Post your Financial Milestone Announcements Here

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Alex Frakt
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Post your Financial Milestone Announcements Here

Post by Alex Frakt » Tue Jan 09, 2018 2:22 am

Following the discussions at viewtopic.php?f=3&t=237250, we are going to make this an omnibus thread for member announcements that they have reached a financial milestone such as achieving a million in net worth, aka, joining the 2 Comma Club, and member responses to those announcements. If we find new threads on this topic posted elsewhere, they will be merged here.

Please note that if your post is primarily a question about investing or personal finance strategy,, even if it includes a note about reaching a milestone, please post in the appropriate forums so they get individualized attention.

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White Coat Investor
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Re: Post your Financial Milestone Announcements Here

Post by White Coat Investor » Tue Jan 09, 2018 2:34 am

Ha ha, good timing as we just did our annual net worth update. We hit our "number" this year. Yay us. But our most significant milestone for 2017 and the one we're most proud of was giving away more than we spent. I hope that will continue for many years.

And since I'm putting up the second post in this thread, I just wanted to say congratulations in advance to all who reached a big milestone. Celebrate them. They really are noteworthy accomplishments. I'm proud of you.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

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Re: Post your Financial Milestone Announcements Here

Post by TwstdSista » Tue Jan 09, 2018 4:49 am

Woo hoo WCI -- many congratulations!!

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Re: Post your Financial Milestone Announcements Here

Post by Snowjob » Tue Jan 09, 2018 7:28 am

Wow congrats!! I feel like it was just 7 or 8 years ago you got out of residency.

I think one thing that I've learned more than anything else in the last 10 years when it comes to milestones, net worth and goal posts is that getting a great job matters a LOT. You can certainly save and bank on the stock market, but what drives you forward on the economic spectrum is your wealth relative to your peers. Yes I know your not supposed to worry about the Joneses but collectively you + all the Joneses make up the market place and set prices. If we all use the stock market we all have the same driver of returns so the only way to really get ahead is to save more and the with out question most important piece to that is how much you can earn. I hit a big milestone myself a year or so ago and relative to people of my income level it looks fantastic, but had I just chosen a different path, been more aggressive about my career in business etc I would be a significantly higher salary level and that milestone may not be nearly as impressive (nor would it have taken as much effort time and risk to get there).

Anyway thanks for posting. I wonder what Market Timer is up to these days. He and I were experimenting with (dying from??) leverage on the way down in 2008 and are near the same age as far as I can tell. Interesting to see his change in philosophy over time when it comes to money, work, spending the portfolio etc.

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Re: Post your Financial Milestone Announcements Here

Post by Sandtrap » Wed Jan 10, 2018 2:20 am

I have part of a CD ladder maturing and the proceeds will help to rebalance my portfolio.
If not for the Bogleheads, and Jack Bogle, I would not know what "rebalance" meant.
j :D
Last edited by Sandtrap on Wed Jan 10, 2018 10:14 pm, edited 2 times in total.

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cinghiale
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Re: Post your Financial Milestone Announcements Here

Post by cinghiale » Wed Jan 10, 2018 3:32 am

A milestone of sorts...

Now two full years into retirement, and have had the good fortune of strong market tailwinds since then. Stepping out of the accumulation phase, with the comfort and security of a monthly paycheck, and into the distribution phase, with the shuddering realization that the seed corn is being eaten, is an emotional and cognitive challenge. No matter how the numbers look on paper, there’s still a “stepping off the high diving board” feel to stopping work and beginning retirement.

The two year mark showed net portfolio appreciation of 7% in 2016 and 8% in 2017. With a conservative asset allocation of 35/60/5, and a withdrawal rate of right around 2.75%, we are off to a very good start. These first two years included many transitional expenses, and so I’m looking for a lower withdrawal rate for 2018. In sum, I think we have weathered the fear and trepidation season, and have reached the milestone of confidence in our retirement plans and decisions. As always, I want to recognize the wisdom of crowds in the collective insights, knowledge, and wisdom on daily display in this forum. :sharebeer to all.
"We don't see things as they are; we see them as we are." Anais Nin | | "Sometimes the first duty of intelligent men is the restatement of the obvious." George Orwell

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Re: Post your Financial Milestone Announcements Here

Post by Sandtrap » Wed Jan 10, 2018 10:53 am

cinghiale wrote:
Wed Jan 10, 2018 3:32 am
A milestone of sorts...

