Post your Financial Milestone Announcements Here

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bubbadog
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Re: I think I hit 100k on retirement milestone?

Post by bubbadog » Sun Jul 15, 2018 4:15 pm

Nice work, congrats! :sharebeer :moneybag :moneybag

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celia
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Re: I think I hit 100k on retirement milestone?

Post by celia » Sun Jul 15, 2018 4:23 pm

achen9291 wrote:
Sun Jul 15, 2018 1:39 pm
Checked my account on mint today and I see that it hit 100k. . . . To be honest it doesn't really feel any different that I hit this milestone. . .
The is very impressive if you could save 100k in 4 years. Let it compound for 4 more years while you save that much again. Rinse and repeat. Know that you will have compounding work on those original dollars, which can be very powerful.

Miriam2
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Re: I think I hit 100k on retirement milestone?

Post by Miriam2 » Sun Jul 15, 2018 5:34 pm

achen9291 wrote: Checked my account on mint today and I see that it hit 100k. I actually hit it a few months ago but I was switching jobs and lost my match which put me under. I rolled over my old 401k to new 401k and I assume it doesn't just carry over the match that I lost... the numbers I think are reflecting accurately.

To be honest it doesn't really feel any different that I hit this milestone I just felt like it took forever! I been investing since 2014 when I graduated college. Attempted to max out my retirement accounts since then but with job losses and losing matches it delayed my goals. I need some encouragement...
Way to go Achen9291!! As another poster said a while ago: "It's a slow slog to sixty [$60,000]."

If it's any encouragement, I'll bet you are FAR ahead of most people around your age, and the most important thing is that you're on a roll, you have the habit and understand the concept 8-)
youngpleb wrote: As Charlie Munger says, "the first 100k is a b*tch."
http://www.fourpillarfreedom.com/charli ... is-a-btch/
Nice article, thanks for posting!

Daedalus
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Re: I think I hit 100k on retirement milestone?

Post by Daedalus » Sun Jul 15, 2018 5:40 pm

Cycle wrote:
Sun Jul 15, 2018 1:46 pm
:sharebeer :dollar :moneybag :dollar :moneybag. I maxed out my 401k from when I was 23 onward. It took 12 years, but 401k is now at $500k. It was painful at times, having roommates when I could afford to live alone, saying no to new cars, but worth it. On track to FIRE with 2% SAWR at 47, 44 if market performs well.
That's awesome! Very motivating. I've gone through the roommate struggle too. Worth it in the long run

02nz
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Re: I think I hit 100k on retirement milestone?

Post by 02nz » Sun Jul 15, 2018 6:26 pm

achen9291 wrote:
Sun Jul 15, 2018 1:39 pm
To be honest it doesn't really feel any different that I hit this milestone I just felt like it took forever! I been investing since 2014 when I graduated college. Attempted to max out my retirement accounts since then but with job losses and losing matches it delayed my goals. I need some encouragement...
Image
Well done on reaching this mark so early, you're well ahead of most at your age. The good news is, each additional 100K in retirement savings should come more quickly, as your income and savings grow and as the returns on your existing balance compound. However, also keep in mind that you've had a heck of a tailwind with the bull market during this time, so don't expect that it will always go that way. The next 100K may come in two years, or it may take longer than the four it took to get to 100K. Just stay the course and keep plowing money into those retirement accounts, and always take full advantage of all tax-advantaged space.

foamypirate
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Re: I think I hit 100k on retirement milestone?

Post by foamypirate » Sun Jul 15, 2018 6:41 pm

Congratulations on your milestone! :sharebeer

I'm almost there, myself, about $5k away from crossing the 1st 100K line! Looking forward to it.

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AllieTB1323
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Re: I think I hit 100k on retirement milestone?

Post by AllieTB1323 » Sun Jul 15, 2018 6:55 pm

Outstanding! :sharebeer :sharebeer

You beat me by a decade. It gets easier. Compounding is our friend. :moneybag

Glockenspiel
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Re: I think I hit 100k on retirement milestone?

