How long did it take your net worth to go from $1.5M to $3M?

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How long did it take your net worth (excluding primary residence) to go from $1.5M to $3M ?

0 year (eg my stock options vested immediately netting >$3M)
4
4%
1year
1
1%
2years
6
5%
3years
4
4%
4years
3
3%
5years
5
5%
6years
4
4%
7years
3
3%
8years
1
1%
9years
2
2%
10years
2
2%
>10years
8
7%
My net worth is <3M but I hope to learn from this poll and get there soon
67
61%
 
Total votes: 110

Topic Author
davidsorensen32
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How long did it take your net worth to go from $1.5M to $3M?

Post by davidsorensen32 »

Lets have at it
3504PIR
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Re: How long did it take your net worth to go from $1.5M to

Post by 3504PIR »

Shorted Enron
Topic Author
davidsorensen32
Posts: 472
Joined: Wed Jul 24, 2013 9:57 am

Re: How long did it take your net worth to go from $1.5M to

Post by davidsorensen32 »

3504PIR wrote:Shorted Enron
I was long Enron :oops:

No wonder you're at the top of the poll and I'm at the bottom
dognose
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Re: How long did it take your net worth to go from $1.5M to

Post by dognose »

Less than 10 seconds. Stock option exercise/sale.
livesoft
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Re: How long did it take your net worth to go from $1.5M to

Post by livesoft »

I guess it would be a little different for the folks who started with 1.5 on March 9, 2000 and March 9, 2009.
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island
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Re: How long did it take your net worth to go from $1.5M to

Post by island »

Need a choice for didn't keep track
Topic Author
davidsorensen32
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Re: How long did it take your net worth to go from $1.5M to

Post by davidsorensen32 »

island wrote:Need a choice for didn't keep track
Can you approximate ?
Topic Author
davidsorensen32
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Re: How long did it take your net worth to go from $1.5M to

Post by davidsorensen32 »

livesoft wrote:I guess it would be a little different for the folks who started with 1.5 on March 9, 2000 and March 9, 2009.
Absolutely !
tibbitts
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Re: How long did it take your net worth to go from $1.5M to

Post by tibbitts »

I'm thinking a poll asking how long it took to get from $3 million to $1.5 million, and how that happened, would be more interesting.
Topic Author
davidsorensen32
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Re: How long did it take your net worth to go from $1.5M to

Post by davidsorensen32 »

tibbitts wrote:I'm thinking a poll asking how long it took to get from $3 million to $1.5 million, and how that happened, would be more interesting.
Lets do it. Start a poll.
island
Posts: 1971
Joined: Tue Jul 23, 2013 1:45 pm

Re: How long did it take your net worth to go from $1.5M to

Post by island »

davidsorensen32 wrote:
island wrote:Need a choice for didn't keep track
Can you approximate ?
No idea, and since most of your choices are 1 year intervals, no range for approx within the poll anyway.
Dual income full time wage earners for about 30 years, with modest income by the standards of many on this site living within means and maxing 401Ks, no inheritances or windfalls, but when net worth went from the low to high in the range you ask for, no clue. Never tracked net worth and first time ever totaled it across accounts was about 2 years ago when discoverd this site. We were surprised at the number ourselves.

You or someone mentioned a starting a poll on how people did it. Is this active thread with 6 pages of posts close enough?

viewtopic.php?f=2&t=150595&newpost=2339723
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Garco
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Re: How long did it take your net worth to go from $1.5M to

Post by Garco »

2007--->2014. But in between it went down to ~1M in early 2009. Also this increase wasn't simply organic. In 2013-2014 I also inherited some money.
randomguy
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Re: How long did it take your net worth to go from $1.5M to

Post by randomguy »

davidsorensen32 wrote:
island wrote:Need a choice for didn't keep track
Can you approximate ?
About 15 months. This question is pretty much just asking how much per year you save and what the market conditions were. Or how lucky you were at picking stocks (1.5 million in apple can go to 5 million in 1-2 years. And that 5 million can turn into 3 million in 6 months). Save 500k/yr and you are going to 3 million in 2-5 years pretty much no matter what the market conditions. Save 20k/yr and it is going to take you 5-15 depending on market conditions. I am not sure what actionable items you expect to get out of that
Grt2bOutdoors
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Re: How long did it take your net worth to go from $1.5M to

Post by Grt2bOutdoors »

They say the first $100K is the hardest, and I'd have to agree. I'm not so sure what is the significance in going from $1.5M to $3M? Lately, it seems there is a big attraction to large dollar figures. Why don't you start a poll asking how hard it was to accumulate one's net worth - no amount needed, seeing that money usually doesn't fall from trees, except here where there seems to be an abundance of sudden windfall posters (lottery, stock options, inheritances, outlandish wages). I think we are do for a market correction of significant proportions soon.
Where's the option for - I don't care how long it took you and I don't care how long it takes me? :twisted:
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
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Garco
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Re: How long did it take your net worth to go from $1.5M to

Post by Garco »

In my case, that first $100K was accumulated by the end of 1986, after 15 years working in the economy. It took that long in part because I lost 4 years of 8% 401k matching from my first employer when I changed jobs and hadn't reached the 5-years needed to be vested in the plan. By 2015 this lost money would have grown to about $75K.
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dratkinson
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Re: How long did it take your net worth to go from $1.5M to

Post by dratkinson »

Not a contender, but the rule of 72, assuming 7% growth, says ~10 years.
d.r.a., not dr.a. | I'm a novice investor; you are forewarned.
bulbul
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Re: How long did it take your net worth to go from $1.5M to

Post by bulbul »

I am also interested in how to make it not just how long.
Grt2bOutdoors
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Re: How long did it take your net worth to go from $1.5M to

Post by Grt2bOutdoors »

bulbul wrote:I am also interested in how to make it not just how long.
One dollar at a time........ :wink:
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
island
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Re: How long did it take your net worth to go from $1.5M to

Post by island »

Grt2bOutdoors wrote:
bulbul wrote:I am also interested in how to make it not just how long.
One dollar at a time........ :wink:
Yup, agree. No magic so I too don't understand the point of threads like this. Please come back and tell us why the specific interest in 1.5 to 3M. 1.5 is what u have and 3 in your goal?
travellight
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Re: How long did it take your net worth to go from $1.5M to

Post by travellight »

"abundance of sudden windfall posters (lottery, stock options, inheritances, outlandish wages"

Outlandish wages are not just lucky like lottery and inheritances. It might be interesting to find out how people got to those wages. I suspect only 10% got there with luck.
364
randomguy
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Re: How long did it take your net worth to go from $1.5M to

Post by randomguy »

tibbitts wrote:I'm thinking a poll asking how long it took to get from $3 million to $1.5 million, and how that happened, would be more interesting.
Well in theory I went from 500k to 3 million in 6 months and then from 3 million and to 1 million in about 60 days. Now most of that was unvested stock options during the dot.com era so it isn't quite the same as real money. Got to love individual stock ownership:)
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White Coat Investor
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Re: How long did it take your net worth to go from $1.5M to

Post by White Coat Investor »

Not sure, but at the current rate of increase, 3-4 years.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course
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beyou
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Re: How long did it take your net worth to go from $1.5M to

Post by beyou »

Some answered with assumption that this only includes growth in existing assets, not new contributions.
Not sure what you were wondering about, since including all sources can be windfall from lottery/death,
ultra savings discipline or investing discipline. Very different ways to get there, and time would vary wildly.
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