Now two full years into retirement, and have had the good fortune of strong market tailwinds since then. Stepping out of the accumulation phase, with the comfort and security of a monthly paycheck, and into the distribution phase, with the shuddering realization that the seed corn is being eaten, is an emotional and cognitive challenge. No matter how the numbers look on paper, there’s still a “stepping off the high diving board” feel to stopping work and beginning retirement.

The two year mark showed net portfolio appreciation of 7% in 2016 and 8% in 2017. With a conservative asset allocation of 35/60/5, and a withdrawal rate of right around 2.75%, we are off to a very good start. These first two years included many transitional expenses, and so I’m looking for a lower withdrawal rate for 2018. In sum, I think we have weathered the fear and trepidation season, and have reached the milestone of confidence in our retirement plans and decisions. As always, I want to recognize the wisdom of crowds in the collective insights, knowledge, and wisdom on daily display in this forum. :sharebeer to all.
Congratulations :sharebeer
j :D

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Re: Post your Financial Milestone Announcements Here

Post by Sandtrap » Wed Jan 10, 2018 10:56 am

White Coat Investor wrote:
Tue Jan 09, 2018 2:34 am
Ha ha, good timing as we just did our annual net worth update. We hit our "number" this year. Yay us. But our most significant milestone for 2017 and the one we're most proud of was giving away more than we spent. I hope that will continue for many years.

And since I'm putting up the second post in this thread, I just wanted to say congratulations in advance to all who reached a big milestone. Celebrate them. They really are noteworthy accomplishments. I'm proud of you.
Congratulations.
:sharebeer

I have sent your book to a nephew, fresh out of residency and into private practice.

Are you going to write another book?

j :D

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Re: Post your Financial Milestone Announcements Here

Post by White Coat Investor » Wed Jan 10, 2018 1:13 pm

Snowjob wrote:
Tue Jan 09, 2018 7:28 am
Wow congrats!! I feel like it was just 7 or 8 years ago you got out of residency.
Nearly 12 actually, but WCI knocked about a decade off the original plan. Probably would have knocked 4-5 years off even without WCI.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

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Re: Post your Financial Milestone Announcements Here

Post by White Coat Investor » Wed Jan 10, 2018 1:15 pm

Sandtrap wrote:
Wed Jan 10, 2018 10:56 am
Are you going to write another book?
Already did. It just needs to be packaged up and published. I sent it out to my email list a chaper at a time. You can still get it if you want- Financial Bootcamp.

My third one will be all about tax reduction, but I put it off when Congress started messing with the tax code last Fall. Hopefully I'll get it written this year. We'll see. Lots of pans in the fire right now.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

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Re: Post your Financial Milestone Announcements Here

Post by Snowjob » Wed Jan 10, 2018 2:41 pm

cinghiale wrote:
Wed Jan 10, 2018 3:32 am
A milestone of sorts...

Now two full years into retirement, and have had the good fortune of strong market tailwinds since then. Stepping out of the accumulation phase, with the comfort and security of a monthly paycheck, and into the distribution phase, with the shuddering realization that the seed corn is being eaten, is an emotional and cognitive challenge. No matter how the numbers look on paper, there’s still a “stepping off the high diving board” feel to stopping work and beginning retirement.
Congrats -- That shift to withdrawals will be painful for me no doubt down the road. All in the head for sure, but it certainly makes the idea of a pension sound even more appealing than it already is -- to bad they don't exist anymore! Did you purchase an annuity to help with this transition, it may not make as much financial sense but sometimes I wonder if behavior wise its worth it...

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Re: Post your Financial Milestone Announcements Here

Post by cinghiale » Wed Jan 10, 2018 3:00 pm

Snowjob asked:
Did you purchase an annuity to help with this transition, it may not make as much financial sense but sometimes I wonder if behavior wise its worth it...
Yes, a small one that pays around $1750.00 per month for ten years. It will take me to 70.5 years old, almost to the month. The next question is when to take Social Security benefits. Past that, I would not be averse* to purchasing an annuity that would complete the job of covering core expenses. That seems to make good financial and common sense.



*Word choice just in case livesoft happens to drop in.
"We don't see things as they are; we see them as we are." Anais Nin | | "Sometimes the first duty of intelligent men is the restatement of the obvious." George Orwell

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Re: Post your Financial Milestone Announcements Here

Post by Meg77 » Wed Jan 10, 2018 3:15 pm

Well I wasn't going to post this, but since I was prompted by this new thread title, here goes!

