Post your Financial Milestone Announcements Here

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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon » Thu Apr 30, 2020 7:31 am

1130Super wrote:
Wed Apr 29, 2020 9:16 pm
Hit 100k for first time today for tax advantaged accounts (401k, and Roth) 27 years old
Congratulations, that's excellent :) .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

mega317
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Re: Post your Financial Milestone Announcements Here

Post by mega317 » Thu Apr 30, 2020 11:55 am

Nice.
The next 100k will be so much faster.
https://www.bogleheads.org/forum/viewtopic.php?t=6212

LiterallyIronic
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Re: Post your Financial Milestone Announcements Here

Post by LiterallyIronic » Fri May 01, 2020 10:34 am

Net worth officially reached $250k today! We had peaked at $249k right before the stock market crash. Took a couple of months, but our retirement account balances are now exactly back where they were ($111k) and the house value (according to Zillow, so take it with a grain of salt, but it's the best I've got) has gone up a smidge.

If we ever get our stimulus check and tax refund, then we'll really be set.

Fortuitous
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Re: Post your Financial Milestone Announcements Here

Post by Fortuitous » Fri May 01, 2020 12:59 pm

LiterallyIronic wrote:
Fri May 01, 2020 10:34 am
Net worth officially reached $250k today! We had peaked at $249k right before the stock market crash. Took a couple of months, but our retirement account balances are now exactly back where they were ($111k) and the house value (according to Zillow, so take it with a grain of salt, but it's the best I've got) has gone up a smidge.

If we ever get our stimulus check and tax refund, then we'll really be set.

Congratulations on hitting 250. :sharebeer . We crossed it in 2019, and can relate to the feeling. Here is to upwards and onwards.

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Re: Post your Financial Milestone Announcements Here

Post by Dottie57 » Sat May 02, 2020 9:19 am

Grt2bOutdoors wrote:
Wed Apr 29, 2020 4:47 pm
abuss368 wrote:
Tue Apr 28, 2020 5:33 pm
I have never escrowed taxes or insurance. That involves discipline and may not be a good strategy for many home owners.
Some mortgage companies require that they hold the escrow payments in-house. The reason is simple, the bank wants to ensure that taxes are paid on a timely basis. If the taxes are not paid on a timely basis, they will know quickly and they will move to ensure that their first lien on the property is enforced, before the taxing authority sells the tax lien.
+1 I had no choice. But I paid 2% down in a special first time owners program in 1987. I can understand why the bank wanted escrow.

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Darth Xanadu
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Re: Post your Financial Milestone Announcements Here

Post by Darth Xanadu » Thu May 07, 2020 8:41 pm

LiterallyIronic wrote:
Fri May 01, 2020 10:34 am
Net worth officially reached $250k today! We had peaked at $249k right before the stock market crash. Took a couple of months, but our retirement account balances are now exactly back where they were ($111k) and the house value (according to Zillow, so take it with a grain of salt, but it's the best I've got) has gone up a smidge.

If we ever get our stimulus check and tax refund, then we'll really be set.
That's great! A rapid recovery like that tells me you have discipline and a solid savings rate. I'm still about 6% below my high water mark.

stoptothink
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Re: Post your Financial Milestone Announcements Here

Post by stoptothink » Thu May 07, 2020 8:58 pm

As of yesterday we officially have enough in our EF/savings account to pay off our mortgage. Going to wait until July to get rid of it because we have to keep a significant portion in there (Ally) until 6/31 for a promotion. Exactly 4.5yrs on the nose since we purchased and we have maxed out a pair of 401ks/Roth IRAs/family HSA/pair of 529s to state deduction each year. Now the real work begins: convincing the wife that we do not need to upgrade.

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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon » Fri May 08, 2020 8:45 am

stoptothink wrote:
Thu May 07, 2020 8:58 pm
As of yesterday we officially have enough in our EF/savings account to pay off our mortgage. Going to wait until July to get rid of it because we have to keep a significant portion in there (Ally) until 6/31 for a promotion. Exactly 4.5yrs on the nose since we purchased and we have maxed out a pair of 401ks/Roth IRAs/family HSA/pair of 529s to state deduction each year. Now the real work begins: convincing the wife that we do not need to upgrade.
That is an outstanding accomplishment :D .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

stoptothink
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Re: Post your Financial Milestone Announcements Here

