Author Topic: Race from $2M to $4M...and Beyond!  (Read 975519 times)

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #6200 on: May 04, 2022, 01:04:14 PM »

DH and I love our IHG Rewards cards. I have over 500k points from my working days and collectively, we still have around 700k points. We've used a bunch, too. (I retired almost ten years ago.)

Best tip: buy rooms with the "Points + Cash" option, because what you're actually doing is buying more points, not paying for a room. Therefore, you neatly sidestep the taxes, which y'all know can be ridiculous on hotel rooms. If you cancel the reservation, the additional points are just added to your account. Once upon a time, when I was a total points junkie, when the deal was right, I'd make a P+C reservation and cancel it, just for the cheap points.

You know I never knew that!

I will look at the P&C option in the future.

Fomerly known as something

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Re: Race from $2M to $4M...and Beyond!
« Reply #6201 on: May 04, 2022, 02:43:03 PM »

It's hard to change these mindsets. Like, I won't buy a luxury car even though I want one because "we are not those kind of people, a Honda is just fine".


I hear you :-) Last year when I was car shopping, I could have bought anything, even a Mercedes S class, with minimal impact on our finances. After a month of test drives, I was completely unimpressed by the luxury makes. I actually wound up buying a Honda CR-V because I just could not get myself to spend more than $35k on a car.

Same here.. We got a new base model AWD Passport for $35k.. This car seems outrageously decadent to us us.. It HUGE and the difference between the base model and the top end is leather seats and a shiny badge on the back.. Oh and about $15k of course.. No thanks.

I ended up special ordering my Jeep in 2015.  I wanted two extra packages,  the tow package and the cold weather package only.  The dealer (I was near Detroit so everyone gets the friends deal) couldn’t find one for several months.

EscapeVelocity2020

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Re: Race from $2M to $4M...and Beyond!
« Reply #6202 on: May 04, 2022, 03:25:03 PM »
None of us are quite old enough to be in the 'but you can't take it with you category' yet, but it will likely become a distinct 'problem' for many of us...

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #6203 on: May 04, 2022, 05:21:27 PM »
None of us are quite old enough to be in the 'but you can't take it with you category' yet, but it will likely become a distinct 'problem' for many of us...

Especially as some of us have ridiculously low WR's and we are not drawing pension or SS income yet!

In our case our WR will be practically $zero 4.5 years from now.

How will I cope?

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #6204 on: May 04, 2022, 05:24:06 PM »
None of us are quite old enough to be in the 'but you can't take it with you category' yet, but it will likely become a distinct 'problem' for many of us...

That's mighty kind of you to say, but the birthdate our driver's licenses disagrees.

shureShote

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Re: Race from $2M to $4M...and Beyond!
« Reply #6205 on: May 05, 2022, 05:26:36 AM »

We are all over Holiday Inn Express. DH loves the cinnamon rolls, as well as the price.

Same here, especially as I still have about 10 nights free on points that I earned from my business travel days..:)

We are all over Holiday Inn Express. DH loves the cinnamon rolls, as well as the price.

Same here, especially as I still have about 10 nights free on points that I earned from my business travel days..:)

We love those too. 

I'm also a big Hyatt Place/House fan with three kids.  They are one of the few chains that allow 5 people in a room.  They have the two queen beds and the sofa bed.  With 3 kids also getting free breakfast, I consider it a massive value.  The 5,000 point per night redemptions making hotel rooms effectively $50-75/night with Chase UR points were awesome.  (Those valuations are changing this year, and I am sad.)
DH and I love our IHG Rewards cards. I have over 500k points from my working days and collectively, we still have around 700k points. We've used a bunch, too. (I retired almost ten years ago.)

Best tip: buy rooms with the "Points + Cash" option, because what you're actually doing is buying more points, not paying for a room. Therefore, you neatly sidestep the taxes, which y'all know can be ridiculous on hotel rooms. If you cancel the reservation, the additional points are just added to your account. Once upon a time, when I was a total points junkie, when the deal was right, I'd make a P+C reservation and cancel it, just for the cheap points.

We were IHGers for many years, but we moved to Hilton Honors about three years ago for a variety of reasons. We are even started to unwind our long standing Delta Skymiles accounts and moving to United, mostly due to routing after moving last year.

