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03-11-2017, 09:44 AM
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#1401
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Full time employment: Posting here.
Join Date: Mar 2008
Posts: 979
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33 and at the beginning of the month crossed $100,000 in investments for the first time. It feels good. Real good.
It's about a fifth of what I should have, had I been able to stay in the military. The early retirement pension for disability is helping get by, plus the savings I made sure to stockpile knowing my career was done in, so I'm still able to sock away a little percentage to do what I can to make that investment grow. I was also able to invest most heavily in the deepest pits of 2008-2009. That's helped the most, I think.
What I'm able to put in per year averages out to hitting the limit on an IRA, paltry compared to what some put away to hit FIRE, but I can only live the life I have.
For the last decade my returns have just about matched my average contributions, sometimes greatly exceeded it, but even so I think when I start drawing on it in the next 20-30 years, it will have grown into a nice sum.
$100,000! Woohoo!
__________________
I'm free and I like it!
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03-11-2017, 10:22 AM
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#1402
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Thinks s/he gets paid by the post
Join Date: May 2014
Posts: 1,390
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Quote:
Originally Posted by namesbond
I just turned 30 years old and have saved $133,000.00 with only a small car loan $7,000 left on a $15,000.00 car at 2.75% and small mortgage $64,000.00 left on a $120,000.00 condo at 3.375% for debt. Making just under $50,000.00 a year this puts me at 2.66 times my salary at a very young age. I've been maintaining a savings rate around 40%.
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That's awesome! Good for you. When I was 30 I had about 35k saved up. I blew too much money in my 30's. By mid to late 30's that began to change and I did real well after that. Keep it up. You could be retired in 15 years and be sitting on easy street assuming you can keep up the pace and you get pay raises.
__________________
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
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03-11-2017, 10:30 AM
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#1403
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,474
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Quote:
CONGRATULATIONS!!! Six figures at age 33 is absolutely terrific, IMO. You are well on your way.
I think I had about a dollar ninety-eight when I was your age.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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03-11-2017, 10:41 AM
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#1404
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Thinks s/he gets paid by the post
Join Date: May 2014
Posts: 1,390
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Quote:
Originally Posted by W2R
CONGRATULATIONS!!! Six figures at age 33 is absolutely terrific, IMO. You are well on your way.
I think I had about a dollar ninety-eight when I was your age.
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I didn't have my first 100k until age 37. Then the bottom fell out of the stock market a year later. So I agree ,100k at age 33 is awesome.
__________________
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
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03-11-2017, 11:09 AM
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#1405
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,682
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I hit the $100k mark when I was 31. That was in the mid-1990s before the market took off. Those were my peak earnings years as I was working FT. I had just refinanced my mortgage so I was keeping a lot more of what I made. Congrats to RetiredGypsy and namesbond!
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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!"
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03-12-2017, 05:38 AM
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#1406
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Thinks s/he gets paid by the post
Join Date: Dec 2015
Location: Michigan
Posts: 4,962
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Friday I called Megacorp to start my pension. 3 weeks of w**k left and I am done, then 2 weeks of accrued vacation, and the cord is fully cut.
__________________
"The mountains are calling, and I must go." John Muir
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03-12-2017, 10:30 AM
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#1407
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: The Bay Area
Posts: 2,736
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Quote:
Originally Posted by DrRoy
Friday I called Megacorp to start my pension. 3 weeks of w**k left and I am done, then 2 weeks of accrued vacation, and the cord is fully cut.
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Congrats!
Just for grins, you might want to take notes to record activities on your first day of FIRE. I did that and enjoy reading it once in a while.
__________________
You may be whatever you resolve to be.
100% x 10% > 10% x 100%
Small pensions & SS cover essentials
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03-12-2017, 10:54 AM
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#1408
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Dallas
Posts: 1,150
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Quote:
Originally Posted by scrabbler1
Color me impressed, too. I pierced the 60% savings rate twice in my working years, but that was due to some very strong years of investment income which got reinvested and therefore counted (for me) as part of my savings rate. I was usually in the 35%-55% range for most of my working years.
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By the way, I don't count rental, dividend and growth income in my savings rate calculation. I think it is fair to focus on savings rate of earned income. That way I don't become a sloppy saver when market does better. What helped me bump up savings rate from 10% to 60% over the years were:
1. Hawkish eye on avoiding lifestyle inflation
2. Got lucky with hefty pay raises
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03-12-2017, 10:58 AM
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#1409
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Thinks s/he gets paid by the post
Join Date: Jan 2016
Location: Rural Alabama
Posts: 1,353
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Quote:
Originally Posted by pjigar
I envy young savers as well. I was at $107,000 net worth when I was 30 but I was earning close to $90,000/year so 1.2x salary savings ratio which wasn't that great. Now saving ratio is 6x salary at 42. And savings rate is approaching 60-65% of salary.
