Author Topic: Race from $2M to $4M...and Beyond!  (Read 522347 times)

BeanCounter

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Re: Race from $2M to $3M.....and beyond!
« Reply #1550 on: August 22, 2019, 09:58:55 AM »
I needed to read this this morning guys. It's so bad. 39 weeks to go....

FI and my decision to RE in May 2020 is causing me to pull back. It's so hard to do much more than what is required of me. No fire. No desire. I'm just done. Meanwhile they hired a whiz kid who is running circles around me. He stole my direct report. He gets invited to all the important meetings with the big shots. They are all impressed with him because he's a smart kid who has the desire to read all the CMS regs in his free time, and kiss lots of ass when he's in the office. Me, not so much. I was once him but now I'm just a 40 something year old mom who's mind is really at home about 75% of the time, but I've got 20 years of experience. Sometimes I care. Sometimes I feel so depressed as I feel like I'm watching it slip away. Last night I cried when I got home. But yet I have no, zero, absolutely no desire to fight for the work and the recognition. I hate big office politics.
Sometimes I worry that they might be trying to get to a position where they can lay me off. Where they don't need me as a SME. I'm fairly expensive. Obviously I don't care about that, other than it would really hurt my ego.

Not sure what to do. My DH says keep going to May. Do the minimum required but do good work. Try not to care. Collect your bonus and GTFO.

Sorry that was an emotional brain dump.

Why May?  This sounds awful.

Well, the May date came about for several reasons-
-Last spring we spent $80k remodeling our home and we wanted to put that cash back in place so we could tap it for kids stuff if need be. My DH also needs his car replaced so some of the cash I bring in will go to that.
-Last spring we also already had our summer nanny lined up and I felt that we would have left her without a job which she was counting on for college tuition.
-The nanny situation meant I was committed to working through this summer, which meant I would be staying to do the budget (which I'm doing now) and if I do the budget, I want the bonus that goes with that hard work
-My bonus for this year should come in Feb or March
-working through Feb or March means I should probably just keep the after school nanny through the rest of the school year because she too depends on that income for her college tuition

I guess I could pull the plug sometime earlier in the spring after my bonus comes in.

Also, just as a side note- We just went through a big merger and another acquisition so everyone around here is fighting for work, new titles, more money. So I don't think it's just me that feels the pressure of other people trying to phase them out. I just have a lot of internal pressure around not trying to fight it. I feel like I should be fighting but I don't want to, and I know I'm leaving so I would be doing them a disservice if I did.
And there is a lot baked in there too, around this internal fight I've had for the last ten years of my life about if I'm truly a career women or a mom. I made it to a director role through hard work and fight, but now I hate what I have to give up to stay or become VP or CFO.
Ugh, again. Sorry that's a lot.
What's the saying- "Mo money, Mo problems". I totally identify.

TLDNR- I'm trying not to be an impulsive three year old and just quit, but I really want to
« Last Edit: August 22, 2019, 10:04:05 AM by BeanCounter »

Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #1551 on: August 22, 2019, 10:05:55 AM »
I needed to read this this morning guys. It's so bad. 39 weeks to go....

FI and my decision to RE in May 2020 is causing me to pull back. It's so hard to do much more than what is required of me. No fire. No desire. I'm just done. Meanwhile they hired a whiz kid who is running circles around me. He stole my direct report. He gets invited to all the important meetings with the big shots. They are all impressed with him because he's a smart kid who has the desire to read all the CMS regs in his free time, and kiss lots of ass when he's in the office. Me, not so much. I was once him but now I'm just a 40 something year old mom who's mind is really at home about 75% of the time, but I've got 20 years of experience. Sometimes I care. Sometimes I feel so depressed as I feel like I'm watching it slip away. Last night I cried when I got home. But yet I have no, zero, absolutely no desire to fight for the work and the recognition. I hate big office politics.
Sometimes I worry that they might be trying to get to a position where they can lay me off. Where they don't need me as a SME. I'm fairly expensive. Obviously I don't care about that, other than it would really hurt my ego.

Not sure what to do. My DH says keep going to May. Do the minimum required but do good work. Try not to care. Collect your bonus and GTFO.

Sorry that was an emotional brain dump.

Why May?  This sounds awful.
JoJoP, the answer, or at least part of it, is in the last line.

Years ago, I was a well respected manager, doing a good job for a boss I liked. Suddenly it all changed. I couldn't figure out why.  Nearly twenty years later, a random conversation with someone I had hired and trusted ("R") provided the explanation. Seems R had been cultivated by my assistant, who knew I knew R outside of work (not particularly closely, but he was in my social orbit). He eventually "turned" him, for which R was now profusely apologizing. Seems my assistant wanted my job and had figured out, with R's help, I wasn't that into it.

What R didn't know, was that painful as the experience was, he was actually doing me a favor. I left and never looked back. In retrospect, I'm okay that it happened, because it hastened my journey to FIRE. As for my former assistant, who knows what happened to him? I hope he's happy, but I am certain that I am happier.

Hang in there. Let the kid burn himself out or even appear to eclipse you. You have other goals and a new life to lead.

markbike528CBX

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Re: Race from $2M to $3M.....and beyond!
« Reply #1552 on: August 22, 2019, 10:08:22 AM »
@BeanCounter, if you "qualify" for this group or even in the 1-2M thread, you're done, FIRE already :-)

Unless the bonus would increase your net worth by 25-50%, then it is a carrot too small to stress over.  Not being needed as a SME? Well that would happen in May 2020 anyway.  So FIRE on your schedule/timeline.

