Post your Financial Milestone Announcements Here

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menlo
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Re: moderate income, high net assets, one way to get there

Post by menlo » Sat Jan 27, 2018 4:26 pm

Congratulations. You've worked hard, made wise decisions, stayed the course, and have had good fortune. You have a lot to be thankful for and can be proud of a very nice accomplishment.

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LadyGeek
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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Sat Jan 27, 2018 4:38 pm

Traveler - I merged your thread into here.

tknelson, Welcome!
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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Sat Jan 27, 2018 4:41 pm

Cipro - I merged your thread into here.
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.

NextMil
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Re: Can I be a member of the two comma club?

Post by NextMil » Sat Jan 27, 2018 6:22 pm

Lastrun wrote:
Sat Jan 27, 2018 4:05 pm
NextMil wrote:
Sat Jan 27, 2018 3:51 pm
It’s absurd that anyone would suggest that home equity does not count towards net worth. Unless, of course, they are making up their own rules.
I think absurd, respectfully, it too strong a word, as is the phrase making up their own rules. There is support for this in the definition of "accredited investor" for purposes of federal securities laws. Under that definition for net worth purposes, the amount is $1.0 million and excludes home equity. A change made recently by Dodd-Frank. So the investable versus home equity distinction is real in the investment world.

Enough of my rant because fundamentally I agree with you and offer congrats to the OP for the milestone.
Not going to argue on the internet, but this seems entirely silly. 1. So an abscure provision in Dodd frank related to someone’s ability to get in on a sketchy deal. 2. It’s very well known the standard definition is assets minus liabilities. 3. Accredited investor may equal 1m net worth, but there is a lot of ways to get there. 4. Dodd-frank. Again, absurd.

spammagnet
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Re: Post your Financial Milestone Announcements Here

Post by spammagnet » Sat Jan 27, 2018 8:38 pm

cinghiale wrote:
Wed Jan 10, 2018 3:32 am
... with the shuddering realization that the seed corn is being eaten ...
That's a great analogy.

MrNewEngland
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Re: Can I be a member of the two comma club?

Post by MrNewEngland » Sat Jan 27, 2018 8:42 pm

OldSport wrote:
Sat Jan 27, 2018 1:03 am
Nearing_Destination wrote:
Fri Jan 26, 2018 6:49 pm
alas, some of us only consider “millionaires “ when we’ve got that in “investable assets “ of which home equity is not included (many, many threads on that)


but congrats on the milestone
OP is a millionaire. Home equity counts toward net worth. I worked very hard to get a proper 20% down payment when I bought my house. I am absolutely counting that. Real estate is an asset. Having a million in investable assets is another milestone for sure.

I agree with this 100%. I don’t understand the idea that home equity isn’t part of your net worth.

About 3 months ago I sold my house and moved into a rental I have. I took the money from the sale of the house and put it towards paying down the rental and refinanced so I’d have a low payment.

Would my net worth have been higher if I kept the mortgage and put the money in CDs? No.

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Re: Can I be a member of the two comma club?

Post by MrNewEngland » Sat Jan 27, 2018 8:44 pm

MrNewEngland wrote:
Sat Jan 27, 2018 8:42 pm
OldSport wrote:
Sat Jan 27, 2018 1:03 am
Nearing_Destination wrote:
Fri Jan 26, 2018 6:49 pm
alas, some of us only consider “millionaires “ when we’ve got that in “investable assets “ of which home equity is not included (many, many threads on that)


but congrats on the milestone
OP is a millionaire. Home equity counts toward net worth. I worked very hard to get a proper 20% down payment when I bought my house. I am absolutely counting that. Real estate is an asset. Having a million in investable assets is another milestone for sure.

I agree with this 100%. I don’t understand the idea that home equity isn’t part of your net worth.

About 3 months ago I sold my house and moved into a rental I have. I took the money from the sale of the house and put it towards paying down the rental and refinanced so I’d have a low payment.

Would my net worth have been higher if I kept the mortgage and put the money in CDs? No.

Or if I had never bought the house or condo... now my housing payment would be more than double what it is right now and I wouldn’t have the slightly more than $100k in equity on the condo.

