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Old 05-25-2014, 03:02 PM   #501
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The only poor people on this forum are the folks who are still working and don't want to be.

Hey, I resemble that!
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Old 05-25-2014, 04:29 PM   #502
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Congratulations - and don't let it worry you. I have 740K, and feel poor compared to the folks with $1M - 1.5M. They probably feel poor compared to those here with $5M - $10M!
I agree, and I'll add to the congratulations. Actually, I think I felt "richer" when I first broke the $100K barrier than I do now. Looking back at my records, it looks like I hit the $100K barrier back in the summer of '03. However, back then, a pretty good chunk of what I had was comprised of savings bonds that my Mom took out for me when I was a kid. When I look at my investible assets, I tend to factor out those savings bonds, as well as my checking account, so I actually keep two running totals: one with everything, and one with the savings bonds and checking account subtracted out. I guess I mentally separate the savings bonds because that's something that Mom did for me, not something I did myself. And the checking account fluctuates a lot. But anyway, I hit $100K with everything in the summer of '03, and hit $100K without the bonds/checking in January 2004.

Anyway, as of Friday's close, I'm at a new high: $960,512 with everything, $938,622 with the bonds/checking subtracted out. But, somehow, I don't feel as rich now as I did when I crossed that $100K barrier. I think part of it may be age. I was 33 when I hit $100K, and it just seemed like I had a good long life ahead of me. But now I'm 44, and just so much more self aware of how fast the time goes by, and what a precious resource it really is. I think I was also in a happier place, with regards to my life back then, too. I had just moved into the house, and was starting to get my condo ready to sell, so that was a major stepping stone. I had a better relationships with some of my family members back then, and some of them have since gone south. And, I've been through a few relationships and friendships that have come and gone, so I might be a bit more jaded nowadays, and have a few family members who have fallen on failing health, and/or are knocking at death's door, so that takes its toll. Oh, and I liked my j*b a lot more back then, than I do now.

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Actually, I don't feel poor at all because I have a bicycle, 6 cats, and a half-finished bottle of Argentinian Malbec, but I'll save the "what do you need to be content" comment for another thread
Sometimes I have to remember to do that, myself...be thankful for what I do have, rather than annoyed with what I don't...
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Old 05-25-2014, 06:46 PM   #503
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Speaking of new milestones, I have a feeling it is going to be harder for full retirees like me to claim new ones in the years ahead. We are in the decumulation stage after all. Is it natural to be spending money, and still have your stash grow?

My WR in the last 12 months was only 3.1%, and that included some non-periodic expenses like having the home exterior painted, a minor kitchen remodel, and charity donations. Else, the WR would be only 2.6%. That and the bull market helped my stash set new highs repeatedly. Still, it would not surprise me to see that trend reversing any time now.
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Old 05-25-2014, 07:05 PM   #504
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I think I posted in this thread already, but here is an update anyway.

I believe that current NW is around 2.1M - 1.3 investable assets, 800k in various mortgage free properties. The real estate has appreciated incredibly over the past ten years - here in Canada the U.S. style housing correction just didn't happen. Some of my properties have doubled in value since the late 90's, early 2000's, while a few have TRIPLED. Many experts feel that Canada's real estate reckoning is coming...

Anyway, the plan is for me to give my employer notice in mid-July, and pull the plug on Nov. 1. I have support from my wife, and a kind of bewildered acceptance from my parents - not sure why I need a blessing from anyone beyond my wife - that's just the way I am I guess. As July approaches, I expect to waver back and forth many times as to whether I am actually going to do it. OMY syndrome is REAL.

I'm 42, BTW.

If I had to guess, by the time my wife quits her gig for good our NW should be around 3M, assuming historical market returns going forward.
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Old 05-26-2014, 10:29 PM   #505
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We crossed $2.8m for the first time on Friday...41 years of age and hoping to wrap things up by 44.
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Old 05-28-2014, 09:11 AM   #506
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Officially passed my "number" yesterday that makes all the calculators happy.
I suspect I will bounce below the number today or tomorrow. So I'm in OMY (or at least a few more months) to add even more cushion to the number.

But ER is within my grasp now... Just have to build up the courage to take the plunge.
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Old 05-28-2014, 10:17 AM   #507
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^congrats guys! those of you that are close to or have reached your goals it'd be great to hear how long you've saved and what were the biggest contributing factors to your success. I'm always curious.
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Old 05-28-2014, 10:38 AM   #508
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^congrats guys! those of you that are close to or have reached your goals it'd be great to hear how long you've saved and what were the biggest contributing factors to your success. I'm always curious.
I saved for about 20 years. Never made much money, but saved as much as I could. A big contributor were the properties (both investment and one to live in) that I owned for a few years during a fast run-up in prices. I was lucky enough to sell at the peak of the market. I didn't own property for long but from an investment point of view, I owned it at the right time.

A modest inheritance was the icing on the cake.
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Old 05-28-2014, 11:22 AM   #509
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Setting goals and focusing. I have always had a focus on budgeting and watching my money grow. I posted fliers around my town when I was 11 years old and offered to wash cars and mow lawns. I started working at a local restaurant when I was 13 and read somewhere that people with college degrees made more money. We couldn't afford college, so I joined the USAF after high school and saved my money to pay for college. I enjoyed the accounting classes, finished college, passed the CPA exam and was recruited to an accounting firm. After a few years, I joined megacorp, when my friends were going to .coms. I focused on working hard, setting Net worth goals and setting up my net worth to allow me to retire young.

