Congrats! Well done. This is what I keep telling my ArtsyFriends. It's not what you make... it's what you KEEP.brian91480 wrote: ↑Thu Apr 08, 2021 7:56 pmI know people who earn more than you... who will never sniff $100,000 in a retirement account. You should feel very proud of yourself.elliott1234 wrote: ↑Thu Apr 08, 2021 7:41 pm It took ~9 years but I got there! I'm 37, never made more than $37,000 a year but maxed out my Roth every year and had some small IRA's + matching from employers. Enjoying it before the market goes down
Post your Financial Milestone Announcements Here
Re: Finally cracked 100k in retirement accounts!
Re: Post your Financial Milestone Announcements Here
Thank you - you are very kind. I look at the number and feel guilty - 20% comes fro inheritance.
Re: Post your Financial Milestone Announcements Here
This is terrific! It’s really hard starting out and getting things going in the right direction.ArtsyProf wrote: ↑Sat May 08, 2021 5:42 pm My net worth reached $250,000 for the first time! I am a quarter-millionaire! This is a big deal because I spent my 20s in grad school w loans (in the arts), my 30s working in contingent faculty positions (underpaid, but managed to save a few thousand in whatever plan was offered even in part time gigs) in VHCOL locations but/and paid off grad school loans, persisted with my career goals, and hit my stride w a full time job in my 40s. As a result, I started a 403b 7 years ago and then a 457 about 2 years ago. I increased my contributions during 2020 when expenses declined due to work from home and moving into share housing to save money. Luckily, I kept my job during the pandemic, found BH, made sure I had low ER choices picked when I had the options, and even started a brokerage account and a Roth IRA. Along the way, I invested in a very modest rental property that is paying for itself and has $90,000 equity in it now. No debt. The recent stock market gains and increasing my savings rate increased my balances. So.. $250,000 net worth in retirement accounts/savings/brokerage plus $90,000 equity invested in a rental condo. I am sooo proud of myself!
You’ve accomplished a lot, and you are really on your way now! Keep it up!
Last edited by Normchad on Sun May 09, 2021 12:05 pm, edited 1 time in total.
- ruralavalon
- Posts: 26297
- Joined: Sat Feb 02, 2008 9:29 am
- Location: Illinois
Re: Post your Financial Milestone Announcements Here
Congratulations .
We have four children, through college without any loans.
I remember the end of college expenses, to me that felt like an enormous pay raise.
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
Re: Post your Financial Milestone Announcements Here
Just accepted a job offer for 120k per year + stock options. Was previously making 75k. I'm very excited!!
Re: Post your Financial Milestone Announcements Here
That is a HUGE increase in compensation. You should be excited!
Congratulations!
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
Re: Post your Financial Milestone Announcements Here
Now the key to retirement savings is to not inflate your lifestyle. At least half of your salary increase should go to retirement savings, for instance that is enough to “max-out” a regular 401K and make $6000 Roth contributions.
It's not an engineering problem - Hersh Shefrin | To get the "risk premium", you really do have to take the risk - nisiprius
Re: Post your Financial Milestone Announcements Here
Doc7 wrote: ↑Fri Apr 30, 2021 10:31 am Milestone:
As of April 2021 my wife and I are putting away 25.06% of income to retirement. 24% to tax advantaged accounts and 1% to a taxable account in a TSM ETF - ostensibly a “pay off mortgage 5-10 years early fund” but may be used for college or retirement, it should be 1X or more our annual expense to bridge some time to 59.5.
We are 36 with $730K invested assets and after matches we are putting away 32% / $62K a year and suddenly I feel like retiring in 18 years, depending on our 3X kids college expenses may be a possibility!
I always believed in “save 17% for retirement.” I included company match. Then over the last 3 years I said, let’s get to 17% pre match. Then over the last 3 months, our emergency fund finished ($650/mo savings was going there to get to 4.5 months expenses), and I just hit the brakes on our 529 plans also, and cranked us from 17% to 25% over the course of about 6 weeks. Our next couple years of raises will likely go back into 529s, I was saving $350/mo per kid and now only $30/mo per kid. But they say, “you can’t take out a loan for retirement” and by the time they go to college i could very well have $3M+ and dial back retirement to assist with college via cash flow.
