Author Topic: Race from $2M to $4M...and Beyond!  (Read 972525 times)

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #6250 on: June 18, 2022, 07:43:57 AM »
We have old ratty equipment that should have been replaced decades ago.
...
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. 

Please, on behalf of our nation, help that report get revealed.   

MaybeBabyMustache

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Re: Race from $2M to $4M...and Beyond!
« Reply #6251 on: June 18, 2022, 08:47:07 AM »
Just checked my 401k balance, and it's below $1m for the first time in a while. (My husband has his own, similarly sized account). That was depressing. I've also maxed it out for the year, and done a full back door contribution, so it's a little hard to watch. But, alas, here we are. Guess I'll go out for a hike & forget about that!

Dicey

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Re: Race from $2M to $4M...and Beyond!
« Reply #6252 on: June 18, 2022, 09:24:42 AM »
Just checked my 401k balance, and it's below $1m for the first time in a while. (My husband has his own, similarly sized account). That was depressing. I've also maxed it out for the year, and done a full back door contribution, so it's a little hard to watch. But, alas, here we are. Guess I'll go out for a hike & forget about that!
Good example, MBM. You're part of this club no matter what the market does. Your 401ks are not your only investments ;-)

I feel your pain on the pinch you're feeling for frontloading 2022, but it will all work out in the long run.

BeanCounter

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Re: Race from $2M to $4M...and Beyond!
« Reply #6253 on: June 19, 2022, 06:16:04 AM »
I wasn't going to look. And then I couldn't help myself.
We're down about $700k or 20%. Still in the club. Still FI. Just not pressing to beyond.

I was at our "fancy" grocery yesterday to buy some nice steaks to grill for father's day and I noticed that prices are high enough that I'm starting not to feel rich anymore. Everything feels expensive, therefore the stash number is starting to feel like "not enough".
I do realize that all of that is psychological and frankly ridiculous.

DH is still working. I'm still doing some part time contract work to keep my foot in the door. I'm not sure we really need to do any of that but he's happy working and my current projects keep me busy when the kids are at school or sports. We can't travel a lot because of the kid's school and activities anyway. And honestly, because we still have two kids at home (ages 13 and 9) our expenses are still kind of hard to predict. So as long as we aren't stressed about working it's good to have a little cushion I suppose.

So we'll keep on trucking and enjoy today and not worry about it! Speaking of which, I've got to bake a coffee cake for fathers day breakfast on the patio :)..........





arcturus

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Re: Race from $2M to $4M...and Beyond!
« Reply #6254 on: June 19, 2022, 09:29:19 AM »
Just read a somewhat encouraging view from BofA's grand investment sorcerer.....using past bear markets as a guide, he/she points to perhaps some more near term downside (~10%), but a hopeful return of a bull market before the end of the year (they mention October), and then they state that if the next bull run is typical, it could last 5 years and take the S&P to 6,000+.

I know we're all pretty cynical about whether these folks are any better than the flip of a coin (and I'm right there too), but it is at least somewhat interesting that this is based on historical averages.

Out of curiosity, I did a "back of the envelope" analysis of what that type of a scenario might do to my situation.  And its ok -- maybe not what I would have hoped for 6-7 months ago, but ok and could still be on track, although I don't think I'll ever be a member of the "and Beyond" crowd on this thread.

Once again, I found the exercise of modeling this scenario (albeit very, very simplistically) to be useful, at least for me.   I definitely wish I had cash on the sidelines ready to deploy over the next six months, but alas, I'm just not in that position.

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #6255 on: June 19, 2022, 09:38:46 AM »
Those were good days when I was briefly in the "and beyond."  Now, I find myself back on the ground, but it's solid ground and things are going to be OK.  The sun shines.  The wind blows.  The grass is green and people smile.  Things are going to be OK.

