Post your Financial Milestone Announcements Here

US Local Chapters, Wiki, and general Bogleheads community discussion, news, events, and announcements.
Post Reply
ArtsyProf
Posts: 245
Joined: Fri Dec 11, 2020 11:49 pm

Re: Finally cracked 100k in retirement accounts!

Post by ArtsyProf »

brian91480 wrote: Thu Apr 08, 2021 7:56 pm
elliott1234 wrote: Thu Apr 08, 2021 7:41 pm It took ~9 years but I got there! I'm 37, never made more than $37,000 a year but maxed out my Roth every year and had some small IRA's + matching from employers. Enjoying it before the market goes down :)
I know people who earn more than you... who will never sniff $100,000 in a retirement account. You should feel very proud of yourself. 😄👍
Congrats! Well done. This is what I keep telling my ArtsyFriends. It's not what you make... it's what you KEEP.
Dottie57
Posts: 12349
Joined: Thu May 19, 2016 5:43 pm
Location: Earth Northern Hemisphere

Re: Post your Financial Milestone Announcements Here

Post by Dottie57 »

Normchad wrote: Sat May 08, 2021 3:55 pm
Dottie57 wrote: Sat May 08, 2021 2:57 pm Hit over 2.1mm in net worth - including modest condo.
Congratulations! And a big Thank you for your great contributions to this forum!
Thank you - you are very kind. I look at the number and feel guilty - 20% comes fro inheritance.
Normchad
Posts: 5630
Joined: Thu Mar 03, 2011 6:20 am

Re: Post your Financial Milestone Announcements Here

Post by Normchad »

ArtsyProf wrote: Sat May 08, 2021 5:42 pm My net worth reached $250,000 for the first time! I am a quarter-millionaire! This is a big deal because I spent my 20s in grad school w loans (in the arts), my 30s working in contingent faculty positions (underpaid, but managed to save a few thousand in whatever plan was offered even in part time gigs) in VHCOL locations but/and paid off grad school loans, persisted with my career goals, and hit my stride w a full time job in my 40s. As a result, I started a 403b 7 years ago and then a 457 about 2 years ago. I increased my contributions during 2020 when expenses declined due to work from home and moving into share housing to save money. Luckily, I kept my job during the pandemic, found BH, made sure I had low ER choices picked when I had the options, and even started a brokerage account and a Roth IRA. Along the way, I invested in a very modest rental property that is paying for itself and has $90,000 equity in it now. No debt. The recent stock market gains and increasing my savings rate increased my balances. So.. $250,000 net worth in retirement accounts/savings/brokerage plus $90,000 equity invested in a rental condo. I am sooo proud of myself! :moneybag :sharebeer
This is terrific! It’s really hard starting out and getting things going in the right direction.

You’ve accomplished a lot, and you are really on your way now! Keep it up!
Last edited by Normchad on Sun May 09, 2021 12:05 pm, edited 1 time in total.
User avatar
ruralavalon
Posts: 26297
Joined: Sat Feb 02, 2008 9:29 am
Location: Illinois

Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

gips wrote: Sat May 01, 2021 8:34 pm we have three kids, we wrote our last college check this month.
Congratulations :D .

We have four children, through college without any loans.

I remember the end of college expenses, to me that felt like an enormous pay raise.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
User avatar
vgc303
Posts: 85
Joined: Mon Sep 21, 2020 1:06 pm

Re: Post your Financial Milestone Announcements Here

Post by vgc303 »

Just accepted a job offer for 120k per year + stock options. Was previously making 75k. I'm very excited!!
Normchad
Posts: 5630
Joined: Thu Mar 03, 2011 6:20 am

Re: Post your Financial Milestone Announcements Here

Post by Normchad »

vgc303 wrote: Tue May 11, 2021 10:34 pm Just accepted a job offer for 120k per year + stock options. Was previously making 75k. I'm very excited!!
That’s fantastic! Congratulations on your new job!
User avatar
Stinky
Posts: 14088
Joined: Mon Jun 12, 2017 11:38 am
Location: Sweet Home Alabama

Re: Post your Financial Milestone Announcements Here

Post by Stinky »

vgc303 wrote: Tue May 11, 2021 10:34 pm Just accepted a job offer for 120k per year + stock options. Was previously making 75k. I'm very excited!!
That is a HUGE increase in compensation. You should be excited!