I agree though, the P+C is a good way to go. I think we are down to about 200k points between us left and still use them in a couple locations.

Fomerly known as something

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Re: Race from $2M to $4M...and Beyond!
« Reply #6206 on: May 07, 2022, 09:26:54 PM »
Met with my financial advisor on Friday.  He told me again I can spend more money.

I also saw that I’m 25k in tax loss harvesting so far this year.  half from having my condo downpayment in the market since I didn’t plan to buy a place until we’ll I bought a place.  Half from flipping my bonds between the California muni fund and the federal muni fund the last few months.  It still floors me that I’m playing “rich people games”

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #6207 on: May 11, 2022, 08:54:14 AM »
Is he one of yours?  This brat has made claims that his parents are worth over 2 MILLION DOLLARS!
That somehow seems to entitled him to get drunk on a plane and assault flight attendants.
I'm thinking Mustacian parents raised the poor entitled darling, because he's flying Frontier, even though his parents are loaded. https://vm.tiktok.com/ZTdpXtjnm/?k=1

couponvan

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Re: Race from $2M to $4M...and Beyond!
« Reply #6208 on: May 11, 2022, 09:44:37 AM »
Not my kids! My oldest wouldn’t talk to other humans. He’s too shy. He also doesn’t drink alcohol. My middle one would be trying to take over flight attendant duties because he liked to help. He also doesn’t drink because with his meds the effect on his liver would be a catastrophic event. My youngest, well, she’s 16 going on 60. They would all definitely fly Frontier, Breeze, or our family favorite No Spirit airlines. I feel sorry for that entitled brat’s parents. But he is 26-he really should be talking about his own accomplishments versus his parents at that point. Geez.

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #6209 on: May 11, 2022, 09:58:56 AM »
Not my kids! My oldest wouldn’t talk to other humans. He’s too shy. He also doesn’t drink alcohol. My middle one would be trying to take over flight attendant duties because he liked to help. He also doesn’t drink because with his meds the effect on his liver would be a catastrophic event. My youngest, well, she’s 16 going on 60. They would all definitely fly Frontier, Breeze, or our family favorite No Spirit airlines. I feel sorry for that entitled brat’s parents. But he is 26-he really should be talking about his own accomplishments versus his parents at that point. Geez.

If he were mine, there would be a giant wall between him and that money forever.
No.  I don't think he had a Mustacian upbringing.

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #6210 on: May 22, 2022, 08:28:06 PM »
Our neighbors lost their home to a fire last night.  About 5 PM on Saturday lighting hit very close to our home. Nothing appeared wrong and we maintained electric power.  At about 9 PM my son told me he could smell burning wires.  I casually looked around but noticed nothing.  About 10:30 PM my wife came home from dinner she'd had with friends.  I was in the shower and about to get to bed.  My wife screamed the neighbors house was on fire. She immediately called 911. I tossed on clothes still wet from the shower.  Luckily I had fire retardant clothing and work boots in my closet.  I immediately ran to my son and daughter in laws house to wake them.  The house now engulfed in flames lies between our two houses.  His house is only about 30 feet from the burning house and our is about the same distance on the opposite side.  The house on fire is a fishing camp and luckily they weren't home as they often are on weekends.  My son moved their cars away and got their pets out.
We grabbed garden hoses and started to wet down our houses.  I've been a volunteer and industrial fireman for decades.  My son just completed his industrial firefighter certification a few weeks ago.  Our only resources were 30 feet of space between the houses and 25 foot water streams of a few gallons a minute.  I was able to wet our house a little quicker and damages were minor.  My son's house got much hotter.  There were vinyl blinds melted inside his house through a closed window.  All the plastic items outdoors were melted.  Wetting kept the house from burning.  The water was steaming and anything metal was too hot to touch.  The volunteer fire department I'm a former member of showed up about 10 minutes from the call.  Not a bad response, but it seemed like hours.  Once they arrived they started cooling our houses with high pressure water and we're able to start knocking down the flames.  The trees surrounding the house were also on fire.  Flames were at least 75 feet high and were impossible for us to reach without firewater pressure.  Eventually there was enough firefighting equipment and people to get the fire completely out. 
Very little of the structure remained by then. 
Once the shock wore off we finally realized the flash burns to our exposed skin.  Nothing more than like a sunburn, but you can see a line where clothing met exposed skin.
The neighbors have insurance and hopefully they can rebuild their camp that generations have enjoyed.  We boiled shrimp and crabs on our boat dock today with a few beers.  That's life in Cajunland. You fight the battles and move on. 
My son made a tictok.

