Post your Financial Milestone Announcements Here

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Stinky
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Re: Post your Financial Milestone Announcements Here

Post by Stinky »

41Fin wrote: Fri Jun 18, 2021 3:58 pm Small potatoes compared to 99% here but I finally managed to get out of the credit card cycle and stay out for enough time to squirrel away $5k in an emergency fund. Spent the majority of 2019 paying off 0% credit card debt and 2020 going through the cycle of paying off my card monthly just to fill it back up the next month.

Dangerous cycle but I feel pretty good to be out of it. Sadly, I couldn't even tell you where most of the money went.

Thankfully I've always had jobs with good 401k/ESOP plans so I do have $400k saved for retirement (34) but now that I'm out of the hole with a solid plan I feel a lot of stress off my plate.

Again, peanuts to what you see on BH but I'm glad to be on the journey.
Congratulations! Getting out of debt is a BIG DEAL. And having $400k in retirement savings at age 34 is very good.

I'll offer a little unsolicited advice from an old guy - You said above that you "couldn't even tell (us) where most of the money went". Do you track your spending? If so, that's great - but if not, I recommend that you start doing it, at least for a while, just so that you can see where the money is going.

Again - congratulations!
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
Investing.Newbie
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Re: Post your Financial Milestone Announcements Here

Post by Investing.Newbie »

41Fin wrote: Fri Jun 18, 2021 3:58 pm Small potatoes compared to 99% here but I finally managed to get out of the credit card cycle and stay out for enough time to squirrel away $5k in an emergency fund. Spent the majority of 2019 paying off 0% credit card debt and 2020 going through the cycle of paying off my card monthly just to fill it back up the next month.

Dangerous cycle but I feel pretty good to be out of it. Sadly, I couldn't even tell you where most of the money went.

Thankfully I've always had jobs with good 401k/ESOP plans so I do have $400k saved for retirement (34) but now that I'm out of the hole with a solid plan I feel a lot of stress off my plate.

Again, peanuts to what you see on BH but I'm glad to be on the journey.
Congratulations !! this is a BIG achievement :sharebeer Age is on your side. You are way ahead of your peers !! Wish you the very best :sharebeer
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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

41Fin wrote: Fri Jun 18, 2021 3:58 pm Small potatoes compared to 99% here but I finally managed to get out of the credit card cycle and stay out for enough time to squirrel away $5k in an emergency fund. Spent the majority of 2019 paying off 0% credit card debt and 2020 going through the cycle of paying off my card monthly just to fill it back up the next month.

Dangerous cycle but I feel pretty good to be out of it. Sadly, I couldn't even tell you where most of the money went.

Thankfully I've always had jobs with good 401k/ESOP plans so I do have $400k saved for retirement (34) but now that I'm out of the hole with a solid plan I feel a lot of stress off my plate.

Again, peanuts to what you see on BH but I'm glad to be on the journey.
Getting out of credit card debt is huge, it's not peanuts.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
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dratkinson
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Re: Post your Financial Milestone Announcements Here

Post by dratkinson »

41Fin wrote: Fri Jun 18, 2021 3:58 pm...
Dangerous cycle but I feel pretty good to be out of it. Sadly, I couldn't even tell you where most of the money went.
Congratulations on getting your CC spending under control.

Some CCs will supply a yearend statement that tells you where the money went.


Disclosure. All my monthly spending (groceries, utilities, insurance, gas,...) is on CC. But it's also set up to pay in-full monthly by ABP (automatic bill payment) tied to checking, so I don't need to think about it (to include paying the CC bill). So it's used like cash, to get the cashback. And since I have few frivolous vices, the CC spending is necessary so I don't feel I need to track it.

Now that you have your spending under control, if you keep it under control, you'll soon realize the same.
d.r.a., not dr.a. | I'm a novice investor; you are forewarned.
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luminous
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Re: Post your Financial Milestone Announcements Here

Post by luminous »

Congratulations 41Fin, getting out of debt is huge! Plus that $400k you have saved for retirement, you are on your way!
67/12/21 US stock/international stock/bonds. Bonds capped at 10x annual spending. Semi-retired as of 2022.
WhatsIRR
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Re: Post your Financial Milestone Announcements Here

Post by WhatsIRR »

Just hit $3,000,000 NW, I found an old post that brought me to BH and I was at $1.7M, decided I should start tracking and updated my numbers for June, 2021 and lo and behold it was at $3M.

