Share Your FIRE Milestones - 2021

[street]

To us, its not something that we will ever touch (meaning sell or borrow against.) For now, we will live in in at least another 30 years if not forever. Since we will never put our house up as collateral, our home will never pay our bills, it'll never feed us or pay for vacations. Our investments will.

For retirement planning, including our house in our NW is meaningless. We are only interested in knowing how much our funds that we plan on living off of are worth. Since our home does not generate $$, its not included.

I know including home is a touchy subject. Different strokes for different folks. In my eyes, it pads people's numbers. If our house generated income, we would include it. If we had rentals, they would also be included.

I really do agree with that thinking. I don't use my home, ranch, earthy items in any way shape of form for my retirement planning. I know they are worth a value but I don't count it, and it would be only a guess what value those items would be.

 

[Markola]

The equity part of your house is asset so why wouldn’t you include that?

I do. I view our eventual downsizing as a future liquidity event, no different than Social Security coming online many years out, and a financial tool to use intelligently.

Someday, we’ll no longer want the yard work and stairs, then we’ll have the opportunity to sell and take some chips off the table. At long term, historic growth rates in this neighborhood, our house should be worth $1.1 million when I’m 72ish. My parents downsized about that age. Selling then or later is what DW and I both say we want to do, so it’s part of the general plan and not a sad thought.

We see beautiful historic condos around here we’d love to live in at about half the price of our home, and I figure that ratio will hold over the long term. If we pocket and invest just $200,000 conservatively from that sale and use the balance to buy a condo for cash, it has a meaningful impact on our portfolio success projections in Personal Capital’s Retirement Planner, so it seems a mistake to me to ignore the asset. YMMV.

 

[street]

Milestones are being broken all the time these days. Always happy for everyone and there new highs what an exiting times we are in.

I just did a little number checking for the fun of it. This has been the best first 6 months (half year) of gains since I retired 5 years ago. From a Jan. 1st to July 1st of 2021 is a new high for me.

 

[Scout]

Milestones are being broken all the time these days. Always happy for everyone and there new highs what an exiting times we are in.

I just did a little number checking for the fun of it. This has been the best first 6 months (half year) of gains since I retired 5 years ago. From a Jan. 1st to July 1st of 2021 is a new high for me.

July 1st is a new high 5 years after retiring?! Congrats Street! You killed it.

 

[HenryD]

Not a financial one, but a milestone nonetheless. For the first time in my life, I just turned down an offer of a lucrative, but stressful, multi-year contract with a previous client. Mainly because I am too close to retirement to commit to seeing it through to the explicitly required end. I was upfront and told him why. Wow, that felt good.

 

[Backpacker]

Not really my milestone but my son and his wife recently became debt free including house and about 100k in student loans! He made final payment just before his 27th birthday. He has really listened to his old man, lol. I've long preached to all 5 kids the LBYM lifestyle. 3/5 paid decent attention

 

[DangerDad]

I do. I view our eventual downsizing as a future liquidity event, no different than Social Security coming online many years out, and a financial tool to use intelligently.
YMMV.

+1
I agree in considering home equity as part of our NW. It’s not particularly liquid but we do plan to downsize eventually and the value of our current home will be very meaningful at that time.

Cheers,
DangerDad

 

[novaman]

Over the weekend my net worth went into 8 figures for the first time. I never imagined that I would be this wealthy.

 

[street]

^ that is awesome!!

 

[Extra Medium]

Over the weekend my net worth went into 8 figures for the first time. I never imagined that I would be this wealthy.

Congratulations!

 

[F.I.R.E User]

Over the weekend my net worth went into 8 figures for the first time. I never imagined that I would be this wealthy.

$10M?

 

[BlueberryPie]

That's what 8-figures means, and congrats! I'll never get there myself but I'll be content with that i have .

 

[Scout]

Wow, that’s quite a milestone. Congratulations

 

[HawkeyeNFO]

With today's market gains, my TSP is now over $1,000,000.

I put $258k in there, all unmatched, from 2001-2017.

 

[Jim59]

I’m trying to understand why there is so much focus on net worth. Why does it matter so much ? Surely the goal is determining what you need to have to give as comfortable a retirement as possible.

No point in having the highest net worth in the cemetery and never having the time to enjoy a great retirement.

My milestone is 2nd August dropping to part time working and have recently joined Class of 2022. Next milestone is advising MC of retirement.

 

[RobbieB]

You answered your own question, "to give as comfortable a retirement as possible"

 

[Vincenzo Corleone]

Sub 1.4% WR. I'll be blowing some of that dough doing a complete gut and renovation of my bathrooms. Thinking about splurging on Toto toilets.

 

[skyking1]

With today's market gains, my TSP is now over $1,000,000.

I put $258k in there, all unmatched, from 2001-2017.

congrats and well played!
Our assets broke that plane of a sudden with the market gains. It is just a number along the way but a number I had not really given thought to.

 

[Mr. Tightwad]

Sub 1.4% WR. I'll be blowing some of that dough doing a complete gut and renovation of my bathrooms. Thinking about splurging on Toto toilets.

I have one. Hasn't ever clogged. Would recommend.

 

[NgineER]

Reached basic FI a couple of months ago. Hit $2.5 NW and $1.6 in invested assets. Will probably continue accumulating for another four years before cobsidering pulling the plug.

 

[DangerDad]

Over the weekend my net worth went into 8 figures for the first time. I never imagined that I would be this wealthy.

Congratulations and +1
Noticed this on 6/30 when I did my quarterly analysis.

Cheers,
DangerDad

 

[citrine]

Our net worth reached 1 million!!!!
I cannot share this anywhere else but here.
When I joined this group in my 20's, I really
doubted the magic of compound interest, but not anymore!

 

[RobbieB]

Yeah, it sorta creeps up on you in a very good way -

 

[F.I.R.E User]

Our net worth reached 1 million!!!!
I cannot share this anywhere else but here.
When I joined this group in my 20's, I really
doubted the magic of compound interest, but not anymore!

Best place to share it with are internet strangers. Who would have thunk it. LOL.

Congrats. On to the next million.

 

[Dtail]

Just hit our 4 year anniversary of retirement.
Everything is going great overall. Would have retired sooner than 57 y.o. if I discovered this site earlier.
Nevertheless, overall health and investments are good and everything else just falls into place.