Big Milestone - $3M

[brokrken]

On 9/02/20 I posted a thread titled "Small Milestone - $2M" and here we are less than 15 months later and I've hit the $3M mark (not including real estate equity). I am both humbled and amazed at this performance. When I started this FIRE journey 11/12 years ago my goal was to hit $3M and retire at 55. I'm 44 now and the plan now is to still work until our daughter graduates high school in 3.5 years. We are under contract on a vacation home in North Carolina that we'll use to get acquainted with the area between now and then. So, actually this $3M will come down in a few weeks when some of that gets transfered to real estate equity.

As I said in the previous post, a lot of credit has to go to you all for the wise words and encouragement. That's much appreciated and keep 'em coming!

 

[disneysteve]

Congratulations! That is a BIG milestone. And achieving it so far ahead of schedule is impressive. Enjoy that vacation home. And enjoy watching that number continue to grow.

 

[Love This Community]

Congratulations brokrken!! It is indeed a big milestone at 44. All the best for your vacation home and many more milestones in the years to come.

 

[Major Tom]

My gosh, that's fantastic - and at your age too! You're in great shape. There are very few people for whom $3M is not a significant chunk of change. Whatever curveballs life may throw at you in the future, it looks as if money worries will not be be one of them.

 

[street]

^ X2.

 

[NW-Bound]

Congrats. The 1st million is the hardest.

I was barely at that mark when I was 40, not counting RE.

 

[chassis]

On 9/02/20 I posted a thread titled "Small Milestone - $2M" and here we are less than 15 months later and I've hit the $3M mark (not including real estate equity). I am both humbled and amazed at this performance. When I started this FIRE journey 11/12 years ago my goal was to hit $3M and retire at 55. I'm 44 now and the plan now is to still work until our daughter graduates high school in 3.5 years. We are under contract on a vacation home in North Carolina that we'll use to get acquainted with the area between now and then. So, actually this $3M will come down in a few weeks when some of that gets transfered to real estate equity.

As I said in the previous post, a lot of credit has to go to you all for the wise words and encouragement. That's much appreciated and keep 'em coming!

Congratulations!

 

[Dtail]

Congrats. You are on your way to early retirement.

 

[Dean56]

That's incredible!! This bull market has been good to many of us.
Enjoy the new vacation home.

 

[Ronstar]

Congrats!

 

[Extra Medium]

Way to go!

That’s fantastic news. I hope to follow you in a few years. I appreciate the inspiration, in addition to your own rewards!

 

[Magus]

Congrats!

I'd definitely include your home equity though for net worth!

 

[Dash man]

Congratulations! I hit $3M at 56 and retired. Best decision I ever made next to my wife and sons.
Enjoy!

 

[brokrken]

Thanks everyone. Much appreciated!

 

[brokrken]

Congrats!

I'd definitely include your home equity though for net worth!

Magus, I include it when I'm talking total net worth, but when talking about retirement savings, I exclude it, as I have to have somewhere to live and can't rely on the real estate equity for my cash flow needs.

 

[Ronsbusa3]

Congrats... my wife and I just retired in March and moved to North Carolina. I was 50 and she was 48. Where in NC is vacation home? We are living near Lake Norman.

 

[FREE866]

That's a lot of rice and beans! Congrats!

 

[BackHometown]

Congratulations! 3M is my next target. Hopefully I can get it by 2023

 

[RobbieB]

Lack of mortgage payments are helping much with my cash flow needs -

 

[RxMan]

Congrats and welcome to NC!

 

[Vincenzo Corleone]

Wow, that's great! Congratulations!

 

[Another Reader]

Lack of mortgage payments are helping much with my cash flow needs -

Guessing your property taxes are low too. Gotta love Prop 13...

 

[RobbieB]

Yeah, $2350 on a 600 grand property -

 

[37andhappy]

On 9/02/20 I posted a thread titled "Small Milestone - $2M" and here we are less than 15 months later and I've hit the $3M mark (not including real estate equity). I am both humbled and amazed at this performance. When I started this FIRE journey 11/12 years ago my goal was to hit $3M and retire at 55. I'm 44 now and the plan now is to still work until our daughter graduates high school in 3.5 years. We are under contract on a vacation home in North Carolina that we'll use to get acquainted with the area between now and then. So, actually this $3M will come down in a few weeks when some of that gets transfered to real estate equity.

As I said in the previous post, a lot of credit has to go to you all for the wise words and encouragement. That's much appreciated and keep 'em coming!

Well done. One note on calculating net wealth, I would include any equity (including real estate). Ultimately, whether you live in the property (or rent it) there is both a benefit and an opportunity costs of other income you could be getting from that equity. A good way of looking at it is that you are essentially "renting" with you being your own tenant.

Out of interest, what is the net yield you are earning on your 3m?

 

[OverThinkMuch]

The 1st million is the hardest.

To steal an interaction from twitter:
"The First Billion Is the Hardest"
- said by T. Boone Pickens, which is also the title of a book he wrote.