My husband and I surpassed a net worth of $2,000,000 yesterday for the first time. :moneybag

With bonuses pending and a strong savings rate, we should stay above this level even if/when the market corrects. In reality we've probably been here for a while due to RE values, but I list those at cost on my balance sheet so it's staring at me in print for the first time. We hit $1MM 3 years and 9 months ago (the month we got married), and we expect to hit $3MM in 3 more years (if there are no major market downturns or income gaps).

To be honest I haven't even told my husband yet, and I'm sure we won't do anything special to celebrate. I feel a bit selfish/guilty even being excited about this milestone. However it is a major one for me since I feel that it marks a true sense of financial independence. We can't retire now given our current spending level ($150k a year including our mortgage), but if we never earn or save another dollar we could downsize and live comfortably indefinitely. Similarly, if we quit saving and spent ever dollar we make from here on, we should be set for retirement . This slow realization has caused us to loosen up the spending reigns this past year. Basically anything we earn and save now is gravy.

My number one financial goal this year is to increase the amount that we give away. Our giving rate hasn't kept pace with our saving and spending increases over time.
"An investment in knowledge pays the best interest." - Benjamin Franklin

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Re: Post your Financial Milestone Announcements Here

Post by Hayden » Wed Jan 10, 2018 3:17 pm

I recently realized I had passed a significant milestone. The thing is, it wasn't MY milestone, in the sense that I had never contemplated hitting this number. Since I now find myself with more money than I need, I'm thinking more broadly about what to do with my money.

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Re: Post your Financial Milestone Announcements Here

Post by chicagoan23 » Wed Jan 10, 2018 3:25 pm

This will be a very fun thread.....congrats to all.

We hit $2 million in assets last week for the first time. Subtract out the mortgage and a very low-rate student loan that I have no intention of paying off early, and our net worth hit $1.75 million for the first time. Financially secure, although not financially independent yet (at ages 42/39).
Last edited by chicagoan23 on Wed Jan 10, 2018 3:38 pm, edited 1 time in total.

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Re: Post your Financial Milestone Announcements Here

Post by Toons » Wed Jan 10, 2018 3:35 pm

To quote Bob Brinker,
My spouse and I are in the ,
"Land Of Critical Mass",and have been so for quite a while.
Keeping debt to a bare minimum,investing frequently(reinvesting)got us there.
Count Our Blessings Every Day.
:happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

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Re: Post your Financial Milestone Announcements Here

Post by jriding » Wed Jan 10, 2018 3:45 pm

Me and DW (46 and 45) joined the two comma club in December, counting only our retirement investments. Home equity and 529s are in the high six figures, but I'm more interested in building retirement assets, so I don't count those. We celebrated by spending $40 on a nice sushi dinner and haven't told anyone (not even our parents!).

I feel like our push toward this milestone began when I discovered Bogleheads soon after the 2008-2009 market crash. I also started a "Help Me!" thread in 2015 (viewtopic.php?t=173086) that I still refer to periodically. I'm so grateful to the folks that contributed to that thread. Not to mention the 1,000s of forum members that contribute to this incredible knowledge base.

I haven't tracked net worth over the years. I only know what I had in 2015 from the thread I referenced above.
2015: $650k
2018: $1,000k

In an attempt to provide something actionable, here are my lessons learned since discovering Bogleheads:
-Don't waste tax advantaged space. If you can't max it, at least increase your contributions as you get pay increases.
-Know how much your investments cost. Calculate your net investment costs (in dollars, not %) and seek cheaper alternatives. We moved DWs 403(b) and 401(a) accounts from TIAA-CREF to Fidelity and have saved thousands in fees.
-Minimize expenses. Regularly review all of your recurring bills, especially insurance, cell phone, and cable, and look for cheaper alternatives. Direct savings to your tax advantaged space.
-Keep it simple. We're about 80% Target Date Retirement funds with low ERs and 20% three fund portfolio (in an account that only has TDR funds with high ERs). Since it's all in tax-advantaged space the low ER TDR funds make sense.

Future Challenges:
-We don't have much "fungible" money. 2% of our assets are in a savings account and an HSA (that we're using as a retirement account). Everything else is in tax advantaged accounts, 529s, and home equity. We're hoping to build our after-tax savings starting this year.
-I need to chill out about our spending. We're meeting our savings goals, but I still freak out when unexpected expenses arise. And I have a hard time splurging or watching DW splurge on something (like shoes). My new mantra is, "we can afford it".
-The next crash. I didn't handle 2008-2009 well (I hadn't yet discovered BHs). I think I'll be disciplined, but getting kicked out of the two comma club will sting a little. :D

Thank you Bogleheads!
Last edited by jriding on Wed Jan 10, 2018 4:03 pm, edited 2 times in total.

