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A milestone, for now, anyway...
Old 04-30-2007, 03:56 PM   #1
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A milestone, for now, anyway...

People sometimes post milestones here, and I hit a big one last week, although I know it could be temporary if/when the market drops next. I know the number is meaningless, but I'm excited about it anyway...

Investment assets (401(k), IRA, and taxable accounts), surpassed $500K on Thursday for the first time.

I'm 38, single (for now ) and planning to FIRE around age 52.

Karen - loves this forum!
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Re: A milestone, for now, anyway...
Old 04-30-2007, 04:27 PM   #2
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Re: A milestone, for now, anyway...

Congratulations. That's a very respectable number for a 38yo single. Hopefully you'll reach FI much earlier than planned.

I reach a milestone with this post too. This is the 1,000th one!
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Re: A milestone, for now, anyway...
Old 04-30-2007, 04:29 PM   #3
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Re: A milestone, for now, anyway...

Karen,

Congratulations!

2Cor521
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Re: A milestone, for now, anyway...
Old 04-30-2007, 04:35 PM   #4
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Re: A milestone, for now, anyway...

Congrats Karen!

All the way up, the sky is the limit!
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Re: A milestone, for now, anyway...
Old 04-30-2007, 04:52 PM   #5
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Re: A milestone, for now, anyway...

Excellent, always nice to hear another celebrating a milestone!

- John
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Re: A milestone, for now, anyway...
Old 04-30-2007, 05:42 PM   #6
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Re: A milestone, for now, anyway...

Congratulations!! You're well on your way to FI.
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Re: A milestone, for now, anyway...
Old 04-30-2007, 05:45 PM   #7
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Re: A milestone, for now, anyway...

Way to go!! You'll be at $1 million before you know it!
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Re: A milestone, for now, anyway...
Old 04-30-2007, 05:49 PM   #8
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Re: A milestone, for now, anyway...

Cangrats Karen! Now, is the plan to go at a specific (I know you have indicated 52) age, dollar amount or just when it feels right?
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Re: A milestone, for now, anyway...
Old 04-30-2007, 06:04 PM   #9
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Re: A milestone, for now, anyway...

wowee, congrats! how totally awesome!

hearing things like that just makes me more determined to do well for myself - knowing that it can be done!
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Re: A milestone, for now, anyway...
Old 04-30-2007, 07:55 PM   #10
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Re: A milestone, for now, anyway...

Congrats!!!!

We just crossed the same milestone last month. Woo-hoo! Isn't it fun to count your money? LOL
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Re: A milestone, for now, anyway...
Old 05-01-2007, 08:14 AM   #11
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Re: A milestone, for now, anyway...

Quote:
Originally Posted by crazy connie
Cangrats Karen! Now, is the plan to go at a specific (I know you have indicated 52) age, dollar amount or just when it feels right?
Thanks everyone! I've just started realizing that my NW is rising much more because of my portfolio than my savings; although that's been true for several years, I never really thought about it much.

My plan (52) is kind of random but made up of several components:

1) At 51, I'll hit 30 years with the federal government which will allow me to start collecting my full pension at age 57 (otherwise I'd have to wait until I hit 60). Really, I could go at 51 and 3 months.

2) My parents retired at 57, and being the competitive person that I am, I wanted to beat them, and 5 years seemed like a nice round number.

3) I don't have a set $ number in mind, but I have a spreadsheet with all kinds of scenarios that makes me feel comfortable that what I will likely have by my early 50s will ensure that I don't run out of money until I'm 100. I can live with that. (And Firecalc supports my spreadsheet's conclusions).

Thanks for the support everyone!

Karen

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Re: A milestone, for now, anyway...
Old 05-01-2007, 12:42 PM   #12
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Re: A milestone, for now, anyway...

Wow... saving solo and hitting 500k already. That rules. Well done.

At this rate, by the time you are ready to retire, your pension and savings should put you in a great position.
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Re: A milestone, for now, anyway...
Old 05-01-2007, 01:12 PM   #13
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Re: A milestone, for now, anyway...

Thanks bow-tie. We won't talk about the money I paid out to make my ex-husband shut up and go away during my divorce 7 years ago.

I thank my parents for teaching me how to save money, and also for giving me the education and smarts that have lead to me being able to get a pretty high paying job (at least as far as the gov't goes).
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Re: A milestone, for now, anyway...
Old 05-01-2007, 07:48 PM   #14
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Re: A milestone, for now, anyway...

Karen

Congrats on reaching this milestone and moving one step closer to FIRE.
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Re: A milestone, for now, anyway...
Old 05-01-2007, 08:04 PM   #15
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Re: A milestone, for now, anyway...

Way to go! Anything closer to FIRE is great in my book.
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Re: A milestone, for now, anyway...
Old 05-01-2007, 08:15 PM   #16
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Re: A milestone, for now, anyway...

Terrific!

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Re: A milestone, for now, anyway...
Old 05-01-2007, 08:46 PM   #17
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Re: A milestone, for now, anyway...

Way to go!!!!!!!
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Re: A milestone, for now, anyway...
Old 05-02-2007, 04:13 AM   #18
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Re: A milestone, for now, anyway...

Quote:
Originally Posted by kaudrey
Thanks bow-tie. We won't talk about the money I paid out to make my ex-husband shut up and go away during my divorce 7 years ago.
Well... I was about to post that I might have been able to save more but I had to give up half of everything (including retirement funds) to my ex husband : You too? Wow, you've really done great! I've recently reached the same milestone but I'm 46.
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Re: A milestone, for now, anyway...
Old 05-02-2007, 07:43 AM   #19
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Re: A milestone, for now, anyway...

Quote:
Originally Posted by Linney
Well... I was about to post that I might have been able to save more but I had to give up half of everything (including retirement funds) to my ex husband : You too? Wow, you've really done great! I've recently reached the same milestone but I'm 46.
Linney, you are entitled to an offset for the amount of HIS retirement savings. Did he not have any??
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Re: A milestone, for now, anyway...
Old 05-03-2007, 03:23 AM   #20
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Re: A milestone, for now, anyway...

Quote:
Originally Posted by JustCurious
Linney, you are entitled to an offset for the amount of HIS retirement savings. Did he not have any??
We were in a community property state so in truth it doesn't matter who ends up with which asset as long as the split is done 50-50. I kept all of the retirement savings (they were in my name) so he got to keep a much larger amount of the cash from our house. I made my comment about having to give up 1/2 of everything because I was the saver and he was the spender.

My ex took his share of the money and bought a boat. I took mine and bought an economy-class ticket for the journey to FIRE
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