Time to reach 1M and 2M milestones
Re: Time to reach 1M and 2M milestones
age 60
1M 1985- 2014
2M 2014 -2020
Looks like I'm progressing at a typical blue-collar pace
1M 1985- 2014
2M 2014 -2020
Looks like I'm progressing at a typical blue-collar pace
-
- Posts: 4816
- Joined: Wed Sep 09, 2015 4:44 pm
Re: Time to reach 1M and 2M milestones
0-$1M: 5.5 yrs (2013->2018)
$1M-$2M: 3 yrs (2018-2021)
$1-2M was certainly easier, but the market of the last couple years has been unusually good. My savings rate actually went down due to kids and childcare costs.
$1M-$2M: 3 yrs (2018-2021)
$1-2M was certainly easier, but the market of the last couple years has been unusually good. My savings rate actually went down due to kids and childcare costs.
Re: Time to reach 1M and 2M milestones
This is highly dependent upon the year you started. I was basically sideways for the first decade 2001-2011 and then things took off the next decade 2011-2021. We hit the first around 2019-ish and now over half-way to the second.
-
- Posts: 1509
- Joined: Wed Oct 03, 2018 8:11 pm
I'm finally a millionaire....I think
[Thread merged into here --admin LadyGeek]
Our combined HH net worth finally passed $1,000,000. I am including $110k in home equity in that calculation. Of course, the bulk of the funds are in retirement accounts that can't be touched for 20 years.
Can I still say I'm a millionaire?
3 years ago we were only at $301,000 HH net worth. I credit the knowledge gained from the Bogleheads (well, and an incredible bull market and large HH income gains) with the turnaround.
I am 40 years old. If I am lucky we should be able to continue putting away $100k/yr which I think should put us on a pretty good financial path forward assuming no disaster scenarios, I hope. Are we doing ok at 40 or are we still behind??
For me, being a millionaire would be a big milestone even though $1M is not what it used to be. I grew up in essentially a $0 net worth household.
Guess none of it really matters in the end.
Our combined HH net worth finally passed $1,000,000. I am including $110k in home equity in that calculation. Of course, the bulk of the funds are in retirement accounts that can't be touched for 20 years.
Can I still say I'm a millionaire?
3 years ago we were only at $301,000 HH net worth. I credit the knowledge gained from the Bogleheads (well, and an incredible bull market and large HH income gains) with the turnaround.
I am 40 years old. If I am lucky we should be able to continue putting away $100k/yr which I think should put us on a pretty good financial path forward assuming no disaster scenarios, I hope. Are we doing ok at 40 or are we still behind??
For me, being a millionaire would be a big milestone even though $1M is not what it used to be. I grew up in essentially a $0 net worth household.
Guess none of it really matters in the end.
Last edited by justsomeguy2018 on Wed Oct 20, 2021 11:31 am, edited 1 time in total.
Re: I'm finally a millionaire....I think
Yes, congratulations!
Vanguard/Fidelity | 76% US Stock | 16% Int'l Stock | 8% Cash
Re: I'm finally a millionaire....I think
Congratulations! Yes, absolutely. Well done!
This board skews very much to the rich end of things and can warp your perspective. Hitting that milestone at 40, IMO, is a huge achievement.
You have decades left for the 8th wonder of the world to work on that.
This board skews very much to the rich end of things and can warp your perspective. Hitting that milestone at 40, IMO, is a huge achievement.
You have decades left for the 8th wonder of the world to work on that.
Re: I'm finally a millionaire....I think
Congratulations. You are a Millionaire! You have a net worth more than most people will ever make in their lifetime.
-
- Posts: 140
- Joined: Thu Jan 17, 2019 1:24 pm
Re: I'm finally a millionaire....I think
Yes, you are allowed to say that now.justsomeguy2018 wrote: ↑Wed Oct 20, 2021 11:26 am Our combined HH net worth finally passed $1,000,000. I am including $110k in home equity in that calculation. Of course, the bulk of the funds are in retirement accounts that can't be touched for 20 years.
Can I still say I'm a millionaire?
Your next milestone should be getting to an investable NW of $1MM, where the value of your home isn't included. It probably (hopefully) will happen sooner than you'd think!
