Post your Financial Milestone Announcements Here

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Sandtrap
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Re: Post your Financial Milestone Announcements Here

Post by Sandtrap » Tue Jan 16, 2018 1:19 am

Mel Lindauer wrote:
Mon Jan 15, 2018 12:10 am
I just passed the 20-years-in-retirement mark in Dec. and am still able to enjoy the good life (no dog food on the menu in the foreseeable future).

Busier now than when I ran my business. And the business I founded just celebrated its 50th birthday while also celebrating the 20-year mark under the leadership of my two sons, who took over after my early retirement.

Life is good!
Congratulations!
:sharebeer
j :D
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EnjoyIt
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Re: Post your Financial Milestone Announcements Here

Post by EnjoyIt » Tue Jan 16, 2018 1:21 am

Sandtrap wrote:
Wed Jan 10, 2018 10:15 pm
Toons wrote:
Wed Jan 10, 2018 3:35 pm
To quote Bob Brinker,
My spouse and I are in the ,
"Land Of Critical Mass",and have been so for quite a while.
Keeping debt to a bare minimum,investing frequently(reinvesting)got us there.
Count Our Blessings Every Day.
:happy
If you will. . . what is the "Land of Critical Mass"?
Never heard that before. . .

mahalo,
j :D
I believe "Land of Critical Mass" means that your investments do not need any further contributions. Growth should get the portfolio where it needs to be prior to retirement.

Our biggest milestone is knowing that if we cut our spending slightly we can retire today. That is an amazing feeling. It also means that we can go part time right now and let our investments grow on their own (Land of Critical Mass.) Current plan is to go part time at the end of 2018 baring some catastrophic event or a market correction that would make me want to work and contribute more while equities are on sale.

bantam222
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Re: Post your Financial Milestone Announcements Here

Post by bantam222 » Tue Jan 16, 2018 1:49 am

Does anyone struggle with not being able to share their financial achievement or swings with anyone else? I am pushing 500k and feel like I can’t tell anyone. I don’t feel comfortable telling my family as most people cannot handle large amounts of money.

It can be a weird feeling getting beers with a friend after work and knowing your net worth increased more today in the stock market than their total net worth is.

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stemikger
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Re: Post your Financial Milestone Announcements Here

Post by stemikger » Tue Jan 16, 2018 5:37 am

bantam222 wrote:
Tue Jan 16, 2018 1:49 am
Does anyone struggle with not being able to share their financial achievement or swings with anyone else? I am pushing 500k and feel like I can’t tell anyone. I don’t feel comfortable telling my family as most people cannot handle large amounts of money.

It can be a weird feeling getting beers with a friend after work and knowing your net worth increased more today in the stock market than their total net worth is.
Yeah, unless your friend and family member has the Boglehead type mentality, I think it will be best to keep it to yourself.

However, that is what this forum is for. You can be as free as a bird when it comes to your financial success.

Congrats on becoming half a millionaire!
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

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stemikger
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Re: Post your Financial Milestone Announcements Here

Post by stemikger » 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!
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

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Sandtrap
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Re: Post your Financial Milestone Announcements Here

Post by Sandtrap » Tue Jan 16, 2018 11:05 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!
Congratulations :sharebeer
Next stop. . . 2 comma in the market?

j :D
Wiki Bogleheads Wiki: Everything You Need to Know

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stemikger
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Re: Post your Financial Milestone Announcements Here

Post by stemikger » Tue Jan 16, 2018 4:25 pm

Sandtrap wrote:
Tue Jan 16, 2018 11:05 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!
Congratulations :sharebeer
Next stop. . . 2 comma in the market?

j :D
Thank you!! :beer
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

Chadnudj
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Re: Post your Financial Milestone Announcements Here

Post by Chadnudj » Tue Jan 16, 2018 5:32 pm

A few come to mind:

1. Net worth about to pass $500k (it probably already has passed that if I counted primary home equity, but I keep primary home equity at purchase price). Market setbacks are unlikely to derail that, too, as new contributions/paychecks/debt paydowns/upcoming employer matches and profit shares to 401ks are more than likely to offset any market losses. So within the next 30 days we should join the....1 and a half comma club?

2. Liquid, non-retirement assets (savings, checking, emergency funds, and taxable accounts) at over $100k. Believe me, this helps me sleep well at night, even as I continue to build this higher.