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Re: Post your Financial Milestone Announcements Here

Post by ray.james » Wed Jan 10, 2018 3:50 pm

White Coat Investor wrote:
Wed Jan 10, 2018 1:15 pm
My third one will be all about tax reduction, but I put it off when Congress started messing with the tax code last Fall. Hopefully I'll get it written this year. We'll see. Lots of pans in the fire right now.
Congratulations on hitting the number WCI. I hope your blog will transform many more doctors around the country as they pass the years of training and residency pauperism. (Being on that tax book this year! :P)

Meg, that's a big milestone, congratulations.
When in doubt, http://www.bogleheads.org/forum/viewtopic.php?f=1&t=79939

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Re: Post your Financial Milestone Announcements Here

Post by Sandtrap » Wed Jan 10, 2018 10:15 pm

Toons wrote:
Wed Jan 10, 2018 3:35 pm
To quote Bob Brinker,
My spouse and I are in the ,
"Land Of Critical Mass",and have been so for quite a while.
Keeping debt to a bare minimum,investing frequently(reinvesting)got us there.
Count Our Blessings Every Day.
:happy
If you will. . . what is the "Land of Critical Mass"?
Never heard that before. . .

mahalo,
j :D

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Sandtrap
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Re: Post your Financial Milestone Announcements Here

Post by Sandtrap » Wed Jan 10, 2018 10:16 pm

Meg77 wrote:
Wed Jan 10, 2018 3:15 pm
Well I wasn't going to post this, but since I was prompted by this new thread title, here goes!

My husband and I surpassed a net worth of $2,000,000 yesterday for the first time. :moneybag

With bonuses pending and a strong savings rate, we should stay above this level even if/when the market corrects. In reality we've probably been here for a while due to RE values, but I list those at cost on my balance sheet so it's staring at me in print for the first time. We hit $1MM 3 years and 9 months ago (the month we got married), and we expect to hit $3MM in 3 more years (if there are no major market downturns or income gaps).

To be honest I haven't even told my husband yet, and I'm sure we won't do anything special to celebrate. I feel a bit selfish/guilty even being excited about this milestone. However it is a major one for me since I feel that it marks a true sense of financial independence. We can't retire now given our current spending level ($150k a year including our mortgage), but if we never earn or save another dollar we could downsize and live comfortably indefinitely. Similarly, if we quit saving and spent ever dollar we make from here on, we should be set for retirement . This slow realization has caused us to loosen up the spending reigns this past year. Basically anything we earn and save now is gravy.

My number one financial goal this year is to increase the amount that we give away. Our giving rate hasn't kept pace with our saving and spending increases over time.
Heartfelt congratulations!
2-3 mil is nothing to sneeze at.. . 1 dollar at a time. . . :shock:
mahalo,
j :D

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Sandtrap
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Re: Post your Financial Milestone Announcements Here

Post by Sandtrap » Wed Jan 10, 2018 10:18 pm

White Coat Investor wrote:
Wed Jan 10, 2018 1:15 pm
Sandtrap wrote:
Wed Jan 10, 2018 10:56 am
Are you going to write another book?
Already did. It just needs to be packaged up and published. I sent it out to my email list a chaper at a time. You can still get it if you want- Financial Bootcamp.

My third one will be all about tax reduction, but I put it off when Congress started messing with the tax code last Fall. Hopefully I'll get it written this year. We'll see. Lots of pans in the fire right now.
When will "Financial Bootcamp" be out for pre-order?.
My Doc Nephew really liked your other book. I want to get him one as well as one for me.
Lot's of docs in my family.
mahalo,
j

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Re: Post your Financial Milestone Announcements Here

Post by KlangFool » Wed Jan 10, 2018 10:20 pm

Folks,

2017 will be the first year that my portfolio growth matched my gross income. All I need is 2 more years like this.

KlangFool

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Re: Post your Financial Milestone Announcements Here

Post by Dottie57 » Wed Jan 10, 2018 10:30 pm

KlangFool wrote:
Wed Jan 10, 2018 10:20 pm
Folks,

2017 will be the first year that my portfolio growth matched my gross income. All I need is 2 more years like this.

