Do you celebrate financial milestones?

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Hash-Basher
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Re: Do you celebrate financial milestones?

Post by Hash-Basher »

How do you check Voyager status in Vanguard? I recently went over $50k total assets.
Rodc
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Re: Do you celebrate financial milestones?

Post by Rodc »

We have not celebrated any milestones, but nothing wrong with doing so.

I suspect we'll celebrate retiring which is a big milestone. :)

I did mentally note and smile when we passed $1M in networth and am watching for passing $1M in savings which, market willing, will happen not too far into the future (though note is is possible, even perhaps likely, this milestone will be passed more than once.)

We might celebrate having all the kids finish college, though that is more than a financial milestone.
We live a world with knowledge of the future markets has less than one significant figure. And people will still and always demand answers to three significant digits.
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Hub
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Re: Do you celebrate financial milestones?

Post by Hub »

Hash-Basher wrote:How do you check Voyager status in Vanguard? I recently went over $50k total assets.
It just happens automatically. They mail you something.

I currently don't have a specific milestone that would trigger a celebration. A cheeky one I got from another poster on here is to celebrate $401k in your 401k. I'll maybe make a thing out of that milestone and celebrate with the wife and a couple bottles of wine.
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ofcmetz
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Re: Do you celebrate financial milestones?

Post by ofcmetz »

I celebrated with a shot of whiskey and some beer a few times when I hit some minor milestones. Since my main asset is my pension, my most exciting point was when I got where I could walk away and get paid immediately for not working. We went over the half million in net worth mark earlier this year and I was ho hum about it. Too much of it was in my illiquid things in my opinion. I think the half million in liquid investments mark will actually mean a lot more. Life is short, celebrate whenever you can.
Never underestimate the power of the force of low cost index funds.
TRC
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Re: Do you celebrate financial milestones?

Post by TRC »

I hope to make the 2 comma club in our retirement portfolio in 2015. If we do, this will be the only place I tell anyone and we'll probably go out for a nice dinner!
Curlyq
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Re: Do you celebrate financial milestones?

Post by Curlyq »

Sold big high-maintenance house and the proceeds paid for smaller easy-care retirement home. No mortgage and with healthy portfolio, work is now optional. Two-comma club several years ago, never paid much attention, but hit personal number earlier this year (50-times annual expenses in liquid assets at basic lifestyle level). Haven't told anyone, except the Bogleheads and my Flagship rep, and probably won't ever tell anyone else.

As work becomes less and less fulfilling, I'm happy to have options.

Got my rental set up recently as quality vacation rental and am making more money with it and am just happier about the whole thing. Now I get to use it when not rented. Have my health and good family/friends. Not much else needed right now. No celebration for anything yet, just less cortisol cursing through my veins and I'm feeling a whole bunch better.

I plan to host weekends at the vacation place with my family and friends -- just for fun -- not to celebrate anything in particular, well, maybe winter solstice this year. Can't think of a better way to enjoy fruits of labor than with people I love.
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zaboomafoozarg
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Re: Do you celebrate financial milestones?

Post by zaboomafoozarg »

I haven't officially celebrated any milestones yet, since I still have a long way to go before getting to any levels worth celebrating.
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TheTimeLord
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Re: Do you celebrate financial milestones?

Post by TheTimeLord »

I need the U.S. market to go up somewhere between 0.5%-1.0% by the EOY to make a milestone for 2014. I will celebrate if I hit this, even though in the grand scope of things it really isn't that meaningful whether I hit it or stay right where I am.
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Ignis
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Re: Do you celebrate financial milestones?

Post by Ignis »

TheTimeLord wrote:I need the U.S. market to go up somewhere between 0.5%-1.0% by the EOY to make a milestone for 2014. I will celebrate if I hit this, even though in the grand scope of things it really isn't that meaningful whether I hit it or stay right where I am.
Me too, but then I think, "when I max my IRA on the 2nd, I'll be buying shares at a higher price."
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TheTimeLord
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Re: Do you celebrate financial milestones?

Post by TheTimeLord »

jgb wrote:
TheTimeLord wrote:I need the U.S. market to go up somewhere between 0.5%-1.0% by the EOY to make a milestone for 2014. I will celebrate if I hit this, even though in the grand scope of things it really isn't that meaningful whether I hit it or stay right where I am.
Me too, but then I think, "when I max my IRA on the 2nd, I'll be buying shares at a higher price."
Wait until the 5th to max. your IRA and hope stocks drop on the 2nd.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]
TravelforFun
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Re: Do you celebrate financial milestones?

