|
|
11-23-2016, 02:26 PM
|
#1261
|
Confused about dryer sheets
Join Date: May 2015
Posts: 5
|
Age 32
DW 31
We just crossed $300K NW milestone (excluding primary residence).
Hope to hit $400K by age 35
Hope to hit $500K by age 37
Hope to hit $1M by 42.
$2M by 50? I'll keep dreaming and keep socking away like a machine.
(all NW figures exclude primary residence)
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
11-23-2016, 08:29 PM
|
#1262
|
Thinks s/he gets paid by the post
Join Date: Mar 2013
Posts: 1,016
|
Quote:
Originally Posted by jsal7
Age 32
DW 31
We just crossed $300K NW milestone (excluding primary residence).
Hope to hit $400K by age 35
Hope to hit $500K by age 37
Hope to hit $1M by 42.
$2M by 50? I'll keep dreaming and keep socking away like a machine.
(all NW figures exclude primary residence)
|
You're doing it right. Keep it up......
|
|
|
11-25-2016, 09:59 PM
|
#1263
|
Full time employment: Posting here.
Join Date: May 2014
Posts: 973
|
Adding money in all our accounts, including retirement accounts, checking, savings, emergency, HSA, etc., we reached the $2.0M milestone today. I did not expect to reach this milestone until the middle of 2017.
This is the amount, according to the 4% rule and our expenses tracking, that we should have for a comfortable level of financial independence or retirement. So, for the first time in my life, I bought some bond funds seriously, increasing my cash/bond part to about 20% of our total portfolio. We plan to move slowly to 75/25 asset allocation.
|
|
|
11-27-2016, 08:14 AM
|
#1264
|
Full time employment: Posting here.
Join Date: Feb 2007
Posts: 599
|
Quote:
Originally Posted by jsal7
Age 32
DW 31
We just crossed $300K NW milestone (excluding primary residence).
Hope to hit $400K by age 35
Hope to hit $500K by age 37
Hope to hit $1M by 42.
$2M by 50? I'll keep dreaming and keep socking away like a machine.
(all NW figures exclude primary residence)
|
Seems like you're on the right track. One of the key factors in knowing if you're reaching FI is to understand your how your expenses compare to your savings/investments. Here's a chart of ratios comparing savings to income, income to expenses and savings to expenses from another couple I know . YMMV
__________________
Dreamin' of Streamin'
FIRE'd at 52 on 7/8/11
|
|
|
11-30-2016, 12:12 PM
|
#1265
|
Full time employment: Posting here.
Join Date: Aug 2016
Posts: 770
|
Today is my 12 year work anniversary at megacorp. (No emails or anything from anyone acknowledging it of course, which is perfectly okay with me.) Tomorrow I reach the 'rule of 70' and can officially retire from megacorp. Unfortunately, the only thing this gets me is a $100/mth pension. Currently tracking to a 6/1/2017 ER date.
|
|
|
11-30-2016, 12:26 PM
|
#1266
|
Thinks s/he gets paid by the post
Join Date: May 2014
Posts: 1,390
|
Quote:
Originally Posted by Carpediem
Today is my 12 year work anniversary at megacorp. (No emails or anything from anyone acknowledging it of course, which is perfectly okay with me.) Tomorrow I reach the 'rule of 70' and can officially retire from megacorp. Unfortunately, the only thing this gets me is a $100/mth pension. Currently tracking to a 6/1/2017 ER date.
|
I had over 26 years in when I quit my job and my pension was only worth $1200 a month. I can't get to it until age 58. Meanwhile inflation eats away at it. I just consider it icing on the cake at this point. Very few jobs even have a pension nowadays and it becomes fewer each year.
__________________
Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things. Charlie Munger
The first rule of compounding: Never interupt it unnecessarily. Charlie Munger
|
|
|
11-30-2016, 01:20 PM
|
#1267
|
Thinks s/he gets paid by the post
Join Date: Aug 2013
Location: North
Posts: 4,023
|
Quote:
Originally Posted by UnrealizedPotential
I had over 26 years in when I quit my job and my pension was only worth $1200 a month. I can't get to it until age 58. Meanwhile inflation eats away at it. I just consider it icing on the cake at this point. Very few jobs even have a pension nowadays and it becomes fewer each year.
|
This makes my potential $181/month pension look good...until I remind myself that's tomorrows dollars, 20yrs from now. If I can hold out until 65 30 years from now its worth $ 432/month. Wouldn't even cover the taxes on my home today and probably why I wouldnt even bother figuring it into my FIRECALC.
All a pension does these days is make it a little tougher to compute your final salary. For instance, if I wanted to go find a better job, with my bonus and pension that would be like another 30k/yr raise. Nobody is paying that in my industry right now unless I move to a high COL.
At least I know how much my pension-cuffs are worth...
__________________
Time > $$$ ~ 100% equities ~ FIRE @2031
|
|
|
11-30-2016, 01:22 PM
|
#1268
|
Thinks s/he gets paid by the post
Join Date: Aug 2013
Location: North
Posts: 4,023
|
Quote:
Originally Posted by nvestysly
Seems like you're on the right track. One of the key factors in knowing if you're reaching FI is to understand your how your expenses compare to your savings/investments. Here's a chart of ratios comparing savings to income, income to expenses and savings to expenses from another couple I know . YMMV
|
3yrs ahead of me. Literally when you turn 42 I will be turning 45 and hitting my first million of investable assets.
__________________
Time > $$$ ~ 100% equities ~ FIRE @2031
|
|
|
12-01-2016, 04:26 AM
|
#1269
|
Recycles dryer sheets
Join Date: Feb 2015
Location: Southfield
Posts: 58
|
Today I am FIREd!