Post by stoptothink » Mon May 11, 2020 4:57 pm

ruralavalon wrote:
Fri May 08, 2020 8:45 am
stoptothink wrote:
Thu May 07, 2020 8:58 pm
As of yesterday we officially have enough in our EF/savings account to pay off our mortgage. Going to wait until July to get rid of it because we have to keep a significant portion in there (Ally) until 6/31 for a promotion. Exactly 4.5yrs on the nose since we purchased and we have maxed out a pair of 401ks/Roth IRAs/family HSA/pair of 529s to state deduction each year. Now the real work begins: convincing the wife that we do not need to upgrade.
That is an outstanding accomplishment :D .
With Ally sending the email that savings accounts were going down to 1.25%, I just scheduled to pull out and pay off our mortgage on Wednesday. My wife knew we were close, just not that close. She almost fainted when I told her.

hbdad
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Tomorrow student debt free!

Post by hbdad » Tue May 12, 2020 9:39 pm

[Merged into the ongoing discussion -- moderator oldcomputerguy]

It's been 13 years in the making, but tomorrow (5/13) I'm going to pull the trigger and make a lump sum payment to finish off my law school loans. I have 12.3k left. I had been on the fence about this for months, but after maxing out my and my spouse's Roth IRAs and Ally lowering their rates to 1.25 I've decided tomorrow is the day. My loans have a 1.35 interest rate. While I'm excited to achieve this milestone, I'm beginning to think that when I wake up on Thursday, it will feel like every other day.

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Re: Tomorrow student debt free!

Post by caffeperfavore » Tue May 12, 2020 9:55 pm

Congratulations! When I paid off my loans from too many years of undergrad and grad school, it was a great feeling. I pinned my paid in full letter on the wall for a week or so afterwards. Years later, it still makes me happy to have that behind me.

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Re: Tomorrow student debt free!

Post by retired@50 » Tue May 12, 2020 11:43 pm

hbdad wrote:
Tue May 12, 2020 9:39 pm
While I'm excited to achieve this milestone, I'm beginning to think that when I wake up on Thursday, it will feel like every other day.
I think the joy will hit you next month, when you won't have to send a payment.

Regards,
This is one person's opinion. Nothing more.

barberakb
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Re: Tomorrow student debt free!

Post by barberakb » Wed May 13, 2020 12:12 am

CONGRATZ!

mortfree
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Re: Tomorrow student debt free!

Post by mortfree » Wed May 13, 2020 12:49 am

If you feel nothing on Thursday then you are handling your finances appropriately.

Congrats and enjoy the moment- for however long that may be.

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Re: Post your Financial Milestone Announcements Here

Post by whodidntante » Wed May 13, 2020 9:05 pm

I cut my expenses drastically. Travel, dining out, even gas expenses have dropped to basically zero. All it took was a little discipline and a global pandemic!

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ruralavalon
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Re: Tomorrow student debt free!

Post by ruralavalon » Thu May 14, 2020 10:04 am

hbdad wrote:
Tue May 12, 2020 9:39 pm
[Merged into the ongoing discussion -- moderator oldcomputerguy]

It's been 13 years in the making, but tomorrow (5/13) I'm going to pull the trigger and make a lump sum payment to finish off my law school loans. I have 12.3k left. I had been on the fence about this for months, but after maxing out my and my spouse's Roth IRAs and Ally lowering their rates to 1.25 I've decided tomorrow is the day. My loans have a 1.35 interest rate. While I'm excited to achieve this milestone, I'm beginning to think that when I wake up on Thursday, it will feel like every other day.
Congratulations :D .

I would bet that you will feel better with that monkey off your back.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon » Thu May 14, 2020 10:05 am

whodidntante wrote:
Wed May 13, 2020 9:05 pm
I cut my expenses drastically. Travel, dining out, even gas expenses have dropped to basically zero. All it took was a little discipline and a global pandemic!
Same here :) . I have hardly left the house since March 11, that does wonders for reducing spending.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

HEDGEFUNDIE
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Re: Post your Financial Milestone Announcements Here

Post by HEDGEFUNDIE » Sat May 23, 2020 9:43 am

My total compensation just hit $400k as of the close of trading on Friday.

I will say that I take some satisfaction in this. My entire professional life I’ve been reaching for the most prestigious tier of companies and always coming up short. Whether it’s MBB during business school or Google and Facebook afterwards, I’ve made it to half a dozen final round interviews and never been able to cross the finish line. BCG was an exceptionally hard loss, with the recruiting partner taking a personal interest in my application, taking me out to dinner, and yet I just couldn’t perform well on the day of the final interview.

Now I make more money than if I had gotten into any of those jobs.