Great post....my wife and I make a combined salary of about $160,000 and are putting away $53,000 annually into retirment. It amazes me how fast our accounts have grown in the past few years. We are 40 and 36 and have about $500,000 invested and we also pumped the breaks on the 529 accounts. Our plan is to continue to fund retirment and by the time kids go to college we will have alot of money in the bank and should be able to easily cash flow college. Congrats and its amazing to see how fast money grows in a hot market when you live well below your means. Keep up the good work
Re: Post your Financial Milestone Announcements Here
Absolutely! We managed to maintain a 30% savings rate prior to new job. We'll maintain that rate + a few percent by maxing our remaining 401k space plus starting regular contributions to our taxable (both Roths are already maxed).
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Re: Post your Financial Milestone Announcements Here
Just go to the workplace, ask to see the manager and approach him while maintaining strong eye contact and tell him you need a job while giving him a firm handshake.KillerPortfolio wrote: ↑Wed May 12, 2021 2:24 pmCongratulations! That is huge! Care to share how you managed such a large increase? I could use some pointers...
Kidding. Short answer would be luck. Longer answer would be work harder than everyone else everyday at current job, build a great reputation, build relationships, and maybe one of those relationships will reach out in the future to ask you to join their team.
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Re: Post your Financial Milestone Announcements Here
Unless you had to move to CA to do it, CONGRATS!!! (Cost of living based comment. Not necessarily a CA "hater.")
Now, If you were living within your means at $75,000 you still can, right? BANK IT ALL! Or most of it, for at least for 3-5 years.
I remember my first "big jump" in salary. Happy for you!
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Re: Post your Financial Milestone Announcements Here
We just crossed into the seven figure space.
There is a caveat here, however. We just sold our house, and the funds cleared. I wasn't really counting our home value as a part of our net worth since it's a moving target, but we are also not going to be buying a home anytime in the next couple years. So, the is ours until we buy again. The home sale proceeds was about 15% of our net worth.
Still, adding up all the numbers across the accounts, and here we are, in a spot I could never have fathomed years ago. Definitely could not have fathomed it when I first logged onto Bogleheads and started asking questions. I had no idea what I was doing. Always wondered who those people were who hit the millionaire status and what they did. We never made a lot of money. I'm not even comfortable using that word--millionaire--in reference to myself. So, I'm not sure how I feel. How am I supposed to feel? Another day, another dollar. But I do think it's important to celebrate milestones, and as I've not told anyone I know, I'm sharing this with all of you. Wish I could sit down with a few of you in person to reflect, and buy you all a round.
There is a caveat here, however. We just sold our house, and the funds cleared. I wasn't really counting our home value as a part of our net worth since it's a moving target, but we are also not going to be buying a home anytime in the next couple years. So, the is ours until we buy again. The home sale proceeds was about 15% of our net worth.
Still, adding up all the numbers across the accounts, and here we are, in a spot I could never have fathomed years ago. Definitely could not have fathomed it when I first logged onto Bogleheads and started asking questions. I had no idea what I was doing. Always wondered who those people were who hit the millionaire status and what they did. We never made a lot of money. I'm not even comfortable using that word--millionaire--in reference to myself. So, I'm not sure how I feel. How am I supposed to feel? Another day, another dollar. But I do think it's important to celebrate milestones, and as I've not told anyone I know, I'm sharing this with all of you. Wish I could sit down with a few of you in person to reflect, and buy you all a round.
Re: Post your Financial Milestone Announcements Here
Congratulations! And thank you so much for sharing your story.angelescrest wrote: ↑Fri May 14, 2021 6:36 pm We just crossed into the seven figure space.
There is a caveat here, however. We just sold our house, and the funds cleared. I wasn't really counting our home value as a part of our net worth since it's a moving target, but we are also not going to be buying a home anytime in the next couple years. So, the is ours until we buy again. The home sale proceeds was about 15% of our net worth.
