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Old 03-24-2013, 10:39 AM   #61
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Originally Posted by ChainsBeGone View Post
30 June 1987 - received first paycheck after college and invested 10% of it into the stock market via an IRA. Had started off going to the beach that day, but our buddy who gave us a ride wanted to stop off at his financial advisor. We were invited in, wearing our beach shorts, flip flops, and a little worse for the wear due to lingering hangovers from the night before (did I mention we were just out of college?). We were met by the smiling financial advisor and given a free Coke, and the next thing we knew we were signing up for IRAs. I hadn't even known what an IRA was before that day. We actually did make it the beach that day, and I've been saving and investing ever since. It took me about 5 years to figure out that the front loaded, high-fee fund was a really bad deal for me and a great one for the advisor. I ended our relationship at that point and became my own advisor, but I am thankful that it got me started, not only with the introduction to saving for retirement, but also to the stock market, and that was the beginning of a great and interesting life-long education.
Yep, I remember my first check after college, as a brand new 2nd Lt...$930/mo. I thought I was rolling in it! And in a sense, I was; first "steady" (more than summer jobs) paycheck I'd ever had.
You may be whatever you resolve to be.
100% x 10% > 10% x 100%
Small pensions & SS cover essentials
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Old 03-24-2013, 01:33 PM   #62
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Originally Posted by Huston55 View Post
Yep, I remember my first check after college, as a brand new 2nd Lt...$930/mo. I thought I was rolling in it! And in a sense, I was; first "steady" (more than summer jobs) paycheck I'd ever had.

My first 2LT paycheck was $1,260.90!
"Our lives are what our thoughts make them" - Marcus Aurellius
FIRE'd on 1 June, 2013 at age 48, DW FIRE'd with me on same day at age 47.
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Old 03-24-2013, 02:28 PM   #63
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1986 - first earnings from mowing the grass @ my dad's office ($25 for front and back) at the ripe young age of 10.
1988 - first loop around the golf course: $12. Caddying would continue to be a great experience and earnings machine through most of college averaging about $3,500-$4,000 per year in high school (less in college, from working during the week as an intern for dad)
2000 - first career paycheck (working for dad).

2004 - first wander onto the forum from some random surfing. Realize that my spreadsheets where I assumed I would need $x for healthcare and $y for every other categories were likely waaaaay too high, and that a simple 25x/40x rule of thumb was sufficient for my life.

late 2009 - cross the 7 figure investment portfolio.

2013 - after deducting for paying off the mortgage, current investment portfolio at about 46x what I could live a pretty nice life by myself (all basic needs met, plus about $15k/year for travel and fun). Of course, for 2 people, that would shrink down a bit. Hoping to live just off of the dividends with a yield of about 2.7% once I retire (still looking for a special woman to become DW
Dryer sheets Schmyer sheets
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Old 03-25-2013, 03:28 PM   #64
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early 2004 - read about the E-Rforum in Newsweek and became a member soon thereafter

winter 2006 - DS born

summer 2007 - made final house payment and became completely debt free

fall 2011 - DD born

summer 2013 - telling the job to shove it; trying the SAHD thing and some P/T employment

next - looking forward to the crossover point - should be sometime in next 5-7 years
Diggin' my way to financial freedom, one buck-at-a-time
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Old 03-25-2013, 03:52 PM   #65
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Originally Posted by Huston55 View Post
Yep, I remember my first check after college, as a brand new 2nd Lt...$930/mo. I thought I was rolling in it! And in a sense, I was; first "steady" (more than summer jobs) paycheck I'd ever had.
That reminds me of my first paycheck. About $18.40 from MoreBurger in Austin, Texas. Deposited in the Bank and it Bounced! Rather Irate went back to More burger and the guy there looks at me like I was a martian " You dumba** you don't deposit your paycheck in the bank - you put it in the till and take your money out!." Thus I learned high finance.
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Old 03-25-2013, 06:39 PM   #66
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Originally Posted by ejman View Post
That reminds me of my first paycheck. About $18.40 from MoreBurger in Austin, Texas. Deposited in the Bank and it Bounced! Rather Irate went back to More burger and the guy there looks at me like I was a martian " You dumba** you don't deposit your paycheck in the bank - you put it in the till and take your money out!." Thus I learned high finance.
Funny, my first job was at Kinney Shoes. We also got paid out of the till, in cash.
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Old 03-25-2013, 08:25 PM   #67
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1963 age 7 first paid job, dog grooming, $0.25 per week, fired for incompetence after 1 month.
1973 first wages that had FICA withheld
1976 first regular paycheck US Navy
1982 started working at Megacorp
1989 started saving for retirement
2010 age 55 eligible to early retire from megacorp with 401k and DB pension and health care
2011 found ER-Org
2011 FI then ER from Megacorp
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Old 03-26-2013, 07:26 PM   #68
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1. 21 yrs old - earn 6 figures a year
2. 30 yrs old - "millionaire"
3. 34 yrs old - "multi-millionaire"
4. 34 yrs old - retire

I hit #1 on time, barely and it took some work, but on time.
I hit #2 about 6 months early.
Goal #3 is technically hit already, but won't see all the money until 4Q of this year (company profit distributions are done quarterly)
Goal #4..... Just about there.

