How did you amass so much in your retirement accounts?
Use defined benefit plan for self business, which allow one to put large portion
of the income in retirement account, plus active investing.
How did you amass so much in your retirement accounts?
Well, I'll play the role of the "little guy". But as of close yesterday, my investments are now over $500k.
It truly is a snowball. The first $100k was the hardest!
I'm not a C-Suite Exec or high income earner. Just LBYM and save 35% to 50% of my income. Ready for the next $500k.
Sub 2% WR.
Congrats. I was at around $285k in March 2020 and now at $528k.I just hit 1.1M last night. Incredible to have gone up another 100K in a little over 4 months since I hit the magic 1.0M late last year. And I'm not even making any active income right now!
I can say that my first 100K took me 22 years! Now it took me just 4 months?! And passively?
Gonna have to take little off the top here and re-boost up my emergency savings account while it's doing so well.
Unbelievable 14 months this has been. Crossed 3 mil 2/5/2020, down almost 750K at the low in March 2020, and today crossed 4 mil! What a ride!
This market is nuts. Just ran the numbers and my investable assets crossed $5M for the first time. Did not expect to hit that until next year.
I hit 2M in investable assets yesterday. I had so few people to share it with that it was rather depressing. The 2M does not include the equity in my house. Moving onward and upward to the next million! Congrats to everyone and their accomplishments!
This market is nuts. Just ran the numbers and my investable assets crossed $5M for the first time. Did not expect to hit that until next year.
F.I.R.E User>>> good question. I guess you would run some number and use conservative percentages and your annual saving you contribute and see what it takes to to reach it. A lot of unknowns but you should get close.
I personally couldn't tell you when I hit 500k or even 1 million. I never checked or dwelled on the number game. I continued to save and invest through good and bad times and never looked back. Not sure that is typical but I did know if I continue on saving I would be fine.
Good luck hope you get there soon.
Run #’s on FireCalc?
It took me about 13 years to reach $500K. How long will it take to reach $1M?
It took me about 13 years to reach $500K. How long will it take to reach $1M?