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Old 04-17-2021, 09:54 PM   #41
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I'm just amazed at how smart I am because I know there is no such thing as luck.
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Old 04-17-2021, 10:00 PM   #42
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I'm just amazed at how smart I am because I know there is no such thing as luck.
luck, chance, kismet, karma, opportunities, choices made that set other actions in motion (a butterfly flapping its wings leading to a hurricane)...call it what you will but it does play a part in all of our lives.

i do know one thing is true...the older i get the smarter my folks become.
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Old 04-17-2021, 10:12 PM   #43
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I'm just amazed at how smart I am because I know there is no such thing as luck.
i disagree , i think my skill is knowing how lucky i am ( now and in the past )

in relation to the OP

NO
i think i need to double what i have ( but don't put a $value on property , i value that on income minus costs )
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Yep, absolutely.
Old 04-17-2021, 10:33 PM   #44
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Yep, absolutely.

I think the same thing, when I look at our portfolio and think, how the heck did that happen, and squint my eyes to make sure I'm looking at the numbers right. Then I think back to when we bought a house in 1999, had basically zero net worth....and in 21 years, we accumulated a ridiculous level of net worth, with no crazy schemes, no options, no individual stocks, simply index ETF's, and being prudent and having a wife that is low maintenance, and now we are both retired at 55.
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Old 04-17-2021, 11:30 PM   #45
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Only when I look at what I have now compared to the negative net worth I had as a college graduate in 1982

"Well, how did I get here?"

https://www.bing.com/videos/search?q...A1%26PC%3dHCTS
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Old 04-18-2021, 12:47 AM   #46
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Yes. And although we worked at it saving, investing and LBYMing, we’re not self-congratulatory about it - there was some luck involved (for all of us). We did much better financially than our expectations when all is said and done, but it isn’t over yet...there are still no guarantees, just probability. We hope for the best, but we know it could all go pear shaped before the finish line.
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Old 04-18-2021, 01:42 AM   #47
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To the OP's question....yes, absolutely.

I'm still working but we blew through our number a while back. With the market run-up, we've now also blown through our charity target and put money aside to help family. I'm contractually obligated to work a bit longer so we've added a beach house to the plan. If I decide to go past the current contract, I have no idea what we'll do with the money.

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But let's face it, during that time, there hasnít been an Ďextendedí truly painful bear market.
Combine that with the federal reserve & their equivalents around the world, playing the zero interest rate game, & you have the financial markets without any competition.

Something tells me it will be very hard to match the previous 40 year market returns, in the following 40.


I was thinking this exact same thing. I believe the underlying economic engine is still primed for long term growth, but substantially different government policies could really change how easy it is to create wealth.
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It is astounding
Old 04-18-2021, 04:10 AM   #48
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It is astounding

But there are 2 key things:

watching what we spend (which is even better than making more, since an extra dollar of income is taxed and nets to less, while a dollar saved is untaxed)

investing wisely--even with some bumps along the way stocks have been money making machines--As much as we have saved, the unrealized capital gains are well over half our balances, which has greatly inflated our net worth.
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Old 04-18-2021, 04:17 AM   #49
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Hardly a day goes by I don't look at our Net Worth and say WTF.

Like may others in this thread we got here through meticulous planning and some luck. But here we are so now the job is to do some good in the world and not just become some rich jerk.

I try and stay humble but its hard not to pat yourself on the back a bit. I just do it in private.
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Old 04-18-2021, 04:55 AM   #50
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Yeah, I can stand back and say "wow". But I also know exactly how I got here: hard work, career progressions, lucky to be born when I was, happened to choose a field that turned out to be well-paying, good health, lucky to invest during an epic bull market, company stock options/RSU's/bonuses, Saving 100% of DW's salary while living off of mine until the point where we had our only kid and DW switched to SAH.

I do recall certain milestones, like when our savings went over 6 figures the first time (I say "the first time" because it bounced around quite a bit and, yeah, there was 2008). I also remember the first time our portfolio grew more in a year than my year's salary.

That's not to say I couldn't have done better, sooner. I most certainly could have learned more about investing sooner than I did, but I simply wasn't interested when I was younger as retirement seemed so far away. I invested, sure, but it was haphazard and without a real plan. And I made one career move that would have been life altering by leaving a startup company a year before it went public because I was convinced that it was not even going to survive another year. And I've been layed off from work a few times, though almost every time I saw it coming and already had the next gig lined up before I was notified. And I usually made significant money in the process between severance packages and sign-on bonuses. Not all rosy as there was one time in 2012-13 where I was between jobs for 10 months and was seriously starting to wonder if I had been chosen to be an earlier retiree than I had planned. But we had already done all of the right things and were able to weather it till the next job finally did come along. And now if they show me the door, I'm done. Though I'd really prefer that it happen after summer 2022 when a significant number of RSU's vest.

Real life is messy and success is always going to be a combination of skill, hard work, and luck.

Cheers.
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Old 04-18-2021, 06:27 AM   #51
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I think the same thing, when I look at our portfolio and think, how the heck did that happen, and squint my eyes to make sure I'm looking at the numbers right.
Same! This disbelief - this feeling of "this is too good to be true" - is what's causing me to pore over our numbers EVERY. SINGLE. DAY. I'm waiting to find a mistake one day.
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Old 04-18-2021, 06:38 AM   #52
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I do, then I read this site and realize that I am a slacker.
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Old 04-18-2021, 06:53 AM   #53
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I always believed I would have a good saving when I reached retirement age. I knew that because I worked hard for that goal and it was my main focus to have a large stash. (Opportunity, took risks, had goals, saved no matter what, was frugal).

When I started my career in late 70's and into early 80's I was making less the (11K gross) a year and things gradually went up. I was saving money like crazy and considered myself as a wealthy dude! Lol

What does surprises me thou, is the amount that has been accumulated. Save and the rest will take care of itself.

I really enjoyed the many success stories and your responses.
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Old 04-18-2021, 07:10 AM   #54
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Been planning since early 20’s but still amazed. Met with my financial adviser who asked”so what is your plan/goal with what you have accumulated”. he gave us a goal to figure out how to spend more! This is the guy who makes more if we have more.
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Old 04-18-2021, 12:46 PM   #55
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Been planning since early 20ís ......
Wow, you must be over a hundred years old.
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Anyone wake up and say "How did I accumulate so much?"
Old 04-18-2021, 01:30 PM   #56
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Anyone wake up and say "How did I accumulate so much?"

Nope. I know perfectly well how I accumulated what I have. I planned, worked hard, and was lucky enough to retire into a good SORR back in 2009. The market has done nothing but boom.

I do sometimes wake up and say, "When will the market plummet again like it did in 2008-2009?". One of these days this market boom will be over. You know it, and I know it. Got to happen eventually. The market giveth, and the market taketh away.

When that happens, I won't awaken and wonder "Where the H*** did it all go?" I'll know.
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Old 04-18-2021, 01:36 PM   #57
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No.
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Old 04-18-2021, 03:03 PM   #58
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No. I know exactly how I accumulated all the stuff. The hard part is to decumulate.
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Old 04-18-2021, 03:05 PM   #59
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Not yet....
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Old 04-18-2021, 03:38 PM   #60
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i disagree , i think my skill is knowing how lucky i am ( now and in the past )

in relation to the OP

NO
i think i need to double what i have ( but don't put a $value on property , i value that on income minus costs )
Ah, you are still not used to @Travelover's sense of humor.
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