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Old 04-19-2013, 08:52 PM   #101
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I logged into vanguard today and noticed they had reduce the ER on some of my funds. I'm now under 0.2% ER for my portfolio which is something I had been struggling to achieve for a long time.
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Old 04-19-2013, 10:38 PM   #102
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Wow, that's a LONG way to come in 20 years! Not just the net worth, but the language too. I wonder how many can say the same. You should be proud.

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With diligent LBYM and some luck of not making big mistake, this month, our net worth hit a BIG milestone $1M. Although, most of it is equity of primary resident and a rental. I'm pretty humble with with this achievement. Looking back 20 yrs ago, both DW and I came to this country with no English and about $20 in our pocket.
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Old 04-20-2013, 10:01 AM   #103
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I love reading all the milestones and admire everyone's efforts! We are currently 40, here are some of the milestones we've celebrated and hopefully there will be more to add in the future.

$40,000 in investments at age 25
$1m in investments at 34
Paid off mortgage early on new construction home at 37
$2m in investments at 39
$2.2m in investments currently

In 2012, we added $180,000 to our investments -- a new best surpassing $177 in 2011. In the last 9 years we’ve averaged adding $117k to our investments.

I remember thinking back when we had just $10k invested, that someday when it hit $1m, I would buy a sports car, but we actually went out for a $30 dinner and glass of wine at our favorite spot. Then I thought, "boy if we hit $2m, I'll really splurge." We went back to favorite spot, might have had more than one glass of wine

Keep plugging away everyone!
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Old 04-20-2013, 10:46 AM   #104
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I remember thinking back when we had just $10k invested, that someday when it hit $1m, I would buy a sports car, but we actually went out for a $30 dinner and glass of wine at our favorite spot. Then I thought, "boy if we hit $2m, I'll really splurge." We went back to favorite spot, might have had more than one glass of wine

Keep plugging away everyone!

LOL...when I was younger, I used to fantasize about buying a Ferrari or Lamborghini when I 'made it'.

Once I reached that level, I realized I was waaaaay too frugal and made to many sacrifices to instantly spend that much on something that depreciates that quickly, and costs that much to maintain/insure.
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Old 04-20-2013, 11:02 AM   #105
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When my business really took off, I bought a nice bike. Buying a sports car to me would have seemed like a move in the wrong financial direction.

The bike provided a cheap hobby, exercise and an inexpensive form of transportation. I bought the bike on sale and it is still in good shape, so it still has at least some resale value left.

I think knowing what I know now I would have shopped at garage sales or on Craigslist instead of going to a bike store. But looking back, all things considered, the bike wasn't a half bad financial decision.
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Old 04-20-2013, 11:09 AM   #106
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Yeah, the younger me just thought at $1m a sports car would be the thing to do, but when I got to the $1m mark, buying an impractical vehicle would be so contrary to the discipline that it took to get to $1m that it never crossed my mind. Heck, now I have a truck that is 9 years old and over 100k miles and I could easily buy a new one and pay cash, but I would MUCH rather have that 40 or 50k become 100, 200 or 300k over time and help push me to FIRE!
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Old 04-20-2013, 07:18 PM   #107
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This has been our FIRE journey since 2001:



This graph does not include our investment real estate and stock options.

We paid off our mortgage debt in 2012 and we are now debt-free.
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Old 04-20-2013, 07:28 PM   #108
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You retired with less than 5 years expenses in assets? Sizable pension, I assume?
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Old 04-20-2013, 07:30 PM   #109
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I retired weeks ago with >40 years expenses in assets, but no pension and SS is 20 years away.
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Old 04-20-2013, 07:40 PM   #110
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You retired with less than 5 years expenses in assets? Sizable pension, I assume?
The graph starts in 2001, when I started tracking our finances, and when we were still in the early days of our careers - no pensions.
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Old 04-21-2013, 12:12 AM   #111
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Ah, I took "FIRE journey" to mean your early retirement.
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Old 04-21-2013, 07:18 AM   #112
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Originally Posted by Retire44 View Post
I love reading all the milestones and admire everyone's efforts! We are currently 40, here are some of the milestones we've celebrated and hopefully there will be more to add in the future.