Disclosure: As OP of the 2019 cohort thread, I might be a little motivated to recruit for that group thread.  :-)

pecunia

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Re: Race from $2M to $3M.....and beyond!
« Reply #1553 on: August 22, 2019, 10:16:15 AM »
Just wonder if any of you that have gone on "beyond" the work thing, if you look back at the reminders of office politics.  Then you smile and tell yourself like so many things in life that once seemed so important at the time perhaps weren't.  I wonder if looking at these things in hindsight puts a sharper lens upon them.

BeanCounter

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Re: Race from $2M to $3M.....and beyond!
« Reply #1554 on: August 22, 2019, 11:03:41 AM »
Hang in there. Let the kid burn himself out or even appear to eclipse you. You have other goals and a new life to lead.

Thank you Dicey. I needed this. You're right. I keep trying to just listen to music and focus on my to-do list and that's it.

BeanCounter

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Re: Race from $2M to $3M.....and beyond!
« Reply #1555 on: August 22, 2019, 11:07:37 AM »
@BeanCounter, if you "qualify" for this group or even in the 1-2M thread, you're done, FIRE already :-)

Unless the bonus would increase your net worth by 25-50%, then it is a carrot too small to stress over.  Not being needed as a SME? Well that would happen in May 2020 anyway.  So FIRE on your schedule/timeline.

Disclosure: As OP of the 2019 cohort thread, I might be a little motivated to recruit for that group thread.  :-)

So as a CPA and finance professional I am ashamed to say that I did not think of this in terms of materiality. But yes, you are exactly right. My bonus will likely amount to .5% of our NW. My take home plus bonus for the next 39 weeks will likely be closer to 1%
But I do think that keeping the commitment to our after-school nanny is important.

Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #1556 on: August 22, 2019, 12:07:25 PM »
Just wonder if any of you that have gone on "beyond" the work thing, if you look back at the reminders of office politics.  Then you smile and tell yourself like so many things in life that once seemed so important at the time perhaps weren't.  I wonder if looking at these things in hindsight puts a sharper lens upon them.

Totally!.. The demotion thing I mentioned above was brutal but also a huge motivator to sit the exams for the professional engineering license. Since one of those 8 hour exams you are supposed to take in your last year of your engineering degree well needless to say 25 years after I graduated and not knowing the old "English" system of engineering units this was bloody hard work! WTF is a British Thermal Unit anyway?

This one massive feat made me much more valuable outside of my company and the 500 hours of study honestly made me a better engineer.

So all of that with a full time job was pretty hard time to be honest.. But looking back it paid huge dividends!

Now I am at the point where the thought of work doesn't even occur to me anymore, let alone not care about work.. I hardly even remember it..:)

... And that is pretty freaking priceless!

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #1557 on: August 22, 2019, 01:17:06 PM »
Bout had enough.   Four hour meeting this morning.  Got out at lunch.  Went for some Chinese food and immediately regretted it.  Bailed out to the nearby library where the restroom is clean.   Decided to look for some hiking books.  Same old books I have read from the 90s.  Found a quiet place to nap a little.  Headed back to work for 3pm to put in an unplanned 12 hour night shift.  I don't work 16 hour days anymore!  Dammit I need to FIRE!

ysette9

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Re: Race from $2M to $3M.....and beyond!
« Reply #1558 on: August 22, 2019, 04:26:52 PM »
Iím on maternity leave right now and am spending the bulk of the day at the hŰpital where my preemie is being cared for. This means most of the time I am kicked back in this reclining arm chair with a tiny baby snoozing on my chest.

It is a little surprising how much I NEED this quiet time to just be. This past year has been so busy with almost no down time to be in my own head. Maybe this is what the beginning of FIRE is like when you detox? Or maybe it is different because I am also healing from major surgery, so while I feel physically good my body and mind may need some extra down time all the same.

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #1559 on: August 22, 2019, 05:21:55 PM »
Iím on maternity leave right now and am spending the bulk of the day at the hŰpital where my preemie is being cared for. This means most of the time I am kicked back in this reclining arm chair with a tiny baby snoozing on my chest.

It is a little surprising how much I NEED this quiet time to just be. This past year has been so busy with almost no down time to be in my own head. Maybe this is what the beginning of FIRE is like when you detox? Or maybe it is different because I am also healing from major surgery, so while I feel physically good my body and mind may need some extra down time all the same.

Good luck to you and your baby.  Priorities are in order.  Wishing you both health.

ysette9

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Re: Race from $2M to $3M.....and beyond!
« Reply #1560 on: August 22, 2019, 08:08:41 PM »
Thank you

markbike528CBX

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Re: Race from $2M to $3M.....and beyond!
« Reply #1561 on: August 22, 2019, 10:43:33 PM »
@BeanCounter, if you "qualify" for this group or even in the 1-2M thread, you're done, FIRE already :-)

Unless the bonus would increase your net worth by 25-50%, then it is a carrot too small to stress over.  Not being needed as a SME? Well that would happen in May 2020 anyway.  So FIRE on your schedule/timeline.

Disclosure: As OP of the 2019 cohort thread, I might be a little motivated to recruit for that group thread.  :-)

So as a CPA and finance professional I am ashamed to say that I did not think of this in terms of materiality. But yes, you are exactly right. My bonus will likely amount to .5% of our NW. My take home plus bonus for the next 39 weeks will likely be closer to 1%
But I do think that keeping the commitment to our after-school nanny is important.

