Share Your FIRE Milestones - 2021

[Out-to-Lunch]

I recently turned 59.5! We know what that means...

 

[thatguy]

It was earlier this year but with the 2023 social security increase, our monthly pension & SS deposit finally crept past $5000. I no longer have to think it's almost $5k

 

[Jeffman52]

We just sent in our last Mortgage payment.


It's the primary thing on DW's checklist before we can FIRE.

 

[BlueberryPie]

We just sent in our last Mortgage payment.


It's the primary thing on DW's checklist before we can FIRE.

Congrats! It's definitely a major milestone and enabler

 

[dukebound85]

Me (37) and wife (38) hit 1.2 total NW this month.

Excluding primary residence, we are at ~920k, of which 540k is invested and the rest is in real estate (rentals)

Hope to be able to walk away from the grind by time I am 40

 

[F.I.R.E User]

I reached my all-time high yesterday from Oct of 2021 highs.

I am at $619k now but I am also old at 45. I know I am poor compare to other wealthy out on this forum. When do you all think I will reach $1M?

 

[rodi]

We got within 100k of the peak of the market. in 2021/early 2022. We aren't fat fire... but I'm still way above what we had when I retired in 2014.

 

[RxMan]

I reached my all-time high yesterday from Oct of 2021 highs.

I am at $619k now but I am also old at 45. I know I am poor compare to other wealthy out on this forum. When do you all think I will reach $1M?

First of all congratulations! That’s quite an accomplishment to save what you have saved. Don’t downplay your accomplishments by comparing yourself to others. There’s always going to be someone that has a lot more. You’re not poor by any reasonable standards.

To answer your question it depends on how much money you are contributing each year. My guess is that with a reasonable contribution and growth rate you’ll hit the $1 million mark within 5 years or less. I did a calculation and with a rate of return of about 7% you’re going to be a millionaire in about 7 years even if you don’t contribute another dime to your portfolio.

I’d just keep doing what you’re doing. You’re obviously successful at accumulating money. You’re reaching the point where your portfolio will start to work harder than you and it’s all thanks to the power of compounding. Congrats again and good luck!

 

[ER_Hopeful]

I reached my all-time high yesterday from Oct of 2021 highs.

I am at $619k now but I am also old at 45. I know I am poor compare to other wealthy out on this forum. When do you all think I will reach $1M?

the 2nd 500k comes much quicker than the first, at least it did for me. First 500k took around 9 years, reached 1m by year 13.



all time high 11/2021: $1.5m. currently at $1.4m



1m seemed so far far away and unreachable when I first started in 2007, right before the financial crisis ...

 

[F.I.R.E User]

First of all congratulations! That’s quite an accomplishment to save what you have saved. Don’t downplay your accomplishments by comparing yourself to others. There’s always going to be someone that has a lot more. You’re not poor by any reasonable standards.

To answer your question it depends on how much money you are contributing each year. My guess is that with a reasonable contribution and growth rate you’ll hit the $1 million mark within 5 years or less. I did a calculation and with a rate of return of about 7% you’re going to be a millionaire in about 7 years even if you don’t contribute another dime to your portfolio.

I’d just keep doing what you’re doing. You’re obviously successful at accumulating money. You’re reaching the point where your portfolio will start to work harder than you and it’s all thanks to the power of compounding. Congrats again and good luck!

Max t401k = $20.5k plus 100% match 6% ($65k annual salary W-2).
Roth IRA = $6.5k
Taxable account = About ~$10k.
No RE.

My goal is to be a millionaire in my 40s. If I can do it a day before my 50th birthday then that would qualify me.

 

[BlueberryPie]

I'm back above previous maximum, in part because I have been contributing aggressively over the past few years.
But I'm not as close to my "number" as I used to be:

The last time I did an in-depth analysis of how much I think I want yearly in retirement, I came up with what my portfolio needs to sustain that. Not 25x because I do count on social security but I'd like to retire 8-12 years before I start SS

I've been adjusting that number upward yearly by inflation, and given the high inflation over the past couple of years, my number grew and my investment haven't caught up yet.

I was at 72% of my number in Jan 2022, I'm now only at 61%. Hopefully inflation cools off and the market continues to recover so I can make up the lost ground.

