Milestone Reached - "Quarter Millionaire!"

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hightower
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Milestone Reached - "Quarter Millionaire!"

Post by hightower » Wed Sep 13, 2017 9:06 am

I officially crossed over 250k in investments this week (My net worth is actually closer to 370 or more, but that number depends on the value of my home)! I know it's not much compared to many on this forum, but it's a big step for me considering how much debt I've paid off over the last 1-2 years and considering that until I found this site along with WCI, I was not being very careful with my money. I'm glad I wised up at the age of 34 and not any later. Anyway, I still have some student loans to pay off this year, but should be able to grow a lot quicker once that is done. Regardless, it's a huge mental milestone to see $250,000 in total assets in my Vanguard account. Woo hoo!

Just wanted to celebrate a little. Hopefully I'll be posting a 500k milestone before too long! :sharebeer :sharebeer :D

livesoft
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Re: Milestone Reached - "Quarter Millionaire!"

Post by livesoft » Wed Sep 13, 2017 9:22 am

Let me add my Woo hoo! to yours. Congrats!
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JeepDaze
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Re: Milestone Reached - "Quarter Millionaire!"

Post by JeepDaze » Wed Sep 13, 2017 9:24 am

Great job!!!!

Broken Man 1999
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Re: Milestone Reached - "Quarter Millionaire!"

Post by Broken Man 1999 » Wed Sep 13, 2017 9:26 am

Congrats!

Even the longest journey starts out with a few steps. Stay focused, but don't forget to stop along the way and smell the roses.

Broken Man 1999
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onthecusp
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Re: Milestone Reached - "Quarter Millionaire!"

Post by onthecusp » Wed Sep 13, 2017 9:31 am

Well done!! :D

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Watty
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Re: Milestone Reached - "Quarter Millionaire!"

Post by Watty » Wed Sep 13, 2017 9:34 am

Congratulations! :sharebeer

I don't know where the official line is but it would be fair to say that you have also gone from the "low six figures" to "mid six figures" when talking about your net worth.

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FrugalProfessor
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Re: Milestone Reached - "Quarter Millionaire!"

Post by FrugalProfessor » Wed Sep 13, 2017 9:36 am

Congrats!!!!!!! I'm in a similar situation to you. Late bloomer. 12 years of college dampens the savings rate.

The good news is that once you have good systems in place, each additional $100k becomes substantially easier.

I'm sure you're already doing this, but max out every tax advantaged account available to you. I max out 401a/457/403b/Backdoor Roth/HSA/529. In taxable, buy and hold index funds and occasionally tax loss harvest.
I blog. My effective (not to be confused with statutory) MTR is 45% (fed + state, excluding payroll). I save $30k/year in taxes by maxing out deferrals. Taxes are the lowest hanging source of alpha.

DC3509
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Re: Milestone Reached - "Quarter Millionaire!"

Post by DC3509 » Wed Sep 13, 2017 9:39 am

Congrats. I am in the same boat -- didn't really get serious about this until early to mid 30s, but it is nice to see things growing now and great to hear other success stories!

Longdog
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Re: Milestone Reached - "Quarter Millionaire!"

Post by Longdog » Wed Sep 13, 2017 9:46 am

I'm sorry, but I can only give you 25% of a hearty congratulations! :wink:
Steve

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rustymutt
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Re: Milestone Reached - "Quarter Millionaire!"

Post by rustymutt » Wed Sep 13, 2017 9:48 am

And you're going to need way more than that to live it up, without outliving your income. Keep up the great savings! :sharebeer
Knowledge is knowing that the Tomato is a fruit. Wisdom is knowing better than to put the tomato in a fruit salad.

hightower
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Re: Milestone Reached - "Quarter Millionaire!"

Post by hightower » Wed Sep 13, 2017 11:28 am

Thanks everyone! I appreciate it!

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NateH
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Re: Milestone Reached - "Quarter Millionaire!"