Fomerly known as something

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Re: Race from $2M to $4M...and Beyond!
« Reply #6256 on: June 19, 2022, 10:10:51 AM »
Just checked my 401k balance, and it's below $1m for the first time in a while. (My husband has his own, similarly sized account). That was depressing. I've also maxed it out for the year, and done a full back door contribution, so it's a little hard to watch. But, alas, here we are. Guess I'll go out for a hike & forget about that!
Good example, MBM. You're part of this club no matter what the market does. Your 401ks are not your only investments ;-)

I feel your pain on the pinch you're feeling for frontloading 2022, but it will all work out in the long run.

Iím adding in cash a cash position for when I Retire in July 2025.  Iím now debating on if and how much I should go back to putting into my taxable account (tax advantaged accounts are maxed out for 2022/on schedule to be maxed out in the case of the TSP).  Iím about $14k from my cash goal and I fund that with mostly found money and it should be funded by mid year next year accounting to the way Iíve been doing that lately.

LightTripper

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Re: Race from $2M to $4M...and Beyond!
« Reply #6257 on: June 20, 2022, 05:22:17 AM »
Still in the club.  Down last time I checked but not horribly.  Due to OMY'ing last year I'm still a bit long cash, so have been investing some of that over the last few weeks and will do a bit more.

I'm not overly freaked out by this particular shift - though it seems hard to see a quick/easy way out of the current global situation, so I suspect we may have to suck up quite a bit more financial pain before we are through to the other side.

I suppose the more "macro" way it shifts my view is that it focuses my mind on the fact that I will be retired for potentially 50 years, and a lot can happen in that time - the world will change in ways that we can't even imagine (hopefully including some good ways).

For me the way I think about it is that I can always work more and generate value later if needed.  It's not a reason to put off my FIREing plan any more right now (still planning to pull the plug at the end of the year) - just a reason to try to remain fairly limber and flexible post-FIRE.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #6258 on: June 20, 2022, 12:51:22 PM »
Those were good days when I was briefly in the "and beyond."  Now, I find myself back on the ground, but it's solid ground and things are going to be OK.  The sun shines.  The wind blows.  The grass is green and people smile.  Things are going to be OK.

Absolutely! Think abut it.. We almost melted down the economy in 2008.. Literally almost financial collapse!.. Yet in 2009 the market went of the biggest bull run ever after a 55% pullback in equities.

Heck, for most of us, even if the same thing happened we'd still be millionaires!


Allie

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Re: Race from $2M to $4M...and Beyond!
« Reply #6259 on: June 20, 2022, 02:44:17 PM »
I saw the post and just checkedÖweíre down 400k.  Itís a bummer, but I think weíre still FI and we have a few more years of accumulation.  We really started to get serious about accumulating in 2007, so we didnít lose much in 2008 and the rising market really helped keep us motivated and pushed us along faster than we would have otherwise experienced.  Iím anxious (nervous, excited, curious anxious not nervous) to see what happens over the next 5 years. 

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #6260 on: June 21, 2022, 09:04:22 PM »
Those were good days when I was briefly in the "and beyond."  Now, I find myself back on the ground, but it's solid ground and things are going to be OK.  The sun shines.  The wind blows.  The grass is green and people smile.  Things are going to be OK.

Absolutely! Think abut it.. We almost melted down the economy in 2008.. Literally almost financial collapse!.. Yet in 2009 the market went of the biggest bull run ever after a 55% pullback in equities.

Heck, for most of us, even if the same thing happened we'd still be millionaires!

2008/2009 was a time of deep despair for us.  Son had cancer at 14.  Wife couldn't work for nearly two years because cancer treatments were out of state in Tennessee.  Gasoline was $4 a gallon!!!  It was a 400 mile drive back and forth to the hospital.  Our savings cash and retirement had taken a huge hit.  I had to be a single parent to our 12 year old in Louisiana.  I'd try and make the drive up for family time at least every other week.  The salvation was I had a big groovy conversation van with a bed in the back.  Terrible gas mileage but my son could sleep in the back on the overnight drives to see his mom and brother. 
My son survived, my wife went back to work and we were a family in one place again.  To compare this dip in the markets to that time for us... please. 