Is it required for you to be at work for the nanny to function? Just asking....

markbike528CBX

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Re: Race from $2M to $3M.....and beyond!
« Reply #1562 on: August 22, 2019, 10:58:50 PM »
Bout had enough.   Four hour meeting this morning.  Got out at lunch.  Went for some Chinese food and immediately regretted it.  Bailed out to the nearby library where the restroom is clean.   Decided to look for some hiking books.  Same old books I have read from the 90s.  Found a quiet place to nap a little.  Headed back to work for 3pm to put in an unplanned 12 hour night shift.  I don't work 16 hour days anymore!  Dammit I need to FIRE!

You shouldn't work 16 hour days anymore!
Obviously you still do.   Still excited about OMY?

Is the measly extra income ( compared to your net worth) sufficient compensation for the BS?

Much Fishing to Do

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Re: Race from $2M to $3M.....and beyond!
« Reply #1563 on: August 23, 2019, 09:42:54 AM »
@BeanCounter, if you "qualify" for this group or even in the 1-2M thread, you're done, FIRE already :-)

Unless the bonus would increase your net worth by 25-50%, then it is a carrot too small to stress over.  Not being needed as a SME? Well that would happen in May 2020 anyway.  So FIRE on your schedule/timeline.

Disclosure: As OP of the 2019 cohort thread, I might be a little motivated to recruit for that group thread.  :-)

So as a CPA and finance professional I am ashamed to say that I did not think of this in terms of materiality. But yes, you are exactly right. My bonus will likely amount to .5% of our NW. My take home plus bonus for the next 39 weeks will likely be closer to 1%
But I do think that keeping the commitment to our after-school nanny is important.


Don't keep working longer than necessary because of the nanny situation.  It is very nice to be considerate of her, but there are lots of ways you can do that.  For example, you can tell her she should start looking for a new position, and that you will write her excellent rec letters and give her a nice final bonus.  If she is good it won't take her long to find one.  And you will be doing a huge service to her new family, who may be struggling to find someone mid-year.

At a minimum, have a conversation with her about it.  You are assuming a lot here that may not be true.

Totally agree.  Tell her the situation and give her a very nice bonus.  Assuming good nanny's are as hard to find as they used to be she'll come out ahead

Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #1564 on: August 23, 2019, 08:55:21 PM »
@BeanCounter, if you "qualify" for this group or even in the 1-2M thread, you're done, FIRE already :-)

Unless the bonus would increase your net worth by 25-50%, then it is a carrot too small to stress over.  Not being needed as a SME? Well that would happen in May 2020 anyway.  So FIRE on your schedule/timeline.

Disclosure: As OP of the 2019 cohort thread, I might be a little motivated to recruit for that group thread.  :-)

So as a CPA and finance professional I am ashamed to say that I did not think of this in terms of materiality. But yes, you are exactly right. My bonus will likely amount to .5% of our NW. My take home plus bonus for the next 39 weeks will likely be closer to 1%
But I do think that keeping the commitment to our after-school nanny is important.


Don't keep working longer than necessary because of the nanny situation.  It is very nice to be considerate of her, but there are lots of ways you can do that.  For example, you can tell her she should start looking for a new position, and that you will write her excellent rec letters and give her a nice final bonus.  If she is good it won't take her long to find one.  And you will be doing a huge service to her new family, who may be struggling to find someone mid-year.

At a minimum, have a conversation with her about it.  You are assuming a lot here that may not be true.

Totally agree.  Tell her the situation and give her a very nice bonus.  Assuming good nanny's are as hard to find as they used to be she'll come out ahead
Yup. Another vote to set the nanny free. Generously, of course, but give her her freedom with plenty of notice. Better still, find a replacement gig for her.

Bateaux

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Re: Race from $2M to $3M.....and beyond!
« Reply #1565 on: August 23, 2019, 10:51:21 PM »
Bout had enough.   Four hour meeting this morning.  Got out at lunch.  Went for some Chinese food and immediately regretted it.  Bailed out to the nearby library where the restroom is clean.   Decided to look for some hiking books.  Same old books I have read from the 90s.  Found a quiet place to nap a little.  Headed back to work for 3pm to put in an unplanned 12 hour night shift.  I don't work 16 hour days anymore!  Dammit I need to FIRE!

You shouldn't work 16 hour days anymore!
Obviously you still do.   Still excited about OMY?

Is the measly extra income ( compared to your net worth) sufficient compensation for the BS?

Let me have it!  Face Punch!  Face Punch!  Slept 8 hours after the shift and it's better.  Next Thursday I'll be headed to our Florida home for a week.  Work 3 days then two weeks off to hike in the Smokies.  I made $1000 gross in those 16 hours.  It will cover weeks of hiking time.

RWD

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Re: Race from $2M to $3M.....and beyond!
« Reply #1566 on: August 24, 2019, 06:53:42 AM »
Bout had enough.   Four hour meeting this morning.  Got out at lunch.  Went for some Chinese food and immediately regretted it.  Bailed out to the nearby library where the restroom is clean.   Decided to look for some hiking books.  Same old books I have read from the 90s.  Found a quiet place to nap a little.  Headed back to work for 3pm to put in an unplanned 12 hour night shift.  I don't work 16 hour days anymore!  Dammit I need to FIRE!

You shouldn't work 16 hour days anymore!
Obviously you still do.   Still excited about OMY?