Congratulations!
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
User avatar
David Jay
Posts: 14569
Joined: Mon Mar 30, 2015 5:54 am
Location: Michigan

Re: Post your Financial Milestone Announcements Here

Post by David Jay »

vgc303 wrote: Tue May 11, 2021 10:34 pm Just accepted a job offer for 120k per year + stock options. Was previously making 75k. I'm very excited!!
Now the key to retirement savings is to not inflate your lifestyle. At least half of your salary increase should go to retirement savings, for instance that is enough to “max-out” a regular 401K and make $6000 Roth contributions.
It's not an engineering problem - Hersh Shefrin | To get the "risk premium", you really do have to take the risk - nisiprius
bg5
Posts: 562
Joined: Mon Jan 15, 2018 10:07 am

Re: Post your Financial Milestone Announcements Here

Post by bg5 »

Doc7 wrote: Fri Apr 30, 2021 10:31 am Milestone:

As of April 2021 my wife and I are putting away 25.06% of income to retirement. 24% to tax advantaged accounts and 1% to a taxable account in a TSM ETF - ostensibly a “pay off mortgage 5-10 years early fund” but may be used for college or retirement, it should be 1X or more our annual expense to bridge some time to 59.5.

We are 36 with $730K invested assets and after matches we are putting away 32% / $62K a year and suddenly I feel like retiring in 18 years, depending on our 3X kids college expenses may be a possibility!

I always believed in “save 17% for retirement.” I included company match. Then over the last 3 years I said, let’s get to 17% pre match. Then over the last 3 months, our emergency fund finished ($650/mo savings was going there to get to 4.5 months expenses), and I just hit the brakes on our 529 plans also, and cranked us from 17% to 25% over the course of about 6 weeks. Our next couple years of raises will likely go back into 529s, I was saving $350/mo per kid and now only $30/mo per kid. But they say, “you can’t take out a loan for retirement” and by the time they go to college i could very well have $3M+ and dial back retirement to assist with college via cash flow.

Great post....my wife and I make a combined salary of about $160,000 and are putting away $53,000 annually into retirment. It amazes me how fast our accounts have grown in the past few years. We are 40 and 36 and have about $500,000 invested and we also pumped the breaks on the 529 accounts. Our plan is to continue to fund retirment and by the time kids go to college we will have alot of money in the bank and should be able to easily cash flow college. Congrats and its amazing to see how fast money grows in a hot market when you live well below your means. Keep up the good work
User avatar
vgc303
Posts: 85
Joined: Mon Sep 21, 2020 1:06 pm

Re: Post your Financial Milestone Announcements Here

Post by vgc303 »

David Jay wrote: Wed May 12, 2021 8:45 am
vgc303 wrote: Tue May 11, 2021 10:34 pm Just accepted a job offer for 120k per year + stock options. Was previously making 75k. I'm very excited!!
Now the key to retirement savings is to not inflate your lifestyle. At least half of your salary increase should go to retirement savings, for instance that is enough to “max-out” a regular 401K and make $6000 Roth contributions.
Absolutely! We managed to maintain a 30% savings rate prior to new job. We'll maintain that rate + a few percent by maxing our remaining 401k space plus starting regular contributions to our taxable (both Roths are already maxed).
KillerPortfolio
Posts: 16
Joined: Fri Mar 29, 2019 7:41 pm

Re: Post your Financial Milestone Announcements Here

Post by KillerPortfolio »

vgc303 wrote: Tue May 11, 2021 10:34 pm Just accepted a job offer for 120k per year + stock options. Was previously making 75k. I'm very excited!!
Congratulations! That is huge! Care to share how you managed such a large increase? I could use some pointers...
User avatar
vgc303
Posts: 85
Joined: Mon Sep 21, 2020 1:06 pm

Re: Post your Financial Milestone Announcements Here

Post by vgc303 »

KillerPortfolio wrote: Wed May 12, 2021 2:24 pm
vgc303 wrote: Tue May 11, 2021 10:34 pm Just accepted a job offer for 120k per year + stock options. Was previously making 75k. I'm very excited!!
Congratulations! That is huge! Care to share how you managed such a large increase? I could use some pointers...
Just go to the workplace, ask to see the manager and approach him while maintaining strong eye contact and tell him you need a job while giving him a firm handshake.

