Post your Financial Milestone Announcements Here

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Darth Xanadu
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Re: Post your Financial Milestone Announcements Here

Post by Darth Xanadu »

Tycoon wrote: Mon May 06, 2019 3:11 pm Second child finished college today. No more college payments. :beer
Congrats, that must be a seismic shift to the ol' budget!
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Darth Xanadu
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Re: Post your Financial Milestone Announcements Here

Post by Darth Xanadu »

Today I hit the maximum for my 401k contributions; this is the earliest point in the year I've ever done so. The extra cash in my paychecks over the next 7 months will be nice!
student
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Re: Post your Financial Milestone Announcements Here

Post by student »

Rain wrote: Wed May 01, 2019 6:51 am Happy to share two milestones. In April, we crossed the 1 million net worth mark (including primary residence) and we also finished maxing out 3 retirement accounts opened in 2018: two Roth IRAs (both with catch-ups) and a HSA (with family plan limits and one catch-up). We only started last year to save at a rate that would max out our 403b's, so filling up three more tax-advantaged buckets on top of that was a big deal for us. Many thanks to advice from Bogleheads!
Congratulations.
student
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Re: Post your Financial Milestone Announcements Here

Post by student »

KlangFool wrote: Wed May 01, 2019 7:52 am Hooray! My investment portfolio reaches 1.3 million today.

KlangFool
Congratulations.
student
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Re: Post your Financial Milestone Announcements Here

Post by student »

Darth Xanadu wrote: Fri May 31, 2019 10:38 am Today I hit the maximum for my 401k contributions; this is the earliest point in the year I've ever done so. The extra cash in my paychecks over the next 7 months will be nice!
Congratulations.
KlangFool
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Re: Post your Financial Milestone Announcements Here

Post by KlangFool »

student wrote: Fri May 31, 2019 10:49 am
KlangFool wrote: Wed May 01, 2019 7:52 am Hooray! My investment portfolio reaches 1.3 million today.

KlangFool
Congratulations.
Thanks.

KlangFool
life in slices
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Re: Post your Financial Milestone Announcements Here

Post by life in slices »

It is a small thing perhaps, but means the world to me

The last time my wife was able to contribute to a tax deferred retirement plan was 22 years ago - today she made the first deposit (solo 401k) since then. She gave up a lot to stay home with the kids and now that they are mostly out of the house, she is building a decent business out of tennis coaching.

The $20K she will make this year is very humbling to me as she took a skill of hers and was able to monetize it. Small potatoes in the scope of things but top of the list in the things that make me proud
student
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Re: Post your Financial Milestone Announcements Here

Post by student »

life in slices wrote: Fri May 31, 2019 11:58 am It is a small thing perhaps, but means the world to me

The last time my wife was able to contribute to a tax deferred retirement plan was 22 years ago - today she made the first deposit (solo 401k) since then. She gave up a lot to stay home with the kids and now that they are mostly out of the house, she is building a decent business out of tennis coaching.

The $20K she will make this year is very humbling to me as she took a skill of hers and was able to monetize it. Small potatoes in the scope of things but top of the list in the things that make me proud
Thanks for sharing.
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TomatoTomahto
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Re: Post your Financial Milestone Announcements Here

Post by TomatoTomahto »

student wrote: Fri May 31, 2019 12:00 pm
life in slices wrote: Fri May 31, 2019 11:58 am It is a small thing perhaps, but means the world to me
The last time my wife was able to contribute to a tax deferred retirement plan was 22 years ago - today she made the first deposit (solo 401k) since then. She gave up a lot to stay home with the kids and now that they are mostly out of the house, she is building a decent business out of tennis coaching.
The $20K she will make this year is very humbling to me as she took a skill of hers and was able to monetize it. Small potatoes in the scope of things but top of the list in the things that make me proud
Thanks for sharing.
It’s not a small thing; the fact that it means that much to you is a testament to the fact that numbers don’t tell the whole story. She is lucky to have you and v.v.

