How long to turn 1 million to 2 millions for you?

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GG1273
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Re: How long to turn 1 million to 2 millions for you?

Post by GG1273 »

3.6 years
75 / 25 but not much of an international exposure in our portfolio

The first million was 16 years in the making...
Candor
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Re: How long to turn 1 million to 2 millions for you?

Post by Candor »

Wonder if the op has made their 2m yet. I'm too lazy to do the math.
Time is your friend, impulse is your enemy. - John C. Bogle
stoptothink
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Re: How long to turn 1 million to 2 millions for you?

Post by stoptothink »

David Jay wrote: Wed Apr 07, 2021 3:45 pm Zombie thread - no posts for 5 years until this afternoon...
If I remember correctly, depending on the value of TSLA for the day, the OP has gone from $1M to $10M+ since 2016. We hit $1M around September and we're at $1.3M+ now (with moderate income for this board, ~$230k/yr).
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jason2459
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Re: How long to turn 1 million to 2 millions for you?

Post by jason2459 »

Abe wrote: Thu Aug 04, 2016 11:34 am If you start with 1 million and invest $3,500 per month, you will have 2 million in:
105 months @ 5%
93 months @ 6%
84 months @ 7%
65 months @ 10%
47 months @ 15%
I wouldn't count on the last two. :beer
Interesting to see where we are as of March 2021, less then 5 years later, starting with $1m in Aug 2016 and investing $3,500/month.

VTI @ $2,338,027 19.96% CAGR
VT @ $2,076,516 16.95% CAGR
VBIAX @ $1,901,353 14.76% CAGR

VASGX @ $1,939,952. 15.26% CAGR
VSMGX @ $1,782,037 13.18% CAGR
VSCGX @ $1,631,730 11.06%
VASIX @ $1,486,243. 8.86% CAGR
Last edited by jason2459 on Wed Apr 07, 2021 4:28 pm, edited 1 time in total.
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Thesaints
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Re: How long to turn 1 million to 2 millions for you?

Post by Thesaints »

Anyone going from one million to two fast enough is probably taking on more risk than they imagine.
alfaspider
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Re: How long to turn 1 million to 2 millions for you?

Post by alfaspider »

Thesaints wrote: Wed Apr 07, 2021 4:24 pm Anyone going from one million to two fast enough is probably taking on more risk than they imagine.
What is "fast enough"?
mrc
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Re: How long to turn 1 million to 2 millions for you?

Post by mrc »

Started saving in 1986
$1M July 2010
$2M Mar 2016
$3M Sep 2018
$4M April 2021

The first million is the hardest. Once you're nearing retirement (and you stayed a good Boglehead :happy), daily and weekly swings can dwarf your entire portfolio balance in the early years, or what you paid for your house!
By the time you know enough to choose a good financial adviser, you don't need one. | bogleheads.org is my advisor: The ER is 0.0% and the advice always solid.
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Scott S
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Re: How long to turn 1 million to 2 millions for you?

Post by Scott S »

Candor wrote: Wed Apr 07, 2021 3:51 pm Wonder if the op has made their 2m yet. I'm too lazy to do the math.
No need to do any math! PortfolioVisualizer says that someone who put $1,000,000 into Total Stock Market on Aug 1, 2016 would have just crossed the $2,000,000 mark at the end of last month:

Congratulations, OP! :moneybag
"Worry is interest paid on trouble before it becomes due." -- William R. Inge
BruinBones
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Re: How long to turn 1 million to 2 millions for you?

Post by BruinBones »

I did! Reached 1 million in investment assets in late 2016. AA was 70:30, mostly index funds. Contributed maximum to 403b and 457b, a little extra to taxable investments. Reached 2 million in early 2021.
Onlineid3089
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Re: How long to turn 1 million to 2 millions for you?