Is the measly extra income ( compared to your net worth) sufficient compensation for the BS?

Let me have it!  Face Punch!  Face Punch!  Slept 8 hours after the shift and it's better.  Next Thursday I'll be headed to our Florida home for a week.  Work 3 days then two weeks off to hike in the Smokies.  I made $1000 gross in those 16 hours.  It will cover weeks of hiking time.

What good does an extra $1k do if you already have more than enough to cover all your expenses?

Dicey

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Re: Race from $2M to $3M.....and beyond!
« Reply #1567 on: August 24, 2019, 08:00:50 AM »
Bout had enough.   Four hour meeting this morning.  Got out at lunch.  Went for some Chinese food and immediately regretted it.  Bailed out to the nearby library where the restroom is clean.   Decided to look for some hiking books.  Same old books I have read from the 90s.  Found a quiet place to nap a little.  Headed back to work for 3pm to put in an unplanned 12 hour night shift.  I don't work 16 hour days anymore!  Dammit I need to FIRE!

You shouldn't work 16 hour days anymore!
Obviously you still do.   Still excited about OMY?

Is the measly extra income ( compared to your net worth) sufficient compensation for the BS?

Let me have it!  Face Punch!  Face Punch!  Slept 8 hours after the shift and it's better.  Next Thursday I'll be headed to our Florida home for a week.  Work 3 days then two weeks off to hike in the Smokies.  I made $1000 gross in those 16 hours.  It will cover weeks of hiking time.

What good does an extra $1k do if you already have more than enough to cover all your expenses?
Hookers and blow.

2Birds1Stone

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Re: Race from $2M to $3M.....and beyond!
« Reply #1568 on: August 24, 2019, 09:44:45 AM »
Let me have it!  Face Punch!  Face Punch!  Slept 8 hours after the shift and it's better.  Next Thursday I'll be headed to our Florida home for a week.  Work 3 days then two weeks off to hike in the Smokies.  I made $1000 gross in those 16 hours.  It will cover weeks of hiking time.

What good does an extra $1k do if you already have more than enough to cover all your expenses?
Hookers and blow.

woo, makes me feel better about WFH for $100/hr the past three months.

soccerluvof4

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Re: Race from $2M to $3M.....and beyond!
« Reply #1569 on: August 25, 2019, 02:30:39 AM »
Let me have it!  Face Punch!  Face Punch!  Slept 8 hours after the shift and it's better.  Next Thursday I'll be headed to our Florida home for a week.  Work 3 days then two weeks off to hike in the Smokies.  I made $1000 gross in those 16 hours.  It will cover weeks of hiking time.

What good does an extra $1k do if you already have more than enough to cover all your expenses?
Hookers and blow.

woo, makes me feel better about WFH for $100/hr the past three months.





If you can make the money easy, whey you want,  in cash and is a side gig, nothing wrong with that. If you have the money to be fire'd and are still busting ass , well then that is different!

MaybeBabyMustache

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Re: Race from $2M to $3M.....and beyond!
« Reply #1570 on: August 29, 2019, 11:27:17 AM »
Definitely relating to much of the recent posts. I'm going back to work (next week!) after my sabbatical. The sabbatical made it clear that I currently have zero desire to go back to work, have a big "career", or deal with bullshit. Here's why I'm going back:

-We'd planned to have me go part time (cutting my salary to probably 20% of what I currently make, as I wouldn't be able to do part time in current role & am very, very well paid) & my husband would keep working. This was his call & he's never expressed any desire to quit whatsoever. Until, the last few months. So, going back to work for a bit is a hedge to ensure if he reaches the FU point, we can make it work & allow both of us to FIRE.
-I'm up for a milestone promotion immediately upon my return. I've been in the industry for over 20 years, and this is a huge thing. While I'm currently not of the mindset to go back to work at all, what if that changes? Or, what if something happens to my husband over the next few years & he's unable to work. This is a hedge that will lock in my current level, in the unlikely event I need to go back for a few years & pull in a big salary.
-My son was recently diagnosed with ADHD. We have good health care, but many of the services we are considering are not covered by insurance & are incredibly pricey. I'd like to build enough of a cushion to cover those costs that weren't on the radar a year ago.

So, current revised plan:
-Return from sabbatical next week. Already had to schedule first international work trip. *tears*
-Hopefully get promoted in December
-Collect large bonus in January, max 401K & HSA out again
-Stay for sixish months post promo, per agreement with VPs
-Quit before my son (ADHD, so needing more support) starts high school next August.
-Find something part-time & flexible

We're in the $3.6M net worth range, but much of that is tied up into our housing. We could (as it's been pointed out so very many times ;-)) sell our house & move into something cheaper & both be done with working. It's partially inertia & also just the insane housing market where we are that's keeping us in place. Because of the house, our expenses are high & we need a large cushion to get through the next 6-7 years until both kids are in college.

Car Jack

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Re: Race from $2M to $3M.....and beyond!
« Reply #1571 on: August 29, 2019, 01:33:48 PM »
I needed to read this this morning guys. It's so bad. 39 weeks to go....

