Share Your FIRE Milestones - 2021

[F.I.R.E User]

Not that I would recommend it, but if you really wanted to guarantee millionaire status by 50, you could just throw your entire portfolio into a 4 year CD that pays out 5%. That'll net you about $950k on just your current portfolio, then add your annual contributions ($42.5k x 4 = $170K) and you'll get there. Just math haha.

I know but I am not desperate to reach that status. I will stay the course.

 

[FedRetired50]

I wanted to hear from others.

Multiple people responded before, and this was my own first reply to your question. The math doesn't change from $777k to $781k, when you are looking at a long-term estimate. Markets average 9% gross annual long-term, and let's assume you pre-load your contributions:

Age 46: $781000
Age 47: (781000 + 42500) x 1.09 = $897615 (if you contribute at the end of the year you have $893k for comparison)
Age 48: (897615 + 42500) x 1.09 = $1024725
etc for age 49 to 50

 

[Kork13]

With recent market gains & continued contributions, our total net worth has crossed the $2M mark! We might bubble above/below a bit depending on what happens with markets, but we're officially multimillionaires.

We could likely be considered FI around now, but I become eligible for an (immediate, federal, COLA'd) pension in about 4 years, which paired with DW's smaller pension, will cover all of our basic needs. Our target is $2.5M + pensions for an easy FIRE (or at least the option to do so). We'll be 41/42 at that point, so undecided exactly what/when we'll actually punch out, but knowing that we're closing in to having the option is exciting!

 

[Dtail]

With recent market gains & continued contributions, our total net worth has crossed the $2M mark! We might bubble above/below a bit depending on what happens with markets, but we're officially multimillionaires.

We could likely be considered FI around now, but I become eligible for an (immediate, federal, COLA'd) pension in about 4 years, which paired with DW's smaller pension, will cover all of our basic needs. Our target is $2.5M + pensions for an easy FIRE (or at least the option to do so). We'll be 41/42 at that point, so undecided exactly what/when we'll actually punch out, but knowing that we're closing in to having the option is exciting!

Very nice. You are on your way.

 

[F.I.R.E User]

$783,000 all-time. Empower update. It’s way faster than Mint.

Age: 46. No RE.

 

[Lawrencewendall]

Projected dividends/distributions by FIDO will exceed projected expenses by a significant margin.

 

[F.I.R.E User]

How do you get your numbers updated so quickly? My numbers usually come in staggered, with some assets showing the latest value right at the 4pm close (online brokerage), but with everything else, and most of the rest updated by around 6:30pm. However, I have a 401k with Schwab, that doesn't update until the following morning. It could update at midnight for all I know; but I'm usually sound asleep at that time.

Refresh Empower. Apparently it does it multiple times a day. Final numbers will be updated by tomorrow.

 

[Andre1969]

Refresh Empower. Apparently it does it multiple times a day. Final numbers will be updated by tomorrow.

Wow, you're quick on the draw! I had just deleted that message, because I noticed you had posted it at 6pm, and some companies do get their numbers updated before then. For some reason I was thinking you had posted it earlier than that!

I've noticed that Fidelity usually has their numbers updated by around 5:30 pm. American Century sometimes gets it in just before 6. Janus is usually between 6-6:30. I have a Schwab rollover IRA that's usually updated by around 6:30 as well, and then the 401k that updates by the next morning.

 

[F.I.R.E User]

Wow, you're quick on the draw! I had just deleted that message, because I noticed you had posted it at 6pm, and some companies do get their numbers updated before then. For some reason I was thinking you had posted it earlier than that!

I've noticed that Fidelity usually has their numbers updated by around 5:30 pm. American Century sometimes gets it in just before 6. Janus is usually between 6-6:30. I have a Schwab rollover IRA that's usually updated by around 6:30 as well, and then the 401k that updates by the next morning.

I have Fidelity and Vanguard.

 

[NgineER]

$783,000 all-time. Empower update. It’s way faster than Mint.

Age: 46. No RE.

I’m sorry-I finally have to say it. I haven’t counted, but it feels like you’ve posted lots of all time highs in this thread. While it is great that the markets are going up, I can’t imagine that every new all time high is a milestone. I think the next milestone worth posting for you would be $800k, $900k and the finally your $1M (hopefully and likely before 50). Every single all time high is not a milestone is it?
Or post it in your own thread as often as you want and I’ll put it on ignore. Sorry to be blunt but this thread is for milestone not daily account updates.

 

[F.I.R.E User]

I’m sorry-I finally have to say it. I haven’t counted, but it feels like you’ve posted lots of all time highs in this thread. While it is great that the markets are going up, I can’t imagine that every new all time high is a milestone. I think the next milestone worth posting for you would be $800k, $900k and the finally your $1M (hopefully and likely before 50). Every single all time high is not a milestone is it?
Or post it in your own thread as often as you want and I’ll put it on ignore. Sorry to be blunt but this thread is for milestone not daily account updates.

I was posting every all time high. I thought we could that and it’s a milestone? It means a lot to me.

Admins please advice. Is it OK to post all all time highs?

