My investment success

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
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Czilla9000
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My investment success

Post by Czilla9000 »

..........
Last edited by Czilla9000 on Wed Feb 15, 2012 11:58 pm, edited 2 times in total.
hlfo718
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Post by hlfo718 »

Congrats. Now can I borrow some cash?
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Czilla9000
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Post by Czilla9000 »

Yes, at 950% APR :twisted:
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Post by mosu »

.....
Last edited by mosu on Thu Mar 12, 2015 9:48 pm, edited 1 time in total.
YDNAL
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Re: Past the $500,000 mark today.

Post by YDNAL »

Czilla9000 wrote:Past the $500,000 benchmark for the first time today. Of course, I can't really celebrate with my friends about it. I'm turning 24 next week, and I started with far less.
For what is worth, your quote doesn't mean much if you started with $450K of someone else's original capital at age 22. :wink:

Congratulations!
Landy | Be yourself, everyone else is already taken -- Oscar Wilde
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Zook13
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Post by Zook13 »

At 24, I think I had a $15K in student loans and probably $3K in a Roth...but on my way up!

Congrats!

Just always remember, someone helped you along the way... :D
Taxable Account Holdings: 100% Vanguard Tot'l Stock (VTI)
kerplunk
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Post by kerplunk »

I'm interesting in knowing how much you started with as well.

You registered on this forum early 2008... so did you just invest the right amount of money when the market was at its lowest?
Winthorpe
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Post by Winthorpe »

At age 24, I had about $15 in my wallet and about $30 in coins that I would use near the end of the month when the $15 was gone!
jysharma
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Post by jysharma »

I am getting close to that number! I look at the portfolio occasionally to see when I cross.
Started in 2004 at 0 but with some sound advice from this forum, hard work and a good job ... things have gone well.
My financial brain realizes that it doesnt mean much as the market has gone higher due to other reasons. :)
My sentimental brain is happy to reach half a million in 8 years.
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HardKnocker
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Post by HardKnocker »

All you have to do is take a penny and double it everyday for a month... :wink:
“Gold gets dug out of the ground, then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility.”--Warren Buffett
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Post by chaz »

Congrats! (Your avatar pic makes you look older than 24)
Chaz | | “Money is better than poverty, if only for financial reasons." Woody Allen | | http://www.bogleheads.org/wiki/index.php/Main_Page
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Post by jmbkb4 »

kerplunk wrote:I'm interesting in knowing how much you started with as well.

You registered on this forum early 2008... so did you just invest the right amount of money when the market was at its lowest?
http://www.bogleheads.org/forum/viewtop ... ht=#632343

According to OP, he lagged VTSMX by a whopping 6% in 2009...

This supposed "500,000" wreaks of an inheritance...

-------

http://www.bogleheads.org/forum/viewtop ... ht=#172394

OP was a student in DC in 2008...
gsmith
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Re: Past the $500,000 mark today.

Post by gsmith »

Czilla9000 wrote:Past the $500,000 benchmark for the first time today. Of course, I can't really celebrate with my friends about it. I'm turning 24 next week, and I started with far less.
I think my favorite quote on the subject was from Liar's Poker.

http://books.google.com/books?id=5NfZvS ... &q&f=false
While he was explaining that I was paid more then anyone else in my training class (I later learned that three others were paid as much), I was converting ninety thousand dollars into British Pounds, and putting that into perspective. It was certainly more then I was worth in the abstract. It was more then I had contributed to society; Christ, if social contribution had been the measure I should have been billed rather then paid at the end of the year. It was more then my father had made when he was twenty-six, even factoring in inflation which I did....
And the response....
"You don't get rich in this business," said Alexander when I complained privately to him. You only attain new levels of relative poverty."
Congratulations.


Greg
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norookie
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Post by norookie »

:D Im impressed. 500k aint what it used to be wait till stim #3!
" Wealth usually leads to excess " Cicero 55 b.c
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Re: Past the $500,000 mark today.

