Share your FIRE Milestones - 2013- 2020

[Huston55]

Do people include SS and pension in net worth? I know some include their residence.

I've never included my pension or SS in my NW. Maybe I should start(?). Sometimes I include my residence.

Around here, the NPV of SS & pensions is not typically included when citing NW amounts. However, there are a few threads where the NPV of guaranteed income streams is included in what I’ll call one’s ‘accumulated wealth.’ Two instances come to mind:

1. Wealth Conversion Efficiency

2. ‘NPV of Current Wealth’ compared to ‘Total Lifetime Income’

You can find threads on both of these with a search on E-R.org.

 

[splitwdw]

I've never included my pension or SS in my NW. Maybe I should start(?). Sometimes I include my residence.

Hawkeye, Never understood including SS or pension since SS or pension aren't guaranteed. Are government pensions guaranteed? I'm not eligible for SS for about 20 years and wonder what SS will look like at that time. Even though I own my house and it is one of my assets, I don't think of it being in my net worth unless I'm doing estate planning. I have to live somewhere. Geez, if I included my residence, I could add 400,000 to my net worth.

 

[karen1972]

SSA.GOV finally says

"our estimates are based on the assumption that you will earn $0 a year from now until retirement."

Yeh I've been retired long enough they realize I'm no longer ever going to pay in again.. which means the "estimates" I now have for SS is accurate. Given I retired at 43, I'm happy with the #s.

 

[cusetownusa]

Hawkeye, Never understood including SS or pension since SS or pension aren't guaranteed. Are government pensions guaranteed? I'm not eligible for SS for about 20 years and wonder what SS will look like at that time. Even though I own my house and it is one of my assets, I don't think of it being in my net worth unless I'm doing estate planning. I have to live somewhere. Geez, if I included my residence, I could add 400,000 to my net worth.

My wife's Pension is more guaranteed than my 401k assets are. With that logic nothing should be included in your Net Worth calculation.

Net Worth is simply Assets minus liabilities. Anything other than that then you aren't calculating your Net Worth but something else.

So if you have $1 million dollars you would consider your Net Worth $1 million. Then the next day you bought a $400,000 house with cash and annuitised the remaining $600,000 does that mean you now have a $0 net worth? Doesn't make any sense.

 

[Jeffman52]

Just hit 850K NW this month on our way to a minimum of 1M (goal of 1.2M) to retire in the next few years. Wife and I really got a late start on setting ourselves up to retire, but better late than never and better to have 850K dollars than zero dollars saved for retirement.

 

[valueplayer]

Just passed 1.5m..41 year’s old. We are 2.5 years ahead of our goals.

 

[cnocmmz]

Just hit 850K NW this month on our way to a minimum of 1M (goal of 1.2M) to retire in the next few years. Wife and I really got a late start on setting ourselves up to retire, but better late than never and better to have 850K dollars than zero dollars saved for retirement.

Congrats....DW and I are at the same point 850k or so with me being 57 and DW 63. Plan on walking away at 59 and both have good healthy pensions totaling @about 85k until I can collect SS, and then things get more fun lol.
Again congrats...

 

[Islandtraveler]

Became a Vanguard Flagship Select Services client this year. Not too many that I can share that with.

 

[HawkeyeNFO]

Spreadsheet says we topped $1.9M not including the home equity.

 

[GoBears]

Quicken shows $2.2M in investments (about 85% in tax deferred) and cash. If we sell the house, we would also walk away with another $500k+ in equity after paying off the mortgage. But no pensions. Now beginning to explore lower cost relocation options.

 

[JohnDoe]

Investments hit 1M today for the first time. Can't believe it and can't believe this market.

I also splurged on a really nice used car a little while ago. We lasted about 10 months being debt free. lol

I guess we (or at least I) will be at it for a few more years. How do you guys retire when you're at the peak of your earnings and cash flow feels so good.

 

[cooch96]

Investments hit 1M today for the first time. Can't believe it and can't believe this market.

I also splurged on a really nice used car a little while ago. We lasted about 10 months being debt free. lol

I guess we (or at least I) will be at it for a few more years. How do you guys retire when you're at the peak of your earnings and cash flow feels so good.

Well done, John. $1M is a great round number.

I suspect few do RE when the cash flow feels so good. Nor should they. I hope nearly everyone FIREs because the the thought of comfortable leisure feels better than the $$$.

 

[Rdub]

Investments hit 1M today for the first time. Can't believe it and can't believe this market.

I also splurged on a really nice used car a little while ago. We lasted about 10 months being debt free. lol

I guess we (or at least I) will be at it for a few more years. How do you guys retire when you're at the peak of your earnings and cash flow feels so good.

I FIRED at 47 and gave up some serious cash flow. However, I have been saving a boat load for many years and decided my time with my family and hobbies outweighed the additional padding to my NW. Been enjoying my FIREd life ever since.

 

[retired1]

Paid off all cars. Mortgage balance dropped to 90K.

 

[Andre1969]

As of roughly 5:53 AM, EST, I am finally mortgage free!

 

[cooch96]

As of roughly 5:53 AM, EST, I am finally mortgage free!

Bravo!

 

[JohnDoe]

As of roughly 5:53 AM, EST, I am finally mortgage free!

Congrats! That is worth a celebration!

Give it some time to sink in - it really feels good.

 

[Retch The Grate]

A new kinda milestone, I crossed $1 million in my investment accounts last year which I posted about, but I've been out of work for the last 11 months (the downside of working as a game designer, can take a long time to find work). I even withdrew ~40k last year from my after-tax account to cover living expenses. My investment account balance is now $1.145 million... Yes I know we are having a huge run up, and yes it will likely dip way back down again, but I can't even express how stress relieving it was while having various job offers fall through (the downside of getting offers from startups), and withdrawing money to pay the bills, that the value just kept increasing.

In a week I start a new job at the highest salary I've ever made, and I'm looking forward to putting cash into those accounts again instead of withdrawing. The new job timing means that any drop in the market just looks like a buying opportunity, yay!

 

[FIREmenow]

In a week I start a new job at the highest salary I've ever made, and I'm looking forward to putting cash into those accounts again instead of withdrawing. The new job timing means that any drop in the market just looks like a buying opportunity, yay!

Congrats - nice!! LBYM.

 

[texcurtis]

I paid my house off today. I retired early 3 years ago & have finally relaxed enough about the finances to retire my final debt.

 

[cooch96]

I paid my house off today. I retired early 3 years ago & have finally relaxed enough about the finances to retire my final debt.

Nice! Here’s to your relaxing retirement!

 

[orangehairfella]

Broke $1.1M NW. $830k investable. VTI's 6.25% year to date performance made quite the difference.

Next milestone really should be $1M invested.

2015-05: $400k
2015-10: Paid off mortgage
2016-03: $500k
2016-11: $650k
2016-12: $800k
2017-06: $900k
2017-11: $1M
2018-01: $1.1M

 

[retired1]

I paid my house off today. I retired early 3 years ago & have finally relaxed enough about the finances to retire my final debt.

Congratulations !! You deserve it.

 

[RobbieB]

I'm now worth my weight in gold.

But I don't want the Midas touch -

 

[W2R]

I'm now worth my weight in gold.

But I don't want the Midas touch -

Wow, that's quite an accomplishment, whether you're a hefty guy or thin as a rail. Congratulations! With resources that substantial, I think you should blow that dough ASAP.