Silverado
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Re: Post your Financial Milestone Announcements Here

Post by Silverado » Sun Jan 28, 2018 10:51 am

Thanks to the early 2018 increases, we are now showing $1M in just US equity funds. Right about 94% is in index funds, the remaining 6% is in a legacy small company tech fund. Stopped new money years ago, but it continues to be on a strong upward climg. ER in 0.8% so could be worse.

I had noticed a couple months ago that we would likely be hitting this unimportant milestone, so I have kept a closer eye on just that value recently. I have another value in mind for our bond part that is still a few years away.

I'm one who never uses home equity in 'our worth' calculations. We have moved around a lot and our house (paid off) feels like a liability and just a money sink. For true accounting, sure I'd include it, but I don't see a need to be any more formal. I don't perticipate in net worth discussions, so it my rules have no impact on anything.

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Sandtrap
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Re: Post your Financial Milestone Announcements Here

Post by Sandtrap » Sun Jan 28, 2018 10:55 am

Silverado wrote:
Sun Jan 28, 2018 10:51 am
Thanks to the early 2018 increases, we are now showing $1M in just US equity funds. Right about 94% is in index funds, the remaining 6% is in a legacy small company tech fund. Stopped new money years ago, but it continues to be on a strong upward climg. ER in 0.8% so could be worse.

I had noticed a couple months ago that we would likely be hitting this unimportant milestone, so I have kept a closer eye on just that value recently. I have another value in mind for our bond part that is still a few years away.

I'm one who never uses home equity in 'our worth' calculations. We have moved around a lot and our house (paid off) feels like a liability and just a money sink. For true accounting, sure I'd include it, but I don't see a need to be any more formal. I don't perticipate in net worth discussions, so it my rules have no impact on anything.
Good job.
Congratulations!
:sharebeer

TXWill
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Re: moderate income, high net assets, one way to get there

Post by TXWill » Sun Jan 28, 2018 5:40 pm

Good on you!

Kill debt, LBYM, work long and hard, save and invest, stay the course and freedom is yours!

Well done!

TwstdSista
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Re: moderate income, high net assets, one way to get there

Post by TwstdSista » Sun Jan 28, 2018 5:58 pm

Wow -- You are an inspiration! Thank you for this post, and for the reminder that "there are many roads...."

MrNewEngland
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Re: Can I be a member of the two comma club?

Post by MrNewEngland » Sun Jan 28, 2018 6:01 pm

MrNewEngland wrote:
Sat Jan 27, 2018 8:44 pm
MrNewEngland wrote:
Sat Jan 27, 2018 8:42 pm
OldSport wrote:
Sat Jan 27, 2018 1:03 am
Nearing_Destination wrote:
Fri Jan 26, 2018 6:49 pm
alas, some of us only consider “millionaires “ when we’ve got that in “investable assets “ of which home equity is not included (many, many threads on that)


but congrats on the milestone
OP is a millionaire. Home equity counts toward net worth. I worked very hard to get a proper 20% down payment when I bought my house. I am absolutely counting that. Real estate is an asset. Having a million in investable assets is another milestone for sure.

I agree with this 100%. I don’t understand the idea that home equity isn’t part of your net worth.

About 3 months ago I sold my house and moved into a rental I have. I took the money from the sale of the house and put it towards paying down the rental and refinanced so I’d have a low payment.

Would my net worth have been higher if I kept the mortgage and put the money in CDs? No.

Or if I had never bought the house or condo... now my housing payment would be more than double what it is right now and I wouldn’t have the slightly more than $100k in equity on the condo.
Or what if I took the maximum out of my HELOC? Would I suddenly be $50k richer?

BV3273
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Re: moderate income, high net assets, one way to get there

Post by BV3273 » Sun Jan 28, 2018 6:08 pm

As others have said very inspirational.