Post by TravelforFun »

We celebrated twice: First time when we made the two-comma club and the second time when we paid off our mortgage and became debt-free. We had worked very hard to achieve these goals and when we did, we took our kids, grandkids and a few relatives out to a nice steakhouse to celebrate.

Working on our next financial goal and hope to reach it by 2016.
VesperLynd
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Re: Do you celebrate financial milestones?

Post by VesperLynd »

Interestingly, the thought of this never occurred to me. I suppose if anything, the thought did occur that maybe my spending level should increase to include some of the pleasure/leisure items I've been thinking about.

What does occur to me most often is pride. Based on the hand dealt to me in life, I wasn't supposed to be where I am, but here I am..mostly powered by perseverence and planning.

Really, just about anything is possible.
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stemikger
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Re: Do you celebrate financial milestones?

Post by stemikger »

The only one I really celebrated was paying off my mortgage. I know many pros say paying off a mortgage doesn't always make sense, but the feeling it gave me was priceless.

When I started investing 20 years ago for retirement (I'm 50 now), my goal was always the standard $1 million. I work in a law firm as a staff member (i.e. office worker) so I don't make a big salary like many here. So to me $1 million with a paid off mortgage would be fine. I'm $30K away from $500K so that kind of makes me feel warm and fuzzy to be at the half way mark. To put this in perspective, three of the people I work with are older than me and they confided what they have in their 401K and we are all in the same ballpark salary wise. Most don't have much more than $160,000 and many were there a lot longer than 20 years. For all the younger people reading this, try and max out that 401K.

I'm also cash-flowing my daughter's college and she has one more term to get her BA. I'm very happy and proud she would not have any loans when she graduates. I am also going to try to do that when she starts her Masters program. I will definitely have a huge celebration if I'm able to pull off paying for her Masters.
Last edited by stemikger on Sat Dec 27, 2014 11:33 am, edited 5 times in total.
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4nursebee
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Re: Do you celebrate financial milestones?

Post by 4nursebee »

Bought and flew an American Flag when we paid off the house.
Was going to order a Tesla at a milestone we hit a month ago, did not order it.
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flyingaway
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Re: Do you celebrate financial milestones?

Post by flyingaway »

TheTimeLord wrote:I need the U.S. market to go up somewhere between 0.5%-1.0% by the EOY to make a milestone for 2014. I will celebrate if I hit this, even though in the grand scope of things it really isn't that meaningful whether I hit it or stay right where I am.
After monitoring the balance continuously for three days, my portfolio finally reached a round number on the eve of the Christmas day. I told my wife and opened a bottle of wine, which would be opened anyway because of the Christmas eve. I need my portfolio to go up 33% more to declare minimum financial independence. (Three more years?)
chaz
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Re: Do you celebrate financial milestones?

Post by chaz »

No celebration - just take each day as it comes.
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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TheTimeLord
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Re: Do you celebrate financial milestones?

Post by TheTimeLord »

TheTimeLord wrote:I need the U.S. market to go up somewhere between 0.5%-1.0% by the EOY to make a milestone for 2014. I will celebrate if I hit this, even though in the grand scope of things it really isn't that meaningful whether I hit it or stay right where I am.
Inch by inch, gain by gain, my portfolio struggles forward to achieve the never before achieved milestone. Two trading days left in which to make it. The tension is palpable. If only World Ex-US would get in the game here.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]
elisa321
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Re: Do you celebrate financial milestones?

Post by elisa321 »

GammaPoint wrote:[restarted old thread, check posting dates before responding - admin alex]

This year I should go over $50k in invested assets (not including emergency funds). However, I'm already looking forward to the $100k mark which seems like a cause for celebration (woohoo, Voyager status!).

So it got me thinking, do you celebrate financial milestones? Did you do something special when you hit $100k, $500k, $1 million, etc?
Congratulations OP!

imho I would celebrate privately and not let on to others. It feels good and you want to say something but then people may look at you as a possible loan officer because they think "you can afford it".

On the other side, my uncle focused his entire life on money. He lived like a poor man, heated only certain rooms and hung blankets to block off the other rooms in his tiny house, haggled with everyone, expected his family to help him fix what ever needed fixed, saying family should help. He constantly bragged about how much he has (good for him) and constantly giving lectures about money. Now in his mid 80's all he talks about is how he has x amount and he doesn't know what to do with it. I just smile and say niiice, and tell him it's time to stop collecting and start living... but it has to be really hard for some of our family members who are really struggling. In other words, as you raise the bar don't forget to live some, smile inside and keep it to yourself.
Riverson.mn
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Re: Do you celebrate financial milestones?