Post by Glockenspiel » Sun Jul 15, 2018 6:56 pm

Congrats! The first 100k is definitely the hardest! It goes up quickly after that!

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Tortoise Banker
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Re: Post your Financial Milestone Announcements Here

Post by Tortoise Banker » Mon Jul 16, 2018 2:54 pm

1st post in a long while...

Moved across country to a new job (downgrade in position--went from regional management down to managing a single location) but only took a $9000/yr pay cut. Sold our home, and downgraded slightly there too, so I own a $400k home free and clear now, and the old investment portfolio is up to $450,000. At 30 years old, we're well on our way.

...Wife is staying home with our two kids under 3, so our household income is quite a bit lower than the last 3 or 4 years, but still socking away between $20k & $30k/year. Hope to 'pull the plug' on the day job by age 45!
The winning strategy is simple, but not easy...

Streptococcus
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Seven figure milestone

Post by Streptococcus » Wed Jul 18, 2018 6:36 pm

[Thread merged into here, see below. --admin LadyGeek]

Not a big deal for many of you guys but I wanted to share reaching the seven figure networth. I thought I would celebrate after reaching it but turns out I did not. I reached this milestone a few months ago without realizing it. Even though I invest every 2 weeks, I dont really check the balance of my accounts often and I only rebalance every 3-4 months.

Anyway, thanks a lot for your posts
Next milestone seven figure portfolio, probably in 6-12 months, if the market agrees :)

JoeRetire
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Re: Seven figure milestone

Post by JoeRetire » Wed Jul 18, 2018 6:37 pm

Congratulations!

Do you count your home equity as part of your seven figure net worth? Or just investable assets?

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Tortoise Banker
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Re: Seven figure milestone

Post by Tortoise Banker » Wed Jul 18, 2018 6:38 pm

That's huge! Congrats!
The winning strategy is simple, but not easy...

The Wizard
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Re: Seven figure milestone

Post by The Wizard » Wed Jul 18, 2018 7:10 pm

We have a continuing separate thread for good announcements like this.
Perhaps LG will merge this one....
Attempted new signature...

averagedude
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Re: Seven figure milestone

Post by averagedude » Wed Jul 18, 2018 7:19 pm

Congrats! The first million is the hardest to get.

student
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Re: Seven figure milestone

Post by student » Wed Jul 18, 2018 7:22 pm

:sharebeer :sharebeer :sharebeer

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LadyGeek
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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Wed Jul 18, 2018 7:24 pm

I merged Streptococcus' thread into here.

Congrats!
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

ExitStageLeft
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Re: Post your Financial Milestone Announcements Here

Post by ExitStageLeft » Wed Jul 18, 2018 7:27 pm

I raise a virtual pint in your honor!
:beer

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ruralavalon
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Re: Seven figure milestone

Post by ruralavalon » Wed Jul 18, 2018 7:51 pm

Streptococcus wrote:
Wed Jul 18, 2018 6:36 pm
[Thread merged into here, see below. --admin LadyGeek]

Not a big deal for many of you guys but I wanted to share reaching the seven figure networth. I thought I would celebrate after reaching it but turns out I did not. I reached this milestone a few months ago without realizing it. Even though I invest every 2 weeks, I dont really check the balance of my accounts often and I only rebalance every 3-4 months.

Anyway, thanks a lot for your posts
Next milestone seven figure portfolio, probably in 6-12 months, if the market agrees :)
Congratulations on your 7 figure net worth :)

Hope you soon have the 7 figure in investments :) .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

yousha
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Re: Seven figure milestone

Post by yousha » Wed Jul 18, 2018 8:08 pm

ruralavalon wrote:
Wed Jul 18, 2018 7:51 pm
Streptococcus wrote:
Wed Jul 18, 2018 6:36 pm
[Thread merged into here, see below. --admin LadyGeek]

Not a big deal for many of you guys but I wanted to share reaching the seven figure networth. I thought I would celebrate after reaching it but turns out I did not. I reached this milestone a few months ago without realizing it. Even though I invest every 2 weeks, I dont really check the balance of my accounts often and I only rebalance every 3-4 months.