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Wow- that's awesome! Our best savings rate year was a little in excess of 40% of our gross pay, but our taxes are hefty. We're proud that the last 5 years or so we have saved more than we spent!
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Projected retirement--2020 at age 48 (done!)
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03-12-2017, 10:59 AM
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#1410
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Thinks s/he gets paid by the post
Join Date: Jan 2016
Location: Rural Alabama
Posts: 1,353
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Quote:
Originally Posted by DrRoy
Friday I called Megacorp to start my pension. 3 weeks of w**k left and I am done, then 2 weeks of accrued vacation, and the cord is fully cut.
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Congratulations to you!
__________________
Projected retirement--2020 at age 48 (done!)
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03-12-2017, 07:14 PM
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#1411
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Full time employment: Posting here.
Join Date: Jul 2005
Posts: 614
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So my wife recently updated Quicken to include some updates to an older 401K from a previous employer she still hasn't rolled over. We're now at the point where we can take 4% of our stash to cover our expenses. I'm only 50 though, so I'll have to wait a few more years (IF things continue as they are) before considering RE.
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03-12-2017, 09:52 PM
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#1412
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Dryer sheet wannabe
Join Date: Jan 2012
Location: San Francisco
Posts: 12
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Quote:
Originally Posted by Jasonjam83
Update! Just surpassed 300k!
Sent from my iPhone using Early Retirement Forum
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DW and I just hit 400k. 9 months ago our net worth was 300k, so with a couple of salary increases and the market gains we've been able to average a save rate of 11k per month over that time period. Hopefully we can keep this pace up!
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03-12-2017, 10:18 PM
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#1413
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,682
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Quote:
Originally Posted by pjigar
By the way, I don't count rental, dividend and growth income in my savings rate calculation. I think it is fair to focus on savings rate of earned income. That way I don't become a sloppy saver when market does better. What helped me bump up savings rate from 10% to 60% over the years were:
1. Hawkish eye on avoiding lifestyle inflation
2. Got lucky with hefty pay raises
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I understand what you're saying. But I included nonwage income because my wage income varied so much in my working years, mainly from twice reducing my weekly hours worked in the last 8 years I worked. Based on only my wage income, my savings rate would have dropped a lot, making that rate unrealistic if not irrelevant. My investment income was growing in those last 8 years thanks to my growing portfolio and strong investment returns in the mid-2000s. So I think it is relevant to combine the two income sources because they both represent money coming in but not spent.
__________________
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!"
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03-15-2017, 05:11 PM
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#1414
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Recycles dryer sheets
Join Date: May 2007
Posts: 444
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Investment portfolio crossed the 5 million mark today.
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03-15-2017, 05:37 PM
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#1415
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Recycles dryer sheets
Join Date: May 2014
Posts: 145
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Quote:
Originally Posted by novaman
Investment portfolio crossed the 5 million mark today.
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Congrats, that is a big milestone!
BTW- does your user name refer to the car or something more cosmic?
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03-15-2017, 07:28 PM
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#1416
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Full time employment: Posting here.
Join Date: Mar 2008
Posts: 979
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Quote:
Originally Posted by novaman
Investment portfolio crossed the 5 million mark today.
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That's incredibly inspiring.
__________________
I'm free and I like it!
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03-16-2017, 01:17 PM
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#1417
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Confused about dryer sheets
Join Date: Mar 2017
Location: Winnipeg
Posts: 2
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My first post here...I've been reading the forums for a while, but decided to finally register and start posting.
33 year old from Canada here.
In just realized that in January I hit a milestone $250,000 invested in my portfolio (combination of funds & stocks). Most in Registered retirement accounts, the rest in Tax Free Savings Account.
Next milestone would be half a million I guess. Hoping to crush it before 40.
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03-17-2017, 12:30 PM
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#1418
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Dryer sheet wannabe
Join Date: Jun 2014
Posts: 18
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Just crossed a half million dollars in investable assets 2 weeks shy of my 32nd birthday.
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03-17-2017, 12:49 PM
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#1419
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Recycles dryer sheets
Join Date: Jul 2011
Location: Oregon - Dry Side
Posts: 247
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Quote:
Originally Posted by novaman
Investment portfolio crossed the 5 million mark today.
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Just a question. I've got more or less the same 'problem'.
How do you emotionally handle the rollercoaster in net worth while maintaining an investment portfolio. The daily swings can be ferocious.
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03-17-2017, 12:53 PM
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#1420
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Full time employment: Posting here.
Join Date: Mar 2008
Posts: 979
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__________________
I'm free and I like it!
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