Author Topic: Membership in the seven figures club feels so good  (Read 5128 times)

tipster350

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Membership in the seven figures club feels so good
« on: September 22, 2018, 11:50:47 AM »
Does it feel as good as membership in the Mile High Club? Sadly, I will probably never know. But I am feeling miles high right now!

Back in the late Spring I stopped tracking my investments.  According to my estimates, I wouldn't hit the milestone until early next year. Most of my saving takes place in Q1. There were a lot of big and unexpected expenses this Summer so I just kept my head down and lived life.

This morning I decided to take a peek at how things were going. I was astonished to see seven figures in the total. Holy crapballs a million is a lot of money. It is and it isn't. It is ..it isn't. Well it has taken me a long time, with lots of twists and turns and mistakes, and I am in my late fifties so am hardly a wunderkind as many of you are. But for me, this is darn sweet. I'm sort of FI, not yet able to support my current lifestyle, but could sell the house and manage to survive as long as some form of the ACA is available. It is a huge relief.

I have to share it with someone so thank you for reading. I can't tell anyone in RL about my accomplishment.

2Birds1Stone

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Re: Membership in the seven figures club feels so good
« Reply #1 on: September 22, 2018, 12:19:39 PM »
Congrats! It's definitely a vanity goal for SO and I to join the club, even if it's temporarily =)

EnjoyIt

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Re: Membership in the seven figures club feels so good
« Reply #2 on: September 22, 2018, 12:22:42 PM »
Does it feel as good as membership in the Mile High Club? Sadly, I will probably never know. But I am feeling miles high right now!

Back in the late Spring I stopped tracking my investments.  According to my estimates, I wouldn't hit the milestone until early next year. Most of my saving takes place in Q1. There were a lot of big and unexpected expenses this Summer so I just kept my head down and lived life.

This morning I decided to take a peek at how things were going. I was astonished to see seven figures in the total. Holy crapballs a million is a lot of money. It is and it isn't. It is ..it isn't. Well it has taken me a long time, with lots of twists and turns and mistakes, and I am in my late fifties so am hardly a wunderkind as many of you are. But for me, this is darn sweet. I'm sort of FI, not yet able to support my current lifestyle, but could sell the house and manage to survive as long as some form of the ACA is available. It is a huge relief.

I have to share it with someone so thank you for reading. I can't tell anyone in RL about my accomplishment.

Congrats.  Hitting $1 million says that at anytime you can move to a LCOL area and never work another day in your life.  You now have options which is a massive stress relief.  In addition, $1 million plus social security guarantees a very comfortable retirement.  Congrats again.

smoghat

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Re: Membership in the seven figures club feels so good
« Reply #3 on: September 22, 2018, 12:38:14 PM »
It’s great! Congratulations. Me, I am bummed when I’m below 5M. I was at 5.2 at the start of the year, but then talks of tariff wars brought me down to 4.7.  Back up to 5 again. I tell my wife, I don’t feel comfortable below that. Above it, I can eat steak. Or rather serve brisket to guests instead of pulled pork.

tipster350

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Re: Membership in the seven figures club feels so good
« Reply #4 on: September 22, 2018, 12:52:04 PM »
It’s great! Congratulations. Me, I am bummed when I’m below 5M. I was at 5.2 at the start of the year, but then talks of tariff wars brought me down to 4.7.  Back up to 5 again. I tell my wife, I don’t feel comfortable below that. Above it, I can eat steak. Or rather serve brisket to guests instead of pulled pork.


https://www.realsimple.com/work-life/technology/communication-etiquette/humblebrag

PhrugalPhan

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Re: Membership in the seven figures club feels so good
« Reply #5 on: September 22, 2018, 01:08:23 PM »
Does it feel as good as membership in the Mile High Club? Sadly, I will probably never know. But I am feeling miles high right now!

Back in the late Spring I stopped tracking my investments.  According to my estimates, I wouldn't hit the milestone until early next year. Most of my saving takes place in Q1. There were a lot of big and unexpected expenses this Summer so I just kept my head down and lived life.

This morning I decided to take a peek at how things were going. I was astonished to see seven figures in the total. Holy crapballs a million is a lot of money. It is and it isn't. It is ..it isn't. Well it has taken me a long time, with lots of twists and turns and mistakes, and I am in my late fifties so am hardly a wunderkind as many of you are. But for me, this is darn sweet. I'm sort of FI, not yet able to support my current lifestyle, but could sell the house and manage to survive as long as some form of the ACA is available. It is a huge relief.