I was a SAHD, and my wife’s appreciation means the world to me. :beer
I get the FI part but not the RE part of FIRE.
noco-hawkeye
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Re: Post your Financial Milestone Announcements Here

Post by noco-hawkeye »

In cash + investments, hit the 2M mark. (We could have counted the house / cars to get to the 2M mark earlier, but my mental accounting thought that was cheating.)

We've still got a couple of kids to get launched, but otherwise things are looking good and I really appreciate all the great posts on this forum. Onward and upwards!

:sharebeer
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packet
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Re: Post your Financial Milestone Announcements Here

Post by packet »

noco-hawkeye wrote: Wed Jun 12, 2019 9:51 pm In cash + investments, hit the 2M mark. (We could have counted the house / cars to get to the 2M mark earlier, but my mental accounting thought that was cheating.)

We've still got a couple of kids to get launched, but otherwise things are looking good and I really appreciate all the great posts on this forum. Onward and upwards!

:sharebeer
Congrats!

:beer Cheers,
packet
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sapper1371
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Did I Make it or no?

Post by sapper1371 »

Is it typical to include the value of your house in your net worth or no? If it is, then I think we just joined the 2 comma club (well for today anyways :D )! If not then we have $250k to go :? .

My wife and I are only 39 so I know that being heavily invested in equities we could see a significant drop tomorrow but still feels like we are getting somewhere.

Savings rate is about 40% of gross pay and climbing so no plans to take out foot off the gas or anything but just maybe we share a nice bottle of wine tonight if we hit a milestone.

:sharebeer
cherijoh
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Re: Did I Make it or no?

Post by cherijoh »

It depends on how you define it. I've seen it both ways. I consider it only based on investments since I need somewhere to live and will not be selling my house anytime soon.
Conch55
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Re: Did I Make it or no?

Post by Conch55 »

Not sure about making it but you are making good progress based on your age. Keep up the good work!
life in slices
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Re: Did I Make it or no?

Post by life in slices »

I look at both total net worth with home value in it and 'liquid net worth' (investments and cash) only and track the growth of both

I don't think there is an issue in including the equity in your house in your net worth - it has tangible value (and your mortgage would be in the liability column anyways if you have one). You could discount the equity in your home by a certain percentage, to account for selling costs, etc. but that is probably splitting hairs.

IMO - congrats to the two comma club! :sharebeer

I am there myself with the house and about $200K short without the house
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bertilak
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Re: Did I Make it or no?

Post by bertilak »

sapper1371 wrote: Thu Jun 20, 2019 2:41 pm Is it typical to include the value of your house in your net worth or no? If it is, then I think we just joined the 2 comma club (well for today anyways :D )! If not then we have $250k to go :? .
It's not the value of the house that counts, but how much equity you have in it. If you have $250K house with a $200K mortgage your equity is $50K.
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greg24
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Re: Did I Make it or no?

Post by greg24 »

net worth = (assets - liabilities)

Your house is an asset. Your mortgage balance is a liability.
jerkstore
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Re: Did I Make it or no?

Post by jerkstore »

There are 2 categories: 2 comma NW and 2 comma Investable assets.

Celebrate both of them. Congrats on 2 comma NW.

All NW calculations include home equity, otherwise they are done incorrectly. I don't know why some wrestle with this concept so much, it is simply the sum of assets less sum of liabilities = NW.

The utility of a NW calculation is debatable...but not whether certain assets should be excluded/included. :sharebeer
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bertilak
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Re: Did I Make it or no?

Post by bertilak »

jerkstore wrote: Thu Jun 20, 2019 2:58 pm There are 2 categories: 2 comma NW and 2 comma Investable assets.

Celebrate both of them. Congrats on 2 comma NW.

