Share your FIRE Milestones - 2013- 2020

[The Cosmic Avenger]

^ how many years down the road will retirement be till kid is done with college??

This is their senior year of high school, so about 4.5 years from now work will really feel optional! (It kind of is now, but we want to travel a lot, and be able to spend freely, and have a big margin for recessions/corrections.)

 

[NateW]

As of this month DW and I are completely debt free. Two months ago we bought our new house with cash and just sold the old one and the equity was about 4 times it's loan balance. We also have ample retirement funds that should last us for the rest of our lives, no matter how long we live. Life is good.

 

[ER_Hopeful]

12/15/19 = $830k, all time high.

looked back at my post from mid 2013, it was about $250k. Hope to hit $1 mil within two years. only $3k left on mortgage. I think I'll cut back a bit on the contribution, enjoy life a little and just coast towards the "magic number". Work is ok, not too stressful, doing something I'm proud of.

I heard 2nd 500k comes much easier than the first, seems to be true.

 

[kgtest]

12/15/19 = $830k, all time high.

looked back at my post from mid 2013, it was about $250k. Hope to hit $1 mil within two years. only $3k left on mortgage. I think I'll cut back a bit on the contribution, enjoy life a little and just coast towards the "magic number". Work is ok, not too stressful, doing something I'm proud of.

I heard 2nd 500k comes much easier than the first, seems to be true.

Nicely done. Annual planning shows us getting OUR first half shortly which is cool with me since we are from the dreaded Xennial Generation, me w/o a degree, and DW a social worker over here defying all odds by merely LBYM and being smart with our dough. We have enough left on the mortgage that I will be happy when it finally starts with a 2 sometimes in 2020! Debt at all time lows, equity at all time highs, investments at records, made some pretty decent milestones this year. Work is interesting. If I could tell y'all the bureaucratic BS that is happening you would be shocked. I'll write a book about it someday, but all I can say is it's literally legendary, been all over the news etc etc heh. 2020 work plan looks solid, I'll try to tune the noise out. Done w*rking for 2019, god bless bnkr hrs. Doin' some travelling for the holidays, and next milestone is end of January when I can file Cap Gains forms along with taxes Was informed the books look record setting so bonus should be in order in Q1

The milestone of the year was refi to 15yr. I dropped the closing cost and paid down to close @2.75% over my bday in July!
Incredible...IN Jan balance will be back to where it was pre refi rolled in closing cost so we will plow ahead with excellent low interest rates.

 

[Andre1969]

I ran my numbers this morning, and it looks like I've hit a few milestones.

1) All time high for investible assets... $1,940,565. That is no big deal, itself I guess, as lots of people are hitting new peaks with the way this market is going.

2) I have a gain so far this year, of $401,149 (just appreciation, reinvestment of dividends, etc, NOT counting any extra investments). First year I've ever seen a year where I've popped over $400K like that. Of course, the year isn't over. And the downturn at the end of 2018 helped a bit. Still, it feels nice!

3) I've "made back" the down payment I made on my house last year, and then some. I peaked out in late August of 2018, with $1,934,699. My investments actually eked out some slight gains in September, but I also cashed out around $169,000 for the down payment, which brought my overall investible assets down by a good amount. So, that $1.934M was sort of a psychological barrier to me.

Of course, all these little milestones could get wiped out in a moment's notice, but for the time being, it feels nice.

 

[Andre1969]

12/15/19 = $830k, all time high.

looked back at my post from mid 2013, it was about $250k. Hope to hit $1 mil within two years. only $3k left on mortgage. I think I'll cut back a bit on the contribution, enjoy life a little and just coast towards the "magic number". Work is ok, not too stressful, doing something I'm proud of.

I heard 2nd 500k comes much easier than the first, seems to be true.

Congratulations on that new high! And you're right, the second $500K should come easier than the first, if the stock market cooperates. You had to work, sacrifice, and invest much of that initial $500K yourself, but for the second $500K, you'll have appreciation, reinvesting of dividends/capital gains, compounding, etc, working in your favor.

To use my situation as an example, I started at roughly zero in 1998. I was recovering from a bad marriage, and that was the year I got it paid off, and got serious about investing again. I hit $500K sometime in early 2010. So, say 12 years. I hit $1M in early 2015 so, roughly 5 years.


I hit $1.5M sometime in 2017, but I had the help of an inheritance. I would have hit $2.0M sometime over this past summer, but I pulled out a pretty good chunk last year for a down payment when I bought my house.

 

[gatored]

Just hit $2MM NW.

Hoping to hit $2MM Investable Assets (the more important number) by late 2021

 

[Souschef]

Somehow, through luck or whatever, I rolled my 401 K of $185K in 2009 into a MF that was recommended to me.
Today, it hit an all time high of over $1 Mil
I will gladly pay the RMD on it

 

[street]

^ you did great on that investment move, in ten years time.