I have to share it with someone so thank you for reading. I can't tell anyone in RL about my accomplishment.
As someone who just turned 56, like you I had lots of twists over time, started fresh at 36 with $0 but no debt (but plenty of determination) and when I add up everything today I am near you at just over $950k (plus a paid house and a nice pension awaiting me @ 60).  Still hard to wrap my head around the fact if I left my good paying job I would survive just fine.  Thankfully I don't need the ACA - I can marry my GF and get federal employee health benefits at a decent rate. 

I think at this point you need to work on making sure your health is top rate.  I workout daily at the gym in my office building, and every year my physical shows I am doing great.   I plan on walking out one day (hopefully with my pension starting) being in great health with lots of money, and saying "so long suckas...."

tipster350

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Re: Membership in the seven figures club feels so good
« Reply #6 on: September 22, 2018, 01:17:54 PM »
Does it feel as good as membership in the Mile High Club? Sadly, I will probably never know. But I am feeling miles high right now!

Back in the late Spring I stopped tracking my investments.  According to my estimates, I wouldn't hit the milestone until early next year. Most of my saving takes place in Q1. There were a lot of big and unexpected expenses this Summer so I just kept my head down and lived life.

This morning I decided to take a peek at how things were going. I was astonished to see seven figures in the total. Holy crapballs a million is a lot of money. It is and it isn't. It is ..it isn't. Well it has taken me a long time, with lots of twists and turns and mistakes, and I am in my late fifties so am hardly a wunderkind as many of you are. But for me, this is darn sweet. I'm sort of FI, not yet able to support my current lifestyle, but could sell the house and manage to survive as long as some form of the ACA is available. It is a huge relief.

I have to share it with someone so thank you for reading. I can't tell anyone in RL about my accomplishment.
As someone who just turned 56, like you I had lots of twists over time, started fresh at 36 with $0 but no debt (but plenty of determination) and when I add up everything today I am near you at just over $950k (plus a paid house and a nice pension awaiting me @ 60).  Still hard to wrap my head around the fact if I left my good paying job I would survive just fine.  Thankfully I don't need the ACA - I can marry my GF and get federal employee health benefits at a decent rate. 

I think at this point you need to work on making sure your health is top rate.  I workout daily at the gym in my office building, and every year my physical shows I am doing great.   I plan on walking out one day (hopefully with my pension starting) being in great health with lots of money, and saying "so long suckas...."

That is timely advice.

My house isn't paid off and I will have a small pension ($900/month starting at age 65) with no COLA. But I could, as one mentioned above, move to a LCOL area and survive just fine at this point. The relief I feel is enormous.  I will be focusing on my health in a big way from here forward.

shuffler

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Re: Membership in the seven figures club feels so good
« Reply #7 on: September 22, 2018, 01:23:29 PM »
It’s great! Congratulations. Me, I am bummed when I’m below 5M. I was at 5.2 at the start of the year, but then talks of tariff wars brought me down to 4.7.  Back up to 5 again. I tell my wife, I don’t feel comfortable below that. Above it, I can eat steak. Or rather serve brisket to guests instead of pulled pork.


https://www.realsimple.com/work-life/technology/communication-etiquette/humblebrag
What do you imagine your first post was?
Pot, meet kettle.

tipster350

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Re: Membership in the seven figures club feels so good
« Reply #8 on: September 22, 2018, 01:27:05 PM »
I'm confused, shuffler. Are you saying I am the pot calling the kettle black? If so I am not following your line of thought at all. 

shuffler

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Re: Membership in the seven figures club feels so good
« Reply #9 on: September 22, 2018, 02:59:15 PM »
I'm confused, shuffler. Are you saying I am the pot calling the kettle black? If so I am not following your line of thought at all.
Yes.

You said:  It feels good to have $1MM.
He said:  It feels good to have $5MM.

Same thing.

I just find it ironic that you'd access him of humble-bragging, when you started the thread to brag about the size of your own stash.

undercover

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Re: Membership in the seven figures club feels so good
« Reply #10 on: September 22, 2018, 04:58:56 PM »
It’s great! Congratulations. Me, I am bummed when I’m below 5M. I was at 5.2 at the start of the year, but then talks of tariff wars brought me down to 4.7.  Back up to 5 again. I tell my wife, I don’t feel comfortable below that. Above it, I can eat steak. Or rather serve brisket to guests instead of pulled pork.

