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Old 12-06-2020, 01:34 AM   #61
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For those who suggested the OP to find a partner. I sort of understand the desire of having someone to share life with. But is it that urgent? I would say keep saving and investing with a new goal. For example: get enough to buy a house with cash and still have 1m net worth excluding the real state.
I would keep accumulating wealth until 40 to have over 2million+ net worth and by then start to slow down.
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Old 12-06-2020, 02:15 AM   #62
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Congrats, OP. I remember reaching that wonderful milestone in my 40s. My wife and I started to get serious about FIRE when I was 37, so it was a welcome event! I remember checking our accounts early in the morning because we were riding very close to the $1M mark for a week or so, and voila, there it was. I woke up my wife and congratulated her on her new status as a millionaire! The memory still warms my heart!

We saved like mad people once we started to get serious. We cut every conceivable expense that we could with the idea of "reducing the cost of our infrastructure." It really helped to motivate us. I would, for example, calculate the value in the future of forgoing something like one trip to a café for two coffees. Then, we would use that rubric to forestall some (not all) desires to spend on such elective things.

We also lived in a city and went car free, using public transportation and renting a vehicle when we needed one. Finally, we treated "the plan" for eventual early retirement as sacred and always kept it front of mind. We joke that it had become a third person in our marriage :-) That said, we allowed ourselves a reasonable amount of travel, seeking experiences as the only truly valuable and sustaining possessions.

We achieved our goals before age 60 and it was fun to celebrate our second million in those years leading up to FIRE.

Best of luck on your road to number 2!

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Old 12-06-2020, 05:16 AM   #63
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Very cool. And you know what? The second million is easier.
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Old 12-06-2020, 05:33 AM   #64
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Originally Posted by RioIndy View Post
I just needed to share this, as I am feeling quite emotional

I finally did it. My net worth reached 1 Million. The magic symbolic number. $1,003,000 to be precise. As of this morning, at the age of 33, I am, officially, a MILLIONAIRE!
Congratulations!!!
It's a wonderful feeling. I reached Millionaire status this year as well. Hopefully, like others here have mentioned, the first million is the hardest and it gets easier from here.
Again, great job!
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Old 12-07-2020, 07:35 AM   #65
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Congrats.
I like to joke that I could barely tie my shoes when I was 18 and didn't even start saving towards ER until age 31 but still managed to semi retire at 48 and fully at 54.
You are way ahead and I would do as others have mentioned and start living a little and let the magic of compounding work.
Not suggesting being foolhardy just to enjoy the ride as much as the destination.
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Old 12-08-2020, 04:48 PM   #66
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Congratulations. Similar age for my first million. Wish you continued prosperity...add another digit soon.
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Old 12-08-2020, 05:27 PM   #67
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Cool Beans... enjoy it...
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Old 12-08-2020, 05:31 PM   #68
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Congrats, that's a great accomplishment at such a young age. Keep up with the frugality and many more are surely to come.
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Old 12-08-2020, 06:13 PM   #69
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Very cool. And you know what? The second million is easier.
To me to hit $2M was definitely faster so no issues here!
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Old 12-08-2020, 06:14 PM   #70
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Way 2 go!
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Old 12-08-2020, 06:48 PM   #71
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Congrats! Definitely a good feeling milestone to hit!
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Old 12-08-2020, 07:24 PM   #72
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Dance party!!

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Old 12-08-2020, 08:53 PM   #73
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Congratulations, job well done! What was your biggest sacrifice?

Now is the time to find a wife because as you get older it gets MUCH tougher.
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Old 12-08-2020, 11:23 PM   #74
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Originally Posted by RioIndy View Post
I just needed to share this, as I am feeling quite emotional

I finally did it. My net worth reached 1 Million. The magic symbolic number. $1,003,000 to be precise. As of this morning, at the age of 33, I am, officially, a MILLIONAIRE!

It took SO much work, and SO many sacrifices to get here. Honestly a lot more sacrifice than I could ever have imagined . I gave up almost the entirety of my 20's throwing everything at my career while living extremely cheaply.

And I did this entirely on my own. I am actually worth more than both my parents and my siblings combined, and that's considering that I've made hundreds of thousands for them (I manage the family's finances and invest for them).

I come from a lower-middle class family. I have been financially entirely on my own since I was 18 and paid for my own university. (I would have loved to have met a significant other early on so that this could be something that we build together, but I was not that lucky.)

I could actually have reached it years earlier but had several setbacks along the way. Even in the last few months I came to within 25K of that magic number on 3 serapate occasions.

I was just seeing that my first post in this forum was 9 years ago when I had made my first 100K : https://www.early-retirement.org/for...ork-58848.html

This forum has been a nice oasis for people who share the same FIRE mentality and aspirations. Thank you all
Congrats. How did you accomplish this goal so fast?
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Old 12-08-2020, 11:48 PM   #75
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Good job! Wish I’d figured it out at your age! Well, actually I did and then lost it all in a bad divorce and had to start all over again.
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Old 12-09-2020, 12:54 AM   #76
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Impressive!!
Congratulations!


Now that you hit this milestone the compounding will work for you much faster. I agree with the others, try to enjoy your life a little more with not as many sacrifices. Make sure you don't delay all your experiences til a later day that may never come. Balance in everything.


Enjoy your holiday!
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Old 12-09-2020, 10:03 AM   #77
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Its a wonderful feeling...congrats!
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Old 12-09-2020, 01:23 PM   #78
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Great job!
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Old 12-10-2020, 04:56 PM   #79
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Congratulations... What was your biggest sacrifice?
Quote:
Originally Posted by F.I.R.E User View Post
Congrats.... How did you accomplish this goal so fast?
To answer both questions:

I started with nothing and paid my own way through university. Graduated during that awful Great Recession of 2009 (worst year to graduate in a very long time! ). But I eventually became a specialist engineer that would be sent to various remote (and dangerous!) locations all over the world. In one year I did over 300 working days out of the country, and all of those days were minimum 12-hour working days (I sometimes did 24-hour shifts) . Basically I was a zombie for several years for that six figure paycheck. It wasn't actually making that high of an hourly wage, since I was doing a heck of a lot of hours, but it was a big paycheck none-the-less.

Then I lived VERY frugally, saving a lot of my income, and taught myself how to invest those savings. I actually switched careers a couple times at this point, but that's the gist of it.

(And I actually do have a partner, though they have not had any bearing on me reaching this goal. If anything, relationships greatly slowed down my progress. There's just been struggles and we need to figure out if we are going to be a great "team" for the long haul or not.)

Thanks again everyone for the words of encouragement
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Old 12-10-2020, 05:13 PM   #80
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I remember in 1994, I think, my Milan business trip hotel bill being over a million Lira! That was something.
Yep, and in all my planning scenarios, this outcome worries me the most (because it is the most difficult to plan for).
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