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Small milestone - $2M
Old 09-02-2020, 01:40 PM   #1
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Small milestone - $2M

So, this morning when I updated my spreadsheets, as I do every morning (I know, I'm obsessed) I noticed that for the first time ever that our net worth (not including real estate) passed the $2M mark. We've been able to put this together mostly over the last 10 years. The plan is to tack $1M more on in the next 5 and then RE right as my daughter is graduating high school (529 should come very close to covering the bulk of her higher ed). Or, we will at least head south to better weather and the mountains. I guess if my company made me an offer I couldn't refuse, I'd hang around for a bit longer. But, at that point, it would be purely my choice.

Anyway, I can attribute much of this progress to the wise tutelage I received from many of you folks. So, I thought I'd share.
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Old 09-02-2020, 01:43 PM   #2
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Congrats. That's a nice milestone.
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Old 09-02-2020, 02:07 PM   #3
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Congratulations on learning, planning, implementing, and passing this milestone.

Several years ago while I was in a similar situations with 5 years to RE and concurrent high school graduation w/ 529, I was blown away by the Bogleheads post at link below.

I read this dozens of times as I began to understand the many opportunities to manage and reduce taxation in ER. These strategies are working great, along with keeping income below 400% of FPL for ACA health credits.

There's a bit of banter in the thread to wade thru, I hope you find the info as valuable as I have.

https://www.bogleheads.org/forum/viewtopic.php?t=87471
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Old 09-02-2020, 02:22 PM   #4
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Congratulations! I don't think that's a small milestone, I think that is a very significant milestone.
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Old 09-02-2020, 02:26 PM   #5
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Still a big amount in fly over country where I live.
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Old 09-02-2020, 02:27 PM   #6
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Nice work. Quite the accomplishment.
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Old 09-02-2020, 02:29 PM   #7
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I open a bottle of Veuve Clicquot or DP for every big milestone of that sort. I put the date on the cork and tuck it away -- with the other corks -- way up on a top book shelf, way in the back against the wall. Only I know they are there, but for some reason I get my jollies knowing I have that stash marking those big milestones.

Congrats to you; have a drink!
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Old 09-02-2020, 03:17 PM   #8
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Quote:
Originally Posted by skibum View Post
Congratulations on learning, planning, implementing, and passing this milestone.

Several years ago while I was in a similar situations with 5 years to RE and concurrent high school graduation w/ 529, I was blown away by the Bogleheads post at link below.

I read this dozens of times as I began to understand the many opportunities to manage and reduce taxation in ER. These strategies are working great, along with keeping income below 400% of FPL for ACA health credits.

There's a bit of banter in the thread to wade thru, I hope you find the info as valuable as I have.

https://www.bogleheads.org/forum/viewtopic.php?t=87471
Thanks for the reference. i'll sift through it and try and learn some more!
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Old 09-02-2020, 03:18 PM   #9
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Congratulations! I would call this a BIG milestone. It sounds like you are well on your way to a wonderful early retirement.
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Old 09-02-2020, 03:18 PM   #10
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Congratulations! I don't think that's a small milestone, I think that is a very significant milestone.
Didn't mean to diminish the amount. Just saying it's a small milestone on the way to the BIG milestone, which is FIRE!
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Old 09-02-2020, 03:21 PM   #11
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Originally Posted by Mo Money View Post
I open a bottle of Veuve Clicquot or DP for every big milestone of that sort. I put the date on the cork and tuck it away -- with the other corks -- way up on a top book shelf, way in the back against the wall. Only I know they are there, but for some reason I get my jollies knowing I have that stash marking those big milestones.

Congrats to you; have a drink!
That's a nice tradition! I should think of something like that to do. And, yes, I'll definitely have a drink or 3 this evening. However, i'm not quite the connoisseur that you are. I'll just have some Budweisers!
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Old 09-02-2020, 03:39 PM   #12
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First 'M' is the hardest, eh?

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Old 09-02-2020, 03:41 PM   #13
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I'd say that's a pretty damned impressive milestone! $2M was my magic number, for several years, although as I got closer to it I started falling into One More Year syndrome. I briefly popped the $2M barrier back in February, before the bottom got shot out of the market. I got back above it, barely, toward the end of August.

With luck, I'll stay there for awhile, this time. Anyway, congratulations! It's definitely a good place to be!
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Old 09-02-2020, 04:01 PM   #14
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Congratulations on your "small" attainment! Ain't it great when you and your spouse are on the same page financially?
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Old 09-02-2020, 04:17 PM   #15
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Congratulations! What a wonderful achievement. How are you planning to celebrate? It's important to celebrate milestones to enjoy the journey.
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Old 09-02-2020, 04:21 PM   #16
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Excellent work! Congrats!
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Old 09-02-2020, 04:27 PM   #17
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congrats, we just crossed that mark recently too.
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Old 09-02-2020, 04:35 PM   #18
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Congratulations! That’s a great milestone to reach. The next one is even easier!
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Old 09-02-2020, 04:56 PM   #19
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Way to go and congratulations on your milestone!
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Old 09-02-2020, 05:12 PM   #20
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Well done! That is so far ahead of a small mile stone! Many never break 1M
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