https://www.tiktok.com/t/ZTdnFtk9X/?k=1
« Last Edit: May 22, 2022, 08:40:19 PM by Bateaux »

MaybeBabyMustache

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Re: Race from $2M to $4M...and Beyond!
« Reply #6211 on: May 22, 2022, 09:40:04 PM »
@Bateaux - that is wild. So happy you & your family & neighbors are safe, & that you were able to help save your houses. How lucky that you & your son are both trained fireman!

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #6212 on: May 22, 2022, 09:52:07 PM »
@Bateaux - that is wild. So happy you & your family & neighbors are safe, & that you were able to help save your houses. How lucky that you & your son are both trained fireman!

I would say this is a clear case of "they made their own luck" as it gets.

BeanCounter

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Re: Race from $2M to $4M...and Beyond!
« Reply #6213 on: May 23, 2022, 04:48:59 AM »
Wow. Thank God everyone is ok @Bateaux!
Hope your neighbors are able to rebuild easily and get back to boiling shrimp and drinking beers on the dock quickly (sounds pretty awesome)!

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #6214 on: May 23, 2022, 06:16:50 AM »
Wow!  There is a lesson there in preparation. It also reminded me that I have some wiring in my home that is definitely not NEC code.  I need to get on that.

MaybeBabyMustache

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Re: Race from $2M to $4M...and Beyond!
« Reply #6215 on: May 23, 2022, 07:21:14 AM »
@Bateaux - that is wild. So happy you & your family & neighbors are safe, & that you were able to help save your houses. How lucky that you & your son are both trained fireman!

I would say this is a clear case of "they made their own luck" as it gets.

Ha, yes. Clearly the OP & his son made their own luck/were prepared. I was referring to the general situation of a house catching fire, with firemen bordering that house on both sides, which benefited the neighborhood/neighbors.

JoJoP

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Re: Race from $2M to $4M...and Beyond!
« Reply #6216 on: May 24, 2022, 09:07:02 PM »
Bateaux,  I'm so glad nobody was hurt and the pets were saved.  Thank goodness you were able to help. 

Taran Wanderer

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Re: Race from $2M to $4M...and Beyond!
« Reply #6217 on: May 24, 2022, 09:56:30 PM »
Wow, that was a crazy big fire.  Fantastic job keeping it to the one structure and (mostly) protecting your houses.  Glad nobody was hurt beyond a little "sunburn".

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #6218 on: May 25, 2022, 12:19:41 AM »
Wow!

LightTripper

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Re: Race from $2M to $4M...and Beyond!
« Reply #6219 on: May 26, 2022, 07:53:41 AM »
Wow that looks crazy dramatic! So glad everyone is OK and you protected what you could.  Fingers crossed they can get back up and running as soon as possible.

Fomerly known as something

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Re: Race from $2M to $4M...and Beyond!
« Reply #6220 on: May 29, 2022, 05:04:14 AM »
So I finally got paid my 25k relocation bonus to move to our San Francisco Office this week.  The way the Feds pay bonuses is that they basically just get added into and paid to your salary.  They also get taxed like your salary, as if the extra large paycheck is only 1 of 26.  I have been totally messing around with my paycheck seeing what life would be like if I earned over 800k a year, and yes I did receive less than 50% of my gross but I’d have been slightly over 50% if Not for social security tax.  I can see how the very rich don’t necessarily see the point of a 401k, my TSP was down to a measly 2.5% of my inflated salary. 

