Share Your FIRE Milestones - 2021

street said:
^ Thanks and you have done well! So many things to be thankful for in life.
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Yes, and I love being able to give back. Especially this past year where so many were hurting.
 
I fell short of a potential milestone in 2020. Everything financial went right for me in 2020 - retired with great severance, markets up strongly, my side gig business had a major uptick, my little bitcoin holding through the roof. I almost, but not quite, added $1M to IA in 2020. I doubt there will ever be another year for me with the potential to break that milestone.

Going forward, my DSO (dear significant other) is retiring in April. We have kept separate finances over our 12 years together and I didn't know much about how she was set up. We recently had a couple sit downs to go over her investment plans for retirement and she is doing better than I thought and is an IA millionaire in her own right :dance:, with a reasonable private pension and strong SS record. Doesn't effect my standing, but gives an additional emotional boost. We have placeholder appointments to go in to the attorney and set up our wills, trusts and POAs as soon as we're able to have a face to face sit down. Lots of paperwork gobbledy-gook, but all good and positive milestones to look forward to.
 
bada bing said:
I almost, but not quite, added $1M to IA in 2020. I doubt there will ever be another year for me with the potential to break that milestone.
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You likely will be surprised. It is amazing how the dollars compound. You go from a net worth of $1M, to an annual increase in net worth of $1M being amazing, to a $1M annual increase just being the ordinary decent year. But the best part of all is not having the headaches and stresses of working...:)
 
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Hit a new peak today in overall savings. Caused by "buying the dip" about a 10 days ago.
 
Our milestone was me finding this forum after getting serious about retirement, and seeing the end of the work tunnel.
Once I got here it became clear we could do it sooner than later, and you have given me a ton of things to think about. We don't have millions in investments or real estate, but I do have a pension and retiree medical that helps pave the path for us.
We have set a date range for pulling the plug on work, and it will only go to the far end of that range to max out DW's 403b contribution for 2023. I get a grin thinking about setting her 403b contribution to 100% when we start that year, and her getting pay statements and no checks.
 
skyking1 said:
Our milestone was me finding this forum after getting serious about retirement, and seeing the end of the work tunnel.
Once I got here it became clear we could do it sooner than later, and you have given me a ton of things to think about. We don't have millions in investments or real estate, but I do have a pension and retiree medical that helps pave the path for us.
We have set a date range for pulling the plug on work, and it will only go to the far end of that range to max out DW's 403b contribution for 2023. I get a grin thinking about setting her 403b contribution to 100% when we start that year, and her getting pay statements and no checks.
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Good for you! That day will come before you know it. Enjoy the journey along the way!
 
I received my first Social Security payment today.
 
F.I.R.E User said:
At what age did you decide to withdraw?
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62. We don't really need the money right now, but the young wife is not eligible for SS on her own and is subject to the Government Pension Offset, so she will not get any spousal benefit. More importantly, she also won't get a survivor benefit in the probable event that I predecease her. Which means when I'm gone, the SS income is gone 100%. Our logic was to take the SS money now so that we don't need to touch any of our portfolio, which will then be larger when she needs to depend on it. Currently, pensions plus my social security more than cover all of our spending, unless we opt for more frequent luxury travel.
 
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Gumby said:
62. We don't really need the money right now, but the young wife is not eligible for SS on her own and is subject to the Government Pension Offset, so she will not get any spousal benefit. More importantly, she also won't get a survivor benefit in the probable event that I predecease her. Which means when I'm gone, the SS income is gone 100%. Our logic was to take the SS money now so that we don't need to touch any of our portfolio, which will then be larger when she needs to depend on it. Currently, pensions plus my social security more than cover all of our spending, unless we opt for more frequent luxury travel.
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Your situation is probably one of the few on this site where 62 makes sense.
 
I wrote about a month ago how I was nearing the $1M mark in the taxable part of my portfolio. Well, today I reached that mark. I had to widen a column in my spreadsheet which keeps track of this because of the 7th digit and 2nd comma!
 
scrabbler1 said:
I wrote about a month ago how I was nearing the $1M mark in the taxable part of my portfolio. Well, today I reached that mark. I had to widen a column in my spreadsheet which keeps track of this because of the 7th digit and 2nd comma!
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Very nice. Congrats. Love it when we add commas
 
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