FI and my decision to RE in May 2020 is causing me to pull back. It's so hard to do much more than what is required of me. No fire. No desire. I'm just done. Meanwhile they hired a whiz kid who is running circles around me. He stole my direct report. He gets invited to all the important meetings with the big shots. They are all impressed with him because he's a smart kid who has the desire to read all the CMS regs in his free time, and kiss lots of ass when he's in the office. Me, not so much. I was once him but now I'm just a 40 something year old mom who's mind is really at home about 75% of the time, but I've got 20 years of experience. Sometimes I care. Sometimes I feel so depressed as I feel like I'm watching it slip away. Last night I cried when I got home. But yet I have no, zero, absolutely no desire to fight for the work and the recognition. I hate big office politics.
Sometimes I worry that they might be trying to get to a position where they can lay me off. Where they don't need me as a SME. I'm fairly expensive. Obviously I don't care about that, other than it would really hurt my ego.

Not sure what to do. My DH says keep going to May. Do the minimum required but do good work. Try not to care. Collect your bonus and GTFO.

Sorry that was an emotional brain dump.

I would absolutely LOVE to be laid off.  Unemployment = money for nuthin'.  But I could retire today if I felt like it......

ysette9

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Re: Race from $2M to $3M.....and beyond!
« Reply #1572 on: August 29, 2019, 09:16:45 PM »
Definitely relating to much of the recent posts. I'm going back to work (next week!) after my sabbatical. The sabbatical made it clear that I currently have zero desire to go back to work, have a big "career", or deal with bullshit. Here's why I'm going back:

-We'd planned to have me go part time (cutting my salary to probably 20% of what I currently make, as I wouldn't be able to do part time in current role & am very, very well paid) & my husband would keep working. This was his call & he's never expressed any desire to quit whatsoever. Until, the last few months. So, going back to work for a bit is a hedge to ensure if he reaches the FU point, we can make it work & allow both of us to FIRE.
-I'm up for a milestone promotion immediately upon my return. I've been in the industry for over 20 years, and this is a huge thing. While I'm currently not of the mindset to go back to work at all, what if that changes? Or, what if something happens to my husband over the next few years & he's unable to work. This is a hedge that will lock in my current level, in the unlikely event I need to go back for a few years & pull in a big salary.
-My son was recently diagnosed with ADHD. We have good health care, but many of the services we are considering are not covered by insurance & are incredibly pricey. I'd like to build enough of a cushion to cover those costs that weren't on the radar a year ago.

So, current revised plan:
-Return from sabbatical next week. Already had to schedule first international work trip. *tears*
-Hopefully get promoted in December
-Collect large bonus in January, max 401K & HSA out again
-Stay for sixish months post promo, per agreement with VPs
-Quit before my son (ADHD, so needing more support) starts high school next August.
-Find something part-time & flexible

We're in the $3.6M net worth range, but much of that is tied up into our housing. We could (as it's been pointed out so very many times ;-)) sell our house & move into something cheaper & both be done with working. It's partially inertia & also just the insane housing market where we are that's keeping us in place. Because of the house, our expenses are high & we need a large cushion to get through the next 6-7 years until both kids are in college.
Wow, your sabbatical is over already?! How time has flown. Or Iíve been busy being self-absorbed lately. One of the two. :-)

You your husband may be changing his thinking and might not want to continue working forever? What has prompted that in his mind?

webguy

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Re: Race from $2M to $3M.....and beyond!
« Reply #1573 on: August 30, 2019, 02:23:48 AM »
I'd like to join to help motivate me. Currently at $540k and hope to hit the big 1M in the next couple of years.

I made it to $748k! Keep saving everybody!!

I made it to $988k and was getting excited... and then taxes hit! Looks like it'll be another few months yet :(

I finally did it!! Crawled over the line to $1,000,330 today!  Feels pretty surreal. Never thought I'd actually be worth a million dollars. Now I guess I keep on saving towards the next million!

Currently at $1.11m.  Don't really have a goal number at this point. I love running my own business so just tryna ride it out as long as possible and "make hay while the sun shines" as they say.

Passed the half way point!  Somehow we have $1.535m. Not sure how long the next 0.465 will take but I'll report back if we get there!

It took a little longer than Iíd hoped due to the market being a douchebag lately but we Just hit 2 million today! Weíre officially multi-millionaires I guess! I crunched the numbers and I think our ďfat fireĒ number is around 2.5-3M so Iíll probably keep trucking away till we hit that, then Iím not sure what Iíll do.

Can I join your thread?  We just hit 2M yesterday! And with the friendly market today we're up another 15k already!  I'm carrying over our progress from the race to 2M thread if that's OK as I like keeping track of it this way.

Felt like we got stuck around 2.3M forever but finally hit 2.5M today! Next stop 3M... and beyond!

Itís been a long time coming but finally hit 3M today! Next stop... beyond! :)

2sk22

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Re: Race from $2M to $3M.....and beyond!
« Reply #1574 on: August 30, 2019, 03:56:19 AM »
Definitely relating to much of the recent posts. I'm going back to work (next week!) after my sabbatical. The sabbatical made it clear that I currently have zero desire to go back to work, have a big "career", or deal with bullshit. Here's why I'm going back:
...
We're in the $3.6M net worth range, but much of that is tied up into our housing. We could (as it's been pointed out so very many times ;-)) sell our house & move into something cheaper & both be done with working. It's partially inertia & also just the insane housing market where we are that's keeping us in place. Because of the house, our expenses are high & we need a large cushion to get through the next 6-7 years until both kids are in college.

As it happens, my sabbatical is over too. I am starting next week at a startup after 5 weeks off (I quit my megacorp job in July). I think of this as a post-retirement gig so I'm not stressed despite this being a startup! I know and like many of the people so hopefully, I'll have an enjoyable time.