 

[RobbieB]

Yup, and isn't it wonderful?

 

[FIREmenow]

After 1 (first) year of retirement, investments are up by 3 times the amount removed to fund the year.

1st year of "sequence of returns problem" solved.

Hope this keeps up!!!

 

[RxMan]

After 1 (first) year of retirement, investments are up by 3 times the amount removed to fund the year.

1st year of "sequence of returns problem" solved.

Hope this keeps up!!!

Congrats! I know if I were in your position seeing those numbers would be quite a relief and a sort of validation of the decision to retire. One day when I finally am able to retire I hope for similar returns in that critical initial period after retirement.

 

[Jeffman52]

DW and I have been married 11 years. Both of us brought debt into our marriage. 10 years ago we knuckled down and paid off all our credit cards and cars and refused to do that again. Took us about a year. So 9 years ago we had no bills and about 50K in retirement savings. Knowing that retirement would be looming we concentrated on that. Today we have over 1 million in retirement savings with 2 more years to go before our ER date. Would like to hit 1.3+ before ER. We will see.

 

[KCGeezer]

Made my first Roth conversion. Many thanks to all of those here that have provided insights into the pros and cons of this. Time will tell how advantageous it will be for DW.

 

[HI Bill]

DW and I have been married 11 years. Both of us brought debt into our marriage. 10 years ago we knuckled down and paid off all our credit cards and cars and refused to do that again. Took us about a year. So 9 years ago we had no bills and about 50K in retirement savings. Knowing that retirement would be looming we concentrated on that. Today we have over 1 million in retirement savings with 2 more years to go before our ER date. Would like to hit 1.3+ before ER. We will see.

Great job in a short time span!

 

[younginvestor2013]

Thanks to persistent savings over the past 8.5 years, plus strong market returns and a sizable inheritance at age 22, my Total liquid assets (taxable and retirement equities plus cash on hand) is now roughly $510k at age 30, plus about $70k home equity.

Graduated college at 22 with a $200k UTMA from my parents which has largely remained invested, so a good portion of the total $500k investable assets is due to that. However, I have saved 15-20% of my income each year since graduating. In addition, I have purchased two homes (both financed, one has since been sold) and two cars modest cars costing roughly $20k (paid cash for both, one has since been sold).

Adding roughly $22k principal each year plus market returns, my conservative plan is to reach $1.0-$1.2m (in today’s dollars) by 40 but I suspect it will come sooner than that. Once I hit $2m (in today’s dollars) I might be willing to leave my corporate job depending on what healthcare costs look like.

 

[Dtail]

Thanks to persistent savings over the past 8.5 years, plus strong market returns and a sizable inheritance at age 22, my Total liquid assets (taxable and retirement equities plus cash on hand) is now roughly $510k at age 30, plus about $70k home equity.

Graduated college at 22 with a $200k UTMA from my parents which has largely remained invested, so a good portion of the total $500k investable assets is due to that. However, I have saved 15-20% of my income each year since graduating. In addition, I have purchased two homes (both financed, one has since been sold) and two cars modest cars costing roughly $20k (paid cash for both, one has since been sold).

Adding roughly $22k principal each year plus market returns, my conservative plan is to reach $1.0-$1.2m (in today’s dollars) by 40 but I suspect it will come sooner than that. Once I hit $2m (in today’s dollars) I might be willing to leave my corporate job depending on what healthcare costs look like.

Very nice post.
I wish my 30 y.o. son would read this.

 

[street]

WOW! Some great achievements and bars set high for others

 

[UnrealizedPotential]

Thanks to persistent savings over the past 8.5 years, plus strong market returns and a sizable inheritance at age 22, my Total liquid assets (taxable and retirement equities plus cash on hand) is now roughly $510k at age 30, plus about $70k home equity.

Graduated college at 22 with a $200k UTMA from my parents which has largely remained invested, so a good portion of the total $500k investable assets is due to that. However, I have saved 15-20% of my income each year since graduating. In addition, I have purchased two homes (both financed, one has since been sold) and two cars modest cars costing roughly $20k (paid cash for both, one has since been sold).

Adding roughly $22k principal each year plus market returns, my conservative plan is to reach $1.0-$1.2m (in today’s dollars) by 40 but I suspect it will come sooner than that. Once I hit $2m (in today’s dollars) I might be willing to leave my corporate job depending on what healthcare costs look like.

Young Investor, that is simply amazing to have your investable assets that high at your age. IMO you might have a shot of leaving your corporate job at age 40 and be fine. But I am looking at a few things. One is your expected living expenses. What will they be at age 40? That's hard to know right now isn't it? Another is do you have enough in taxable accounts to carry you over if you leave your corporate job at age 40 or go part time somewhere else? Remember withdrawing money from tax advantaged accounts before retirement age without penalty is not impossible, but far less than ideal and will likely require help from an expert.

