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Major Milestone Achieved - Sort of
Old 03-30-2010, 10:03 AM   #1
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Major Milestone Achieved - Sort of

I was doing my net worth calculation over the weekend and found a nice surprise. For the first time in my life, I saw 2 commas in the final number. I don't know exactly when it happened, but I tend to update my spreadsheet every 2 months or so with the last time being on January 15th. My best guess is that we hit the million mark sometime around the first of March.

Now to be perfectly fair, I calculate net worth 2 different ways and this particular milestone was achieved using home equity (about 160k), cars (30k) and personal property (20k). Even with that taken into account, it was nice to see that I have investments worth over 800k and hopefully, it will be a short run to get those into the 2 comma zone as well.

It is little surprises like these that make all the saving worth it. I was really motivated to find even more areas to save, although it is getting tougher with 3 kids ages 5 and under. Thanks to everyone on this forum for indirectly inspiring the DW and I to get to this milestone. I am thankful to find a group of like minded thinkers.
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Old 03-30-2010, 10:56 AM   #2
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That's a great achievement for someone your age! Good job!
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Old 03-30-2010, 11:23 AM   #3
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Amazing savings and with three kids to boot. You're on your way...
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Old 03-30-2010, 11:24 AM   #4
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WEll done, though it must be too early in the morning for me as my brain thought you were saying you had $10m.
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Old 03-30-2010, 11:35 AM   #5
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Three kids under the age of 5 and you have $800K in investable assets? I bow to you. That's wonderful.
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Old 03-30-2010, 06:02 PM   #6
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Surprises like that are nice, aren't they? I got a similar one last January, and also have young kids. Smaller number than you, but still a nice one. Felt good.

I like your idea of figuring networth both with and without home equite. I do the same. But I exclude vehicle value and other possessions as part of the equation. Just investments with and without home equity in the equation. I'm such a tightwad that I figure vehicles and other assets will be totally depreciated before I part with them.

Good job!
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Old 03-30-2010, 09:26 PM   #7
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What do you mean, sort of?
A million is a million, according to GAAP.
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Old 03-30-2010, 09:31 PM   #8
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Great achievement Chisaver - well done.
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Old 04-05-2010, 04:51 PM   #9
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Well done! I am hoping to learn more inveestment strategies so I can get there too! Thanks for the inspiration!
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Old 02-28-2011, 10:08 PM   #10
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Just updated my net worth spreadsheet and had to smile. I actually hit 1M in investable assets. Actually I was only 700 bucks over, so I'm glad the market didn't go down today . I found it interesting that this was almost exactly one year to the day that I posted the original message. Thanks again to everyone on this board for keeping me motivated.
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Old 02-28-2011, 10:11 PM   #11
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Great J*b!
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Old 03-01-2011, 03:42 AM   #12
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how did you grow 800k by an additional 200k in 1 year?
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Old 03-01-2011, 07:47 AM   #13
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I don't know if this will happen with you, ChiSaver, but when I first topped the $1M mark in investable assets last April it was a bit of a roller-coaster ride above and below the cherished mark, dropping below $1M last May and not getting back above it again until September. I have not hit the $1.1M mark yet but have been getting close to it and have stayed above $1.05M for a few months. [Being ERed means I depend pretty much on the assets' value and don't add anything from the outside.]
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Old 03-01-2011, 02:02 PM   #14
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Fantasm: Good question. My wife and I are both lucky to have great paying jobs. While we end up having to pay a boatload in child care, we were able to put away about 140k (401k's, Taxable, 529's, etc) last year and will up that this year. Also the market was able to increase it another 50k or so. We are invested roughly 80/20 at the time and plan to keep that allocation for another 10-15 years before paring down our stock position.

We ended up making 3 substantial financial moves this year. Both my wife and I took new jobs that we both enjoy substantially more than our previuos ones. We also refinanced our mortgage to a 10 year 3.75% fixed that should be taken care of by the time we consider ER.
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Old 03-04-2011, 02:10 AM   #15
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Quote:
Originally Posted by ChiSaver View Post
It is little surprises like these that make all the saving worth it. I was really motivated to find even more areas to save... .
You are doing great! Keep looking, you will find them.
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Old 03-04-2011, 02:54 AM   #16
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Well done Chisaver.
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Old 03-04-2011, 05:09 AM   #17
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Congrats, hitting 7 figures is truly a milestone, and one that evidently many people never reach. Keep it up...
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Old 03-04-2011, 10:59 AM   #18
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Congratulations! DW and I hit that mark a few years ago, but strangely enough we didn't even notice it until a year after it happened. We're rapidly approaching another milestone this year.

Btw, I don't really count 529s or other assets we're saving for our kids. While we're managing them, they don't really belong to us anymore.
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Old 03-04-2011, 11:04 AM   #19
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Do the numbers to the right of the decimal count?
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Old 04-15-2011, 05:42 AM   #20
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Excellent job. I hope to join the club w/i three years. I agree with the other poster--I wouldn't count 529s as part of that total. And I wouldn't include house and cars. But regardless, you've done very well.
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