Post by natureexplorer »

Czilla9000 wrote:Of course, I can't really celebrate with my friends about it.
Why?
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frugalhen
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Re: Past the $500,000 mark today.

Post by frugalhen »

natureexplorer wrote:
Czilla9000 wrote:Of course, I can't really celebrate with my friends about it.
Why?

Why would anyone tell their friends how much money they have? Doing it here anonymously is one thing but jeepers........
"get out and live, you are dead an awfully long time" - Jimmy Demaret
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Post by Sheepdog »

At 24, I was flat broke, going to the U of Florida, living off $110 per month GI Bill which paid my whole way. Some days I had only 50 cents to eat off of. And you have $500K? Wow. Congratulations.
Jim
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MarginOfBuffett
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Re: Past the $500,000 mark today.

Post by MarginOfBuffett »

Czilla9000 wrote:Past the $500,000 benchmark for the first time today. Of course, I can't really celebrate with my friends about it. I'm turning 24 next week, and I started with far less.
time to short the market :)
Last edited by MarginOfBuffett on Thu Apr 28, 2011 10:07 pm, edited 1 time in total.
JasonR
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Post by JasonR »

[quote="Sheepdog"]At 24, I was flat broke, going to the U of Florida, living off $110 per month GI Bill which paid my whole way. Some days I had only 50 cents to eat off of. And you have $500K? Wow. Congratulations.
Jim[/quote

At 23, I was going to FCCJ--Florida Community College Jacksonville--living off $650 a month GI Bill. I LOVED the GI Bill! I ended up paying for a bachelor's degree and several house payments. Best investment I ever made!
Last edited by JasonR on Thu Apr 28, 2011 10:04 pm, edited 1 time in total.
natureexplorer
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Re: Past the $500,000 mark today.

Post by natureexplorer »

frugalhen wrote:
natureexplorer wrote:
Czilla9000 wrote:Of course, I can't really celebrate with my friends about it.
Why?
Why would anyone tell their friends how much money they have? Doing it here anonymously is one thing but jeepers........
Maybe they are not real friends then.
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TxAg
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Post by TxAg »

you mean "passed" :)


excellent, by the way

also curious how you managed?
Last edited by TxAg on Thu Apr 28, 2011 10:22 pm, edited 2 times in total.
FredPeterson
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Post by FredPeterson »

frugalhen wrote:Why would anyone tell their friends how much money they have? Doing it here anonymously is one thing but jeepers........
Unless he's using a psuedonym for his writing on the Motley Fool website, he's not exactly anonymous with a few simple searches.

So his friends must not have any interest whatsoever in what he does or they could track him down online pretty quick and then find this thread.
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Post by TheEternalVortex »

I'm also 24, and my NW is around $160k. Although that comes entirely from my own earnings over the past 6 years.
jpark1982
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Post by jpark1982 »

Not to sound harse, but is there any real point to this thread? OP hasn't come back to say whether it's all self earnings or inheritance. Its like an online bragging contest to see who's is biggest. Almost feels like the OP needed an avenue to gloat.
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Czilla9000
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Post by Czilla9000 »

TxAg wrote:you mean "passed" :)


excellent, by the way

also curious how you managed?
Thanks for the kind words, and I'm surprised by all the interest in the specifics, but I'll bite -

I've always loved stocks since the fourth grade. I spent a considerable amount of time reading about them growing up, specifically Warren Buffett's annual reports and value investor material. As I grew older I started to read about index investing and Fama French kind of stuff as well.

Then, out of left-field, I inherited $300,000 from a relative in late 2007. At such a young age I was apprehensive to invest so much at first, which kept me out of the market from 2007 and most of 2008. It retrospect I look like a genius, but it was really just dumb luck that kept me out.

