Share your FIRE Milestones - 2013- 2020

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Four meeeeeellion dollars net worth! 3/23/13

scrooge-mcduck-make-it-rain.jpg


Actually $4,000,043. I had to go to the coinstar machine at CVS this morning and redeem $291 in coins to get over $4M.

56 years old, retired 21 months - wife is still teaching.

$2,900,000 tax deferred
$377,000 taxable
$13,500 savings/checking accounts and cash at home
$654,400 house - no morgage, value based on the average of four online estimates.
$55,000 for two cars and personal property - OK I pulled these out of my arse but I believe they're conservative.
No debt

Forgive my apparent arrogance and braggadocio, but I enjoy reading other success stories and hopefully this might provide inspiration for other schlubs like myself.

I'll report back when I've lost half of it.
 
Way to go on the 4M mark!
It seems to me that at 4M you are on coast mode, as far as money goes. I am not there yet, but that is my next goal. However, I have found that whenever I reach a NW target, it is is exactly half of what I want, or think I need at the time. :-( Need to breakout of that thinking. :)

I have been using the wealth rank app http://methowtime.com/wealthrank/ and they say you need 4.5M to make it into the top 1% (final target
Also tried to get a handle on how much NW gets you into the 1% club. Seems to be a large range, depending on the source. The Capgemini World Wealth report is the best I have seen so far. http://www.capgemini.com/worldwealthreport/
 
TOOLMAN said:
Way to go on the 4M mark!
It seems to me that at 4M you are on coast mode, as far as money goes. I am not there yet, but that is my next goal. However, I have found that whenever I reach a NW target, it is is exactly half of what I want, or think I need at the time. :-( Need to breakout of that thinking. :)
Click to expand...

LOL been there, done that --- then I realized that not working one more day than I needed to was my REAL goal, so I reduced my contingencies and fears on my portfolio while maintaining my LBYM buget to allow me to take the leap this year
 
Early this year, hit a net worth of $2M, 1.6 investments, 400K in home and other assets. Age 59, still at w**k, DW has already retired.
 
1. 2003: Retired from the AF Reserves, guaranteeing a COLAd pension and retiree HI.

2. 2011: Became "mortgageless"

3. 2012: Achieved FI
 
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.

1 June 2011 - two steps forward and one step back. I gave my one-year notice of intent to retire (one year is the required notification period), and then several months later fell victim to the one more year syndrome and withdrew my request.

1 June 2012 - giant step forward and vowed no more "one more years," and gave my 12 months notice.

1 June 2013 - next milestone: first day FIRE'd.
 
NW is close to $3.4M including house. My goal was to get to $3MM excluding house....I'm a couple hundred K short of this now. Reached FI....have 40x annual expenses including 32k pension. $4MM sounds real nice but I don't think I'm going to make it to that milestone.....49 and looking to RE at 50 to 51.
 
A few of my older milestones:

April 1998 - paying off my mortgage and becoming debt-free (again).

August 2000 - reaching the $200k plateau in taxable account investments. That was big because I had paid off the mortgage only 2 years earlier so there was no corresponding debt to offset it.

I am closing in on $800k in my taxable account investments.
 
This is a fun post. Great reading other people's successes and goals. It is all so encouraging. Let's all keep at it!!

Milestones:

2010: ditched terrible FA from Morgan Stanley (the was made possible by reading this site and Bogleheads. Thank goodness for these sites!!:cool:
End of 2011: 1MM net worth excluding house
End of 2012: 529s for 2 children funded as much as I wish to fund
Early 2013: Watched Ravens win Superbowl in NOLA

Goals:
September 2014: ten years married to an amazing woman
Mortgage free by age 40
FI by 45
SRE at 50
RE at 55
 
awesome DB. We're 30 y/o, and just went over $120K in our investments (401k, roth, trad ira). In 3 months, we'll have all of our vehicles paid for (3 total). Also, we have $-15k equity in our home, and a rental that generates about $50 a month positive cash flow after paying mortgage and property mgmt fees:) I have about 13 more years to a military pension (hopefully). But in all reality, I think we're doing pretty well. I'm just hoping the real estate market begins to pick up and then we should be doing well.
 
ChainsBeGone said:
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.
Click to expand...

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.
 
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 :)
 
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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
 
Huston55 said:
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.
Click to expand...

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.
 
ejman said:
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.
Click to expand...

Funny, my first job was at Kinney Shoes. We also got paid out of the till, in cash.
 
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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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.
 
Paid off the next to last mortgage on my rental properties this month for my 55th birthday.
 
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.
 
Did my monthly tally since the markets are closed and our NW has crossed 750K (I am 40 wife is 38). Feels good.
 
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.
 
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.
Prof12
 
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.
 
Karloff said:
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.
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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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