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #6221 on: May 29, 2022, 06:51:25 AM »
So I finally got paid my 25k relocation bonus to move to our San Francisco Office this week.  The way the Feds pay bonuses is that they basically just get added into and paid to your salary.  They also get taxed like your salary, as if the extra large paycheck is only 1 of 26.  I have been totally messing around with my paycheck seeing what life would be like if I earned over 800k a year, and yes I did receive less than 50% of my gross but I’d have been slightly over 50% if Not for social security tax.  I can see how the very rich don’t necessarily see the point of a 401k, my TSP was down to a measly 2.5% of my inflated salary.

When I was a kid, I thought a million dollars would put me in the category of the "very rich."  Both times and perception certainly do change things.  In a place like San Francisco, a million is even effectively less than it is in the good old rust belt.

Fomerly known as something

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Re: Race from $2M to $4M...and Beyond!
« Reply #6222 on: May 29, 2022, 07:10:19 AM »
So I finally got paid my 25k relocation bonus to move to our San Francisco Office this week.  The way the Feds pay bonuses is that they basically just get added into and paid to your salary.  They also get taxed like your salary, as if the extra large paycheck is only 1 of 26.  I have been totally messing around with my paycheck seeing what life would be like if I earned over 800k a year, and yes I did receive less than 50% of my gross but I’d have been slightly over 50% if Not for social security tax.  I can see how the very rich don’t necessarily see the point of a 401k, my TSP was down to a measly 2.5% of my inflated salary.

When I was a kid, I thought a million dollars would put me in the category of the "very rich."  Both times and perception certainly do change things.  In a place like San Francisco, a million is even effectively less than it is in the good old rust belt.

Yes and no.  I’m finding it to be a fascinating place cost wise.  Yes in the city and Silicon Valley proper it is much more expensive for a midwestern sized house and yard, but it’s not the whole story.  An upper middle class person can find a reasonable housing situation with a few compromises.  I also have seen not so special houses in the more expensive suburbs of my old Midwest rust belt city for the same cost of my condo, compared to those house I feel like I got a deal in San Francisco.  (My price range was up to 750k).

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #6223 on: May 29, 2022, 02:10:59 PM »
@Bateaux Great job on getting the pets out and your houses protected!

ingrownstudentloans

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Re: Race from $2M to $4M...and Beyond!
« Reply #6224 on: June 02, 2022, 06:45:11 AM »
Joining this race after a short stint in the 1-2 race.  Focusing on continuing to double my money in as short a period of time as possible.

(tracking retirement accounts, taxable accounts and conservative equity in my rental properties, investment land and side businesses)

12/2014    $32,000
12/2016    $64,000 (24 months)
1/2018      $128,000 (25 months)
5/2019      $256,000 (16 months)
11/2020  $512,000 (19 months)
12/2021  $1,024,000 (13 months)
4/2022    $2,048,000 (4 months)
[10/2023 $4,096,000 (19 months] **TARGET**
--
4/1/2022     $2,336,219
5/1/2022     $2,398,670

6/1/2022     $2,556,025 - I realize others in this "race" don't report monthly, or at all, but it's become my monthly ritual when I update the spreadsheets.  Thanks for bearing with me :)

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #6225 on: June 02, 2022, 07:13:30 AM »
Joining this race after a short stint in the 1-2 race.  Focusing on continuing to double my money in as short a period of time as possible.

(tracking retirement accounts, taxable accounts and conservative equity in my rental properties, investment land and side businesses)

12/2014    $32,000
12/2016    $64,000 (24 months)
1/2018      $128,000 (25 months)
5/2019      $256,000 (16 months)
11/2020  $512,000 (19 months)
12/2021  $1,024,000 (13 months)
4/2022    $2,048,000 (4 months)
[10/2023 $4,096,000 (19 months] **TARGET**
--
4/1/2022     $2,336,219
5/1/2022     $2,398,670

6/1/2022     $2,556,025 - I realize others in this "race" don't report monthly, or at all, but it's become my monthly ritual when I update the spreadsheets.  Thanks for bearing with me :)
You get to do you, any way you like. I am curious as to how you plan to reach your 10/23 target. Are you expecting a large influx of cash?

ingrownstudentloans

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Re: Race from $2M to $4M...and Beyond!
« Reply #6226 on: June 02, 2022, 07:53:01 AM »
6/1/2022     $2,556,025 - I realize others in this "race" don't report monthly, or at all, but it's become my monthly ritual when I update the spreadsheets.  Thanks for bearing with me :)
You get to do you, any way you like. I am curious as to how you plan to reach your 10/23 target. Are you expecting a large influx of cash?