Post by Onlineid3089 »

mrc wrote: Wed Apr 07, 2021 4:42 pm Started saving in 1986
$1M July 2010
$2M Mar 2016
$3M Sep 2018
$4M April 2021

The first million is the hardest. Once you're nearing retirement (and you stayed a good Boglehead :happy), daily and weekly swings can dwarf your entire portfolio balance in the early years, or what you paid for your house!
Agreed on the increase in savings. I'm coming up on nine years into my career and our auto-pilot savings for this year are roughly equal to my entire annual salary before a couple bigger increases in 2019 and 2020.
Candor
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Re: How long to turn 1 million to 2 millions for you?

Post by Candor »

Scott S wrote: Wed Apr 07, 2021 4:44 pm
Candor wrote: Wed Apr 07, 2021 3:51 pm Wonder if the op has made their 2m yet. I'm too lazy to do the math.
No need to do any math! PortfolioVisualizer says that someone who put $1,000,000 into Total Stock Market on Aug 1, 2016 would have just crossed the $2,000,000 mark at the end of last month:

Congratulations, OP! :moneybag
His AA listed in the op is "1. My AA: 40% US, 30% Int'l, 30% Bonds 2. All in low cost index funds." So it doesn't look like they made it there yet with this AA but according to 'Stoptothink' above they are now at 10m due to an investment in Tesla. So I would say congrats are still in order!
Time is your friend, impulse is your enemy. - John C. Bogle
Nathan Drake
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Re: How long to turn 1 million to 2 millions for you?

Post by Nathan Drake »

So I guess the lesson learned in this thread is to YOLO on meme stocks instead of investing in boring index funds like a boglehead
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Scott S
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Re: How long to turn 1 million to 2 millions for you?

Post by Scott S »

Candor wrote: Wed Apr 07, 2021 4:54 pmHis AA listed in the op is "1. My AA: 40% US, 30% Int'l, 30% Bonds 2. All in low cost index funds." So it doesn't look like they made it there yet with this AA but according to 'Stoptothink' above they are now at 10m due to an investment in Tesla. So I would say congrats are still in order!
Whoops, I skimmed over that! The 40/30/30 portfolio would be at about $1.6 million now, which wouldn't be horrible, but:
Hawaiishrimp wrote: Wed Feb 03, 2021 4:15 amUpdate: As of Feb 1, 2021

2021: $18.6M (as of Feb 1)
:shock: :moneybag
"Worry is interest paid on trouble before it becomes due." -- William R. Inge
Candor
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Re: How long to turn 1 million to 2 millions for you?

Post by Candor »

Scott S wrote: Wed Apr 07, 2021 5:04 pm
Candor wrote: Wed Apr 07, 2021 4:54 pmHis AA listed in the op is "1. My AA: 40% US, 30% Int'l, 30% Bonds 2. All in low cost index funds." So it doesn't look like they made it there yet with this AA but according to 'Stoptothink' above they are now at 10m due to an investment in Tesla. So I would say congrats are still in order!
Whoops, I skimmed over that! The 40/30/30 portfolio would be at about $1.6 million now, which wouldn't be horrible, but:
Hawaiishrimp wrote: Wed Feb 03, 2021 4:15 amUpdate: As of Feb 1, 2021

2021: $18.6M (as of Feb 1)
:shock: :moneybag
Yikes. Makes 2m seem almost pedestrian.
Time is your friend, impulse is your enemy. - John C. Bogle
MathWizard
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Re: How long to turn 1 million to 2 millions for you?

Post by MathWizard »

7 years from 1/2 million to 2 million in the retirement accounts.

After 1/2 million, my wife and I had several accounts, so it's
harder to know when we hit $1 million.

Lots of contributions and very good market returns.
I was 100% stocks until 4 years ago, at which time I was probably about 1 million,
my kids were finished with college, and the house was paid off.

In my main account where I consistently contributed 15% of salary, I went from
$190K in Jan, 2009 (after a loss of about half my portfolio) to over $1 million
by Jan 1, 2021. So a bit over 5x in 12 years.
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watchnerd
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Re: How long to turn 1 million to 2 millions for you?

Post by watchnerd »

Thesaints wrote: Wed Apr 07, 2021 4:24 pm Anyone going from one million to two fast enough is probably taking on more risk than they imagine.
Fast enough?