Anyway, thanks a lot for your posts
Next milestone seven figure portfolio, probably in 6-12 months, if the market agrees :)
Congratulations on your 7 figure net worth :)

Hope you soon have the 7 figure in investments :) .
I have been there and accomplished that and it is a wonderful feeling!

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TxAg
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Re: Seven figure milestone

Post by TxAg » Wed Jul 18, 2018 9:20 pm

Tortoise Banker wrote:
Wed Jul 18, 2018 6:38 pm
That's huge! Congrats!
Nice avatar!

keith6014
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Re: Post your Financial Milestone Announcements Here

Post by keith6014 » Wed Jul 18, 2018 9:36 pm

why don't people mention age, location and occupation/industry?

saying you have 3m at age 90 isn't a milestone FWIW

Grt2bOutdoors
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Re: Pulled the trigger and paid off the house today

Post by Grt2bOutdoors » Thu Jul 19, 2018 12:13 pm

warpork wrote:
Fri Jun 29, 2018 11:44 am
[Thread merged into here, see below (next page). --admin LadyGeek]

Just need to shout out and say, once again, we are completely debt free by paying off the remainder of our primary residence! Wanted to use this forum as an outlet to let out some joy somewhat anonymously.

This is the 2nd personal residence we've paid off. Lesson learned the first time, don't tell any friends/family except the closest......we had a big party the first time and invited all our friends. Long story short, we found out who our "real" friends were as there were quite a few that were very jealous and really stopped being our friends. These were the ones that always seemed to have more than us (new cars, jet skis, 4wheelers, etc), but always living pay check to pay check. Guess thought they were doing better than us then felt bad after they found out what we had been doing/done. So that being said, not planning on telling any friends this time except maybe 2 (who are also Bogleheads).

I understand there are better financial things I could have done with the money (although it wasn't all that much at this point), but once again, I feel the weight of the world off my shoulders (and that's priceless). Thanks to all for the other threads and discussions in the countless other topics on this subject!
Congrats on paying off the mortgage. If you need to do a debt free scream - call Dave Ramsey up, he'll take the call and he'll likely let you scream it out on national radio. I would not tell your 2 Boglehead friends either - people are people, while they may be geniunely happy for you, some will still be envious - you paid off your house at an earlier age than I, etc. :oops: Keep your mouth shut! Take your payment now and invest it in Total Stock Market Index, that is your new payment plan.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

Grt2bOutdoors
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Re: Post your Financial Milestone Announcements Here

Post by Grt2bOutdoors » Thu Jul 19, 2018 12:15 pm

keith6014 wrote:
Wed Jul 18, 2018 9:36 pm
why don't people mention age, location and occupation/industry?

saying you have 3m at age 90 isn't a milestone FWIW
Says who? How about if you started out with negative net worth? What about if you were worth $2M at age 65, lost most of it to some calamity and made it back to $3M? That's not an accomplishment, what is?
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon » Thu Jul 19, 2018 12:30 pm

Grt2bOutdoors wrote:
Thu Jul 19, 2018 12:15 pm
keith6014 wrote:
Wed Jul 18, 2018 9:36 pm
why don't people mention age, location and occupation/industry?

saying you have 3m at age 90 isn't a milestone FWIW
Says who? How about if you started out with negative net worth? What about if you were worth $2M at age 65, lost most of it to some calamity and made it back to $3M? That's not an accomplishment, what is?
Age 90 by itself would be an accomplishment :) .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

Grt2bOutdoors
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Re: Post your Financial Milestone Announcements Here

Post by Grt2bOutdoors » Thu Jul 19, 2018 12:57 pm

ruralavalon wrote:
Thu Jul 19, 2018 12:30 pm
Grt2bOutdoors wrote:
Thu Jul 19, 2018 12:15 pm
keith6014 wrote:
Wed Jul 18, 2018 9:36 pm
why don't people mention age, location and occupation/industry?

saying you have 3m at age 90 isn't a milestone FWIW
Says who? How about if you started out with negative net worth? What about if you were worth $2M at age 65, lost most of it to some calamity and made it back to $3M? That's not an accomplishment, what is?
Age 90 by itself would be an accomplishment :) .
That's true and I hope to see it myself one day.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