All NW calculations include home equity, otherwise they are done incorrectly. I don't know why some wrestle with this concept so much, it is simply the sum of assets less sum of liabilities = NW.
The reason that the discussions get off-track is that the question is often asked in the context of setting an investment AA so then we get into the discussion of what to count as an asset for AA purposes.
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sapper1371
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Re: Did I Make it or no?

Post by sapper1371 »

cherijoh wrote: Thu Jun 20, 2019 2:44 pm I consider it only based on investments since I need somewhere to live and will not be selling my house anytime soon.
I agree it’s less liquid but by that same token will you be selling your investments anytime soon?
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Re: Did I Make it or no?

Post by sapper1371 »

bertilak wrote: Thu Jun 20, 2019 2:53 pm
sapper1371 wrote: Thu Jun 20, 2019 2:41 pm Is it typical to include the value of your house in your net worth or no? If it is, then I think we just joined the 2 comma club (well for today anyways :D )! If not then we have $250k to go :? .
It's not the value of the house that counts, but how much equity you have in it. If you have $250K house with a $200K mortgage your equity is $50K.
I have $250k equity.
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Re: Post your Financial Milestone Announcements Here

Post by jbranx »

{Merged this topic into here: viewtopic.php?p=4603648#p4603648}
FootballFan5548
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Re: Post your Financial Milestone Announcements Here

Post by FootballFan5548 »

With the new S&P All Time High's today has anyone exceeded a personal milestone they'd like to share? It's been a fun June so far after a bit of a crummy May.

Just today, for the first time ever we've entered the 2 comma club for investments alone, (not counting cash/EF/home equity). This has been a key milestone goal of mine for some time, so it feels fantastic.

I'm sure tomorrow will be a red day and I'll drop back down, but for today, I'm real pumped!

Anyone else have any good news to share?
livesoft
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Re: Post your Financial Milestone Announcements Here

Post by livesoft »

The portfolio hit another rebalancing trigger point. Does that count?
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Re: Did I Make it or no?

Post by Grt2bOutdoors »

sapper1371 wrote: Thu Jun 20, 2019 2:41 pm Is it typical to include the value of your house in your net worth or no? If it is, then I think we just joined the 2 comma club (well for today anyways :D )! If not then we have $250k to go :? .

My wife and I are only 39 so I know that being heavily invested in equities we could see a significant drop tomorrow but still feels like we are getting somewhere.

Savings rate is about 40% of gross pay and climbing so no plans to take out foot off the gas or anything but just maybe we share a nice bottle of wine tonight if we hit a milestone.

:sharebeer
I never needed a special occasion to share a bottle of wine with my wife. The best time to do it is now. Don't wait, get the corkscrew, the glasses and enjoy!

To answer your question: Networth is the value of your assets less your liabilities equals net worth. In your example, it's your house value less any mortgages/liens plus the value of your investments + cash less any debt. You can include your car if it's brand new less the depreciation, but most 10 year old cars aren't worth that much unless it's a collectors item with a known value.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
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beyou
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Re: Post your Financial Milestone Announcements Here

Post by beyou »

Nearing 55 and...

1) Got one of my children to open a Roth IRA.....the first step to next generation financial independence.
He did so at age of 20 while still an undergrad. Next milestone is another child to do same.

2) Made last term life payment.

3) Making last undergrad tuition payment next month.
Above two timed to coincide long ago when purchasing term insurance.

4) Got to next 7 figure rung on the net worth ladder. Could be my last rung if I go FIRE, TBD.
life in slices
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Re: Post your Financial Milestone Announcements Here

Post by life in slices »

beyou wrote: Thu Jun 20, 2019 3:43 pm Nearing 55 and...

1) Got one of my children to open a Roth IRA.....the first step to next generation financial independence.
He did so at age of 20 while still an undergrad. Next milestone is another child to do same.

2) Made last term life payment.

3) Making last undergrad tuition payment next month.
Above two timed to coincide long ago when purchasing term insurance.

4) Got to next 7 figure rung on the net worth ladder. Could be my last rung if I go FIRE, TBD.
Congrats -that is a great place to be!