KlangFool

Congratulations! Your post just prompted me to look and I met the same number. :)

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Re: Post your Financial Milestone Announcements Here

Post by Shikoku » Wed Jan 10, 2018 11:36 pm

By the end of 2017, we hit a milestone. In one year, our tax-sheltered part of the portfolio has grown by $180K of which $76K are contributions and rest are market gains. This is the largest growth this single-income family have seen in our retirement saving in any one year period.
"I don't worry too much about pointing fingers at the past. I operate on the theory that every saint has a past, every sinner has a future." -- Warren Buffett

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Re: Post your Financial Milestone Announcements Here

Post by GerryL » Thu Jan 11, 2018 12:49 am

Snowjob wrote:
Wed Jan 10, 2018 2:41 pm
cinghiale wrote:
Wed Jan 10, 2018 3:32 am
A milestone of sorts...

Now two full years into retirement, and have had the good fortune of strong market tailwinds since then. Stepping out of the accumulation phase, with the comfort and security of a monthly paycheck, and into the distribution phase, with the shuddering realization that the seed corn is being eaten, is an emotional and cognitive challenge. No matter how the numbers look on paper, there’s still a “stepping off the high diving board” feel to stopping work and beginning retirement.
Congrats -- That shift to withdrawals will be painful for me no doubt down the road. All in the head for sure, but it certainly makes the idea of a pension sound even more appealing than it already is -- to bad they don't exist anymore! Did you purchase an annuity to help with this transition, it may not make as much financial sense but sometimes I wonder if behavior wise its worth it...
It has just occurred to me that part of the discomfort of "the seed corn is being eaten" is that it is an acknowledgement that no, you are not going to live forever. (I, too, have joined the ranks of decumulators.)

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Re: Post your Financial Milestone Announcements Here

Post by White Coat Investor » Thu Jan 11, 2018 1:38 am

Meg77 wrote:
Wed Jan 10, 2018 3:15 pm
To be honest I haven't even told my husband yet, and I'm sure we won't do anything special to celebrate. I feel a bit selfish/guilty even being excited about this milestone.
# 1 Go celebrate. We don't celebrate enough. You can certainly afford it.
# 2 Don't feel guilty about having the opportunity, only about what you do with the opportunity. For unto whomsoever much is given, of him shall be much required. It's a weighty responsibility to be wealthy. But there is no reason to feel guilty about working hard, earning money, saving money, investing well etc. So long as you didn't cheat someone to get your wealth, it isn't "filthy." But you're still responsible for what you do with it. Spend a little, save a little, give a little.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

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Re: Post your Financial Milestone Announcements Here

Post by cfs » Thu Jan 11, 2018 2:00 am

Thanks for the omnibus thread, and congratulations to our shipmate White Coat Investor for hitting his number, and thanks for giving much more, good on you. I look forward to many "I hit the number" sitreps here. Good luck to all forum members, and thanks for reading ~cfs~
~ Member of the Active Retired Force since 2014 ~

TwstdSista
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Re: Post your Financial Milestone Announcements Here

Post by TwstdSista » Thu Jan 11, 2018 4:53 am

This is a great thread!

We hit a new round number for our net worth this past year. It was kind of a non-event -- which is the actual milestone. Meh, okay?

We have overall goals since I'm very goal-oriented. But for now, my goal is just funding our retirement accounts. One Roth at a time!

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Re: Post your Financial Milestone Announcements Here

Post by SGM » Thu Jan 11, 2018 5:17 am

We also hit a new round number and the portfolio increased by a round number by the last week of 2017. It will be fun to see if this continues in 2018. It will if the S&P increases by my optimistic guestimate in 2018. :D This bragging thread reminds me of my high school days.

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Re: Post your Financial Milestone Announcements Here

Post by dekecarver » Thu Jan 11, 2018 6:44 am

This post prompted me to take a look last night as I'm kinda a set it and forget it type of investor. 1) I had a smile on my face last night, 2) I realized I needed to do some re-balancing, 3) Portfolio growth exceeded what we contribute on a yearly basis and exceeded what are combined salaries are (blue collar salaries), and 4) There is a sense of pride (not snobbery) achieving 2 commas based on simple saving, simple investing, and simply being quiet about it.