Green Street
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Re: Post your Financial Milestone Announcements Here

Post by Green Street » Fri Aug 03, 2018 10:52 am

Logged into PC and was pleasantly surprised to find out I crossed the 500k line in networth :shock: . Not really able to share with others but I want to thank the forum, been lurking here for years and I love the abundance of information here. Age 29, goal is to join many of you high achieving individuals in the two comma club before 34, and hopefully get my hands on some real estate between now and then.
Searching Through The FiRE

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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon » Fri Aug 03, 2018 11:05 am

Green Street wrote:
Fri Aug 03, 2018 10:52 am
Logged into PC and was pleasantly surprised to find out I crossed the 500k line in networth :shock: . Not really able to share with others but I want to thank the forum, been lurking here for years and I love the abundance of information here. Age 29, goal is to join many of you high achieving individuals in the two comma club before 34, and hopefully get my hands on some real estate between now and then.
Congratulations, that is far ahead of where I was at age 29.

Don't forget to enjoy life as you accumulate.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

Green Street
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Re: Post your Financial Milestone Announcements Here

Post by Green Street » Fri Aug 03, 2018 11:17 am

[/quote]
Congratulations, that is far ahead of where I was at age 29.

Don't forget to enjoy life as you accumulate.
[/quote]

Thank you, you’re right it’s a fine line between work and play, video games and travel are my escape, luckily I can game everyday :D
Searching Through The FiRE

schachtw
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Re: Post your Financial Milestone Announcements Here

Post by schachtw » Fri Aug 03, 2018 11:31 am

Wife and I reached the 5M milestone upon retirement. We feel most fortunate.

koolmelee
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Re: Poll: At what age did you hit $500k Net Worth

Post by koolmelee » Fri Aug 03, 2018 3:32 pm

[Thread merged into here, see below (next page). --admin LadyGeek]

Finally hit 500k net worth today at age 28!

I've been working 6 years full time and have 2 duplexes producing good income/appreciation. Well on my way to FI in 4-6 years if all goes well!

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LadyGeek
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Re: Poll: At what age did you hit $500k Net Worth

Post by LadyGeek » Fri Aug 03, 2018 3:45 pm

Feel free to post your accomplishment here: Post your Financial Milestone Announcements Here
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

Green Street
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Re: Poll: At what age did you hit $500k Net Worth

Post by Green Street » Fri Aug 03, 2018 3:50 pm

koolmelee wrote:
Fri Aug 03, 2018 3:32 pm
Finally hit 500k net worth today at age 28!

I've been working 6 years full time and have 2 duplexes producing good income/appreciation. Well on my way to FI in 4-6 years if all goes well!
Congrats!! I hit 500k a couple days ago too! Here’s to another 500k :sharebeer
Searching Through The FiRE

tesuzuki2002
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Re: Poll: At what age did you hit $500k Net Worth

Post by tesuzuki2002 » Fri Aug 03, 2018 3:57 pm

Green Street wrote:
Fri Aug 03, 2018 3:50 pm
koolmelee wrote:
Fri Aug 03, 2018 3:32 pm
Finally hit 500k net worth today at age 28!

I've been working 6 years full time and have 2 duplexes producing good income/appreciation. Well on my way to FI in 4-6 years if all goes well!
Congrats!! I hit 500k a couple days ago too! Here’s to another 500k :sharebeer
Congrats well done!!!

How much was organically generated?

how old are you??

theplayer11
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Re: Poll: At what age did you hit $500k Net Worth

Post by theplayer11 » Fri Aug 03, 2018 4:07 pm

another pat myself on the back thread? :D

koolmelee
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Re: Poll: At what age did you hit $500k Net Worth

Post by koolmelee » Fri Aug 03, 2018 4:11 pm

I am 28 as of last month.

Well, my parents gave me a car, which I still have and value at maybe 9k now, when I was 16 and that's about it. I got scholarships for college and lived at home during college and even for a bit after graduating. I've been working ever since as an engineer and got into rental property on the side shortly after.

