Time to reach 1M and 2M milestones

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lostdog
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Re: Time to reach 1M and 2M milestones

Post by lostdog »

CyclingDuo wrote: Tue Jun 22, 2021 8:23 pm
lostdog wrote: Tue Jun 22, 2021 4:56 pm
Money_Badger wrote: Mon Jun 21, 2021 5:06 pm
MrBobcat wrote: Mon Jun 21, 2021 4:19 pm
Money_Badger wrote: Mon Jun 21, 2021 4:09 pm 51 and not at a million yet, but at least passed the 500K mark. My wife has a pension, which I don't really track since it's a bit nebulous as to what it's present value is.

That said, the journey from 500K to 1 million is thankfully far easier than from 0 - 500K. At 7% return, I'm likely looking at 6 ish more years to get to 1 million. Plus, we've got her pension; I'm hoping we'll be secure enough that a substantial portion (or all) of which will be "fun money" in retirement.
You're not alone, I was right around 52 when we got our 1st $500K. Last of 3 kids got out of college in 2015 snowballed that savings into paying off the house in 2017 and then started dumping all that extra cash flow into a taxable account. It goes way faster.
Thanks Mr BC!

Sometimes reading through these posts is frustrating, everyone seems to have been super diligent savers and/or makes tremendous amounts of money. I especially hate the "review my portfolio" post wherein the OP appears to simply want to brag about how much money they've saved.

I'd speculate that I'm in the top 10% of people (general population) in terms of retirement savings, but the the bottom 10% in relation to the BH community. It's refreshing to be reminded that there are others in my shoes though!
The most I've made was high $60's. My wife makes around the same. I stop reading posts when the income is $200k or more.
Always factor in cost of living.

$200K in Princeton, New Jersey is the equivalent of $87K in Omaha, Nebraska.
$200K in Chicago, Illinois is the equivalent of $131K in Toledo, Ohio.
$200K in San Francisco, CA is the equivalent of $56K in Wichita, Kansas.
Makes sense. I didn't think of that.
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Wiggums
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Re: Time to reach 1M and 2M milestones

Post by Wiggums »

I was so happy when I reach $100,000 because i needed to adjust the column (wider) on my spreadsheet !!!
"I started with nothing and I still have most of it left."
binvesting
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Re: Time to reach 1M and 2M milestones

Post by binvesting »

CyclingDuo wrote: Tue Jun 22, 2021 8:23 pm
lostdog wrote: Tue Jun 22, 2021 4:56 pm
Money_Badger wrote: Mon Jun 21, 2021 5:06 pm
MrBobcat wrote: Mon Jun 21, 2021 4:19 pm
Money_Badger wrote: Mon Jun 21, 2021 4:09 pm 51 and not at a million yet, but at least passed the 500K mark. My wife has a pension, which I don't really track since it's a bit nebulous as to what it's present value is.

That said, the journey from 500K to 1 million is thankfully far easier than from 0 - 500K. At 7% return, I'm likely looking at 6 ish more years to get to 1 million. Plus, we've got her pension; I'm hoping we'll be secure enough that a substantial portion (or all) of which will be "fun money" in retirement.
You're not alone, I was right around 52 when we got our 1st $500K. Last of 3 kids got out of college in 2015 snowballed that savings into paying off the house in 2017 and then started dumping all that extra cash flow into a taxable account. It goes way faster.
Thanks Mr BC!

Sometimes reading through these posts is frustrating, everyone seems to have been super diligent savers and/or makes tremendous amounts of money. I especially hate the "review my portfolio" post wherein the OP appears to simply want to brag about how much money they've saved.

I'd speculate that I'm in the top 10% of people (general population) in terms of retirement savings, but the the bottom 10% in relation to the BH community. It's refreshing to be reminded that there are others in my shoes though!
The most I've made was high $60's. My wife makes around the same. I stop reading posts when the income is $200k or more.
Always factor in cost of living.

$200K in Princeton, New Jersey is the equivalent of $87K in Omaha, Nebraska.
$200K in Chicago, Illinois is the equivalent of $131K in Toledo, Ohio.
$200K in San Francisco, CA is the equivalent of $56K in Wichita, Kansas.
Agreed. Also inflation; the quoted post mentions past tense so not sure when they stopped working. I'm sure someday others will think 'the most I've made is 200k'👍🏼
Also many professions offer long careers up until age 65/70, while some 'up or out' professions don't give that option.. so in someways we should see it as 'make hay while the sun shines' 😁
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CyclingDuo
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Re: Time to reach 1M and 2M milestones

Post by CyclingDuo »

lostdog wrote: Tue Jun 22, 2021 8:36 pm
Makes sense. I didn't think of that.
That's okay. I still use it on my spouse occasionally when she thinks the grass could be greener in another area. I always remind her that our current combined salaries and cost of living would be worth about $265K in Princeton, NJ or $370K in San Francisco, CA. :mrgreen:

By the way, our salaries are similar to your household.

