A milestone, for now, anyway...

kaudrey · 04-30-2007, 02:56 PM

People sometimes post milestones here, and I hit a big one last week, although I know it could be temporary if/when the market drops next. I know the number is meaningless, but I'm excited about it anyway...

Investment assets (401(k), IRA, and taxable accounts), surpassed $500K on Thursday for the first time.

I'm 38, single (for now

) and planning to FIRE around age 52.

Karen - loves this forum!

Sam · 04-30-2007, 03:27 PM

Congratulations. That's a very respectable number for a 38yo single. Hopefully you'll reach FI much earlier than planned.

I reach a milestone with this post too. This is the 1,000th one!

SecondCor521 · 04-30-2007, 03:29 PM

Karen,

Congratulations!

2Cor521

xmanz3 · 04-30-2007, 03:35 PM

Congrats Karen!

All the way up, the sky is the limit!

runchman · 04-30-2007, 03:52 PM

Excellent, always nice to hear another celebrating a milestone!

- John

Outtahere · 04-30-2007, 04:42 PM

Congratulations!! You're well on your way to FI.

SLC Tortfeasor · 04-30-2007, 04:45 PM

Way to go!! You'll be at $1 million before you know it!

crazy connie · 04-30-2007, 04:49 PM

Cangrats Karen! Now, is the plan to go at a specific (I know you have indicated 52) age, dollar amount or just when it feels right?

Celany · 04-30-2007, 05:04 PM

wowee, congrats! how totally awesome!

hearing things like that just makes me more determined to do well for myself - knowing that it can be done!

simple girl · 04-30-2007, 06:55 PM

Congrats!!!!

We just crossed the same milestone last month. Woo-hoo! Isn't it fun to count your money? LOL

kaudrey · 05-01-2007, 07:14 AM

Quote:

Originally Posted by crazy connie

Cangrats Karen! Now, is the plan to go at a specific (I know you have indicated 52) age, dollar amount or just when it feels right?

Thanks everyone! I've just started realizing that my NW is rising much more because of my portfolio than my savings; although that's been true for several years, I never really thought about it much.

My plan (52) is kind of random but made up of several components:

1) At 51, I'll hit 30 years with the federal government which will allow me to start collecting my full pension at age 57 (otherwise I'd have to wait until I hit 60). Really, I could go at 51 and 3 months.

2) My parents retired at 57, and being the competitive person that I am, I wanted to beat them, and 5 years seemed like a nice round number.

3) I don't have a set $ number in mind, but I have a spreadsheet with all kinds of scenarios that makes me feel comfortable that what I will likely have by my early 50s will ensure that I don't run out of money until I'm 100. I can live with that. (And Firecalc supports my spreadsheet's conclusions).

Thanks for the support everyone!

Karen

bow-tie · 05-01-2007, 11:42 AM

Wow... saving solo and hitting 500k already. That rules. Well done.

At this rate, by the time you are ready to retire, your pension and savings should put you in a great position.

kaudrey · 05-01-2007, 12:12 PM

Thanks bow-tie. We won't talk about the money I paid out to make my ex-husband shut up and go away during my divorce 7 years ago.

I thank my parents for teaching me how to save money, and also for giving me the education and smarts that have lead to me being able to get a pretty high paying job (at least as far as the gov't goes).

DangerMouse · 05-01-2007, 06:48 PM

Karen

Congrats on reaching this milestone and moving one step closer to FIRE.

Mwsinron · 05-01-2007, 07:04 PM

Way to go! Anything closer to FIRE is great in my book.

DRiP Guy · 05-01-2007, 07:15 PM

Terrific!

PPT · 05-01-2007, 07:46 PM

Way to go!!!!!!!

Linney · 05-02-2007, 03:13 AM

Quote:

Originally Posted by kaudrey

Thanks bow-tie. We won't talk about the money I paid out to make my ex-husband shut up and go away during my divorce 7 years ago.

Well... I was about to post that I might have been able to save more but I had to give up half of everything (including retirement funds) to my ex husband

You too? Wow, you've really done great! I've recently reached the same milestone but I'm 46.

JustCurious · 05-02-2007, 06:43 AM

Quote:

Originally Posted by Linney

Well... I was about to post that I might have been able to save more but I had to give up half of everything (including retirement funds) to my ex husband

You too? Wow, you've really done great! I've recently reached the same milestone but I'm 46.

Linney, you are entitled to an offset for the amount of HIS retirement savings. Did he not have any??

Linney · 05-03-2007, 02:23 AM

Quote:

Originally Posted by JustCurious

Linney, you are entitled to an offset for the amount of HIS retirement savings. Did he not have any??

We were in a community property state so in truth it doesn't matter who ends up with which asset as long as the split is done 50-50. I kept all of the retirement savings (they were in my name) so he got to keep a much larger amount of the cash from our house. I made my comment about having to give up 1/2 of everything because I was the saver and he was the spender.