I am all over my kids about retirement accounts while they are young - I am sure they are already eagerly anticipating the many decades of finance books they will get for Christmas gifts!

My oldest is 23 and mostly on board - the others are in HS or College so minimal earnings to this point. My goal is to get them way ahead of the game then I was.
FederalFIRE
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Re: Post your Financial Milestone Announcements Here

Post by FederalFIRE »

FootballFan5548 wrote: Thu Jun 20, 2019 3:31 pm With the new S&P All Time High's today has anyone exceeded a personal milestone they'd like to share? It's been a fun June so far after a bit of a crummy May.

Just today, for the first time ever we've entered the 2 comma club for investments alone, (not counting cash/EF/home equity). This has been a key milestone goal of mine for some time, so it feels fantastic.

I'm sure tomorrow will be a red day and I'll drop back down, but for today, I'm real pumped!

Anyone else have any good news to share?
Was a good day for us - our total invested assets topped $500K for the first time ever! Our net worth has also been over $600K for one full week now. Previously topped $600K back in April for 2 days but then promptly rode the slide down about $20K before recovering.
SCV_Lawyer
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Re: Post your Financial Milestone Announcements Here

Post by SCV_Lawyer »

Hit $4M in net worth. But $1.3M of that is house and vehicles, so next goal is $3M in investable assets. Should be there by end of the year, absent a major downturn.
Accrual
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Re: Post your Financial Milestone Announcements Here

Post by Accrual »

Darth Xanadu wrote: Fri May 31, 2019 10:38 am Today I hit the maximum for my 401k contributions; this is the earliest point in the year I've ever done so. The extra cash in my paychecks over the next 7 months will be nice!
Congrats! No employer match?
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ruralavalon
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Re: Did I Make it or no?

Post by ruralavalon »

A savings rate is of 40% of gross income is excellent, congratulations on that and on 2 commas in net worth :) .

sapper1371 wrote: Thu Jun 20, 2019 2:41 pm Is it typical to include the value of your house in your net worth or no? [emphasis added]. If it is, then I think we just joined the 2 comma club (well for today anyways :D )! If not then we have $250k to go :? .

My wife and I are only 39 so I know that being heavily invested in equities we could see a significant drop tomorrow but still feels like we are getting somewhere.

Savings rate is about 40% of gross pay and climbing so no plans to take out foot off the gas or anything but just maybe we share a nice bottle of wine tonight if we hit a milestone.

:sharebeer
Net worth includes all assets and liabilities. "Simply stated, net worth is the difference between assets and liabilities." Investopedia "Net Worth". So yes include the the value of your home in your net worth calculation.

Net worth is different than investible assets.

Do not include your home value in determining your investible assets or in your asset allocation for retirement/long-term investing.

Your home is illiquid, cannot be used in rebalancing, is a place to live and a lifestyle choice, and not just an asset.
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travelnut11
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Re: Post your Financial Milestone Announcements Here

Post by travelnut11 »

Just hit $1 million in investments yesterday with another $250k in home equity and cash. We're both 42 with young kids (aged 2 and 4). I'm sure we'll be back under the mark shortly but for today it feels good. :D
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Darth Xanadu
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Re: Post your Financial Milestone Announcements Here

Post by Darth Xanadu »

Accrual wrote: Thu Jun 20, 2019 4:55 pm
Darth Xanadu wrote: Fri May 31, 2019 10:38 am Today I hit the maximum for my 401k contributions; this is the earliest point in the year I've ever done so. The extra cash in my paychecks over the next 7 months will be nice!
Congrats! No employer match?
Yes, I get 5% of base+bonus as a match. My employer does a calculation at the end of the year and puts it into our account in January, so I get it no matter the timing of my own contributions.
ClaycordJCA
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Re: Post your Financial Milestone Announcements Here

Post by ClaycordJCA »

DS graduated from college and started an IT job on June 1. Still have about $40k left in the 529 accounts. DD was married this last weekend. Both are now off the payroll :mrgreen:
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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

travelnut11 wrote: Fri Jun 21, 2019 9:53 am Just hit $1 million in investments yesterday with another $250k in home equity and cash. We're both 42 with young kids (aged 2 and 4). I'm sure we'll be back under the mark shortly but for today it feels good. :D
Congratulations on joining the two comma club at age 42 :) .