Anyway - at the very least - knowing one's cost of living area might help you or others to temper thoughts a bit. Why? Knowing the cost of living for the area of the poster helps discern the numbers to adjust for what appears to be higher salaries at first glance. We have lived in NYC, Houston, San Francisco, a major city in Europe, etc... which was all nice for experiences and fun, but the cost of living was very high and dollars or Euros only stretch so far in spite of higher salaries in those areas due to the local cost of living. We really started to sock it away when we moved to a LCOL area about 18 years ago and saw our expense in $$ terms drop immensely compared to the previous HCOL areas.

Don't forget the HENRY's (high income, not rich yet) crowd. They have some spending and lifestyle creep (YOLO, right?) to reign in to participate in this thread...

https://www.businessinsider.com/high-ea ... Dkb4klzgs4

CyclingDuo
"Save like a pessimist, invest like an optimist." - Morgan Housel | "Pick a bushel, save a peck!" - Grandpa
lostdog
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Re: Time to reach 1M and 2M milestones

Post by lostdog »

CyclingDuo wrote: Tue Jun 22, 2021 9:24 pm
lostdog wrote: Tue Jun 22, 2021 8:36 pm
Makes sense. I didn't think of that.
That's okay. I still use it on my spouse occasionally when she thinks the grass could be greener in another area. I always remind her that our current combined salaries and cost of living would be worth about $265K in Princeton, NJ or $370K in San Francisco, CA. :mrgreen:

By the way, our salaries are similar to your household.

Anyway - at the very least - knowing one's cost of living area might help you or others to temper thoughts a bit. Why? Knowing the cost of living for the area of the poster helps discern the numbers to adjust for what appears to be higher salaries at first glance. We have lived in NYC, Houston, San Francisco, a major city in Europe, etc... which was all nice for experiences and fun, but the cost of living was very high and dollars or Euros only stretch so far in spite of higher salaries in those areas due to the local cost of living. We really started to sock it away when we moved to a LCOL area about 18 years ago and saw our expense in $$ terms drop immensely compared to the previous HCOL areas.

Don't forget the HENRY's (high income, not rich yet) crowd. They have some spending and lifestyle creep (YOLO, right?) to reign in to participate in this thread...

https://www.businessinsider.com/high-ea ... Dkb4klzgs4

CyclingDuo
Excellent explanation. Thank you. :beer
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Robert44
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Re: Time to reach 1M and 2M milestones

Post by Robert44 »

i million at retirement in 1999. mostly in stocks. only income is SS. Now have 3.5 millin
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ray.james
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Re: Time to reach 1M and 2M milestones

Post by ray.james »

Robert44 wrote: Tue Jun 22, 2021 10:32 pm i million at retirement in 1999. mostly in stocks. only income is SS. Now have 3.5 millin
Impressive. what were your expenses and how much did social security cover.
When in doubt, http://www.bogleheads.org/forum/viewtopic.php?f=1&t=79939
phantom0308
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Re: Time to reach 1M and 2M milestones

Post by phantom0308 »

CyclingDuo wrote: Tue Jun 22, 2021 8:23 pm Always factor in cost of living.

$200K in Princeton, New Jersey is the equivalent of $87K in Omaha, Nebraska.
$200K in Chicago, Illinois is the equivalent of $131K in Toledo, Ohio.
$200K in San Francisco, CA is the equivalent of $56K in Wichita, Kansas.
That’s not how cost of living works as someone who’s lived in LCOL, MCOL, VHCOL.
Savings are in absolute dollars and the cost of living for certain items is higher while others are the same. In the Bay Area a 3BR apartment can cost $5000 that’d cost $2000 or less in the Midwest. After that major expense and a couple others, the excess savings are purely excess. If my cost of living doubles and my salary doubles then my savings also double (minus progressive taxes). Those savings can be invested and spent anywhere in the future. You’re not locked into the same COL forever.
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Re: Time to reach 1M and 2M milestones