Kidding. Short answer would be luck. Longer answer would be work harder than everyone else everyday at current job, build a great reputation, build relationships, and maybe one of those relationships will reach out in the future to ask you to join their team.
HENRYGRUGER
Posts: 145
Joined: Mon Oct 12, 2020 11:32 pm

Re: Post your Financial Milestone Announcements Here

Post by HENRYGRUGER »

vgc303 wrote: Tue May 11, 2021 10:34 pm Just accepted a job offer for 120k per year + stock options. Was previously making 75k. I'm very excited!!
Unless you had to move to CA to do it, CONGRATS!!! (Cost of living based comment. Not necessarily a CA "hater.")

Now, If you were living within your means at $75,000 you still can, right? BANK IT ALL! Or most of it, for at least for 3-5 years.

I remember my first "big jump" in salary. Happy for you!
angelescrest
Posts: 1728
Joined: Tue May 27, 2008 10:48 am
Location: West Coast

Re: Post your Financial Milestone Announcements Here

Post by angelescrest »

We just crossed into the seven figure space. :shock:

There is a caveat here, however. We just sold our house, and the funds cleared. I wasn't really counting our home value as a part of our net worth since it's a moving target, but we are also not going to be buying a home anytime in the next couple years. So, the :moneybag is ours until we buy again. The home sale proceeds was about 15% of our net worth.

Still, adding up all the numbers across the accounts, and here we are, in a spot I could never have fathomed years ago. Definitely could not have fathomed it when I first logged onto Bogleheads and started asking questions. I had no idea what I was doing. Always wondered who those people were who hit the millionaire status and what they did. We never made a lot of money. I'm not even comfortable using that word--millionaire--in reference to myself. So, I'm not sure how I feel. How am I supposed to feel? Another day, another dollar. But I do think it's important to celebrate milestones, and as I've not told anyone I know, I'm sharing this with all of you. Wish I could sit down with a few of you in person to reflect, and buy you all a round. :beer
User avatar
Stinky
Posts: 14088
Joined: Mon Jun 12, 2017 11:38 am
Location: Sweet Home Alabama

Re: Post your Financial Milestone Announcements Here

Post by Stinky »

angelescrest wrote: Fri May 14, 2021 6:36 pm We just crossed into the seven figure space. :shock:

There is a caveat here, however. We just sold our house, and the funds cleared. I wasn't really counting our home value as a part of our net worth since it's a moving target, but we are also not going to be buying a home anytime in the next couple years. So, the :moneybag is ours until we buy again. The home sale proceeds was about 15% of our net worth.

Still, adding up all the numbers across the accounts, and here we are, in a spot I could never have fathomed years ago. Definitely could not have fathomed it when I first logged onto Bogleheads and started asking questions. I had no idea what I was doing. Always wondered who those people were who hit the millionaire status and what they did. We never made a lot of money. I'm not even comfortable using that word--millionaire--in reference to myself. So, I'm not sure how I feel. How am I supposed to feel? Another day, another dollar. But I do think it's important to celebrate milestones, and as I've not told anyone I know, I'm sharing this with all of you. Wish I could sit down with a few of you in person to reflect, and buy you all a round. :beer
Congratulations! And thank you so much for sharing your story.

You can repeat it - you are a millionaire.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
angelescrest
Posts: 1728
Joined: Tue May 27, 2008 10:48 am
Location: West Coast

Re: Post your Financial Milestone Announcements Here

Post by angelescrest »

Stinky wrote: Fri May 14, 2021 9:11 pm
angelescrest wrote: Fri May 14, 2021 6:36 pm We just crossed into the seven figure space. :shock:

There is a caveat here, however. We just sold our house, and the funds cleared. I wasn't really counting our home value as a part of our net worth since it's a moving target, but we are also not going to be buying a home anytime in the next couple years. So, the :moneybag is ours until we buy again. The home sale proceeds was about 15% of our net worth.

Still, adding up all the numbers across the accounts, and here we are, in a spot I could never have fathomed years ago. Definitely could not have fathomed it when I first logged onto Bogleheads and started asking questions. I had no idea what I was doing. Always wondered who those people were who hit the millionaire status and what they did. We never made a lot of money. I'm not even comfortable using that word--millionaire--in reference to myself. So, I'm not sure how I feel. How am I supposed to feel? Another day, another dollar. But I do think it's important to celebrate milestones, and as I've not told anyone I know, I'm sharing this with all of you. Wish I could sit down with a few of you in person to reflect, and buy you all a round. :beer
Congratulations! And thank you so much for sharing your story.

