Share your FIRE Milestones - 2013- 2020

[inky]

Quote:

Originally Posted by kgtest 6/1/2013 - Became Debt free 7/1/2013 - Cleared 100k in assets at age of 31. Turned 32 3 days later. 8/16/2013 - Discovered this website and am so grateful. I am looking to you guys to set my next milestone since I just joined and you all are the expert. Frankly I don't know how the hell I managed to acquire 100k in assets by 32 as I was a complete drunk but I am feeling terrible about myself after reading your posts. I have some catching up to do.

Congrats on starting to turn your life around. Becoming debt free and clearing $100K in assets is huge.

I set my milestones in $50K increments to motivate myself. I have a tab in my financial planning spreadsheet for milestones with columns for each $50K mapped out all the way to retirement. Each time I achieve a milestone I take a screen capture of the column in the spreadsheet that contains my main list of assets and paste it into that milestone column.

The tab provides a nice record of how my assets have grown over time. Sometimes I review it just for additional motivation.

[eta2020]

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Originally Posted by Retire44 Year-End Portfolio Values 12-31-2007 1,017,070 12-31-2008 713,063 12-31-2009 1,052,126 Today $2,400,000

We have almost identical history of invested assets:

Today $2,500,000 100% in equities all my life
$ 450,000 primary residence no mortgage
$ 100,000 vacation house no mortgage

Current ages 44 and 48.
We plan to work 7 more years.

[MDJO]

Crossed over $2M in net worth this year. Very proud of my son, who is 27, no debt, and about to hit his first big milestone: $250,000 in net worth and making plans to buy or build his own business.

[Eyerishgold]

100,000...........miles on my 2002 Jeep Wangler. Hopefully it's got another 11 years and 100,000 more miles in it. Minimal car expenses make me a happy man!!

[retire2020]

Age 48: Reached 2.5M on 9/11/2013
Age 36: House Fully Paid - 8/2001 - Now worth about $700K

Kids' 529: DD - Age 17 - 93K
DS1 - Age 09 - 91K
DS2 - Age 09 - 91K

So far on track to retire on April 1, 2020

[Sniggle]

Finally got to $1 million today in 401K/Roth combined...I was hoping to hit that milestone sometime during my 50th year, so I beat my goal by 5 months.

Looking good to retire before I die, with a DoD pension and private pension waiting for me at 60.

[RenoJay]

Reached $7.5 million. I'm 3/4 of the way to my goal!

[WestLake]

Paid off my last rental property mortgage for my 55 1/2 birthday. Paid off the next-to-last one six months ago. I am completely mortgage-free! Eat that GT Servicing!

[California Lawyer]

Here are my milestones:

2002 -- $0 (graduated from college)
7/2006 -- $100K
11/2009 -- $250K
3/2011 -- $500K
9/2013 -- $1M (two commas!)

Hope the next million comes in within 2 or 3 years. One can dream right?

[Spanky]

Quote:

Originally Posted by eta2020 We have almost identical history of invested assets: Today $2,500,000 100% in equities all my life $ 450,000 primary residence no mortgage $ 100,000 vacation house no mortgage Current ages 44 and 48. We plan to work 7 more years.

Amazing! Why work for another 7 years!?

[Spanky]

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Originally Posted by Hamachi Reached $7.5 million. I'm 3/4 of the way to my goal!

Wow! What's next after reaching $10 million?

[Spanky]

Quote:

Originally Posted by retire2020 Age 48: Reached 2.5M on 9/11/2013 Age 36: House Fully Paid - 8/2001 - Now worth about $700K Kids' 529: DD - Age 17 - 93K DS1 - Age 09 - 91K DS2 - Age 09 - 91K So far on track to retire on April 1, 2020

Why wait for 2010 with such awesome assets and college savings?

[RenoJay]

Quote:

Originally Posted by Spanky Wow! What's next after reaching $10 million?

Nothing special, it's just a nice round number to hit. Right now I'm 41 and will likely FIRE at age 45 even if I'm still well short of the goal. I realize it's a ton of money, but somehow I've allowed lifestyle creep to enter our world where, including taxes, we spend maybe $225k/year. When you take the home equity out of the current net worth, it ends up being a 3.2% withdrawl rate if we were living off investments right now, and personally, I feel the stock market is overvalued and more likely to go sideways for a few years than up so even with a lot of money FIRE is not a total no-brainer unless spending is under control which, clearly, it's not in my household.

[eta2020]

Quote:

Originally Posted by Retire44 Year-End Portfolio Values 12-31-2007 1,017,070 12-31-2008 713,063 12-31-2009 1,052,126 Today $2,400,000

Quote:

Originally Posted by Spanky Amazing! Why work for another 7 years!?

I want my child to be in US college and then me and DW will relocate back to Europe. I am dual citizen of USA and one EU country. Health benefits are better in EU and so is life after work.

I always planned for 55 no matter how much/little money I would have. If I had current net worth and 55 years I would retire. Life is limited. I want to do other things besides working even though I enjoy my work.

[retire2020]

Quote:

Originally Posted by Spanky Why wait for 2010 with such awesome assets and college savings?

You meant 2020 not 2010....
Because....I do not count value of my house in my retirement planning and want to secure at least 120K/Yr sustainable withdrawal from my portfolio for 40 years. My goal is to reach 3.5M and I think I may get there by 2020.

[daylatedollarshort]

Quote:

Originally Posted by retire2020 You meant 2020 not 2010.... Because....I do not count value of my house in my retirement planning and want to secure at least 120K/Yr sustainable withdrawal from my portfolio for 40 years. My goal is to reach 3.5M and I think I may get there by 2020.

Are you eligible for SS or any pensions? If so did you include any of those benefits in your planning?

[Retire44]

Topped $2,500,000 in portfolio value for the first time today! Started the year with $1,951,000, up 28.6% YTD with mix of new investment funds added & market gains.

[retire2020]

Quote:

Originally Posted by daylatedollarshort Are you eligible for SS or any pensions? If so did you include any of those benefits in your planning?

Yes for SS but no pension. 30K in today's dollars at age 70...DW is 5.5 yrs younger and has been SAHM since 2004(worked for 15 yrs prior to 2004).
I've not included any SS in my plan just to give myself some buffer just in case if market goes south from here onwards(repeat of 2008 crash..hope it never happens)

[daylatedollarshort]

Quote:

Originally Posted by retire2020 Yes for SS but no pension. 30K in today's dollars at age 70...DW is 5.5 yrs younger and has been SAHM since 2004(worked for 15 yrs prior to 2004). I've not included any SS in my plan just to give myself some buffer just in case if market goes south from here onwards(repeat of 2008 crash..hope it never happens)

Okay, thanks. I was just curious because leaving out SS for the two of you allows for a lot of extra cushion.

But it is great to be able to have that big of a buffer in your plan.

[Gumby]

I rolled over a nice round number today. Well, it's probably more oval shaped now.