If I had discovered this blog/FI strategies sooner, I'd probably be at the 700k mark, but ah well haha.

Green Street
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Re: Poll: At what age did you hit $500k Net Worth

Post by Green Street » Fri Aug 03, 2018 4:17 pm

tesuzuki2002 wrote:
Fri Aug 03, 2018 3:57 pm
Green Street wrote:
Fri Aug 03, 2018 3:50 pm
koolmelee wrote:
Fri Aug 03, 2018 3:32 pm
Finally hit 500k net worth today at age 28!

I've been working 6 years full time and have 2 duplexes producing good income/appreciation. Well on my way to FI in 4-6 years if all goes well!
Congrats!! I hit 500k a couple days ago too! Here’s to another 500k :sharebeer
Congrats well done!!!

How much was organically generated?

how old are you??

Thanks, I started with zero except a car my parents gave me for use until I was 21, in which it went to my brother and I had to get my own. They were gracious enough for me to stay home until 23, been renting since.

I’m 29
Searching Through The FiRE

Gill
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Re: Poll: At what age did you hit $500k Net Worth

Post by Gill » Fri Aug 03, 2018 4:20 pm

chaz wrote:
Sat Aug 03, 2013 1:41 pm
We hit 500K at 27.
Chaz, I believe you and I are about the same age and that was a fortune back in the '60's.
Gill

arrieros81
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Re: Poll: At what age did you hit $500k Net Worth

Post by arrieros81 » Fri Aug 03, 2018 4:23 pm

Just got there a few weeks ago.... age 37.

Miguelito
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Re: Poll: At what age did you hit $500k Net Worth

Post by Miguelito » Fri Aug 03, 2018 4:45 pm

We got there in our early 30's. Due to advanced degrees, we didn't start earning good money until our late 20's, and then spent the first couple of years paying off large school loans. Right around 30 the housing crash/recession happened, so our home equity and retirement balances shrank a lot. Shortly thereafter, through a combination of earnings, market recovery, and housing recovery (along with aggressive mortgage payments) our net worth started climbing quite quickly.

Also, and I'm sure many here can relate, if you made little to no money and all of a sudden you make a bunch, taxes will kill you. It's one thing to earn $1M over your thirties little by little since age 22, and another to make $330k in the last the years of your 20's. Taxes and compounding and retirement matching all matter.
Last edited by Miguelito on Fri Aug 03, 2018 5:11 pm, edited 1 time in total.

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TierArtz
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Re: Poll: At what age did you hit $500k Net Worth

Post by TierArtz » Fri Aug 03, 2018 4:51 pm

42, while in the military (fun times, lowish pay).

Mjar
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Re: Poll: At what age did you hit $500k Net Worth

Post by Mjar » Fri Aug 03, 2018 5:19 pm

I believe I was 33 when i hit 500k NW. Expecting based on current conditions to hit 7 figures by December when I will be 39.

that is based on me, wife with 2 kids where the wife's income was not that substantial compared to mine for most of my working career up until this past year.

SEAworld9
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Re: Poll: At what age did you hit $500k Net Worth

Post by SEAworld9 » Fri Aug 03, 2018 5:36 pm

34 (just last december). all liquid; no home equity, cars, spouse's income, inheritance, etc. included in that calculation.

Goal33
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Re: Poll: At what age did you hit $500k Net Worth

Post by Goal33 » Fri Aug 03, 2018 5:44 pm

26, a month ago. I am now 27.
A man with one watch always knows what time it is; a man with two watches is never sure.

wootwoot
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Re: Poll: At what age did you hit $500k Net Worth

Post by wootwoot » Fri Aug 03, 2018 6:02 pm

Why isn't there an option for people that haven't reached 500k yet?

FunnelCakeBob
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Re: Poll: At what age did you hit $500k Net Worth

Post by FunnelCakeBob » Fri Aug 03, 2018 8:35 pm

For those doubting their ability to achieve this mark or just out of school saddled with student loans, I was hammered by the 2009 recession and was unemployed for almost 2 years. Not trust-finded, only self-supporting, and a first generation American. Did not rely on parents for money, just good upbringing and common sense from immigrant family.

