Race from $2M to $4M...and Beyond!

[Taran Wanderer]

I logged into my 401k today to download a statement. Its retirement calculator says I’m at 107% of needed funds for my planned fat FIRE. I had plugged 50 into the calculator, and I don’t think it would accept anything younger. It seems like we just hit $1M NW, and now we just passed $3M. While I know I could FIRE or downshift at any time, there are things I still want to accomplish.  And seeing mid 6-figures roll in each year to add to the stash is reassuring. So we’re carrying on… for now.

[JoePublic3.14]

The inflation rate is more than 10%, probably at around 100% for some daily items.

I monitor my expenses pretty closely. I'm still spending less on a monthly basis than pre-covid.

I don't monitor closely, but discretionary items go on our credit cards and those balances are significantly higher month after month than they were both pre-Covid and, after a dip for the first year, now post-Covid.  As far as I can tell, our lifestyle hasn't inflated :)

This is about as close as I track also, and have seen the same. Is what it is I suppose.

[2sk22]

It's been a full year since I retired - my last paycheck was at the end of September 2020 so here's an update in our finances: Our invested net worth (i.e. IRA, 401k and post tax accounts) has grown from $5M to $6.2M. This increase is due to my wife's salary, a chunk of her RSUs vesting and market appreciation. My wife's company got nervous that she might leave in the middle of the year so they are paying her a retention bonus at the end of this year - I'm not complaining :-)

We did not hold back on spending! We did a major home renovation project right after I retired to create a comfortable study and space for my hobbies (among other things). Bought a new Honda CR-V and gave my ten year old Prius to my older daughter. Paid for the first semester of my younger daughter's college. Not a whole lot of travel however, just a few short domestic trips.

[Exflyboy]

It's been a full year since I retired - my last paycheck was at the end of September 2020 so here's an update in our finances: Our invested net worth (i.e. IRA, 401k and post tax accounts) has grown from $5M to $6.2M. This increase is due to my wife's salary, a chunk of her RSUs vesting and market appreciation. My wife's company got nervous that she might leave in the middle of the year so they are paying her a retention bonus at the end of this year - I'm not complaining :-)

We did not hold back on spending! We did a major home renovation project right after I retired to create a comfortable study and space for my hobbies (among other things). Bought a new Honda CR-V and gave my ten year old Prius to my older daughter. Paid for the first semester of my younger daughter's college. Not a whole lot of travel however, just a few short domestic trips.

Wait you have TWICE as much money as I do and you bought a CRV?.. I at least bought a Passport so I think you should do your duty and stimulate the economy a bit more!

Well done of the stash, thats very impressive!

[2sk22]

Wait you have TWICE as much money as I do and you bought a CRV?.. I at least bought a Passport so I think you should do your duty and stimulate the economy a bit more!

Well done of the stash, thats very impressive!

Thanks - the stash is mainly the result of 28 years of steady index fund investing (JL Collins is right). My main achievement was simply staying in the game long enough to allow compounding to do it's magic.

Regarding the CRV: I was willing to spend up to $50k and looked at every possible alternative and test drove a few of them. But none of them came close to meeting my needs as well as the CRV. Once you have leather, sunroof and Apple CarPlay, the other feature seem pretty much irrelevant :-)

[Car Jack]

It is never inappropriate to buy below one's "station in life" because of savings.  I'll use myself as the example here with reasons that high priced cars don't "fit" me in a lot of ways.  We just crossed over $3.6M and have another couple hundred grand in checking.

Cars considered because I'd really like them and reason I won't consider them:

high maintenance cost or poor reliability:
Gallardo
R8
Vantage
Cayman/Boxster
BMW (would only consider n/a straight 6)
Audi
Mercedes
MINI

No manual:
Lexus
Supra
NSX
GT-R

Under strong consideration:
Lotus Emira 6 manual (toyota drivetrain)
2022 Subaru BRZ 6 manual

With the Emira being new and under high demand, the added dealer markup will likely throw that car out of my consideration.  Honestly, the BRZ/86 is a nicely improved car for a worldwide market of 345 people, so after dealers do their markup for 6 months and realize they've sold zero cars, they'll become cheap enough.  I personally like no sunroof and manual seats, so whatever trim I can get those works for me.  I have found that limited Subarus (leather) tend to be far better built than non limited (have had several of both), but the roof/seat are more important to me.  So I guess I'm looking to buy beneath my station in life.