Another point of validation is that I picked my current company two years ago specifically for its equity growth potential, having studied industry and customer trends using all the finance & strategy skills I picked up in my MBA and prior roles. In a sense, you can say that I was stock picking writ large. A pick that paid off in spades!

A friend at Facebook recently saw my stock price and sent me a message of congratulations, and asked me how it felt to be rich. I must say, it feels damn good!

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Re: Tomorrow student debt free!

Post by student » Sat May 23, 2020 10:02 am

hbdad wrote:
Tue May 12, 2020 9:39 pm
[Merged into the ongoing discussion -- moderator oldcomputerguy]

It's been 13 years in the making, but tomorrow (5/13) I'm going to pull the trigger and make a lump sum payment to finish off my law school loans. I have 12.3k left. I had been on the fence about this for months, but after maxing out my and my spouse's Roth IRAs and Ally lowering their rates to 1.25 I've decided tomorrow is the day. My loans have a 1.35 interest rate. While I'm excited to achieve this milestone, I'm beginning to think that when I wake up on Thursday, it will feel like every other day.
Congratulations.

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grobertj
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Just Paid Off My Mortgage

Post by grobertj » Sat May 23, 2020 10:32 am

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

I'm really concerned about the stock market, so I decided to pay off my mortgage. It was a close call on an NPV analysis, but its nice to not have any debt. We own 2 cars. Have anyone done the same?
The only constant is change.

leftcoaster
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Re: Just Paid Off My Mortgage

Post by leftcoaster » Sat May 23, 2020 11:02 am

grobertj wrote:
Sat May 23, 2020 10:32 am
I'm really concerned about the stock market, so I decided to pay off my mortgage. It was a close call on an NPV analysis, but its nice to not have any debt. We own 2 cars. Have anyone done the same?
Congratulations!!!!

Paid it off a few years ago. Was not the economically rational decision as I had a <3% rate but it simplified my monthly expenses and I am happy about that.

HEDGEFUNDIE
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Re: Just Paid Off My Mortgage

Post by HEDGEFUNDIE » Sat May 23, 2020 11:05 am

Nope.

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Re: Just Paid Off My Mortgage

Post by stoptothink » Sat May 23, 2020 11:20 am

We did it on the 13th. As HYS dropped rates again, decided just to pull the cash we had and be done with it. Having not yet seen that immediate pull on the 1st of the month, it hasn't really set it in yet.

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Re: Just Paid Off My Mortgage

Post by EnjoyIt » Sat May 23, 2020 11:46 am

Congrats on this endeavor.

I think if rates keep falling for bonds and savings accounts I will be doing something similar. Our mortgage is sub 3% as well.
A time to EVALUATE your jitters. | https://www.bogleheads.org/forum/viewtopic.php?f=10&t=79939&start=400#p5275418

smitcat
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Re: Just Paid Off My Mortgage

Post by smitcat » Sat May 23, 2020 11:47 am

Never made any sense for us to pay off mortgages until we retired.

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Re: Just Paid Off My Mortgage

Post by BernardShakey » Sat May 23, 2020 12:07 pm

Congratulations! At 57 and still carrying one (albeit a fairly modest one) I can imagine how that feels to eliminate that monthly expense. With paltry investment returns likely in the near future, it probably makes more sense now than in recent years to pay that sucker off! :sharebeer
A key to investing is having a well-calibrated sense of your future regret.

EnjoyIt
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Re: Just Paid Off My Mortgage

Post by EnjoyIt » Sat May 23, 2020 12:19 pm

smitcat wrote:
Sat May 23, 2020 11:47 am
Never made any sense for us to pay off mortgages until we retired.
I generally agree with you. But, at some point wealth to debt to bond ratios make selling low earning bonds and paying off debt a good idea. Even if it adjusts your AA temporarily.
Example with round numbers:
$1.5 million portfolio in 60:40 (900k stocks : $600k bonds) with bonds earning 1.8%
$150k mortgage remaining at 3%

Sell $150k bonds and pay off mortgage. Portfolio is now $900k stocks and $450k bonds or 67:33.
The change in AA is pretty small but you get the benefit of higher returns on paying off debt vs holding the bonds.
You can then slowly add to the bond portion to get back to a 60:40 portfolio.
A time to EVALUATE your jitters. | https://www.bogleheads.org/forum/viewtopic.php?f=10&t=79939&start=400#p5275418

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Re: Just Paid Off My Mortgage

Post by abuss368 » Sat May 23, 2020 12:24 pm

grobertj wrote:
Sat May 23, 2020 10:32 am
I'm really concerned about the stock market, so I decided to pay off my mortgage. It was a close call on an NPV analysis, but its nice to not have any debt. We own 2 cars. Have anyone done the same?
Congrats and job well done!
John C. Bogle: Two Fund Portfolio - Total Stock & Total Bond - “Simplicity is the master key to financial success."