I hit 500k NW at 40 during the recovery. Should join two comma club at 45 next month or so. Stay the course and don't sweat the small stuff.

hesson11
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Re: Poll: At what age did you hit $500k Net Worth

Post by hesson11 » Fri Aug 03, 2018 8:50 pm

assumer wrote:
Mon Aug 05, 2013 7:08 am
These threads are both inspiring and frustrating. As a single person who is just going to be starting his career in his mid to late 20's with existing debt, I must admit a bit of jealousy. I know it's very individual and it shouldn't matter where others are as long as I am on track for my own goals, but sometimes we can't help how we feel about these things.
I hope my situation may fit into the "inspiring" category. I didn't hit 500K until I was 60. Today, I'm on the cusp of retirement with 35x my expected annual retirement expenses, which is almost 30% higher than the figure I once only hoped against hope that I'd reach. (Thank you, Vanguard and the stock market!) I never made what you'd call "a lot of money" and had no inheritance (in fact, I helped support my parents to a large degree along the way). Yes, I was fortunate to have been investing during a great time for stocks, but I also rode out the dot-com and mortgage crisis in true Boglehead fashion. Once you get a decent chunk of money, it's amazing how fast it can grow without a whole lot of effort on your part. In reading these pages and heeding BH advice, you are doing exactly the right thing. You will get there, possibly faster than you think and with more moolah than you think. Good luck!

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Sheepdog
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Re: Poll: At what age did you hit $500k Net Worth

Post by Sheepdog » Fri Aug 03, 2018 8:50 pm

This is unfair. According to the inflation calculator $500,000 today was only $77,060 in 1970. I think I had that then but didn't get $500K until years later (see my post earlier in this thread.)
(When I see that, it shows how wicked inflation is.)
It's not what you gather, but what you scatter which tells what kind of life you have lived---Helen Walton

smitty1515
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Re: Poll: At what age did you hit $500k Net Worth

Post by smitty1515 » Fri Aug 03, 2018 9:24 pm

Wife 35, Me 36. Coincidentally, it just happened last weekend nearly 10 years after starting career.

We are saving 50% of our after tax income and plan to cross the $1M NW in 5 years.

Of course market fluctuations could alter this but we can only control factors such as savings rate, investing in low cost funds, diversifying, etc....
Be fearful when others are greedy and greedy when others are fearful. -Warren Buffett

smitty1515
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Re: Poll: At what age did you hit $500k Net Worth

Post by smitty1515 » Fri Aug 03, 2018 9:37 pm

DetroitRed wrote:
Mon Aug 05, 2013 9:48 am
The additional piece of info I'd like to know is an estimate of how much in income (combined income for couples) plus gifts (inheritance) had the person earned over their lifetime when they reached 500k in savings.


A couple who had reached 500k at 30 but had cumulatively earned and/or inherited $5 million by that time is not that impressive.

Someone who had 500k at 50 but had only earned 800k in total by that time is extremely impressive.
Interesting thought....
$500k at 35/36
0 Inheritance
Started with $40k student loan and made some really stupid decisions about vehicles initially. Took until 2011 to pay off student debt and 2015 to stop making stupid vehicle decisions (i.e. leasing).

Income from when we started career(s) at 25/26 to when we hit $500k
Gross Amount: $1.3M
Tax/FICA: $293k
After Tax/FICA Amount: $1M
Be fearful when others are greedy and greedy when others are fearful. -Warren Buffett

Momus
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Re: Poll: At what age did you hit $500k Net Worth

Post by Momus » Fri Aug 03, 2018 11:34 pm

Single income making 140k/yr in CA. Reached it at 27 yr old (3 yrs past graduation). Double that at 30. Double again at 34. I am 34 now. All thanks for stock market bubble ran up and housing bubble... I don't think I will get anywhere as fast in the next 10 yr, I stop taking any OTs (used to work a lot) because I am getting old. Expecting inheritance in $5-10M range by the time I am 60+ but who is counting...?

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