You can repeat it - you are a millionaire.
Thank you! Thirteen years ago I had $30,000 exactly in my retirement accounts, and tons of school and housing debt from the Great Recession. If I can make it, many Americans can. But of course, this is just a step toward the goal of financial independence and enough money to provide my children a rewarding college education.
Nowizard
Posts: 4827
Joined: Tue Oct 23, 2007 5:33 pm

Re: Post your Financial Milestone Announcements Here

Post by Nowizard »

All is well with current assets relative to expenditures and investment returns and will remain so whether additional increases, decreases or a correction occurs during the remainder of the year.
Tim
vv19
Posts: 1159
Joined: Thu Aug 23, 2012 8:56 am

Hello, 2 comma club

Post by vv19 »

[This thread has been merged into the "Post your Financial Milestone Announcement Here" topic in the Bogleheads Community forum- Mod Misenplace.]

With yesterday's market melt up, our portfolio + cash position hit 1M+. My hands are numb as I type this, it feels completely surreal. With a generous stock market and high saving rate, it has taken us less than 10 years to get here. Just wanted to share it with the BH here - don't think it would have been possible without the education I got here. I showed the number on the spreadsheet to my wife and she just shrugged and said "that's nice." :D

I have experimented a lot with different funds since I started investing (active funds, sector funds, momentum funds, and most recently - the ARK ones). But one thing I have been consistent about is aggressive saving, putting that money in the market, and staying invested. Never in the last 10 years have I sold out and sat in cash. Current portfolio is 60% VTI, 30% QQQ, and 10% (ARKK+ARKF).

Excited to see what the next decade brings! I plan to keep our saving rate going and hopefully the market returns will assist in hitting 3M before I turn 50 (currently 38 y/o).
Last edited by vv19 on Tue May 25, 2021 9:28 am, edited 1 time in total.
User avatar
markjk
Posts: 540
Joined: Wed Oct 07, 2020 6:01 am

Re: Hello, 2 comma club

Post by markjk »

Congratulations! In Bogleheads fashion, I'll just say be prepared for a few downs and ups. You might very well drop below that number and then back up again a couple of times depending on future market behavior. But yes, that is a huge milestone and something worth celebrating. Nice to see the process working, isn't it?
:sharebeer
vv19
Posts: 1159
Joined: Thu Aug 23, 2012 8:56 am

Re: Hello, 2 comma club

Post by vv19 »

markjk wrote: Tue May 25, 2021 9:24 am Congratulations! In Bogleheads fashion, I'll just say be prepared for a few downs and ups. You might very well drop below that number and then back up again a couple of times depending on future market behavior. But yes, that is a huge milestone and something worth celebrating. Nice to see the process working, isn't it?
:sharebeer
Indeed it is! It is pretty incredible how quickly it happened after we hit 500k. Compounding really is amazing! :moneybag
yohac
Posts: 560
Joined: Sat Sep 01, 2018 1:42 pm

Re: Hello, 2 comma club

Post by yohac »

jay22 wrote: Tue May 25, 2021 9:19 am I showed the number on the spreadsheet to my wife and she just shrugged and said "that's nice." :D
My wife had much the same reaction, finding it about as interesting as last night's baseball score.
Randolph Mortimer
Posts: 120
Joined: Thu Mar 12, 2020 7:13 pm

Re: Hello, 2 comma club

Post by Randolph Mortimer »

Congrats, you have been very fortunate. Now might be a good time to reassess your ability, willingness, and need for risk as it relates to your asset allocation.
mptfan
Posts: 7201
Joined: Mon Mar 05, 2007 8:58 am

Re: Hello, 2 comma club

Post by mptfan »

Congratulations. I know this is not something you can talk about with most people, but you are welcome to talk about it here! Well done.
vv19
Posts: 1159
Joined: Thu Aug 23, 2012 8:56 am

Re: Hello, 2 comma club

Post by vv19 »

Randolph Mortimer wrote: Tue May 25, 2021 9:38 am Congrats, you have been very fortunate. Now might be a good time to reassess your ability, willingness, and need for risk as it relates to your asset allocation.
Absolutely. Slowly I am moving out of my ARK positions and putting that money in VTI. Don't see a role for bonds in my portfolio with the current rates, but I have enough cash to absorb the shocks.
User avatar
djpeteski
Posts: 1078
Joined: Fri Mar 31, 2017 9:07 am

Re: Hello, 2 comma club

Post by djpeteski »

Very well done in a climate of spend, spend, spend. You are very young to reach this milestones.