3. Spouse was able to take 6 months maternity leave after our 2nd son was born with (minimal) impact to our finances, thanks in large part to saving a chunk of money in advance for precisely this reason.

4. Got our estate plan put into place (well, there's a few things still to do in terms of officially funding it, but it's all progressing along). Unfortunately, a recent family tragedy put into stark relief how important this one is, so I'm glad it's taken care of/being taken care of.

5. Finally, after dragging our feet a bit, we set it up so that 2018 will be the year we finally max both of our 401ks. I've always maxed mine, but cash flow/more immediate needs dictated we didn't max my spouse's (although we did do above and beyond what was necessary to get any match)...but now, we feel comfortable enough financially to max both, which will really help us turbocharge things going forward (we actually got a jump towards this in 2017, by setting my spouse's 401k contributions to the level that would max it out over a year in August...now we're used to making the cashflow work, so it should be smooth sailing in 2018, hopefully).

vested1
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Re: Post your Financial Milestone Announcements Here

Post by vested1 » Wed Jan 17, 2018 6:49 pm

New member of the 2 comma club in retirement savings here, as of today's close. I never thought this would happen due to taking withdrawals while delaying SS. We begin SS in July of this year, which will lower withdrawals to around 3% until RMD's. SS benefits will increase by about 30k in 4.5 years.

From the date we started withdrawals almost 2 years ago in March of 2016, to today, we should have $780,609 remaining in the portfolio (if there was zero gain). Instead there is $1,001,122, entirely due to $220,513 gain in a four fund indexed 60/40 portfolio at VG. Funds withdrawn from savings to fund the SS delay were not invested. Distributed dividends should fund the future portfolio withdrawals to fund SS delay until my age 70.

Thank you all for your golden advice.

SteveKnox6
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Re: Post your Financial Milestone Announcements Here

Post by SteveKnox6 » Wed Jan 17, 2018 7:48 pm

2017 was a great year for me. Got married and went on a dream honeymoon as well as paid off my wife’s student loans to the sum of $120k. She started her career and we are both maxing out our 401k’s and Roth IRA’s at age 27. We only have about $100k in our retirement assets but we also set up our Emergency Fund and got our finances in order.

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Mlm
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Re: Post your Financial Milestone Announcements Here

Post by Mlm » Wed Jan 17, 2018 7:59 pm

Congratulations to everyone :sharebeer

I first posted here a year and a half ago and was so worried at that time due to an unexpected job loss. viewtopic.php?f=1&t=192652

I decided to retire at that time and continue to be frugal. I paid off my car loan and have been living off of a small pension + dividends from my taxable account. I'm going to let SS grow for a few more years.

I checked today and I have $906K in investments plus my house $130K .Thank you to all those that encouraged me when I needed it.

I feel like a MILLIONAIRE !

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Re: Post your Financial Milestone Announcements Here

Post by White Coat Investor » Wed Jan 17, 2018 8:57 pm

Mlm wrote:
Wed Jan 17, 2018 7:59 pm
Congratulations to everyone :sharebeer

I first posted here a year and a half ago and was so worried at that time due to an unexpected job loss. viewtopic.php?f=1&t=192652

I decided to retire at that time and continue to be frugal. I paid off my car loan and have been living off of a small pension + dividends from my taxable account. I'm going to let SS grow for a few more years.

I checked today and I have $906K in investments plus my house $130K .Thank you to all those that encouraged me when I needed it.

I feel like a MILLIONAIRE !
Congrats! You SHOULD feel like a millionaire!
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

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WoodSpinner
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Re: Post your Financial Milestone Announcements Here

Post by WoodSpinner » Wed Jan 17, 2018 9:01 pm

All,

Okay here goes.

I completed the Rollover of my 401k today and fully rebalanced into my target asset allocation!

This is a major retirement milestone for me as I shift from planning a retirement to living one. Topped it off with my first Roth Conversion for 2018 (next one in Dec once I have more accurate numbers).

I had to give up Vanguard Primecap (VPMAX) since Fidelity could not move it in-kind as part of the rollover and it’s now a closed fund (I have had this for years and it felt like I lost an old friend). Oh well, my IPS helped out and I just shifted the funds to VTI and VXUS which simplified the portfolio and reduced my expenses.

Really starting to sink in— I am retired!

WoodSpinner

Oh and started to shop for Class B motor homes...

