Share Your FIRE Milestones - 2021

[aaronc879]

$693,500 all-time high. All index funds. No RE.

Age: 46.

I did this on an income of $28k-$70k. I am the underdog.

It's definitely doable if you keep costs down. I have never made more than $49K in a year and my average income is under $30K and I have over $500K at 44. My best earning years were in my 20's and I had over $100K saved before I turned 30 and then the long bull market started right after that. So even though I have average under $25K a year income in the last 13 years my net worth has still tripled in that time. Start early, that is the key.

 

[F.I.R.E User]

Dad, is that you?

Maybe.

I’ve been retired since March 29, 2013. Our net worth at the time was about $4M with $3M in investments and the rest real estate. DW retired three years later.
We keep a small portion in index funds for diversification, but mostly we invest in individual dividend growth stocks. No secret sauce, just good quality companies that grow their dividends each year.

How old were you when you retired?

That’s a typo, right? Should be $793,500?

Either way, that’s pretty incredible at your age and with that income range. Nice work!

Yes, just corrected.

 

[Dash man]

Maybe.



How old were you when you retired?



Yes, just corrected.

56

 

[BlueberryPie]

Just hit $1M in Roth and HSA combined. We've unfortunately had enough expenses to be able to cash the HSA out tax free, so I'm including it with the Roths.

Silver lining I guess. You definitely earned the right to combine.

Have $1M tax-free is a major achievement. I don't think I'll ever get there even with Roth conversions after I retire.

 

[Digger1000]

I am single and 18k away from 1.4 mil investable. 1.4 mil for a single is equal to 2 mil for a couple. Not bad for someone who never made 30k a year until age 41 and retired at age 51. Retired April 2017 with 625k. In the 2000 dotcom bust my net worth dropped from 276k to 15k. Retired 14.5 years after my net worth hit the lowest in 2002. After the dotcom bust I switched from high risk mutual funds to the S&P 500. I actually loved working but the atmosphere was so toxic I couldnt take 1 more day. I am so glad I walked away.

 

[F.I.R.E User]

It's definitely doable if you keep costs down. I have never made more than $49K in a year and my average income is under $30K and I have over $500K at 44. My best earning years were in my 20's and I had over $100K saved before I turned 30 and then the long bull market started right after that. So even though I have average under $25K a year income in the last 13 years my net worth has still tripled in that time. Start early, that is the key.

Correction: $793,500. You really did well too. I did not start until age 29 and had $0 then.

Meanwhile, the some guys in 20s and 30s make fun of me because I don’t buy Bitcoin or some other Crypto and want me to day trade. ��.

56

I am single and 18k away from 1.4 mil investable. 1.4 mil for a single is equal to 2 mil for a couple. Not bad for someone who never made 30k a year until age 41 and retired at age 51. Retired April 2017 with 625k. In the 2000 dotcom bust my net worth dropped from 276k to 15k. Retired 17 years later. After 2000 I switched from high risk mutual funds to the S&P 500. I actually loved working but the atmosphere was so toxic I couldnt take 1 more day. I am so glad I walked away.

Wow. How many years did it take you up reach this milestone?

$625k is enough to retire? Health costs?

 

[aaronc879]

$625k is enough to retire? Health costs?

With that net worth it shouldn't be too difficult to arrange your investments so you make enough to qualify for ACA subsidies but low enough to get max or near max subsidies. That means you may have a $0 per month premium with a small deductible and maybe around $1000 Max Out of Pocket per year. Very affordable at least until Medicare when prices go up a lot. By then you have SS to cover health costs.

 

[F.I.R.E User]

With that net worth it shouldn't be too difficult to arrange your investments so you make enough to qualify for ACA subsidies but low enough to get max or near max subsidies. That means you may have a $0 per month premium with a small deductible and maybe around $1000 Max Out of Pocket per year. Very affordable at least until Medicare when prices go up a lot. By then you have SS to cover health costs.

All I am seeing is that not even $1M is enough today. Many retire way before SS qualification. So what do you spend your fun money on?

 

[aaronc879]

All I am seeing is that not even $1M is enough today. Many retire way before SS qualification. So what do you spend your fun money on?

Most people retire on way less than $1M. You won't have all the luxuries but you can definitely get by. I personally don't spend much of anything on "fun money". I only spend around $10-15K per year most years. I would rather live cheap than work with my chronic pain issues.

 

[BlueberryPie]

All I am seeing is that not even $1M is enough today. Many retire way before SS qualification. So what do you spend your fun money on?

Do a search on Average and Median net worth by age and you'll see 50% of 55 year old have less than $300K in Net Worth (and I bet a lot of that is tied in their house)

Many likely don't hang around this forum, but it's a good reminder that many people here are fortunate to be in the situation they're in (even if it's due to your own credit of managing your money wisely)

So whether you have $500K or $50M it's more of a matter of how does it work for you. I know people happily retired on 1/2 what I think if the low end of my happy place.