I read a quote a few years back that has stuck with me “It’s not what you make, but what you save.”

akron1977
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Re: Post your Financial Milestone Announcements Here

Post by akron1977 » Sun Jan 28, 2018 6:21 pm

Recently hit $750,000 in retirement assets---DH retired a little over 4 years ago and never made 6 figures; I've been a SAHM for the past 25 years. Our youngest still had two years of college left at retirement--the other 3 were out with no debt. Still not taking SS and no pension---retirement income has been withdrawals from retirement savings---which are still 14% higher now than at retirement. DH will start SS at age 70, a little over two years from now and still undecided if I wait until 70 or start at FRA (66 and 2 months). I have used this forum for advice several times, and check in regularly---and am passing on the knowledge gleaned here to our four daughters as they begin careers/family life. ROTH conversion for 2017, and looking to substantially increase those in the next two years---would max out the 22% bracket but need to stay under the Medicare limits. So glad I found these forums!

DocSleepy72
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Re: Post your Financial Milestone Announcements Here

Post by DocSleepy72 » Sun Jan 28, 2018 7:04 pm

My wife and I have accumulated enough wealth that I felt mostly comfortable signing up for a monthly membership at the local car wash today (basic carwash only). :D

spammagnet
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Re: Post your Financial Milestone Announcements Here

Post by spammagnet » Sun Jan 28, 2018 8:01 pm

DocSleepy72 wrote:
Sun Jan 28, 2018 7:04 pm
My wife and I have accumulated enough wealth that I felt mostly comfortable signing up for a monthly membership at the local car wash today (basic carwash only). :D
(emphasis added)

I suspect that somewhere in the back of your mind there's a voice telling you that your choice is not frugal. A true BH would wash it themselves, if willing to waste the water. Or would that be an MMM disciple? <smile>

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LadyGeek
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Re: moderate income, high net assets, one way to get there

Post by LadyGeek » Sun Jan 28, 2018 10:58 pm

I merged rob in cal's thread into here. From Page 3:
rob in cal wrote:
Sat Jan 27, 2018 1:09 pm
I've been analyzing how my wife and I have achieved a pretty high asset level (by US standards, not necessarily bogleheads) and there were a few key steps for us. I've been working as a full time (actually down to about 30 hours now, my wife works another 7 hours per week also) pizza, pasta, grill food delivery driver.
Step one, get a little lucky with our home purchase. We bought in Sacramento area in 1998, literally months before the great housing boom took off.
The fairly low purchase price allowed us to pay over 20% down, and then we poured all of our savings into mortgage destruction, achieved in 2004. From 2004 not having a mortgage allowed us to put that much more of our income into investments.
Step two, live modestly. We've never adjusted our lifestyle too much base on our income, so overall savings levels are retained year in year out, with some variance due to kids getting older, working a little less etc.
Step three, work a little extra for while. For several years I worked 6 dinner shifts and 5 lunch shifts delivering food at the restaurant we work at. I view that sixth night a week that I worked as the part time job I used to have. Doing that for six years in the early 2000's and investing all that extra money I made, is equal, with investing and compounding, to maybe 100 k today.
Step four, regular investing. Since 2004 I've been putting money into different things (there was my whole Prosper fixation of 2005-2008), but mostly since 2008, into first a share of ownership at the restaurant we work at (which has created a nice little income stream since 2010) and then into my vanguard index funds.
Over the last five years or so I've finally seen all this work really come to fruition, as I put restaurant ownership dividends straight into my index funds, in addition to regular income savings, so that my index funds are exploding because of that and high returns.
Step five, a modest inheritance that we also put into savings. It was helpful, and probably accounts for about 10% of our total assets.
The crazy thing about all this was that for much of the time my wife was a stay at home mom, and she only helps out at the restaurant very part time. Oh, and I suppose the other crazy thing is that I've been delivery driver for all this time, and that is often considered, as my daughter humourously puts it, "a college students job".
Would like to hear from others about how they've achived high assets with modest annual income.
FYI - Several threads are merged into here. Look at the individual post's title (top-left corner) to see where the post came from.
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.

