Join Early Retirement Today
Reply
 
Thread Tools Display Modes
First milestone reached
Old 01-14-2013, 06:59 AM   #1
Dryer sheet aficionado
 
Join Date: May 2010
Posts: 38
First milestone reached

My wife and I just passed the 100K mark in our investments last week. To me, this is a significant psychological step towards a great retirement. Next stop 250K...

BTW, not sure if it matters but we are both 33. We're trying to get to FIRE sooner rather than later.
kfindley79 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-14-2013, 07:32 AM   #2
Thinks s/he gets paid by the post
 
Join Date: May 2005
Location: Texas
Posts: 1,038
Thats very good! I had approximately that net worth allowing for inflation at that age. I retired at 55.
__________________
In theory, theory and practice are the same. In practice, they are not.
Lazarus is offline   Reply With Quote
Old 01-14-2013, 07:58 AM   #3
Thinks s/he gets paid by the post
Major Tom's Avatar
 
Join Date: Nov 2009
Location: SF East Bay
Posts: 4,324
I think I had about 25K at that age. I was a slightly late starter. Good job - it will continue to get better and better with time (with the occasional bump along the way, of course.)

Congratulations!
__________________
Contentedly ER, with 3 furry friends (now, sadly, 1).
Planning my escape to the wide open spaces in my campervan (with my remaining kitty, of course!)
On a mission to become the world's second most boring man.

Major Tom is offline   Reply With Quote
Old 01-14-2013, 08:03 AM   #4
Thinks s/he gets paid by the post
Sojourner's Avatar
 
Join Date: Jan 2012
Posts: 2,581
Congratulations, kfindley! I remember getting to $100K years ago and feeling great about it, too.

As is sometimes quoted around here, you will need somewhere between 25 and 33 times your annual expenses in order to retire early (I am currently at about 38x and have just ESR'd, i.e. early semi-retired). The key is to save, save, save as much as you can for many years and try to maximize your income.

Good luck to you!
Sojourner is offline   Reply With Quote
Old 01-14-2013, 04:50 PM   #5
Full time employment: Posting here.
 
Join Date: Jan 2007
Posts: 582
Congratulations, that's great! That's around the age when I realized we really might be able to pull off ER, but I don't think we were up to 100K yet.
__________________

WM is offline   Reply With Quote
Old 01-14-2013, 04:54 PM   #6
Moderator Emeritus
bssc's Avatar
 
Join Date: Dec 2005
Posts: 10,125
Congratulations. The next 100K is easier.
__________________
Angels danced on the day that you were born.
bssc is offline   Reply With Quote
Old 01-14-2013, 05:00 PM   #7
Thinks s/he gets paid by the post
obgyn65's Avatar
 
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
Congratulations.
__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
obgyn65 is offline   Reply With Quote
Old 01-14-2013, 06:46 PM   #8
Recycles dryer sheets
 
Join Date: Nov 2010
Posts: 241
It get easier and easier. Hang in there.
MDJO is offline   Reply With Quote
Old 01-14-2013, 06:47 PM   #9
Recycles dryer sheets
 
Join Date: Sep 2012
Posts: 459
Congrats...That's fantastic! I was in debt at that age.
retire2020 is offline   Reply With Quote
Old 01-14-2013, 06:54 PM   #10
Dryer sheet aficionado
 
Join Date: May 2010
Posts: 38
Thanks for all the well wishes! I'm beginning to enjoy the journey more now that we have an attainable goal set.
kfindley79 is offline   Reply With Quote
Old 01-14-2013, 08:20 PM   #11
Confused about dryer sheets
 
Join Date: Jan 2013
Posts: 2
Quote:
Originally Posted by kfindley79 View Post
My wife and I just passed the 100K mark in our investments last week. To me, this is a significant psychological step towards a great retirement. Next stop 250K...

BTW, not sure if it matters but we are both 33. We're trying to get to FIRE sooner rather than later.
Longtime lurker but registered to reply to your post. Congrats on hitting this milestone. I agree about the psychology of it all. It's so difficult early when you aren't seeing the progress. But at 100k, as little as it is compared to where we all want to end up, is definitely progress.

I'm 38 and my wife is 33. I was a late starter with regards to retirement planning. Fortunately for me, my wife is much smarter than I and a natural saver. She has us headed in the right direction.

We like to chart our 401k balances twice a yr, the end of June and December. We make little dinner bets on when we will hit certain benchmarks. We hit the 100k mark in June of 2011 and the wife and I had a nice dinner at the restaurant of her choice. We hit 150k in December. I think I will win our bet when we hit 250k. What's crazy is we only had about 35k in Dec of 09.