Still, adding up all the numbers across the accounts, and here we are, in a spot I could never have fathomed years ago. Definitely could not have fathomed it when I first logged onto Bogleheads and started asking questions. I had no idea what I was doing. Always wondered who those people were who hit the millionaire status and what they did. We never made a lot of money. I'm not even comfortable using that word--millionaire--in reference to myself. So, I'm not sure how I feel. How am I supposed to feel? Another day, another dollar. But I do think it's important to celebrate milestones, and as I've not told anyone I know, I'm sharing this with all of you. Wish I could sit down with a few of you in person to reflect, and buy you all a round.
You can repeat it - you are a millionaire.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
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Re: Post your Financial Milestone Announcements Here
Thank you! Thirteen years ago I had $30,000 exactly in my retirement accounts, and tons of school and housing debt from the Great Recession. If I can make it, many Americans can. But of course, this is just a step toward the goal of financial independence and enough money to provide my children a rewarding college education.Stinky wrote: ↑Fri May 14, 2021 9:11 pmCongratulations! And thank you so much for sharing your story.angelescrest wrote: ↑Fri May 14, 2021 6:36 pm We just crossed into the seven figure space.
There is a caveat here, however. We just sold our house, and the funds cleared. I wasn't really counting our home value as a part of our net worth since it's a moving target, but we are also not going to be buying a home anytime in the next couple years. So, the is ours until we buy again. The home sale proceeds was about 15% of our net worth.
Still, adding up all the numbers across the accounts, and here we are, in a spot I could never have fathomed years ago. Definitely could not have fathomed it when I first logged onto Bogleheads and started asking questions. I had no idea what I was doing. Always wondered who those people were who hit the millionaire status and what they did. We never made a lot of money. I'm not even comfortable using that word--millionaire--in reference to myself. So, I'm not sure how I feel. How am I supposed to feel? Another day, another dollar. But I do think it's important to celebrate milestones, and as I've not told anyone I know, I'm sharing this with all of you. Wish I could sit down with a few of you in person to reflect, and buy you all a round.
You can repeat it - you are a millionaire.
Re: Post your Financial Milestone Announcements Here
All is well with current assets relative to expenditures and investment returns and will remain so whether additional increases, decreases or a correction occurs during the remainder of the year.
Tim
Tim
Hello, 2 comma club
[This thread has been merged into the "Post your Financial Milestone Announcement Here" topic in the Bogleheads Community forum- Mod Misenplace.]
With yesterday's market melt up, our portfolio + cash position hit 1M+. My hands are numb as I type this, it feels completely surreal. With a generous stock market and high saving rate, it has taken us less than 10 years to get here. Just wanted to share it with the BH here - don't think it would have been possible without the education I got here. I showed the number on the spreadsheet to my wife and she just shrugged and said "that's nice."
I have experimented a lot with different funds since I started investing (active funds, sector funds, momentum funds, and most recently - the ARK ones). But one thing I have been consistent about is aggressive saving, putting that money in the market, and staying invested. Never in the last 10 years have I sold out and sat in cash. Current portfolio is 60% VTI, 30% QQQ, and 10% (ARKK+ARKF).
Excited to see what the next decade brings! I plan to keep our saving rate going and hopefully the market returns will assist in hitting 3M before I turn 50 (currently 38 y/o).
With yesterday's market melt up, our portfolio + cash position hit 1M+. My hands are numb as I type this, it feels completely surreal. With a generous stock market and high saving rate, it has taken us less than 10 years to get here. Just wanted to share it with the BH here - don't think it would have been possible without the education I got here. I showed the number on the spreadsheet to my wife and she just shrugged and said "that's nice."
I have experimented a lot with different funds since I started investing (active funds, sector funds, momentum funds, and most recently - the ARK ones). But one thing I have been consistent about is aggressive saving, putting that money in the market, and staying invested. Never in the last 10 years have I sold out and sat in cash. Current portfolio is 60% VTI, 30% QQQ, and 10% (ARKK+ARKF).
Excited to see what the next decade brings! I plan to keep our saving rate going and hopefully the market returns will assist in hitting 3M before I turn 50 (currently 38 y/o).
Last edited by vv19 on Tue May 25, 2021 9:28 am, edited 1 time in total.