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Re: Post your Financial Milestone Announcements Here

Post by Toons » Thu Jan 11, 2018 8:43 am

Sandtrap wrote:
Wed Jan 10, 2018 10:15 pm
Toons wrote:
Wed Jan 10, 2018 3:35 pm
To quote Bob Brinker,
My spouse and I are in the ,
"Land Of Critical Mass",and have been so for quite a while.
Keeping debt to a bare minimum,investing frequently(reinvesting)got us there.
Count Our Blessings Every Day.
:happy
If you will. . . what is the "Land of Critical Mass"?
Never heard that before. . .

mahalo,
j :D
:happy :happy
"A state of freedom from worry and anxiety about money due to the accumulation of assets which make it possible to live your life as you choose without working if you prefer not to work or just working because you enjoy your but don't need the income. Plainly stated, the Land of Critical Mass is a place in which individuals enjoy their own personal financial nirvana. Differentiation between earned income and assets is a fundamental lesson to learn when thinking in terms of critical mass. Earned income does not produce critical mass......critical mass is strictly a function of assets."
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

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Re: Post your Financial Milestone Announcements Here

Post by sschullo » Thu Jan 11, 2018 9:35 am

Hi Alex,
Not sure if this counts as a milestone here, but it sure does with me. 2017 is the first time that I grossed over $200,000 combined income (since the tech bubble over $400,000 in 1999 which is worthless cause I lost it all) counting portfolio returns, pension, SS, and VA compensation incomes.

But this time around, I am not going to lose all of the gains because my portfolio is properly diversified with a stock-bond split appropriate for my age. It's a very boring portfolio, not at all like the crazy and stupid 90% tech stock portfolio I had in 1999.
Steve
Public School K-12 Educators: "Ask NOT what your annuity sales person can do for you, ask what you can do to be a Do-It-Yourselfer (DIY)."

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Re: Post your Financial Milestone Announcements Here

Post by Snowjob » Thu Jan 11, 2018 10:44 am

GerryL wrote:
Thu Jan 11, 2018 12:49 am
Snowjob wrote:
Wed Jan 10, 2018 2:41 pm
cinghiale wrote:
Wed Jan 10, 2018 3:32 am
A milestone of sorts...

Now two full years into retirement, and have had the good fortune of strong market tailwinds since then. Stepping out of the accumulation phase, with the comfort and security of a monthly paycheck, and into the distribution phase, with the shuddering realization that the seed corn is being eaten, is an emotional and cognitive challenge. No matter how the numbers look on paper, there’s still a “stepping off the high diving board” feel to stopping work and beginning retirement.
Congrats -- That shift to withdrawals will be painful for me no doubt down the road. All in the head for sure, but it certainly makes the idea of a pension sound even more appealing than it already is -- to bad they don't exist anymore! Did you purchase an annuity to help with this transition, it may not make as much financial sense but sometimes I wonder if behavior wise its worth it...
It has just occurred to me that part of the discomfort of "the seed corn is being eaten" is that it is an acknowledgement that no, you are not going to live forever. (I, too, have joined the ranks of decumulators.)
Perhaps another reason to add more annuity / annuity like sources of income, it keeps one from thinking this way!

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Meg77
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Re: Post your Financial Milestone Announcements Here

Post by Meg77 » Thu Jan 11, 2018 11:49 am

White Coat Investor wrote:
Thu Jan 11, 2018 1:38 am
Meg77 wrote:
Wed Jan 10, 2018 3:15 pm
To be honest I haven't even told my husband yet, and I'm sure we won't do anything special to celebrate. I feel a bit selfish/guilty even being excited about this milestone.
# 1 Go celebrate. We don't celebrate enough. You can certainly afford it.
# 2 Don't feel guilty about having the opportunity, only about what you do with the opportunity. For unto whomsoever much is given, of him shall be much required. It's a weighty responsibility to be wealthy. But there is no reason to feel guilty about working hard, earning money, saving money, investing well etc. So long as you didn't cheat someone to get your wealth, it isn't "filthy." But you're still responsible for what you do with it. Spend a little, save a little, give a little.
Great advice. Thank you! :sharebeer
"An investment in knowledge pays the best interest." - Benjamin Franklin

corgimom11
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Re: Post your Financial Milestone Announcements Here

Post by corgimom11 » Thu Jan 11, 2018 9:35 pm

Not as exciting as some of the prior announcements, but I have a couple that I am hitting today that I am pretty proud of.

We have officially reached net worth of $500K+ including home equity. We should land around $525K after 401K contribution hits after the large bonus I received. I am 29 years old (my husband is 32) and hitting $500K was a stretch goal for me before turning 30. We have hit this goal 9 months early!

