Savings Milestone 100k!

[FUEGO]

ooooh Quarter Mill sounds good! How long did it take others to get from $100k to $250k...?

15 months. Roughly April 2006 to June 2007. Obviously a time period where market returns helped a lot. That's net worth, but probably tracks portfolio value very closely as well, given the nature of my finances.

Although 4Q 2008 and 1Q 2009 saw me crossing the quarter mill mark in the other direction. And since then I have crossed back on the up side of the quarter million mark with the value basically doubling since the low point. Marathon, not sprint, marathon, not sprint...

 

[W2R]

ooooh Quarter Mill sounds good! How long did it take others to get from $100k to $250k...?

In my case, 26 months (Feb '04 to April '06), not nearly as long as it took to get from $0K to $100K (for me 72 months) - - you are doing well.

 

[kaneohe]

Congrats!! soon you will have to switch from a linear to a semi-log plot vs time to see all the details way back when you were poor.

 

[Calgary_Girl]

Keep up the good work!

I can't remember how long it took us to reach the $250K mark. Our retirement and taxable accounts just hit the $750K mark this month .

Can't wait to hit the $1 million mark!

 

[jblack]

ooooh Quarter Mill sounds good! How long did it take others to get from $100k to $250k...?

Like most things on these boards a lot of it depends on how/who/when you ask. Liquid investments vs net worth? 1970s or 2000s? Age mid 20s while starting a career or mid 50s at higher earning levels?

The 150% growth can be from raw savings, asset appreciation, or windfalls. If you have very healthy income/savings then you can get there pretty quickly with only modest market growth. Or you can pick the next Google stock at the right time and get there in weeks

So FWIW (not much) DW and I were in our late 20s, had a few things going on (house purchase, her grad school) and were able to get our liquid investments there in ~3 years with decent savings and a diversified AA from 2003-2006. Good luck!

 

[bright eyed]

Like most things on these boards a lot of it depends on how/who/when you ask. Liquid investments vs net worth? 1970s or 2000s? Age mid 20s while starting a career or mid 50s at higher earning levels?

The 150% growth can be from raw savings, asset appreciation, or windfalls. If you have very healthy income/savings then you can get there pretty quickly with only modest market growth. Or you can pick the next Google stock at the right time and get there in weeks

So FWIW (not much) DW and I were in our late 20s, had a few things going on (house purchase, her grad school) and were able to get our liquid investments there in ~3 years with decent savings and a diversified AA from 2003-2006. Good luck!

Def not net worth

I'm accumulating some debt going back to school, so in a couple years will have to slow down contributions to balance out all my obligations, but saving as much as i can now while i don't have to pay...

 

[scrabbler1]

ooooh Quarter Mill sounds good! How long did it take others to get from $100k to $250k...?

The short answer is 3.5 years using all savings, but 6 years if only non-retirement savings are used.

Counting both retirement and non-retirement savings, I got to the 100k mark in early 1995, just before I turned 32. Using only non-retirement savings, I got there in early 1997. Remember, this was the beginning of the bull market of the late 1990s.

Counting both retirement and non-retirement savings, I got to the 250k mark in late 1998, just after I turned 35 (and just after I paid off my mortgage). Using only non-retirement savings, I got there in the middle of 2003, just after I turned 40. The bear market in 2001-2002 slowed me down a bit. I had also stopped working full-time in 2001, working part-time instead.

Counting both retirement and non-retirement savings, I got to the 500k mark in late 2003, just after I turned 40 (in a big part due to my fast-rising company stock). Using only non-retirement savings, I got there in late 2008, just after I turned 45. I cashed out my retirement plan's company stock when I retired last November (at favorable tax rates).

 

[Bimmerbill]

Well, after flirting with 200K for a while before the crash, I'm getting close to flirting with it again. So, even tho its not a quarter of a million, its my next milestone (hopefully!).

 

[Sea Kayaker]

DW and I should hit 250k very early in 2010. I'm embarrassed to admit that we have achieved this solely based on our "LBYM" strategy. Our investments are meagre, mostly in GIC's and the like. Far too much of our money sits in a savings account barely making 1% interest. I made a few forays into a low cost index fund portfolio a few months back and realized I didn't have the stomach for it.

We are able to put about $4500 - $5000 a month into savings: do we need aggressive investments if we can keep this up?

Its amazing what you can do with no kids, a small mortgage and no car payments.

 

[bright eyed]

Wow, totally on a fluke, just checked and am just over $150k now...almost exactly a year later! Yeah!

It's been an incredibly busy year with lots going on with everything - work, life, family etc, and I have missed you all...but trying to check in more lately. I could never do any of this without the sage advice here... Danka!

 

[GoodSense]

Congratulations! Nice progress!!

 

[myself]

Wow, totally on a fluke, just checked and am just over $150k now...almost exactly a year later! Yeah!

It's been an incredibly busy year with lots going on with everything - work, life, family etc, and I have missed you all...but trying to check in more lately. I could never do any of this without the sage advice here... Danka!

Awesome!