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mickeyd
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Re: Post your Financial Milestone Announcements Here

Post by mickeyd » Mon Jan 29, 2018 5:07 pm

I once again fell way short of membership in the 3 comma club. I have a feeling that 2018 may get me over the top.
Part-Owner of Texas | | “The CMH-the Cost Matters Hypothesis -is all that is needed to explain why indexing must and will work… Yes, it is that simple.” John C. Bogle

bartio
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Re: Post your Financial Milestone Announcements Here

Post by bartio » Thu Feb 01, 2018 6:26 pm

It'd be great to hear age and any past milestones at the respective ages. It'd serve as a yardstick and a measure for some of us yearning to be where you are :-) I always wonder if my early years being a spendthrift would have been different by now if I was financially disciplined then!

I'm 42, with 3 kids 10,6,1 and my wife SAHM for last two years but soon to start looking for a job. Entering two comma club before I hit 45 will be great achievement for me. Started being debt free from 2004 when I was 29 and been frugal since then. We are at 750 K right now with home equity.

schachtw
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Re: Post your Financial Milestone Announcements Here

Post by schachtw » Thu Feb 01, 2018 8:04 pm

I’m only comfortable posting something like this on the forum.

2017 saw my wife and I hit the 5M mark. Our son and daughter-in-law are expecting soon, we’ll do our best to spoil them (within reason of course)!

We feel very fortunate.

heyyou
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Re: Post your Financial Milestone Announcements Here

Post by heyyou » Thu Feb 01, 2018 10:00 pm

This is more of a mile-pebble instead of a -stone.
Been retired 4480 days, including the best years of my life. The portfolio is worth more than when we retired, so we continue to think that we have enough. We are grateful for Mr. Bogle choosing to offer the first public index fund, since index fund investing was our path to retirement.

lostdog
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Re: Post your Financial Milestone Announcements Here

Post by lostdog » Fri Feb 02, 2018 9:24 am

stemikger wrote:
Tue Jan 16, 2018 5:40 am
O.K. This new thread made me want to check.

Due to market highs I am now at 710K. My house is in the New York area (Staten Island) and every day in the S.I. Advance they keep reporting on the affordability crisis due to how high the housing market is.

My house I bought brand new in 1993 for $134K is now worth over $500K. So with no mortgage and no other debt, I am a net worth millionaire. Yeah!!

For the record, I'm 53 and my number is $1 million.

Good Luck to everyone who is heading toward their dream of becoming financially independent!
Grats Stemikger. :sharebeer

I enjoy reading your posts.
Hear the clock ticking? That’s your life flying by while you listen to market pundits and watch stock prices fluctuate. -Humble Dollar

TwstdSista
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Re: Post your Financial Milestone Announcements Here

Post by TwstdSista » Sat Feb 03, 2018 7:47 am

Small milestone here. After a few mis-steps back in November and finally putting together an IPS, the husband and I are now officially 3 fund portfolio converts. I have also contributed to my 2017 Roth IRA and partially contributed to the husband's 2017 Roth with plans to fully contribute before tax day. Everything is invested according to our IPS.

Phew! Still a couple of small housekeeping issues to address before the end of the month, but we are on the right path for us. I thank this forum and the combined knowledge of countless posters who willingly provide free financial advice.

BeautifulDisaster
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Excited about a milestone!

Post by BeautifulDisaster » Fri Feb 09, 2018 10:37 am

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

Hey! I feel like I should be proud of myself for this!

I did some math today after I paid my last tuition bill for my M.B.A and realized that I only paid $2,000 out of my own pocket for my undergraduate degree and masters degree!!

A lot of late nights of missing parties to fill out scholarships in my undergrad and choosing to be an resident assistant for the free housing helped a lot! For my grad program, the company i work for footed a big chunk of the bill!

:beer

johnz1001
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Re: Excited about a milestone!

Post by johnz1001 » Fri Feb 09, 2018 10:43 am

That's thinking ahead right there. I did something similar coming out of grad school in the green rather than the red. A lot has to do with available scholarships, making use of resources (resident assistant, for example), lots of dedication, and some luck. You deserve some congratulations.

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Sandtrap
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Re: Excited about a milestone!

Post by Sandtrap » Fri Feb 09, 2018 10:44 am

Congratulations on your hard work and sticking to a plan for that long.
Onward. . . . to great things. . .
:sharebeer
j :D

ybdam
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Re: Excited about a milestone!