And to be honest, I'm considering just getting some nicer wheels and summer tires for my Crosstrek and calling it a day.  I really like the car and don't need more power.

[Bateaux]

We'll buy a new car in the next 18 months.  It's probably the Acura MDX, Lexus 350 or Honda Pilot.  I want a real transmission and non turbo V-6.  It needs to haul 4 bicycles on a hitch, tow 3500 pounds, be long enough for seat down sleeping inside and carry 6 passengers when needed.  I'd love an EV but don't think we'll see that in 18 months.

[Exflyboy]

We'll buy a new car in the next 18 months.  It's probably the Acura MDX, Lexus 350 or Honda Pilot.  I want a real transmission and non turbo V-6.  It needs to haul 4 bicycles on a hitch, tow 3500 pounds, be long enough for seat down sleeping inside and carry 6 passengers when needed.  I'd love an EV but don't think we'll see that in 18 months.

Just got ourselves a new Passport Sport model.. We love it!

I bought a $12 circuit from Amazon to push the "A" button that stops the damn thing doing the auto stop-start thing. Tows 3500lb (5000 with the tranny cooler) .

It goes like stink in "Sport" mode and they seem to have fixed the 9 speed auto.

The Passport is long enough to sleep in but I made a head rest extension of around 10 inches for the rear seat backs.. This provides a full 6'-4" of sleeping length. The Pilot is 6" longer than the Passport.

You can find all the mods I've done so far on my journal if you haven't seen it.

[Bateaux]

We'll buy a new car in the next 18 months.  It's probably the Acura MDX, Lexus 350 or Honda Pilot.  I want a real transmission and non turbo V-6.  It needs to haul 4 bicycles on a hitch, tow 3500 pounds, be long enough for seat down sleeping inside and carry 6 passengers when needed.  I'd love an EV but don't think we'll see that in 18 months.

Just got ourselves a new Passport Sport model.. We love it!

I bought a $12 circuit from Amazon to push the "A" button that stops the damn thing doing the auto stop-start thing. Tows 3500lb (5000 with the tranny cooler) .

It goes like stink in "Sport" mode and they seem to have fixed the 9 speed auto.

The Passport is long enough to sleep in but I made a head rest extension of around 10 inches for the rear seat backs.. This provides a full 6'-4" of sleeping length. The Pilot is 6" longer than the Passport.

You can find all the mods I've done so far on my journal if you haven't seen it.

I'll have to look at your journal.  Pilot is the most likely candidate unless we find some unforseen deal on the MDX.  Passport does share many features.  Rock solid vehicles.  The Lexus is no slouch either.  Retirement car for my wife.

[Taran Wanderer]

You all could go with the Odyssey. Same drivetrain and towing capacity as the Pilot and a full 8 feet of room in the back to sleep. Of course, the body style is the dreaded minivan…

[Fomerly known as something]

Two commas in my TSP (401k) So I can now go back to to not checking it every morning after every good market day.

[sixwings]

You all could go with the Odyssey. Same drivetrain and towing capacity as the Pilot and a full 8 feet of room in the back to sleep. Of course, the body style is the dreaded minivan…

Nothing says more about your virility than a mini-van.

[Bateaux]

You all could go with the Odyssey. Same drivetrain and towing capacity as the Pilot and a full 8 feet of room in the back to sleep. Of course, the body style is the dreaded minivan…

Nothing says more about your virility than a mini-van.

I'd love the Odyssey or Sienna mini-van.  The wife says no way.

[Taran Wanderer]

You all could go with the Odyssey. Same drivetrain and towing capacity as the Pilot and a full 8 feet of room in the back to sleep. Of course, the body style is the dreaded minivan…

Nothing says more about your virility than a mini-van.

Yeah, sure, that’s what I tell myself when I drive ours.

[couponvan]

You all could go with the Odyssey. Same drivetrain and towing capacity as the Pilot and a full 8 feet of room in the back to sleep. Of course, the body style is the dreaded minivan…

Nothing says more about your virility than a mini-van.

Legit spit laughing reading that. My hubs was glad to trade the Odyssey for a Pilot. I made him keep my old baby wagon!