It’s weird I guess because most of its tied up in 401ks that I can’t get to for years but I don’t feel like a “millionaire”.

My wife is taking a leave from the workforce for a while so our savings will slowdown for the time being.
Doc7
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Re: Post your Financial Milestone Announcements Here

Post by Doc7 »

41Fin wrote: Fri Jun 18, 2021 3:58 pm Small potatoes compared to 99% here but I finally managed to get out of the credit card cycle and stay out for enough time to squirrel away $5k in an emergency fund. Spent the majority of 2019 paying off 0% credit card debt and 2020 going through the cycle of paying off my card monthly just to fill it back up the next month.

Dangerous cycle but I feel pretty good to be out of it. Sadly, I couldn't even tell you where most of the money went.

Thankfully I've always had jobs with good 401k/ESOP plans so I do have $400k saved for retirement (34) but now that I'm out of the hole with a solid plan I feel a lot of stress off my plate.

Again, peanuts to what you see on BH but I'm glad to be on the journey.

This Is not peanuts - this is literally foundational! None of the $2M, $1M, $500K posters earlier in this thread got to where they are without getting rid of CC Debt first.
WhatsIRR
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Re: Post your Financial Milestone Announcements Here

Post by WhatsIRR »

41Fin wrote: Fri Jun 18, 2021 3:58 pm Small potatoes compared to 99% here but I finally managed to get out of the credit card cycle and stay out for enough time to squirrel away $5k in an emergency fund. Spent the majority of 2019 paying off 0% credit card debt and 2020 going through the cycle of paying off my card monthly just to fill it back up the next month.

Dangerous cycle but I feel pretty good to be out of it. Sadly, I couldn't even tell you where most of the money went.

Thankfully I've always had jobs with good 401k/ESOP plans so I do have $400k saved for retirement (34) but now that I'm out of the hole with a solid plan I feel a lot of stress off my plate.

Again, peanuts to what you see on BH but I'm glad to be on the journey.
Between your 401k, emergency fund and having credit cards under control you are light years ahead of your peers and the vast majority of Americans.

Look up the statistics for the average amount people have saved at retirement and how many people don’t have $1000 in savings.

Don’t discount yourself
Normchad
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Re: Post your Financial Milestone Announcements Here

Post by Normchad »

WhatsIRR wrote: Sat Jun 19, 2021 10:31 pm Just hit $3,000,000 NW, I found an old post that brought me to BH and I was at $1.7M, decided I should start tracking and updated my numbers for June, 2021 and lo and behold it was at $3M.

It’s weird I guess because most of its tied up in 401ks that I can’t get to for years but I don’t feel like a “millionaire”.

My wife is taking a leave from the workforce for a while so our savings will slowdown for the time being.
This is fantastic. One of the best things about all this, is that it gives you options. So your wife can leave the workforce, etc.

Congratulations on all you’ve accomplished!
retire2022
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Re: Post your Financial Milestone Announcements Here

Post by retire2022 »

Marseille07 wrote: Thu Apr 08, 2021 7:25 pm
retire2022 wrote: Thu Apr 08, 2021 7:14 pm
Grt2bOutdoors wrote: Tue Mar 17, 2020 8:05 am
retire2022 wrote: Thu Mar 12, 2020 8:24 pm
retire2022 wrote: Sun Dec 01, 2019 1:30 pm Op and all, hit 1.7 million first time ever, portfolio was considered flat and in red for 2019, now triple my annual salary 285K.

Congrats to all

retire2022
op and all topped a couple of weeks ago I hit 1.83 Million and dropped down to 1.35 Million due to Coronavirus. I'm back to 2018 levels
Easy come, easy go. It will be back eventually...
Grt2bOutdoors

Today I hit 2.4 million, and had submitted my retirement application for class of 2021 June 30, 2021 is target exit date.

