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Old 10-30-2013, 08:53 PM   #21
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Getting from 100K to 200K seems to take the longest (it just drags on), but then the next 100K's get going a bit quicker. Once you a 1M, the 100Ks seem effortless. . .
Particularly in years like this year--so far, at least. (knocks on wood)
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Old 10-30-2013, 09:18 PM   #22
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The road to wherever we are now looked like that:



So we have definitely seen an acceleration, despite the little "snag" of 2008.
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Old 10-30-2013, 09:24 PM   #23
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Hi, I recently hit a milestone of $500k. Pretty happy about that. I feel that I've hit this milestone much earlier than I expected... thanks to this bull market. From 500k to 1M, did you get there much earlier than you expected? Were you surprised by how fast you got there? Or was it the other way around? I'm projecting to hit 1M when I'm 40 but hope this trend continues and get there earlier, hehe. Thanks
As they say the first million is the hardest - actually I found it very very hard, and a long process. From 500K to 1M is much much faster and easier. My pace to 500K was slower than yours. What I did not like was all that going back and forth across the round number marks. As wealth grows I noticed that the threshold amount for keeping track of saving and spending increases. I know several multi billionaires, and I often wondered how much money gives them pause before spending. For me 1K is a big purchase and I give due pause and consideration. I suspect it must be 1M+ for them. What they keep track of now is their rank on Forbes 500 global rich. So far they made it the first half of that short list. A long life has helps their compounding wealth rewards. I don't expect to be in their will, never got a windfall and probably never will. Building wealth alone has it's own satisfaction without the guilt that can often come from wealth by windfall. Congratulation on your achievement!!!!
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Old 10-30-2013, 09:59 PM   #24
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I started the year just shy of $500K and I'm at $670 now - age 46. I can hardly believe it! 80% small and mid cap index in my 401K and one stock in my taxable acct. with a 54% gain this year. I'm about 8% cash and treasury bonds.
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Old 10-30-2013, 10:19 PM   #25
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The road to wherever we are now looked like that:



So we have definitely seen an acceleration, despite the little "snag" of 2008.
Obviously, you are not an index investor, or rather definitely not a S&P500 index investor.

I do not know of any index that has your performance other than a biotech index.
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Old 10-30-2013, 10:44 PM   #26
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Hit 500k in 2011, after being an idiot for a while and getting a late start on saving, then taking a bath in 08. Hit 1M this year at 37, a few years ago the goal was to hit that at 40, so I have revised that number up now. Hopefully I hit the end goal several years early as well.
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Old 10-30-2013, 11:05 PM   #27
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Obviously, you are not an index investor, or rather definitely not a S&P500 index investor.

I do not know of any index that has your performance other than a biotech index.
Well no, I am not a zealous index investor, that's true. And in fact, quite a bit of our net worth has been tied to the biotech sector for over a decade, in the form of employer's company stock. But this graph is not a performance chart. It simply represents the evolution of our taxable and tax-deferred account balances, including contributions. I excluded things like company stock and inheritances from this graph because they create too much distortion. So the relative over-performance of our biotech stock is not even factored here. This is what we built by saving a large portion our paychecks over 13 years and by investing the excess funds in a broadly diversified portfolio. We kept our expenses fairly steady over the years while our income increased steadily. So we saved more and more each year and, with the magic of compounding, we observed this acceleration.
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Old 10-31-2013, 08:14 AM   #28
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Well, I was just thinking that if my portfolio could grow like that, I would be sitting in 1st class section for travel for the rest of my life. It is about the only thing that I would do differently with money. Oh, and I might get an expensive Audi, just to see for once what it was all about. My son bought an S4, so I should get an A8 to see what more they have to offer.