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #6261 on: June 21, 2022, 09:49:05 PM »
Those were good days when I was briefly in the "and beyond."  Now, I find myself back on the ground, but it's solid ground and things are going to be OK.  The sun shines.  The wind blows.  The grass is green and people smile.  Things are going to be OK.

Absolutely! Think abut it.. We almost melted down the economy in 2008.. Literally almost financial collapse!.. Yet in 2009 the market went of the biggest bull run ever after a 55% pullback in equities.

Heck, for most of us, even if the same thing happened we'd still be millionaires!

2008/2009 was a time of deep despair for us.  Son had cancer at 14.  Wife couldn't work for nearly two years because cancer treatments were out of state in Tennessee.  Gasoline was $4 a gallon!!!  It was a 400 mile drive back and forth to the hospital.  Our savings cash and retirement had taken a huge hit.  I had to be a single parent to our 12 year old in Louisiana.  I'd try and make the drive up for family time at least every other week.  The salvation was I had a big groovy conversation van with a bed in the back.  Terrible gas mileage but my son could sleep in the back on the overnight drives to see his mom and brother. 
My son survived, my wife went back to work and we were a family in one place again.  To compare this dip in the markets to that time for us... please.

Ugh, man I couldn't imagine what you guys went through!..:(

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #6262 on: June 21, 2022, 10:13:03 PM »
Those were good days when I was briefly in the "and beyond."  Now, I find myself back on the ground, but it's solid ground and things are going to be OK.  The sun shines.  The wind blows.  The grass is green and people smile.  Things are going to be OK.

Absolutely! Think abut it.. We almost melted down the economy in 2008.. Literally almost financial collapse!.. Yet in 2009 the market went of the biggest bull run ever after a 55% pullback in equities.

Heck, for most of us, even if the same thing happened we'd still be millionaires!

2008/2009 was a time of deep despair for us.  Son had cancer at 14.  Wife couldn't work for nearly two years because cancer treatments were out of state in Tennessee.  Gasoline was $4 a gallon!!!  It was a 400 mile drive back and forth to the hospital.  Our savings cash and retirement had taken a huge hit.  I had to be a single parent to our 12 year old in Louisiana.  I'd try and make the drive up for family time at least every other week.  The salvation was I had a big groovy conversation van with a bed in the back.  Terrible gas mileage but my son could sleep in the back on the overnight drives to see his mom and brother. 
My son survived, my wife went back to work and we were a family in one place again.  To compare this dip in the markets to that time for us... please.

Ugh, man I couldn't imagine what you guys went through!..:(

It's a huge part of us.  We were lucky that we had a great family and friends support group.   We were debt free going into it.  No Mr. Money Mustache back then.  We were just frugal.  We watched people lose their houses and marriages over money woes.  We certainly weren't alone.  The entire country was hurting.  I hope that was the big one for this century.   

Much Fishing to Do

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Re: Race from $2M to $4M...and Beyond!
« Reply #6263 on: June 22, 2022, 06:34:48 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?

Wow, I've never been called a heavyweight, before but I sure did pack on the COvid-19lbs....

Looks like my TNW has dropped from 4.85M at the start of the year to 4.25M (LNW about a million less on each).  Just because of coincidental timing in 2008 with big income and having no money in 2000, it looks like this will be the first time in 20 years of positive net worth that my NW might drop in a calendar year.

Oh well, 5 years ago I would have considered 4.85M and 4.25M practically the same (rounding error) so not exactly crushing.  And I do continue to work, but as it has been the last few years that's a personal problem I'm working through and not due to any market drop. 


MaybeBabyMustache

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Re: Race from $2M to $4M...and Beyond!
« Reply #6264 on: June 22, 2022, 08:19:47 AM »
@Bateaux - that really puts it all in perspective, doesn't it? So happy that your family is back together again, and that you had such a great network to help you during what must have been an incredibly difficult time.

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Re: Race from $2M to $4M...and Beyond!
« Reply #6265 on: June 23, 2022, 04:14:56 AM »
Well.  The new TSP website did not play well integrating into my Financial Advisors website.  So I had to input it manually which meant I had to look at it.  Ouch down over $150k.