ClaycordJCA wrote: Wed Jun 26, 2019 1:28 am DS graduated from college and started an IT job on June 1. Still have about $40k left in the 529 accounts. DD was married this last weekend. Both are now off the payroll :mrgreen:
I recall the feeling. It felt like an enormous pay raise to get the youngest through college :) . It was a definite milestone but felt like a bit of a loss when each daughter married :( .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started
runner23
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Re: Post your Financial Milestone Announcements Here

Post by runner23 »

This is a great sounding board to post financial milestones. I always enjoy reading through them.

I received a 30k raise recently that brings our HHI between DW and I to $350k. This will certainly help in reaching more financial milestones for years to come as we are both 29 years old and settled into our careers. It is a marathon and not a sprint! I encourage younger people to focus on increasing income instead of solely focusing on cutting expenses in younger years.

I joined bogleheads 4 years ago with $50k NW and just clipped $650k. The advice and support here are amazing.

Cheers.
toto238
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Celebrating a milestone today: my first day with $100,000 in retirement accounts

Post by toto238 »

[Topic merged into here -- moderator oldcomputerguy]

Pending the market not tanking in the next 2 hours (oh god did I just jinx myself?), for the first time ever at market close today I will have just over $100,000 saved up between my 401k and my Roth IRA.

A quick breakdown:

Roth IRA: $29k

401k (roth portion): $16k
401k (pre-tax portion): $55k

I'm not quite at $100k net worth though due to some debt, so I'll have another milestone post hopefully within a year once my net worth hits $100k. But i'm not ridiculously far off.

Other assets include:

Cash/emergency fund: $13.5k
Equity in home: $75k

Liabilities though:

Equity in autos: -$8k
Student loans (his): -$11k
Student loans (hers): -$63k
Solar loan: -$15.5k

Total net worth: $91k

I'm close. super close. 5 years ago when my wife and I graduated we had about $108k of student loans, and close to $0 in savings of any kind. So to go from a net worth of -$100kish to +$100kish in 5ish years I consider to be pretty alright.

In the meantime I've built up a credit score of over 800, my wife and I's combined pre-tax income is over $120k per year, and I'm starting to see the path forward to eliminating all our remaining debts. Her loans currently have the highest interest rates so we'll be tackling them first. By the time we're done with those the auto loans will naturally be paid off and we plan on driving our two vehicles for another 5+ years. The solar loan is not a huge worry as it's interest rate of 3% is low enough It's low priority. I'm 27 years old and she's 28 years old, and I think if we continue aggressively saving and making good decisions that enjoying an early retirement in our 50s is very achievable.
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willthrill81
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Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

Post by willthrill81 »

Congratulations!

What is the interest rate on your auto loan and student loans?
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
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Schlabba
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Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

Post by Schlabba »

toto238 wrote: Fri Jun 28, 2019 1:13 pm I think if we continue aggressively saving and making good decisions that enjoying an early retirement in our 50s is very achievable.
Absolutely! You are well on your way! A savings rate of 40k a year is pretty amazing, especially at your age.

Keep it up!
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Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

Post by toto238 »

willthrill81 wrote: Fri Jun 28, 2019 1:17 pm Congratulations!

What is the interest rate on your auto loan and student loans?
They vary. One auto loan is at 0%, the other is at 3%.

