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Old 03-28-2015, 09:10 AM   #21
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I do not remember the year that we reached a million in net worth.
Did not seem like such a big deal, as I knew we would need more.
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Old 03-28-2015, 02:05 PM   #22
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He also has no kids (a good choice) but wasn't clear if he intended to remain that way permanently.


I nearly hit $1M in 2007 but then the markets began tumbling so it took me another 3 years to recoup the losses (in those 3 years I ERed so it wasn't all bad LOL!).
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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 03-28-2015, 03:12 PM   #23
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If this supposed millionaire gave the specifics of his investments his story might be more believable.
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Old 03-28-2015, 03:36 PM   #24
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He did, low cost index funds. He really got better than average returns! Maybe if he published real data that was fact checked he wouldn't have an article like that to write?

Edit to add: I take articles like this to be like H.G. Wells. You can say our write almost anything today and get a bunch of exposure. Is it real or fiction?
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Old 03-28-2015, 04:10 PM   #25
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Sorry to burst your skeptical bubbles, but we had a savings rate of $10k+ / month, for many years.

This is very doable if you have a good job, large savings rate for many years...and ...the returns of the past 5 years.

This allowed us to do just what he's talking about at ages 41 & 47 and living below 1% SWR here in Mexico on our savings and a little online w*rk, 20 hrs / month. Starting on our 4th year down here.
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Old 03-28-2015, 05:25 PM   #26
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Sorry to burst your skeptical bubbles, but we had a savings rate of $10k+ / month, for many years.
Whose bubble are you bursting? I didn't see anyone claiming it was impossible to increase wealth at that rate with a very high savings rate, I just saw some skepticism about the numbers in this particular blog.

This dude has a graph showing the delta between (assuming gross) income and expenses, he was never earning anywhere close to $10k per month much less saving it.
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Old 03-28-2015, 05:36 PM   #27
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Quote:
Originally Posted by Surewhitey View Post
Sorry to burst your skeptical bubbles, but we had a savings rate of $10k+ / month, for many years.

This is very doable if you have a good job, large savings rate for many years...and ...the returns of the past 5 years.

This allowed us to do just what he's talking about at ages 41 & 47 and living below 1% SWR here in Mexico on our savings and a little online w*rk, 20 hrs / month. Starting on our 4th year down here.
Your math and story is very believable. His math and story, not so much.
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Old 03-28-2015, 09:26 PM   #28
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I didn't check the numbers or math, but it's generally believable. We went from investments of $240,000 on 3/31/2009 to $1.2 million on 3/31/2014. Almost $1 million growth in invested assets ($439k of the growth was investment contributions by us). That's on a salary that peaked at a combined $141k in 2013 (the year I FIREd) and paying for 3 kids (2 kids prior to 2012).

The $1 million mark was generally uneventful. I think DW and I smiled, had a beer or maybe cracked open a $4 bottle of champagne and watched a TV show after the kids went to bed. It's not like we were going to spend much of that $1 million in any given year (even after FIRE).
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Old 03-28-2015, 11:41 PM   #29
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Maybe he's leaving out some things like employer contributions?

He states he had 120k in 2009 and based on his income/expense chart only put in an additional 220k after that.

I don't see hitting 1M on that in index funds but I tend to be skeptical of all self reported numbers.




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