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Old 01-26-2011, 08:30 PM   #21
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Congratulations.

Milestones are nice reminders of the progress you are making towards your financial goals. However you measure it, USD1 million is a significant achievement.
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Old 01-26-2011, 08:39 PM   #22
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Congratulations wishing4it.
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Old 01-26-2011, 08:53 PM   #23
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Congratulations on the milestone! You didn't get there by mistake. You are doing something right so just enjoy it and keep doing what you're doing. If you're like others, you might hit that same milestone two or three times before it sticks. Congratulations again.
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Old 01-27-2011, 06:59 AM   #24
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Thanks everyone! Sorry for the delayed response but I had to go to w*rk!?#@!

I read that there are different ways to calculate net worth and actually, in our case, I did include the equity in our home as well as all our investments, the equity is a pretty small part of it though. If I didn't count it, we would hit the milestone later this year anyway. It just feels so good I couldn't wait!

Originally, back in early 2008, our plan was to retire at 59 1/2 (2013). Of course, we all know what happened then, but we've regained most of our losses (much more careful now with AA) and would probably have stayed the course except that my DH lost his job 18 months ago. He has had a terrible time finding something in his field, so we recently decided to move our plans up. I volunteered for an upcoming lay-off at my place of w*rk which is why I don't know an exact date yet.

Our plan is to sell the house this Spring and become full time RVers for 2-3 years (with plans to travel the US and Canada) using other funds, mostly the severance payout and bonus, that were not included in our net worth. Our expenses will be alittle more than 1/2 of what they are now. If all goes well, we shouldn't have to touch most of the nest egg until we settle down again. We have an acre of land in the Texas Hill Country that we plan to build on when the time comes...unless of course we find some place else we like better when traveling! Then, with SS, the nest egg, and a couple of small pensions, we'll be able to cover all our future expenses.

One of the best things about our decision to go full timing is freeing ourselves of "material things" that we have hung on to for years. It's hard to believe we boxed up and stored so much stuff we will never use again - not to mention storing other people's stuff!

Dessert... I wish I count do a count down like you are! I just don't know exactly when, but it looks like my retirement will be about the same time as yours.
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Old 01-27-2011, 10:17 AM   #25
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Amid the well-deserved congratulations, a couple of thoughts:

You are now in the company of 24.2 million other millionaires (reckoned by total net worth) according to Credit Suisse, which is roughly 0.5% of the world's adult population.

There are other ways of measuring who is a millionaire, such as the Capgemini/Merrill Lynch definition of $1 million or more in investable assets. There are only about 10 million folks in that group.

With luck, you'll find new thrills in reaching this and other milestones. Enjoy them to the max!
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Old 01-27-2011, 10:27 AM   #26
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Yes now you are one of the idle rich. Enjoy
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Well done!
Old 01-27-2011, 11:03 AM   #27
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Well done!

Well done! I too met that milestone a few months ago. I still have 10 years before I retire. I hope to double it by then!
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Old 01-27-2011, 11:13 AM   #28
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Congrats wishing4it! That's quite an accomplishment. $1M may not be what it used to be but still few people can manage to reach that milestone.
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Old 01-27-2011, 11:37 AM   #29
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Wishing4it, we are in a simular situation as you are financially as I was laid off in July 2010. I still earn commissions from my customers and my DW still works. We are at the point where we could retire completely, but we want to wait until 59.5 in about 3 years. I only work about 4-5 hours a week, so I am basically retired.
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