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eight figure club
Old 09-11-2017, 09:37 AM   #1
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eight figure club

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
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Old 09-11-2017, 09:42 AM   #2
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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!
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Old 09-11-2017, 09:42 AM   #3
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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.
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Old 09-11-2017, 09:43 AM   #4
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Congratulations!
......from one who will never achieve that.
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Old 09-11-2017, 09:46 AM   #5
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now that that's out there, you could guess that I'm probably inviting a market crash
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Old 09-11-2017, 09:48 AM   #6
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Nice number to hit! Congratulation!
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Old 09-11-2017, 09:49 AM   #7
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Wow!

Although that sure sounded like a whee.....
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Old 09-11-2017, 09:49 AM   #8
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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.
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Old 09-11-2017, 10:02 AM   #9
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congrats solid!
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Old 09-11-2017, 10:09 AM   #10
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Wow!

Although that sure sounded like a whee.....
That crossed my mind as I typed
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Old 09-11-2017, 10:25 AM   #11
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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.
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Old 09-11-2017, 10:27 AM   #12
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Congratulations from a poster stuck in the 7s
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Old 09-11-2017, 10:31 AM   #13
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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.
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Old 09-11-2017, 10:45 AM   #14
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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
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Old 09-11-2017, 10:47 AM   #15
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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!
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Old 09-11-2017, 10:48 AM   #16
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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.
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Old 09-11-2017, 10:52 AM   #17
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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.
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Old 09-11-2017, 11:02 AM   #18
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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.
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Old 09-11-2017, 11:06 AM   #19
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+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.
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Old 09-11-2017, 11:24 AM   #20
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I'm eight figures too, but two of them are after the decimal point.
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