I saw the market plummet from 14,000 to 8,000, and all the while I had cash sitting there doing nothing. On November 14, 2008, I decided I could no longer stay-on-sidelines. What got me into the market was the following personal reflection:

If I invested and the market continued to fall, I would at least know I did the best I could. I behaved rationally under the circumstances. I could still look at myself in the mirror, knowing that I did "the right thing" given the circumstances.

I knew Jack Bogle and Warren Buffett would be proud, regardless of whether the market subsequently went up or down.

But, if I did not invest, and the market went up, I would never forgive myself. I would have forsaken everything I ever knew about investing, including market timing against my better judgment. I would be a coward: Their was no rational reason for someone my age, with my capital, to be out of the market.

So, in the end, I swallowed hard and invested my money (domestic, international, and emerging). My parents were frightened at first. But I remembered what Buffett told CNBC that September: "Cash combined with courage in a crisis is priceless."

Within the first hour, I was down $10,000. Ouch.

The market continued to fall till March 2009, and I had very large paper losses. But I stayed the course, knowing that in the end "buy and hold" (+rebalance) wins the race. And the rest is history.

-------------------

EDIT: I decided to share this story with you, after all, because I figured, if anyone, Bogleheads would appreciate hearing about how "staying the course", against all the fear, greed, and hysteria, wins the race.

We hear stories all the time about how "buy and hold is dead" or "buy and hold is broken", so I thought a countervailing anecdote would be appropriate.

And I certainly don't credit myself with earning the initial cash - that was luck - but I do credit myself for listening to my better angels, investing rationally, and staying the course in those dark days.
Last edited by Czilla9000 on Thu Apr 28, 2011 11:45 pm, edited 2 times in total.
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Post by monkey_business »

Czilla9000 wrote:
TxAg wrote:you mean "passed" :)


excellent, by the way

also curious how you managed?
I'm surprised by all the interest in the specifics, but I'll bite -

I've always loved stocks since the fourth grade. I spent a considerable amount of time reading about them growing up, specifically Warren Buffett's annual reports and value investor material. As I grew older I started to read about index investing and Fama French kind of stuff as well.

Then, out of left-field, I inherited $300,000 from a relative in late 2007. At such a young age I was apprehensive to invest so much at first, which kept me out of the market from 2007 and most of 2008. It retrospect I look like a genius, but it was really just luck that kept me out.

I saw the market plummet from 14,000 to 8,000, and all the while I had cash sitting there doing nothing. On November 14, 2008, I decided I could no longer stay-on-sidelines. What got me into the market was the following personal reflection:

If I invested and the market continued to fall, I would at least know I did the best I could. I behaved rationally under the circumstances. I could still look at myself in the mirror, knowing that I did "the right thing" given the circumstances.

I knew Jack Bogle and Warren Buffett would be proud of me, regardless of whether the market subsequently went up or down.

But, if I did not invest, and the market went up, I would never forgive myself. I would have forsaken everything I ever knew about investing, against my better judgment. I would be a coward: Their was no rational reason for someone my age, with my capital, to be out of the market.

So, in the end, I swallowed hard and invested my money (domestic, international, and emerging). I remembered what Buffett told CNBC that September: "Cash combined with courage in a crisis is priceless."

Within the first hour, I was down $10,000. Ouch.

The market continued to fall till March 2009, and I had large paper losses. But I stayed the course, knowing that in the end "buy and hold" (+rebalance) wins the race. And the rest is history.
Congratulations on your inheritance and great start at a young age. However, this post sounds like pride, and what really happened is you inherited a bunch of money, due to luck invested it close to the bottom, and ended up profiting from it. Good for you, but what's the point of sharing this on a help forum? Did you have questions?
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Post by DblDoc »

monkey_business wrote:
Czilla9000 wrote:
TxAg wrote:you mean "passed" :)


excellent, by the way

also curious how you managed?
I'm surprised by all the interest in the specifics, but I'll bite -

I've always loved stocks since the fourth grade. I spent a considerable amount of time reading about them growing up, specifically Warren Buffett's annual reports and value investor material. As I grew older I started to read about index investing and Fama French kind of stuff as well.