Of those you do tell, beware of those that would diminish you accomplishment. There are people that rate the Grand Canyon with one star. Nothing/no one is immune from the haters.
heyyou
Posts: 4452
Joined: Tue Feb 20, 2007 3:58 pm

Re: Hello, 2 comma club

Post by heyyou »

Congratulations on your accomplishment.
How many years since your first stock market investment and was it a single stock or a mutual fund, and how long since you started owning index funds?
DoTheMath
Posts: 670
Joined: Sat Jul 04, 2015 1:11 pm
Location: The Plains

Re: Hello, 2 comma club

Post by DoTheMath »

Congratulations and welcome!

We crossed the line sometime in the past year, although I didn't notice at the time and still couldn't quite say when without going back and doing some numbers.
“I am losing precious days. I am degenerating into a machine for making money. I am learning nothing in this trivial world of men. I must break away and get out into the mountains...” -- John Muir
mikejuss
Posts: 2749
Joined: Tue Jun 23, 2020 1:36 pm

Re: Hello, 2 comma club

Post by mikejuss »

Well done!

Now stop buying actively managed funds. :annoyed
50% VTSAX | 25% VTIAX | 25% VBTLX (retirement), 25% VTEAX (taxable)
vv19
Posts: 1159
Joined: Thu Aug 23, 2012 8:56 am

Re: Hello, 2 comma club

Post by vv19 »

djpeteski wrote: Tue May 25, 2021 9:54 am Very well done in a climate of spend, spend, spend. You are very young to reach this milestones.

Of those you do tell, beware of those that would diminish you accomplishment. There are people that rate the Grand Canyon with one star. Nothing/no one is immune from the haters.
Thank you. We are pretty good at delayed gratification, so that certainly helps! :D
vv19
Posts: 1159
Joined: Thu Aug 23, 2012 8:56 am

Re: Hello, 2 comma club

Post by vv19 »

mikejuss wrote: Tue May 25, 2021 10:22 am Well done!

Now stop buying actively managed funds. :annoyed
I know! Cannot help with the itch that needs to be scratched at times, but I am trying to be better about it.
vv19
Posts: 1159
Joined: Thu Aug 23, 2012 8:56 am

Re: Hello, 2 comma club

Post by vv19 »

heyyou wrote: Tue May 25, 2021 10:02 am Congratulations on your accomplishment.
How many years since your first stock market investment and was it a single stock or a mutual fund, and how long since you started owning index funds?
I started investing in June 2012 (opened my IRA account that month). Pretty sure the first investment was VTSAX. 80-85% of my portfolio has always been invested in index funds. Some folks would disagree on QQQ being an index fund, but that's ok. :)
Last edited by vv19 on Tue May 25, 2021 6:25 pm, edited 1 time in total.
User avatar
Brianmcg321
Posts: 1874
Joined: Mon Jul 15, 2019 8:23 am

Re: Hello, 2 comma club

Post by Brianmcg321 »

Congrats. Its a great feeling of accomplishment.

After a month or two of see-sawing back and forth its starts feel more normal.

Of course my wife keeps saying "If we are millionaires, how come I don't have a brand new Tahoe yet?" LOL.
Rules to investing: | 1. Don't lose money. | 2. Don't forget rule number 1.
mikejuss
Posts: 2749
Joined: Tue Jun 23, 2020 1:36 pm

Re: Hello, 2 comma club

Post by mikejuss »

jay22 wrote: Tue May 25, 2021 10:24 am
mikejuss wrote: Tue May 25, 2021 10:22 am Well done!

