Post your Financial Milestone Announcements Here

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NoGambleNoFuture
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Re: Post your Financial Milestone Announcements Here

Post by NoGambleNoFuture »

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.
Love your posts - out of curiosity I assume this is tech, what type of role? What were some other companies that were finalists when you accepted the one you’re in?

I’m at a company that has 10x’d in market cap since going public 5 years ago, including 3x in the past few years I’ve been here. Really fun times considering the last went to .2x then sold to PE during my tenure lol
HEDGEFUNDIE
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Re: Post your Financial Milestone Announcements Here

Post by HEDGEFUNDIE »

NoGambleNoFuture wrote: Sun May 24, 2020 10:21 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

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.
Love your posts - out of curiosity I assume this is tech, what type of role? What were some other companies that were finalists when you accepted the one you’re in?

I’m at a company that has 10x’d in market cap since going public 5 years ago, including 3x in the past few years I’ve been here. Really fun times considering the last went to .2x then sold to PE during my tenure lol
Congrats on your success.

I work for one of these: https://www.bvp.com/bvp-nasdaq-emerging-cloud-index

I did due diligence on many of the companies on this list before I made the move, because I was convinced of the long term trend of businesses moving their data and processes to the cloud. It paid off big time.

My role requires an MBA, that's all I'll say.
NoGambleNoFuture
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Re: Post your Financial Milestone Announcements Here

Post by NoGambleNoFuture »

HEDGEFUNDIE wrote: Sun May 24, 2020 10:34 pm
NoGambleNoFuture wrote: Sun May 24, 2020 10:21 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

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.
Love your posts - out of curiosity I assume this is tech, what type of role? What were some other companies that were finalists when you accepted the one you’re in?

I’m at a company that has 10x’d in market cap since going public 5 years ago, including 3x in the past few years I’ve been here. Really fun times considering the last went to .2x then sold to PE during my tenure lol
Congrats on your success.

I work for one of these: https://www.bvp.com/bvp-nasdaq-emerging-cloud-index

I did due diligence on many of the companies on this list before I made the move, because I was convinced of the long term trend of businesses moving their data and processes to the cloud. It paid off big time.

My role requires an MBA, that's all I'll say.
Very cool. Yeah my company is on that list, too. Guess there is a non-zero chance that we’re at the same company :sharebeer

Have an MBA too which opened my initial door into tech but isn’t critical to my role in the slightest outside of general business acumen.

Looking forward to rereading these posts in a few years and seeing how far we’ve come then.
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abuss368
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Re: Post your Financial Milestone Announcements Here

Post by abuss368 »

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
Congrats! I remember that day!
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livesoft
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Re: Post your Financial Milestone Announcements Here

Post by livesoft »

Last night the 25-year-old clothes washer would not drain the water. So I taught my son a financial milestone that cost $35 plus tax: How to go to youtube, search on symptoms, watch videos, diagnose the problem, siphon out the undrained water, google "appliance parts", call the parts place today, pay for the part over the phone (you know: Covid-19, they won't open their doors), drive there, get the part furtively passed through the door, drive home, install the part, and now my son can finish washing our clothes. Sometimes financial milestone are not expensive, yet are: Priceless!
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theDON2050
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Re: Post your Financial Milestone Announcements Here

Post by theDON2050 »

Filled all tax incentivized buckets (DS ira, my roth IRA, family HSA) earlier in the year than ever before. 401k will be full at year end. Plan for the rest of the year is 3/4 taxable account and 1/4 college savings plan.
as9
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Re: Post your Financial Milestone Announcements Here

Post by as9 »

Hit 300k NW today (age 35). Far too much of it is home equity, but working on that.
boglenomics
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Re: Post your Financial Milestone Announcements Here

Post by boglenomics »

Crossed 100k NW today (age 22) mostly mix of cash and maxing out of both 401k & Roth IRA in a 3-Fund. Grew up in a financially troubled family and had to drop out of college. A few very lucky steps I took ended me up in a six figure job for mega-corp way quicker than I ever expected.

Stumbled into Jack Bogle and then into this thread a few years back which kept me frugal and focused on the future. Thanks all!
Pinotage
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Re: Our mortgage is GONE!