Post by Riverson.mn »

A number of posts made it sound like folks were reticent to celebrate financial milestones. The thought occurred to me that it's important to celebrate milestones. They don't need to be extravagant or out of proportion but celebrating life is important and if there has been effort expended, sacrifices made and goals attained, however transient, then take a little to enjoy the time you have. I lost my wife 12 years ago and now when milestones are made there is no one to celebrate with. A kiss would be real nice to celebrate. A nice dinner with a little special bottle of wine. Some champagne, sure. Life is short take the time in the midst of struggles to acknowledge each others commitment. Now I can take a trip to Greece and spread ashes. I'd much rather the memory of her on the beach.
BoglePablo
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Re: Do you celebrate financial milestones?

Post by BoglePablo »

GammaPoint wrote: Sun Jan 03, 2010 12:47 pm So it got me thinking, do you celebrate financial milestones? Did you do something special when you hit $100k, $500k, $1 million, etc?
We probably all celebrate, to some extent.

I will mention a new milestone to my wife, and she might grunt and go back to reading the paper. Then update my spreadsheets with smiley faces and bold coloured txt. And vicariously celebrate with other folks on these boards who hit those similar milestones.

So far I haven't yet used a milestone as an excuse for an extravagant purchase I don't need (eg new car/electronic toy/instrument), but that's probably I just buy them anyway, no excuses. :D
staythecourse
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Re: Do you celebrate financial milestones?

Post by staythecourse »

staythecourse wrote: Mon Dec 01, 2014 9:40 pm I thought I would celebrate financial milestones more, but haven't. I think it comes from not having anyone to share them with in the real world. I tell my wife, but she doesn't believe the numbers I tell her. I think she thinks I have lost my cognition at the tender age of 38. :D

No matter what I tell my wife she just wants to know if she has enough in the checking account to go shopping that day and that we will be fine when we retire whenever that will be. As long as she hears yes to the two questions she zones out when I start with the phrase, "On bogleheads..." :D

Good luck.
Interesting to update my own post. My wife still doesn't believe the numbers and still wants to makes sure there is enough in the checking account when she goes shopping. Other then that she just warns me not to mess everything up (whatever that means). Also, she still doesn't like when I start any conversation with, "On bogleheads...". :(

In the end another milestone later and I have learned the milestones are not as exciting as the anticipation of reaching them. Maybe it is because they are just numbers on a page or I have figured out when I stop working really has nothing to do with the numbers. Realizing they are not necessarily connected for me (wealth and job) has changed my outlook on wealth accumulation. I think I have realized money for me is about security. For me that is binary, 0 or 1. Lucky for us we are on the right end of that analysis. Job for me is just about when I feel like quitting and/ or when I finds someone I can trust to take over my patients when the time comes.

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle
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wander
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Re: Do you celebrate financial milestones?

Post by wander »

No, I do not celebrate financial milestones.
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Meaty
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Re: Do you celebrate financial milestones?

Post by Meaty »

Negative
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BoglePablo
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Re: Do you celebrate financial milestones?

Post by BoglePablo »

Riverson.mn wrote: Fri Sep 15, 2017 6:25 pm A number of posts made it sound like folks were reticent to celebrate financial milestones. The thought occurred to me that it's important to celebrate milestones. They don't need to be extravagant or out of proportion but celebrating life is important and if there has been effort expended, sacrifices made and goals attained, however transient, then take a little to enjoy the time you have. I lost my wife 12 years ago and now when milestones are made there is no one to celebrate with. A kiss would be real nice to celebrate. A nice dinner with a little special bottle of wine. Some champagne, sure. Life is short take the time in the midst of struggles to acknowledge each others commitment. Now I can take a trip to Greece and spread ashes. I'd much rather the memory of her on the beach.
Thanks for your post. It makes me appreciate my wife's noncommittal grunts all the more; i am thankful for them.

I hoist my own frosty mug to you, and wish you well. :sharebeer
DrGoogle2017
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Re: Do you celebrate financial milestones?

Post by DrGoogle2017 »

No, I didnt need any reason to eat more cake. But I shall celebrate when my oldest child reach her $100k in savings on a starving artist income, so that's why.
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