:)
Congrats. Gotta grab a new handle, retire2021.
Crossed 2.509 million today first time ever, new all time high!
Marseille07
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Re: Post your Financial Milestone Announcements Here

Post by Marseille07 »

retire2022 wrote: Thu Jun 24, 2021 10:01 pm
Marseille07 wrote: Thu Apr 08, 2021 7:25 pm
retire2022 wrote: Thu Apr 08, 2021 7:14 pm
Grt2bOutdoors wrote: Tue Mar 17, 2020 8:05 am
retire2022 wrote: Thu Mar 12, 2020 8:24 pm

op and all topped a couple of weeks ago I hit 1.83 Million and dropped down to 1.35 Million due to Coronavirus. I'm back to 2018 levels
Easy come, easy go. It will be back eventually...
Grt2bOutdoors

Today I hit 2.4 million, and had submitted my retirement application for class of 2021 June 30, 2021 is target exit date.

:)
Congrats. Gotta grab a new handle, retire2021.
Crossed 2.509 million today first time ever, new all time high!
Very nice! :beer
Average Guy 007
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Perspective

Post by Average Guy 007 »

[Post merged into here --admin LadyGeek]

One of the reasons i came to this forum, was bc i like what I heard about John Bogle several years ago. He paved the way for normal people like me to have a shot at wealth building.

There are so many successful people on this site, I guess i am looking for perspective. My wife and i made mistakes early on, but fought to become 100% debt free over ten years of marriage. She is late 30s, i am mid 40s. 2 kids in grade school.

I just realized this week that our net worth hit 1M.

But I don’t feel anything but exhausted. We both came from very little. Right now, we are struggling mightily to achieve a modest upgrade in housing. She’s got some health issues we are trying to figure out. My job has grown uncertain; it will be hard to replace my income or come close to it, should anything happen. Thankful as we are, it feels like the destination of security keeps getting dragged further out to the right on the timeline.

Of course, if the last year or so has taught us anything, its that you have to be prepared for anything. But at what point can people say with relative confidence, that they will be “ok.”

Being our main bread winner, I’ve just found myself pretty tired lately. And wonder at what point i can perhaps slow things down to a jog - or at least switch from sprinting non
stop, to alternating.

I’m probably in the wrong career but thankful nonetheless. Am grateful for the modest achievements that working for decades has brought. Just feeling winded.
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Re: Post your Financial Milestone Announcements Here

Post by LadyGeek »

Average Guy 007 wrote: Mon Jun 28, 2021 8:36 am I just realized this week that our net worth hit 1M.
Welcome, and Congrats! I merged your post into the ongoing discussion.
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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

Average Guy 007 wrote: Mon Jun 28, 2021 8:36 amMy wife and i made mistakes early on, but fought to become 100% debt free over ten years of marriage. She is late 30s, i am mid 40s. 2 kids in grade school.

I just realized this week that our net worth hit 1M.
Congratulations on both of those accomplishments :D :D . That's outstanding.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
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Stinky
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Re: Perspective

Post by Stinky »

Average Guy 007 wrote: Mon Jun 28, 2021 8:36 am [Post merged into here --admin LadyGeek]

One of the reasons i came to this forum, was bc i like what I heard about John Bogle several years ago. He paved the way for normal people like me to have a shot at wealth building.

There are so many successful people on this site, I guess i am looking for perspective. My wife and i made mistakes early on, but fought to become 100% debt free over ten years of marriage. She is late 30s, i am mid 40s. 2 kids in grade school.

I just realized this week that our net worth hit 1M.

But I don’t feel anything but exhausted. We both came from very little. Right now, we are struggling mightily to achieve a modest upgrade in housing. She’s got some health issues we are trying to figure out. My job has grown uncertain; it will be hard to replace my income or come close to it, should anything happen. Thankful as we are, it feels like the destination of security keeps getting dragged further out to the right on the timeline.

Of course, if the last year or so has taught us anything, its that you have to be prepared for anything. But at what point can people say with relative confidence, that they will be “ok.”

Being our main bread winner, I’ve just found myself pretty tired lately. And wonder at what point i can perhaps slow things down to a jog - or at least switch from sprinting non
stop, to alternating.

I’m probably in the wrong career but thankful nonetheless. Am grateful for the modest achievements that working for decades has brought. Just feeling winded.
Welcome to the Forum!

And thanks for posting your story. To have hit $1 million net worth with the headwinds that you’ve faced is pretty awesome. Congratulations!