Post by NateH » Wed Sep 13, 2017 11:38 am

Congrats! :beer
I was in your spot in ~ 2010. Now, knocking at the door of 6-zeros club.
stay the course, hightower!
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student
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Re: Milestone Reached - "Quarter Millionaire!"

Post by student » Wed Sep 13, 2017 12:35 pm

Congratulations. This is substantially more than what I had at 34.

Billionaire
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Re: Milestone Reached - "Quarter Millionaire!"

Post by Billionaire » Wed Sep 13, 2017 12:38 pm

Congrats from Billionaire. Hehe.

chicagoan23
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Re: Milestone Reached - "Quarter Millionaire!"

Post by chicagoan23 » Wed Sep 13, 2017 1:59 pm

hightower wrote:
Wed Sep 13, 2017 9:06 am
I officially crossed over 250k in investments this week (My net worth is actually closer to 370 or more, but that number depends on the value of my home)! I know it's not much compared to many on this forum, but it's a big step for me considering how much debt I've paid off over the last 1-2 years and considering that until I found this site along with WCI, I was not being very careful with my money. I'm glad I wised up at the age of 34 and not any later. Anyway, I still have some student loans to pay off this year, but should be able to grow a lot quicker once that is done. Regardless, it's a huge mental milestone to see $250,000 in total assets in my Vanguard account. Woo hoo!

Just wanted to celebrate a little. Hopefully I'll be posting a 500k milestone before too long! :sharebeer :sharebeer :D
Congrats! The milestones will start to add up quickly from here. In 2009 when I was 34 I was very similar to you--I had a portfolio of just under $300k and a net worth in the $420k range. Today, eight years later, each of those numbers has increased by more than 4x. Keep it going!

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blueblock
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Re: Milestone Reached - "Quarter Millionaire!"

Post by blueblock » Wed Sep 13, 2017 6:28 pm

When I was your age, I had a negative net worth. Now I'm retired and living large, so feel good about your milestone.

Make sure to smell the roses along the way.

DrGoogle2017
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Re: Milestone Reached - "Quarter Millionaire!"

Post by DrGoogle2017 » Wed Sep 13, 2017 7:22 pm

Congrats! I just did a tax return for a couple in their early 30s. I don't think they come even close to your amount. IRA contribution last year was $5000 for a couple.

gwe67
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Re: Milestone Reached - "Quarter Millionaire!"

Post by gwe67 » Wed Sep 13, 2017 7:45 pm

Keep up the great work!
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slowbutsteady
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Re: Milestone Reached - "Quarter Millionaire!"

Post by slowbutsteady » Wed Sep 13, 2017 7:56 pm

Congratulations! Don't forget what got you across this first milestone. Keep at it and you will cross many more quarters in due course.

We will be here to celebrate and cheer you on.
The tortoise wins every time I read that story.

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Mlm
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Re: Milestone Reached - "Quarter Millionaire!"

Post by Mlm » Wed Sep 13, 2017 7:57 pm

Very, very, very well done ! Stay the course through thick and thin :sharebeer
Reality has a way of catching up with you

forkhorn
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Re: Milestone Reached - "Quarter Millionaire!"

Post by forkhorn » Wed Sep 13, 2017 9:32 pm

I thought maybe you had amassed a million dollars in quarters.... :happy

Seriously though, congratulations. :sharebeer

Mrxyz
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Re: Milestone Reached - "Quarter Millionaire!"

Post by Mrxyz » Wed Sep 13, 2017 10:01 pm

Congratulations !
And thanks for sharing your story!

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stemikger
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Re: Milestone Reached - "Quarter Millionaire!"

Post by stemikger » Wed Sep 13, 2017 10:50 pm

student wrote:
Wed Sep 13, 2017 12:35 pm
Congratulations. This is substantially more than what I had at 34.
Me too! Congratulations!# :beer
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

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djpeteski
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Re: Milestone Reached - "Quarter Millionaire!"

Post by djpeteski » Thu Sep 14, 2017 6:51 am

It is not where you are, nor where you started that matters. It is where you are heading.

Your milestone is indicative of your trajectory: up, up, up!

Congratulations and keep up the good work!

