Share your FIRE Milestones - 2013- 2020

[Andre1969]

Quote:

Originally Posted by 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.

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]

Quote:

Originally Posted by 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!!!

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]

Quote:

Originally Posted by 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.

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]

Quote:

Originally Posted by 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.

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]

Quote:

Originally Posted by 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.

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]

Quote:

Originally Posted by UnrealizedPotential 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]

Quote:

Originally Posted by 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.

Awesome! Well done.

[UnrealizedPotential]

Quote:

Originally Posted by younginvestor2013 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]

Quote:

Originally Posted by 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]

Quote:

Originally Posted by FVFIRE Paid off my mortgage on 12/31. Looking forward to 2020!

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