Ha - thanks!

When I found MMM about a decade ago, I was a new grad with a ton of debt (about 200k - hence the name) graduating into a really bad job market, broadly speaking but specifically for my field.  I had 2 offers when I got out.  One for $24k and one for $73k.  I have worked my way up, fought lifestyle creep, and my compensation increased.  A few career changes and a highly specialized line of work have allowed me to get to an annual compensation of >1M last year, but was making just over 100k a few short years ago.  I realize that my current compensation might not be forever, so I am saving a lot of it and hope to keep making this amount for the next couple of years....make hay while the sun shines, right?

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #6227 on: June 02, 2022, 08:23:14 AM »
6/1/2022     $2,556,025 - I realize others in this "race" don't report monthly, or at all, but it's become my monthly ritual when I update the spreadsheets.  Thanks for bearing with me :)
You get to do you, any way you like. I am curious as to how you plan to reach your 10/23 target. Are you expecting a large influx of cash?

Ha - thanks!

When I found MMM about a decade ago, I was a new grad with a ton of debt (about 200k - hence the name) graduating into a really bad job market, broadly speaking but specifically for my field.  I had 2 offers when I got out.  One for $24k and one for $73k.  I have worked my way up, fought lifestyle creep, and my compensation increased.  A few career changes and a highly specialized line of work have allowed me to get to an annual compensation of >1M last year, but was making just over 100k a few short years ago.  I realize that my current compensation might not be forever, so I am saving a lot of it and hope to keep making this amount for the next couple of years....make hay while the sun shines, right?

Right! Strike while the iron is hot! 

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #6228 on: June 02, 2022, 12:13:17 PM »
6/1/2022     $2,556,025 - I realize others in this "race" don't report monthly, or at all, but it's become my monthly ritual when I update the spreadsheets.  Thanks for bearing with me :)
You get to do you, any way you like. I am curious as to how you plan to reach your 10/23 target. Are you expecting a large influx of cash?

Ha - thanks!

When I found MMM about a decade ago, I was a new grad with a ton of debt (about 200k - hence the name) graduating into a really bad job market, broadly speaking but specifically for my field.  I had 2 offers when I got out.  One for $24k and one for $73k.  I have worked my way up, fought lifestyle creep, and my compensation increased.  A few career changes and a highly specialized line of work have allowed me to get to an annual compensation of >1M last year, but was making just over 100k a few short years ago.  I realize that my current compensation might not be forever, so I am saving a lot of it and hope to keep making this amount for the next couple of years....make hay while the sun shines, right?

Right! Strike while the iron is hot!
Holy cow! That's one hot iron. Congratulations, especially on avoiding lifestyle creep after slaying that much debt.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #6229 on: June 02, 2022, 01:34:33 PM »
@ingrownstudentloans What the heck are you doing to get >$1M compensation?.. Robbing banks?

Your not the next "Walter White" are you?...:)

arcturus

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Re: Race from $2M to $4M...and Beyond!
« Reply #6230 on: June 02, 2022, 01:59:01 PM »
@ingrownstudentloans What the heck are you doing to get >$1M compensation?.. Robbing banks?

Your not the next "Walter White" are you?...:)

"You asked me if I was in the meth business or the money business. Neither. I'm in the empire business."   :-)

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #6231 on: June 02, 2022, 03:00:44 PM »
@ingrownstudentloans What the heck are you doing to get >$1M compensation?.. Robbing banks?

Your not the next "Walter White" are you?...:)

I don't know whether you realize it but trailer parks are getting very lucrative.  That could be a good gig for the big bucks.

https://www.theguardian.com/lifeandstyle/2015/may/03/owning-trailer-parks-mobile-home-university-investment

People who have experience at this sort of thing could be going places.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #6232 on: June 02, 2022, 06:29:14 PM »
@ingrownstudentloans What the heck are you doing to get >$1M compensation?.. Robbing banks?