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Sandtrap
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Re: Post your Financial Milestone Announcements Here

Post by Sandtrap » Wed Jan 17, 2018 9:03 pm

vested1 wrote:
Wed Jan 17, 2018 6:49 pm
New member of the 2 comma club in retirement savings here, as of today's close. I never thought this would happen due to taking withdrawals while delaying SS. We begin SS in July of this year, which will lower withdrawals to around 3% until RMD's. SS benefits will increase by about 30k in 4.5 years.

From the date we started withdrawals almost 2 years ago in March of 2016, to today, we should have $780,609 remaining in the portfolio (if there was zero gain). Instead there is $1,001,122, entirely due to $220,513 gain in a four fund indexed 60/40 portfolio at VG. Funds withdrawn from savings to fund the SS delay were not invested. Distributed dividends should fund the future portfolio withdrawals to fund SS delay until my age 70.

Thank you all for your golden advice.
Congratulations.
The fruits of a well thought out plan.
:sharebeer
j :D
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Sandtrap
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Re: Post your Financial Milestone Announcements Here

Post by Sandtrap » Wed Jan 17, 2018 9:05 pm

WoodSpinner wrote:
Wed Jan 17, 2018 9:01 pm
All,

Okay here goes.

I completed the Rollover of my 401k today and fully rebalanced into my target asset allocation!

This is a major retirement milestone for me as I shift from planning a retirement to living one. Topped it off with my first Roth Conversion for 2018 (next one in Dec once I have more accurate numbers).

I had to give up Vanguard Primecap (VPMAX) since Fidelity could not move it in-kind as part of the rollover and it’s now a closed fund (I have had this for years and it felt like I lost an old friend). Oh well, my IPS helped out and I just shifted the funds to VTI and VXUS which simplified the portfolio and reduced my expenses.

Really starting to sink in— I am retired!

WoodSpinner

Oh and started to shop for Class B motor homes...
Congratulations!
Welcome to a live of leisure. . . :sharebeer
"Toons" has a "Roadrek" to drool over.
Post a thread awhile back discussing Roadreks vs Winnebago Travato $$$$$$$ etc.
j :D
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WoodSpinner
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Re: Post your Financial Milestone Announcements Here

Post by WoodSpinner » Wed Jan 17, 2018 9:06 pm

cinghiale wrote:
Wed Jan 10, 2018 3:32 am
A milestone of sorts...

Now two full years into retirement, and have had the good fortune of strong market tailwinds since then. Stepping out of the accumulation phase, with the comfort and security of a monthly paycheck, and into the distribution phase, with the shuddering realization that the seed corn is being eaten, is an emotional and cognitive challenge. No matter how the numbers look on paper, there’s still a “stepping off the high diving board” feel to stopping work and beginning retirement.

The two year mark showed net portfolio appreciation of 7% in 2016 and 8% in 2017. With a conservative asset allocation of 35/60/5, and a withdrawal rate of right around 2.75%, we are off to a very good start. These first two years included many transitional expenses, and so I’m looking for a lower withdrawal rate for 2018. In sum, I think we have weathered the fear and trepidation season, and have reached the milestone of confidence in our retirement plans and decisions. As always, I want to recognize the wisdom of crowds in the collective insights, knowledge, and wisdom on daily display in this forum. :sharebeer to all.
Congrats, nothing like a few good years of a big bull market to get you Started!

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Sandtrap
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Re: Post your Financial Milestone Announcements Here

Post by Sandtrap » Wed Jan 17, 2018 9:07 pm

Mlm wrote:
Wed Jan 17, 2018 7:59 pm
Congratulations to everyone :sharebeer

I first posted here a year and a half ago and was so worried at that time due to an unexpected job loss. viewtopic.php?f=1&t=192652

I decided to retire at that time and continue to be frugal. I paid off my car loan and have been living off of a small pension + dividends from my taxable account. I'm going to let SS grow for a few more years.

I checked today and I have $906K in investments plus my house $130K .Thank you to all those that encouraged me when I needed it.

I feel like a MILLIONAIRE !
You've come back from the brink!
Welcome to the 2 comma club.
Congratulations
:sharebeer
j :D
Wiki Bogleheads Wiki: Everything You Need to Know

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WoodSpinner
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Re: Post your Financial Milestone Announcements Here

Post by WoodSpinner » Wed Jan 17, 2018 9:16 pm

Meg77 wrote:
Wed Jan 10, 2018 3:15 pm
Well I wasn't going to post this, but since I was prompted by this new thread title, here goes!