I received my largest single bonus at work I have ever received, equivalent to 68% of my yearly salary.

At the end of 2017, I hit an income milestone - where I earned $254K last year. My husband had a good year as well, so we had total household income of $313K. This achievement has made us even more motivated to save as much as possible.

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Tycoon
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Re: Post your Financial Milestone Announcements Here

Post by Tycoon » Thu Jan 11, 2018 9:44 pm

First child finished college. Total cost = 0.00
Appeal to Pity:When pity is envoked to support a statement | Appeal to Popular Sentiment:Appealing to unrelated prejudices and attitudes | Hasty Generalization:Too little evidence to support the conclusion

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dwickenh
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Re: Post your Financial Milestone Announcements Here

Post by dwickenh » Thu Jan 11, 2018 9:53 pm

Tycoon wrote:
Thu Jan 11, 2018 9:44 pm
First child finished college. Total cost = 0.00
Wow, Now that's amazing. Congrats!!
The market is the most efficient mechanism anywhere in the world for transferring wealth from impatient people to patient people.” | — Warren Buffett

sambb
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Re: Post your Financial Milestone Announcements Here

Post by sambb » Fri Jan 12, 2018 3:40 am

reached a major milestone this year - and thanks to those who encouraged emerging markets a year ago - made a huge boost for us. If returns are low, we should still be ok for retirement by age 55. Thanks to this board for the help.

khangaroo
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Re: Post your Financial Milestone Announcements Here

Post by khangaroo » Fri Jan 12, 2018 10:45 am

I just passed the $100k mark in my 401k this morning! I started with my company in July 2012 and this was the first year I was able to max the contribution limit. I didn't contribute anything in 2015 while I was on my debt-free journey but once I got down I was able to set my contribution at 25% income (company max) for 2016 & 2017.

It's really awesome to see the growth and how my 401k is maturing into a beautiful financial asset. I always had a hard time believing those examples about the person who starts investing early and has a huge value at the end from growth but I am witnessing it first hand now. It's an incredible and extremely encouraging thing. Preaching to the choir here, but invest early if you can and encourage your kids to too!

lostdog
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Re: Post your Financial Milestone Announcements Here

Post by lostdog » Fri Jan 12, 2018 7:01 pm

All,

We just arrived at $500k in liquid assets in our retirement accounts and taxable accounts. This does not include our home at roughly ~$200k.

This is our second milestone. I never thought I would arrive here. Thanks to all of the Bogleheads that provided advice and support over the years. On to the next milestone.

I am 42 and my wife is 39.

GoldenFinch
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Re: Post your Financial Milestone Announcements Here

Post by GoldenFinch » Fri Jan 12, 2018 7:30 pm

Tycoon wrote:
Thu Jan 11, 2018 9:44 pm
First child finished college. Total cost = 0.00
:sharebeer

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Will do good
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Re: Post your Financial Milestone Announcements Here

Post by Will do good » Fri Jan 12, 2018 7:53 pm

khangaroo wrote:
Fri Jan 12, 2018 10:45 am
I just passed the $100k mark in my 401k this morning! I started with my company in July 2012 and this was the first year I was able to max the contribution limit. I didn't contribute anything in 2015 while I was on my debt-free journey but once I got down I was able to set my contribution at 25% income (company max) for 2016 & 2017.

It's really awesome to see the growth and how my 401k is maturing into a beautiful financial asset. I always had a hard time believing those examples about the person who starts investing early and has a huge value at the end from growth but I am witnessing it first hand now. It's an incredible and extremely encouraging thing. Preaching to the choir here, but invest early if you can and encourage your kids to too!
Compounding is amazing, congrats. :sharebeer

flyingaway
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Re: Post your Financial Milestone Announcements Here

Post by flyingaway » Fri Jan 12, 2018 8:00 pm

White Coat Investor wrote:
Tue Jan 09, 2018 2:34 am
Ha ha, good timing as we just did our annual net worth update. We hit our "number" this year. Yay us. But our most significant milestone for 2017 and the one we're most proud of was giving away more than we spent. I hope that will continue for many years.

And since I'm putting up the second post in this thread, I just wanted to say congratulations in advance to all who reached a big milestone. Celebrate them. They really are noteworthy accomplishments. I'm proud of you.
Are you serious? I though you hit(ted) your number some years ago.

flyingaway
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Re: Post your Financial Milestone Announcements Here

Post by flyingaway » Fri Jan 12, 2018 8:08 pm

KlangFool wrote:
Wed Jan 10, 2018 10:20 pm
Folks,

2017 will be the first year that my portfolio growth matched my gross income. All I need is 2 more years like this.