Then, out of left-field, I inherited $300,000 from a relative in late 2007. At such a young age I was apprehensive to invest so much at first, which kept me out of the market from 2007 and most of 2008. It retrospect I look like a genius, but it was really just luck that kept me out.

I saw the market plummet from 14,000 to 8,000, and all the while I had cash sitting there doing nothing. On November 14, 2008, I decided I could no longer stay-on-sidelines. What got me into the market was the following personal reflection:

If I invested and the market continued to fall, I would at least know I did the best I could. I behaved rationally under the circumstances. I could still look at myself in the mirror, knowing that I did "the right thing" given the circumstances.

I knew Jack Bogle and Warren Buffett would be proud of me, regardless of whether the market subsequently went up or down.

But, if I did not invest, and the market went up, I would never forgive myself. I would have forsaken everything I ever knew about investing, against my better judgment. I would be a coward: Their was no rational reason for someone my age, with my capital, to be out of the market.

So, in the end, I swallowed hard and invested my money (domestic, international, and emerging). I remembered what Buffett told CNBC that September: "Cash combined with courage in a crisis is priceless."

Within the first hour, I was down $10,000. Ouch.

The market continued to fall till March 2009, and I had large paper losses. But I stayed the course, knowing that in the end "buy and hold" (+rebalance) wins the race. And the rest is history.
Congratulations on your inheritance and great start at a young age. However, this post sounds like pride, and what really happened is you inherited a bunch of money, due to luck invested it close to the bottom, and ended up profiting from it. Good for you, but what's the point of sharing this on a help forum? Did you have questions?
He was asked to share. Nothing wrong with posting your milestones along the way - especially since you can't with most friends and family. Keeps people motivated.

To the OP congrats and stay the course...

DD
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HomerJ
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Post by HomerJ »

Living through a crash like that with a ton of money is a great learning experience... Sounds like you learned the right lessons too...

But remember you got lucky... Don't try to be the next Buffett... How much money do you really think you need?

There's almost no reason to be aggressive with $500k at 24... You are assured of financial freedom for the rest of your life, unless you blow it.

So don't blow it... Remember, Buffett's rules

#1 Don't lose money
#2 Remember rule #1

Note I have no idea what your asset allocation is... You could already be at 60/40 stocks/bonds (which is what I would suggest), but you might be at 100% stocks, and I just think there's no reason to risk that much.

Congrats to you... good luck...
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Post by verygoodthings »

rrosenkoetter wrote:Living through a crash like that with a ton of money is a great learning experience... Sounds like you learned the right lessons too...

But remember you got lucky... Don't try to be the next Buffett... How much money do you really think you need?

There's almost no reason to be aggressive with $500k at 24... You are assured of financial freedom for the rest of your life, unless you blow it.

So don't blow it... Remember, Buffett's rules

#1 Don't lose money
#2 Remember rule #1

Note I have no idea what your asset allocation is... You could already be at 60/40 stocks/bonds (which is what I would suggest), but you might be at 100% stocks, and I just think there's no reason to risk that much.

Congrats to you... good luck...
Haha, disagree.

OP is 24 years old, and can afford to take risks with his portfolio. Based on his latest post, he seems to be knowledgeable in sticking to asset allocation through thick and thin. Without really investigating further, 80 to 90% equity seems appropriate. Most advisors would agree.

500k being a number that is "assured of financial freedom" is a perspective statement. For instance, I would definitely not feel that 500k assures me of financial freedom for the rest of my life (and I am 27).

FWIW I absolutely hate those kind of Buffett quotes above. His entire life (Warren) has revolved around taking calculated risks with money, and succeeding in those endeavors. The quote is ridiculous and stupid in my opinion. It's not a good advice quote, its more of a motto.
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Post by MWCA »

Think I had a new job at 24. Living in some little shack in a bad part of town. Job was a big pay raise and I was able to move on out after awhile. I wont even drive down that street now. LOL
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Czilla9000
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Post by Czilla9000 »

Living through a crash like that with a ton of money is a great learning experience... Sounds like you learned the right lessons too...