The student loans vary from as little as 3% to as much as 6.5%. Those high interest rate loans are our primary target with extra cash that becomes available. We are considering re-financing with SoFi some portion of those high interest rate loans as well, to see if we can't get a better rate over a shorter term for them.
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willthrill81
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Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

Post by willthrill81 »

toto238 wrote: Fri Jun 28, 2019 1:25 pm
willthrill81 wrote: Fri Jun 28, 2019 1:17 pm Congratulations!

What is the interest rate on your auto loan and student loans?
They vary. One auto loan is at 0%, the other is at 3%.

The student loans vary from as little as 3% to as much as 6.5%. Those high interest rate loans are our primary target with extra cash that becomes available. We are considering re-financing with SoFi some portion of those high interest rate loans as well, to see if we can't get a better rate over a shorter term for them.
That sounds like a great plan. Getting a 6.5% loan refinanced would likely be worthwhile since it will likely take you a few years to knock it out.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
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Abe
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Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

Post by Abe »

Congratulations. I remember my first $100k. It seems like a long time ago in a galaxy far, far away.
Slow and steady wins the race.
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Harry Livermore
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Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

Post by Harry Livermore »

Congratulations! Enjoy the feeling. I used to love the feeling that comes with a milestone. Such a happy rush.
I'm not sure how other folks here are affected by such things, but I have found that after a while, milestones that trigger that endorphin rush (if that's what it is) are fewer and farther between. Maybe it's age, or the numbers simply getting bigger. I miss that feeling! Hoping I get it again when I finally am FIRE.
Keep up what you are doing!
Cheers,
Harry
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Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

Post by DesertDiva »

Congrats! Keep it up! :beer
student
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Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

Post by student »

Congratulations.
worthit
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Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

Post by worthit »

Well done! Inspiring.
mass88
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Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

Post by mass88 »

That's great, good for you! Keep it going!
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Mullins
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Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

Post by Mullins »

I just wanted to jump on board to congratulate your milestone! Good for you!

Keep going! I'm assuming you're investing BH style, so, "Stay the Course."

There's also nothing wrong with investing into taxable accounts after you've maxed tax advantaged accounts.

When IRAs first became a thing I was close to your age and they said "sock away $2000 a year, you'll have a million when you retire!" Then the common wisdom from the "gurus" was to save 10% of your income.

In hindsight I now say they were all wrong.

I went through all that and what I finally realized was what you want to do for the long term is invest every dollar you can spare. You'll determine what that amount is. But there's no such thing as set amounts or set percentages, that just makes it sound like it's been figured out. Yet common sense dictates having more capital working more years should yield results better than investing less capital over that same period, in the same vehicles (though of course nothing is 100% certain, right? But you do your part and diligence during this journey).
toto238
Posts: 1892
Joined: Wed Feb 05, 2014 2:39 am

Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

Post by toto238 »

willthrill81 wrote: Fri Jun 28, 2019 1:27 pm
toto238 wrote: Fri Jun 28, 2019 1:25 pm
willthrill81 wrote: Fri Jun 28, 2019 1:17 pm Congratulations!

What is the interest rate on your auto loan and student loans?
They vary. One auto loan is at 0%, the other is at 3%.

The student loans vary from as little as 3% to as much as 6.5%. Those high interest rate loans are our primary target with extra cash that becomes available. We are considering re-financing with SoFi some portion of those high interest rate loans as well, to see if we can't get a better rate over a shorter term for them.
That sounds like a great plan. Getting a 6.5% loan refinanced would likely be worthwhile since it will likely take you a few years to knock it out.
Yes I did this with my high-interest rate student loans, so now my only remaining loans are between 3-4%. My wife has loans with larger balances though and higher interest rates, and my concern is that the higher monthly payments required to put them on a say 5-year schedule would be disruptive to our monthly cash flow. We would be changing our monthly payments towards loans from about $350 a month to probably closer to $1000 a month.
stocknoob4111
Posts: 1705
Joined: Sun Jan 07, 2018 12:52 pm

Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

Post by stocknoob4111 »

congrats! at your age my net worth was -$15000 :D so you're way ahead of me!!
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