KlangFool
I sincerely congratulate you for your success, and thank you for your contributions to this forum.

mmcmonster
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Re: Post your Financial Milestone Announcements Here

Post by mmcmonster » Fri Jan 12, 2018 8:15 pm

Congrats, everyone!

My most recent milestone was $2M in October 2017. With minimal outstanding loans (just my car loan at present), I'm ecstatic about my financial future.

I'm taking a few months off of heavy savings in order to afford solar panels. After that continue my march towards $5M! (Got to keep moving the bar! :beer )

cherijoh
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Re: Post your Financial Milestone Announcements Here

Post by cherijoh » Fri Jan 12, 2018 8:59 pm

corgimom11 wrote:
Thu Jan 11, 2018 9:35 pm
Not as exciting as some of the prior announcements, but I have a couple that I am hitting today that I am pretty proud of.

We have officially reached net worth of $500K+ including home equity. We should land around $525K after 401K contribution hits after the large bonus I received. I am 29 years old (my husband is 32) and hitting $500K was a stretch goal for me before turning 30. We have hit this goal 9 months early!

I received my largest single bonus at work I have ever received, equivalent to 68% of my yearly salary.

At the end of 2017, I hit an income milestone - where I earned $254K last year. My husband had a good year as well, so we had total household income of $313K. This achievement has made us even more motivated to save as much as possible.
You have to keep in mind that this group covers all ages and all salary ranges. $500K before the age of 30 is fantastic! And I'm double your age :shock: and have never come anywhere close to earning a 68% bonus or $250K/yr in total compensation.

cherijoh
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Re: Post your Financial Milestone Announcements Here

Post by cherijoh » Fri Jan 12, 2018 9:08 pm

khangaroo wrote:
Fri Jan 12, 2018 10:45 am
I just passed the $100k mark in my 401k this morning! I started with my company in July 2012 and this was the first year I was able to max the contribution limit. I didn't contribute anything in 2015 while I was on my debt-free journey but once I got down I was able to set my contribution at 25% income (company max) for 2016 & 2017.

It's really awesome to see the growth and how my 401k is maturing into a beautiful financial asset. I always had a hard time believing those examples about the person who starts investing early and has a huge value at the end from growth but I am witnessing it first hand now. It's an incredible and extremely encouraging thing. Preaching to the choir here, but invest early if you can and encourage your kids to too!
It is great to have % of income investing goals - since that is what is within your control. Mr. Market can be fickle, so when the inevitable correction comes these goals are helpful to keep you on track. Getting debt free and maxing out your 401k in such a short period of time are definitely goals to be proud of!

staythecourse
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Re: Post your Financial Milestone Announcements Here

Post by staythecourse » Fri Jan 12, 2018 9:21 pm

Kudos to all who have and continue to reach their financial milestones. It is interesting as we (wife and I) hit each one in our lives I am disappointed I am not more excited. I remember the first one getting revved up for a couple weeks before in anticipation and thinking about it for weeks later. Now, I barely think about it.

I sort of wish I was still impressed when I hit the milestones, but just feels a bit unfilled. Think, I have realized financial milestones don't really impact my life happiness.

Must be an outlier and great to see it means so much to others.

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle

ZeroWealth
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Re: Post your Financial Milestone Announcements Here

Post by ZeroWealth » Fri Jan 12, 2018 9:29 pm

So many wonderful milestones to celebrate here, congrats to everyone! :sharebeer

2017 was the first year we were able to max both Roth IRAs and my 401k, and this year we're hoping to max those again plus our newly available HSA. We're both in our 30s and have some catching up to do (I didn't start retirement investing until 30), but we're confident our newly aggressive savings goals will allow us to retire at 60 (my personal retirement goal).

Onward and upward!
"I seldom end up where I wanted to go, but almost always end up where I need to be." - Douglas Adams

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David Jay
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Re: Post your Financial Milestone Announcements Here

Post by David Jay » Fri Jan 12, 2018 9:39 pm

My end-of-the-year Net Worth accounting shows that we joined the two comma club for the first time. That is total net worth, our retirement accounts are about $750,000, remainder is home equity.

Age 61, never had a year with family income above 5 digits, so you can be financially independent on a moderate income. Expect to retire early (62) within about 15 months.
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

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