Now stop buying actively managed funds. :annoyed
I know! Cannot help with the itch that needs to be scratched at times, but I am trying to be better about it.
I know that the returns are great now, but you'll be better served by passively managed index funds (including--horror of horrors--bonds) in the long run.
50% VTSAX | 25% VTIAX | 25% VBTLX (retirement), 25% VTEAX (taxable)
vv19
Posts: 1159
Joined: Thu Aug 23, 2012 8:56 am

Re: Hello, 2 comma club

Post by vv19 »

Brianmcg321 wrote: Tue May 25, 2021 10:30 am Congrats. Its a great feeling of accomplishment.

After a month or two of see-sawing back and forth its starts feel more normal.

Of course my wife keeps saying "If we are millionaires, how come I don't have a brand new Tahoe yet?" LOL.
Good thing my wife is happy with her 2014 Civic. :D
User avatar
ruralavalon
Posts: 26297
Joined: Sat Feb 02, 2008 9:29 am
Location: Illinois

Re: Hello, 2 comma club

Post by ruralavalon »

Congratulations on joining the 2 comma club :)
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
Misenplace
Moderator
Posts: 6091
Joined: Mon Feb 01, 2016 8:46 pm

Re: Post your Financial Milestone Announcements Here

Post by Misenplace »

Congratulations jay22! Quite an achievement at your age.

I merged your thread into the existing topic we maintain for posting milestones. Be sure to come back and post when you hit the second mil. :sharebeer
vv19
Posts: 1159
Joined: Thu Aug 23, 2012 8:56 am

Re: Post your Financial Milestone Announcements Here

Post by vv19 »

Misenplace wrote: Tue May 25, 2021 11:01 am Congratulations jay22! Quite an achievement at your age.

I merged your thread into the existing topic we maintain for posting milestones. Be sure to come back and post when you hit the second mil. :sharebeer
Hopefully sooner rather than later!
go2run
Posts: 159
Joined: Wed Mar 08, 2017 12:34 pm

Re: Post your Financial Milestone Announcements Here

Post by go2run »

Just hit the 7 figure mark in one of our Roth accounts. It's exciting to hit that mark and it's even more exciting to think that there are NO tax obligations on the growth. :sharebeer
achillesheel
Posts: 127
Joined: Thu Mar 12, 2020 2:19 pm

Re: Post your Financial Milestone Announcements Here

Post by achillesheel »

go2run wrote: Tue Jun 01, 2021 9:42 am Just hit the 7 figure mark in one of our Roth accounts. It's exciting to hit that mark and it's even more exciting to think that there are NO tax obligations on the growth. :sharebeer
That's amazing. In ONE of your Roth accounts? I assume you used the backdoor roth strategy, or is this just straight contributions to a roth IRA? In either case, congratulations.
The unexamined life is not worth living.
go2run
Posts: 159
Joined: Wed Mar 08, 2017 12:34 pm

Re: Post your Financial Milestone Announcements Here

Post by go2run »

achillesheel wrote: Tue Jun 01, 2021 9:52 am
That's amazing. In ONE of your Roth accounts? I assume you used the backdoor roth strategy, or is this just straight contributions to a roth IRA? In either case, congratulations.
We haven't been able to contribute to our Roth accounts for about 4 years now. I've been wanting to contribute via the backdoor method but our rollover tIRA account balances are deterring us from doing it. So, the growth is primarily market growth over the years.
User avatar
ruralavalon
Posts: 26297
Joined: Sat Feb 02, 2008 9:29 am
Location: Illinois

Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

go2run wrote: Tue Jun 01, 2021 9:42 am Just hit the 7 figure mark in one of our Roth accounts. It's exciting to hit that mark and it's even more exciting to think that there are NO tax obligations on the growth. :sharebeer
go2run wrote: Tue Jun 01, 2021 10:09 am
achillesheel wrote: Tue Jun 01, 2021 9:52 am
That's amazing. In ONE of your Roth accounts? I assume you used the backdoor roth strategy, or is this just straight contributions to a roth IRA? In either case, congratulations.
We haven't been able to contribute to our Roth accounts for about 4 years now. I've been wanting to contribute via the backdoor method but our rollover tIRA account balances are deterring us from doing it. So, the growth is primarily market growth over the years.
Congratulations :D .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
Grt2bOutdoors
Posts: 25617
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: Post your Financial Milestone Announcements Here

