Huge Milestone - $5M!!

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brokrken

Full time employment: Posting here.
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As of yesterday's close, our NW excluding real estate crossed the $5M mark. Figured I should post this now because it looks like we'll drop below after today. :ROFLMAO: I have to pinch myself as I think back to where we started back in '09 with a couple hundred grand. Unfortunately, my FIRE date keeps getting pushed back. The long term incentives/stock at work are just too much to walk away from in good conscience. Currently aiming for April 2028.

Thanks to all on here who's wisdom has helped lead me down the straight and narrow for the last 10 or so years. Hoping I can post a $6M at some point!
 
Congratulations on your "first $5 Mil."

Only suggestion is to pick a number that you would say (without hesitation) "We now have 'enough'". Otherwise, there will likely always be one more incentive or stock option or promotion that will keep you right where you are.

Of course, if you're digging your current assignment more than FIRE freedom - by all means enjoy the rest of your c@reer. Quit when you're no longer enjoying it.

Thanks for sharing your good news with us.
 
Congrats on the huge milestone! 🥳

brokrken said:
Hoping I can post a $6M at some point!
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Oh, it will happen and sooner than you might think. All you need is a further 20% rise in the markets (assuming you're fully invested). And FWIW, it seems to me that around $6M is where spending one's entire "safe annual withdrawal" every year starts to become a bit challenging in a weird way. You start to realize that your NW is acting like a runaway freight train despite spending more than you ever thought you would need or want to.
This is where the Die With Zero mentality can be very helpful in easing one's mind about spending liberally while you're still in your "go go" years.
 
brokrken said:
...Hoping I can post a $6M at some point!
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Congratuations! Here is to hoping that you can wrestle out of those golden handcuffs early enough to spend and enjoy it!

At an 8% average annual rate of return and no additions or withdrawals, your $5m should grow to $6m in less than 2-1/2 years!
 
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First thing...congrats that's an amazing amount of money. You have done very well.

Second thing....what are you waiting for. Time is the only thing you can't get more of at this point. Your money will continue to grow without hardly any effort on your part. You could have a million dollar emergency fund and still have 4 million growing. Get out of the rat race now. You have won the game.
Tomorrow is not a given for anyone. 15 minutes into my retirement on my way home from my last day of work I was almost taken out by a driver coming from the opposite way turn left in front of me. Wham WTF....we did all that planning and delayed then this...sh** happens.
You have the opportunity to choose whatever you want to do tomorrow and for the rest of your life. Do it while you are healthy and can do anything you want.
It's Friday the perfect day to give notice! I remember being excited about Fridays that the weekend was finally here. Once you retire every day is the weekend!!!!!!!! It's the best even if it's just waking up when you want to and where you want to.
 
JohnnyPHX said:
...Tomorrow is not a given for anyone. 15 minutes into my retirement on my way home from my last day of work I was almost taken out by a driver coming from the opposite way turn left in front of me. Wham WTF....we did all that planning and delayed then this...sh** happens.
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We had a relative of modest means who scrimped and saved for "his retirement". Let's than a year later he dropped dead of a heart attack while mowing his lawn when I was a freshman in college. It was sad.
 
pb4uski said:
We had a relative of modest means who scrimped and saved for "his retirement". Let's than a year later he dropped dead of a heart attack while mowing his lawn when I was a freshman in college. It was sad.
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Yes so sad when we lose people unexpectedly like that. We had the best neighbor you could ever ask for. Nicest guy ever. He had a home in Ohio and a home across the street from us here in Phoenix. He was an account and knew he had plenty to retire but still worked part time till a few years before his untimely passing at 78. He was a car guy and living the life with his car buddies until his passing. When I look out my front window across the street and see his house I am reminded to appreciate every day and that even with our modest $$$ we are thankful we retired a little early!!!!
Waited too long so no Mount Everest climbs for us but a walk around the neighborhood in the morning after most have gone off to work is pretty wonderful.
Don't delay too long... otherwise others will be spending your hard earned money.
 
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brokrken said:
As of yesterday's close, our NW excluding real estate crossed the $5M mark. Figured I should post this now because it looks like we'll drop below after today. :ROFLMAO: I have to pinch myself as I think back to where we started back in '09 with a couple hundred grand. Unfortunately, my FIRE date keeps getting pushed back. The long term incentives/stock at work are just too much to walk away from in good conscience. Currently aiming for April 2028.