I'm 33 now and turn 34 in a few months. Total investments and cash are $1.6M, house is worth $335k, and distributions from the company I own clocked in at $800k this year (half goes to Uncle Sam in estimated quarterly payments... I'll clear $475k or so after the final distribution is made in December and that last estimated tax check is sent in).

If I count the business (the full net gain, after taxes) in my total net worth, that brings me up to $6.6M'ish. At which point, I'm hoping #4 is completed by the end of the year if all the stars align.
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Old 03-27-2013, 03:12 AM   #69
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Paid off the next to last mortgage on my rental properties this month for my 55th birthday.
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Old 03-27-2013, 03:13 PM   #70
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My first job was with Jewel Foods in Illinois while in high school. We were paid from the till in cash and given a machine printed pay stub. Second job was at Sears in Wisconsin while going to college. We were paid by cash in a brown envelope with the tax withholdings written in pencil on the back of the envelope.
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Old 03-29-2013, 09:01 AM   #71
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Did my monthly tally since the markets are closed and our NW has crossed 750K (I am 40 wife is 38). Feels good.
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Old 03-29-2013, 12:14 PM   #72
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I hit another small milestone yesterday. My rollover IRA's value broke through the $400k mark. Back in late 2008 when I first did the rollover from my old company's 401(k) it was worth about $234k and I had not added any new money to it and have done a small amount of rebalancing in the last 4 years). Of course, the $234k was down from what it was worth in 2007 but it is hard to quantify because it included company stock and after-tax contributions, both of which I liquidated when I left the company.
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
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Old 03-29-2013, 01:22 PM   #73
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Hey Milkman--

I had the same experience working for Montgomery Ward in Indiana in the late 1960s.
Wage was a princely $2.00 per hour, paid weekly in a little manila envelope with handwritten withholding notes. Plus I got a 10% discount on everything in the store. Good money for a college kid.
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Old 03-29-2013, 01:35 PM   #74
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I turned 60 in January 2013, so that means I can retire anytime, since I have the requisite number of years. Next, in 2015, DW will have 20 yrs in her local govt job in 2015 (at age 57) and will be able to retire anytime (no pension); that same year I get a small boost in the small pension; and then we both will start the OMY dance.

"We live the lives we lead because of the thoughts we think" ...Michael ONeill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to accept the illogical"...Anonymous
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Old 03-29-2013, 02:33 PM   #75
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Originally Posted by Karloff View Post
I feel exactly the same way. Funny how our perception changes as we age and life gets more complex. When I was single, a little younger (29, I believe) and reached $50K in savings, I thought $100K would make me feel immensely better and anything above that was basically icing on the cake. I wish! Now, married, 35, after having surpassed that figure a couple of years ago or so, I feel that we are not nearly where I'd like us to be, retirement-wise. I would retire yesterday if I could, but my target is still at least two decades ahead of us... My goal this year is to reach $200K in retirement savings. We are getting close! Hopefully I'll be able to contribute to this thread once we reach that milestone.
I reached $450k this year. I was at $100k 8 years ago and I thought that was a lot of money.

Now $450k doesn't seem like a lot and I still live like 8 years ago...mostly because I want to retire now!

I was making $30k 10 years ago. Now I'm making 6 figures and 6 figures now doesn't seem like a lot.

It seems like it's never enough once you reach a goal.
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Old 03-29-2013, 10:26 PM   #76
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Originally Posted by tkopel View Post
This is kind of a funny milestone, but we finally reached a net worth of $0! Which is good considering it used to be -$150,000 (student loans). With the Army loan repayment program, and my husband and I getting Gazelle intense on the last of our debt, and finally putting money aside for retirement, we now have $32,000 in retirement accounts and $32,000 left of my student loan. $0 never felt so good!
Way to go!
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Old 03-29-2013, 11:55 PM   #77
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It occurs to me that you would be notionally rich and Have Enough by anyone's standard if you could fly 1st class (full fare/no frequent flyer upgrade) anywhere without batting an eye. It would be like the Starbucks latte splurge. Maybe $10MM?
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Old 03-30-2013, 08:23 AM   #78
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I'm 36 years old and I just hit 200k in investments (401k, Roth = 180k) and savings (20k). I still have a long way to go, but it does feel good to hit them milestones. "It's not sprint, it's a marathon".
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Old 03-30-2013, 10:41 AM   #79
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DW (36) and I (40) crossed over the $1 M threshold early this year.

Feels pretty good, but with a two-year old daughter, my number that I would feel FI at has gone up quite a bit.

DW is gungho on having another little one real soon, so if that happens we might be stuck at the grindstone quite a while longer.

Go DOW 25k!
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Old 03-30-2013, 12:04 PM   #80
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I wish I had found this site earlier, because I'm retiring in a month lol. We beat the 1M mark in the spring, saving into guaranteed employee programs, then used about $140K to pay off mortgage and buy a new camper. DW inherited an IRA, so I spent time (3 months) studying about the market so I could invest in Vanguard funds. Still have over 900K, plus a $184K in equity, and getting ready to receive a large separation check in June, so I'll be back over the 1M mark shortly lol. DW and I both have pensions (she just retired as well) and June 2, should be on our road trip across America, starting out heading to Denali National Park. Pensions should pay for our living, minor draw from investments should pay for our travel.

All our Milestones in one post!
"Growing old is no excuse for growing up."
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