My husband and I surpassed a net worth of $2,000,000 yesterday for the first time. :moneybag

With bonuses pending and a strong savings rate, we should stay above this level even if/when the market corrects. In reality we've probably been here for a while due to RE values, but I list those at cost on my balance sheet so it's staring at me in print for the first time. We hit $1MM 3 years and 9 months ago (the month we got married), and we expect to hit $3MM in 3 more years (if there are no major market downturns or income gaps).

To be honest I haven't even told my husband yet, and I'm sure we won't do anything special to celebrate. I feel a bit selfish/guilty even being excited about this milestone. However it is a major one for me since I feel that it marks a true sense of financial independence. We can't retire now given our current spending level ($150k a year including our mortgage), but if we never earn or save another dollar we could downsize and live comfortably indefinitely. Similarly, if we quit saving and spent ever dollar we make from here on, we should be set for retirement . This slow realization has caused us to loosen up the spending reigns this past year. Basically anything we earn and save now is gravy.

My number one financial goal this year is to increase the amount that we give away. Our giving rate hasn't kept pace with our saving and spending increases over time.
Please let us know his reaction!

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WoodSpinner
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Re: Post your Financial Milestone Announcements Here

Post by WoodSpinner » Wed Jan 17, 2018 9:39 pm

bantam222 wrote:
Tue Jan 16, 2018 1:49 am
Does anyone struggle with not being able to share their financial achievement or swings with anyone else? I am pushing 500k and feel like I can’t tell anyone. I don’t feel comfortable telling my family as most people cannot handle large amounts of money.

It can be a weird feeling getting beers with a friend after work and knowing your net worth increased more today in the stock market than their total net worth is.
Absolutely! Especially since so many of my friends and relatives are struggling to put food on the table, keep a roof over their heads, and get the medical care that they need. Sigh, doubly frustrating in that they ask, but ignore my counsel and suggestions.

This is one of the few safe places we can celebrate this type of milestone.

WoodSpinner

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Re: Post your Financial Milestone Announcements Here

Post by WoodSpinner » Wed Jan 17, 2018 9:42 pm

SteveKnox6 wrote:
Wed Jan 17, 2018 7:48 pm
2017 was a great year for me. Got married and went on a dream honeymoon as well as paid off my wife’s student loans to the sum of $120k. She started her career and we are both maxing out our 401k’s and Roth IRA’s at age 27. We only have about $100k in our retirement assets but we also set up our Emergency Fund and got our finances in order.
That deserves a standing ovation! :beer

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OnFire
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Re: Post your Financial Milestone Announcements Here

Post by OnFire » Thu Jan 18, 2018 2:53 am

Pretty sure that my wife and I, after a decent inheritance from her mother, and a rocketing stock market, have joined the two comma club.

Not really sure though, and it’s doesn’t really matter. I’ve got another 20 years to work, and she has 25 or 30.

But still. It feels good to know we are getting there.
Where are all the customers yachts? | | “The most powerful force in the Universe is compound interest.” -Albert Einstein

vested1
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Re: Post your Financial Milestone Announcements Here

Post by vested1 » Thu Jan 18, 2018 9:31 am

Congrats to all, and to those who strive every day to reach that seemingly unreachable goal. Once reached, it's time to make a new one.

Tanelorn
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Re: Post your Financial Milestone Announcements Here

Post by Tanelorn » Thu Jan 18, 2018 2:27 pm

Congrats to all the posters. I'm not quite sure what my retirement goals are, but it feels like I'm getting pretty close. Another couple good years in the markets, and we'll see.

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Re: Post your Financial Milestone Announcements Here

Post by Meg77 » Thu Jan 18, 2018 3:30 pm

WoodSpinner wrote:
Wed Jan 17, 2018 9:16 pm
Meg77 wrote:
Wed Jan 10, 2018 3:15 pm
Well I wasn't going to post this, but since I was prompted by this new thread title, here goes!

My husband and I surpassed a net worth of $2,000,000 yesterday for the first time. :moneybag

With bonuses pending and a strong savings rate, we should stay above this level even if/when the market corrects. In reality we've probably been here for a while due to RE values, but I list those at cost on my balance sheet so it's staring at me in print for the first time. We hit $1MM 3 years and 9 months ago (the month we got married), and we expect to hit $3MM in 3 more years (if there are no major market downturns or income gaps).