Re: I'm finally a millionaire....I think
Yes, you did it! Congrats and celebrate with a good craft beer!justsomeguy2018 wrote: ↑Wed Oct 20, 2021 11:26 am Our combined HH net worth finally passed $1,000,000. I am including $110k in home equity in that calculation. Of course, the bulk of the funds are in retirement accounts that can't be touched for 20 years.
Can I still say I'm a millionaire?
3 years ago we were only at $301,000 HH net worth. I credit the knowledge gained from the Bogleheads (well, and an incredible bull market and large HH income gains) with the turnaround.
I am 40 years old. If I am lucky we should be able to continue putting away $100k/yr which I think should put us on a pretty good financial path forward assuming no disaster scenarios, I hope. Are we doing ok at 40 or are we still behind??
For me, being a millionaire would be a big milestone even though $1M is not what it used to be. I grew up in essentially a $0 net worth household.
Guess none of it really matters in the end.
Re: I'm finally a millionaire....I think
I'm not sure you can say "I'm a millionaire" but I suppose you can say "we're a millionaire". Still a great accomplishment. Congrats.
The fool, with all his other faults, has this also - he is always getting ready to live. - Seneca Epistles < c. 65AD
Re: I'm finally a millionaire....I think
Source: Investopedia
If you believe that the market will return 8% over the long term, then your investment will double roughly every 9 years.
If you believe that the market will return 10% over the long term (the historical rate, but perhaps optimistic based on where we are now), then your investment will double every 7 years.
Because you're continuing to contribute, this doubling will occur much faster.
If you keep this up, your second million will arrive while you're still in your 40's. You may pass $4 million in your 50's.
These numbers are fun, but don't forget to live day by day. It's not just the destination, it's also the journey.
What this means for you:What Is the Rule of 72?
The Rule of 72 is a simple way to determine how long an investment will take to double given a fixed annual rate of interest. By dividing 72 by the annual rate of return, investors obtain a rough estimate of how many years it will take for the initial investment to duplicate itself.
If you believe that the market will return 8% over the long term, then your investment will double roughly every 9 years.
If you believe that the market will return 10% over the long term (the historical rate, but perhaps optimistic based on where we are now), then your investment will double every 7 years.
Because you're continuing to contribute, this doubling will occur much faster.
If you keep this up, your second million will arrive while you're still in your 40's. You may pass $4 million in your 50's.
These numbers are fun, but don't forget to live day by day. It's not just the destination, it's also the journey.
Re: I'm finally a millionaire....I think
Definitely a millionaire.
How are you doing for 40? Depends on your goals. You are fast approaching the top 10% of Americans, so there isn't much to compare with.
How are you doing for 40? Depends on your goals. You are fast approaching the top 10% of Americans, so there isn't much to compare with.
-
- Posts: 300
- Joined: Thu Jul 30, 2015 5:58 pm
Re: I'm finally a millionaire....I think
Congratulations on your success! Keep building on it. Should be all downhill from here.
-
- Posts: 5993
- Joined: Mon Aug 22, 2016 3:22 pm
Re: I'm finally a millionaire....I think
Yes, but be careful to not include that home equity in retirement calculations. I see some people do that when looking at net worth as x number of expenses.
Re: I'm finally a millionaire....I think
Congratulations.
Minor note - remember any $$ in trad IRAs/401ks includes tax $$ that must be paid upon withdrawal. $$ in Roth IRAs/401ks is all yours.
But still, a major accomplishment. And if you keep it up, more will follow.
Minor note - remember any $$ in trad IRAs/401ks includes tax $$ that must be paid upon withdrawal. $$ in Roth IRAs/401ks is all yours.
But still, a major accomplishment. And if you keep it up, more will follow.
The power of accurate observation is often called cynicism by those who do not have it. ~George Bernard Shaw
- vanbogle59
- Posts: 1314
- Joined: Wed Mar 10, 2021 7:30 pm
Re: I'm finally a millionaire....I think
Put down that beer!
Of course it matters. It's just not the only thing that matters.
Congrats.
Now, where did you put that beer?
Re: I'm finally a millionaire....I think
Do you own a mansion and a yacht?
-B
-
- Posts: 112
- Joined: Sat Mar 06, 2021 9:26 pm
- Location: Over Yonder
Re: I'm finally a millionaire....I think
You are, as the youngsters say " goals "
Keep killing it! Looking up at you as a 26 year old Boglehead.