Post by ybdam » Fri Feb 09, 2018 10:50 am

BeautifulDisaster wrote:
Fri Feb 09, 2018 10:37 am
Hey! I feel like I should be proud of myself for this!

I did some math today after I paid my last tuition bill for my M.B.A and realized that I only paid $2,000 out of my own pocket for my undergraduate degree and masters degree!!

A lot of late nights of missing parties to fill out scholarships in my undergrad and choosing to be an resident assistant for the free housing helped a lot! For my grad program, the company i work for footed a big chunk of the bill!

:beer
Congratulations! You should definitely be proud of yourself. :beer
Last edited by ybdam on Fri Feb 09, 2018 11:48 am, edited 1 time in total.

jlcnuke
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Re: Excited about a milestone!

Post by jlcnuke » Fri Feb 09, 2018 11:07 am

Congrats!

kalrocmk
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Re: Excited about a milestone!

Post by kalrocmk » Fri Feb 09, 2018 12:07 pm

:sharebeer

Congratulations! that is no small achievement.
Just trying to make a living

gotester2000
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Re: Excited about a milestone!

Post by gotester2000 » Fri Feb 09, 2018 1:20 pm

Congratulations - enjoy life but dont be complacent - stay the course.

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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Fri Feb 09, 2018 2:52 pm

I merged BeautifulDisaster's thread into here.

The amount of your milestone doesn't matter. If you've achieved something good, brag away.

TwstdSista and BeautifulDisaster, Congrats!
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.

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unclescrooge
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Re: Post your Financial Milestone Announcements Here

Post by unclescrooge » Fri Feb 09, 2018 3:18 pm

White Coat Investor wrote:
Tue Jan 09, 2018 2:34 am
But our most significant milestone for 2017 and the one we're most proud of was giving away more than we spent.
Truly, quite an achievement!

Congrats!!!

I will add this to my list of goals. Sadly, I'm many years away from this, partly as I live in a VHCOL area.

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zTurtle
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Re: Post your Financial Milestone Announcements Here

Post by zTurtle » Mon Feb 12, 2018 4:01 pm

Milestone: first (and probably last) Two Comma transaction! $1,000,000 into Balanced Index fund today, submitted on my iPhone. :D this is my first post but I’ve spent many hours here researching before making this big decision. Thank you Bogleheads!

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meowcat
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Re: Post your Financial Milestone Announcements Here

Post by meowcat » Thu Feb 22, 2018 1:57 pm

Hi, Bogleheads.
First, let me start off by saying that I have been saving in a 401K since I was 23. My DW has done the same since I met her 23 years ago. Together, we earn a decent living but neither of us has ever earned a six figure salary. I'm 54, my Wife, 52. Back in 2001 we bought too much house in South Florida. We struggled with that house for 16 years and it literally made us "poor". Although we struggled, we never stopped contributing to our 401k's. That's important, because at the peak of the market in January, this year, our net worth hit $511,000. Now, I don't know if that's good for our age or not, but I think it should be more. Our calculations tell us that if we keep doing what we are doing, we should hit 25X expenses before we hit 67, our FRA. The funny thing is, I'm not really looking at it as a milestone. Nothing changed except that I walk with a little more purpose and confidence these days.
More people should learn to tell their dollars where to go instead of asking them where they went. | -Roger Babson

TwstdSista
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Re: Post your Financial Milestone Announcements Here

Post by TwstdSista » Thu Feb 22, 2018 5:38 pm

^ Great job Meowcat! whether or not you should have more? Meh, you can always have more. But you simply may have enough, which is fantastic!

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welderwannabe
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Two Comma Club

Post by welderwannabe » Thu Feb 22, 2018 7:32 pm

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

Wife and I just recently hit the two comma club. We have been there for a couple years including our house, but we just hit it for just our investments. Been a long slog and lots of savings but we finally made it. We are in our early forties. Can't tell anyone else, so I had to share here.

:beer
I am not an investment professional, but I did stay at a Holiday Inn Express last night.

PFInterest
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Re: Two Comma Club

Post by PFInterest » Thu Feb 22, 2018 7:33 pm

:sharebeer

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Strayshot
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Re: Two Comma Club

Post by Strayshot » Thu Feb 22, 2018 7:34 pm

Congrats and welcome to the club, there is a dedicated thread for these types of announcements and mods can merge them.