Re: Hello, 2 comma club
Congratulations! In Bogleheads fashion, I'll just say be prepared for a few downs and ups. You might very well drop below that number and then back up again a couple of times depending on future market behavior. But yes, that is a huge milestone and something worth celebrating. Nice to see the process working, isn't it?
Re: Hello, 2 comma club
Indeed it is! It is pretty incredible how quickly it happened after we hit 500k. Compounding really is amazing!markjk wrote: ↑Tue May 25, 2021 9:24 am Congratulations! In Bogleheads fashion, I'll just say be prepared for a few downs and ups. You might very well drop below that number and then back up again a couple of times depending on future market behavior. But yes, that is a huge milestone and something worth celebrating. Nice to see the process working, isn't it?
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Re: Hello, 2 comma club
Congrats, you have been very fortunate. Now might be a good time to reassess your ability, willingness, and need for risk as it relates to your asset allocation.
Re: Hello, 2 comma club
Congratulations. I know this is not something you can talk about with most people, but you are welcome to talk about it here! Well done.
Re: Hello, 2 comma club
Absolutely. Slowly I am moving out of my ARK positions and putting that money in VTI. Don't see a role for bonds in my portfolio with the current rates, but I have enough cash to absorb the shocks.Randolph Mortimer wrote: ↑Tue May 25, 2021 9:38 am Congrats, you have been very fortunate. Now might be a good time to reassess your ability, willingness, and need for risk as it relates to your asset allocation.
Re: Hello, 2 comma club
Very well done in a climate of spend, spend, spend. You are very young to reach this milestones.
Of those you do tell, beware of those that would diminish you accomplishment. There are people that rate the Grand Canyon with one star. Nothing/no one is immune from the haters.
Of those you do tell, beware of those that would diminish you accomplishment. There are people that rate the Grand Canyon with one star. Nothing/no one is immune from the haters.
Re: Hello, 2 comma club
Congratulations on your accomplishment.
How many years since your first stock market investment and was it a single stock or a mutual fund, and how long since you started owning index funds?
How many years since your first stock market investment and was it a single stock or a mutual fund, and how long since you started owning index funds?
Re: Hello, 2 comma club
Congratulations and welcome!
We crossed the line sometime in the past year, although I didn't notice at the time and still couldn't quite say when without going back and doing some numbers.
We crossed the line sometime in the past year, although I didn't notice at the time and still couldn't quite say when without going back and doing some numbers.
“I am losing precious days. I am degenerating into a machine for making money. I am learning nothing in this trivial world of men. I must break away and get out into the mountains...” -- John Muir
Re: Hello, 2 comma club
Well done!
Now stop buying actively managed funds.
Now stop buying actively managed funds.
50% VTSAX | 25% VTIAX | 25% VBTLX (retirement), 25% VTEAX (taxable)
Re: Hello, 2 comma club
Thank you. We are pretty good at delayed gratification, so that certainly helps!djpeteski wrote: ↑Tue May 25, 2021 9:54 am Very well done in a climate of spend, spend, spend. You are very young to reach this milestones.
Of those you do tell, beware of those that would diminish you accomplishment. There are people that rate the Grand Canyon with one star. Nothing/no one is immune from the haters.
Re: Hello, 2 comma club
I started investing in June 2012 (opened my IRA account that month). Pretty sure the first investment was VTSAX. 80-85% of my portfolio has always been invested in index funds. Some folks would disagree on QQQ being an index fund, but that's ok.
Last edited by vv19 on Tue May 25, 2021 6:25 pm, edited 1 time in total.
- Brianmcg321
- Posts: 1874
- Joined: Mon Jul 15, 2019 8:23 am
Re: Hello, 2 comma club
Congrats. Its a great feeling of accomplishment.
After a month or two of see-sawing back and forth its starts feel more normal.
Of course my wife keeps saying "If we are millionaires, how come I don't have a brand new Tahoe yet?" LOL.
After a month or two of see-sawing back and forth its starts feel more normal.
Of course my wife keeps saying "If we are millionaires, how come I don't have a brand new Tahoe yet?" LOL.