 

[F.I.R.E User]

Most people retire on way less than $1M. You won't have all the luxuries but you can definitely get by. I personally don't spend much of anything on "fun money". I only spend around $10-15K per year most years. I would rather live cheap than work with my chronic pain issues.

Most people are forced to retire for less than a $1M? So you retired because of your pain?

 

[Digger1000]

Correction: $793,500. You really did well too. I did not start until age 29 and had $0 then.

Meanwhile, the some guys in 20s and 30s make fun of me because I don’t buy Bitcoin or some other Crypto and want me to day trade. ��.






Wow. How many years did it take you up reach this milestone?

$625k is enough to retire? Health costs?

My ACA health plan is $0 premium and $0 deductible.

I've always been extremely frugal and extremely happy. So my lifestyle is the exact same as before I retired at 51. My total spending last year was $13,363.70, less than 1% of my current investable assets or 2.14% of my assets when I retired. I am 99%+ invested in the stock market. If the market goes down 67% my yearly spending would then be 3% of my net worth instead of 1%.

I pay $0 in fed and state income taxes.

 

[F.I.R.E User]

Do a search on Average and Median net worth by age and you'll see 50% of 55 year old have less than $300K in Net Worth (and I bet a lot of that is tied in their house)

Many likely don't hang around this forum, but it's a good reminder that many people here are fortunate to be in the situation they're in (even if it's due to your own credit of managing your money wisely)

So whether you have $500K or $50M it's more of a matter of how does it work for you. I know people happily retired on 1/2 what I think if the low end of my happy place.

I am aware of that this forum has much bigger goals. Will a million today work for a comfortable lifestyle?

My ACA health plan is $0 premium and $0 deductible.

I've always been extremely frugal and extremely happy. So my lifestyle is the exact same as before I retired at 51. My total spending last year was $13,363.70, less than 1% of my current investable assets or 2.14% of my assets when I retired. I am 99%+ invested in the stock market. If the market goes down 67% my yearly spending would then be 3% of my net worth instead of 1%.

I pay $0 in fed and state income taxes.

What part of USA do you live in?

 

[Digger1000]

I am aware of that this forum has much bigger goals. Will a million today work for a comfortable lifestyle?



What part of USA do you live in?

Ohio. I moved here in 2017 and they so happened to raise the amount of untaxed income since. If your income is $28,449 or below you pay $0 in state taxes.

 

[F.I.R.E User]

Ohio. I moved here in 2017 and they so happened to raise the amount of untaxed income since. If your income is $28,449 or below you pay $0 in state taxes.

I am in Texas. You must be living in VLCOL area? Rent?

 

[Digger1000]

I am in Texas. You must be living in VLCOL area? Rent?

Cleveland suburb since 2017. I lived most of my life in a town of 2,000 in Iowa.

 

[F.I.R.E User]

Cleveland suburb since 2017. I lived most of my life in a a town of 2,000 in Iowa.

Those small towns do have VLCOL.

What are your hobbies? Travel?

 

[Digger1000]

Those small towns do have VLCOL.

What are your hobbies? Travel?

My passions are CFB and horse racing. I follow both 365 days a year. And I never bet. If you truly love a sport you dont bet.

You asked about rent earlier, I pay $750 a month which includes h&w. Plus I have to pay $120 a year in renters insurance only because its required plus they have coin operated washing machines and dryers in the building.

I plan on taking SS at 70.

 

[F.I.R.E User]

My passions are CFB and horse racing. I follow both 365 days a year. And I never bet. If you truly love a sport you dont bet.

You asked about rent earlier, I pay $750 a month which includes h&w. Plus I have to pay $120 a year in renters insurance only because its required plus they have coin operated washing machines and dryers in the building.

I plan on taking SS at 70.

You are better off having your washing machine and dryer. Much cheaper and convenient.

 

[Digger1000]

You are better off having your washing machine and dryer. Much cheaper and convenient.

Yes I know. I had to sell mine when I moved here, no hookups.

 

[F.I.R.E User]

$795,250 all- time high.

All in on the index. No RE. Age: 46.

 

[street]

$795,250 all- time high.

All in on the index. No RE. Age: 46.

Awesome!!!

You had a great day today with an DJIA high. It won't be long, and you will make your target.

 

[F.I.R.E User]

Awesome!!!

You had a great day today with an DJIA high. It won't be long, and you will make your target.

Don’t we follow S&P 500? I have VTSAX.

Tomorrow’s update could hit $800k.

 

[street]

Don’t we follow S&P 500? I have VTSAX.

Tomorrow’s update could hit $800k.

Well, the pro's might, I look at the DJIA each day get what the markets have done for the day.

My unorthodox way isn't the usual way to success. It seems everything everyone does here is opposite of what I did/do. I made it through with taking a different road and thought pattern to win the game.

Keep plugging along it won't be long and cheering you on for your next Milestone.

 

[Surewhitey]

Broke through the $2.5MM mark... The last one is from the past 5 years.