Post by Sasquatch1 »

smitcat wrote: Sun Jun 06, 2021 7:28 am
am wrote: Sun Jun 06, 2021 7:11 am The level of difficulty and amount of time doubling from 10—>20k or 2 mil—>4 mil is the same. I guess that’s why they say that money makes money.
Interestingly the amount of time it takes to go from 20 to 10 is the same as 4 to 2 .....a public service message for those that have not had significant funds invested for more than a dozen years.
Bonus question - if you have 2 million dollars invested in the market and it drops 50% (to one million) how much of a % rise does it take to get back to 2 million dollars?
100%
Robert44
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Re: Time to reach 1M and 2M milestones

Post by Robert44 »

ray.james wrote: Wed Jun 23, 2021 1:53 am
Robert44 wrote: Tue Jun 22, 2021 10:32 pm i million at retirement in 1999. mostly in stocks. only income is SS. Now have 3.5 millin
Impressive. what were your expenses and how much did social security cover.
$1800 SS a month
No debt.
Same house for 48 years.
Got lucky with some stocks and stock index funds.
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CyclingDuo
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Re: Time to reach 1M and 2M milestones

Post by CyclingDuo »

phantom0308 wrote: Wed Jun 23, 2021 2:13 am
CyclingDuo wrote: Tue Jun 22, 2021 8:23 pm Always factor in cost of living.

$200K in Princeton, New Jersey is the equivalent of $87K in Omaha, Nebraska.
$200K in Chicago, Illinois is the equivalent of $131K in Toledo, Ohio.
$200K in San Francisco, CA is the equivalent of $56K in Wichita, Kansas.
That’s not how cost of living works as someone who’s lived in LCOL, MCOL, VHCOL.
Savings are in absolute dollars and the cost of living for certain items is higher while others are the same. In the Bay Area a 3BR apartment can cost $5000 that’d cost $2000 or less in the Midwest. After that major expense and a couple others, the excess savings are purely excess. If my cost of living doubles and my salary doubles then my savings also double (minus progressive taxes). Those savings can be invested and spent anywhere in the future. You’re not locked into the same COL forever.
I agree that one is not locked into a particular COL forever as one can uproot and move (as we have done many times over the prior 3 decades). My response to lostdog was focused on the premise of not skipping over any post just because a poster mentions their household salaried income was $200K (or north of that) because it might all be relative when you factor in where they live and the expenses associated with living there. I also agree, that beyond the expenses - the larger the shovel, the more that can be stashed away in savings. A full break down of the expenses, taxes and costs to compare between two areas would be the most compelling argument.

The nest egg size required to fund one's retirement is also dictated by the cost of living where one chooses to reside to fund the expenses in retirement.

The three majors are: housing, food, transportation
The fourth pertinent expense is: healthcare

This gives an example of Knoxville, TN vs. San Francisco if one had a $120K salary in Knoxville and wanted to maintain the same lifestyle in San Francisco what would be required in salary...

https://www.nerdwallet.com/cost-of-livi ... ancisco-ca

Notice the 435% higher cost in housing. :beer Food, transportation, healthcare, entertainment are all also higher.

I might want a $5M portfolio to live and retire in a very HCOL city or area such as San Francisco, where I could probably have a similar lifestyle in Knoxville in retirement with a portfolio of lesser value.

CyclingDuo
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Gretchen
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Re: Time to reach 1M and 2M milestones

Post by Gretchen »

We joined the two-comma club when I was somewhere in my 40's or early 50's. It didn't matter much at the time, because it was almost entirely home equity, restricted company stock, and our tax-deferred retirement plans. I remember asking DH, "If we're actually millionaires, how come we're still living like grad students?" That wasn't exactly true; we had a nice house and decent cars that ran well. But we didn't have the mansions and luxury cars that many of our peers had acquired.

I think we blew right through $2M in my late 50's. I'd kept the restricted stock in my old company, it sold right before the Great Recession, and my shares brought in exactly double my wildest dreams. We didn't change our lifestyle much, but we realized we wouldn't have to worry about money now.

By the time DH was retired ahead of plan at age 60, we had enough that we were quite comfortable living on just my income. When I was retired ahead of plan at age 64, we were over $3M plus home equity (SoCal), so maybe $4M.
sc9182
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Re: Time to reach 1M and 2M milestones

Post by sc9182 »

Gretchen wrote: Wed Jun 23, 2021 10:27 am We joined the two-comma club when I was somewhere in my 40's or early 50's. It didn't matter much at the time, because it was almost entirely home equity, restricted company stock, and our tax-deferred retirement plans. I remember asking DH, "If we're actually millionaires, how come we're still living like grad students?" That wasn't exactly true; we had a nice house and decent cars that ran well. But we didn't have the mansions and luxury cars that many of our peers had acquired.