Post by Grt2bOutdoors »

go2run wrote: Tue Jun 01, 2021 10:09 am
achillesheel wrote: Tue Jun 01, 2021 9:52 am
That's amazing. In ONE of your Roth accounts? I assume you used the backdoor roth strategy, or is this just straight contributions to a roth IRA? In either case, congratulations.
We haven't been able to contribute to our Roth accounts for about 4 years now. I've been wanting to contribute via the backdoor method but our rollover tIRA account balances are deterring us from doing it. So, the growth is primarily market growth over the years.
Wow, congratulations! That is a home run alright!
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Wannaretireearly
Posts: 4846
Joined: Wed Mar 31, 2010 4:39 pm

Re: Post your Financial Milestone Announcements Here

Post by Wannaretireearly »

go2run wrote: Tue Jun 01, 2021 10:09 am
achillesheel wrote: Tue Jun 01, 2021 9:52 am
That's amazing. In ONE of your Roth accounts? I assume you used the backdoor roth strategy, or is this just straight contributions to a roth IRA? In either case, congratulations.
We haven't been able to contribute to our Roth accounts for about 4 years now. I've been wanting to contribute via the backdoor method but our rollover tIRA account balances are deterring us from doing it. So, the growth is primarily market growth over the years.
👏 well done ! What funds in the Roth if you don't mind sharing? Cheers
“At some point you are trading time you will never get back for money you will never spend.“ | “How do you want to spend the best remaining year of your life?“
go2run
Posts: 159
Joined: Wed Mar 08, 2017 12:34 pm

Re: Post your Financial Milestone Announcements Here

Post by go2run »

Wannaretireearly wrote: Tue Jun 01, 2021 12:35 pm
👏 well done ! What funds in the Roth if you don't mind sharing? Cheers
I did have some individual stock in the account but have reallocated to VTSAX and VTIAX. It is mostly VTSAX at this point.
Ed 2
Posts: 2692
Joined: Sat May 15, 2010 9:34 am

Re: Post your Financial Milestone Announcements Here

Post by Ed 2 »

A question. Is this for one milestone or more? Jus sayin ;)
P.s VTSAX and chill
"The fund industry doesn't have a lot of heroes, but he (Bogle) is one of them," Russ Kinnel
Wannaretireearly
Posts: 4846
Joined: Wed Mar 31, 2010 4:39 pm

Re: Post your Financial Milestone Announcements Here

Post by Wannaretireearly »

go2run wrote: Tue Jun 01, 2021 6:48 pm
Wannaretireearly wrote: Tue Jun 01, 2021 12:35 pm
👏 well done ! What funds in the Roth if you don't mind sharing? Cheers
I did have some individual stock in the account but have reallocated to VTSAX and VTIAX. It is mostly VTSAX at this point.
Thanks!
“At some point you are trading time you will never get back for money you will never spend.“ | “How do you want to spend the best remaining year of your life?“
User avatar
DarkNyte
Posts: 75
Joined: Mon May 18, 2015 10:15 am

Re: Post your Financial Milestone Announcements Here

Post by DarkNyte »

At market close today finally crossed the 2 million net worth milestone today. I forgot to post when I passed the 500k and 1 million milestones so I'll make up for it today. We rent so all of our net worth is either in brokerage or retirement accounts.

I finished my last year of medical training in 2014 and had a net worth of negative 25k. I had been diligent in saving during residency and it helped to keep my debt low, but I knew nothing about diversified investing. I found this forum in 2014 and it really helped me to formulate a simple automated investing strategy and I am so thankful for all the investing knowledge shared in this forum. I decided on a simple 4 fund portfolio which has had the same asset allocation since I started index investing in 2014. This really helped me to stay the course, especially during turbulent times such as last year.

VTI 50%
VXUS 25%
VNQ 12.5%
BND 12.5%

We passed the 500k net worth milestone July 2017, and passed our 1 million milestone for the first time in April 2019. So 3 years to 500k, 2 more years for 1 million, then an additional 2 years for 2 million. We couldn't have done it without all the help on this forum. Thank you.

At age 37 we are close to 25X expenses saved, so now we are needing to decide when enough is enough. Maybe at the 3 million milestone.
User avatar
FlatSix
Posts: 331
Joined: Thu Jan 16, 2020 8:37 pm

Re: Post your Financial Milestone Announcements Here

Post by FlatSix »

DarkNyte wrote: Wed Jun 02, 2021 4:11 pm At market close today finally crossed the 2 million net worth milestone today. I forgot to post when I passed the 500k and 1 million milestones so I'll make up for it today. We rent so all of our net worth is either in brokerage or retirement accounts.