But remember you got lucky... Don't try to be the next Buffett... How much money do you really think you need?

There's almost no reason to be aggressive with $500k at 24... You are assured of financial freedom for the rest of your life, unless you blow it.

So don't blow it... Remember, Buffett's rules

#1 Don't lose money
#2 Remember rule #1

Note I have no idea what your asset allocation is... You could already be at 60/40 stocks/bonds (which is what I would suggest), but you might be at 100% stocks, and I just think there's no reason to risk that much.

Congrats to you... good luck...

Ya, it was quite a learning experience. Although, to be honest, I think I learned far more doing all the investment reading leading up to it, and lately talking to my professors about finance (the experience made me decide to academically study finance). I've also learned far more studying for CFA Level 2 (ugh...taking it in June). And of course from these forums. :)


"[With] $500k at 24... You are assured of financial freedom for the rest of your life, unless you blow it."

Since you brought it up...I wonder about this in this day and age. Is $500,000 "critical mass" for this to be the case? Don't mean to sound greedy or ungrateful, but I do wonder.
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Post by supersharpie »

Czilla9000 wrote:
Living through a crash like that with a ton of money is a great learning experience... Sounds like you learned the right lessons too...

But remember you got lucky... Don't try to be the next Buffett... How much money do you really think you need?

There's almost no reason to be aggressive with $500k at 24... You are assured of financial freedom for the rest of your life, unless you blow it.

So don't blow it... Remember, Buffett's rules

#1 Don't lose money
#2 Remember rule #1

Note I have no idea what your asset allocation is... You could already be at 60/40 stocks/bonds (which is what I would suggest), but you might be at 100% stocks, and I just think there's no reason to risk that much.

Congrats to you... good luck...

Ya, it was quite a learning experience. Although, to be honest, I think I learned far more doing all the investment reading leading up to it, and lately talking to my professors about finance (the experience made me decide to academically study finance). I've also learned far more studying for CFA Level 2 (taking it in June). And of course from these forums. :)


"[With] $500k at 24... You are assured of financial freedom for the rest of your life, unless you blow it."

Since you brought it up...I wonder about this in this day and age. Is $500,000 "critical mass" for this to be the case? Don't mean to sound greedy or ungrateful, but I do wonder.
Let's say you don't invest another dollar going forward and take his advice to invest conservatively. Let's assume that leads you to receive an average annual real rate of return of 3%. That means your money will double in real terms every 24 years. So, at 48 you will be at $1,000,000 and 60 you will be at $1,500,000.

Generally people don't recommend that you withdrawal at a rate higher than 4%. Do you think you will be satisfied with an annual stipend of $60,000 in retirement?
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Post by White Coat Investor »

Congratulations! I remember hitting six figures being a big deal.
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HomerJ
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Post by HomerJ »

I don't mean you're financial independent today with $500k...

What I mean is, you're so far ahead of the game, only if you're a complete moron will you not be able to retire early and comfortably.

Many people save their whole lives and only have $500k to retire on...

You have $500k at 24... You are incredibly blessed.

All I'm saying is don't think to yourself... "now let's see if I can turn this into some REAL money!"

All you have to do is protect what you have and you're assured of doing well...
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Post by sport »

rrosenkoetter wrote:I don't mean you're financial independent today with $500k...

What I mean is, you're so far ahead of the game, only if you're a complete moron will you not be able to retire early and comfortably.

Many people save their whole lives and only have $500k to retire on...

You have $500k at 24... You are incredibly blessed.

All I'm saying is don't think to yourself... "now let's see if I can turn this into some REAL money!"

All you have to do is protect what you have and you're assured of doing well...
rrosenkoetter has it right. This is good advice. You should heed it. There is an old saying among investors: Bulls make money, bears make money, pigs get slaughtered. Don't be a pig.

