Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
I celebrated my 42nd birthday this month and hit a Milestone!
Old 04-22-2011, 11:03 AM   #1
Full time employment: Posting here.
 
Join Date: Dec 2010
Location: Southern California
Posts: 916
I celebrated my 42nd birthday this month and hit a Milestone!

...then asked myself.... How many more of these do I have to have while maintaining a JOB!!! Actually, my job is ok, just don't love it so don't tell my boss.

As a milestone, I crossed the 1M mark with invested market assets. This does not include real estate investments or primary residence values, just taxable $$, 401k, Roth, and 529, not including emergency fund.

DW was surprised that I was so happy!

p.s. Thanks to the forum for always sharing, I feel more focused at climbing the non-corporate ladder.
__________________

__________________
Aiming_4_55 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 04-22-2011, 11:50 AM   #2
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,934
Congratulations! What a wonderful accomplishment.
__________________

__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 04-23-2011, 05:48 AM   #3
Full time employment: Posting here.
 
Join Date: Dec 2010
Location: Southern California
Posts: 916
Thanks W2R.
__________________
Aiming_4_55 is offline   Reply With Quote
Old 04-23-2011, 02:20 PM   #4
Full time employment: Posting here.
Calgary_Girl's Avatar
 
Join Date: Jun 2004
Location: Calgary
Posts: 775
Congratulations! We also crossed the $1 million mark between our retirement and taxable accounts and are approximately the same age (DH is 41, I'm 38).

However, I DON'T include the kids' RESP's (similar to 529) in the calculation but I do include our emergency fund.

I wonder how long it'll take to get to $1.5 million?
__________________
I can only be nice to one person today! Today is not your day...tomorrow doesn't look good either.
Calgary_Girl is offline   Reply With Quote
Old 04-23-2011, 05:08 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,036
Congratulations to both of you that is great !
__________________
Moemg is offline   Reply With Quote
Old 04-23-2011, 05:28 PM   #6
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
 
Join Date: Oct 2004
Posts: 1,719
Quote:
Originally Posted by Calgary_Girl View Post
Congratulations! We also crossed the $1 million mark between our retirement and taxable accounts and are approximately the same age (DH is 41, I'm 38).

However, I DON'T include the kids' RESP's (similar to 529) in the calculation but I do include our emergency fund.

I wonder how long it'll take to get to $1.5 million?
Seems like crossing the $1MM threshold occurs sometime in one's 40s, while crossing the $2MM occurs in one's late-40s or early-50s. ER'ing does put a stop to rapid acceleration, but compounding of seven figures will eventually take on a life of its own.
__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
Jay_Gatsby is offline   Reply With Quote
Old 04-23-2011, 09:44 PM   #7
Full time employment: Posting here.
 
Join Date: Dec 2010
Location: Southern California
Posts: 916
Quote:
Originally Posted by Calgary_Girl View Post
Congratulations! We also crossed the $1 million mark between our retirement and taxable accounts and are approximately the same age (DH is 41, I'm 38).

However, I DON'T include the kids' RESP's (similar to 529) in the calculation but I do include our emergency fund.

I wonder how long it'll take to get to $1.5 million?
Congrats to u 2 Calgary Girl. Invested net worth can be viewed many ways. I didn't include emergency funds as I won't "invest" the $$, it's parked in MM/online savings/CDs. Perhaps I view 529 differently, as it is invested in the market and it's still a choice... if my kids attend college or not. Also, loans might be an option.. free ride issue w/kids.

$1.5M net worth might be reached at the end of the year when I include real estate investments without primary residence.
__________________
Aiming_4_55 is offline   Reply With Quote
Old 04-23-2011, 09:45 PM   #8
Full time employment: Posting here.
 
Join Date: Dec 2010
Location: Southern California
Posts: 916
Quote:
Originally Posted by Moemg View Post
Congratulations to both of you that is great !
Thanks Moemg.
__________________
Aiming_4_55 is offline   Reply With Quote
Old 04-24-2011, 04:07 PM   #9
Thinks s/he gets paid by the post
 
Join Date: Nov 2009
Posts: 3,871
Congrats, Aiming_4_55. I first crossed the $1M mark about one year ago, just before the market took a tumble last May. I did not get back to $1M again until September and am now nearing $1.1M (not including my apartment which is worth around $100k).

