Two comma club

[MissMolly]

Congrats and at least for me it was a yuge psychological event since my initial planning had indicated we would need 1.3 million (assuming working until full SS benefit age). 5.5 years later and it has doubled, which I never, ever had imagined.
You should be very proud.

WOW! Doubled in 5.5 years?!? How exciting for you!

 

[Cayman]

Well done and congrats Miss Molly!

 

[Dreamer]

Congrats! Happy for you.

 

[RobLJ]

WOW! Doubled in 5.5 years?!? How exciting for you!

I looked at Quicken and the portfolio almost tripled between early '02 and '07, almost (but not quite) doubled between early '07 and early '12, and almost but not quite doubled between early '12 and now.
We didn't have a lot invested yet in '02 and increased significantly our investments/withholding then and increased even more in '12 when our oldest was graduating from college (and it was clear we had enough to pay for the youngest to get through school), so it makes sense, in retrospect. I had expected a slower increase the last five years since I stopped witholding in mid '15 and DW took a sharp cut in salary when we moved to Reno in '15.
YMMV but the increase caused by compounding can be a bit shocking in the later years--barring yuge recessions, etc.

 

[Montecfo]

That was the hard part, the next million is easier.

Each subsequent million is easier because you have the prior million(s) generating returns. When you start out, OTOH, you have nothing. That's why the first is so hard.

 

[Major Tom]

Each subsequent million is easier because you have the prior million(s) generating returns. When you start out, OTOH, you have nothing. That's why the first is so hard.

Aaah yes, I was wondering why that was. Thank you for explaining it

As REW said, good golly Congratulations MissMolly - you are inspiring me! I have a little way to go, and will probably have to weather a downturn or two before I finally make the club, but I will get there.

 

[RobLJ]

Not sure whether this is the reference for the OP's moniker, but I grew up listening to Bob Wills (Granddad lived a stone's throw across the Red River in Oklahoma across from Wichita Falls where Wills started.)

 

[MissMolly]

Aaah yes, I was wondering why that was. Thank you for explaining it

As REW said, good golly Congratulations MissMolly - you are inspiring me! I have a little way to go, and will probably have to weather a downturn or two before I finally make the club, but I will get there.

If I can then I know you can!

 

[MissMolly]

Not sure whether this is the reference for the OP's moniker, but I grew up listening to Bob Wills (Granddad lived a stone's throw across the Red River in Oklahoma across from Wichita Falls where Wills started.)

No, actually Molly was the name of my little Yorkie (see my avatar) who I lost to kidney failure last year. I still miss her every day

 

[Mo Money]

Good for you.

Now, remember, in an (inevitable) downturn it may retreat a bit, but at this point the critical mass is there for you. Any downturns are just your million(s) taking a breather!

Just hold a broadly diversified portfolio and continue to control your spending. It will grow and grow over time -- your own personal endowment.

 

[MissMolly]

Yeah, I know this will happen since I am just barely over the mark, but it will be a bummer when it does.

 

[Major Tom]

If I can then I know you can!

Thanks MissMolly. It's a great feeling isn't it? I'm at a little over 100K south of the $1M mark. It's still quite a lot of money. I'm mostly used to having that sum. Every now and again though, I look at the account balance and have a moment when I look at it and think, "Gosh - that's quite a big number! Is all of that really mine?" Then because, like you, I can't exactly rush out and tell all my friends and neighbors, something in my head silently goes "w00t!"

 

[kcowan]

Good Golly!

sure like to ball

 

[street]

I'm very happy for you.

 

[kevdude]

Congrats Molly! Sure is a nice feeling.

 

[MissMolly]

Thanks MissMolly. It's a great feeling isn't it? I'm at a little over 100K south of the $1M mark. It's still quite a lot of money. I'm mostly used to having that sum. Every now and again though, I look at the account balance and have a moment when I look at it and think, "Gosh - that's quite a big number! Is all of that really mine?" Then because, like you, I can't exactly rush out and tell all my friends and neighbors, something in my head silently goes "w00t!"

I was there at the beginning of this year. Now I am here. If the market continues being kind to us, you will be here next year too! (But I am still consulting and still adding to the stash, so that helps a LOT)

 

[powerplay]

I made it. Today. Finally. I can't believe it I want to shout this from the rooftops but there is nobody I feel comfortable telling. Except you guys (and my husband).

CONGRATULATIONS!!!
What a great feeling and hope you are well on your way to yet another financial milestone soon.

 

[RobbieB]

Good for you, stack that dough high!

 

[GravitySucks]

Congrats!

 

[Pilot2013]

Congratulations! I am in Major Tom's shape, and moving up fast! Over $100k gain in retirement accounts this year!

 

[JPatrick]

Congrats!!
Market days like today are a little easier to face when you have a two comma stash..

 

[MissMolly]

Congratulations! I am in Major Tom's shape, and moving up fast! Over $100k gain in retirement accounts this year!

Yay! It really goes up quickly once the balance gets up there. It's amazing to see what a single day can do!

 

[ScottS]

I reached the 2 comma club about two weeks ago. Unfortunately the final result of my divorce took care of this problem. Sigh.....

 

[MissMolly]

I reached the 2 comma club about two weeks ago. Unfortunately the final result of my divorce took care of this problem. Sigh.....

Sorry for you on many levels

 

[ScottS]

Thanks, MissMolly.
I will do ok, and given some time and a little financial luck I may join it again