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Old 11-10-2011, 02:11 PM   #41
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That's great... what is your advice to other people in their twenties who might or might not be concerned about their financial future?
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Old 11-12-2011, 04:41 PM   #42
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Congrats. I am hoping to get to this milestone by December of next year. The first 100K was the hardest
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Old 11-12-2011, 07:40 PM   #43
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Congrats on your milestone!

Regardless of savings via salary or gift, you still have it
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Old 11-12-2011, 08:47 PM   #44
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Congrats. If you haven't started planning on your FI number, never hurts to do it early, puts life in perspective when work is tough. Personally my FI number $700k+paid off house (as long as I am living single), should hit it around 35-36.

As for health insurance, I've said it many times, people who ER in the 15-25k, (higher if not single), spending range will be able to use the heavy healthcare subsidies in 2014+, and will get better coverage than medicare provides as well, as long as they don't fall into medicaid range. Perhaps it should not be planned on until it properly starts up, but that is only two years off.
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Old 11-13-2011, 11:22 AM   #45
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Well done...we got married when I was 26 in 97 and had $6k in debt only. By 2006 we got to $250k and then $500k by 2008. Now we're retired at age 41 in Mexico just shy of $1mm...

Got a lot of help from the salaries from 07 to 11 and saved like mad people...if you want to get to ER, you got to be a little crazy that way; instead of driving the BMW, saving...

We knew we wanted to do something "good" vs. growing a bank account...it hit us this year and we were in a circumstance to do it.

I love to compare / talk about it, just think its a little taboo still in our society. People think you're bragging instead of just being excited to use it to do something "higher"...
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Old 11-13-2011, 01:32 PM   #46
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The nice think about financial milestones is they come faster and faster if you stick with it. From the time I started saving it took me 17 yrs to save our first million, then only 8 yrs to save our second million in liquid investments. You are doing great, better than I was at age 32.
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Old 11-13-2011, 03:12 PM   #47
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The nice think about financial milestones is they come faster and faster if you stick with it.
Assuming you space them linerarly and have exponential growth, yes.
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Old 11-13-2011, 03:15 PM   #48
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I don't post on here too often, but I just wanted to celebrate with a bunch of anonymous like-minded people that I reached a new milestone. I have half a million in cash/investments. My last big milestone was $250,000 in late 2006 at age 27.

Have any of you hit milestone targets lately? Do you feel weird talking to other people about it, because you're worried that they will be jealous or want your $$$$?
D*

Well done!

By any measure and even with the help along the way, you're doing what almost all on this forum aspire to do - LBYM and FIRE; and, at a pace that's very impressive.

Your post, and another one about keeping a written record on a notepad, made me go back and look at my notes on our running investment balance that I've kept in my daytimer (yes, some people still use them) for 15 yrs. It's a satisfying read despite all the ups and downs. As I reviewed that running tally, the most noticeable thing to me, and the one piece of advice I'd offer to you, is to stick to your guns and keep plowing in the savings when it's hardest - when the market is tanking. I'm young enough to remember the crash of '87 and wonder why all the 50 yr olds I worked with were in such a frenzy; and I'm old enough to have felt exactly the same way in 2001 and 2008. And, because we just kept our heads down and kept plowing $$$ in during the past 10 yrs, we've been able to double our net worth twice in that time. We are now on the verge of being able to retire if we choose.

So, keep it up and, when the next crash happens...keep it up with vigor!
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Old 11-15-2011, 08:39 AM   #49
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Daystar, nice work! Like others have said, with help or no help that is an amazing achievement! I've known people who received nice gifts like you and have and blew it all on partying their a*ses off. It takes alot of discipline to get a chunk of cash and earmark it for a much later time in life. I also received some nice help from my parents (rest in peace mom and dad, miss and love you both).
Sounds like you (at least for now) enjoy your job and have no plans for a very early retirement. That's cool, and it's also cool you are setting yourself up to do whatever you want no matter what happens!
Congrats again!
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Old 11-24-2011, 09:01 AM   #50
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This board sure isn't representative of broader society... the average Joe in Canada and the U.S. are not members here.