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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Sat May 23, 2020 12:26 pm

I merged grobertj's thread into the on-going discussion.

Congrats! :beer
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Re: Just Paid Off My Mortgage

Post by ruralavalon » Sat May 23, 2020 12:39 pm

grobertj wrote:
Sat May 23, 2020 10:32 am
[Thread merged into here, see below. --admin LadyGeek]

I'm really concerned about the stock market, so I decided to pay off my mortgage. It was a close call on an NPV analysis, but its nice to not have any debt. We own 2 cars. Have anyone done the same?
Congratulations :) .

We paid off the mortgage years ago. It felt great.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

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Re: Just Paid Off My Mortgage

Post by Grt2bOutdoors » Sat May 23, 2020 6:50 pm

grobertj wrote:
Sat May 23, 2020 10:32 am
[Thread merged into here, see below. --admin LadyGeek]

I'm really concerned about the stock market, so I decided to pay off my mortgage. It was a close call on an NPV analysis, but its nice to not have any debt. We own 2 cars. Have anyone done the same?
Congratulations! If you ever feel the need again to want a mortgage, you could always re-apply for one but I suspect you will be amongst many who will not! Enjoy having one less payment per month going to someone other than you. Take that old mortgage payment and invest it according to your asset allocation, then look at the balance of your accounts on the day the original mortgage (now extinguished) was to reach final maturity. You are going to be pleasantly surprised! :sharebeer
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Re: Post your Financial Milestone Announcements Here

Post by Cranberry44 » Sun May 24, 2020 9:16 am

Wow — I just read many pages of accomplishments. Congrats to you all!

Sometimes it’s inspiring, but more often than not I start feeling truly stick to my stomach, like I’ll never catch up or retire, and have made irrevocable mistakes/missed opportunities. However, I’m in a much, much better position than most Americans. You bogleheads are an impressive bunch. I’ll share a few accomplishments, in the spirit of keeping my head up.


Age: 31
  1. Spring 2019: found bogleheads.org
  2. Summer 2019: Inspired by bogleheads, I sold a 50k inheritance that I received about 10 years ago that was all invested in a single oil stock that did nothing over the 10 years I had it. I kept it invested in the oil stock due to a mix of poor family advice/sentimental feelings/being scared to screw up. After finding bogleheads I invested it in VTI, VT, and BLV. Not the best choices, I suppose, but still better than most. Hope to change this AA soon. You can read more about it here in my portfolio review request: Portfolio Review (first time): 31 & hoping to finally take control of finances .


  3. May 2020:
    1. joined as a member at bogleheads
    2. new job as a school teacher. Pay isn’t great, but should relieve me of paycheck-to
      paycheck living by 2021.
Next goals: get out of Raymond James broker and join either Fidelity or Vanguard; pay off my 7k student loan debt, start saving and build up 6 months emergency fund at a high yield savings account.

Thanks to all that make this forum what it is.

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Re: Post your Financial Milestone Announcements Here

Post by calvin+hobbes » Sun May 24, 2020 9:31 am

HEDGEFUNDIE wrote:
Sat May 23, 2020 9:43 am
My total compensation just hit $400k as of the close of trading on Friday.

I will say that I take some satisfaction in this. My entire professional life I’ve been reaching for the most prestigious tier of companies and always coming up short. Whether it’s MBB during business school or Google and Facebook afterwards, I’ve made it to half a dozen final round interviews and never been able to cross the finish line. BCG was an exceptionally hard loss, with the recruiting partner taking a personal interest in my application, taking me out to dinner, and yet I just couldn’t perform well on the day of the final interview.

Now I make more money than if I had gotten into any of those jobs.

Another point of validation is that I picked my current company two years ago specifically for its equity growth potential, having studied industry and customer trends using all the finance & strategy skills I picked up in my MBA and prior roles. In a sense, you can say that I was stock picking writ large. A pick that paid off in spades!

A friend at Facebook recently saw my stock price and sent me a message of congratulations, and asked me how it felt to be rich. I must say, it feels damn good!
Congratulations. Can you explain what you mean by 400k at the market close? Is that compensation YTD if you cashed out? I am just curious how compensation can be so concretely tied to an individual stock price. Consider myself fairly ignorant in this arena.
Last edited by calvin+hobbes on Sun May 24, 2020 9:41 am, edited 1 time in total.