Thanks to all on here who's wisdom has helped lead me down the straight and narrow for the last 10 or so years. Hoping I can post a $6M at some point!
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Congratulations, it's a huge accomplishment.

We hit it last year in July and I remember just throwing my fist in the air and "yes." A little later it really hit me and I got very emotional. No idea why that number did what it did to me, but man, it did.

Very happy for you and your accomplishment.
 
I'm very happy for you. You have done well and are in a class that not many can be part of. Thanks for sharing that milestone with us.
 
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This discussion made me think of this Kurt Vonnegut "poem":

True story, Word of Honor:
Joseph Heller, an important and funny writer now dead,
and I were at a party
given by a billionaire
on Shelter Island.
I said, “Joe, how does it make you feel
to know that our host only yesterday
may have made more money
than your novel ‘Catch-22’
has earned in its entire history?”
And Joe said, “I’ve got something he can never have.”
And I said, “What on earth could that be, Joe?”
And Joe said, “The knowledge that I’ve got enough.”
Not bad! Rest in peace!”
— Kurt Vonnegut
The New Yorker, May 16th, 2005
 
brokrken said:
The long term incentives/stock at work are just too much to walk away from in good conscience. Currently aiming for April 2028.
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It's indeed hard to walk away from money. That's something an individual has to decide for himself.

Sojourner said:
You start to realize that your NW is acting like a runaway freight train...
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Recently, the market makes me feel the same. Instead of rejoicing, I have the apprehension that something like the following may happen. :)

merlin_187869822_e7db86be-77a1-43b3-ad8a-9fabf0b867ca-superJumbo.jpg
 
Congrats! Big milestone!

Just remember what Benjamin Franklin said, "Money never made a man happy yet, nor will it. There is nothing in its nature to produce happiness. The more a man has, the more he wants," It highlights that wealth does not inherently generate lasting fulfillment, as increased, money often leads to greater desires rather than satisfaction.
 
Congratulations on $5 mil! 10's just right around the next couple of corners.
 
Congrats on the huge milestone.

I too was concerned when I saw the phrase "The long term incentives/stock at work are just too much to walk away from in good conscience". However, I was less concerned when I saw the phrase "..where we started back in '09 with a couple hundred grand." and I realized you might only be in your mid-40's with 4 young kids, etc. Only you know how much of a cushion you want/or need, but do get out when it is time as there will always be money left on the table that could easily be yours.
 
Congrats on the milestone. As others have said, it will start snowballing and you will increase quicker than you thought.

Just remember the old saying - if you don't spend it, your heirs will.
 
brokrken said:
As of yesterday's close, our NW excluding real estate crossed the $5M mark. Figured I should post this now because it looks like we'll drop below after today. :ROFLMAO: I have to pinch myself as I think back to where we started back in '09 with a couple hundred grand. Unfortunately, my FIRE date keeps getting pushed back. The long term incentives/stock at work are just too much to walk away from in good conscience. Currently aiming for April 2028.

Thanks to all on here who's wisdom has helped lead me down the straight and narrow for the last 10 or so years. Hoping I can post a $6M at some point!
Click to expand...
Congrats on the milestone!. At 62 I walked away leaving 20% of my stash in options and grants ( I questioned my decision many times). My encouragement was 1) I felt like I had enough money 2) my family was having serious health issues and I was the only real caregiver for (mom and brother) and 3) my kids were producing GK's. Soon after I called it quits, my kids needed me for some serious issues. I never saw that coming but was given the grace to be there for them. If you love the work milk it as long as you can but realize that money cant buy the time. You will know when it's time (no-one else). In the meantime set your NW goal as high as you want ( over the $5MM) and always know you will have more than that.... simply thru compounding. Your growth from a few K to M's are intoxicating and impressive. Trust your gut, thats what got you there. I will turn 70 next week and have more dollars now than then (and we spend more dollars than planned, love more than expected, and learn new things daily). You are blessed to have the choices you have. Dont worry April of 2028 is not too long to wait. Enjoy the rising tide. Congrats again!!!!
 
Sojourner said:
where spending one's entire "safe annual withdrawal" every year starts to become a bit challenging in a weird way.
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Guess I'm an outlier...we have no problem spending. Although I'm only 2 1/2 years into retirement and have expensive hobbies and expensive travel habits. All good - my income keeps going up every year thus far so I'm happy.
 
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