GoldenFinch
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Re: Milestone Reached - "Quarter Millionaire!"

Post by GoldenFinch » Thu Sep 14, 2017 6:56 am

"Quarter Millionaire." I like that! Sounds kind of like a royal title. :happy

Congrats!

(Actually, you have a million quarters!)

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Top99%
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Re: Milestone Reached - "Quarter Millionaire!"

Post by Top99% » Thu Sep 14, 2017 7:19 am

Congratulations and I think $250K is actually a harder milestone to reach than $1m. Now that you have demonstrated good saving and investing habits $1m should arrive pretty quickly. :sharebeer
Adapt or perish

lostdog
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Re: Milestone Reached - "Quarter Millionaire!"

Post by lostdog » Thu Sep 14, 2017 7:52 am

Congratulations! $500k will happen happen before you know it. Stay the course through thick and thin.
:sharebeer
"Our life is frittered away by detail. Simplify, simplify." -Thoreau | Vanguard Total World Index

bubbadog
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Re: Milestone Reached - "Quarter Millionaire!"

Post by bubbadog » Thu Sep 14, 2017 7:58 am

Congrats!

wfrobinette
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Re: Milestone Reached - "Quarter Millionaire!"

Post by wfrobinette » Thu Sep 14, 2017 10:07 am

hightower wrote:
Wed Sep 13, 2017 9:06 am
I officially crossed over 250k in investments this week (My net worth is actually closer to 370 or more, but that number depends on the value of my home)! I know it's not much compared to many on this forum, but it's a big step for me considering how much debt I've paid off over the last 1-2 years and considering that until I found this site along with WCI, I was not being very careful with my money. I'm glad I wised up at the age of 34 and not any later. Anyway, I still have some student loans to pay off this year, but should be able to grow a lot quicker once that is done. Regardless, it's a huge mental milestone to see $250,000 in total assets in my Vanguard account. Woo hoo!

Just wanted to celebrate a little. Hopefully I'll be posting a 500k milestone before too long! :sharebeer :sharebeer :D
Great job! I'm working toward the 500k in investments mark. Depending on the market that could be just 2 years away or 10 or more. Keep plowing it in.

RhoRho
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Re: Milestone Reached - "Quarter Millionaire!"

Post by RhoRho » Thu Sep 14, 2017 10:55 am


Dude5568
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Re: Milestone Reached - "Quarter Millionaire!"

Post by Dude5568 » Thu Sep 14, 2017 2:44 pm

hightower wrote:
Wed Sep 13, 2017 9:06 am
I officially crossed over 250k in investments this week (My net worth is actually closer to 370 or more, but that number depends on the value of my home)! I know it's not much compared to many on this forum, but it's a big step for me considering how much debt I've paid off over the last 1-2 years and considering that until I found this site along with WCI, I was not being very careful with my money. I'm glad I wised up at the age of 34 and not any later. Anyway, I still have some student loans to pay off this year, but should be able to grow a lot quicker once that is done. Regardless, it's a huge mental milestone to see $250,000 in total assets in my Vanguard account. Woo hoo!

Just wanted to celebrate a little. Hopefully I'll be posting a 500k milestone before too long! :sharebeer :sharebeer :D
Congratulations ..!!

In a pleasant coincidence , I myself have reached this milestone of 250 k in Investable assets today ..!!.

Mine are a combination of a brokerage account with Vanguard , me and my wife's 401k accounts with Fidelity plus cash in a Money Market account. I'm about your age also ( turned 32 this past Monday ). Total net worth about 315-320 k. No debt whatsoever. We don't own a home yet and rent.

BTW , check out this report from Phoenix wealth management .
http://phoenixmi.com/wp-content/uploads ... anking.pdf

Having over 250 k in IA makes you richer than over 80 percent ( 98.8 out of 121 million ) of American Households as of 2015. Not bad for someone in their early 30s. :sharebeer
Last edited by Dude5568 on Thu Sep 14, 2017 2:47 pm, edited 1 time in total.

clutchied
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Re: Milestone Reached - "Quarter Millionaire!"