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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Sun May 24, 2020 9:38 am

Cranberry44 wrote:
Sun May 24, 2020 9:16 am
Wow — I just read many pages of accomplishments. Congrats to you all!

Sometimes it’s inspiring, but more often than not I start feeling truly stick to my stomach, like I’ll never catch up or retire, and have made irrevocable mistakes/missed opportunities. However, I’m in a much, much better position than most Americans. You bogleheads are an impressive bunch. I’ll share a few accomplishments, in the spirit of keeping my head up.


Age: 31
  1. Spring 2019: found bogleheads.org
  2. Summer 2019: Inspired by bogleheads, I sold a 50k inheritance that I received about 10 years ago that was all invested in a single oil stock that did nothing over the 10 years I had it. I kept it invested in the oil stock due to a mix of poor family advice/sentimental feelings/being scared to screw up. After finding bogleheads I invested it in VTI, VT, and BLV. Not the best choices, I suppose, but still better than most. Hope to change this AA soon. You can read more about it here in my portfolio review request: Portfolio Review (first time): 31 & hoping to finally take control of finances .


  3. May 2020:
    1. joined as a member at bogleheads
    2. new job as a school teacher. Pay isn’t great, but should relieve me of paycheck-to
      paycheck living by 2021.
Next goals: get out of Raymond James broker and join either Fidelity or Vanguard; pay off my 7k student loan debt, start saving and build up 6 months emergency fund at a high yield savings account.

Thanks to all that make this forum what it is.
Welcome! Keep it up. :thumbsup
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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Sun May 24, 2020 9:38 am

Earlier this month, I retired. My final paycheck just showed up in my bank account.
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon » Sun May 24, 2020 9:40 am

LadyGeek wrote:
Sun May 24, 2020 9:38 am
Earlier this month, I retired. My final paycheck just showed up in my bank account.
Congratulations on your retirement :D .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

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Re: Post your Financial Milestone Announcements Here

Post by americanbull » Sun May 24, 2020 9:58 am

LadyGeek wrote:
Sun May 24, 2020 9:38 am
Earlier this month, I retired. My final paycheck just showed up in my bank account.
Congrats! Hope you get some time to reflect and enjoy retirement!

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Re: Post your Financial Milestone Announcements Here

Post by Normchad » Sun May 24, 2020 10:06 am

LadyGeek wrote:
Sun May 24, 2020 9:38 am
Earlier this month, I retired. My final paycheck just showed up in my bank account.
Outstanding! Congratulations, and thanks for all that you give back to this community!

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Re: Post your Financial Milestone Announcements Here

Post by HEDGEFUNDIE » Sun May 24, 2020 10:12 am

calvin+hobbes wrote:
Sun May 24, 2020 9:31 am
HEDGEFUNDIE wrote:
Sat May 23, 2020 9:43 am
My total compensation just hit $400k as of the close of trading on Friday.

I will say that I take some satisfaction in this. My entire professional life I’ve been reaching for the most prestigious tier of companies and always coming up short. Whether it’s MBB during business school or Google and Facebook afterwards, I’ve made it to half a dozen final round interviews and never been able to cross the finish line. BCG was an exceptionally hard loss, with the recruiting partner taking a personal interest in my application, taking me out to dinner, and yet I just couldn’t perform well on the day of the final interview.

Now I make more money than if I had gotten into any of those jobs.

Another point of validation is that I picked my current company two years ago specifically for its equity growth potential, having studied industry and customer trends using all the finance & strategy skills I picked up in my MBA and prior roles. In a sense, you can say that I was stock picking writ large. A pick that paid off in spades!

A friend at Facebook recently saw my stock price and sent me a message of congratulations, and asked me how it felt to be rich. I must say, it feels damn good!
Congratulations. Can you explain what you mean by 400k at the market close? Is that compensation YTD if you cashed out? I am just curious how compensation can be so concretely tied to an individual stock price. Consider myself fairly ignorant in this arena.
Tech companies offer RSUs as a significant component of compensation. After the first year, shares typically vest on a monthly or quarterly basis. Right now I have X shares that have been granted and due to vest over the next four years. So my expected stock compensation over the next year is X / 4 * current stock price.

Roughly half of my $400k is base salary, the other half is stock.

Working for a company that offers stock is the best way to accelerate your earnings. Look at RNG. Two years ago their stock was around $75. It’s at $262 today. So if you joined two years ago in a role that paid $200k/year ($150k cash and $50k annually vesting stock), today you would be making $325k without getting a single raise or promotion.