All money feels abstract until you actually spend it, and money tied up in real-estate feels even more abstract! I think you have a good tactical approach to increasing your liquid net worth in the short run so hopefully, you can grit your teeth and get through it.

(Speaking as one who tried to grit his teeth and get through another six months at megacorp and failed :-))

MaybeBabyMustache

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Re: Race from $2M to $3M.....and beyond!
« Reply #1575 on: August 30, 2019, 07:56:13 AM »
@ysette9 - you've been just a little busy. ;-) My husband has had such a different experience than me, at the same company. He's been laid off 2x, and in the second "lay off", was offered a job that he didn't want but felt compelled to take to get him through this perf cycle. In all of the time I've known him, I've never seen him work this hard. 12 hour days in the office, and waking up at 2:00 am every day to WFH for 5 hours. He's also working all weekend. He's miserable, we never see him, and I think he's just come to the conclusion that he's done. Of course, he can go & find something else, but I also think he'd like the flexibility to just stop working & have the freedom to pick & choose between a role he really wants. We're financially not quite there yet. We need at least one of us working a "career job" for the next few years.

EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #1576 on: August 30, 2019, 08:19:21 AM »
Itís been a long time coming but finally hit 3M today! Next stop... beyond! :)

Congrats @webguy - do you have a number or an ER age you are shooting for?  Any changes on the horizon or are you just going to let it ride?

Car Jack

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Re: Race from $2M to $3M.....and beyond!
« Reply #1577 on: August 30, 2019, 09:09:53 AM »
In all of the time I've known him, I've never seen him work this hard. 12 hour days in the office, and waking up at 2:00 am every day to WFH for 5 hours. He's also working all weekend. He's miserable, we never see him, and I think he's just come to the conclusion that he's done.

There is an in between here and I went with it a long time ago.  Work 8-5.  No more than that.  No weekends, no late night, no work from home.  If the work doesn't all get done, it's because the employer needs to hire another worker.  But they won't when they have a patsy who will work for free on their own time.  I was lucky to see someone early in my career who was always working.  A layoff came and their entire group was laid off.  I talked with this person who said they would never again put in extra time.  They had done it for years and it bought them exactly zero.  Nothing.  Nada.  It was a waste of time.  But you have to have the discipline to stick with it.  If you don't.....well.....enjoy working for free.

webguy

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Re: Race from $2M to $3M.....and beyond!
« Reply #1578 on: August 30, 2019, 09:11:42 AM »
Itís been a long time coming but finally hit 3M today! Next stop... beyond! :)

Congrats @webguy - do you have a number or an ER age you are shooting for?  Any changes on the horizon or are you just going to let it ride?
Thanks! I don't really have an age in mind, but I have considered selling my business and cashing out and then just taking some time off.  I'm on the fence about it though. I could probably net about $2.5M after taxes which would put us in a pretty good place, but it's a business I've built from the ground-up and poured blood, sweat and tears into so I'm not sure if I want to sell it. I may just hire myself mostly out of the business instead and keep it rolling. Hopefully I'll have figured it out by the next time I post an update in here.

jengod

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Re: Race from $2M to $3M.....and beyond!
« Reply #1579 on: August 30, 2019, 09:16:32 AM »
I'd like to join to help motivate me. Currently at $540k and hope to hit the big 1M in the next couple of years.

I made it to $748k! Keep saving everybody!!

I made it to $988k and was getting excited... and then taxes hit! Looks like it'll be another few months yet :(

I finally did it!! Crawled over the line to $1,000,330 today!  Feels pretty surreal. Never thought I'd actually be worth a million dollars. Now I guess I keep on saving towards the next million!

Currently at $1.11m.  Don't really have a goal number at this point. I love running my own business so just tryna ride it out as long as possible and "make hay while the sun shines" as they say.

Passed the half way point!  Somehow we have $1.535m. Not sure how long the next 0.465 will take but I'll report back if we get there!

It took a little longer than Iíd hoped due to the market being a douchebag lately but we Just hit 2 million today! Weíre officially multi-millionaires I guess! I crunched the numbers and I think our ďfat fireĒ number is around 2.5-3M so Iíll probably keep trucking away till we hit that, then Iím not sure what Iíll do.

Can I join your thread?  We just hit 2M yesterday! And with the friendly market today we're up another 15k already!  I'm carrying over our progress from the race to 2M thread if that's OK as I like keeping track of it this way.

Felt like we got stuck around 2.3M forever but finally hit 2.5M today! Next stop 3M... and beyond!

Itís been a long time coming but finally hit 3M today! Next stop... beyond! :)

Terrific. Nicely done and congrats.

MaybeBabyMustache

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Re: Race from $2M to $3M.....and beyond!
« Reply #1580 on: August 30, 2019, 09:38:13 AM »
@2sk22 - it's pretty hard to even think about coming back, but I keep reminding myself that I'm buying flexibility for both of us (myself & my husband). He was super supportive about the sabbatical, & I want to make sure he feels supported in the future, should he ever need/want to leave his high paying job for something else.