Rules to investing: |
1. Don't lose money. |
2. Don't forget rule number 1.
Re: Hello, 2 comma club
I know that the returns are great now, but you'll be better served by passively managed index funds (including--horror of horrors--bonds) in the long run.
50% VTSAX | 25% VTIAX | 25% VBTLX (retirement), 25% VTEAX (taxable)
Re: Hello, 2 comma club
Good thing my wife is happy with her 2014 Civic.Brianmcg321 wrote: ↑Tue May 25, 2021 10:30 am Congrats. Its a great feeling of accomplishment.
After a month or two of see-sawing back and forth its starts feel more normal.
Of course my wife keeps saying "If we are millionaires, how come I don't have a brand new Tahoe yet?" LOL.
- ruralavalon
- Posts: 26297
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Re: Hello, 2 comma club
Congratulations on joining the 2 comma club
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
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Re: Post your Financial Milestone Announcements Here
Congratulations jay22! Quite an achievement at your age.
I merged your thread into the existing topic we maintain for posting milestones. Be sure to come back and post when you hit the second mil.
I merged your thread into the existing topic we maintain for posting milestones. Be sure to come back and post when you hit the second mil.
Re: Post your Financial Milestone Announcements Here
Hopefully sooner rather than later!Misenplace wrote: ↑Tue May 25, 2021 11:01 am Congratulations jay22! Quite an achievement at your age.
I merged your thread into the existing topic we maintain for posting milestones. Be sure to come back and post when you hit the second mil.
Re: Post your Financial Milestone Announcements Here
Just hit the 7 figure mark in one of our Roth accounts. It's exciting to hit that mark and it's even more exciting to think that there are NO tax obligations on the growth.
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Re: Post your Financial Milestone Announcements Here
That's amazing. In ONE of your Roth accounts? I assume you used the backdoor roth strategy, or is this just straight contributions to a roth IRA? In either case, congratulations.
The unexamined life is not worth living.
Re: Post your Financial Milestone Announcements Here
We haven't been able to contribute to our Roth accounts for about 4 years now. I've been wanting to contribute via the backdoor method but our rollover tIRA account balances are deterring us from doing it. So, the growth is primarily market growth over the years.achillesheel wrote: ↑Tue Jun 01, 2021 9:52 am
That's amazing. In ONE of your Roth accounts? I assume you used the backdoor roth strategy, or is this just straight contributions to a roth IRA? In either case, congratulations.
- ruralavalon
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Re: Post your Financial Milestone Announcements Here
Congratulations .go2run wrote: ↑Tue Jun 01, 2021 10:09 amWe haven't been able to contribute to our Roth accounts for about 4 years now. I've been wanting to contribute via the backdoor method but our rollover tIRA account balances are deterring us from doing it. So, the growth is primarily market growth over the years.achillesheel wrote: ↑Tue Jun 01, 2021 9:52 am
That's amazing. In ONE of your Roth accounts? I assume you used the backdoor roth strategy, or is this just straight contributions to a roth IRA? In either case, congratulations.
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
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Re: Post your Financial Milestone Announcements Here
Wow, congratulations! That is a home run alright!go2run wrote: ↑Tue Jun 01, 2021 10:09 amWe haven't been able to contribute to our Roth accounts for about 4 years now. I've been wanting to contribute via the backdoor method but our rollover tIRA account balances are deterring us from doing it. So, the growth is primarily market growth over the years.achillesheel wrote: ↑Tue Jun 01, 2021 9:52 am
That's amazing. In ONE of your Roth accounts? I assume you used the backdoor roth strategy, or is this just straight contributions to a roth IRA? In either case, congratulations.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
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Re: Post your Financial Milestone Announcements Here
well done ! What funds in the Roth if you don't mind sharing? Cheersgo2run wrote: ↑Tue Jun 01, 2021 10:09 amWe haven't been able to contribute to our Roth accounts for about 4 years now. I've been wanting to contribute via the backdoor method but our rollover tIRA account balances are deterring us from doing it. So, the growth is primarily market growth over the years.achillesheel wrote: ↑Tue Jun 01, 2021 9:52 am
That's amazing. In ONE of your Roth accounts? I assume you used the backdoor roth strategy, or is this just straight contributions to a roth IRA? In either case, congratulations.