Your not the next "Walter White" are you?...:)

I don't know whether you realize it but trailer parks are getting very lucrative.  That could be a good gig for the big bucks.

https://www.theguardian.com/lifeandstyle/2015/may/03/owning-trailer-parks-mobile-home-university-investment

People who have experience at this sort of thing could be going places.

Trailer parks that house sex offenders are gold mines!.. I saw a documentary on the subject!..:)

Much Fishing to Do

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Re: Race from $2M to $4M...and Beyond!
« Reply #6233 on: June 03, 2022, 05:20:52 AM »
6/1/2022     $2,556,025 - I realize others in this "race" don't report monthly, or at all, but it's become my monthly ritual when I update the spreadsheets.  Thanks for bearing with me :)
You get to do you, any way you like. I am curious as to how you plan to reach your 10/23 target. Are you expecting a large influx of cash?

Ha - thanks!

When I found MMM about a decade ago, I was a new grad with a ton of debt (about 200k - hence the name) graduating into a really bad job market, broadly speaking but specifically for my field.  I had 2 offers when I got out.  One for $24k and one for $73k.  I have worked my way up, fought lifestyle creep, and my compensation increased.  A few career changes and a highly specialized line of work have allowed me to get to an annual compensation of >1M last year, but was making just over 100k a few short years ago.  I realize that my current compensation might not be forever, so I am saving a lot of it and hope to keep making this amount for the next couple of years....make hay while the sun shines, right?

Wowzer.  I had one year of my business where I made over $1M, but that was a very extreme outlier.  (I can call it a great year now but it about killed me when it happened).  I had a couple years I made around $400k, but $150k was more the norm.  I always laughed when what I made "a year" or "a month" would come up, cause my answer was always "well, I can you what I made last year" (and sometimes the answer to the month was "made?  I lost $20k last month", and the answer to what I make next month always depended on if someone was gonna pay their bill and I was not that clairvoyant...

Hang on to whatever the taxman leaves ya as it'll serve you for many many years.

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #6234 on: June 17, 2022, 09:18:25 AM »
Wow, all this market volatility and not a peep from the Beyonders in two weeks.

Since the accepted wisdom is just to ignore the static, I wonder if that explains the calm. Are people are stepping back to previous cohorts as their NW "shrinks"? I hope not.

I'm of the persuasion that if market fluction knocks anyone out, they should still hang out here. Could it even be an incentive to stay the course? Let's see what some of our heavyweights, including this thread's founder, think.

@Car Jack, @Bateaux, @Much FishingTo Do, @Exflyboy (Yeah, we know you're busy working. Again.)

P.S. No, I haven't checked our equities and I'm not planning to. I have been tracking our RE, which is finally starting to soften just a bit, so the other shenanigans don't worry me much. As the Brits say, "Keep Calm and Carry on", right Frank?

LoanShark

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Re: Race from $2M to $4M...and Beyond!
« Reply #6235 on: June 17, 2022, 10:55:39 AM »
Yeah, not a fun ride but that's part of the game. Still working here so I'm trying to keep the right perspective and look at it as a buying opportunity.

MaybeBabyMustache

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Re: Race from $2M to $4M...and Beyond!
« Reply #6236 on: June 17, 2022, 11:16:24 AM »
@Dicey - We are down a few hundred k, but are staying the course. We still have a very conservative plan (paid off house, one spouse planning to still work by choice, & a very "safe" amount in our retirement accounts. I'm still planning to FIRE in Q1 of 2023.

dividendman

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Re: Race from $2M to $4M...and Beyond!
« Reply #6237 on: June 17, 2022, 11:22:18 AM »
Yeah, I'm not very worried about it although I guess a FIRED at the peak of the market and right before inflation and a bear market... oh well :)

I'm enjoying not working too much!

If things tank really badly in commercial leases/property I'm thinking of opening up a little shop to sell pastries! I've always wanted to do that.

couponvan

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Re: Race from $2M to $4M...and Beyond!
« Reply #6238 on: June 17, 2022, 11:27:15 AM »
We are down around $200k maybe. We still have 2 kids to send through college and DH spending like crazy, so we will re-evaluate in one more year. For now, I refuse to worry overmuch.