Post by Pinotage »

willthrill81 wrote: Wed Mar 11, 2020 11:07 pm We're still reveling in it. Not having to make the mortgage payment last week surely felt good.
Just noticed this.

That’s really great Will, congratulations!
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willthrill81
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Re: Our mortgage is GONE!

Post by willthrill81 »

Pinotage wrote: Sat May 30, 2020 11:03 am
willthrill81 wrote: Wed Mar 11, 2020 11:07 pm We're still reveling in it. Not having to make the mortgage payment last week surely felt good.
Just noticed this.

That’s really great Will, congratulations!
Thanks!

I know that it's mostly emotional, but it definitely feels good in the current environment to know that we don't have to make a P&I payment in order to keep a roof over our heads. Yes, we still have to pay property taxes, insurance, and maintenance, but all of that is a fraction of our former P&I payment. And with our freed up cash flow, we're able to put 50% of our gross income into tax-advantaged accounts.
“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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ruralavalon
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Re: Our mortgage is GONE!

Post by ruralavalon »

willthrill81 wrote: Sat May 30, 2020 12:15 pm
Pinotage wrote: Sat May 30, 2020 11:03 am
willthrill81 wrote: Wed Mar 11, 2020 11:07 pm We're still reveling in it. Not having to make the mortgage payment last week surely felt good.
Just noticed this.

That’s really great Will, congratulations!
Thanks!

I know that it's mostly emotional, but it definitely feels good in the current environment to know that we don't have to make a P&I payment in order to keep a roof over our heads. Yes, we still have to pay property taxes, insurance, and maintenance, but all of that is a fraction of our former P&I payment. And with our freed up cash flow, we're able to put 50% of our gross income into tax-advantaged accounts.
Congratulations willthrill81, that's great :) .

I was surprised at how good it felt to become debt free. I really didn't believe it would make much difference, but it did.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started
runner540
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Re: Post your Financial Milestone Announcements Here

Post by runner540 »

boglenomics wrote: Sat May 30, 2020 10:58 am Crossed 100k NW today (age 22) mostly mix of cash and maxing out of both 401k & Roth IRA in a 3-Fund. Grew up in a financially troubled family and had to drop out of college. A few very lucky steps I took ended me up in a six figure job for mega-corp way quicker than I ever expected.

Stumbled into Jack Bogle and then into this thread a few years back which kept me frugal and focused on the future. Thanks all!
Congrats on a huge milestone and a great start to your career. Glad you found Bogleheads.
ForeverInvestorILL
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Re: Post your Financial Milestone Announcements Here

Post by ForeverInvestorILL »

Crossed $200K for the first time when updating my NW this morning (Age 26.5). Also, first time my VG account balance has been over $150K (between Taxable, Roth IRA, and 401K). Went back in my NW records to find it has been 1 year and 8 months since I hit $100K (WOW). That is truly awesome to see and I owe this forum a ton credit in keeping me on track!

On a more personal milestone note, next weekend I will be asking my SO a rather large, very important question. Wish me luck!
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wander
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Re: Post your Financial Milestone Announcements Here

Post by wander »

ForeverInvestorILL wrote: Fri Jun 05, 2020 12:56 pm Crossed $200K for the first time when updating my NW this morning (Age 26.5). Also, first time my VG account balance has been over $150K (between Taxable, Roth IRA, and 401K). Went back in my NW records to find it has been 1 year and 8 months since I hit $100K (WOW). That is truly awesome to see and I owe this forum a ton credit in keeping me on track!

On a more personal milestone note, next weekend I will be asking my SO a rather large, very important question. Wish me luck!
That's great. Keep it up! You do much better than I did when I was your age.
livesoft
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Re: Post your Financial Milestone Announcements Here

Post by livesoft »

ForeverInvestorILL wrote: Fri Jun 05, 2020 12:56 pmOn a more personal milestone note, next weekend I will be asking my SO a rather large, very important question. Wish me luck!
Congrats! Good luck!
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LadyGeek
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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek »

Likewise, Good luck! 🍀
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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

livesoft wrote: Fri Jun 05, 2020 1:02 pm
ForeverInvestorILL wrote: Fri Jun 05, 2020 12:56 pmOn a more personal milestone note, next weekend I will be asking my SO a rather large, very important question. Wish me luck!
Congrats! Good luck!
Best of luck to you :) .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started
mmcmonster
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Re: Post your Financial Milestone Announcements Here

Post by mmcmonster »

A slightly different milestone:

It's been 5 years since I started tracking my net worth on a monthly basis, complete with figuring out my asset allocation.