Keep killing it! Looking up at you as a 26 year old Boglehead.
A task begun is nearly half complete | Enough is as good as a feast | Risk: Ensure your goals can be met even under worst case scenario and be realistic.
-
- Posts: 1405
- Joined: Tue Feb 14, 2012 11:31 am
Re: I'm finally a millionaire....I think
Congratulations !
-
- Posts: 8626
- Joined: Wed Apr 08, 2015 11:31 am
- Location: West coast of Florida, near Champa Bay !
Re: I'm finally a millionaire....I think
OP, congrats! Do something nice for you and yours, then get back to doing whatever you two did to get to your first million.
Depending on Mr Market, you might reach millionaire status more than once. DW and I did just that! We made millionaire status, market dropped and we were no longer millionaires. Then, regained when market improved.
Fortunately Mr. Market has treated us very, very well these last few years.
OP, on a serious note, always stop to smell the roses along your path.
Every now and then (too often, IMHO) we read a post made by someone who was a prolific saver who is now having trouble spending some of the stash they have accumulated. I find that very sad.
Don't be that person.
Realize every day is a gift, and don't squander it by having blinders on as you save for your retirement.
Broken Man 1999
Depending on Mr Market, you might reach millionaire status more than once. DW and I did just that! We made millionaire status, market dropped and we were no longer millionaires. Then, regained when market improved.
Fortunately Mr. Market has treated us very, very well these last few years.
OP, on a serious note, always stop to smell the roses along your path.
Every now and then (too often, IMHO) we read a post made by someone who was a prolific saver who is now having trouble spending some of the stash they have accumulated. I find that very sad.
Don't be that person.
Realize every day is a gift, and don't squander it by having blinders on as you save for your retirement.
Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven then I shall not go." - Mark Twain
- AnnetteLouisan
- Posts: 7261
- Joined: Sat Sep 18, 2021 10:16 pm
- Location: New York, NY
Re: I'm finally a millionaire....I think
only one thing… a millionaire should never say he‘s a millionaire… lol.
just kidding- congratulations!
just kidding- congratulations!
Last edited by AnnetteLouisan on Wed Oct 20, 2021 1:18 pm, edited 1 time in total.
-
- Posts: 1115
- Joined: Tue May 12, 2015 2:59 pm
Re: Time to reach 1M and 2M milestones
I'd be curious to see what data you have on this. The explanations for the large amounts of student debt is that a high percentage is for, well, expensive education - law, medicine, graduate education, etc. Further, another large chunk is taken up by students that don't graduate or take six years to do so. I went to a public school that is considered a "public Ivy"; instead of taking loans, I did ROTC, which many "young people" now look down upon. For whatever reason, people who talk about students are struggling so much with tuition refuse to acknowledge the fact that an extremely high percentage of low-income students receive substantial student aid.sawhorse wrote: ↑Mon May 18, 2015 5:23 pmI get the feeling that many many young people who have high net worth--not all of course--didn't do it by themselves. Student debt is huge these days even at public universities. The median tuition increase among state universities since 2008 is 25%. Nine states have increased tuition more than 50% after inflation. Arizona has increased tuition 83.6% Combined with the fact that many students' parents lost money and/or jobs in the 2008 crash, it's a rare and fortunate student who doesn't graduate with debt.kwan2 wrote:if your young, you may not realized it, but older folks pass away, and if you have a rich uncle, it might happen faster, than you ever imagined.....
What people sometimes fail to realize is that contributing to an employer retirement account is a luxury. Young people these days are increasingly in jobs that don't offer 401ks for their classification of employee or don't match. It's really hard to grow a $5000 IRA contribution into a million dollars. Even if they do have access to an employer plan, it's risky for them to contribute to it. If they lose their job, how will they pay the bills, how will they pay the student debt with that 10% penalty?
The instability also means they can't afford to take risks with their non-retirement accounts. If you don't take those risks, then growing your money will take a long time.
Concerning retirement accounts, from a quick google search, over half of US jobs had access to an employer retirement account...but a fairly low percentage of people bothered to contribute. Many entry level jobs now are offering these benefits as well (Starbucks immediately comes to mind).
My wife and I both grew up in rural, low-income areas. Her family worked a dairy farm; my dad worked in social services and my mom was a kindergarten teacher. Her house didn't have a shower and my house had a wood stove that we had to refill in the middle of the night in the winter. We both went to public schools. She paid her way through grad school (no debt) all the way to her PhD; I did the military route to pay for my undergrad and grad education.
