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Old 09-24-2019, 05:05 AM   #2021
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Aaaand I finally doubled up: 200k invested as of this morning!

OMG, I had started to think I would never get there. For several months, I came tantalizingly close, only to have the market pull back a little each time. Then my car needed some repairs... Last Friday, at the close, I was Ä6 short. I mean, I have more than that in my wallet, but that's not how I'm keeping score, and I wasn't going to start cheating now.

So this morning, when the stock exchange opened, I finally made it over Ä200,000 for the first time.

It took me almost 6 years to get to the first 100k, and 3.5 years for the second. The third should come in under 3 years, if the markets cooperate. Next stop: Quarter Millionaire!
Okay, that didn't take long. One year to the day actually! Aggressive saving, good market returns on both stocks and bonds in 2019, and a small inheritance not only got me to 250k, but I now have more than 300k invested.

03-20-2015: 100,000
09-24-2018: 200,000
09-24-2019: 300,000
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Old 09-24-2019, 08:31 AM   #2022
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A kind of surprising milestone: I'm up over $300k in net worth this calendar year. I've never broken $300k in any year. It's all putting us closer to the day... Which as it gets closer makes me worried about entirely new things, rather than work.
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Old 09-24-2019, 10:17 AM   #2023
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My 401K is at $275K, while I have no more mortgage, and very little debt. My milestone is getting my daughter married off next month, and my 20 year old son is out of trade school (UNOH Diesel Tech) and is actively looking for an apartment. You can't imagine the expenses we have incurred for getting our kids to this point this year.

Next year, I will be able to take my 401K back up to 25%, and our household expenses should be cut in half with 2 less kids living there, and no more weddings to pay for.
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Old 09-24-2019, 11:53 AM   #2024
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Okay, that didn't take long. One year to the day actually! Aggressive saving, good market returns on both stocks and bonds in 2019, and a small inheritance not only got me to 250k, but I now have more than 300k invested.

03-20-2015: 100,000
09-24-2018: 200,000
09-24-2019: 300,000

Congrats. Looks like you are on your way to reach the 1st million within 5 years.
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Old 09-25-2019, 01:28 AM   #2025
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Congrats. Looks like you are on your way to reach the 1st million within 5 years.
Thanks! More like 12 years, according to my calculations, but who's keeping score.

At least I dearly hope there will be no more inheritances in my near future.
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Old 09-26-2019, 01:17 PM   #2026
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I woke up this morning thinking, ok pretend you've hit the 1m mark… my immediate response was: a huge smile, radiant joy, and the thought that now I will focus more on my health.

Well . . . . . I had purchased a foreclosed property last year for 19k which I am fixing up. Today I was reviewing records and updated its market value in my spreadsheet to 40k, which is accurate, and for which I've had one offer already. This move put me at the 1m net worth mark.

It feels fake. Like I just "made up" my millionaire status on the fly by typing it into a spreadsheet. Ever since my windfall divorce reset on this same date five years ago, I've been working like Spartacus, watching my net worth climb slowly from the 300's, to the 500's, to the 700's, to the 900's. Seriously considering changing the value back down and make myself bust my a** to earn another 20k before I celebrate. I've had this forum announcement planned for a while now, and didn't intend for it to look like this; it was going to be concise. "Today I hit the 1m mark."

I realize if a recession comes or my local real estate market were to drop that would put me back under. But it looks like for now I'm in The Club. I'm not ready to accept it for myself yet.

Next goal is to have 1m in investments. I estimate two years out.
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Old 09-26-2019, 01:27 PM   #2027
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Seriously considering changing the value back down and make myself bust my a** to earn another 20k before I celebrate.

Next goal is to have 1m in investments. I estimate two years out.
Congrats!

If you need motivation, just calculate your "Net Invested Assets", less your liabilities, instead of "Net Asset Value". Since your primary domicile doesn't generate revenue (usually), most of us focus on the net invested asset value, rather than including real estate, with regards to the FIRE goal.

That said, my spreadsheet includes both net asset value and net worth.


Keep it up!
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Old 09-26-2019, 02:13 PM   #2028
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Two personal milestones this month
Mint says I crossed $2M invested for the first time. The number is slightly fake
because Mint can't differentiate between tax deferred, tax free and unrealized
gains. It is a nice number though.