Jeff
verygoodthings
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Post by verygoodthings »

rrosenkoetter wrote:I don't mean you're financial independent today with $500k...

What I mean is, you're so far ahead of the game, only if you're a complete moron will you not be able to retire early and comfortably.

Many people save their whole lives and only have $500k to retire on...

You have $500k at 24... You are incredibly blessed.

All I'm saying is don't think to yourself... "now let's see if I can turn this into some REAL money!"

All you have to do is protect what you have and you're assured of doing well...
I'm sorry, I still really don't understand this advice. Taking a calculated risk to do substantially better in the long run with the money may be worthwhile, it all depends on the OPs goals in life. If his goal is to have 3 or 4 children, live an upper middle class lifestyle, pay for childrens' expensive education, then he may have to take risks with his investments.

Yes, if he wants to live the "typical" life of the retiring people you are suggesting that have only saved up 500k, then he can do that too and have a higher chance of success. To me it seems like settling for average.

OP - No, 500k is not some kind of critical mass. In fact, it doesn't even get you going into certain investment mediums.

There are plenty of scenarios where OP would find it worthwhile to gamble a bit more with the money. Having a larger asset base may enable him to start his own business in his 30s, perhaps have money necessary to help his parents if they are ill prepared for retirement, RETIRE EARLIER, all kinds of scenarios.

All that being said, if the goal is to grow the money so that you can live a more luxurious lifestyle, that is a slippery slope. There is always "MORE" that you can reach for, and you will eat yourself alive.
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Re: Passed the $500,000 mark today.

Post by YDNAL »

Original Post wrote:Passed the $500,000 benchmark for the first time today. Of course, I can't really celebrate with my friends about it. I'm turning 24 next week, and I started with far less.
Czilla9000 wrote:I've always loved stocks since the fourth grade. I spent a considerable amount of time reading about them growing up, specifically Warren Buffett's annual reports and value investor material. As I grew older I started to read about index investing and Fama French kind of stuff as well.

Then, out of left-field, I inherited $300,000 from a relative in late 2007. At such a young age I was apprehensive to invest so much at first, which kept me out of the market from 2007 and most of 2008. It retrospect I look like a genius, but it was really just dumb luck that kept me out.
Thanks for the update.

Observation: A couple of words like the second paragraph in the update would have made this thread more informative for others Bogleheads, but also more informative for yourself if you actually shared a plan for the future and actually had questions.

Do you have questions?
Do you have a plan?
Landy | Be yourself, everyone else is already taken -- Oscar Wilde
Snowjob
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Re: Passed the $500,000 mark today.

Post by Snowjob »

Original Post wrote:Passed the $500,000 benchmark for the first time today. Of course, I can't really celebrate with my friends about it. I'm turning 24 next week, and I started with far less.

......

Then, out of left-field, I inherited $300,000 from a relative in late 2007. At such a young age I was apprehensive to invest so much at first, which kept me out of the market from 2007 and most of 2008. It retrospect I look like a genius, but it was really just dumb luck that kept me out.
Observation: Not that gettting to that amount of money is impressive at such a young age, but who are your friends that inheriting 300K is "starting out with far less?"
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Post by gatorking »

No big deal - I've passed it 4 or 5 times already.
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Post by exoilman »

Congratulations, you now have money working for you. You will get great advice from some of the posters here. Keep coming to this forum and you will figure out who they are.

Sam
brainstem
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Post by brainstem »

No big deal - I've passed it 4 or 5 times already.
Could take this several ways --- but for the sake of illustration -- this can show the potential for ups and downs --- you may go above and below the 500 K threshold several times depending on the market and your spending --- best question now is "now what?" -- one thing that many 24 yr olds do not think about is umbrella insurance -- cheap and a good protection of assets against the slings and litigation of life .........
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Post by scrabbler1 »

And I thought I was doing well when I was 24 (in 1987)......