Obviously this is stock-picking on steroids, but when it pays off there’s nothing else like it.
Last edited by HEDGEFUNDIE on Sun May 24, 2020 10:24 am, edited 2 times in total.

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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Sun May 24, 2020 10:15 am

Thanks to all. The final paycheck, along with rolling my 401(k) and HSA out of my employer's grasp, is a gratifying feeling. I've posted my experience starting here: Re: Roll Call for the Retirement Class of 2020!
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Re: Post your Financial Milestone Announcements Here

Post by calvin+hobbes » Sun May 24, 2020 10:23 am

HEDGEFUNDIE wrote:
Sun May 24, 2020 10:12 am
calvin+hobbes wrote:
Sun May 24, 2020 9:31 am
HEDGEFUNDIE wrote:
Sat May 23, 2020 9:43 am
My total compensation just hit $400k as of the close of trading on Friday.

I will say that I take some satisfaction in this. My entire professional life I’ve been reaching for the most prestigious tier of companies and always coming up short. Whether it’s MBB during business school or Google and Facebook afterwards, I’ve made it to half a dozen final round interviews and never been able to cross the finish line. BCG was an exceptionally hard loss, with the recruiting partner taking a personal interest in my application, taking me out to dinner, and yet I just couldn’t perform well on the day of the final interview.

Now I make more money than if I had gotten into any of those jobs.

Another point of validation is that I picked my current company two years ago specifically for its equity growth potential, having studied industry and customer trends using all the finance & strategy skills I picked up in my MBA and prior roles. In a sense, you can say that I was stock picking writ large. A pick that paid off in spades!

A friend at Facebook recently saw my stock price and sent me a message of congratulations, and asked me how it felt to be rich. I must say, it feels damn good!
Congratulations. Can you explain what you mean by 400k at the market close? Is that compensation YTD if you cashed out? I am just curious how compensation can be so concretely tied to an individual stock price. Consider myself fairly ignorant in this arena.
Tech companies offer RSUs as a significant component of compensation. After the first year, shares typically vest on a monthly or quarterly basis. Right now I have X shares that have been granted and due to vest over the next four years. So my expected stock compensation over the next year is X / 4 * current stock price.

Roughly half of my $400k is base salary, the other half is stock.
Awesome. Thanks for the clarification. So if you leave in 2 years for a competitor, the remaining shares are forfeit? How do you feel about tying a significant portion of your capital to a single company stock? I’m sure it works out fine the majority of the time but that would make me nervous.

Edit: looks like your edit captured some of my follow up questions. Congrats again!

HEDGEFUNDIE
Posts: 4801
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Re: Post your Financial Milestone Announcements Here

Post by HEDGEFUNDIE » Sun May 24, 2020 10:29 am

calvin+hobbes wrote:
Sun May 24, 2020 10:23 am
HEDGEFUNDIE wrote:
Sun May 24, 2020 10:12 am
calvin+hobbes wrote:
Sun May 24, 2020 9:31 am
HEDGEFUNDIE wrote:
Sat May 23, 2020 9:43 am
My total compensation just hit $400k as of the close of trading on Friday.

I will say that I take some satisfaction in this. My entire professional life I’ve been reaching for the most prestigious tier of companies and always coming up short. Whether it’s MBB during business school or Google and Facebook afterwards, I’ve made it to half a dozen final round interviews and never been able to cross the finish line. BCG was an exceptionally hard loss, with the recruiting partner taking a personal interest in my application, taking me out to dinner, and yet I just couldn’t perform well on the day of the final interview.

Now I make more money than if I had gotten into any of those jobs.

Another point of validation is that I picked my current company two years ago specifically for its equity growth potential, having studied industry and customer trends using all the finance & strategy skills I picked up in my MBA and prior roles. In a sense, you can say that I was stock picking writ large. A pick that paid off in spades!

A friend at Facebook recently saw my stock price and sent me a message of congratulations, and asked me how it felt to be rich. I must say, it feels damn good!
Congratulations. Can you explain what you mean by 400k at the market close? Is that compensation YTD if you cashed out? I am just curious how compensation can be so concretely tied to an individual stock price. Consider myself fairly ignorant in this arena.
Tech companies offer RSUs as a significant component of compensation. After the first year, shares typically vest on a monthly or quarterly basis. Right now I have X shares that have been granted and due to vest over the next four years. So my expected stock compensation over the next year is X / 4 * current stock price.