But you at least have a shot to do something very few your age are ever in a position to do.

 

[younginvestor2013]

Young Investor, that is simply amazing to have your investable assets that high at your age. IMO you might have a shot of leaving your corporate job at age 40 and be fine. But I am looking at a few things. One is your expected living expenses. What will they be at age 40? That's hard to know right now isn't it? Another is do you have enough in taxable accounts to carry you over if you leave your corporate job at age 40 or go part time somewhere else? Remember withdrawing money from tax advantaged accounts before retirement age without penalty is not impossible, but far less than ideal and will likely require help from an expert.

But you at least have a shot to do something very few your age are ever in a position to do.

Thanks, UnrealizedPotential. Admittedly, my expenses have slowly increased over the years (but so has my pay). I still am saving 20% of my income, though. My high estimate of annual expenses, excluding healthcare, is about $65k.

Here is my current allocation between taxable and retirement savings. I am currently plowing all principal additions to my retirement savings. Do you think I should cut back?

Cash - 10% - $50,000
Retirement Accounts - 51% - $264,000
Taxable Investments - 39% - $202,500

Also, I know everyone says not to rely on it, but I do expect a sizable inheritance when my folks pass (expected to be roughly $1.5-2m in today's dollars). While I would not fully count on it, it does play into my plans somewhat. Since my folks have expressed their desire to leave a legacy when they pass, I don't anticipate them depleting all of their assets. They also have long term care insurance.

I may pull the trigger at $2m investable assets given the above with the understanding that I could possibly need to go back to work or work part time. I am hoping this will occur in my 40s.

This is exciting potential for me and often has me struggling to "live in the now". I try to focus and remain persistent at work as much as possible while finding time for hobbies, travel, and leisure outside of work to keep things balanced.

No kids for now and no plans to have them, as of now, but who knows, that could change down the road.

 

[TDub]

Thanks to persistent savings over the past 8.5 years, plus strong market returns and a sizable inheritance at age 22, my Total liquid assets (taxable and retirement equities plus cash on hand) is now roughly $510k at age 30, plus about $70k home equity.

Graduated college at 22 with a $200k UTMA from my parents which has largely remained invested, so a good portion of the total $500k investable assets is due to that. However, I have saved 15-20% of my income each year since graduating. In addition, I have purchased two homes (both financed, one has since been sold) and two cars modest cars costing roughly $20k (paid cash for both, one has since been sold).

Adding roughly $22k principal each year plus market returns, my conservative plan is to reach $1.0-$1.2m (in today’s dollars) by 40 but I suspect it will come sooner than that. Once I hit $2m (in today’s dollars) I might be willing to leave my corporate job depending on what healthcare costs look like.

Awesome! Well done.

 

[UnrealizedPotential]

Thanks, UnrealizedPotential. Admittedly, my expenses have slowly increased over the years (but so has my pay). I still am saving 20% of my income, though. My high estimate of annual expenses, excluding healthcare, is about $65k.

Here is my current allocation between taxable and retirement savings. I am currently plowing all principal additions to my retirement savings. Do you think I should cut back?

Cash - 10% - $50,000
Retirement Accounts - 51% - $264,000
Taxable Investments - 39% - $202,500

Also, I know everyone says not to rely on it, but I do expect a sizable inheritance when my folks pass (expected to be roughly $1.5-2m in today's dollars). While I would not fully count on it, it does play into my plans somewhat. Since my folks have expressed their desire to leave a legacy when they pass, I don't anticipate them depleting all of their assets. They also have long term care insurance.

I may pull the trigger at $2m investable assets given the above with the understanding that I could possibly need to go back to work or work part time. I am hoping this will occur in my 40s.

This is exciting potential for me and often has me struggling to "live in the now". I try to focus and remain persistent at work as much as possible while finding time for hobbies, travel, and leisure outside of work to keep things balanced.

No kids for now and no plans to have them, as of now, but who knows, that could change down the road.

Young investor, I can only tell you what I would do if I were in your shoes. I would invest 50 % of my yearly contributions in taxable and 50% in non taxable. If you do that you could be in a position you would want to be at in 10 years. Having more money in retirement accounts {Non taxable} than taxable accounts at age 40 is not tragic, you just need to make sure you have enough in taxable to support yourself if you need to .

 

[NgineER]

Hit $1.7M at the end of Q3, $1.2M investments, $400k rental equity grossing $120k/year and $100k primary residence.

Passed the next million mark for the first time.

 

[fvfire]

Paid off my mortgage on 12/31. Looking forward to 2020!

 

[Dean56]

Paid off my mortgage on 12/31. Looking forward to 2020!

Congrats!! It's a great feeling to no longer have a mortgage.