Today I am FIREd! Finished moving from our home of 27 years into the lake house last month, which is now our retirement home. Closed on the sale of that house 2 weeks ago. And yesterday was my last day of w*rk! I've been fortunate enough to have gone through a phased retirement, where I w*rked 1/2 time for full time pay as a knowledge transfer mechanism. When people asked yesterday if I would miss it, I simply stated that at least for the foreseeable future, I'm already so busy with my new life that I don't have time to miss it!
Some credit for being able to ER goes to the great folks on this forum, where I learned enough to pull the trigger years earlier than initially planned. Thanks all!
__________________
The best way to predict the future is to invent it. - Alan Kay
|
|
|
12-01-2016, 04:32 AM
|
#1270
|
Recycles dryer sheets
Join Date: Nov 2013
Posts: 475
|
Congrats Fishndad42. We are about 6 months behind you on the move to our lake house (well cottage really). Enjoy your new home and retirement.
|
|
|
12-01-2016, 06:55 AM
|
#1271
|
Moderator
Join Date: Sep 2006
Posts: 4,006
|
__________________
simple girl
less stuff, more time
(55, married; Mr. Simple Girl, 59. FIRED 12/31/19!)
|
|
|
12-01-2016, 06:59 AM
|
#1272
|
Thinks s/he gets paid by the post
Join Date: Sep 2016
Location: Acworth
Posts: 1,214
|
Congrats
|
|
|
12-03-2016, 11:48 AM
|
#1273
|
Recycles dryer sheets
Join Date: Jan 2006
Posts: 346
|
Was hoping to hit a million at 40, however just did it a few months past my 41st birthday last month. This excludes paid off home of about $400K. Now 10 years ago when i started on this journey i figured i'd be getting close at around 1.1 or 1.2 Million, however I believe I will need to be around 2Mil to pull the plug. Hopefully around 48,49 years old i can do that.
|
|
|
12-03-2016, 06:28 PM
|
#1274
|
Thinks s/he gets paid by the post
Join Date: Nov 2013
Posts: 1,027
|
Quote:
Originally Posted by accountingsucks
Was hoping to hit a million at 40, however just did it a few months past my 41st birthday last month. This excludes paid off home of about $400K. Now 10 years ago when i started on this journey i figured i'd be getting close at around 1.1 or 1.2 Million, however I believe I will need to be around 2Mil to pull the plug. Hopefully around 48,49 years old i can do that.
|
Just like you, I just hit a million in liquid assets at 41. $860k invested and $180k in cash. Hit a million in net worth last year. Plan to use the cash to buy income properties to hopefully accelerate FIRE.
|
|
|
12-05-2016, 06:26 PM
|
#1275
|
Dryer sheet aficionado
Join Date: Jun 2016
Location: Tbd
Posts: 41
|
Six months after reaching a million , net worth passes 1.1 million. considering adding one additional work year to the plan due to loss of Affordable Care Act subsidies expected, unless the market continues to cooperate.
|
|
|
12-05-2016, 10:26 PM
|
#1276
|
Recycles dryer sheets
Join Date: May 2016
Posts: 169
|
DWs 401k+IRA recently hit 1/2 million.
|
|
|
12-06-2016, 06:59 AM
|
#1277
|
Thinks s/he gets paid by the post
Join Date: Apr 2012
Location: Nashville
Posts: 2,504
|
Mailed DW's formal, contractually-mandated retirement notice via certified to corporate officers and counsel yesterday (informal notice/discussions and hunt for replacement began more than 18 months ago). Termination/retirement date of 7/31/17. Starting to feel real.
__________________
OMY * 3 2ish Done 7.28.17
|
|
|
12-07-2016, 10:04 PM
|
#1278
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2012
Posts: 6,096
|
After Wednesday's stock run up our savings + investments hit $2 million, so DW and I now really feel like multi-millionaires . So we celebrated with an extravagant dinner at the most expensive restaurant we could find... NOT! Actually, we just went to the local Asian buffet and enjoyed a large but economical meal.
We don't expect it to stay consistently at this level, but it is a nice feeling for a day, the first time reaching this goal.
__________________
FIREd date: June 26, 2018 - "This Happy Feeling, Going Round and Round!" (GQ)
|
|
|
12-08-2016, 08:17 AM
|
#1279
|
Dryer sheet aficionado
Join Date: Feb 2010
Location: Rockies
Posts: 33
|
Quote:
Originally Posted by jollystomper
After Wednesday's stock run up our savings + investments hit $2 million, so DW and I now really feel like multi-millionaires . So we celebrated with an extravagant dinner at the most expensive restaurant we could find... NOT! Actually, we just went to the local Asian buffet and enjoyed a large but economical meal.
We don't expect it to stay consistently at this level, but it is a nice feeling for a day, the first time reaching this goal.
|
WOW!
Cool Jollystomper
401 broke 750,000 after yesterday's craziness and I would have never imagined I'd get to that level when I found this great community.
Gonna split a $6 footlong with the CO for lunch to celebrate
|
|
|
12-08-2016, 08:48 AM
|
#1280
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,679
|
I finally broke through the $1.4M mark in the last day or so. I first broke the $1.3M mark in May of 2014. I bounced above and below $1.3M a few times in late 2015 and early 2016 before the recent run-up of the stock market overcame the downturn in the bond market enough to push me to $1.401M in the last say or so.
It would be nice to be above $1.4M when 2017 begins in a few weeks.
Onward and upward!
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
|
|
|
|
|
Currently Active Users Viewing This Thread: 2 (0 members and 2 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|