eight figure club

[hesperus]

I know it won't last with the market at highs like this, but total net worth just touched eight figures. The final push was certainly helped by our real estate (couple of homes and land), that have done remarkably well here in colorado the last few years. A bad day in the market and we're below again, but for us it was a milestone we had been trying to reach for a couple of years. We have been living below our means, and the extra saving/investing has paid off. Yes, it's just a number but nonetheless enjoying the moment

 

[CaliKid]

It's a great accomplishment for sure. The key, and it sounds like you know it, is living below your means. It doesn't matter how many figures you have if you live above your means. Keep up the good work!

 

[Another Reader]

My goal is to get there by 70. It's probably an unrealistic stretch goal, unless there is another crash where I can buy a lot of cheap assets for cash and then get a quick rebound.

 

[Meadbh]

Congratulations!
......from one who will never achieve that.

 

[hesperus]

now that that's out there, you could guess that I'm probably inviting a market crash

 

[Luck_Club]

Nice number to hit! Congratulation!

 

[audreyh1]

Wow!

Although that sure sounded like a whee.....

 

[Luck_Club]

now that that's out there, you could guess that I'm probably inviting a market crash

The trick is to turn it into a 5% or better cash flow.

 

[Big_Hitter]

congrats solid!

 

[hesperus]

Wow!

Although that sure sounded like a whee.....

That crossed my mind as I typed

 

[flyingaway]

I calculated, if I work until 60 and keep my withdraw at 4% constant, I will be in the 8 figure club when I dies at 100. Maybe I should reserve two seats for my sons.

 

[gayl]

Congratulations from a poster stuck in the 7s

 

[NW-Bound]

The trick is to turn it into a 5% or better cash flow.

I will never get there, but at $10M, I would be OK with 3% WR. At $300K/year, life is quite comfy, even if it is not enough for a private jet.

It would be a bit less with that $10M including RE, and then there's tax, but I would try to manage.

 

[97guns]

I don't think I'll ever get there, I'm contempt being a member of the 7 figure club, I think it's more figures than I'll ever need

 

[Blue Collar Guy]

Wow, I would say you are solidly in the top 1% (in the USA). Im solidly in the mid 7 figures, and I feel like Rockefeller. 8 figures would be obscene. But, I like that kind of obscene. Enjoy!

 

[FIREd]

Congratulations!

Our decision to ER probably cost us access to the 8-figure club (we might still make it according to FIREcalc, but it seems unlikely based on today's valuations). We were on track to get there sometime before full retirement age. But then we live pretty simple lives and we have no children. So it felt like an unnecessarily lofty goal and we pulled the plug early.

 

[Blue Collar Guy]

Congratulations!

Our decision to ER probably cost us access to the 8-figure club (we might still make it according to FIREcalc, but it seems unlikely based on today's valuations). We were on track to get there sometime before full retirement age. But then we live pretty simple lives and we have no children. So it felt like an unnecessarily lofty goal and we pulled the plug early.

+1, With no children and if firecalc says Im good with a 3 % withdrawal for all my needs, anything above that is wasted excess.

 

[Sojourner]

I know it won't last with the market at highs like this, but total net worth just touched eight figures.

Congrats on achieving a very cool milestone. Eight figures is something I'm hoping to reach one day, just for the psychological "wow" factor. FIRECalc says I have a decent shot at it in about 15 years. Will be a fun thing to celebrate if and when it happens.

 

[NW-Bound]

+1, With no children and if firecalc says Im good with a 3 % withdrawal for all my needs, anything above that is wasted excess.

Excess is in the eye of the beholder. Is a Louis XIII bottle wasted excess, or does one need to go to the level of 1 bottle/month?

Signed someone who has not bought even one.

 

[gerntz]

I'm eight figures too, but two of them are after the decimal point.

 

[RobbieB]

Good for you!

Have fun and blow some of that dough -

 

[Texas Proud]

I will never hit the club unless I happen to win a big lottery and I will go past to the 9 digit club...

I think the odds are I will be hit by lightning while I hit a hole in one.... and since I have not golfed in years that is going to be hard.... OH, and only 1 (yes ONE) birdie in my life...

But congrats to the people that have achieved it...

 

[RobbieB]

I'll never be there either.

But if I was I'd buy that million dollar house and the Maserati -

 

[Johanson]

I'm eight figures too, but two of them are after the decimal point.

I was going to say the same thing.

 

[Breedlove]

Ahhhhhhhhh, heck that is just chump change ....Congrats I am not there . Could you loan me about 2M