Now since in this thread it seems acceptable to share very personal financial stats, I'll join the party. Come this January, I should cross 800k in liquid assets at 39 years old. One million has always been my "number" as to when I will ER, so I am hoping 3 more years of saving like a madman and I should be there. DW has kindly offered to continue to work, bless her heart.

Congrats to the OP for the amazing progress at such a tender age...
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Old 11-24-2011, 10:01 AM   #51
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This board sure isn't representative of broader society... the average Joe in Canada and the U.S. are not members here.

Now since in this thread it seems acceptable to share very personal financial stats, I'll join the party. Come this January, I should cross 800k in liquid assets at 39 years old. One million has always been my "number" as to when I will ER, so I am hoping 3 more years of saving like a madman and I should be there. DW has kindly offered to continue to work, bless her heart.

Congrats to the OP for the amazing progress at such a tender age...
Well done SK! .

You're on track for FIRE at a relatively early age, AND with a spouse who wants to keep working; how great is that!?!? Just keep making those regular deposits and it all works
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Old 11-24-2011, 10:08 AM   #52
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Well done SK! .

You're on track for FIRE at a relatively early age, AND with a spouse who wants to keep working; how great is that!?!? Just keep making those regular deposits and it all works
Really, I could approach her and suggest that I could retire NOW... we could live (and still save) quite comfortably on one income... but I don't want to push my luck. Dual income streams for a few more years will provide some nice buffer in our plan.

I belong to a few financial message boards and there is alot of hand wringing about the lack of growth in retirement portfolios... my comment is often that the best financial plan in existence is LBYM.
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Old 11-25-2011, 06:44 AM   #53
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Congratulations! I have several more years to go, but it's inspiring and motivating to see other people arrive at this destination.

Please post back and describe how your first week went.
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Old 11-26-2011, 08:50 PM   #54
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That's great... what is your advice to other people in their twenties who might or might not be concerned about their financial future?
Life isn't about the accumulation of things.

A few years ago one of my friends that I hadn't seen in a while was showing me his house that he shares with roommates, and he's like this is my new car, my pool table, my big screen TV, my new game system, cool stereo...you get the idea. On almost every level he had better "stuff" than me. I finally had to tell him that this isn't what impresses me and that if I really wanted to, I could buy all this stuff multiple times over. I told him that what really impressed me about him is that right out of high school, he signed up for Marine Corps infantry and served in Afghanistan. That's something that matters.
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Old 11-26-2011, 09:04 PM   #55
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if you want to get to ER, you got to be a little crazy that way; instead of driving the BMW, saving...
I almost thought of buying a new Mercedes a few years ago. I was going to justify it based on it having a lot more safety features than my 2004 Ford Taurus. Thankfully, I didn't go through with it and I'm still driving that Taurus. It's only got 76,000 miles on it, so it's got quite a bit of life left.
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Old 11-27-2011, 12:30 AM   #56
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Well, my first month as a half millionaire wasn't even a month. I'm down to $471K. My spreadsheet has reminded me how much money I "lost" this month.

-$29,369
-5.87%
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Old 11-27-2011, 08:14 AM   #57
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Well, my first month as a half millionaire wasn't even a month. I'm down to $471K. My spreadsheet has reminded me how much money I "lost" this month.

-$29,369
-5.87%
You had 5 bucks and you are down 29 cents.
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Old 11-27-2011, 08:21 AM   #58
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Congratulations! I'm about the same age and probably on about the same schedule less gifts. As people have noted, even excluding the gift money, you're doing a great job! Not too far to go - hopefully the momentum will start doing a lot of the work now!
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Old 11-27-2011, 08:57 AM   #59
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You had 5 bucks and you are down 29 cents.
Heh. I like that perspective.
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Old 11-30-2011, 07:16 PM   #60
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Well, today's market action should have put you back over the $500k mark.
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