Also hit my significant milestone today!

[2017ish]

Quote:

Originally Posted by Omalley It sounds like your calculation is then Investable Assets minus Debt. This is the primary number I focus on myself, as these are the only amounts that I can rely on to generate 'income' during retirement.

This is what we are focusing on as well. Counting the months down, and we "know" that our house and its 20+ acres, which is adjacent to a new development (complete with streets deadending our way) is worth a lot more than what we will spend on a future abode. Nonetheless, not included in retirement calculations, since we don't know when/if we will receive the proverbial offer that we can't refuse.

[er33]

Updating for 2016:

Investable Assets Minus debts (to borrow Omalley's nomenclature): $1,005,060

Trying to max out 401k's, backdoor roths and then save as much as we can in vanguard post tax accounts.

We had our second kid, so now that's an additional $2500 a month in daycare. We refinanced our mortgage from 15 years to 30 years to give some breathing space in monthly cash outflow. Will probably accelerate payments in 3 years when 2nd kid also goes to (slightly) cheaper preK.

[gauss]

Excellent! First "M" is the hardest!

-gauss

[er33]

2017 Update: $1.2M in liquid investments. 200K equity in our home.

Still hoping to add $200k a year to our assets. Shooting for ER in 8 years.

[exnavynuke]

Quote:

Originally Posted by er33 2017 Update: $1.2M in liquid investments. 200K equity in our home. Still hoping to add $200k a year to our assets. Shooting for ER in 8 years.

Nice progress (and great savings rate!)

[laurence]

Quote:

Originally Posted by er33 2017 Update: $1.2M in liquid investments. 200K equity in our home. Still hoping to add $200k a year to our assets. Shooting for ER in 8 years.

Wow, we were feeling good about adding 80-100k during 2017. That's an incredible savings rate!

[er33]

1.4M in net worth [without home loan and home equity].


So far so good, had to replace HVAC in may, travel has slowed some due to two kids but picking up again next year with Japan/Singapore and UK booked so far.


Hit goal of 100k deposits in after tax investments after maxing out 401k and roth accounts. Want to up that for 2018.

Also trying a little experiment of seeing if a 0% apr with 3% fee is worth borrowing and investing in S&P 500 till may 2019. Sums not included in net worth above.

[er33]

Latest update:
1.6M in net worth [without home loan and home equity].

A bit of a job scare and some reduction in yearly bonuses. Upping our cash fund as well so we are on our way to 6 month of expenses in cash vs. everything invested in our index funds.

Reducing travel as well as our kids near killed us on the japan/singapore trip. Going to wait till next year to go again with the kids, going solo to mexico city at the end of the month.

The experiment with 0% apr with 3% fee is ok so far but ultimately not worth the minor stress in a volatile market.

[er33]

2019 update:

1.88 M in net worth. Lost my job in January. Deep depression after many failed interviews. Started therapy. Then one offer at a lower salary, but amazing manager and decent work. Then two more offers in a row, dream job and higher than ever salary. Hopefully starting that in 3 weeks.

So a bit of a shaky start to the year, but between severance and new salary etc, we *should* make 500k before taxes for this year.

Wish everyone a happy 2019 and see you later.

[ponyboy]

It sounds like you guys are doing good and it seems like you're hitting your goals...you guys have large salaries so its much easier for your NW to grow.

[thumbs]

I'm glad to hear that things are getting back on track. I bet the whole process of losing your job would have been much more difficult than it was if you didn't have that war chest stored up.

[Penny6]

Awesome work! Great diligence to reach your financial goals. For some high income earners, savings is not on their radar. You have outlined how its not only possible, but necessary. No job is guaranteed. Keep moving forward. Blessings to you and family for your new job and future savings. We are gunning for a savings rate of 100k/yr.

[tamalchanda]

Quote:

Originally Posted by er33 2019 update: 1.88 M in net worth. Lost my job in January. Deep depression after many failed interviews. Started therapy. Then one offer at a lower salary, but amazing manager and decent work. Then two more offers in a row, dream job and higher than ever salary. Hopefully starting that in 3 weeks. So a bit of a shaky start to the year, but between severance and new salary etc, we *should* make 500k before taxes for this year. Wish everyone a happy 2019 and see you later.

Awesome [emoji4]. It's really nice to find such astonishing feats achieved.
Best of luck and many many good wishes for your future

[braumeister]

tamalchanda, how about introducing yourself over here:
Hi, I am... - Early Retirement & Financial Independence Community

[er33]

Net worth at 1.91 M at the moment. About 2 months in to the new job. Thank you to everyone who wished me good luck. I regret to say that I crumbled like a shattered mirror at my first adverse event in 11 years. I am feeling more resilient now, so if and when the next job related blow comes, hopefully I will be stronger. I did not enjoy a single day between losing my job and starting my new one when I could have done so much.

[thumbs]

Quote:

Originally Posted by er33 Net worth at 1.91 M at the moment. About 2 months in to the new job. Thank you to everyone who wished me good luck. I regret to say that I crumbled like a shattered mirror at my first adverse event in 11 years. I am feeling more resilient now, so if and when the next job related blow comes, hopefully I will be stronger. I did not enjoy a single day between losing my job and starting my new one when I could have done so much.

Awesome. Good to hear things are back on track! Keep us posted on your progress.

[redduck]

I also hit a significant milestone today (happened at Home Depot): I used the self-checkout for very first time. Bought an Extendable Scrub Brush. Uh, if I return the Extendable Scrub Brush would that negate my significant milestone? I wonder if this is worthy of a poll.

[er33]

Update for Oct 2019:


Hit 2M today. A lot of ups and down due to Mr. Market but chugging along.

[Dtail]

Quote:

Originally Posted by er33 Update for Oct 2019: Hit 2M today. A lot of ups and down due to Mr. Market but chugging along.

Congrats.
Your original post stated you wish to ER in less than 10 years, which would now be within 4 years.
Are you still of this mindset?

[ShokWaveRider]

I think if one wants to retire early nowadays, $3m NW with home paid for is the Magic number, add SS and whatever to that and most of us would be very comfortable. Assuming not a super high COL area. MCOL and HCOL are affordable with that NW once home is paid for.