Megacorp is starting the regulatory process to sell the asset I work at. There is
a severance offer on the table if I don't wish to transition to the new owners
(which I don't). I signed the EOI (expression of interest) to sever at
the point of handover yesterday. The time until the regulatory hurdles clear is a
bit foggy, could be as soon as March (unlikely). Probably August. There is a
clause that could require me to work for new owner for an additional 90 days,
but that isn't super likely to be enforced. Retirement countdown with a foggy
end date and a nice package has started
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Old 10-09-2019, 06:12 AM   #2029
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Congrats!
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Old 10-09-2019, 07:36 AM   #2030
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Originally Posted by bada bing View Post
Two personal milestones this month
Mint says I crossed $2M invested for the first time. The number is slightly fake
because Mint can't differentiate between tax deferred, tax free and unrealized
gains. It is a nice number though.

Megacorp is starting the regulatory process to sell the asset I work at. There is
a severance offer on the table if I don't wish to transition to the new owners
(which I don't). I signed the EOI (expression of interest) to sever at
the point of handover yesterday. The time until the regulatory hurdles clear is a
bit foggy, could be as soon as March (unlikely). Probably August. There is a
clause that could require me to work for new owner for an additional 90 days,
but that isn't super likely to be enforced. Retirement countdown with a foggy
end date and a nice package has started
This sounds like what I hope my company will do in the next few years(a nice package, and soft ending). We have been losing clients, making late shipments, and prototyping has stopped, so we are working out the contracts we have.
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Old 10-20-2019, 01:39 PM   #2031
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.

Well this is a retirement account milestone. Iíve reached 100K in my Roth IRA for the first time ever. I know that milestone is a relatively minor one and I have a lot more in my 401k account but it bothered me to see this Roth hover just below the 100k mark for what was a couple of months now.

I know itís not important to focus on the nice round number figures but that does seem to be human nature. Considering I didnít start contributing to a Roth until years after starting my 401k and even then I wasnít consistently contributing for the first few years after I opened the Roth Iím happy with how it has grown.

Now I work for a company that has a Roth 401k option in addition to the traditional 401k plan. This past year at my current job was the first time Iíve ever had access to a Roth 401k plan.

I arbitrarily decided to put 2/3 contributions in my Roth 401k and 1/3 into the traditional 401k enough to get the matching contributions. Iím under the impression that when I leave this employer or retire I can roll the Roth 401k portion directly into a Roth IRA.

I do worry that going forward I need more savings in non-tax advantaged accounts. If I really want to retire early say in my early 50s then I will have to fund those years until I reach 59.5 years old. My current 401k does not have the 55 rule so no access at the age of 55 for me.

Not to derail the milestones thread but is there a target percentage of net worth that you try to achieve in taxable accounts that have unrestricted access prior to the age of 59.5 (or 55 depending on your 401k plan)? This seems like an important factor to consider for those of us who want to retire earlier than 60 years old.
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Old 10-20-2019, 05:17 PM   #2032
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...is there a target percentage of net worth that you try to achieve in taxable accounts that have unrestricted access prior to the age of 59.5 (or 55 depending on your 401k plan)? This seems like an important factor to consider for those of us who want to retire earlier than 60 years old.
The percentage of your assets needed in taxable accounts really depends on how many years prior to age 59.5 you intend to retire. The longer the horizon between FIRE and 59.5, the greater the %. Some folks here use a really simple method...annual expenses x this time horizon (e.g., FIRE at 49.5. with an annual spending of $100K, you'd need $1M in taxable).

You can always tap the contributions in your ROTH early, without penalty or taxes, but that's not preferred.
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Old 10-20-2019, 08:30 PM   #2033
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The percentage of your assets needed in taxable accounts really depends on how many years prior to age 59.5 you intend to retire. The longer the horizon between FIRE and 59.5, the greater the %. Some folks here use a really simple method...annual expenses x this time horizon (e.g., FIRE at 49.5. with an annual spending of $100K, you'd need $1M in taxable).

You can always tap the contributions in your ROTH early, without penalty or taxes, but that's not preferred.
When I was putting together my ER plan back in 2007-08, I split it into two parts. The first part, the more difficult part, was getting from my age at the time of expected ER (45) to age ~60 using only the money in my taxable account. The second part, the easier part, was getting from age ~60 to beyond. Starting at age ~60, the first of my "reinforcements" begin to arrive. They include (a) unfettered access to my IRA, (b) my frozen company pension, and (c) SS.

For me it wasn't so much the % split between my taxable account and my IRA, but how much money I had in my taxable account, after I made a big move of cashing out the company stock in my 401k using NUA and adding its proceeds (after taxes) to my taxable account, then anticipating how much income I could reasonably generate versus my expenses. (I had no Roth IRA but I did have some after-tax contributions in my 401k which I also cashed out without taxes or penalties.)
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