I think we blew right through $2M in my late 50's. I'd kept the restricted stock in my old company, it sold right before the Great Recession, and my shares brought in exactly double my wildest dreams. We didn't change our lifestyle much, but we realized we wouldn't have to worry about money now.

By the time DH was retired ahead of plan at age 60, we had enough that we were quite comfortable living on just my income. When I was retired ahead of plan at age 64, we were over $3M plus home equity (SoCal), so maybe $4M.
Power of compounding, and investing discipline at in action. Awesome! Glad you also mentioned: living below means, savings/investing discipline, also there is some element of "luck" involved - such as "more than" doubling of your company stock, good/fortunate market timing and great home-equity and such.

Keep it chugging folks - now we know the BH way to save-and-invest and let it compound.
Ajcorpus
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Re: Time to reach 1M and 2M milestones

Post by Ajcorpus »

I was backtesting my portfolio on Portofoliovisualizer the other day. With a starting value of about 800 k in 2010, the result is about 3.8 million without any contributions. Insane ! I know im just cherry picking the start and end time, but boy I really hope the next ten years are as good as the last ten where. Of course I had no clue about investing properly until 2018-2019 so there is much regret there and didn't reap the benefits of the last decade.
harrychan
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Re: Time to reach 1M and 2M milestones

Post by harrychan »

Robert44 wrote: Wed Jun 23, 2021 9:49 am
ray.james wrote: Wed Jun 23, 2021 1:53 am
Robert44 wrote: Tue Jun 22, 2021 10:32 pm i million at retirement in 1999. mostly in stocks. only income is SS. Now have 3.5 millin
Impressive. what were your expenses and how much did social security cover.
$1800 SS a month
No debt.
Same house for 48 years.
Got lucky with some stocks and stock index funds.
At what point do you or did you increase your spending?
This is not legal or certified financial advice but you know that already.
Robert44
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Re: Time to reach 1M and 2M milestones

Post by Robert44 »

harrychan wrote: Wed Jun 23, 2021 1:59 pm
Robert44 wrote: Wed Jun 23, 2021 9:49 am
ray.james wrote: Wed Jun 23, 2021 1:53 am
Robert44 wrote: Tue Jun 22, 2021 10:32 pm i million at retirement in 1999. mostly in stocks. only income is SS. Now have 3.5 millin
Impressive. what were your expenses and how much did social security cover.
$1800 SS a month
No debt.
Same house for 48 years.
Got lucky with some stocks and stock index funds.
At what point do you or did you increase your spending?
About 6 years ago. But with the strong market, the money still increases.
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Portfolio7
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Re: Time to reach 1M and 2M milestones

Post by Portfolio7 »

It's been 4 years since I last posted on this thread, thought I'd break it out a little differently: Time to each half million.

We started in 1994 with nothing in our retirement accounts, jointly we made about $70-80K. California, San Jose, so HCOL.
It took 16 years to hit $500K. Joint Income about $120K at this point. We dropped to one salary for about 5 years, $85K or so. Moved to MCOL area.
It took 7 more years to hit $1M. Joint Income around $185K at this point.
It took a little less than 4 more years to hit $1.5M+. Joint Income is likely to hit $230K this year.

AA was pretty close to 95/5 for the first 16 years.
AA was about 65/35 for the next 7 years. (I was deliberately a lot more conservative for about 4 or 5 years, for a variety of reasons.)
AA has been about 75/25 for the past 4 years.

With a little rounding, the number of years has become a nice progression, halving each cycle: 16, 8, 4, (2, 1, 0.5.) That might imply we could hit $3M in about 3.5 years : :greedy, but reality is probably twice that - we've had a pretty decent string of returns the past 4 years. In the long term, we've been doubling our retirement savings about every 7 to 8 years, and a good or bad year (or sequence of bad years) can shift the timing either way.
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Rookie
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Re: Time to reach 1M and 2M milestones

Post by Rookie »

2016: $1M
2020: $2M
90% Stocks / 10% Bonds.
The more I know about life, the more I get confused.
Marseille07
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Re: Time to reach 1M and 2M milestones

Post by Marseille07 »

retire2022 wrote: Fri Jun 11, 2021 5:08 pm Op I reached a 1 million net worth in 2013 and 2.197 million end of 2020 and 3.2 million net worth recently 6/2021, and my portfolio of approximately 2.482 million.

My current Asset Allocation is 95/5.