To be honest I haven't even told my husband yet, and I'm sure we won't do anything special to celebrate. I feel a bit selfish/guilty even being excited about this milestone. However it is a major one for me since I feel that it marks a true sense of financial independence. We can't retire now given our current spending level ($150k a year including our mortgage), but if we never earn or save another dollar we could downsize and live comfortably indefinitely. Similarly, if we quit saving and spent ever dollar we make from here on, we should be set for retirement . This slow realization has caused us to loosen up the spending reigns this past year. Basically anything we earn and save now is gravy.

My number one financial goal this year is to increase the amount that we give away. Our giving rate hasn't kept pace with our saving and spending increases over time.
Please let us know his reaction!
Ha, it was fairly underwhelming as expected. I think he said something like, "wow, that's crazy," and then tuned back into whatever he was watching/reading. We didn't do anything out of the ordinary to mark the occasion, although at one point when we were walking home from a restaurant in below freezing temps - in heels for me with my feet aching after a long night - I did say something like, "we have two million dollars; next time we are taking an Uber." He smiled, and I consider his lack of resistance a mini-celebration in and of itself!
"An investment in knowledge pays the best interest." - Benjamin Franklin

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Re: Post your Financial Milestone Announcements Here

Post by Mr.BB » Thu Jan 18, 2018 5:03 pm

Mine is two part. In Nov 2016 we paid off our mortgage. In December 2017 we joined the two comma club (not including home value).
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

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WoodSpinner
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Re: Post your Financial Milestone Announcements Here

Post by WoodSpinner » Thu Jan 18, 2018 5:59 pm

Meg77 wrote:
Thu Jan 18, 2018 3:30 pm
WoodSpinner wrote:
Wed Jan 17, 2018 9:16 pm
Meg77 wrote:
Wed Jan 10, 2018 3:15 pm
Well I wasn't going to post this, but since I was prompted by this new thread title, here goes!

My husband and I surpassed a net worth of $2,000,000 yesterday for the first time. :moneybag

With bonuses pending and a strong savings rate, we should stay above this level even if/when the market corrects. In reality we've probably been here for a while due to RE values, but I list those at cost on my balance sheet so it's staring at me in print for the first time. We hit $1MM 3 years and 9 months ago (the month we got married), and we expect to hit $3MM in 3 more years (if there are no major market downturns or income gaps).

To be honest I haven't even told my husband yet, and I'm sure we won't do anything special to celebrate. I feel a bit selfish/guilty even being excited about this milestone. However it is a major one for me since I feel that it marks a true sense of financial independence. We can't retire now given our current spending level ($150k a year including our mortgage), but if we never earn or save another dollar we could downsize and live comfortably indefinitely. Similarly, if we quit saving and spent ever dollar we make from here on, we should be set for retirement . This slow realization has caused us to loosen up the spending reigns this past year. Basically anything we earn and save now is gravy.

My number one financial goal this year is to increase the amount that we give away. Our giving rate hasn't kept pace with our saving and spending increases over time.
Please let us know his reaction!
Ha, it was fairly underwhelming as expected. I think he said something like, "wow, that's crazy," and then tuned back into whatever he was watching/reading. We didn't do anything out of the ordinary to mark the occasion, although at one point when we were walking home from a restaurant in below freezing temps - in heels for me with my feet aching after a long night - I did say something like, "we have two million dollars; next time we are taking an Uber." He smiled, and I consider his lack of resistance a mini-celebration in and of itself!
The slow creep of spending begins .... :greedy

GetMeToRetirement
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Re: Post your Financial Milestone Announcements Here

Post by GetMeToRetirement » Thu Jan 18, 2018 6:38 pm

New to the forum and really enjoying it so far! Our family (35/34/3/0) just hit over $1M in assets last month! We hope to improve that to $1M in net worth after a few more years of paying down the mortgage (depending on market performance of course - largely the 401k).

livesoft
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Re: Post your Financial Milestone Announcements Here

Post by livesoft » Mon Jan 22, 2018 8:39 pm

A livesoft milestone: Our portfolio is up 7-figures since the low of 2 years ago. Yes, we did not make a million dollars in one year, but it took 2 years. And we paid less than about $7,000 in income taxes for those 2 years.
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Re: Post your Financial Milestone Announcements Here