My ex took his share of the money and bought a boat. I took mine and bought an economy-class ticket for the journey to FIRE

04-30-2007, 02:56 PM	#1
kaudrey Recycles dryer sheets Join Date: Feb 2006 Location: Alexandria, Va Posts: 499	A milestone, for now, anyway... People sometimes post milestones here, and I hit a big one last week, although I know it could be temporary if/when the market drops next. I know the number is meaningless, but I'm excited about it anyway... Investment assets (401(k), IRA, and taxable accounts), surpassed $500K on Thursday for the first time. I'm 38, single (for now ) and planning to FIRE around age 52. Karen - loves this forum! __________________ Two roads diverged in a wood, and I - I took the one less travelled by...

04-30-2007, 03:27 PM	#2
Sam Thinks s/he gets paid by the post Join Date: Mar 2006 Posts: 1,743	Re: A milestone, for now, anyway... Congratulations. That's a very respectable number for a 38yo single. Hopefully you'll reach FI much earlier than planned. I reach a milestone with this post too. This is the 1,000th one!

04-30-2007, 03:29 PM	#3
SecondCor521 Thinks s/he gets paid by the post Join Date: Jun 2006 Location: Boise Posts: 1,277	Re: A milestone, for now, anyway... Karen, Congratulations! 2Cor521 __________________ "At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.

04-30-2007, 03:35 PM	#4
xmanz3 Recycles dryer sheets Join Date: Mar 2006 Posts: 97	Re: A milestone, for now, anyway... Congrats Karen! All the way up, the sky is the limit!

04-30-2007, 03:52 PM	#5
runchman Recycles dryer sheets Join Date: Jun 2005 Posts: 282	Re: A milestone, for now, anyway... Excellent, always nice to hear another celebrating a milestone! - John

04-30-2007, 04:42 PM	#6
Outtahere Thinks s/he gets paid by the post Join Date: Sep 2005 Posts: 1,676	Re: A milestone, for now, anyway... Congratulations!! You're well on your way to FI. __________________ Dogs aren't our whole lives, but they make our lives whole. - Roger Caras

04-30-2007, 04:45 PM	#7
SLC Tortfeasor Recycles dryer sheets Join Date: Jun 2005 Posts: 213	Re: A milestone, for now, anyway... Way to go!! You'll be at $1 million before you know it!

04-30-2007, 04:49 PM	#8
crazy connie Full time employment: Posting here. Join Date: Feb 2006 Posts: 631	Re: A milestone, for now, anyway... Cangrats Karen! Now, is the plan to go at a specific (I know you have indicated 52) age, dollar amount or just when it feels right?

04-30-2007, 05:04 PM	#9
Celany Recycles dryer sheets Join Date: Feb 2007 Posts: 89	Re: A milestone, for now, anyway... wowee, congrats! how totally awesome! hearing things like that just makes me more determined to do well for myself - knowing that it can be done!

04-30-2007, 06:55 PM	#10
simple girl Full time employment: Posting here. Join Date: Sep 2006 Location: mississippi Posts: 594	Re: A milestone, for now, anyway... Congrats!!!! We just crossed the same milestone last month. Woo-hoo! Isn't it fun to count your money? LOL __________________ simple girl less stuff, more time (40, married, no kids, work part-time, DH full-time. Hoping to both semiretire in 5 years...)

05-01-2007, 11:42 AM	#12
bow-tie Full time employment: Posting here. Join Date: Mar 2004 Posts: 611	Re: A milestone, for now, anyway... Wow... saving solo and hitting 500k already. That rules. Well done. At this rate, by the time you are ready to retire, your pension and savings should put you in a great position. __________________ Diggin' my way to financial freedom, one buck-at-a-time

05-01-2007, 12:12 PM	#13
kaudrey Recycles dryer sheets Join Date: Feb 2006 Location: Alexandria, Va Posts: 499	Re: A milestone, for now, anyway... Thanks bow-tie. We won't talk about the money I paid out to make my ex-husband shut up and go away during my divorce 7 years ago. I thank my parents for teaching me how to save money, and also for giving me the education and smarts that have lead to me being able to get a pretty high paying job (at least as far as the gov't goes). __________________ Two roads diverged in a wood, and I - I took the one less travelled by...

05-01-2007, 06:48 PM	#14
DangerMouse Full time employment: Posting here. Join Date: Jan 2007 Location: So. Cal. Posts: 528	Re: A milestone, for now, anyway... Karen Congrats on reaching this milestone and moving one step closer to FIRE. __________________ I be a girl, he's a boy. Semi-FIRED July 08. Mid 40s, no kidlets.

05-01-2007, 07:04 PM	#15
Mwsinron Full time employment: Posting here. Join Date: Jun 2006 Posts: 718	Re: A milestone, for now, anyway... Way to go! Anything closer to FIRE is great in my book.

05-01-2007, 07:15 PM	#16
DRiP Guy Full time employment: Posting here. Join Date: Nov 2006 Posts: 506	Re: A milestone, for now, anyway... Terrific!

05-01-2007, 07:46 PM	#17
PPT Dryer sheet aficionado Join Date: Apr 2007 Posts: 43	Re: A milestone, for now, anyway... Way to go!!!!!!!

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