 

[NgineER]

There are no rules for this thread enforced by the admins, but if you look at the first post in the thread and follow the link to the first post in this thread’s predecessor you find the following post.

“Celebrate a new milestone on your journey to FIRE with us! Did you just pay off your mortgage, reach financial independence, or pass a nice round number on your way to FI? Tell us of your accomplishments here!”

A good place to share your path to fire and every new all time high would be your introduction thread in the Hi I am sub forum.
It can be interesting to follow people’s progress over time.

 

[F.I.R.E User]

There are no rules for this thread enforced by the admins, but if you look at the first post in the thread and follow the link to the first post in this thread’s predecessor you find the following post.

“Celebrate a new milestone on your journey to FIRE with us! Did you just pay off your mortgage, reach financial independence, or pass a nice round number on your way to FI? Tell us of your accomplishments here!”

A good place to share your path to fire and every new all time high would be your introduction thread in the Hi I am sub forum.
It can be interesting to follow people’s progress over time.

Makes sense. I will post at $800k.

 

[The Cosmic Avenger]

Another minor milestone: $4.3M investable assets, $4.9M NW! (By mere dollars, no less!)

 

[street]

$781,100 all-time high today.

Age: 46. No RE. All in the market.

Will I become a millionaire before 50?

Investing about $42.5k per year now.

Outstanding!!!
You post every time You feel you want to with a milestone. I'm very happy for you and always like when you post the updates to you journey to a Millionaire.

 

[F.I.R.E User]

Another minor milestone: $4.3M investable assets, $4.9M NW! (By mere dollars, no less!)

Check your pockets. Maybe you got some change there to reach $5M .

Outstanding!!!
You post every time You feel you want to with a milestone. I'm very happy for you and always like when you post the updates to you journey to a Millionaire.

I will post at $800k. It could be in the next week or two.

 

[Rocky mtn high]

Retired 9 years ago and investments are 80% higher after taking 5k a month out. Now starting ss. Couldn’t have been much more fortunate on timing!

 

[F.I.R.E User]

Retired 9 years ago and investments are 80% higher after taking 5k a month out. Now starting ss. Couldn’t have been much more fortunate on timing!

How much will your SS be?

 

[Rocky mtn high]

Combined 5k per month

 

[aaronc879]

Including the appraised value of my paid off house it looks like I have reached $500K net worth at age 44. Not sure I could actually get $185K for my house and certainly wouldn't clear that after paying the realtor and other costs but, on paper, I could claim a $500K net worth. Considering I spend less than $15K/yr most years that is pretty good. I haven't been working a steady full time job since I was 38 but continue to do a small amount of self employment work for a few grand a year on average. I spent less than $11K last year and may spend less this year so hopefully the number keeps going up even if I don't work much if at all.

 

[F.I.R.E User]

Including the appraised value of my paid off house it looks like I have reached $500K net worth at age 44. Not sure I could actually get $185K for my house and certainly wouldn't clear that after paying the realtor and other costs but, on paper, I could claim a $500K net worth. Considering I spend less than $15K/yr most years that is pretty good. I haven't been working a steady full time job since I was 38 but continue to do a small amount of self employment work for a few grand a year on average. I spent less than $11K last year and may spend less this year so hopefully the number keeps going up even if I don't work much if at all.

How do you live on $15k a year? With health care premiums?

 

[street]

Including the appraised value of my paid off house it looks like I have reached $500K net worth at age 44. Not sure I could actually get $185K for my house and certainly wouldn't clear that after paying the realtor and other costs but, on paper, I could claim a $500K net worth. Considering I spend less than $15K/yr most years that is pretty good. I haven't been working a steady full time job since I was 38 but continue to do a small amount of self employment work for a few grand a year on average. I spent less than $11K last year and may spend less this year so hopefully the number keeps going up even if I don't work much if at all.

Great Job!!! I wish your dream to come true.

 

[aaronc879]

How do you live on $15k a year? With health care premiums?

No premiums at my income level. Nine out of the last 12 years I have gotten my insurance from the ACA and my premium has never been higher than around $20/mo. Last year I went on my states equivalent to Medicaid because I didn't want to pull enough out of my retirement savings to hit the minimum income requirement for ACA. My MAGI for last year was under $2K. Probably around the same for this year.

 

[F.I.R.E User]

No premiums at my income level. Nine out of the last 12 years I have gotten my insurance from the ACA and my premium has never been higher than around $20/mo. Last year I went on my states equivalent to Medicaid because I didn't want to pull enough out of my retirement savings to hit the minimum income requirement for ACA. My MAGI for last year was under $2K. Probably around the same for this year.

What’s the taxable income limit to make that happen for me?

 

[pacergal]

Including the appraised value of my paid off house it looks like I have reached $500K net worth at age 44. Not sure I could actually get $185K for my house and certainly wouldn't clear that after paying the realtor and other costs but, on paper, I could claim a $500K net worth. Considering I spend less than $15K/yr most years that is pretty good. I haven't been working a steady full time job since I was 38 but continue to do a small amount of self employment work for a few grand a year on average. I spent less than $11K last year and may spend less this year so hopefully the number keeps going up even if I don't work much if at all.

Congratulations, aaronc