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #6239 on: June 17, 2022, 12:13:23 PM »
Wow, all this market volatility and not a peep from the Beyonders in two weeks.

Since the accepted wisdom is just to ignore the static, I wonder if that explains the calm. Are people are stepping back to previous cohorts as their NW "shrinks"? I hope not.


Been busy making artsy stuff and chasing my wife around the house.   

We're still rich and other than a catastrophic illness or legal woe or alt-right murder squads intervening, we're pretty likely to stay that way.

Not much to worry about other than that last one.    Those crazy bastards have a shit load of guns, ammo, shit for brains, and a violent temperament - and I have a caustic mouth when it comes to them.

Taran Wanderer

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Re: Race from $2M to $4M...and Beyond!
« Reply #6240 on: June 17, 2022, 02:00:52 PM »
We had some cash built up, so we’ve been buying in. Since we’re still in accumulation mode, we’re buying on sale right now with the monthly contributions. Next upswing, this will probably send us over the hump into the “beyond” territory.

On this thought, I saw a great article today from a financial advisor whose position was that if you’re in it for the long term, it doesn’t matter what you buy right now, just that you buy something. He was leaning for value plays on consumer staples or big industrials, but whatever the choice, just buy. I like that advice better than the constant “move your money here” reactive noise.

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #6241 on: June 17, 2022, 02:27:03 PM »
Here's a slightly gloomy perspective on this stock market thing.  What's driven this stock market up?  Well - a good part of it is that people have put retirement savings into equities.  This has, of course, included me.  It's a rigged system and unless you are into real estate there appears to be no other realistic investment vehicle.  Think a bit about demographics.  A lot of baby boomers are retiring.  They've worked many years and want to partake in their dreams.  For most of us the dreams are not to watch the stock market.  So, they are now taking their money out to buy the house on the lake or to travel to Uluru with a stop at Machu Picchu.  The market is down.  That vast sum of money from this huge demographic of retirees is gone.

Life's been pretty tough on the ensuing generations.  Pay has gone to shi*.  The system has been rigged so some of them have huge student loans to pay off.  That money is being used for survival and not the stock market.

It's Summer.  Summer is short.  No time to be dragged down with this rigged stock market thing.

arcturus

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Re: Race from $2M to $4M...and Beyond!
« Reply #6242 on: June 17, 2022, 02:59:55 PM »
I'm teetering right on the razors edge of being on this thread or needing to turn in the membership card.  Trying not to look, but I could not resist last night....and based on that look, I need to hand in the membership card.   Taking into account my YTD contributions, I'm guessing I'm down at least $350K this year.

The positive is that I'm not withdrawing / spending down the discounted dollars right now.  And it has made me re-evaluate the retirement goals and whether I'm setting the bar too high.

So yeah, if you were a Seinfeld junkie back in the day, you may recall the episode where George and Jerry had a certain bet (google "The Contest")......well, "I'm out" --- at least for now.   :-) 

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #6243 on: June 17, 2022, 03:38:37 PM »
So yeah, if you were a Seinfeld junkie back in the day, you may recall the episode where George and Jerry had a certain bet (google "The Contest")......well, "I'm out" --- at least for now.   :-)

Nope.   When you're in, you're in, as far as I'm concerned.

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #6244 on: June 17, 2022, 03:59:07 PM »
So yeah, if you were a Seinfeld junkie back in the day, you may recall the episode where George and Jerry had a certain bet (google "The Contest")......well, "I'm out" --- at least for now.   :-)

Nope.   When you're in, you're in, as far as I'm concerned.

Yup. That was the reason I posted to this thread. Plus, y'all were way too quiet for too long ;-)

arcturus

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Re: Race from $2M to $4M...and Beyond!
« Reply #6245 on: June 17, 2022, 04:04:50 PM »
So yeah, if you were a Seinfeld junkie back in the day, you may recall the episode where George and Jerry had a certain bet (google "The Contest")......well, "I'm out" --- at least for now.   :-)

Nope.   When you're in, you're in, as far as I'm concerned.

Well, thank you @SwordGuy !   And on second thought....I must be down more like $400K this year...