Also, when you're contributing six figures every year, it doesn't take anything extraordinary.
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MotoTrojan
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Re: How long to turn 1 million to 2 millions for you?

Post by MotoTrojan »

Candor wrote: Wed Apr 07, 2021 5:08 pm
Scott S wrote: Wed Apr 07, 2021 5:04 pm
Candor wrote: Wed Apr 07, 2021 4:54 pmHis AA listed in the op is "1. My AA: 40% US, 30% Int'l, 30% Bonds 2. All in low cost index funds." So it doesn't look like they made it there yet with this AA but according to 'Stoptothink' above they are now at 10m due to an investment in Tesla. So I would say congrats are still in order!
Whoops, I skimmed over that! The 40/30/30 portfolio would be at about $1.6 million now, which wouldn't be horrible, but:
Hawaiishrimp wrote: Wed Feb 03, 2021 4:15 amUpdate: As of Feb 1, 2021

2021: $18.6M (as of Feb 1)
:shock: :moneybag
Yikes. Makes 2m seem almost pedestrian.
Agreed, I got jealous as well, then I read this and realized the OP will probably be on their way to $2M again soon.
Hawaiishrimp wrote: Fri Feb 05, 2021 6:21 pm
investingdad wrote: Fri Feb 05, 2021 8:15 am
Hawaiishrimp wrote: Thu Feb 04, 2021 12:43 pm
investingdad wrote: Thu Feb 04, 2021 7:39 am That must have been a sizable TSLA holding relative to the rest of your investments if a ten fold increase in the stock had a similar effect on your NW.
That’s correct.
So my question is... are you staying in the Tesla or taking the money off the table given the very high concentration?

We are in a similar, but order of magnitude smaller, situation with my wife's vested stock. We never expected it to grow as much as it has, but divesting and paying the tax isn't appealing. Her company trades at a normal PE with high cash flow from operations, so stable...but still, it's a lot in one company.

I'm interested to hear how you are addressing the situation you're in.
The majority of my Tesla stocks are in 401k (with the option to buy my own stocks of choice) and ROTH, so no tax when we sell. I invest in Tesla with a 10+ years horizon, so they near term gains do not de-route us from continuing to invest in the company. I like Elon's vision, mission, and execution. I can't think of a better company to put my money in, so I stay the course. Cheers!
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Re: How long to turn 1 million to 2 millions for you?

Post by abuss368 »

I don’t think you can determine that as the variables can have wide ranges and potential impact.

I would guess the rate of savings and projected investment returns.

Tony
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Marseille07
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Re: How long to turn 1 million to 2 millions for you?

Post by Marseille07 »

MotoTrojan wrote: Wed Apr 07, 2021 5:31 pm Agreed, I got jealous as well, then I read this and realized the OP will probably be on their way to $2M again soon.
I really doubt it. Even if Tesla comes crashing down, it's not like the OP has to sit & stay in. Pretty sure they'd pull the plug way before 2M.
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Re: How long to turn 1 million to 2 millions for you?

Post by MotoTrojan »

Marseille07 wrote: Wed Apr 07, 2021 5:35 pm
MotoTrojan wrote: Wed Apr 07, 2021 5:31 pm Agreed, I got jealous as well, then I read this and realized the OP will probably be on their way to $2M again soon.
I really doubt it. Even if Tesla comes crashing down, it's not like the OP has to sit & stay in. Pretty sure they'd pull the plug way before 2M.
They claim they are holding for a 10+ year horizon and TSLA regularly has 30%+ drawdowns (during a historic bull) so they better be prepared to hold on for the ride, or just decide that they'll get entirely out at a certain point (say 50%) or emotions will make it quite hard to not ride it all the way to the ground floor.
Thesaints
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Re: How long to turn 1 million to 2 millions for you?