MaybeBabyMustache

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Re: Race from $2M to $3M.....and beyond!
« Reply #1581 on: August 30, 2019, 09:40:01 AM »
@Car Jack - we've had that conversation & I've encouraged as much as I can. He needs to come to that realization on his own, and he's not quite there yet. It's definitely coming, as he sees how much time he's investing for minimal upside. I give it another few months. With me returning to work, international travel, etc, it's pretty clear that something has got to give, and that thing is going to be his schedule.

ysette9

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Re: Race from $2M to $3M.....and beyond!
« Reply #1582 on: August 30, 2019, 10:52:08 AM »
Oh, the ďNo Asshole RuleĒ pops up! I took a class from the author when I was doing my masterís at Stanford just as that book was being published so I got to hear him self promote a good amount during lectures. It was a good class with good material but I have to say that the professor was full of himself. Iím glad you found the book helpful though. :)

EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #1583 on: August 30, 2019, 11:45:57 AM »
Itís been a long time coming but finally hit 3M today! Next stop... beyond! :)

Congrats @webguy - do you have a number or an ER age you are shooting for?  Any changes on the horizon or are you just going to let it ride?
Thanks! I don't really have an age in mind, but I have considered selling my business and cashing out and then just taking some time off.  I'm on the fence about it though. I could probably net about $2.5M after taxes which would put us in a pretty good place, but it's a business I've built from the ground-up and poured blood, sweat and tears into so I'm not sure if I want to sell it. I may just hire myself mostly out of the business instead and keep it rolling. Hopefully I'll have figured it out by the next time I post an update in here.

Well, welcome to the ranks of having plenty of money and still not knowing exactly what you want to do next!  There are certainly worse things than having the net worth grow while you figure it out.  I've tried a little bit of everything - ramping up spending / giving,  more travel, new hobbies, more time off ...  it's nice to have the options FI gives us, with ER just being one.

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #1584 on: August 30, 2019, 01:48:08 PM »
I have about 1.76 million in the liquid portion, and the real estate pushes me over the 2 million mark, but I simply am content to coast along.
I work part time, and that suits me. It affords me the time to do the things I enjoy.
My spending is barely $2500 a month, so I don't need a lot. I don't really like to travel. I'm a homebody.
No kids to worry about.

pecunia

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Re: Race from $2M to $3M.....and beyond!
« Reply #1585 on: August 30, 2019, 02:21:03 PM »
I have about 1.76 million in the liquid portion, and the real estate pushes me over the 2 million mark, but I simply am content to coast along.
I work part time, and that suits me. It affords me the time to do the things I enjoy.
My spending is barely $2500 a month, so I don't need a lot. I don't really like to travel. I'm a homebody.
No kids to worry about.

I knew a guy once who got rich with the liquid portion like yourself.  He invested in an oil well and there was actually oil there.

The sad thing was he was exposed to Agent Orange in Vietnam and all that money didn't help him.

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #1586 on: August 30, 2019, 07:27:08 PM »
I realize now my spending is more like $3,000 a month.

pecunia

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Re: Race from $2M to $3M.....and beyond!
« Reply #1587 on: August 31, 2019, 08:07:57 AM »
$3,000 / month  X 12 = $36,000 per annum

$36,000 / .04 = $900,000 for good chance of self sustaining.

$900,000 < $2,000,000 or $1,760,000

You are doing well.  More than 25 years of decent living saved.

I think a lot of people have yet to learn what you have.  The time is more important than the money.  I am still learning it.

EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #1588 on: August 31, 2019, 12:34:04 PM »
$3,000 / month  X 12 = $36,000 per annum

$36,000 / .04 = $900,000 for good chance of self sustaining.

$900,000 < $2,000,000 or $1,760,000

You are doing well.  More than 25 years of decent living saved.

I think a lot of people have yet to learn what you have.  The time is more important than the money.  I am still learning it.

Two interesting things summed up by all this.  First, the math is easy.  Once you hit a calculated 'number' then you can feel free and you have all the data history can provide to back you up.  Get on with life!  Second, Time is only more important than money when you have more than enough of one or the other.  If you feel poor and miserable perpetually, then time is not very important.  If you are going to die soon, then maybe making sure your estate that you worked your life for is taken care of is a good idea.  Very few folks in the modern age need to worry about monetary poverty, but we still seem to live in constant fear of this.  So then time is most likely more important than money, but we all have all the time in the world (from our own perspective). 

billsfan1_2000

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Re: Race from $2M to $3M.....and beyond!
« Reply #1589 on: September 01, 2019, 08:50:11 AM »
Hey all!  Long time lurker first time poster to this thread.  Congrats to all on your affluence. 

I am solidly in this cohort having just run the August 31 balances I am at a sporty $3.440M.  Not bad for an upstate New Yorker who grew up in a 1,000 sq ft home....

So anyway - let's start the discussion.....

- It is IMPOSSIBLE for a government to run trillion dollar deficits as far as the eye can see.....and run up a tab of over $22 trillion to this point;
- It is HIGHLY LIKELY a socialist will be elected president in 2020....and only ballon the problem even further;
- The dollar is likely to be under siege as a result.......

Apart from gold, silver, non dollar denominated investments, storing cash overseas......how are we protecting ourselves gang? 

I do NOT want to have my ER joy undermined by idiot politicians who are out of control......




Exflyboy

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Re: Race from $2M to $3M.....and beyond!
« Reply #1590 on: September 01, 2019, 09:04:32 AM »
I'm not sure there is a way legally to protect ourselves from the Government. All of your accounts/investments are required to be declared (over a certain limit) no matter where they are in the World.

I guess you could in theory have lots of little accounts all over the world, not sure if you have to report them in aggregate?

So whatever stupid scheme the Government comes up with we are going to be subject to the rules at the time.