Roughly half of my $400k is base salary, the other half is stock.
Awesome. Thanks for the clarification. So if you leave in 2 years for a competitor, the remaining shares are forfeit? How do you feel about tying a significant portion of your capital to a single company stock? I’m sure it works out fine the majority of the time but that would make me nervous.
I added some more context to my last post.

Yes, if you quit you forfeit anything that hasn’t vested, just like you forfeit any future salary.

As far as tying my compensation to stock, it’s not like I have a choice between a $400k job that pays half cash and half stock and a $400k job that is all cash, the latter kind of job does not exist, as far as I know. Once you get into the upper reaches of compensation, most of it is invariably variable.

FrankTheViking
Posts: 93
Joined: Wed Jan 08, 2020 3:44 pm

Re: Post your Financial Milestone Announcements Here

Post by FrankTheViking » Sun May 24, 2020 11:06 am

Hit 50k networth (30k invested) Friday.
Its a baby stone but bigger than the first dollar!
Fun fact: 30% of our current net worth is in vehicles haha. Don't buy new when you're broke. :oops:

Slight edit: Thought of an even funner fact. 22% of our net worth is in Toyota Corollas. It's not bogleheadish... but it's still pretty boglehead. Dedication baby.
No EF. 80% Total U.S. / 20% Total International. 100% equity. Is there a gun to your head? Is there a tiger in the room? No? What's the problem?

User avatar
calvin+hobbes
Posts: 113
Joined: Thu Jan 16, 2020 9:37 pm

Re: Post your Financial Milestone Announcements Here

Post by calvin+hobbes » Sun May 24, 2020 2:02 pm

HEDGEFUNDIE wrote:
Sun May 24, 2020 10:29 am
calvin+hobbes wrote:
Sun May 24, 2020 10:23 am
HEDGEFUNDIE wrote:
Sun May 24, 2020 10:12 am
calvin+hobbes wrote:
Sun May 24, 2020 9:31 am
HEDGEFUNDIE wrote:
Sat May 23, 2020 9:43 am
My total compensation just hit $400k as of the close of trading on Friday.

I will say that I take some satisfaction in this. My entire professional life I’ve been reaching for the most prestigious tier of companies and always coming up short. Whether it’s MBB during business school or Google and Facebook afterwards, I’ve made it to half a dozen final round interviews and never been able to cross the finish line. BCG was an exceptionally hard loss, with the recruiting partner taking a personal interest in my application, taking me out to dinner, and yet I just couldn’t perform well on the day of the final interview.

Now I make more money than if I had gotten into any of those jobs.

Another point of validation is that I picked my current company two years ago specifically for its equity growth potential, having studied industry and customer trends using all the finance & strategy skills I picked up in my MBA and prior roles. In a sense, you can say that I was stock picking writ large. A pick that paid off in spades!

A friend at Facebook recently saw my stock price and sent me a message of congratulations, and asked me how it felt to be rich. I must say, it feels damn good!
Congratulations. Can you explain what you mean by 400k at the market close? Is that compensation YTD if you cashed out? I am just curious how compensation can be so concretely tied to an individual stock price. Consider myself fairly ignorant in this arena.
Tech companies offer RSUs as a significant component of compensation. After the first year, shares typically vest on a monthly or quarterly basis. Right now I have X shares that have been granted and due to vest over the next four years. So my expected stock compensation over the next year is X / 4 * current stock price.

Roughly half of my $400k is base salary, the other half is stock.
Awesome. Thanks for the clarification. So if you leave in 2 years for a competitor, the remaining shares are forfeit? How do you feel about tying a significant portion of your capital to a single company stock? I’m sure it works out fine the majority of the time but that would make me nervous.
I added some more context to my last post.

Yes, if you quit you forfeit anything that hasn’t vested, just like you forfeit any future salary.

As far as tying my compensation to stock, it’s not like I have a choice between a $400k job that pays half cash and half stock and a $400k job that is all cash, the latter kind of job does not exist, as far as I know. Once you get into the upper reaches of compensation, most of it is invariably variable.
Thanks for the insight. Seems like the “rewards” are certainly well earned.

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Cranberry44
Posts: 87
Joined: Sun May 17, 2020 1:46 pm

Re: Post your Financial Milestone Announcements Here

Post by Cranberry44 » Sun May 24, 2020 4:07 pm

LadyGeek wrote:
Sun May 24, 2020 9:38 am
Cranberry44 wrote:
Sun May 24, 2020 9:16 am
Wow — I just read many pages of accomplishments. Congrats to you all!