This allows me to graph my net worth over the five year time period. It also gives me comfort to stay the course, since I can see the steady upward (for the most part) trend when I follow my plan.
Pinotage
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Re: Post your Financial Milestone Announcements Here

Post by Pinotage »

ForeverInvestorILL wrote: Fri Jun 05, 2020 12:56 pm Crossed $200K for the first time when updating my NW this morning (Age 26.5). Also, first time my VG account balance has been over $150K (between Taxable, Roth IRA, and 401K). Went back in my NW records to find it has been 1 year and 8 months since I hit $100K (WOW). That is truly awesome to see and I owe this forum a ton credit in keeping me on track!

On a more personal milestone note, next weekend I will be asking my SO a rather large, very important question. Wish me luck!
Congratulations and good luck!

Awesome job saving so far, predict many years of prosperity and happiness in your future :sharebeer
EnjoyIt
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Re: Post your Financial Milestone Announcements Here

Post by EnjoyIt »

Thanks to new contributions and rebalancing on March 16th my net worth is higher today then compared to pre COVID.
A time to EVALUATE your jitters: | https://www.bogleheads.org/forum/viewtopic.php?f=10&t=79939&start=400#p5275418
schpogle
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Thank you, Bogleheads!

Post by schpogle »

I was plotting my liquid accounts (retirement, college savings, and emergency fund) against the S&P 500 and -- WOW -- I'll give you one guess as to which year I started lurking here and paying attention to planning for my financial future...

Blue area - S&P 500 benchmark starting at my 2012 account balance
Red line - my liquid accounts balance
Gray bars - my net worth

Thank you!

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ClaycordJCA
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Re: Post your Financial Milestone Announcements Here

Post by ClaycordJCA »

My 401k balance now exceeds the preCOVID19 high watermark by $8,000. :D Some of the increase stems from new contributions, but as it now stands my June 15th investment will be used to buy bonds.
manatee2005
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Re: Post your Financial Milestone Announcements Here

Post by manatee2005 »

KlangFool wrote: Thu Dec 19, 2019 3:34 pm Folks,

I just paid the last college tuition bill (Spring 2020) of my daughter (2nd and last child). There goes the last college tuition bill. The end is in sight!!

KlangFool
Wait till you pay for college for grandkids :-)
KlangFool
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Re: Post your Financial Milestone Announcements Here

Post by KlangFool »

manatee2005 wrote: Tue Jun 09, 2020 2:51 am
KlangFool wrote: Thu Dec 19, 2019 3:34 pm Folks,

I just paid the last college tuition bill (Spring 2020) of my daughter (2nd and last child). There goes the last college tuition bill. The end is in sight!!

KlangFool
Wait till you pay for college for grandkids :-)
Not my problem.

KlangFool
manatee2005
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Re: Post your Financial Milestone Announcements Here

Post by manatee2005 »

KlangFool wrote: Tue Jun 09, 2020 6:12 am
manatee2005 wrote: Tue Jun 09, 2020 2:51 am
KlangFool wrote: Thu Dec 19, 2019 3:34 pm Folks,

I just paid the last college tuition bill (Spring 2020) of my daughter (2nd and last child). There goes the last college tuition bill. The end is in sight!!

KlangFool
Wait till you pay for college for grandkids :-)
Not my problem.

KlangFool
That’s what you say now. Wait till they’re born. You won’t be able to help yourself.
KlangFool
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Re: Post your Financial Milestone Announcements Here

Post by KlangFool »

manatee2005 wrote: Tue Jun 09, 2020 9:55 am
KlangFool wrote: Tue Jun 09, 2020 6:12 am
manatee2005 wrote: Tue Jun 09, 2020 2:51 am
KlangFool wrote: Thu Dec 19, 2019 3:34 pm Folks,

I just paid the last college tuition bill (Spring 2020) of my daughter (2nd and last child). There goes the last college tuition bill. The end is in sight!!

