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Old 07-12-2016, 01:45 AM   #41
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Anyhow I realized I had forgotten about some old pensions and quickly figured out their cash value and realized we had hit a million NW. Now that's combined and including the ~$200k in equity in our primary residence, which I know many don't count, but it was the first really big milestone I had set for ourselves. And you know what? It wasn't the cork-popping, celebratory moment I had dreamed of so long ago. It was like Voyager leaving the solar system, I knew I'd cross the line back and forth for a while, and I realized a million bucks wasn't as much as it used to be. Hopefully FIRE will be more exciting. Anyone else feel that "millionaire next door" moment was anti-climactic?

At least my wife is still only 40 (I turn 42 next month) so she can say, "million by 40".
Congrats! Hitting a milestone is always cool.

For us, hitting $1M including the house was kind of cool yet meh because home prices in Vancouver have been so ridiculous. We're happy we have a paid off roof over our head in this crazy market but it doesn't feel tangible from a wealth perspective for us.

Hitting our various milestones, gives us a sense of comfort that we're on track. But unless the milestone really impacts our lives, they just end up being numbers in a spreadsheet for us. eg Something like paying off the mortgage was really cool because we felt the additional free cash flow and accelerated savings.
It's reassuring to see the numbers grow but I don't think I'll get really euphoric until I hit the particular milestone that I'm wanting to achieve to trigger my retirement notice.
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Old 07-12-2016, 07:12 AM   #42
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Congrats! Hitting a milestone is always cool.

For us, hitting $1M including the house was kind of cool yet meh because home prices in Vancouver have been so ridiculous. We're happy we have a paid off roof over our head in this crazy market but it doesn't feel tangible from a wealth perspective for us.

Hitting our various milestones, gives us a sense of comfort that we're on track. But unless the milestone really impacts our lives, they just end up being numbers in a spreadsheet for us. eg Something like paying off the mortgage was really cool because we felt the additional free cash flow and accelerated savings.
It's reassuring to see the numbers grow but I don't think I'll get really euphoric until I hit the particular milestone that I'm wanting to achieve to trigger my retirement notice.
This - except San Diego vs Vancouver. Home prices are so outrageous that I'd rather not consider my primary residence value in my retirement nest egg.... but once the house was paid off - the cash flow improved dramatically - making ER possible sooner. (Lower spend rate, higher savings rate.)
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Old 07-12-2016, 11:10 PM   #43
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We crossed the $1M net worth threshold today at age 32 (including paid off house) and celebrated by dressing up like cows for free Chick-Fil-A. The day I paid off all debt had more emotional significance. While this particular milestone was not a major cause for celebration, almost everyday DW and I reflect on how fortunate we are to not have money related stress in our marriage and that I was able to recently take a lower paying job closer to home, eliminating a ridiculous commute.


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Old 07-13-2016, 07:47 PM   #44
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We crossed the $1M net worth threshold today at age 32 (including paid off house) and celebrated by dressing up like cows for free Chick-Fil-A. The day I paid off all debt had more emotional significance. While this particular milestone was not a major cause for celebration, almost everyday DW and I reflect on how fortunate we are to not have money related stress in our marriage and that I was able to recently take a lower paying job closer to home, eliminating a ridiculous commute.


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That's incredible. Congratulations! You should have dressed as unicorns :-)
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Old 07-13-2016, 08:05 PM   #45
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To the OP, congrats! When we hit the $1M net worth at age 48 we mildly celebrated by going out to a somewhat fancy dinner. Of course, we both laughed about it, as we expected, due to the market, that we would cross back and forth over that line several times.

That was 10 years ago. Seven years after than, even with the market meltdown 0f 2007-2008 we made it to $2M net worth. $1M was nice, $2M makes us feel comfortable . So best of luck to you as you make it to the next million!
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Old 07-21-2016, 11:53 AM   #46
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Anyone else feel that "millionaire next door" moment was anti-climactic?
Yeah, that was pretty much the case with us when it happened a couple months ago. We knew it was coming up soon, so the surprise factor wasn't there. It was slightly novel to see the account statements show $1,000,XXX, but at the end of the day it was not such a difference from the $9XX,XXX we were used to seeing over the last couple years.

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At least my wife is still only 40 (I turn 42 next month) so she can say, "million by 40".
We hit the milestone a few days before I turned 40, and I did walk around thinking "million by 40!" for a few days. But yeah -- 'meh' is right. I'm a lot more interested in how/when the next million will come.
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Old 07-21-2016, 12:18 PM   #47
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So I was on a walk the other night and one of the things I do is calculate account balances and sum up the ol' net worth, calculate when it will double between growth and contributions, etc. It probably makes me a freak but it's meditative in a way.