Post by Thesaints »

alfaspider wrote: Wed Apr 07, 2021 4:31 pm
Thesaints wrote: Wed Apr 07, 2021 4:24 pm Anyone going from one million to two fast enough is probably taking on more risk than they imagine.
What is "fast enough"?
Define a risk threshold. You can find a time span short enough in which if your assets had doubled you would have been exposed to a risk above that threshold.
I'm neglecting new contributions, of course.
supalong52
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Re: How long to turn 1 million to 2 millions for you?

Post by supalong52 »

0 to 1 million -- 11 years;
1 to 2 million -- 3 years;
2 to 3 million -- 3 years and 5 months; and
3 to 4 million -- 1 year and 2 months
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ray.james
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Re: How long to turn 1 million to 2 millions for you?

Post by ray.james »

If anyone wondered about OP, he is at 18M.
viewtopic.php?p=5785921#p5785921

He reached 2 million 1 year later.
When in doubt, http://www.bogleheads.org/forum/viewtopic.php?f=1&t=79939
jcricket73
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Re: How long to turn 1 million to 2 millions for you?

Post by jcricket73 »

supalong52 wrote: Wed Apr 07, 2021 6:40 pm 0 to 1 million -- 11 years;
1 to 2 million -- 3 years;
2 to 3 million -- 3 years and 5 months; and
3 to 4 million -- 1 year and 2 months
I've noticed same thing on my side. First $1M took almost 15 years with 2 full on bear marks and several blah years both in terms of income and market.

Second $1M took only 8 years. But if I don't mess up, should be at 3M in 3 years without giant market gains, because I can contribute more than my entire portfolio size for the first 5+ years. If market keeps growing at this torrid rate there's a chance I go from $2->4 in 3 years between contributions and growth.

Also of course, going from $1-$2 requires 100% market growth, where 3-4 only requires like 30% market growth - assuming 100% equities.
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geerhardusvos
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Re: How long to turn 1 million to 2 millions for you?

Post by geerhardusvos »

Only hit $1 million in the last few months, it’s still fresh, but I’m already a quarter of the way to the next million. High savings rate and ridiculous returns the last year did it. Hope to be to $2 million in the next 2 to 5 years.
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stormcrow
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Re: How long to turn 1 million to 2 millions for you?

Post by stormcrow »

MotoTrojan wrote: Wed Apr 07, 2021 5:31 pm
Hawaiishrimp wrote: Fri Feb 05, 2021 6:21 pm

The majority of my Tesla stocks are in 401k (with the option to buy my own stocks of choice) and ROTH, so no tax when we sell. I invest in Tesla with a 10+ years horizon, so they near term gains do not de-route us from continuing to invest in the company. I like Elon's vision, mission, and execution. I can't think of a better company to put my money in, so I stay the course. Cheers!
Comments like these help me understand Tesla's 1100+ P/E ratio. This isn't a stock, it's a philosophy masquerading as an investment.
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Re: How long to turn 1 million to 2 millions for you?

Post by Firemenot »

stormcrow wrote: Thu Apr 08, 2021 8:11 am
MotoTrojan wrote: Wed Apr 07, 2021 5:31 pm
Hawaiishrimp wrote: Fri Feb 05, 2021 6:21 pm

The majority of my Tesla stocks are in 401k (with the option to buy my own stocks of choice) and ROTH, so no tax when we sell. I invest in Tesla with a 10+ years horizon, so they near term gains do not de-route us from continuing to invest in the company. I like Elon's vision, mission, and execution. I can't think of a better company to put my money in, so I stay the course. Cheers!
Comments like these help me understand Tesla's 1100+ P/E ratio. This isn't a stock, it's a philosophy masquerading as an investment.
Reading the underlying comment made me wonder what would happen to Tesla if, for forbid, Elon Musk had a major health issue and couldn’t do the job anymore. It seems like the sentiment for Tesla largely hinges on him as a visionary. My guess is the stock would tank.

As for me on the initial question, wish I had tracked better. I think it probably took 4 years for me.
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TierArtz
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Re: How long to turn 1 million to 2 millions for you?