OMG, you’re so badass. If you’re that risk adverse you should probably build a bomb shelter somewhere in Nevada.

PhrugalPhan

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Re: Membership in the seven figures club feels so good
« Reply #11 on: September 22, 2018, 05:08:49 PM »
I'm confused, shuffler. Are you saying I am the pot calling the kettle black? If so I am not following your line of thought at all.
Yes.

You said:  It feels good to have $1MM.
He said:  It feels good to have $5MM.

Same thing.

I just find it ironic that you'd access him of humble-bragging, when you started the thread to brag about the size of your own stash.
  • Crossing $1 Mil at 35 (maybe even 45) on this site may be a humble brag.
  • Crossing $1 Mil at late 50s is barely a humble brag where its generally thought to take 4% out of your investment and most people want to have at least $40k per year (though it should have been in the Share your Badassity sub-forum)
  • Crossing $5 Mil (at unknown age) on this site allowing you to live $200k/year at 4% withdrawls is a humble brag.

The two really aren't comparable.  For it not to be a humble brag, it needs to be on Boggleheads (not complaining - I like that site too).

CoffeeAndDonuts

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Re: Membership in the seven figures club feels so good
« Reply #12 on: September 23, 2018, 02:12:26 AM »
This morning I decided to take a peek at how things were going. I was astonished to see seven figures in the total.

...

I have to share it with someone so thank you for reading. I can't tell anyone in RL about my accomplishment.

$990k, $1.01m... no real difference but what a difference!

Congrats!

libertarian4321

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Re: Membership in the seven figures club feels so good
« Reply #13 on: September 23, 2018, 02:28:59 AM »
It’s great! Congratulations. Me, I am bummed when I’m below 5M. I was at 5.2 at the start of the year, but then talks of tariff wars brought me down to 4.7.  Back up to 5 again. I tell my wife, I don’t feel comfortable below that. Above it, I can eat steak. Or rather serve brisket to guests instead of pulled pork.

You sound like my wife.  Always worried that we don't have enough.  Even though she knows that $5M+ is more than enough to retire on, give generously to charity, and not worry at all.

Relax.  Have a steak.  And a beer.  Maybe even something better than a Bud.

Walterbl

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Re: Membership in the seven figures club feels so good
« Reply #14 on: September 23, 2018, 09:54:40 AM »
Oh man, congratulations, I can't wait to be able to say the same. I'm hoping to do it before I hit 40 (officially old IMO :P)

Norrie

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Re: Membership in the seven figures club feels so good
« Reply #15 on: September 23, 2018, 11:58:13 AM »
Congratulations! That’s got to feel fantastic. Enjoy your moment.

Huffduf41

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Re: Membership in the seven figures club feels so good
« Reply #16 on: September 23, 2018, 03:59:12 PM »
Definitely a game changer.  A really really awesome game changer...keeps me from getting wound up about damn near anything.


Bateaux

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Re: Membership in the seven figures club feels so good
« Reply #17 on: September 23, 2018, 09:04:59 PM »
The first million makes the second million pretty easy.  Even if you don't want to spend it, it's neat to look at.

Eco_eco

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Re: Membership in the seven figures club feels so good
« Reply #18 on: September 26, 2018, 11:53:47 AM »
Congratulations. The money you’ve earned and saved means that’s your now financially secure. If you had to you could sell up and live off your stash for the rest of your life. You’ve also created a perpetual money machine - this is a great achievement that few people get to.

You are also now offically ‘coast fi’ where, if you did nothing else you could coast along to retirement with your current savings. I think too often we set the goalpost at retirement and don’t stop to enjoy the life changing steps along the way. For me it was a big deal to realise we had enough capital that we could never work again if we had to. Work became a lot more fun when I realised we were saving now for luxuries vs essentials.

PiobStache

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Re: Membership in the seven figures club feels so good
« Reply #19 on: September 26, 2018, 01:32:27 PM »
Congrats on all the hard work paying off.

zolotiyeruki

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Re: Membership in the seven figures club feels so good
« Reply #20 on: September 27, 2018, 09:29:13 PM »
Quote
Work became a lot more fun when I realised we were saving now for luxuries vs essentials.
i really like how you put that, and i can see myself doing the same one I hit my milestone.