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CyclingDuo
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Re: Two Comma Club

Post by CyclingDuo » Thu Feb 22, 2018 7:54 pm

welderwannabe wrote:
Thu Feb 22, 2018 7:32 pm
Wife and I just recently hit the two comma club. We have been there for a couple years including our house, but we just hit it for just our investments. Been a long slog and lots of savings but we finally made it. We are in our early forties. Can't tell anyone else, so I had to share here.

:beer
Congrats!

Good time to read up on the portfolio size effect...

https://www.kitces.com/blog/managing-po ... -red-zone/
"Everywhere is within walking distance if you have the time." ~ Steven Wright

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DanMahowny
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Re: Two Comma Club

Post by DanMahowny » Thu Feb 22, 2018 7:57 pm

Congrats welderwannabe and wife!

It's a special day that you'll always remember.
Funding secured

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fishandgolf
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Re: Two Comma Club

Post by fishandgolf » Thu Feb 22, 2018 7:57 pm

:sharebeer Congratulations welderwannabe.......welcome to the club...... :sharebeer

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samsoes
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Re: Two Comma Club

Post by samsoes » Thu Feb 22, 2018 8:01 pm

Congratulations! Remember, you'll likely drop below and above $1M a few times in the short term due to market fluctuations, but you're still a member of the club. :beer
"Happiness Is Not My Companion" - Gen. Gouverneur K. Warren. | (Avatar is the statue of Gen. Warren atop Little Round Top @ Gettysburg National Military Park.)

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jimmyq
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Re: Two Comma Club

Post by jimmyq » Thu Feb 22, 2018 8:04 pm

Congrats welderwannabe!
Now start working on that 3rd comma. That one's gonna be just a little more challenging.

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welderwannabe
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Re: Two Comma Club

Post by welderwannabe » Thu Feb 22, 2018 8:11 pm

CyclingDuo wrote:
Thu Feb 22, 2018 7:54 pm
Good time to read up on the portfolio size effect...

https://www.kitces.com/blog/managing-po ... -red-zone/
Interesting article. I will have to read it in more depth tomorrow. Thanks for sharing.
I am not an investment professional, but I did stay at a Holiday Inn Express last night.

jminv
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Re: Two Comma Club

Post by jminv » Thu Feb 22, 2018 8:21 pm

Congrats, feels great doesn't it!

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randomizer
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Re: Two Comma Club

Post by randomizer » Thu Feb 22, 2018 8:22 pm

So with the recent correction, did you join the club, leave it, and then join it again?
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cfs
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Re: Two Comma Club

Post by cfs » Thu Feb 22, 2018 8:29 pm

What happened to the omnibus thread [the one used to announce milestones]? Was that one closed? Good luck y gracias por leer ~cfs~
~ Member of the Active Retired Force since 2014 ~

DavidW
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Re: Two Comma Club

Post by DavidW » Thu Feb 22, 2018 8:56 pm

welderwannabe wrote:
Thu Feb 22, 2018 7:32 pm
Can't tell anyone else, so I had to share here.

:beer
Isn't that the irony. This is something we worked so hard everyday and being diligent yet we can't share or celebrate with friends.... I am glad a forum like this exist for like minded folks....

aristotelian
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Re: Two Comma Club

Post by aristotelian » Thu Feb 22, 2018 9:01 pm

randomizer wrote:
Thu Feb 22, 2018 8:22 pm
So with the recent correction, did you join the club, leave it, and then join it again?
That was me. I was in the club for about 48 hours.

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LadyGeek
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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek » Thu Feb 22, 2018 9:06 pm

I merged welderwannabe's thread into here. Congrats! Brag away, that's what we're here for.
cfs wrote:
Thu Feb 22, 2018 8:29 pm
What happened to the omnibus thread [the one used to announce milestones]? Was that one closed? Good luck y gracias por leer ~cfs~
The thread is hiding as a sticky at the top of the Local Chapters and Bogleheads Community forum.
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.

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