It's amazing how writing our balance down has really motivated us to keep pushing. We have two kids under 4yrs old so we aren't quite maxed out in our 401k's but with every raise we up our %. I am a few % points away from maxing out my contributions and hopefully with a raise this yr, I'll be able to do that. Daycare at $1,000/mo is kicking our butt right now.
EOKO is offline   Reply With Quote
Old 01-14-2013, 09:44 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2009
Posts: 6,682
Quote:
Originally Posted by kfindley79 View Post
My wife and I just passed the 100K mark in our investments last week. To me, this is a significant psychological step towards a great retirement. Next stop 250K...

BTW, not sure if it matters but we are both 33. We're trying to get to FIRE sooner rather than later.
When you write, "or investments," are you counting retirement and taxable (non-retirement) investments?

I was just shy of 32 when I hit the $100k mark in total investments. I was just shy of turning 34 when I hit the $100k mark in only my taxable (non-retirement) investments. So either way my pace is pretty close to yours (although my milestones were in the mid-1990s as the stock market was taking off).

I hope the next $100k is easier than the first $100k, as it was for me. Took me about 2 years (or less) to boost my total by another $100k increment until 2007 when the market began to crash.
__________________
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!"
scrabbler1 is offline   Reply With Quote
Old 01-15-2013, 08:24 AM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: NC
Posts: 21,204
Congratulations! You're well on the way and miles ahead of your peers (I come bearing potential evidence below). It does get easier, or seems so thanks to compounding - it's probably just as hard to reach $100K as $1M, or it seems that way.

"According to CNN Money, the average net worth for the following ages are: $9,000 for ages 25-34, $52,000 for ages 35-44, $100,000 for ages 45-54, $180,000 for ages 55-64, and $232,000+ for 65+."
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
Midpack is offline   Reply With Quote
Old 01-16-2013, 08:49 PM   #14
Recycles dryer sheets
 
Join Date: Jan 2013
Posts: 118
Congrats op, I get pumped up to save and be thrifty every time I see stuff like this. Real inspiration and I truly do appreciate it. Keep up the good work and hopefully others (and myself) will replicate you.
AndrewJackson is offline   Reply With Quote
Old 01-16-2013, 10:51 PM   #15
Thinks s/he gets paid by the post
 
Join Date: Sep 2009
Location: Hong Kong
Posts: 1,688
Congratulations. That's a great achievement, especially at your age.

I can well remember the first time I went through that milestone ... in both directions.
__________________
Budgeting is a skill practised by people who are bad at politics.
traineeinvestor is offline   Reply With Quote
Old 01-17-2013, 08:54 AM   #16
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
 
Join Date: Oct 2004
Posts: 1,719
To the OP and others in the same boat. Don't become fixated on how quickly you can achieve the next milestone. Establish a sensible savings/investment plan and stick to it. You'll avoid focusing too much on the future at the expense of the present.
Jay_Gatsby is offline   Reply With Quote
Old 01-17-2013, 09:23 AM   #17
gone traveling
 
Join Date: May 2012
Location: Fairfax, VA
Posts: 209
Quote:
Originally Posted by Midpack View Post
"According to CNN Money, the average net worth for the following ages are: $9,000 for ages 25-34, $52,000 for ages 35-44, $100,000 for ages 45-54, $180,000 for ages 55-64, and $232,000+ for 65+."
Holy hell. That makes me feel good about my situation.
bo_knows is offline   Reply With Quote
Old 01-17-2013, 01:28 PM   #18
Recycles dryer sheets
 
Join Date: Apr 2009
Posts: 93
Well done! Keep it up!
av8er is offline   Reply With Quote
Old 01-17-2013, 01:39 PM   #19
Dryer sheet aficionado
 
Join Date: May 2010
Posts: 38
Quote:
Originally Posted by scrabbler1 View Post
When you write, "or investments," are you counting retirement and taxable (non-retirement) investments?

I was just shy of 32 when I hit the $100k mark in total investments. I was just shy of turning 34 when I hit the $100k mark in only my taxable (non-retirement) investments. So either way my pace is pretty close to yours (although my milestones were in the mid-1990s as the stock market was taking off).

I hope the next $100k is easier than the first $100k, as it was for me. Took me about 2 years (or less) to boost my total by another $100k increment until 2007 when the market began to crash.
We've just recently began contributing to taxable accounts outside of our retirement. The 100K figure would be 99.9% retirement accounts.
kfindley79 is offline   Reply With Quote
Old 01-17-2013, 02:08 PM   #20
Gone but not forgotten
imoldernu's Avatar
 
Join Date: Jul 2012
Location: Peru
Posts: 6,335
Attitude comes first... Good on ye!
imoldernu is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


» Quick Links

 
All times are GMT -6. The time now is 07:49 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.