“At some point you are trading time you will never get back for money you will never spend.“ |
“How do you want to spend the best remaining year of your life?“
Re: Post your Financial Milestone Announcements Here
I did have some individual stock in the account but have reallocated to VTSAX and VTIAX. It is mostly VTSAX at this point.Wannaretireearly wrote: ↑Tue Jun 01, 2021 12:35 pm
well done ! What funds in the Roth if you don't mind sharing? Cheers
Re: Post your Financial Milestone Announcements Here
A question. Is this for one milestone or more? Jus sayin
P.s VTSAX and chill
P.s VTSAX and chill
"The fund industry doesn't have a lot of heroes, but he (Bogle) is one of them," Russ Kinnel
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Re: Post your Financial Milestone Announcements Here
Thanks!go2run wrote: ↑Tue Jun 01, 2021 6:48 pmI did have some individual stock in the account but have reallocated to VTSAX and VTIAX. It is mostly VTSAX at this point.Wannaretireearly wrote: ↑Tue Jun 01, 2021 12:35 pm
well done ! What funds in the Roth if you don't mind sharing? Cheers
“At some point you are trading time you will never get back for money you will never spend.“ |
“How do you want to spend the best remaining year of your life?“
Re: Post your Financial Milestone Announcements Here
At market close today finally crossed the 2 million net worth milestone today. I forgot to post when I passed the 500k and 1 million milestones so I'll make up for it today. We rent so all of our net worth is either in brokerage or retirement accounts.
I finished my last year of medical training in 2014 and had a net worth of negative 25k. I had been diligent in saving during residency and it helped to keep my debt low, but I knew nothing about diversified investing. I found this forum in 2014 and it really helped me to formulate a simple automated investing strategy and I am so thankful for all the investing knowledge shared in this forum. I decided on a simple 4 fund portfolio which has had the same asset allocation since I started index investing in 2014. This really helped me to stay the course, especially during turbulent times such as last year.
VTI 50%
VXUS 25%
VNQ 12.5%
BND 12.5%
We passed the 500k net worth milestone July 2017, and passed our 1 million milestone for the first time in April 2019. So 3 years to 500k, 2 more years for 1 million, then an additional 2 years for 2 million. We couldn't have done it without all the help on this forum. Thank you.
At age 37 we are close to 25X expenses saved, so now we are needing to decide when enough is enough. Maybe at the 3 million milestone.
I finished my last year of medical training in 2014 and had a net worth of negative 25k. I had been diligent in saving during residency and it helped to keep my debt low, but I knew nothing about diversified investing. I found this forum in 2014 and it really helped me to formulate a simple automated investing strategy and I am so thankful for all the investing knowledge shared in this forum. I decided on a simple 4 fund portfolio which has had the same asset allocation since I started index investing in 2014. This really helped me to stay the course, especially during turbulent times such as last year.
VTI 50%
VXUS 25%
VNQ 12.5%
BND 12.5%
We passed the 500k net worth milestone July 2017, and passed our 1 million milestone for the first time in April 2019. So 3 years to 500k, 2 more years for 1 million, then an additional 2 years for 2 million. We couldn't have done it without all the help on this forum. Thank you.
At age 37 we are close to 25X expenses saved, so now we are needing to decide when enough is enough. Maybe at the 3 million milestone.
Re: Post your Financial Milestone Announcements Here
Congratulations! About 7 years of practice and knocking on the door of financial independence. Sounds like your student loan burden was very manageable. What percentage of your gross have you saved every year? Is your partner a physician as well?DarkNyte wrote: ↑Wed Jun 02, 2021 4:11 pm At market close today finally crossed the 2 million net worth milestone today. I forgot to post when I passed the 500k and 1 million milestones so I'll make up for it today. We rent so all of our net worth is either in brokerage or retirement accounts.