 

[F.I.R.E User]

the 2nd 500k comes much quicker than the first, at least it did for me. First 500k took around 9 years, reached 1m by year 13.



all time high 11/2021: $1.5m. currently at $1.4m



1m seemed so far far away and unreachable when I first started in 2007, right before the financial crisis ...

Yes, it sure does. Hoping to reach that before my 50th birthday so I can say I become a millionaire in my 40s.

Looks like you have almost recovered from 2021.

I started in 2007 too.

 

[Exit 2024]

I reached my all-time high yesterday from Oct of 2021 highs.

I am at $619k now but I am also old at 45. I know I am poor compare to other wealthy out on this forum. When do you all think I will reach $1M?

Congrats on all time high and you are not that poor for your age

We started at 35 y.o. and by my 45th birthday we had NW of about $750k of which about $150k was equity in RE, so very close to your number. I remember thinking that we may never get to retire earlier with such slow accumulation speed and questioning if $3M NW number even doable at all for us. On my 46ths birthday I started my own topic on this forum - trying to solicit inputs and also track our progress, that was the best thing that I did and it was almost 8 years ago. We are still working on our number, looks like slightly behind but we do see light at the end of the tunnel and hoping to FIRE by age 56 (in about 2 years)

So keep your focus and keep going, ask questions and keep going, live your life but still keep going.

 

[F.I.R.E User]

Congrats on all time high and you are not that poor for your age

We started at 35 y.o. and by my 45th birthday we had NW of about $750k of which about $150k was equity in RE, so very close to your number. I remember thinking that we may never get to retire earlier with such slow accumulation speed and questioning if $3M NW number even doable at all for us. On my 46ths birthday I started my own topic on this forum - trying to solicit inputs and also track our progress, that was the best thing that I did and it was almost 8 years ago. We are still working on our number, looks like slightly behind but we do see light at the end of the tunnel and hoping to FIRE by age 56 (in about 2 years)

So keep your focus and keep going, ask questions and keep going, live your life but still keep going.

Thanks. First time I made $60k which was last year. This year I should hit $70k with my DoorDash business that I just started. Started at around $30k in 2007 salary which just $10k to my name. It’s been quite a journey. Discipline is key.

My goal is $2M. Then, perhaps I can log out.

 

[street]

Thanks. First time I made $60k which was last year. This year I should hit $70k with my DoorDash business that I just started. Started at around $30k in 2007 salary which just $10k to my name. It’s been quite a journey. Discipline is key.

My goal is $2M. Then, perhaps I can log out.

You have done well and just keep up what you are doing and will succeed in your goal.

 

[F.I.R.E User]

You have done well and just keep up what you are doing and will succeed in your goal.

Thank you.

 

[karen1972]

Finally hit 100% in Firecalc for our bare minimum budget. We planned for this to be his last contract gig, but who knows, he finally found a job he actually likes, its easy, no pressure, great benefits so there may be more than one OMY in his future.

 

[Love This Community]

We crossed the magic $1,000,000 mark in our combined 401k accounts for the first time. Last time we came this close was 2 years back around 980,000.

 

[F.I.R.E User]

Finally hit 100% in Firecalc for our bare minimum budget. We planned for this to be his last contract gig, but who knows, he finally found a job he actually likes, its easy, no pressure, great benefits so there may be more than one OMY in his future.

Wow. Awesome but 95% is enough too right?

 

[ATXFIRE2034]

We hit $1.1m NW today, highest mark yet. NW is up 19% YTD. I feel like we’re living in the twilight zone….

 

[F.I.R.E User]

We crossed the magic $1,000,000 mark in our combined 401k accounts for the first time. Last time we came this close was 2 years back around 980,000.

What about overall assets?

 

[Finance Dave]

I think we’ve passed the peak on our portfolio…will be withdrawing more this year than we grow….largely due to a large tax bill that we owe from selling several rentals.

 

[Love This Community]

What about overall assets?

Overall is 1.7 MM plus excluding primary residence equity.

 

[karen1972]

Wow. Awesome but 95% is enough too right?

We have two goals, the bare minimum budget which we wanted to be at 100%
and the live it large budget which are only aiming for 95% that way we have lot of wiggle room.

 

[House Divided]

This is year 11 of FIRE. FIRECALC is still at 100%