KlangFool
Wait till you pay for college for grandkids :-)
Not my problem.

KlangFool
That’s what you say now. Wait till they’re born. You won’t be able to help yourself.
manatee2005,

I had helped my younger sister, nephews, and nieces. It is time for the next generation to do their part.

KlangFool
manatee2005
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Re: Post your Financial Milestone Announcements Here

Post by manatee2005 »

KlangFool wrote: Tue Jun 09, 2020 9:59 am
manatee2005 wrote: Tue Jun 09, 2020 9:55 am
KlangFool wrote: Tue Jun 09, 2020 6:12 am
manatee2005 wrote: Tue Jun 09, 2020 2:51 am
KlangFool wrote: Thu Dec 19, 2019 3:34 pm Folks,

I just paid the last college tuition bill (Spring 2020) of my daughter (2nd and last child). There goes the last college tuition bill. The end is in sight!!

KlangFool
Wait till you pay for college for grandkids :-)
Not my problem.

KlangFool
That’s what you say now. Wait till they’re born. You won’t be able to help yourself.
manatee2005,

I had helped my younger sister, nephews, and nieces. It is time for the next generation to do their part.

KlangFool
That’s actually proving me right. You won’t be able to resist helping.
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LadyGeek
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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek »

The discussion is getting derailed. Please stay on-topic.
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Bb073084
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Re: Post your Financial Milestone Announcements Here

Post by Bb073084 »

We reached a new milestone at $1.2M. Hoping we can retire early someday if things keep progressing the way they have for another 10-15 years.

Started working in 2008. Did not track prior to 2016.
2016: $0.5M
2017: $0.7M (first year with children and daycare costs)
2018: $0.8M
2019: $1.1M
YTD: $1.2m

Goal is to retire with a paid off house and $2.5-$3M in assets at age 50 if at all possible.
Glockenspiel
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Re: Post your Financial Milestone Announcements Here

Post by Glockenspiel »

We reached a major milestone with a household net worth just crossing into 7 digits.

We're hoping to be able to retire as our kids get into college in about 18 years.

Net worth progression:
2011: 102k
2012: 162k
2013: 208k
2014: 288k
2015: 361k
2016: 481k
2017: 589k
2018: 627k
2019: 829k
Today: 1022k
Glockenspiel
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Re: Post your Financial Milestone Announcements Here

Post by Glockenspiel »

Bb073084 wrote: Wed Jun 10, 2020 10:28 am We reached a new milestone at $1.2M. Hoping we can retire early someday if things keep progressing the way they have for another 10-15 years.

Started working in 2008. Did not track prior to 2016.
2016: $0.5M
2017: $0.7M (first year with children and daycare costs)
2018: $0.8M
2019: $1.1M
YTD: $1.2m

Goal is to retire with a paid off house and $2.5-$3M in assets at age 50 if at all possible.
What are your current ages? We're about a year behind your growth and just curious. Also looking to retire with about $3 million in today's dollars in our early 50s.
student
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Re: Post your Financial Milestone Announcements Here

Post by student »

Bb073084 wrote: Wed Jun 10, 2020 10:28 am We reached a new milestone at $1.2M. Hoping we can retire early someday if things keep progressing the way they have for another 10-15 years.

Started working in 2008. Did not track prior to 2016.
2016: $0.5M
2017: $0.7M (first year with children and daycare costs)
2018: $0.8M
2019: $1.1M
YTD: $1.2m

Goal is to retire with a paid off house and $2.5-$3M in assets at age 50 if at all possible.
Wow. Congratulations.
student
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Re: Post your Financial Milestone Announcements Here

Post by student »

Glockenspiel wrote: Thu Jun 18, 2020 3:21 pm We reached a major milestone with a household net worth just crossing into 7 digits.

We're hoping to be able to retire as our kids get into college in about 18 years.