I'm 40, she's 39, and I think we just hit the two-comma club in net worth, not including any equity in our house (I'd guess another 150k there).
Last but not least: if the returns to public school education are so terrible, why aren't "young people" choosing trades that pay quite well?
Re: I'm finally a millionaire....I think
You can say you are a billionaire if you like.justsomeguy2018 wrote: ↑Wed Oct 20, 2021 11:26 am Our combined HH net worth finally passed $1,000,000. I am including $110k in home equity in that calculation. Of course, the bulk of the funds are in retirement accounts that can't be touched for 20 years.
Can I still say I'm a millionaire?
There's no formal requirements for being a millionaire. If you want to include home equity, go ahead and do it.
Behind what?Are we doing ok at 40 or are we still behind??
Congratulations! Good luck with your goals going forward!For me, being a millionaire would be a big milestone even though $1M is not what it used to be. I grew up in essentially a $0 net worth household.
This isn't just my wallet. It's an organizer, a memory and an old friend.
-
- Posts: 2066
- Joined: Sun Aug 23, 2020 2:23 pm
Re: I'm finally a millionaire....I think
You are definitely a millionaire by what you describe -- congratulations!
Remember too, the first million is the hardest. As money starts to work for you, your second million will come much quicker if you stay on the path.
I was only slightly ahead achieving our HH net worth of $1M at 39. Now I'm on the back half of my 40's and achieved the second with a lot of credit to the recent bull market, rapid house appreciation in my area and some fortunate career growth. At 30 I had a negative net worth and couldn't even imagine the possibility of multi-million dollar net worth, but time and compounding is your best friend.
You are on a fantastic trajectory.
Remember too, the first million is the hardest. As money starts to work for you, your second million will come much quicker if you stay on the path.
I was only slightly ahead achieving our HH net worth of $1M at 39. Now I'm on the back half of my 40's and achieved the second with a lot of credit to the recent bull market, rapid house appreciation in my area and some fortunate career growth. At 30 I had a negative net worth and couldn't even imagine the possibility of multi-million dollar net worth, but time and compounding is your best friend.
You are on a fantastic trajectory.
Re: Time to reach 1M and 2M milestones
I merged justsomeguy2018's thread into a similar discussion.
- AnnetteLouisan
- Posts: 7261
- Joined: Sat Sep 18, 2021 10:16 pm
- Location: New York, NY
Re: Time to reach 1M and 2M milestones
Age 54
1mil- age 44
2 mil- age 55 (thats the plan anyway….., but if I had to choose one I‘d take turning 55 over the 2 mil any day.)
1mil- age 44
2 mil- age 55 (thats the plan anyway….., but if I had to choose one I‘d take turning 55 over the 2 mil any day.)
Re: Time to reach 1M and 2M milestones
1mil NW is very subjective
Think about a 50k+50k income household with dual 401k access with good match. Now think about a household with only one bread winner making 100k with no 401k access. After that think about divorce
Think about a 50k+50k income household with dual 401k access with good match. Now think about a household with only one bread winner making 100k with no 401k access. After that think about divorce
-
- Posts: 84
- Joined: Mon May 18, 2020 8:46 am
Re: Time to reach 1M and 2M milestones
$1mm, age 35
$2mm...tbd
$2mm...tbd
Re: Time to reach 1M and 2M milestones
Current Age - 42
2013 - $500K - 34 and 1 month
2015 - $1M - 36 and 9 months
2020 - $2M - 40 and 5 months
2021 - $3M - 41 and 6 months
The first $1m is the hardest, but then compounding should work it's magic! A big thank you to the Boglehead community, this journey is fun because of all the useful information on this site!
2013 - $500K - 34 and 1 month
2015 - $1M - 36 and 9 months
2020 - $2M - 40 and 5 months
2021 - $3M - 41 and 6 months
The first $1m is the hardest, but then compounding should work it's magic! A big thank you to the Boglehead community, this journey is fun because of all the useful information on this site!
Last edited by ucibob1 on Thu Oct 21, 2021 1:52 pm, edited 1 time in total.