As Jay_Gatsby wrote, ERing slows down one's $$ growth but simple compounding can make up for it.
__________________
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 04-24-2011, 06:05 PM   #10
Full time employment: Posting here.
 
Join Date: Dec 2010
Location: Southern California
Posts: 916
Quote:
Originally Posted by scrabbler1 View Post
Congrats, Aiming_4_55. I first crossed the $1M mark about one year ago, just before the market took a tumble last May. I did not get back to $1M again until September and am now nearing $1.1M (not including my apartment which is worth around $100k).

As Jay_Gatsby wrote, ERing slows down one's $$ growth but simple compounding can make up for it.
Thanks Scrabbler and congrats to you 2. I'm hope compounding is my friend and no emergencies cause any unexpected withdraws.
__________________
Aiming_4_55 is offline   Reply With Quote
Old 04-24-2011, 07:18 PM   #11
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
 
Join Date: Oct 2004
Posts: 1,719
Quote:
Originally Posted by Aiming_4_55 View Post
Thanks Scrabbler and congrats to you 2. I'm hope compounding is my friend and no emergencies cause any unexpected withdraws.
Compounding is your friend, but is by no means consistent. This is why I believe that true FI occurs not when your passive income meets your expenses, but rather when it reaches at least 150% of your expenses. This gives you the cushion to continue DCA'ing into the market or taking advantage of significant dips in the market. This also allows you to splurge occasionally or cover unforeseen major expenses in retirement.
__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
Jay_Gatsby is offline   Reply With Quote
Old 04-24-2011, 08:00 PM   #12
Full time employment: Posting here.
 
Join Date: Dec 2010
Location: Southern California
Posts: 916
Quote:
Originally Posted by Jay_Gatsby View Post
Compounding is your friend, but is by no means consistent. This is why I believe that true FI occurs not when your passive income meets your expenses, but rather when it reaches at least 150% of your expenses. This gives you the cushion to continue DCA'ing into the market or taking advantage of significant dips in the market. This also allows you to splurge occasionally or cover unforeseen major expenses in retirement.
So would you recommend increasing "Spending" in FIRECalc to 150% and 100% success to be considered FI? I've played with spend of 125% of budget/taxes and no small pension & SS scenarios, but it's getting to the point of 200% of estimated retired spend with conservative scenarios! I still have a good 6 - 8 years before I'm seriously considering semi-early retirement or anything else which is earlier than I thought before joining the forum. Just have to stay the course and live below my means.
__________________
Aiming_4_55 is offline   Reply With Quote
Old 04-24-2011, 11:50 PM   #13
Thinks s/he gets paid by the post
 
Join Date: Nov 2009
Posts: 3,871
I agree with the concept of building in a cushion or surplus into one's ER budget. I have done that because I expect to run some deficits in the years just before I can begin tapping into what I call "reinforcements" which are: (1) Tapping into my IRA, (2) Collecting SS, and (3) Collecting my frozen pension.

Having a surplus built into one's ER budget also allows for some unforeseen expenses without worrying about them busting a budget. My surplus now is nearly 50% of my expenses but will actually increase because I just changed to a less expensive individual HI policy.
__________________
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 05-10-2011, 01:37 PM   #14
Thinks s/he gets paid by the post
 
Join Date: Aug 2005
Posts: 2,056
Congratulations to our newly-minted millionaires!

I had a birthday in April as well, turned 41 on April 2. Also hit a new financial milestone, $675K. Still a bit of a ways from $1M, but I'm getting there!
__________________
Andre1969 is offline   Reply With Quote
Old 05-10-2011, 02:02 PM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2007
Posts: 5,072
Congrats.