Net worth progression:
2011: 102k
2012: 162k
2013: 208k
2014: 288k
2015: 361k
2016: 481k
2017: 589k
2018: 627k
2019: 829k
Today: 1022k
Very impressive. Congratulations.
nepats
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Re: Post your Financial Milestone Announcements Here

Post by nepats »

We "superfunded" kids college accounts, so now we are done with their college savings if the market does what it has done in the past :sharebeer
SEAworld9
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Re: Post your Financial Milestone Announcements Here

Post by SEAworld9 »

i crossed over into the two comma club yesterday thanks to my NW being up 23% so far this year. turned 37 in april.

but more proud of my fiancé who as of this month has her student loan balance finally down to five figures! she is 34.

as a couple we hit two commas back in april a few days after my birthday.
fsrph
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Re: Post your Financial Milestone Announcements Here

Post by fsrph »

SEAworld9 wrote: Sat Jun 20, 2020 8:20 am i crossed over into the two comma club yesterday thanks to my NW being up 23% so far this year. turned 37 in april.

but more proud of my fiancé who as of this month has her student loan balance finally down to five figures! she is 34.

as a couple we hit two commas back in april a few days after my birthday.
That's awesome. Congratulations.

Francis
"Success is getting what you want. Happiness is wanting what you get." | Dale Carnegie
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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

SEAworld9 wrote: Sat Jun 20, 2020 8:20 am i crossed over into the two comma club yesterday thanks to my NW being up 23% so far this year. turned 37 in april.

but more proud of my fiancé who as of this month has her student loan balance finally down to five figures! she is 34.

as a couple we hit two commas back in april a few days after my birthday.
Congratulations :D .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started
Walkure
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Re: Post your Financial Milestone Announcements Here

Post by Walkure »

theDON2050 wrote: Tue May 26, 2020 7:45 pm Filled all tax incentivized buckets (DS ira, my roth IRA, family HSA) earlier in the year than ever before. 401k will be full at year end. Plan for the rest of the year is 3/4 taxable account and 1/4 college savings plan.
Similar milestone coming up for me - I set our contribution percentages at the beginning of the year to max out for the first time :), but due to a promotion and bonus :D, I'm on track to hit the 401k limit in early November, so I guess I'm about to start a serious foray into taxable for the first time!
ziggny
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Re: Post your Financial Milestone Announcements Here

Post by ziggny »

Went into contract on my first house today. (It's technically my second attempted foray into homeownership, as my wife and I went into contract on a spec condo in Brooklyn four years ago - but exercised the opt-out clause after extensive construction delays.) Fast forward to today - with a six week old baby, we're officially pivoting to life in the suburbs. Have to say, all of this happened sooner than I thought it would.
corgilady2011
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Re: Post your Financial Milestone Announcements Here

Post by corgilady2011 »

My SO and I became millionaires effective our next paycheck this evening. At age 34 and 31 respectively. I work in software sales and closed the single largest deal in company history and have earned a $200,000 pay-day that pushed us over the edge. What an emotional experience and a transformational achievement for myself and my company!
RocketShipTech
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Re: Post your Financial Milestone Announcements Here

Post by RocketShipTech »

corgilady2011 wrote: Wed Jun 24, 2020 9:29 pm My SO and I became (in theory) millionaires effective our next paycheck this evening. At age 35 and 31 respectively. I work in software sales and closed the single largest deal in company history and have earned a $200,000 pay-day that pushed us over the edge. What an emotional experience and a transformational achievement for myself and my company!
Congratulations. Just curious, does your company have any commission clawback provision in case the customer doesn’t launch successfully or terminates their contract early?
corgilady2011
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Re: Post your Financial Milestone Announcements Here

Post by corgilady2011 »

RocketShipTech wrote: Wed Jun 24, 2020 9:31 pm
corgilady2011 wrote: Wed Jun 24, 2020 9:29 pm My SO and I became (in theory) millionaires effective our next paycheck this evening. At age 35 and 31 respectively. I work in software sales and closed the single largest deal in company history and have earned a $200,000 pay-day that pushed us over the edge. What an emotional experience and a transformational achievement for myself and my company!
Congratulations. Just curious, does your company have any commission clawback provision in case the customer doesn’t launch successfully or terminates their contract early?
The only provision that I have personally for clawback is if for whatever reason the company refuses to pay the annual subscription fee that is due 60 days upon receipt. We do have a full purchase order that is endorsed by the CEO and this is a Fortune 500 organization that I sold to. But I am also the most tenured sales representative & top performer of all time in my company, and I believe that my compensation plan terms are slightly different to some others in my organization.
Bb073084
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Re: Post your Financial Milestone Announcements Here

Post by Bb073084 »

Glockenspiel wrote: Thu Jun 18, 2020 3:34 pm
Bb073084 wrote: Wed Jun 10, 2020 10:28 am We reached a new milestone at $1.2M. Hoping we can retire early someday if things keep progressing the way they have for another 10-15 years.

