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Old 04-13-2010, 08:46 AM   #21
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i don't own stock in the co i work for (but likely will inherit at least half of it unless i bail out soon). my spread sheet shows expenses of $80k after taxes to survive the way i want to. (lets just say that that will be a substantial pay cut from what i earn today ) i think i have income streams set up to bring in about 75% of that amount now, but want a solid safety factor in place before i pull the plug.
As part of your safety factor, you need to know that your expenses will rise more quickly (especially HI) than your income will (especially before SS and a pension kick in). In my spreadsheet, I needed to have a considerable surplus in my early years of ER because they will likely become deficits later (at least 10 years later). I do factor in a small income increase prior to SS and pension because I can reinvest those surpluses but that only slows the slide towards deficits. These deficits do not include IRA withdrawals, only from taxable (NRI) accounts.

Just some more food for thought.
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Old 04-14-2010, 09:25 PM   #22
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Wow, Westernskies, I thought I paid a lot in income taxes in 2008 when I paid about $74k, mostly as a result of selling my company stock. I thought I was going to have to pay a greater tax penalty (about $28k more) for doing that until I learned otherwise.

And with the big increase in the stock market and S&P 500 this week, I figured out that I am now only about $435 away from the $1M mark. It is likely that I will go over $1M and under $1M a lot in the next few weeks as I pay some big bills in the next few weeks. Makes for pleasant but bumpy ride LOL!

Scrabbler, congrats on your financial milestone- didn't intend to hijack your thread. Our big tax bill was the result of DW and I both having good years at w*rk (usually seems like one is up when the other is down) and selling a piece of property on contract- capital gains on the the sale pushed us over 100K...the perfect financial storm.
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Old 04-16-2010, 07:53 PM   #23
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Congratulations on accomplishing a very significant milestone.

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@ESRwannabe - When my portfolio was about $175k, I was 33 years old, too. This was in the mid-1990s when the stock market was booming. I was working full-time and was increasing the stock portion of my overall holdings. Between that and my company's ESOP taking off, I was averaging about $50k increase per year in those great years.
If you don't mind me asking, how much did you invest in your retirement accounts each year (on average) to get from 175k at 33 to almost 1 mil by your retirement at 45? Again, great job!
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Old 04-17-2010, 01:53 AM   #24
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Congratulations on accomplishing a very significant milestone.



If you don't mind me asking, how much did you invest in your retirement accounts each year (on average) to get from 175k at 33 to almost 1 mil by your retirement at 45? Again, great job!
Thank you.

It is kinda tough to answer your question because the money came from several sources.

(1) My own pre-tax contributions into my 401(k).

(2) Company match dollars into my 401(k).

(3) After-tax contributions into my 401(k).

(4) Earnings on (1), (2), and (3).

(5) ESOP distributions (company stock).

(6) ESOP gains in value (Net Unrealized Appreciation, or NUA).

(7) Non-retirement (taxable) account contributions.

(8) Non-retirement (taxable) account earnings.


It is tough to quantify some of these items (mainly because there is intermingling and internal transfers), but I can tell you that Item (6) was the largest at $279k.
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Old 04-23-2010, 09:46 AM   #25
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Not trying to hijack, just piggyback on your theme. DW and I updated Quicken this morning and hit the 1M mark. I know it's just a number and I don't really feel any different, but it's a nice finally see a 7 figure number on my net worth.
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Old 04-24-2010, 12:02 AM   #26
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That's okay, ikubak. I am glad to see someone else got to $1M this month as well, due to the rising stock market (I presume?).

Even with most of the $2k in bills I paid in the last 7 days I am still over $1M so no over-and-under $1M ride going on.
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Old 05-07-2010, 08:16 AM   #27
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The milestone dropped and smashed my big toe. OUCH! No more $1M in investments any more. Down to about $980k now but to quote a famous movie line, "I'll be baaack!"
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Old 05-07-2010, 09:27 AM   #28
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Scrabbler, I know what you mean. In my last post, I said that I was waiting for the shoe to drop. In the meantime I hit $1M four seperate times in two weeks. Well yesterday the shoe dropped and who knows when it will hit bottom.

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Old 09-17-2010, 05:01 PM   #29
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After slipping below $1M back in May, I have been coming dangerously close to the coveted milestone once again. I am at about $998.3k.

Any of you who were close to $1M back in May getting near the $1M mark again?
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Old 09-18-2010, 08:05 PM   #30
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Nice work, hope to be there in my early 40's. Right now approaching 300K and should be there at end of year. I set quarterly, yearly and 5 year portfolio goals. The nice thing is that as your NW increases, these milestones become easier. Just think how long it took you to save your first 100K versus the second 100K, etc.
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Old 09-19-2010, 11:33 AM   #31
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Nice work, hope to be there in my early 40's. Right now approaching 300K and should be there at end of year. I set quarterly, yearly and 5 year portfolio goals. The nice thing is that as your NW increases, these milestones become easier. Just think how long it took you to save your first 100K versus the second 100K, etc.
Yes, it did not take long to add the second, third, fourth, etc. $100k after it took 12 years to get the first $100k. The booming stock market in the late 1990s followed by the exploding value of my company's stock in the 2000s increased my total NW by $100k every 2 years or less. In fact, it was increasing by $100k in less than 12 months for a few years in 2004-2006 and I was working only 20 hours a week in those years.

Getting to and staying about $1M has proven to be difficult in the last few years but part of that is due to my not working the last 2 years.

I hope you can get to you $300k goal soon and advance beyond that.
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Old 09-20-2010, 11:05 AM   #32
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Back before the crash (in 2007 I think) I was flirting with $200K in my TSP. Now I'm at 199.2K so I may hit $200K at market close.

Not close to $1Mil tho.
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Old 09-20-2010, 12:34 PM   #33
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Get to a million. and go to cash!!
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Old 09-20-2010, 12:59 PM   #34
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Help me out, send check for $800K ASAP!
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Old 09-20-2010, 05:37 PM   #35
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Back before the crash (in 2007 I think) I was flirting with $200K in my TSP. Now I'm at 199.2K so I may hit $200K at market close.

Not close to $1Mil tho.
I am back over $1M, thanks to today's big day at the stock market. I am at $1.005M, about where I was back in early May.

Are you over $200k now?
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Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

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Old 09-21-2010, 11:35 AM   #36
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Yeah, $202K. I used to think that was a lot of money. Seems the older I get, the more my idea of "a lot" changes.

I do have a couple COLA'd pensions tho, so I'm sure they are worth some $.
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Old 09-22-2010, 12:45 AM   #37
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Hmmm, good week on the markets!

Looks like my investable securities topped $2m this week. That excludes real estate, venture capital and pension account.

Finally, some progress! Now let's hope we can hold the gains.....
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Old 08-19-2011, 05:03 PM   #38
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Egads, after the last few bad weeks in the stock and bond markets, I am fast approaching this milestone again.......but from the other direction! I am down to $1.001M so one more bad day and I will fall below that coveted amount.

I will also be using up some of my small, accumulated surpluses from my investments to pay some 3rd quarter estimated taxes in September, so that alone could eventually drop me below $1M even if the markets don't change much next month.
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Old 08-20-2011, 12:36 PM   #39
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scrabbler1,
Be patient - soon you will be approaching the $2M mark.
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Old 08-22-2011, 09:20 AM   #40
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scrabbler1,
Be patient - soon you will be approaching the $2M mark.
From your mouth to the "gods" ears.....
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