Total contributions since 1987 approximately 600k with two homes, apt and land upstate.
Are you planning to do a declining glidepath? I'm aiming for 95/5 but I sometimes feel if I should do 90/10.
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Re: Time to reach 1M and 2M milestones

Post by retire2022 »

Marseille07 wrote: Fri Jun 25, 2021 10:34 pm
Are you planning to do a declining glidepath? I'm aiming for 95/5 but I sometimes feel if I should do 90/10.
No, I may take 400K in cash or cash equivalents, ie intermediate treasuries for Roth Conversions and for vacation home.

Current AA seems to work, everything will change after I retire in August, what it maybe could be less 80/20 who knows.
I like the growth when it happens and stay on gravy train.
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Re: Time to reach 1M and 2M milestones

Post by Marseille07 »

retire2022 wrote: Fri Jun 25, 2021 10:49 pm
Marseille07 wrote: Fri Jun 25, 2021 10:34 pm
Are you planning to do a declining glidepath? I'm aiming for 95/5 but I sometimes feel if I should do 90/10.
No, I may take 400K in cash or cash equivalents, ie intermediate treasuries for Roth Conversions and for vacation home.

Current AA seems to work, everything will change after I retire in August, what it maybe could be less 80/20 who knows.
I like the growth when it happens and stay on gravy train.
I see. I'm trying to do something similar, 95/5 till retirement then god knows what happens then. It's a tricky problem, you want to stay in the win column but you don't want to decelerate too much.
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Re: Time to reach 1M and 2M milestones

Post by mdd »

Working career started 2001 before that grad school income just enough to live on. Started saving ~20% of gross now up to ~60% while income has tripled.

2014/2015 $1M net worth
+3 yr $2M
+2 yr $3M
+1yr $4M (2020)

If markets continue, maybe another year to $5M. Interestingly, to hit this level would require 5% growth after our annual contributions.
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StevieG72
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Re: Time to reach 1M and 2M milestones

Post by StevieG72 »

Robert44 wrote: Tue Jun 22, 2021 10:32 pm i million at retirement in 1999. mostly in stocks. only income is SS. Now have 3.5 millin
Awesome! How much have you withdrawn yearly from investment accounts? What is your AA?
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Re: Time to reach 1M and 2M milestones

Post by mptfan »

Robert44 wrote: Tue Jun 22, 2021 10:32 pm i million at retirement in 1999. mostly in stocks. only income is SS. Now have 3.5 millin
Have you worked in exchange for money since 1999? I have learned that some people claim to be retired but they continue to work.
Robert44
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Re: Time to reach 1M and 2M milestones

Post by Robert44 »

StevieG72 wrote: Sat Jun 26, 2021 8:45 am
Robert44 wrote: Tue Jun 22, 2021 10:32 pm i million at retirement in 1999. mostly in stocks. only income is SS. Now have 3.5 millin
Awesome! How much have you withdrawn yearly from investment accounts? What is your AA?
I only withdraw my RMD and reinvest most of that. I have not worked at a paying job since retirement. Volunteer for Meals on wheels.
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Re: Time to reach 1M and 2M milestones

Post by smitcat »

Robert44 wrote: Sat Jun 26, 2021 8:59 am
StevieG72 wrote: Sat Jun 26, 2021 8:45 am
Robert44 wrote: Tue Jun 22, 2021 10:32 pm i million at retirement in 1999. mostly in stocks. only income is SS. Now have 3.5 millin
Awesome! How much have you withdrawn yearly from investment accounts? What is your AA?
I only withdraw my RMD and reinvest most of that. I have not worked at a paying job since retirement. Volunteer for Meals on wheels.
What is your future purpose for the funds?
Robert44
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Re: Time to reach 1M and 2M milestones

Post by Robert44 »

smitcat wrote: Sat Jun 26, 2021 9:10 am
Robert44 wrote: Sat Jun 26, 2021 8:59 am
StevieG72 wrote: Sat Jun 26, 2021 8:45 am
Robert44 wrote: Tue Jun 22, 2021 10:32 pm i million at retirement in 1999. mostly in stocks. only income is SS. Now have 3.5 millin
Awesome! How much have you withdrawn yearly from investment accounts? What is your AA?
I only withdraw my RMD and reinvest most of that. I have not worked at a paying job since retirement. Volunteer for Meals on wheels.
What is your future purpose for the funds?
that is a great question. right now I am spending very freely. I guess it will go to my kids and grands. I do have a trust.
smitcat
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Re: Time to reach 1M and 2M milestones