I finished my last year of medical training in 2014 and had a net worth of negative 25k. I had been diligent in saving during residency and it helped to keep my debt low, but I knew nothing about diversified investing. I found this forum in 2014 and it really helped me to formulate a simple automated investing strategy and I am so thankful for all the investing knowledge shared in this forum. I decided on a simple 4 fund portfolio which has had the same asset allocation since I started index investing in 2014. This really helped me to stay the course, especially during turbulent times such as last year.

VTI 50%
VXUS 25%
VNQ 12.5%
BND 12.5%

We passed the 500k net worth milestone July 2017, and passed our 1 million milestone for the first time in April 2019. So 3 years to 500k, 2 more years for 1 million, then an additional 2 years for 2 million. We couldn't have done it without all the help on this forum. Thank you.

At age 37 we are close to 25X expenses saved, so now we are needing to decide when enough is enough. Maybe at the 3 million milestone.
Congratulations! About 7 years of practice and knocking on the door of financial independence. Sounds like your student loan burden was very manageable. What percentage of your gross have you saved every year? Is your partner a physician as well?

I finished training in 2018 at the age of 32. Hoping to hit FI in 3-4 years, and very, very comfortable FI in 5-6. Time flies.
User avatar
DarkNyte
Posts: 75
Joined: Mon May 18, 2015 10:15 am

Re: Post your Financial Milestone Announcements Here

Post by DarkNyte »

calvin+hobbes wrote: Wed Jun 02, 2021 7:37 pm
DarkNyte wrote: Wed Jun 02, 2021 4:11 pm At market close today finally crossed the 2 million net worth milestone today. I forgot to post when I passed the 500k and 1 million milestones so I'll make up for it today. We rent so all of our net worth is either in brokerage or retirement accounts.

I finished my last year of medical training in 2014 and had a net worth of negative 25k. I had been diligent in saving during residency and it helped to keep my debt low, but I knew nothing about diversified investing. I found this forum in 2014 and it really helped me to formulate a simple automated investing strategy and I am so thankful for all the investing knowledge shared in this forum. I decided on a simple 4 fund portfolio which has had the same asset allocation since I started index investing in 2014. This really helped me to stay the course, especially during turbulent times such as last year.

VTI 50%
VXUS 25%
VNQ 12.5%
BND 12.5%

We passed the 500k net worth milestone July 2017, and passed our 1 million milestone for the first time in April 2019. So 3 years to 500k, 2 more years for 1 million, then an additional 2 years for 2 million. We couldn't have done it without all the help on this forum. Thank you.

At age 37 we are close to 25X expenses saved, so now we are needing to decide when enough is enough. Maybe at the 3 million milestone.
Congratulations! About 7 years of practice and knocking on the door of financial independence. Sounds like your student loan burden was very manageable. What percentage of your gross have you saved every year? Is your partner a physician as well?

I finished training in 2018 at the age of 32. Hoping to hit FI in 3-4 years, and very, very comfortable FI in 5-6. Time flies.
Our savings rate ramped up once my student loan debt and car debt was completed paid off, which was middle of 2016. After that our savings rate is 55 to 60% gross income, taxes 20%, and the remaining 20% for living expenses. We live in a VHCOL area in Southern California, so we could have saved more if we lived somewhere else, but we like where we are now. My wife is a stay at home mom for our two children. She recently started working part time for our church, but it's only around 10K a year, so 99% of all of the savings has come from one income.
Sasquatch1
Posts: 180
Joined: Tue Feb 18, 2020 8:19 am

Re: Post your Financial Milestone Announcements Here

Post by Sasquatch1 »

34.

Own out right two SFH rentals, worth around 300k on market combined. Around 20k cash flow per year from them

Own my house which is under contract though, sister bought so I didn't sell for profit. Break even and will get my 125k back. Big nice house but hurricane Issac flooded it out so bought for next to nothing, renovated and lived note free for 4 years. Worth 240ish on market now. (sister in good shape going forward)

Just bought another house for myself on mortgage. 20% down @ 250k price

Hit 550K in 401k. Salary around 150k yr OT depending

All in all including the equity in my new house, Worth around 1m.
Post Reply