Sometimes it’s inspiring, but more often than not I start feeling truly stick to my stomach, like I’ll never catch up or retire, and have made irrevocable mistakes/missed opportunities. However, I’m in a much, much better position than most Americans. You bogleheads are an impressive bunch. I’ll share a few accomplishments, in the spirit of keeping my head up.


Age: 31
  1. Spring 2019: found bogleheads.org
  2. Summer 2019: Inspired by bogleheads, I sold a 50k inheritance that I received about 10 years ago that was all invested in a single oil stock that did nothing over the 10 years I had it. I kept it invested in the oil stock due to a mix of sentimental feelings/being scared to screw up. After finding bogleheads I invested it in VTI, VT, and BLV. Not the best choices, I suppose, but still better than most. Hope to change this AA soon. You can read more about it here in my portfolio review request: Portfolio Review (first time): 31 & hoping to finally take control of finances .


  3. May 2020:
    1. joined as a member at bogleheads
    2. new job as a school teacher. Pay isn’t great, but should relieve me of paycheck-to
      paycheck living by 2021.
Next goals: get out of Raymond James broker and join either Fidelity or Vanguard; pay off my 7k student loan debt, start saving and build up 6 months emergency fund at a high yield savings account.

Thanks to all that make this forum what it is.
Welcome! Keep it up. :thumbsup

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Toons
Posts: 13642
Joined: Fri Nov 21, 2008 10:20 am
Location: Hills of Tennessee

Re: Post your Financial Milestone Announcements Here

Post by Toons » Sun May 24, 2020 4:18 pm

Bob Brinker's
Land Of Critical Mass
"The Land Of No Alarm Clocks"
:wink:
"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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calvin+hobbes
Posts: 113
Joined: Thu Jan 16, 2020 9:37 pm

Re: Post your Financial Milestone Announcements Here

Post by calvin+hobbes » Sun May 24, 2020 7:48 pm

bitdocmd wrote:
Sat Jan 18, 2020 9:01 am
Hi all,

Long-time lurker. Been following many Boglehead and White Coat Investor ideas since 2013.

2013: Net-worth negative $250k (med school loans) finishing residency.

2013-now: Followed WCI's advice to live like a resident. Paid back student loans within three years. Had a few splurges here and there (nice car, some nice watches) but never made a huge mistake buying a house, boat, getting married AND divorced, etc. Have loosened things up the last couple of years with nicer travel, professional sports season tickets.

2020: With current rise in stock market, just crossed net-worth of $1 million at age 40.

DISCLAIMER: Yes I am a Bitcoiner, but my gains in Bitcoin have been minuscule compared to those investing in low-cost Vanguard index funds.

Thank you Bogleheads and White Coat Investor!
Nice post. I finished fellowship in Summer 2018 (age 31) with the exact same 250k loan debt. My wife still had about 60k as well from her doctorate degree. Our net worth was around -175k at the time as we both maxed Roth IRAs starting in 2014 and she put a decent amount in to retirement after entering the workforce in 2013.

Pleased to say we are now at 500k NW.

That nicer car and courtside NBA tickets (just once!) are definitely on the list going forward.

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LadyGeek
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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Sun May 24, 2020 8:10 pm

Courtside NBA tickets will keep you focused on 'net' worth. :) Enjoy.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

Gooch1226
Posts: 23
Joined: Sat Mar 28, 2020 3:55 pm

Re: Mortgage paid off

Post by Gooch1226 » Sun May 24, 2020 8:31 pm

grabiner wrote:
Mon Apr 06, 2020 4:21 pm
I finished paying off my mortgage, while staying the course on stock allocation. I sold entirely bonds to pay off the mortgage (selling taxable stock when I had a capital loss or trivial gain, and buying an equal amount of stock in my employer plan), and kept my stock allocation intact. (I actually bought more stock because I needed to rebalance in March.)

Link to details of the thought process: Finally considering paying off my mortgage (in the last two posts, I made the decision to pay it off).
Congrats on paying off your mortgage! Serious accomplishment in my eyes !

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calvin+hobbes
Posts: 113
Joined: Thu Jan 16, 2020 9:37 pm

Re: Post your Financial Milestone Announcements Here

Post by calvin+hobbes » Sun May 24, 2020 8:38 pm

LadyGeek wrote:
Sun May 24, 2020 8:10 pm
Courtside NBA tickets will keep you focused on 'net' worth. :) Enjoy.
Hah. Might as well make it a Bulls game too!

Congratulations on your retirement and thank you for all the work you do to make this a great place for discussion. I’m sure there’s even more behind the scenes. It is appreciated.

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