Post by smitcat »

Robert44 wrote: Sat Jun 26, 2021 9:12 am
smitcat wrote: Sat Jun 26, 2021 9:10 am
Robert44 wrote: Sat Jun 26, 2021 8:59 am
StevieG72 wrote: Sat Jun 26, 2021 8:45 am
Robert44 wrote: Tue Jun 22, 2021 10:32 pm i million at retirement in 1999. mostly in stocks. only income is SS. Now have 3.5 millin
Awesome! How much have you withdrawn yearly from investment accounts? What is your AA?
I only withdraw my RMD and reinvest most of that. I have not worked at a paying job since retirement. Volunteer for Meals on wheels.
What is your future purpose for the funds?
that is a great question. right now I am spending very freely. I guess it will go to my kids and grands. I do have a trust.
"I guess it will go to my kids and grands. I do have a trust."
Sounds great - a good time to optimize that plan.
ericcohen
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Re: Time to reach 1M and 2M milestones

Post by ericcohen »

2019 - 1M
2020 (end of) - 2M
2021 - 2.04 M

:sharebeer
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Re: Time to reach 1M and 2M milestones

Post by Vanguard User »

ericcohen wrote: Mon Jun 28, 2021 7:04 pm 2019 - 1M
2020 (end of) - 2M
2021 - 2.04 M

:sharebeer
$1M in March 2020? Assuming this happened in the stock market?
smectym
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Re: Time to reach 1M and 2M milestones

Post by smectym »

sanfran2015 wrote: Sun May 17, 2015 5:25 pm Hi all,

They say the first $1M is the hardest. Is that really true?

No, if you did it our way: dumb luck through owning a house and also owning one rental (our previous home) during a bubble. That’s what got us into “two commas.” We never lifted a finger
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Re: Time to reach 1M and 2M milestones

Post by ericcohen »

Vanguard User wrote: Mon Jun 28, 2021 8:16 pm
ericcohen wrote: Mon Jun 28, 2021 7:04 pm 2019 - 1M
2020 (end of) - 2M
2021 - 2.04 M

:sharebeer
$1M in March 2020? Assuming this happened in the stock market?
Took a hit because of corona, but I was invested fairly conservatively when the meltdown happened. Got more aggressive in April etc with various alternative strategies. That has worked out so far. Next big leap: late 2022 and 2023 I hope!

Edit: oh and yes the stock market and some private company investments that have worked out
smectym
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Re: Time to reach 1M and 2M milestones

Post by smectym »

ericcohen wrote: Mon Jun 28, 2021 9:24 pm
Vanguard User wrote: Mon Jun 28, 2021 8:16 pm
ericcohen wrote: Mon Jun 28, 2021 7:04 pm 2019 - 1M
2020 (end of) - 2M
2021 - 2.04 M

:sharebeer
$1M in March 2020? Assuming this happened in the stock market?
Took a hit because of corona, but I was invested fairly conservatively when the meltdown happened. Got more aggressive in April etc with various alternative strategies. That has worked out so far. Next big leap: late 2022 and 2023 I hope!

Edit: oh and yes the stock market and some private company investments that have worked out
Eric, that’s interesting bc I’ve gone in the opposite direction, doubling down on conservative balanced funds and so on. Those investments are making money, though nothing flashy of course
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Re: Time to reach 1M and 2M milestones

Post by Vanguard User »

ericcohen wrote: Mon Jun 28, 2021 9:24 pm
Vanguard User wrote: Mon Jun 28, 2021 8:16 pm
ericcohen wrote: Mon Jun 28, 2021 7:04 pm 2019 - 1M
2020 (end of) - 2M
2021 - 2.04 M

:sharebeer
$1M in March 2020? Assuming this happened in the stock market?
Took a hit because of corona, but I was invested fairly conservatively when the meltdown happened. Got more aggressive in April etc with various alternative strategies. That has worked out so far. Next big leap: late 2022 and 2023 I hope!

Edit: oh and yes the stock market and some private company investments that have worked out
The 2020 March fall benefit anyone that stayed in the market and had mostly stocks plus DCA.
retire2022
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Re: Time to reach 1M and 2M milestones

Post by retire2022 »

Marseille07 wrote: Fri Jun 25, 2021 10:55 pm
I see. I'm trying to do something similar, 95/5 till retirement then god knows what happens then. It's a tricky problem, you want to stay in the win column but you don't want to decelerate too much.
I sold everything today in my pretax 457/Roth 457 account, my new milestone today is 2.6 million.

