A decade later - finally hitting $1 Million!

[CamasSaver]

Wow! So much has gone on in a decade since I first explored this forum in 2013 to help give me hope and some resources to build toward a goal of retirement savings.
Reading my own post was rewarding as well and to see how far I’ve come.
I recently set up a quicken simplify for account and asset management over the thanksgiving holidays and that too will help me further stay on track.

I have gone from $100K in October 2013 and being upside down in our home value with high interest rate to now in a much better situation and pleased to share that we have exceeded $1 Million in net worth and with having recently having our two oldest daughters marriages within 9 months of each other.
Our youngest daughter is in nursing school at university of Arizona and will be a senior in January so one more year to help her with school and we will be in even better shape to save more.

$1 Million really feels good to finally see!

 

[VanWinkle]

A great story of your trip to financial freedom and retirement!!

Congrats on all you have done so far.

VW

 

[wmc1000]

Great job!!!!

 

[MarieIG]

You have made wonderful progress CamasSaver - both personally and financially!

Thanks for the update.

 

[pacergal]

Great update, congratulations!

 

[CamasSaver]

Thank you. It’s been a journey for sure and some ups and downs especially with the financial impact of pandemic and market swings so in taking all into account I feel truly blessed. I have budgeted to max out 401K, Roth and my HSA this coming year.

 

[Jerry1]

Congratulations. They say a Million isn’t what it used to be, but it’s still one very cool number. As a practical matter, $1M plus SS, especially in a two earner situation, can secure a comfortable retirement.

 

[gauss]

The first Million is usually the hardest and longest to achieve.
After that, the rate can pick up.

-gauss

 

[oldtimer]

Welcome to the 2 comma club.

 

[street]

Outstanding!!! Keep ah pulling away ER will be just around the corner.

 

[Gumby]

I love to hear about people who succeed at this FIRE stuff.

 

[Dtail]

Congrats. How far away is FIRE for you?

 

[aaronc879]

Wow! So much has gone on in a decade since I first explored this forum in 2013 to help give me hope and some resources to build toward a goal of retirement savings.
Reading my own post was rewarding as well and to see how far I’ve come.
I recently set up a quicken simplify for account and asset management over the thanksgiving holidays and that too will help me further stay on track.

I have gone from $100K in October 2013 and being upside down in our home value with high interest rate to now in a much better situation and pleased to share that we have exceeded $1 Million in net worth and with having recently having our two oldest daughters marriages within 9 months of each other.
Our youngest daughter is in nursing school at university of Arizona and will be a senior in January so one more year to help her with school and we will be in even better shape to save more.

$1 Million really feels good to finally see!

Is a lot of that in the form of home equity? I had over $100K in 2013 and still have barely $300K in investable net worth in 2023. Of course I have made very little money in the last 10 years so if you are a 6-figure earner then that would make a big difference.

 

[Dean56]

That's a wonderful update. Congratulations!!!

"Pay yourself first" is a phrase that Clark Howard always preaches.

 

[frayne]

Great job, one million is a milestone for sure.

 

[dmpi]

Wow. Good job. Impressive.

 

[38Chevy454]

Nice update. Even though the buying power if $1M has been eroded, it is still a significant milestone and you are better prepared for retirement than most people. Keep working on building up the investment savings part of your net worth. Those are what will help you have a successful retirement.

 

[Surewhitey]

1 mil is definitely a big deal. I bet your daughters have learned by your example.
Our first took us 15 years (raising & married daughter). Our last only took 5.5 years... Definitely quicker for your next.

 

[LateToFIRE]

Congrats! That first million is absolutely definitely the hardest. From here, assuming you remain on present lifestyle path, law of compounding should accelerate you to the next level.

 

[2017ish]

To repeat, CONGRATS!

You had a plan and worked the plan. As others have said, a million is still significant, and puts you in a great position going forward.

 

[COcheesehead]

Good job, the second, third, fourth, fifth, etc …comes quicker.

 

[racy]

Congratulations!
One thing I found interesting was the impact of fees on my portfolio growth. John Bogle coined the term "the tyranny of compounding costs". PBS did a segment on this. Here is a chart giving an example: https://www.pbs.org/wgbh/pages/frontline/retirement/etc/tyranny.html

 

[DrRoy]

Well done.

 

[Ronstar]

Congrats!!

 

[target2019]

Wow! So much has gone on in a decade since I first explored this forum in 2013 to help give me hope and some resources to build toward a goal of retirement savings.
Reading my own post was rewarding as well and to see how far I’ve come.
I recently set up a quicken simplify for account and asset management over the thanksgiving holidays and that too will help me further stay on track.

I have gone from $100K in October 2013 and being upside down in our home value with high interest rate to now in a much better situation and pleased to share that we have exceeded $1 Million in net worth and with having recently having our two oldest daughters marriages within 9 months of each other.
Our youngest daughter is in nursing school at university of Arizona and will be a senior in January so one more year to help her with school and we will be in even better shape to save more.

$1 Million really feels good to finally see!

My join date was 12-30-2008. Growth since then has been very good for us.

We have a built-in nurse too. What a godsend. Married Jan 2022, she's getting ready to deliver any day now.

We visit our son yearly, in one location or another around the world. Great trips there.

Yes, the years of higher education do pay off for all.

Great to hear about your milestones!