-
- Posts: 1045
- Joined: Sat Aug 10, 2019 11:46 am
Re: Time to reach 1M and 2M milestones
Interesting, never bothered to look at this before (from a time perspective). The first two rungs on ladder took 13 years each, after that only 3-4 years per rung:
1984 = $0
1997 = $1M
2010 = $2M
2013 = $3M
2017 = $4M
2020 = $5M
1984 = $0
1997 = $1M
2010 = $2M
2013 = $3M
2017 = $4M
2020 = $5M
Re: Time to reach 1M and 2M milestones
Current Age: 39
My Personal Capital account only goes back to Dec 31, 2014, and I got a (in my opinion) very late start investing when I turned 30 (2012). Student loans + car loans + high rent kept me from contributing for the first ~8 years out of college. This progression includes home equity.
2014: $58k (Three years maxing Roth IRAs for myself and my wife + cash accounts)
2015: $156k (Finally started 401k and sold condo in HCOL county + purchased house in LCOL county nearby)
2016: $222k (Started maxing 401k + HSA)
2017: $317k
2018: $376k
2019: $501k
2020: $695k
2021 (so far): $947k
We’re on track to hit $1m in early 2022, so I’m hoping our journey to $2m takes a good deal less time, and that we hit $1m with our investments by the mid 2020s, with plans to retire in the late 2030s.
My Personal Capital account only goes back to Dec 31, 2014, and I got a (in my opinion) very late start investing when I turned 30 (2012). Student loans + car loans + high rent kept me from contributing for the first ~8 years out of college. This progression includes home equity.
2014: $58k (Three years maxing Roth IRAs for myself and my wife + cash accounts)
2015: $156k (Finally started 401k and sold condo in HCOL county + purchased house in LCOL county nearby)
2016: $222k (Started maxing 401k + HSA)
2017: $317k
2018: $376k
2019: $501k
2020: $695k
2021 (so far): $947k
We’re on track to hit $1m in early 2022, so I’m hoping our journey to $2m takes a good deal less time, and that we hit $1m with our investments by the mid 2020s, with plans to retire in the late 2030s.
- cflannagan
- Posts: 1208
- Joined: Sun Oct 21, 2007 11:44 am
- Location: Working Remotely
Re: Time to reach 1M and 2M milestones
Answering OP:
With home equity included:
With home equity included:
- Reached first $1m early part of 2019
- Already more than halfway from $1m to $2m, less than 3 years later.
- Unless stock markets tanks hard, I expect to reach $2m within the next year.
- Unless stock markets tanks hard, I expect to reach my first $1m in liquid assets within the next year.
- No idea how soon afterward I'd reach $2m in liquid assets, but I hope it's somewhere as quickly as above (for NW with home equity included, which was a bit less than 3 years).
Re: Time to reach 1M and 2M milestones
Awesome! You are doing great. Took me 17 years to get to 1M, but then things really took off. May the next. 17 years be amazing for you.cflannagan wrote: ↑Thu Oct 21, 2021 5:10 pm Answering OP:
With home equity included:
- Reached first $1m early part of 2019
- Already more than halfway from $1m to $2m, less than 3 years later.
With no home equity included:
- Unless stock markets tanks hard, I expect to reach $2m within the next year.
- Unless stock markets tanks hard, I expect to reach my first $1m in liquid assets within the next year.
You are pretty much correct, the first $1m is hardest. Took me more than a decade to get to that point, working my way up from negative net worth. Student & vehicle loans, mortgage, etc, now all those are paid off.
- No idea how soon afterward I'd reach $2m in liquid assets, but I hope it's somewhere as quickly as above (for NW with home equity included, which was a bit less than 3 years).
- cflannagan
- Posts: 1208
- Joined: Sun Oct 21, 2007 11:44 am
- Location: Working Remotely
-
- Posts: 1939
- Joined: Fri Jun 21, 2019 7:06 pm
Re: Time to reach 1M and 2M milestones
The first 1M took me 14 years and the last 1M took me 16 months.
-
- Posts: 377
- Joined: Sat Jul 29, 2017 9:17 am
Re: Time to reach 1M and 2M milestones
Fortunately, I found this forum right before seeing a sharp rise in income. The folks and resources here helped me right the ship and chart a better course. My username says it all, but compound interest works wonders.
