Milestone Monday

[BigBangWeary]

Well, I have been itching to post for a few months now, but Mr. Market took us under for a short time. Anyways, we are now officially over the $500,000 hurdle. Half a million. Yaaay!

We are 31 and 34. Still lost about what to do in life (see previous posts) and now have a beautiful bouncing boy that has been added to the mix, so things continue to change.

Not sure if we will hit the 1 million mark before 40. That was our goal, but I think our priorities are changing.

The $500,000 is not subject to any future taxes so I think that helps. Hoping we are on track.

Keep your eye on the prize everyone.

 

[Texas Proud]

Well, congratulations!!! For the bouncing boy first and the money second...

Just curious, you have $500K in cash and no cap gains Does not sound right...

 

[BigBangWeary]

Thanks Texas Proud. We are in a tax-free country and are invested as non-residents in tax free accounts. The rest is in the form of after-service indemnities (again not subject to tax) and a small amount in cash.

 

[2035]

Way to go!!!


Sent from my iPhone using Early Retirement Forum

 

[Texas Proud]

Thanks Texas Proud. We are in a tax-free country and are invested as non-residents in tax free accounts. The rest is in the form of after-service indemnities (again not subject to tax) and a small amount in cash.

OK, makes sense.... I am one who does not look at people's profile so I do not know where you are located...

Is the cost of living low If so, then you are probably well on your way to FIRE...

 

[MichaelB]

Still lost about what to do in life (see previous posts) and now have a beautiful bouncing boy that has been added to the mix, so things continue to change.

Congratulations on the boy. You may still be lost about life, but it won't matter so much now, and besides, you also won't have much time to yourself to think about it.

 

[NgineER]

Well, I have been itching to post for a few months now, but Mr. Market took us under for a short time. Anyways, we are now officially over the $500,000 hurdle. Half a million. Yaaay!

We are 31 and 34. Still lost about what to do in life (see previous posts) and now have a beautiful bouncing boy that has been added to the mix, so things continue to change.

Not sure if we will hit the 1 million mark before 40. That was our goal, but I think our priorities are changing.

Congratulations on the milestones!

The rule of 72... Divide 72 by your time frame for doubling your assets and you'll find your required annual return

8%-->9 years 8*9=72
7.2% -->10 years 7.2*10=72
6 years --> 12% 12*6=72

Not impossible to hit your number by 40 if you can contribute the difference between actual annual return and 12% (or 8% if you count your partners age...)

 

[kimcdougc]

Congratulations! Also, you can start thinking about yourself again in about 20 years. The kids are totally worth it....most days! Enjoy.

 

[iam21177]

Keep up the good work!