I finished my last year of medical training in 2014 and had a net worth of negative 25k. I had been diligent in saving during residency and it helped to keep my debt low, but I knew nothing about diversified investing. I found this forum in 2014 and it really helped me to formulate a simple automated investing strategy and I am so thankful for all the investing knowledge shared in this forum. I decided on a simple 4 fund portfolio which has had the same asset allocation since I started index investing in 2014. This really helped me to stay the course, especially during turbulent times such as last year.
VTI 50%
VXUS 25%
VNQ 12.5%
BND 12.5%
We passed the 500k net worth milestone July 2017, and passed our 1 million milestone for the first time in April 2019. So 3 years to 500k, 2 more years for 1 million, then an additional 2 years for 2 million. We couldn't have done it without all the help on this forum. Thank you.
At age 37 we are close to 25X expenses saved, so now we are needing to decide when enough is enough. Maybe at the 3 million milestone.
I finished training in 2018 at the age of 32. Hoping to hit FI in 3-4 years, and very, very comfortable FI in 5-6. Time flies.
Re: Post your Financial Milestone Announcements Here
Our savings rate ramped up once my student loan debt and car debt was completed paid off, which was middle of 2016. After that our savings rate is 55 to 60% gross income, taxes 20%, and the remaining 20% for living expenses. We live in a VHCOL area in Southern California, so we could have saved more if we lived somewhere else, but we like where we are now. My wife is a stay at home mom for our two children. She recently started working part time for our church, but it's only around 10K a year, so 99% of all of the savings has come from one income.calvin+hobbes wrote: ↑Wed Jun 02, 2021 7:37 pmCongratulations! About 7 years of practice and knocking on the door of financial independence. Sounds like your student loan burden was very manageable. What percentage of your gross have you saved every year? Is your partner a physician as well?DarkNyte wrote: ↑Wed Jun 02, 2021 4:11 pm At market close today finally crossed the 2 million net worth milestone today. I forgot to post when I passed the 500k and 1 million milestones so I'll make up for it today. We rent so all of our net worth is either in brokerage or retirement accounts.
I finished my last year of medical training in 2014 and had a net worth of negative 25k. I had been diligent in saving during residency and it helped to keep my debt low, but I knew nothing about diversified investing. I found this forum in 2014 and it really helped me to formulate a simple automated investing strategy and I am so thankful for all the investing knowledge shared in this forum. I decided on a simple 4 fund portfolio which has had the same asset allocation since I started index investing in 2014. This really helped me to stay the course, especially during turbulent times such as last year.
VTI 50%
VXUS 25%
VNQ 12.5%
BND 12.5%
We passed the 500k net worth milestone July 2017, and passed our 1 million milestone for the first time in April 2019. So 3 years to 500k, 2 more years for 1 million, then an additional 2 years for 2 million. We couldn't have done it without all the help on this forum. Thank you.
At age 37 we are close to 25X expenses saved, so now we are needing to decide when enough is enough. Maybe at the 3 million milestone.
I finished training in 2018 at the age of 32. Hoping to hit FI in 3-4 years, and very, very comfortable FI in 5-6. Time flies.
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- Posts: 180
- Joined: Tue Feb 18, 2020 8:19 am
Re: Post your Financial Milestone Announcements Here
34.
Own out right two SFH rentals, worth around 300k on market combined. Around 20k cash flow per year from them
Own my house which is under contract though, sister bought so I didn't sell for profit. Break even and will get my 125k back. Big nice house but hurricane Issac flooded it out so bought for next to nothing, renovated and lived note free for 4 years. Worth 240ish on market now. (sister in good shape going forward)
Just bought another house for myself on mortgage. 20% down @ 250k price
Hit 550K in 401k. Salary around 150k yr OT depending
All in all including the equity in my new house, Worth around 1m.
Own out right two SFH rentals, worth around 300k on market combined. Around 20k cash flow per year from them
Own my house which is under contract though, sister bought so I didn't sell for profit. Break even and will get my 125k back. Big nice house but hurricane Issac flooded it out so bought for next to nothing, renovated and lived note free for 4 years. Worth 240ish on market now. (sister in good shape going forward)
Just bought another house for myself on mortgage. 20% down @ 250k price
Hit 550K in 401k. Salary around 150k yr OT depending
All in all including the equity in my new house, Worth around 1m.