We are each wired differently so it depends on what motivates you. I have used a few mental tricks over the years. One is I have this fear of being poor, so I have tried to set goals that limit that risk. Another one I have done is looked at my friends and mentors and tried to figure out what they are doing right and wrong. Create goals (short/long term-personal, professional and financial), monitor your goals, spend a lot less than you make, diversification, minimize taxes, cherish your family and friends, keep a close eye on your health (workout, visit your doctor/dentist each year, watch your diet), work hard and play hard.

Luck also plays into this. When I joined megacorp in the late 90s, my friends thought I was nuts. There was quick and big money to be made in .coms. My megacorp was fighting for it's life, and today it is one of those Cinderella stories.
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Old 05-30-2014, 02:46 PM   #510
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How about two things. $2.7m and 11 months to go to FIRE. Though the second number is tentative as the $2.7 needs some more help.
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Old 06-01-2014, 10:19 AM   #511
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^congrats guys! those of you that are close to or have reached your goals it'd be great to hear how long you've saved and what were the biggest contributing factors to your success. I'm always curious.
The biggest thing for us is that at around 30 years old, I decided that working into my 60's wasn't something I wanted to do. So instead of buying a large house, we bought a very affordable condo (even Vancouver was affordable back then), and payed it off in about 8 years. During those mortgage pay down years, we were probably still able to save about 65% of our income. Once the mortgage was gone, we probably were saving about 80%. Right now, just months before I am FIRE'd, we are saving 85%. So it took us about 12 years of diligent saving to reach the point where I can stop working at 42 years old.

I attribute very little of our financial progress to investing - I am still in learning mode - it is pretty much all due to extreme LBYM... been an amazing journey. ER will be even better I suspect.
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Old 06-02-2014, 09:34 AM   #512
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^thank you for sharing! It's great and inspiring to hear these stories of simple hard work and basic LBYM strategies because they aren't out of reach of the average Joes like me. Unlike say of those who were fortunate enough to take a company to IPO or inherited huge sums or won a lottery etc.
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As of Friday....
Old 06-03-2014, 08:17 AM   #513
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As of Friday....

For the first time, crossed over $4.7M in the investment portfolio as of Friday's market close. Total NW approximately $4.9-$5.0M if I factor in cash and the house. Turning 35 on Saturday so that isn't a bad present to myself at all!
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Old 06-03-2014, 08:34 AM   #514
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For the first time, crossed over $4.7M in the investment portfolio as of Friday's market close. Total NW approximately $4.9-$5.0M if I factor in cash and the house. Turning 35 on Saturday so that isn't a bad present to myself at all!

I would say $5MM at age 35 is doing rather well. Congratulations !
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Old 06-03-2014, 08:44 AM   #515
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It's not a huge milestone, but last night's close pushed me to $970K for the first time. Even though the market was fairly flat, I have some shares of Cedar Fair (FUN) that did really well. So, that coveted $1M mark is getting closer by the minute!
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Old 06-03-2014, 12:27 PM   #516
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For the first time, crossed over $4.7M in the investment portfolio as of Friday's market close. Total NW approximately $4.9-$5.0M if I factor in cash and the house. Turning 35 on Saturday so that isn't a bad present to myself at all!

That's really impressive! How long do you plan to keep going?
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Old 06-03-2014, 12:40 PM   #517
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That's really impressive! How long do you plan to keep going?
Thank you... It was a right field, right time situation. Started a company at 25 and sold last year at 34. I'm not working right now until I decide on my next venture, be it another entrepreneur run or going to work elsewhere. Our days are filled with travel, home improvements, and going back to school in the meantime. I'm sure I'll work again, but I'd be lying if I said I was in a hurry to go back

(I'm sure I will within the next 6-9 months though. I'm cognizant about the challenges that result from remaining out of the workforce for too long)
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Old 06-03-2014, 01:36 PM   #518
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Frequent visitor to this thread, first time poster. Very motivating albeit sometimes not, as we have a long ways to go.

Hit 250k in retirement assets(tax adjusting the roth) and 50% equity in our home

NW is 330k and I hope to hit 400k by my 30th birthday in March
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Old 06-04-2014, 02:19 PM   #519
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Also a frequent visitor, first time poster. Passed $1M in combined retirement and non-retirement investments for the first time just after the new year, now at $1.035 and hopefully climbing. I'm 56, wife is already retired at 52 (she contributed about half of the total during her working years), and I'm hoping to retire just before I turn 61. I recently picked a retirement date of 01/25/19. At this point FIREcalc and FIDO RIP both have me at 100% success rate using that date. Time will tell but I'm hopeful.

Enjoy this forum immensely, thanks to everyone for your interesting and informative posts!
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Old 06-05-2014, 06:17 PM   #520
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My largest investment holding - VTI, the Vanguard Total Stock Market ETF - closed at over $100 for the first time today.

Even though the rational Harry knows that this isn't a real milestone, it is an event the emotional Harry has been anticipating for quite a few months.
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