The 457 account has not cleared, it has not confirmed the sale went.

I will wait 45 days until NYSDCP transfer to Vanguard as per 457 plan rules.

Since I have retired on 8/5/2021 I believe Sept 15, a check will be cleared.

right now the AA is 68% cash/ versus 32% equities.

You can read my transfer progress here: viewtopic.php?f=1&t=324944
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Re: Time to reach 1M and 2M milestones

Post by Marseille07 »

retire2022 wrote: Thu Aug 05, 2021 11:20 pm
Marseille07 wrote: Fri Jun 25, 2021 10:55 pm
I see. I'm trying to do something similar, 95/5 till retirement then god knows what happens then. It's a tricky problem, you want to stay in the win column but you don't want to decelerate too much.
I sold everything today in my pretax 457/Roth 457 account, my new milestone today is 2.6 million.

The 457 account has not cleared, it has not confirmed the sale went.

I will wait 45 days until NYSDCP transfer to Vanguard as per 457 plan rules.

Since I have retired on 8/5/2021 I believe Sept 15, a check will be cleared.

right now the AA is 68% cash/ versus 32% equities.

You can read my transfer progress here: viewtopic.php?f=1&t=324944
Very nice. I don't see anything wrong dropping your allocation at retirement. This is a rising glidepath approach :beer

My post above is from 1.5 months ago; my current plan is to aim for 90/10 but top off Fixed Income at 250K and glide down toward 95/5 above 2.5M.
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Re: Time to reach 1M and 2M milestones

Post by retire2022 »

Marseille07 wrote: Thu Aug 05, 2021 11:32 pm
Very nice. I don't see anything wrong dropping your allocation at retirement. This is a rising glidepath approach :beer

My post above is from 1.5 months ago; my current plan is to aim for 90/10 but top off Fixed Income at 250K and glide down toward 95/5 above 2.5M.
Who said I will be dropping my AA? I am forced to because of transfer process.

The drop is only temporary I don't need to shift to a lower risk profile because of retirement.

It is lowered because some of the cash will be for summer home (300k-500K)

Once everything gets to Vanguard more than likely 20% will be cash for Roth conversions and home.
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Re: Time to reach 1M and 2M milestones

Post by Marseille07 »

retire2022 wrote: Thu Aug 05, 2021 11:48 pm
Marseille07 wrote: Thu Aug 05, 2021 11:32 pm
Very nice. I don't see anything wrong dropping your allocation at retirement. This is a rising glidepath approach :beer

My post above is from 1.5 months ago; my current plan is to aim for 90/10 but top off Fixed Income at 250K and glide down toward 95/5 above 2.5M.
Who said I will be dropping my AA? I am forced to because of transfer process.

The drop is only temporary I don't need to shift to a lower risk profile because of retirement.

It is lowered because some of the cash will be for summer home (300k-500K)

Once everything gets to Vanguard more than likely 20% will be cash for Roth conversions and home.
Oh I misunderstood. Sounds like a plan :beer
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Re: Time to reach 1M and 2M milestones

Post by retire2022 »

Marseille07 wrote: Thu Aug 05, 2021 11:53 pm
retire2022 wrote: Thu Aug 05, 2021 11:48 pm
Marseille07 wrote: Thu Aug 05, 2021 11:32 pm
Very nice. I don't see anything wrong dropping your allocation at retirement. This is a rising glidepath approach :beer

My post above is from 1.5 months ago; my current plan is to aim for 90/10 but top off Fixed Income at 250K and glide down toward 95/5 above 2.5M.
Who said I will be dropping my AA? I am forced to because of transfer process.

The drop is only temporary I don't need to shift to a lower risk profile because of retirement.

It is lowered because some of the cash will be for summer home (300k-500K)

Once everything gets to Vanguard more than likely 20% will be cash for Roth conversions and home.
Oh I misunderstood. Sounds like a plan :beer
all good, no worries just giving you an update since we last corresponded.
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Re: Time to reach 1M and 2M milestones

Post by Marseille07 »

retire2022 wrote: Thu Aug 05, 2021 11:57 pm all good, no worries just giving you an update since we last corresponded.
Yes, I appreciate it. Always interesting to see an aggressive AA into retirement, as I plan to do the same.
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Re: Time to reach 1M and 2M milestones

Post by alfredwallace »