Anyhow I realized I had forgotten about some old pensions and quickly figured out their cash value and realized we had hit a million NW. Now that's combined and including the ~$200k in equity in our primary residence, which I know many don't count, but it was the first really big milestone I had set for ourselves. And you know what? It wasn't the cork-popping, celebratory moment I had dreamed of so long ago. It was like Voyager leaving the solar system, I knew I'd cross the line back and forth for a while, and I realized a million bucks wasn't as much as it used to be. Hopefully FIRE will be more exciting. Anyone else feel that "millionaire next door" moment was anti-climactic?

At least my wife is still only 40 (I turn 42 next month) so she can say, "million by 40".
Congratulations, laurence!

Next goal could be $1,000,000 invested, with no debt at all. I'll bet that one is much more exciting to you.
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Old 07-21-2016, 10:04 PM   #48
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My boyfriend and I passed $1 million in savings a year or two ago, and it was exciting to me, but not nearly as exciting as paying off my student loans next month! No more debt (other than a small mortgage on an investment property)! My boyfriend never gets excited about our savings...or much of anything for that matter.
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Old 07-22-2016, 05:36 AM   #49
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My boyfriend and I passed $1 million in savings a year or two ago, and it was exciting to me, but not nearly as exciting as paying off my student loans next month! No more debt (other than a small mortgage on an investment property)! My boyfriend never gets excited about our savings...or much of anything for that matter.
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Old 07-22-2016, 08:25 AM   #50
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Reaching one million is a great milestone! But net worth goals become a moving target as inflation and lifestyle realities kick in. The first million is the hardest to achieve, with the second being easier. We just did a net worth calculation this month as were very pleasantly surprised at where we stand now at age 60. Our NW has tripled in three years mostly to some good stock options DW had had from her employer. But keeping diversified helped to since her company stock has not had a good year.


Enjoying life!
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Old 07-22-2016, 08:39 AM   #51
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Will celebrate again when we hit eight figures. We get enticingly close when markets hit these highs, but that won't last
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Old 07-23-2016, 03:17 PM   #52
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Will celebrate again when we hit eight figures. We get enticingly close when markets hit these highs, but that won't last
Wow! That's a milestone we'll never see! Congrats on that! I see our NW topping out at ~$5 million.
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Old 07-23-2016, 05:29 PM   #53
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Will celebrate again when we hit eight figures. We get enticingly close when markets hit these highs, but that won't last
That's a party that they may have to throw for me in the nursing home. Once all the mortgages are paid off and if we get reasonable appreciation on the real estate and some growth in the market it might happen.
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Old 07-23-2016, 08:55 PM   #54
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Will celebrate again when we hit eight figures. We get enticingly close when markets hit these highs, but that won't last

I'm 50 and the savings calculator shows I will hit this, if I only work until 70. LOL! No dice.
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Old 07-23-2016, 09:25 PM   #55
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I'm 50 and the savings calculator shows I will hit this, if I only work until 70. LOL! No dice.
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Old 07-24-2016, 06:27 AM   #56
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I guess I have never looked at it from a NW standpoint. If I do, then I am really close to the $1MM mark, depending on who I believe on my home value. I have just looked at my $ value as cash and retirement savings.

I like this view better , although I'm not sure it changes my timing any.
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Old 07-24-2016, 06:45 AM   #57
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I remember when my earning assets hit a million. Late 40's as I recall. Each year inflation makes this number less significant I think.
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Old 07-24-2016, 09:48 AM   #58
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I remember when my earning assets hit a million. Late 40's as I recall. Each year inflation makes this number less significant I think.
Yeah, if you are spending more and more money each year. Strangely, that is not happening to me. I don't know why.
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Old 07-24-2016, 12:00 PM   #59
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I really do not recall when we first passed into millionaire territory, but I do recall DW being very excited about the situation and going on and on about being a millionaire. I had to remind her that, since there are two of us, that she was only half-millionaire and would have to wait until our investable assets arrived at the two million level for each of us to accurately be called millionaire. After this all settled in, she became suddenly very interested at viewing our quarterly Vanguard statements as she plotted her way to our new goal.


We have since passed that new barrier and realize that it is no big deal that each of us have arrived at that magical, mythical millionaire refined air. But it sure is good to sleep well.
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Old 07-24-2016, 12:06 PM   #60
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We were well above $1 million when we retired in 2002 and then had a windfall when my older single brother passed in 2009. So we have a buffer now that we will never likely encroach on.

We are trying to increase our annual spend but it is tough after 14 years.
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