Aug 2017 - 1st portfolio post - 108k in investments and $0 NW
July 2021 - $1M in investments and $1.2M NW
Aug 2017 - 1st portfolio post - 108k in investments and $0 NW
July 2021 - $1M in investments and $1.2M NW
Re: Time to reach 1M and 2M milestones
Damn ! How’d you do that ?! Invest in Tesla ?ASpenderInRecovery wrote: ↑Thu Oct 21, 2021 8:14 pm Fortunately, I found this forum right before seeing a sharp rise in income. The folks and resources here helped me right the ship and chart a better course. My username says it all, but compound interest works wonders.
Aug 2017 - 1st portfolio post - 108k in investments and $0 NW
July 2021 - $1M in investments and $1.2M NW
- cflannagan
- Posts: 1208
- Joined: Sun Oct 21, 2007 11:44 am
- Location: Working Remotely
Re: Time to reach 1M and 2M milestones
Something like that! At 100% VTI, I find I had to contribute something like $11k a month to get $1 million in investments!Ajcorpus wrote: ↑Thu Oct 21, 2021 10:04 pmDamn ! How’d you do that ?! Invest in Tesla ?ASpenderInRecovery wrote: ↑Thu Oct 21, 2021 8:14 pm Fortunately, I found this forum right before seeing a sharp rise in income. The folks and resources here helped me right the ship and chart a better course. My username says it all, but compound interest works wonders.
Aug 2017 - 1st portfolio post - 108k in investments and $0 NW
July 2021 - $1M in investments and $1.2M NW
-
- Posts: 1509
- Joined: Wed Oct 03, 2018 8:11 pm
Re: Time to reach 1M and 2M milestones
Do you count retirement accounts with early withdrawal penalties as liquid assets?cflannagan wrote: ↑Thu Oct 21, 2021 5:10 pm Answering OP:
With home equity included:
- Reached first $1m early part of 2019
- Already more than halfway from $1m to $2m, less than 3 years later.
With no home equity included:
- Unless stock markets tanks hard, I expect to reach $2m within the next year.
- Unless stock markets tanks hard, I expect to reach my first $1m in liquid assets within the next year.
You are pretty much correct, the first $1m is hardest. Took me more than a decade to get to that point, working my way up from negative net worth. Student & vehicle loans, mortgage, etc, now all those are paid off.
- No idea how soon afterward I'd reach $2m in liquid assets, but I hope it's somewhere as quickly as above (for NW with home equity included, which was a bit less than 3 years).
- Darth Xanadu
- Posts: 1108
- Joined: Sat Jan 27, 2018 12:47 am
- Location: MA
Re: Time to reach 1M and 2M milestones
I love this perspective, and nicely donecarminered2019 wrote: ↑Thu Oct 21, 2021 7:59 pm The first 1M took me 14 years and the last 1M took me 16 months.
- cflannagan
- Posts: 1208
- Joined: Sun Oct 21, 2007 11:44 am
- Location: Working Remotely
Re: Time to reach 1M and 2M milestones
Yes - why wouldn't I? They're still liquid assets even if I have to pay penalty.justsomeguy2018 wrote: ↑Thu Oct 21, 2021 11:12 pmDo you count retirement accounts with early withdrawal penalties as liquid assets?cflannagan wrote: ↑Thu Oct 21, 2021 5:10 pm Answering OP:
With home equity included:
- Reached first $1m early part of 2019
- Already more than halfway from $1m to $2m, less than 3 years later.
With no home equity included:
- Unless stock markets tanks hard, I expect to reach $2m within the next year.
- Unless stock markets tanks hard, I expect to reach my first $1m in liquid assets within the next year.
You are pretty much correct, the first $1m is hardest. Took me more than a decade to get to that point, working my way up from negative net worth. Student & vehicle loans, mortgage, etc, now all those are paid off.
- No idea how soon afterward I'd reach $2m in liquid assets, but I hope it's somewhere as quickly as above (for NW with home equity included, which was a bit less than 3 years).
But that's not really the point either. People tend to talk about net worth with two different definitions, one with home equity, another without. I was just going over my figures for both sides of the definition of NW.
