Introducing myself

[readytofire]

Thank you both for the feedback.

@Terryjm51 no doubt that the car lease is a drag on my finances, but it is one I am willing to keep. I like to balance savings/future with living in the present (a bit) to keep it fun along the way.

@molof I looked into the after tax 401k but unfortunately my employer does not offer it right now. I will keep pestering them about it until they change their minds

[readytofire]

Quick update here, I was surprised to see it's been 5 years!



Taxable investment account (ETFs) : 900K
401k + IRAs: 250K
Private investments: 1.6M
Cash: 100k



Still truckin'


I hope everyone is staying safe.

[SALTedOut]

does your work allow a ROTH 401K? If so you are in a relatively low tax bracket right now. I'd consider funding a ROTH 401K instead of traditional 401K.

EDIT: I didn't notice that this was an old post but I'd still consider a ROTH 401k.

[readytofire]

Unfortunately my work doesn't offer a roth 401k. I do backdoor roths now, my income is approx $250k/year now. Thanks for chiming in!

[readytofire]

Hello friends, I am excited to update everyone and acknowledge that I have "made it" early, and I am effectively retiring early in May of this year! I put in my notice with my employer, and things are actually happening!



Asset breakdown:
~430K in 401K/Roth IRA
~1.6M in ETFs (taxable acct)

~650K cash to be invested in ETFs (I'm DCA over the next few months)
~1.5M in private passive income investments
~850K in private equity/startups
~2.3M in crypto



I am generally planning to live off of my passive income investments and let everything else grow. I also have a little over 1M cash to buy a house in the next few months, so I'll pay in full and not have a mortgage. Getting to this point has been a mix of good luck and a sh*tton of hard w*rk. I really appreciate this forum, the knowledgeable contributors, and the people who evangelize FIRE along the way. I also have 3 years of expenses in cash, to hedge against sequence of returns risk, as well as a ~200K of stock options vesting shortly that I am not counting.



I made it. I f*cking made it! I can't wait to unwind and de-stress in just a month's time.



Life is short, but I'm glad my career was even shorter. Here's to a fruitful retirement!

[street]

Looks like you got it stacked pretty high with ~7.4M. Congratulations on making it!

[readytofire]

thank you!

[powerplay]

Well done! Enjoy your retirement and relax.

[latexman]

2013 $0.4M
2015 $0.6M
2020 $2.8M
2022 $7.4M*

$0.4M to $7.4M* in < 9 years on $0.1M/year starting salary.

* Plus "I also have a little over 1M cash to buy a house", "I also have 3 years of expenses in cash", and " ~200K of stock options vesting shortly that I am not counting". Say, another $1.4M!

Wow, just wow!

[finnski1]

Quote:

Originally Posted by latexman 2013 $0.4M 2015 $0.6M 2020 $2.8M 2022 $7.4M* $0.4M to $7.4M* in < 9 years on $0.1M/year starting salary. * Plus "I also have a little over 1M cash to buy a house", "I also have 3 years of expenses in cash", and " ~200K of stock options vesting shortly that I am not counting". Say, another $1.4M! Wow, just wow!

Exactly! And he is still only approx 38 YO.
Very well done.

[CO-guy]

Awesome! Congrats!

[Montecfo]

well done, readytofire!

On the investing side what was the key or keys to your success?

[marko]

Quote:

Originally Posted by latexman 2013 $0.4M 2015 $0.6M 2020 $2.8M 2022 $7.4M* Wow, just wow!

I would find such a trend addictive. "next two years: $11M, the next two: $15M...". I'd never RE!

[Youngblood]

Readytofire just crushed it! I'm super happy for you. Time to enjoy the fruits of your labor!

[pacergal]

congratulations, well done.

[NgineER]

Well done! Congratulations!

[readytofire]

thank you everyone! My income did increase significantly over the years, and I made some lucky private equity investments that paid off and padded my numbers quite a bit.

[Ronstar]

Congrats - You made it! and then some. You mention that some "lucky" investments helped you get there. You may want to consider going to a more conservative investment strategy in retirement.

[Letj]

Quote:

Originally Posted by marko I would find such a trend addictive. "next two years: $11M, the next two: $15M...". I'd never RE!

Wow. People are so fundamentally different. It’s really amazes me. I, on the other hand, have no desire to keep making money. My life style doesn’t need anymore more money and I can’t spend it. I have enough to sustain me for the rest of my life and the subsequent generation if they’re smart with their money. Sometimes I wonder why I worked this long. Once you get to a critical mass, the money just keeps multiplying anyway.

[marko]

Quote:

Originally Posted by Letj Wow. People are so fundamentally different. It’s really amazes me. I, on the other hand, have no desire to keep making money. My life style doesn’t need anymore more money and I can’t spend it. I have enough to sustain me for the rest of my life and the subsequent generation if they’re smart with their money. Sometimes I wonder why I worked this long. Once you get to a critical mass, the money just keeps multiplying anyway.

They once asked Rockefeller "How much money is enough?" He replied "Just a little bit more."

My comment was more about the addictiveness of seeing a small amount of money grow impressively. Doesn't everyone get a thrill to see that your portfolio is larger than it was last year or the year before?