Post by triceratop » Mon Jan 22, 2018 8:43 pm

livesoft wrote:
Mon Jan 22, 2018 8:39 pm
A livesoft milestone: Our portfolio is up 7-figures since the low of 2 years ago. Yes, we did not make a million dollars in one year, but it took 2 years. And we paid less than about $7,000 in income taxes for those 2 years.
2 years? This is why market timing doesn't work.
"To play the stock market is to play musical chairs under the chord progression of a bid-ask spread."

livesoft
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Re: Post your Financial Milestone Announcements Here

Post by livesoft » Mon Jan 22, 2018 8:45 pm

Yes, there is definitely room for improvement. :)
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Snowjob
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Re: Post your Financial Milestone Announcements Here

Post by Snowjob » Tue Jan 23, 2018 12:42 pm

Not a milestone but a dizzying statistic-- so far in January, I've received 1 paycheck of 2018 from my employer for a gross value of X... My portfolio is up 18X.

Ok sure, once the second paycheck comes in at the end of the month this will drop this down to more of a 9-10x for the month number but I honestly wasn't sure if I should be jumping for joy or puking out of fear with the amount of dollars at risk relative to my paycheck LOL. :confused

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Re: Post your Financial Milestone Announcements Here

Post by sc9182 » Tue Jan 23, 2018 1:45 pm

Snowjob wrote:
Tue Jan 23, 2018 12:42 pm
Not a milestone but a dizzying statistic-- so far in January, I've received 1 paycheck of 2018 from my employer for a gross value of X... My portfolio is up 18X.

Ok sure, once the second paycheck comes in at the end of the month this will drop this down to more of a 9-10x for the month number but I honestly wasn't sure if I should be jumping for joy or puking out of fear with the amount of dollars at risk relative to my paycheck LOL. :confused
With reasonable asset allocation, there is not much you would like to do, nor can you do - enjoy the ride.

Expect the swings (ups as well as downs) could potentially only get bigger (hopefully for better). Consider yourself an observer of your portfolio. Do save screen-shots of your portfolio on your smart-phone, they would look super cool and could help narrate your personal financial year-book :-)

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Re: Post your Financial Milestone Announcements Here

Post by kwiekailey » Wed Jan 24, 2018 3:54 pm

I don't know if it's a positive financial milestone, but I'm graduating from college this May, so student loans here I come! :oops: :dollar

Traveler
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Can I be a member of the two comma club?

Post by Traveler » Fri Jan 26, 2018 6:41 pm

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

I was logged into several financial accounts this week and with the recent run-up of the market, decided to tally up the totals. Including retirement accounts, brokerage, stock, cash and estimated home equity, I realized I'm part of the two comma club. Next step is to get there without home equity - maybe in the next year or two. I'm 46, single, never married and have done this all on my own through studying and getting two degrees that provide for a decent income. I hope to have enough to retire when I'm 55.

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

Post by peetsperk » Fri Jan 26, 2018 6:44 pm

Congratulations Traveler! :sharebeer

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

Post by 2 bits » Fri Jan 26, 2018 6:48 pm

Yes, sure you can be a member. Different folks define net worth differently. As of now you are including home equity but as you indicate you have your eye on the next level.
Keep up the good work!
I sometimes think that I am living the life of which my immigrant ancestors dreamed.

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

Post by Nestegg_User » 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

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

Post by OldSport » 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.

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

Post by Strayshot » Sat Jan 27, 2018 9:20 am

Welcome to the club! I think there is a single thread dedicated to financial milestones now, so perhaps the mods can merge this one in rather than keep it separate.

Whether you are going by net worth or by invested assets, once you are two comma the reality is as long as you stay the course we won’t pull your membership :sharebeer

The exception would be folks on HCOL real estate run-up regions like CA. If you claim two comma but 90% of your worth is in your property, there is a strong chance your membership could be pulled due to such a lack of investment diversity (local real estate) if the market turns.

Congrats!

Cipro
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Finally!!!

Post by Cipro » Sat Jan 27, 2018 9:41 am

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

Happy days! Finally paid off last college tuition bill for kids. That's 3 through (private) college.

Drinks on me!