Not counting my wife's investments or any of mine outside of my employer 403b, I looked back at my account balance. In 2nd quarter of 2009, it had 79K in it. Today it had a $1,010,000 but cherry-picking the dates makes it look easy. The last 12 years have been amazing. In contrast, the 10 years before that--- 1999-2009 were terrible. I went from 0 to 79K virtually all of it from contributions. There were no investment gains.
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Re: Time to reach 1M and 2M milestones

Post by retire2022 »

alfredwallace wrote: Thu Aug 12, 2021 1:36 pm Not counting my wife's investments or any of mine outside of my employer 403b, I looked back at my account balance. In 2nd quarter of 2009, it had 79K in it. Today it had a $1,010,000 but cherry-picking the dates makes it look easy. The last 12 years have been amazing. In contrast, the 10 years before that--- 1999-2009 were terrible. I went from 0 to 79K virtually all of it from contributions. There were no investment gains.
I went from 1987 to 1995 50K and 2000 to 400K after the first internet bubble, portfolio was 200K and it was several years of flatline until 2013 and now.

Total approx contributions 600K portfolio 2.60 million.
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Re: Time to reach 1M and 2M milestones

Post by 2tall4economy »

Selection of ages and investible net worth below. So looks like 4 years...

Age Investable assets
24 0
29 (140)
33 94
38 1,175
42 1,979

Real estate was a large portion of my portfolio for a while and after I started selling them I went back last year and restated all of the net worths since I was excluding the cost to sell and realistic sale prices... much more humbling after the adjustment. I had previously "hit" $2M at 40...

Another reminder - unless it's a liquid security, I caution you on your valuations!
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Re: Time to reach 1M and 2M milestones

Post by AnnetteLouisan »

for me, going from 0 to 1 mil - without much investing - was a lot like the Odyssey. Second mil, almost there, was much easier. $ makes $, you just have to defend it.
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Re: Time to reach 1M and 2M milestones

Post by AnnetteLouisan »

zaboomafoozarg wrote: Sun Apr 30, 2017 3:26 pm
Luke Duke wrote:
sanfran2015 wrote:Assuming 5% return on a 1M portfolio - you would need to contribute $50k for contributions to match market returns.

My guess is for majority of people, contributions outpace portfolio returns at least up to $1.5M.
You think that the majority of people are saving $75K/yr?
Certainly not all people, but it wouldn't surprise me if the majority of frequently-posting Bogleheads who aren't retired were saving $75k a year.
Im saving 140 a year.
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Re: Time to reach 1M and 2M milestones

Post by AnnetteLouisan »

Billyboy wrote: Sun Dec 20, 2020 11:53 pm As a follow up to my previous post. It took 35 yrs to reach $1 million.
10 more yrs to reach $2 million,
and 12 more yrs to reach $3 million, which was 4 days ago. :beer
:sharebeer
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zaboomafoozarg
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Re: Time to reach 1M and 2M milestones

Post by zaboomafoozarg »

AnnetteLouisan wrote: Thu Oct 14, 2021 9:01 pm
zaboomafoozarg wrote: Sun Apr 30, 2017 3:26 pm Certainly not all people, but it wouldn't surprise me if the majority of frequently-posting Bogleheads who aren't retired were saving $75k a year.
Im saving 140 a year.
Nice! Nowadays, I bet the average savings rate here is somewhere between $100k and $200k per year.
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Re: Time to reach 1M and 2M milestones

Post by Wannaretireearly »

Never tracked very closely. I guesstimate $1M liquid investable assets took 12 years and $2M another 5 or 6? All I know is I was surprised to be close to $3M a few months ago.

The metric I am really tracking closely, and where it’s hard to make progress, is my taxable account. I really want to celebrate $1M taxable investments, partly cos it will be a hard fought battle!
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AnnetteLouisan
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Re: Time to reach 1M and 2M milestones

Post by AnnetteLouisan »

zaboomafoozarg wrote: Thu Oct 14, 2021 9:15 pm
AnnetteLouisan wrote: Thu Oct 14, 2021 9:01 pm
zaboomafoozarg wrote: Sun Apr 30, 2017 3:26 pm Certainly not all people, but it wouldn't surprise me if the majority of frequently-posting Bogleheads who aren't retired were saving $75k a year.
Im saving 140 a year.
Nice! Nowadays, I bet the average savings rate here is somewhere between $100k and $200k per year.
It‘s nuts. For me, I wouldn’t even know what to spend it on at this point. But I would like to live in a decent place.
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Re: Time to reach 1M and 2M milestones

Post by Bungo »

I don't recall how long the first $1M took, but the second was much quicker, around 4 years thanks primarily to fortunate timing with an employer's RSU plan.
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