I paid off my student loans, making me debt-free (for a few years, until I bought my apartment 2 years later), owned my own one-year-old car outright, pierced the $10k mark in investments, and got two pay raises that year totalling 17%.

I did not hit the $500k mark until I turned 40, but it took me only another 7 years to accumulate my next $500k. ("The first $500k is the toughest?")

However you got there (as long as it was legal), Czilla, congrats to you!
Dagwood
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Re: Passed the $500,000 mark today.

Post by Dagwood »

Czilla9000 wrote:Passed the $500,000 benchmark for the first time today. Of course, I can't really celebrate with my friends about it. I'm turning 24 next week, and I started with far less.
Congratulations, inheritance or not. Just make sure that you follow the principles Mr. Bogle has espoused regularly throughout his career with regard to saving discipline, keeping costs low, and not getting greedy chasing returns and you will be in a fantastic position at a very young age.

Fwiw, so you understand how fortunate you are, when I was 24 I was a newly minted graduate (grad school) and together with my wife we had no savings and 250k in student loans to pay off. Use your advantage well and good luck!
Harold
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Post by Harold »

brainstem wrote:
No big deal - I've passed it 4 or 5 times already.
Could take this several ways --- but for the sake of illustration -- this can show the potential for ups and downs --- you may go above and below the 500 K threshold several times depending on the market and your spending --- best question now is "now what?" -- one thing that many 24 yr olds do not think about is umbrella insurance -- cheap and a good protection of assets against the slings and litigation of life .........
Although I certainly wouldn't recommend this for anyone, I've always liked the idea of the milestone party -- where if you spend enough on it each time, you get to have the party over and over and over and over again.

(Presuming your investments eventually go back up enough.)
Grt2bOutdoors
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Post by Grt2bOutdoors »

rrosenkoetter wrote:I don't mean you're financial independent today with $500k...

What I mean is, you're so far ahead of the game, only if you're a complete moron will you not be able to retire early and comfortably.

Many people save their whole lives and only have $500k to retire on...

You have $500k at 24... You are incredibly blessed.

All I'm saying is don't think to yourself... "now let's see if I can turn this into some REAL money!"

All you have to do is protect what you have and you're assured of doing well...
+1 - This includes becoming involved with the the right type of people. Marry the wrong woman - and you may never have enough. :wink:
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House Blend
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Post by House Blend »

gatorking wrote:No big deal - I've passed it 4 or 5 times already.
I may not know how many times I've passed $500K, but you can be darn sure I know whether the number is odd or even.
ResNullius
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Post by ResNullius »

Let's see, now. I was still in grad school at 24, and my net worth was close to zero, unless you want to count some junk furniture and a clunker of a car.
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ofcmetz
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Post by ofcmetz »

Congrats. I didn't start my investing self-education until I was 25. Until that point I consumed every penny I made.

Keep up the self education and celebrate the milestones. My close friends and I talk money, but I only share specific numbers with those who understand boglehead principles. Some people think $100K is a ton of money because to them it means two new cars and a Disney Vacation.

When I think of $100K I think how long would it take to double it in real terms or that it could provide me between $3K and $4K of income for many years.

As long as you think in these terms then you are on the right path.

Jeff
Never underestimate the power of the force of low cost index funds.
chaz
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Post by chaz »

ResNullius wrote:Let's see, now. I was still in grad school at 24, and my net worth was close to zero, unless you want to count some junk furniture and a clunker of a car.
I was in law school at 24, and my net worth was close to zero, but I was on the GI bill.
Chaz | | “Money is better than poverty, if only for financial reasons." Woody Allen | | http://www.bogleheads.org/wiki/index.php/Main_Page
chaz
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Post by chaz »

EmergDoc wrote:Congratulations! I remember hitting six figures being a big deal.
It was a big deal for me also.
Chaz | | “Money is better than poverty, if only for financial reasons." Woody Allen | | http://www.bogleheads.org/wiki/index.php/Main_Page
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