I guess my default is.. As screwed up as we are in the US, almost everybody else is more screwed up than we are.. Like where else other than the US stock market is there to put your money to get a decent return?

ysette9

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Re: Race from $2M to $3M.....and beyond!
« Reply #1591 on: September 01, 2019, 10:33:08 AM »
welcome out of lurkdom, @billsfan1_2000

We are already on page 33 of an ongoing discussion focused on the journey from 2-3 million in a general sense.   There are people here of many stripes, and different political and economic mindsets.  This might not be the right place to "start a discussion" in the way you have just done.   Starting your own thread on that topic might be a better strategy.
I agree it is better to take those concerns to a separate thread.

pecunia

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Re: Race from $2M to $3M.....and beyond!
« Reply #1592 on: September 01, 2019, 11:27:57 AM »
Yeh - Buffalo man - I am sure you would get a lot of interest on another thread.  It would be an interesting discussion.

Most comments given on this thread have been pretty happy.  People here have done a good job to remind me that things are going well and there is a lot to look forward too.

soccerluvof4

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Re: Race from $2M to $3M.....and beyond!
« Reply #1593 on: September 02, 2019, 03:48:25 AM »
Yea there have been discussion on part of you question of debt on other threads , I belong to this one because we dont really discuss politics to deep. Appreciate your concerns but politics just seem to ruin a good thread. Financially love to have ya hear!

MaybeBabyMustache

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Re: Race from $2M to $3M.....and beyond!
« Reply #1594 on: September 02, 2019, 08:51:43 AM »
Agree, please move your political conversation to the Off Topic area @billsfan1_2000

DavidAnnArbor

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Re: Race from $2M to $3M.....and beyond!
« Reply #1595 on: September 02, 2019, 01:51:18 PM »
The good news from the government perspective is that the interest rate on a 10 year Treasury bond is 1.5%

pecunia

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Re: Race from $2M to $3M.....and beyond!
« Reply #1596 on: September 02, 2019, 07:06:35 PM »
The good news from the government perspective is that the interest rate on a 10 year Treasury bond is 1.5%

Tidbit - The Authors of "Your Money Or Your Life," used T Bills for their income.  Their return was 12% in an inflationary time.

https://www.mrmoneymustache.com/2012/12/18/your-money-or-your-life/

EscapeVelocity2020

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Re: Race from $2M to $3M.....and beyond!
« Reply #1597 on: September 02, 2019, 10:42:04 PM »
The good news from the government perspective is that the interest rate on a 10 year Treasury bond is 1.5%

Tidbit - The Authors of "Your Money Or Your Life," used T Bills for their income.  Their return was 12% in an inflationary time.

https://www.mrmoneymustache.com/2012/12/18/your-money-or-your-life/

Oh let there be no doubt that 1.5% nominal (who knows what that is for you 'real', since inflation is personal, especially depending on your healthcare, college education, and credit needs) sucks.  I'd be much more comfortable with 12% nominal and figuring out my own inflation impact.

Car Jack

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Re: Race from $2M to $3M.....and beyond!
« Reply #1598 on: September 06, 2019, 11:10:31 AM »
The good news from the government perspective is that the interest rate on a 10 year Treasury bond is 1.5%

Tidbit - The Authors of "Your Money Or Your Life," used T Bills for their income.  Their return was 12% in an inflationary time.

https://www.mrmoneymustache.com/2012/12/18/your-money-or-your-life/

Oh let there be no doubt that 1.5% nominal (who knows what that is for you 'real', since inflation is personal, especially depending on your healthcare, college education, and credit needs) sucks.  I'd be much more comfortable with 12% nominal and figuring out my own inflation impact.

You bring up a really good point, so I bolded it.  Hearing some inflation number at xyz% can be useful or it could be meaningless.  What makes up that number?  Do you buy the things that make it up?  Perhaps the median price of a new house is in that number.  Ok....but for someone not buying a house, who cares?  Maybe cars jumped 30% because the volcano of Automobile-land blew its stack, shutting down supply.  If you don't expect to buy a car for 10 years....again....who cares?  It will matter if you're looking for a bank/CD/HYSA kinda account to park money and the rate goes down.

I guess just some food for thought.

BeanCounter

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Re: Race from $2M to $3M.....and beyond!
« Reply #1599 on: September 06, 2019, 11:27:48 AM »
The good news from the government perspective is that the interest rate on a 10 year Treasury bond is 1.5%

Tidbit - The Authors of "Your Money Or Your Life," used T Bills for their income.  Their return was 12% in an inflationary time.

https://www.mrmoneymustache.com/2012/12/18/your-money-or-your-life/

Oh let there be no doubt that 1.5% nominal (who knows what that is for you 'real', since inflation is personal, especially depending on your healthcare, college education, and credit needs) sucks.  I'd be much more comfortable with 12% nominal and figuring out my own inflation impact.

You bring up a really good point, so I bolded it.  Hearing some inflation number at xyz% can be useful or it could be meaningless.  What makes up that number?  Do you buy the things that make it up?  Perhaps the median price of a new house is in that number.  Ok....but for someone not buying a house, who cares?  Maybe cars jumped 30% because the volcano of Automobile-land blew its stack, shutting down supply.  If you don't expect to buy a car for 10 years....again....who cares?  It will matter if you're looking for a bank/CD/HYSA kinda account to park money and the rate goes down.

I guess just some food for thought.
I can tell you what makes up a lot of the number- health care. Pharmacy inflation runs about 11% and medical 5% year over year. Unfortunately, you often don't know when you are going to be buying it and when you're not.
Sorry to be a downer.