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

Post by boglegirl » Sat Jan 27, 2018 9:41 am

Strayshot wrote:
Sat Jan 27, 2018 9:20 am
...
The exception would be folks on HCOL real estate run-up regions like CA. If you claim two comma but 90% of your worth is in your property, there is a strong chance your membership could be pulled due to such a lack of investment diversity (local real estate) if the market turns.

Congrats!
Might I suggest that those who have most of our net worth in financial investments have a similar risk of dropping out of the 2-comma club when the market turns. :shock:

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Toons
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Re: Finally!!!

Post by Toons » Sat Jan 27, 2018 9:42 am

Wow!!!
3 private college,....
Kudos!!

:sharebeer
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

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

Post by Shallowpockets » Sat Jan 27, 2018 9:51 am

When I hit the two comma club I was happy. Not counting home, all paid off. But I felt I needed the two commas plus a buffer in case of a market setback. Thanks to this wonderful Jaunary run up, I now feel I have that buffer.

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

Post by Strayshot » Sat Jan 27, 2018 9:54 am

boglegirl wrote:
Sat Jan 27, 2018 9:41 am
Strayshot wrote:
Sat Jan 27, 2018 9:20 am
...
The exception would be folks on HCOL real estate run-up regions like CA. If you claim two comma but 90% of your worth is in your property, there is a strong chance your membership could be pulled due to such a lack of investment diversity (local real estate) if the market turns.

Congrats!
Might I suggest that those who have most of our net worth in financial investments have a similar risk of dropping out of the 2-comma club when the market turns. :shock:
You could except that the risk profiles are completely different. If you are a boglehead and your investments are in broad equity or bond indexes and an age appropriate asset allocation, your portfolio is designed to stay the course. If you have a majority of your worth tied up in a single family home you are subject not just to sector risk but local market risk.

Your point is correct, any asset can lose value. I was just trying to point out the differences in risk and the realization of that risk kicking someone out of the club. You could own only watches, beanie babies, or cars and be in the X-comma club, but if beanie babies drop in value (already happened) your card gets pulled :moneybag :moneybag

student
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Re: Finally!!!

Post by student » Sat Jan 27, 2018 9:58 am

Wow. Congratulations.

2b2
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Re: Finally!!!

Post by 2b2 » Sat Jan 27, 2018 10:12 am

You've actually got money to buy drinks after all that?
:shock:
Nicely done!

2b2

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

Post by Traveler » Sat Jan 27, 2018 10:30 am

Thanks for the membership card. For what it's worth, I paid off my townhouse in December and it represents about 15-17% of my net worth. Next step - $1M in investable assets.

Cincyguy63
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Re: Can I be a member of the two comma club?

Post by Cincyguy63 » Sat Jan 27, 2018 10:34 am

boglegirl wrote:
Sat Jan 27, 2018 9:41 am
Strayshot wrote:
Sat Jan 27, 2018 9:20 am
...
The exception would be folks on HCOL real estate run-up regions like CA. If you claim two comma but 90% of your worth is in your property, there is a strong chance your membership could be pulled due to such a lack of investment diversity (local real estate) if the market turns.

Congrats!
Might I suggest that those who have most of our net worth in financial investments have a similar risk of dropping out of the 2-comma club when the market turns. :shock:
During these times, I look at my overall investment portfolio minus 20%.

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

Post by kenyan » Sat Jan 27, 2018 11:36 am

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.
That's where I'm at, too. Millionaire only with home equity (investable assets currently around $760K). For my estimations, I look at a reasonable online value - taking a look at comps to judge what's reasonable - and then lop off 5% in transaction fees. Since I'm currently planning/hoping to retire early in a lower COLA, I'm not sure why I would ignore the admittedly illiquid money that's tied up in my house.

I do agree that the investable-assets-only millionaire is another milestone I'm looking forward to.
Retirement investing is a marathon.

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2017 Portfolio Returns > Earned Income

Post by A-Commoner » Sat Jan 27, 2018 12:47 pm

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

While gathering our documents to file our 2017 tax returns, I was pleasantly surprised to see our portfolio returns exceeded our earned income for the whole year. We are a 2 physician household, so our incomes from our jobs are not insignificant, yet our portfolio returns (all in mutual funds allocated in Boglehead fashion) still exceeded that. Sorry if this comes across as humble brag, but I just wanted to anonymously note this "milestone" for what it's worth and what it means.

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