-
- Posts: 377
- Joined: Sat Jul 29, 2017 9:17 am
Re: Time to reach 1M and 2M milestones
All index funds . I missed the Tesla and BTC run up. Then again I probably would have freaked out and sold them early anyway.Ajcorpus wrote: ↑Thu Oct 21, 2021 10:04 pmDamn ! How’d you do that ?! Invest in Tesla ?ASpenderInRecovery wrote: ↑Thu Oct 21, 2021 8:14 pm Fortunately, I found this forum right before seeing a sharp rise in income. The folks and resources here helped me right the ship and chart a better course. My username says it all, but compound interest works wonders.
Aug 2017 - 1st portfolio post - 108k in investments and $0 NW
July 2021 - $1M in investments and $1.2M NW
-
- Posts: 377
- Joined: Sat Jul 29, 2017 9:17 am
Re: Time to reach 1M and 2M milestones
On average that’s about right. It was more lumpy than that, but I just kept plowing in every dollar I could. Felt like I was making up for lost time. I was very fortunate to see a large rise in income, reduce my expenses, and have the market on my side!cflannagan wrote: ↑Thu Oct 21, 2021 10:40 pmSomething like that! At 100% VTI, I find I had to contribute something like $11k a month to get $1 million in investments!Ajcorpus wrote: ↑Thu Oct 21, 2021 10:04 pmDamn ! How’d you do that ?! Invest in Tesla ?ASpenderInRecovery wrote: ↑Thu Oct 21, 2021 8:14 pm Fortunately, I found this forum right before seeing a sharp rise in income. The folks and resources here helped me right the ship and chart a better course. My username says it all, but compound interest works wonders.
Aug 2017 - 1st portfolio post - 108k in investments and $0 NW
July 2021 - $1M in investments and $1.2M NW
-
- Posts: 36
- Joined: Sun Jan 22, 2017 12:04 pm
Re: Time to reach 1M and 2M milestones
Portfolio AA >90% equities
$1M -- 9y6m
$2M -- 3y2m
$3M -- 3y2m
$4M -- 1y10m
$5M -- 1y2m
$1M -- 9y6m
$2M -- 3y2m
$3M -- 3y2m
$4M -- 1y10m
$5M -- 1y2m
Last edited by stereotaxis on Sat Oct 30, 2021 3:20 pm, edited 2 times in total.
Re: Time to reach 1M and 2M milestones
Time to reach $1M - 166 months
24 months later we are at $1.5M and socking away as much as we can while also enjoying the journey. Thanks to this community for all the wisdom and motivation!
24 months later we are at $1.5M and socking away as much as we can while also enjoying the journey. Thanks to this community for all the wisdom and motivation!
Re: Time to reach 1M and 2M milestones
You may be behind the times. The majority of American workers plan to continue working in retirement.
Source: https://www.aarp.org/work/job-search/in ... irees.htmlWorking in retirement might seem like an oxymoron, but today’s retirees and near-retirees are redefining what it means to transition into the next phase of life. In fact, the majority of American workers (55 percent) plan to continue working in retirement, with 41 percent going part time and 14 percent full time, according to the Transamerica Center for Retirement Studies. Research cited by AARP’s Public Policy Institute shows that workers 65 and older are twice as likely to work part time as workers ages 25 to 64.
I know, I know. "If you're working, you AREN'T RETIRED!" But I'm pretty sure that the American Association of Retired People (AARP) is familiar with the concept of retirement.
Re: Time to reach 1M and 2M milestones
It took us one pandemic to go from 1M to 2M. One more and we can retire!
-
- Posts: 82
- Joined: Tue Aug 18, 2020 3:49 pm
Re: Time to reach 1M and 2M milestones
Shouldnt the net worth formula be this:
NW = all stocks from all accounts + (plus) any rental equity - (minus) outstanding primary home loan balance?
Also, 529s should not be included into NW since they will be spent by and for the kids?
[/quote]
Yes - why wouldn't I? They're still liquid assets even if I have to pay penalty.
But that's not really the point either. People tend to talk about net worth with two different definitions, one with home equity, another without. I was just going over my figures for both sides of the definition of NW.
[/quote]
NW = all stocks from all accounts + (plus) any rental equity - (minus) outstanding primary home loan balance?
Also, 529s should not be included into NW since they will be spent by and for the kids?
[/quote]
Yes - why wouldn't I? They're still liquid assets even if I have to pay penalty.
But that's not really the point either. People tend to talk about net worth with two different definitions, one with home equity, another without. I was just going over my figures for both sides of the definition of NW.
[/quote]