100% in biotech then. Onward we go! No guts no glory.
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Old 10-31-2013, 09:05 AM   #29
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I am amazed by so many reaching 500K at such early ages. I have to tip my hat to you. It's got me thinking what did I do wrong. It took me into my fifties to reach that. But I've always been a fearful investor and that is something that I regret.
I was thinking the same thing. We didn't hit 500k until this year, age 51, and that 500k is the sum of my 401k and my wife's! I blame daycare costs and private elementary school tuition. Now that my kids are in public high school, we're catching up!
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Old 10-31-2013, 11:48 AM   #30
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Thanks all for the responses. Seems the next 500k might be a little earlier than my original prediction. I'm planning to use this money when I'm 60 so these milestones really doesn't matter now but still it'll be good to see the 1M mark.
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Old 10-31-2013, 12:37 PM   #31
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In our taxable brokerage account we hit 500k for the first time Oct 2010. Seen 1M for the first time Aug 2012. I was quite pleased with that progress.
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Old 10-31-2013, 02:00 PM   #32
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Started investing in 1996 and reached 500K mark in early 2008..hit the 1M mark early this year (2013) ...currently at 1.1M (as of Oct 30,2013). never sold a share during the internet bubble and the housing crisis. Rode the wave and it has been a good ride the last few years..if this continues, I'll retire at 60 instead of 62. I'm 58 yrs old this year...

Note that as my salary grew, so is the amount invested..
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Old 10-31-2013, 02:24 PM   #33
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I am not sure when I hit 500K it was young. But I do remember the first year the gain on my investment topped my salary. It was 1991 the S&P was up 26% and the NASDAQ and my portfolio were up even more. It wasn't my favorite year at work,and realize that it was ok to devote more time to my investments rather than working super hard a work trying to get the extra 2% raise.
Intel stock options certainly help.........
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Old 10-31-2013, 02:25 PM   #34
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Hey, stock options are supposedly an incentive for employees to work harder, not the other way around.
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Old 10-31-2013, 06:12 PM   #35
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When we started megacorp they gave us 20,000 stock options and showed us a chart that said we would be multi-millionaires in a few years. Didn't work out that way.
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Old 10-31-2013, 06:37 PM   #36
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It took me 8 years of work to get from zero to about 100k, and then 3 years to get back down to zero. At that point, I was 34 years old. So you're substantially ahead of where I was at your age.

Take heart. You'll eventually get where you want to be.
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Old 10-31-2013, 07:11 PM   #37
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Picked up speed in later years due to inheritance, better job with bonuses, paid off house and cars, and reduced expenses. Started at nothing in 1980, now $2.2M including paid off home of $300K.
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Old 11-01-2013, 08:44 PM   #38
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When I was 36 years old and getting pushed out of my 2nd company in 5 years, I decided I had to insulate myself against the uncertainties of modern corporate America. Someone suggested I read Millionaire Next Door. I devoured that book, and from that point on I committed myself to saving $1,000,000 in investable assets by the time I turned 45.

I was fortunate to land another job that paid pretty well, and I created a spreadsheet budget projecting my income and all of my spending across more than a dozen categories for every year over the next ten years. I budgeted to the month to the dollar. That was almost 14 years ago and I have been updating that spreadsheet ever since.

With my head down I committed myself to my new company, which was not easy because my job required 70 hour weeks and a ton of BS, and that, combined with my extreme spending discipline, led to my crossing the $1 million threshold at age 43.

My next goal was to achieve overall financial independence. Using the same methods, i reached critical mass at age 47. It was at about that same time that my company gave me my walking papers, so I decided to just go ahead and retire. That was 2 years ago and, thanks to a nice run up in the market and continued LBYM lifestyle, I am in a better financial position than ever.

$1 million does not buy what it once did, but setting that specific $1 million goal and making a specific, actionable plan years ago was pivotal in my achieving FIRE.
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Old 11-01-2013, 09:50 PM   #39
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Hey, stock options are supposedly an incentive for employees to work harder, not the other way around.
Only for the first four years, when most peoples' initial grants stop vesting. After that, the Golden Handcuffs usually fall off, and even if the company is successful, out the door they go. At least, that's my plan.
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Old 11-01-2013, 10:41 PM   #40
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Just curious.. When you all talk about NW do you typically include equity in your primary residence, or is it just invested amount? Equity could be a squishy thing if LTV is high like 80 or 90%, but when the house is almost paid up or even more than half paid up, can you still ignore it completely?
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