Post by clutchied » Thu Sep 14, 2017 2:45 pm

hightower wrote:
Wed Sep 13, 2017 9:06 am
I officially crossed over 250k in investments this week (My net worth is actually closer to 370 or more, but that number depends on the value of my home)! I know it's not much compared to many on this forum, but it's a big step for me considering how much debt I've paid off over the last 1-2 years and considering that until I found this site along with WCI, I was not being very careful with my money. I'm glad I wised up at the age of 34 and not any later. Anyway, I still have some student loans to pay off this year, but should be able to grow a lot quicker once that is done. Regardless, it's a huge mental milestone to see $250,000 in total assets in my Vanguard account. Woo hoo!

Just wanted to celebrate a little. Hopefully I'll be posting a 500k milestone before too long! :sharebeer :sharebeer :D
Yeah! We crossed that earlier this year.

Our NW is closer to $750k due to other investments but we're maxing everything we can at this point that is tax deferred w/o going to taxable.

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Meg77
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Re: Milestone Reached - "Quarter Millionaire!"

Post by Meg77 » Thu Sep 14, 2017 3:52 pm

GoldenFinch wrote:
Thu Sep 14, 2017 6:56 am
"Quarter Millionaire." I like that! Sounds kind of like a royal title. :happy

Congrats!

(Actually, you have a million quarters!)
I love this! Haha - a million quarters. What a fun way to look at it.

A million pennies - $10,000
A million nickels - $50,000
A million dimes - $100,000
A million quarters - $250,000
A million dollars - $1,000,000
A million $5 bills - $5,000,000
A million $20 bills - $20,000,000
A million $100 bills - $100,000,000

There are always more milestones! :mrgreen: :moneybag

Of course the more important things are the habits and procedures that make achieving them possible.
"An investment in knowledge pays the best interest." - Benjamin Franklin

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wander
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Re: Milestone Reached - "Quarter Millionaire!"

Post by wander » Thu Sep 14, 2017 8:38 pm

Congrats! Yours is better than when I was at your age.

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Re: Milestone Reached - "Quarter Millionaire!"

Post by abuss368 » Thu Sep 14, 2017 8:41 pm

Congrats and press on!
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Shackal
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Re: Milestone Reached - "Quarter Millionaire!"

Post by Shackal » Thu Sep 14, 2017 8:45 pm

Congrats! Remarkable!

As an aside and purely out of interest - how do you count your IA I case where you have a home that is being temporarily rented? Feels a little strange to count it as investment since at any time, you might want to move back into it and then it would be off that amount.

Sandtrap
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Re: Milestone Reached - "Quarter Millionaire!"

Post by Sandtrap » Thu Sep 14, 2017 10:43 pm

Congratulations!
:sharebeer

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Raymond
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Re: Milestone Reached - "Quarter Millionaire!"

Post by Raymond » Thu Sep 14, 2017 11:18 pm

Outstanding! :sharebeer
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pamplemousse
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Re: Milestone Reached - "Quarter Millionaire!"

Post by pamplemousse » Fri Sep 15, 2017 12:26 am

congratulations!!!!

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slow n steady
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Re: Milestone Reached - "Quarter Millionaire!"

Post by slow n steady » Fri Sep 15, 2017 1:42 am

Congrats! We hit a similar milestone this week. I was checking our net worth almost every day for a week. Woo Hoo for everyone! :moneybag :D :moneybag

VAslim16
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Re: Milestone Reached - "Quarter Millionaire!"

Post by VAslim16 » Fri Sep 15, 2017 6:19 am

Congrats. I am 38 right now and hope to be there in two years. Well done doing it relatively early and keep it up!

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tennisplyr
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Re: Milestone Reached - "Quarter Millionaire!"

Post by tennisplyr » Fri Sep 15, 2017 7:26 am

Congrats! It's never too late. I had basically zero in my early forties, now in my midsixties, happily retired. Keep working hard, saving/investing, living below your means....and never give up!
Those who move forward with a happy spirit will find that things always work out.

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