Started working in 2008. Did not track prior to 2016.
2016: $0.5M
2017: $0.7M (first year with children and daycare costs)
2018: $0.8M
2019: $1.1M
YTD: $1.2m

Goal is to retire with a paid off house and $2.5-$3M in assets at age 50 if at all possible.
What are your current ages? We're about a year behind your growth and just curious. Also looking to retire with about $3 million in today's dollars in our early 50s.
We are in our mid 30s.
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Hub
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Two Comma Club

Post by Hub »

[Merged into the ongoing thread -- moderator oldcomputerguy]

Our family hit this milestone at 6/30 and I don’t have anyone to share it with so I am posting here.

11 years ago we were 29 and had the big let’s have a baby talk. A big chief tablet and a couple hours later we came to a net worth at that time of -19k. We went initially full Dave Ramsey and have progressed since, but have maintained a plan and a budget since. 5 years ago we were saving half our income and en route to great numbers when my wife expressed a desire to stay home with the kids (she made more than me at the time). Reboot the plan, I got much more aggressive in my career path, and here we are at 40 which was always a “goal” year for me. We’re finally back to the 50% savings rate more or less.

We have 150k in home equity in the number and I don’t fully count that so I have another two comma milestone of investable assets as my next target. Nothing changes obviously but it’s progress and reward of a great decade for my family. No windfalls, no inheritance, no side hustle, w-2 earners, same house for 15 years etc. Typical boglehead millionaire next door path really.

I want to celebrate with a nice steak, and will, but my wife doesn’t really care beyond wondering why we haven’t done the big backyard remodel she wants yet. Which is part of why she’s such a good partner in crime. Thanks all for the wisdom here. Hopefully we can almost double it in the next 5 years and fully consider a very early semi-retirement.
Last edited by Hub on Thu Jul 02, 2020 11:12 pm, edited 1 time in total.
Normchad
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Re: Two Comma Club

Post by Normchad »

Congratulations! That is awesome, and you should feel justifiably proud. A lot of posters on the board have the same issue; nobody to share such good news with.

there is a long running thread somewhere, for posting just such good news!

2020 has been a tough year, and you're still kicking butt! If you can do it this year, just imagine what lies ahead for you.
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whodidntante
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Re: Two Comma Club

Post by whodidntante »

Congratulations on the milestone. :beer
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Cycle
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Re: Two Comma Club

Post by Cycle »

Congrats, that's an amazing accumulation in 11 years, keep it up and happy FIREing
Never look back unless you are planning to go that way
Vanguard Fan 1367
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Re: Two Comma Club

Post by Vanguard Fan 1367 »

Congratulations! The wife and I have children. I am glad you have managed to save and also have children.
Upton Sinclair: "It is difficult to get a man to understand something when his salary depends on his not understanding it."
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Hub
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Re: Two Comma Club

Post by Hub »

Thanks for the kind words! Our vehicles are 2007 & 2010, so I think we’ll replace both this year.

Also I am remiss to not mention the MrMoneyMoustache blog as a catalyst that pushed us to amp up savings the year before wife quit working. Ironically, and this was a backfire, we had just saved her whole $85k salary the prior year when she decided to stay home. As a result my answer to “what would change if I quit working” was “nothing.” Doh. It worked out for the best for sure because we had options but it was a blow to my spreadsheet projections at the time and caused me much stress.
Last edited by Hub on Thu Jul 02, 2020 11:41 pm, edited 1 time in total.
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WarAdmiral
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Re: Two Comma Club

Post by WarAdmiral »

Well done! Congratulations and Welcome to the club.

Wondering if you would be willing to share: What was you asset allocation ? Any individual stocks in your portfolio ?
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