Post by TierArtz »

Not counting home equity, it took 26 years to get to 1 million (2012), and 4 more to get to 2 million (2016); subsequent milestones came more rapidly.
Steadfast
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Re: How long to turn 1 million to 2 millions for you?

Post by Steadfast »

4 years and ~2 months: 9/15/2016 to 11/18/2020.
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Marseille07
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Re: How long to turn 1 million to 2 millions for you?

Post by Marseille07 »

Checked now. About 3 years, slightly shorter.
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JoMoney
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Re: How long to turn 1 million to 2 millions for you?

Post by JoMoney »

An amount invested in a broad U.S. stock market fund when this thread started (Aug-2016) would now have doubled in value (with no additional contributions.)

PV Link

$1,000,000 invested in VTI Aug-2016 to Mar-2021 = $2,026,085


In 2016 I could get 2 McDonald's double cheeseburgers for $2. ($1 each)... how much is a double cheeseburger today?

This suggests $1.69 (I think it's more than that where I live)
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
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Portfolio7
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Re: How long to turn 1 million to 2 millions for you?

Post by Portfolio7 »

Just retirement accounts: We hit $1M in mid 2017 (call that 21 years). A little less than 4 years later we are at $1.5M. We seem to double our accounts every 7-8 years, with a modest savings rate, especially by most BH standards (about 11% including employer contributions). Roughly 77/23 AA.

NW hit $1M in 2014 and passed $2M in 2020, so 6 years... we've been doubling NW every 6 years really consistently. That number includes real estate and a small business, and diversification is strongly evident in our results.

If we double NW again over the next 6 years, I will definitely retire. Our goal is $3.5M

I'm hopeful Jamie Dimon is right about business expansion through the end of 2023, and the coming growth he expects is reflected in stock market returns - but in the end we take what the market gives us.


(Edit) Dayumm. I just read the comments above about OP being at $18.6M. I don't think I want the kind of risk it takes to accomplish that. Anyways, Congrats to him!
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tennisplyr
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Re: How long to turn 1 million to 2 millions for you?

Post by tennisplyr »

Still working on my first million :D
Those who move forward with a happy spirit will find that things always work out.
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LilyFleur
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Re: How long to turn 1 million to 2 millions for you?

Post by LilyFleur »

After retiring early, I hit $1 million. Then up to $1.5 million a few years later. I have a modest pension. I'm single and happy.

Retirement has been fluid for me. I did some traveling, helped my kids, and am back working part-time to avoid withdrawing from savings for my health-care premiums.
SeaToTheBay
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Re: How long to turn 1 million to 2 millions for you?

Post by SeaToTheBay »

For us it took exactly 2 years - just hit $2M portfolio on Monday. Saving a lot and investing a lot, plus ~$140k windfall from selling a rental property and a car in 2020.

NW took just over 3 years to go from $1M to $2M.
Glockenspiel
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Re: How long to turn 1 million to 2 millions for you?

Post by Glockenspiel »

Well, my wife and I just went from 1.0 million to 1.4 million net worth from June 2020 to today (10 months), so at this rate, we'll be at 2 million in another 15 months, for a grand total of 25 months to go from 1 million to 2 million.
RJC
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Re: How long to turn 1 million to 2 millions for you?

Post by RJC »

About 2-3 years. It took saving about 45% of our income, 100% equities, and some RSU/bonuses to get there.
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Re: How long to turn 1 million to 2 millions for you?

Post by dsasdg »

One day if hyperinflation
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Scott S
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Re: How long to turn 1 million to 2 millions for you?

Post by Scott S »

Firemenot wrote: Thu Apr 08, 2021 10:14 amReading the underlying comment made me wonder what would happen to Tesla if, for forbid, Elon Musk had a major health issue and couldn’t do the job anymore. It seems like the sentiment for Tesla largely hinges on him as a visionary. My guess is the stock would tank.
If Tesla has its own Tim Cook waiting in the wings, maybe it wouldn't be so bad...
"Worry is interest paid on trouble before it becomes due." -- William R. Inge
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