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #6246 on: June 17, 2022, 04:49:38 PM »
I have not checked the portfolio, but I do know I want to move some funds from bond index's to VTSAX or similar.

I almost pulled the trigger on Thursday but it kinda feels we have further to go down.. Of course if I wait forever I'll never buy any.

I am back firmly in accumulation mode again for the time being but it wasn't the market pullback that made me "un-retire".. Honest.. @Dicey ..:)

I must say earning a shit ton of ca$h this year doesn't feel half bad though... The question is.. when to stop? I can tell you my HSA and 401k contributions will be maxed out by the end of August. So maybe "NOT" buy Cobra in Sept+Oct* then buy the ACA at $1500/month for Nov+Dec might be a good plan.

* You have 60 days to sign up for the ACA after you lose your employer coverage, and you can buy the Cobra retroactively for 60+ days after you leave your job.


Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #6247 on: June 17, 2022, 08:39:36 PM »
Wow, all this market volatility and not a peep from the Beyonders in two weeks.

Since the accepted wisdom is just to ignore the static, I wonder if that explains the calm. Are people are stepping back to previous cohorts as their NW "shrinks"? I hope not.


Been busy making artsy stuff and chasing my wife around the house.   

We're still rich and other than a catastrophic illness or legal woe or alt-right murder squads intervening, we're pretty likely to stay that way.

Not much to worry about other than that last one.    Those crazy bastards have a shit load of guns, ammo, shit for brains, and a violent temperament - and I have a caustic mouth when it comes to them.
You are not alone, and this deserves to be bolded.

Fomerly known as something

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Re: Race from $2M to $4M...and Beyond!
« Reply #6248 on: June 17, 2022, 08:59:17 PM »
Busy with work.  Also I’m learning computer stuff so my brain is fried.  Converted Hex to Binary to decimals yesterday.  Which actually caused my math skills to go bye-bye.  What 9+8 does not equal 15?

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #6249 on: June 18, 2022, 12:55:14 AM »
We just got back from a two week vacation in Florida.  Spent a week in Fort Lauderdale, a day at SeaWorld in Orlando and a few days at the house in Citrus County.  It was a good time to be away.  Kept my mind off the downturn in the market.  Right now we're down almost $500K.  That's not a small sum, but the remainder is still in range where I feel zero panic.  I may make some buys soon.  Index 500 or VTSAX type.  I'm back at work and already forced into 24 hours of overtime this weekend.  I'll have a few hours off Sunday and then back in on Monday.
I did buy myself a new bicycle.  Surly Straggler with racks and bags for paved road/gravel road touring.  No miles on it yet.  I've been fitting it out with all the touring kit for retirement next year. 
The Bob's are back at the worksite.  You know the "Office Space Bob's.". I haven't personally talked to them.  We've ran lean in production since the 2008 debacle.  They are here to help us cut costs they say.  We have old ratty equipment that should have been replaced decades ago.  I think they are at a loss for words on zero cost improvements.  A hedge fund bought a large portion of the company earlier in the year.  They protested for seats on the board and decided they would like to see us run leaner.  We ran lean all through the pandemic.  All they are finding is millions of dollars in backlogged maintenance we've bandaid fixed.  I'll be entertained to see their reports if revealed to the mongrel masses. 
I'm less than 11 months from my big adventure on the Appalachian Trail.  That trip will be for 45 days.  After that I'll decide my future employment/retirement.  I've been invited to rejoin the high angle rescue team at work.  I've been off the team since 2015.  I hope my older body still appreciates repelling inverted in the air on ropes and climbing in tight spaces.  It will qualify me for SAR team, Firefighter, or maybe some civilian mountain repelling.  I'm ageing out of such things and I'm not mentally ready to give up yet.  I know the recertification training will kick my 54 year old ass in September.   
That's all I've got right now.  I'm not too worried about the economy.  I've got just about enough time left at work for the recovery to likely be in full swing.
I'm leaning towards taking the pension plan and not the lump sum once retired.  The lump sum payment is taking major hits from interest rate increases.  About a 10 percent loss for every 1 percent increase.  The annuity will not change, but it will not have COLA adjustments either.  I've got 54 weeks minimum till I have to make that decision.
Glad to see there was absolutely no panic here.