Finally reached $500,000

[Neecy]

Thanks to this recent stock rally, I have finally reached the half a million mark:

TSP - Military: $203, 849.83
TSP - Civilian: $122,349.01
Roth: $113,110.89
Savings: 50,090.48
Stocks: $812.52
OPM has $9,000 because I tried to buy my military time, but now I am on active-duty and can't request it back until I retire from the government
Savings 2: $2,062.13

From my $400,000 milestone post in 5/20/15:

TSP - Military: $158,846.27
TSP- Civilian: $91,851.46
IRA: $96,603.20
Savings: $51,470
Savings 2: $3,430.73

I'm single and spent my career in the military and federal government. I also have a Reserve O-5 pension at 60 yrs. I have a rental house with $60-70,000 in equity (did not count in my tally). Woo hoo!

 

[dallas27]

Thanks to this recent stock rally, I have finally reached the half a million mark:



TSP - Military: $203, 849.83

TSP - Civilian: $122,349.01

Roth: $113,110.89

Savings: 50,090.48

Stocks: $812.52

OPM has $9,000 because I tried to buy my military time, but now I am on active-duty and can't request it back until I retire from the government

Savings 2: $2,062.13



From my $400,000 milestone post in 5/20/15:



TSP - Military: $158,846.27

TSP- Civilian: $91,851.46

IRA: $96,603.20

Savings: $51,470

Savings 2: $3,430.73



I'm single and spent my career in the military and federal government. I also have a Reserve O-5 pension at 60 yrs. I have a rental house with $60-70,000 in equity (did not count in my tally). Woo hoo!

Congrats! Was an important number for me psychologically being 1/2 way to a million. Good to know that the money will take you to a million all on its own if you give time.

 

[tps7742]

Congrats!!

 

[GSMAN]

Way to go! Keep it going!

 

[cnocmmz]

Thanks to this recent stock rally, I have finally reached the half a million mark:



TSP - Military: $203, 849.83

TSP - Civilian: $122,349.01

Roth: $113,110.89

Savings: 50,090.48

Stocks: $812.52

OPM has $9,000 because I tried to buy my military time, but now I am on active-duty and can't request it back until I retire from the government

Savings 2: $2,062.13



From my $400,000 milestone post in 5/20/15:



TSP - Military: $158,846.27

TSP- Civilian: $91,851.46

IRA: $96,603.20

Savings: $51,470

Savings 2: $3,430.73



I'm single and spent my career in the military and federal government. I also have a Reserve O-5 pension at 60 yrs. I have a rental house with $60-70,000 in equity (did not count in my tally). Woo hoo!

Congrats that's a great milestone. What age do you think you will be able to retire, and also, what will the 05 pension be at that time?
Again, congrats

 

[street]

Good for you! My half million came and went and never knew when it happened. Lol

 

[Mo Money]

Cheers!

 

[Jerry1]

Congratulations. I am a milestone observer too. In my work 401K, I just hit $600K but then the next day is was $599K. Still, feels good to be saving and hitting some marks.

 

[GalaxyBoy]

Great!

You know what they say: the first half-million is the hardest.

 

[stlguy57]

Great Job! Keep it going. You will be surprised at how fast it starts growing. At least, that's what happened to me.

 

[Neecy]

Congrats that's a great milestone. What age do you think you will be able to retire, and also, what will the 05 pension be at that time?
Again, congrats

Well, I'm 45 right now and hope to do another 3 yrs in the military. If I do, then I will have an active duty pension. I'm on Leave Without Pay from the federal government, so at this moment I have 5 yrs as a government employee. After I finish the military in 2020, I want to return to the government (i have return rights within 5 yrs). I would like work until 57 years old and retire as a federal employee, and then I will have 16 years or wait 4 more years and retire at 61. I guess it depends on how far I reach or tired of working.

I do plan on working forever, but not based on the need to work, just to get out of the house

 

[Neecy]

Thanks everyone! It took forever to reach this point. I hope $1M is around the corner. I think I started man IRA in 1999 with a $2,000 limit. The non-matching TSP for the military began in 2001, so it's been a journey to say the least.

 

[RioIndy]

...Was an important number for me psychologically being 1/2 way to a million. Good to know that the money will take you to a million all on its own if you give time.

Agreed with this. And congrats as well!

 

[brucethebroker]

Nice growth in NW over the last 9 mos or so....

 

[DrRoy]

Great!

You know what they say: the first half-million is the hardest.

+1. On to the second.

 

[Dreamer]

Congrats. You are doing great!

 

[YVRRocketSurgery]

Congrats!
It's always hard starting out as the numbers seem frustratingly small but its surprising how the momentum of compounding kicks your savings nest egg into high gear.

 

[kimcdougc]

Congrats! What a great milestone.

 

[Red Badger]

Retired E-8 here. ~25+ years split about equally between active and reserve. Retiring at 60 this year. Military pension, Tricare, and a modest corp pension will allow me to cruise to 62 with modest draw down of my 401K (~$550,000 current balance). For a few years, I may work part time / seasonal to get out of the house and earn some drinking money.

Good luck on your "march to a million!" Once I'm retired, I will look at moving my 401K to either TSP or Vanguard. Both have best in class low fees.

 

[2035]

[emoji1431][emoji1431][emoji1431][emoji1431] way to go!

 

[euro]

Well done and thanks for your service

 

[cnocmmz]

[emoji1431][emoji1431][emoji1431][emoji1431] way to go!

Good to see a fellow senior enlisted on this forum. Retired E9 active around 13 years ago and been working for US since. Mostly all TSP. Turning 57 in July and hopefully ER at 59. -

 

[Pilot2013]

Good to see a fellow senior enlisted on this forum. Retired E9

Wow! E9's are a rare breed (or at least used to be when my Dad was in the Navy). Congrats!

 

[Nords]

Well, I'm 45 right now and hope to do another 3 yrs in the military. If I do, then I will have an active duty pension. I'm on Leave Without Pay from the federal government, so at this moment I have 5 yrs as a government employee. After I finish the military in 2020, I want to return to the government (i have return rights within 5 yrs). I would like work until 57 years old and retire as a federal employee, and then I will have 16 years or wait 4 more years and retire at 61. I guess it depends on how far I reach or tired of working.

I do plan on working forever, but not based on the need to work, just to get out of the house

Thanks for the update, Neecy-- it's great to see the good guys win one every now and then!

And congratulations on all of your progress. Exponential growth will be much easier to detect from this point on...

 

[mistershankly]

Exponential growth will be much easier to detect from this point on...

Nords, this is encouraging to read. My DW and I also just passed the $500k mark and it felt like a grind reaching that point. I'm curious as to how long it takes most people to hit $1mil while keeping up their savings rate and the market staying on the upwards trajectory in the long term. I know there are too many variables to consider but could $500k be doubled in 5-7 years under "normal" circumstances?

Congrats to the OP for the $500k milestone!