$40,000 in investments at age 25
$1m in investments at 34
Paid off mortgage early on new construction home at 37
$2m in investments at 39
$2.2m in investments currently

In 2012, we added $180,000 to our investments -- a new best surpassing $177 in 2011. In the last 9 years we’ve averaged adding $117k to our investments.

I remember thinking back when we had just $10k invested, that someday when it hit $1m, I would buy a sports car, but we actually went out for a $30 dinner and glass of wine at our favorite spot. Then I thought, "boy if we hit $2m, I'll really splurge." We went back to favorite spot, might have had more than one glass of wine

Keep plugging away everyone!
R44-

That's very impressive. Although the market has helped in the past few years, looks like your LBYM and investing discipline did most of the work. Good on ya!

Reminds me of an article I read years ago. The thesis was that one way to "guarantee" a certain annual return over a defined period was to be willing (and able) to make up any annual shortfall with additional contributions. So, for example, if one needs a 10% AR to reach FIRE (or any other goal), and gets only say 6% return from the portfolio, then one must contribute the additional 4% that year. Easier early on when the amounts are smaller but, doable.
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Old 04-21-2013, 07:30 AM   #113
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This has been our FIRE journey since 2001:



This graph does not include our investment real estate and stock options.

We paid off our mortgage debt in 2012 and we are now debt-free.
Wow. You must still be contributing substantially to your portfolio because the S&P has ~doubled in the past 5 yrs while your investments have grown by 3.5 times. Or, you may just be a "Buffet-like" investor.
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Old 04-21-2013, 08:15 AM   #114
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At 19, my goals in 2012 were $5,000 in a ROTH IRA, $5,000 in emergency savings, $2,000 in cash by '13, and I hit that! It's one goal on a long list of many to come.

My short term goals are to max my ROTH again to the new limit, get my emergency savings to $7,000, increase my cash by $1000, and talk to someone about developing an investment portfolio and the best methods of saving for a home down payment.

More long term, I hope to max out contributions to my ROTH until age 26, when I have to start paying for health care, so $36,000 there with the new limits. I also hope to have $15,000 emergency and $10,000 on hand.

I'm reluctant to guess things beyond that point for lack of a reasonable idea what health care and mortgage costs will be.
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Old 04-21-2013, 08:21 AM   #115
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FIREing in 33 days just prior to 55th birthday.

Yaaaaahoooooooo!!!!
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Old 04-21-2013, 09:04 AM   #116
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FIREing in 33 days just prior to 55th birthday.

Yaaaaahoooooooo!!!!
Congrats!!
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Old 04-21-2013, 01:18 PM   #117
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30 years old and just hit $50,000 this week in Roth, solo 401k, and HSA. I have a long ways to go, but still a good milestone.

Another milestone I think is just refinancing my house to the lowest interest rate I'll ever see of 3.25% w/ 100% financing 30 yr fixed (I know it's frowned upon, but it's my situation).

I'm pretty sure you're ahead of where we were when I was 30. Given the rate on my first house was 9% (as a result of a redevelopment grant, since rates were about 14% then), I'm envious.
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Old 04-22-2013, 09:54 PM   #118
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Originally Posted by Retire44 View Post
I currently 40, here are some of the milestones we've celebrated and hopefully there will be more to add in the future.

$40,000 in investments at age 25
$1m in investments at 34
Paid off mortgage early on new construction home at 37
$2m in investments at 39
$2.2m in investments currently

Keep plugging away everyone!

What's your net worth? I'd think that is a far more meaningful/telling milestone. I Do your investments include primary residence/home?
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Old 04-22-2013, 10:47 PM   #119
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What's your net worth? I'd think that is a far more meaningful/telling milestone. I Do your investments include primary residence/home?
By "investments" I mean our stock portfolio (taxable, 401ks, etc), I have not included our home in the investments amount. We have paid off home with value of approximately $250,000 and no debt of any kind.
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Old 04-22-2013, 11:15 PM   #120
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For what it is worth, from the time I first cracked $1m it took about 12 years to crack $2m. However, for the first 3 years of that time I actually went under $1m because of the market conditions. So once I was over $1 mil for good, it took about 9 years, which comes out to an average of about 8% during those 9 years. Could have done better if I had invested more aggressively. But it previously took me only 4 years to double my money from 0.5 m to 1.0 m.
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