Many have crossed those milestones multiple times... to their delight and dismay... depending on the temperament of the market.
__________________
chinaco is offline   Reply With Quote
Old 05-10-2011, 02:12 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,287
Quote:
Originally Posted by Jay_Gatsby View Post
Seems like crossing the $1MM threshold occurs sometime in one's 40s, while crossing the $2MM occurs in one's late-40s or early-50s. ER'ing does put a stop to rapid acceleration, but compounding of seven figures will eventually take on a life of its own.
I guess I am slow on this.... I did cross the $1 mill in my 40s... but then went under it a couple of years ago... then crossed it again recently... but not close to the $2 number even though early 50s... guess getting married with 2 kids has slowed the savings down a LOT.. (it has... more than I had anticipated)...

I figure that I will get there before 60 for sure... but think I need $2.5 to jump ship.... we will see...


To the OP... Congrats!!!! It is a great milestone to reach...
__________________
Texas Proud is offline   Reply With Quote
Old 05-10-2011, 03:00 PM   #17
Full time employment: Posting here.
 
Join Date: Dec 2010
Location: Southern California
Posts: 916
Quote:
Originally Posted by Andre1969 View Post
Congratulations to our newly-minted millionaires!

I had a birthday in April as well, turned 41 on April 2. Also hit a new financial milestone, $675K. Still a bit of a ways from $1M, but I'm getting there!

Thanks Andre... hmmm u turned 41, but what is 1969 in your nick as I was born in 1969 and 42? Congrats to u on your milestone, it's a great feeling.
__________________
Aiming_4_55 is offline   Reply With Quote
Old 05-10-2011, 03:04 PM   #18
Full time employment: Posting here.
 
Join Date: Dec 2010
Location: Southern California
Posts: 916
Quote:
Originally Posted by chinaco View Post
Congrats.

Many have crossed those milestones multiple times... to their delight and dismay... depending on the temperament of the market.

Thanks Chinaco. My invested stockmarket holding might actually fall way below by 100k if I buy another rental property that I'm eyeing. If I do, it'll have a target of 10% return on cashflow. =)
__________________
Aiming_4_55 is offline   Reply With Quote
Old 05-10-2011, 03:09 PM   #19
Full time employment: Posting here.
 
Join Date: Dec 2010
Location: Southern California
Posts: 916
Quote:
Originally Posted by Texas Proud View Post
I guess I am slow on this.... I did cross the $1 mill in my 40s... but then went under it a couple of years ago... then crossed it again recently... but not close to the $2 number even though early 50s... guess getting married with 2 kids has slowed the savings down a LOT.. (it has... more than I had anticipated)...

I figure that I will get there before 60 for sure... but think I need $2.5 to jump ship.... we will see...


To the OP... Congrats!!!! It is a great milestone to reach...
Thanks Texas Proud. I potentially see my expenses going up as I have 2 little kids too, but my DW asked the other day if she should seek part time employment so that might balance out. I like the idea of DW working outside of the house as I would leverage her 401k/403b contribution and potential part time work offering healthcare benefits for future option if I leave megacrap behind. Plans are made to be changed!
__________________
Aiming_4_55 is offline   Reply With Quote
Old 05-10-2011, 03:48 PM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,287
Quote:
Originally Posted by Aiming_4_55 View Post
Thanks Texas Proud. I potentially see my expenses going up as I have 2 little kids too, but my DW asked the other day if she should seek part time employment so that might balance out. I like the idea of DW working outside of the house as I would leverage her 401k/403b contribution and potential part time work offering healthcare benefits for future option if I leave megacrap behind. Plans are made to be changed!

Good to see that she is willing to help in the savings... mine is also.. she is working on getting her teacher certificate and going to work... I see this as a big plus for medical etc. and as you say putting more away in tax advantaged accounts..

I do have to say that having the kids are a blessing that I will gladly work a few extra years so we can have a good lifestyle... and to send to college... lucky for me I do not hate my work....
__________________

__________________
Texas Proud is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
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


Similar Threads
Thread Thread Starter Forum Replies Last Post
Hit a Milestone chinaco FIRE and Money 31 12-21-2009 10:39 AM
Another economic hit... REWahoo Other topics 31 08-27-2009 11:22 PM
Lock in electric rates or continue month-to-month? soupcxan FIRE and Money 47 08-02-2008 11:25 PM
I just hit $200K rw86347 Young Dreamers 10 07-12-2007 08:10 AM

 

 
All times are GMT -6. The time now is 10:14 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.