Please keep coming to the Forum, and reading and posting. You’ll find a lot of folks here who can help you on your financial journey.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
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Cranberry44
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Re: Post your Financial Milestone Announcements Here

Post by Cranberry44 »

Cranberry44 wrote: Tue Dec 29, 2020 11:26 am In 2020:
  • Decided to take control of my financial life; overcame my fear and sentimentality attached to money.
  • Tracked every penny for the entire year
  • Got a new job with a pay bump + benefits + my first pre-tax retirement account
  • Joined Bogleheads in May 2020
  • Left Raymond James and two other brokerages to consolidate at Fidelity (loving Fidelity)
  • Got my first credit card (Fido 2% cash back) paid off in full every week.
  • Began investing in the 3 fund portfolio – moving to just US and international soon
  • Maxed out my 403b 2020 contributions on 4 months of pay
  • Maxed out my Roth IRA 2020 contributions
  • Just sold my final individual stocks (yesterday 12/28) and will fully fund my 2021 Roth IRA on January 4th
  • Nearly doubled net worth in about 6 months
  • Saved over 50% of my income this year
... feeling more confident about my financial future :happy
Thanks, Bogleheads!
My taxable account hit 100k for the first time in the last couple days. :mrgreen: This account is bigger than all my tax-advantaged accounts combined, due to starting late/not know what I was doing, but I'm excited to see a 6 figure number for the first time!
Talfred
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Re: Post your Financial Milestone Announcements Here

Post by Talfred »

I reached the $100,000 mark in my Health Savings Account for the first time. It took many years (I believe I opened the account in 2007), but I feel pretty good about it. I have yet to withdraw from it, and hope to be able to continue to let it grow for a few more years.
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Stinky
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Re: Post your Financial Milestone Announcements Here

Post by Stinky »

Cranberry44 wrote: Mon Jun 28, 2021 12:21 pm
Cranberry44 wrote: Tue Dec 29, 2020 11:26 am In 2020:
  • Decided to take control of my financial life; overcame my fear and sentimentality attached to money.
  • Tracked every penny for the entire year
  • Got a new job with a pay bump + benefits + my first pre-tax retirement account
  • Joined Bogleheads in May 2020
  • Left Raymond James and two other brokerages to consolidate at Fidelity (loving Fidelity)
  • Got my first credit card (Fido 2% cash back) paid off in full every week.
  • Began investing in the 3 fund portfolio – moving to just US and international soon
  • Maxed out my 403b 2020 contributions on 4 months of pay
  • Maxed out my Roth IRA 2020 contributions
  • Just sold my final individual stocks (yesterday 12/28) and will fully fund my 2021 Roth IRA on January 4th
  • Nearly doubled net worth in about 6 months
  • Saved over 50% of my income this year
... feeling more confident about my financial future :happy
Thanks, Bogleheads!
My taxable account hit 100k for the first time in the last couple days. :mrgreen: This account is bigger than all my tax-advantaged accounts combined, due to starting late/not know what I was doing, but I'm excited to see a 6 figure number for the first time!
Congratulations!

It sounds like you’re on a roll. Keep it up, and keep us updated!
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
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Re: Post your Financial Milestone Announcements Here

Post by HootingSloth »

With today's paycheck, we hit my particular version of "CoastFI." This is a pretty convoluted milestone, but one that is psychologically important for me since I have been tracking and anticipating it for several years now.

I have a cell in my spreadsheet that tries to provide a conservative estimate of how much we will have available to spend if we retire at our target retirement date (about 22 years from now) based on what we have saved so far. It uses the following assumptions:
  • My wife and I both immediately lose our jobs.
  • As a result, my wife only gets the portion of her pension that has already vested
  • We both remain unemployed for about two years while we spend down our emergency fund and our bonds
  • We eventually find employment again, but it only pays enough to fund our lifestyle and not enough to do any more saving
  • Stocks have 1/CAPE real returns until our retirement, and we withdraw 1/CAPE each year in retirement
  • No Social Security fix happens, so benefits are cut about 25%
For this purpose, CAPE means the current Schiller's CAPE but adjusted to try to reflect my global portfolio of stocks (32.5 this morning instead of 38.1 for US-only CAPE). I also try to adjust by subtracting out an estimate of the increased cost of healthcare insurance in retirement, but obviously this is just a guess.

This morning, the spreadsheet cell showed that, under those assumptions, we should have enough to maintain our current standard of living throughout retirement.
Global Market Portfolio + modest tilt towards volatility (80/20->60/40 as approach FI) + modest tilt away from exchange rate risk (80% global+20% U.S. stocks; currency-hedge bonds) + tax optimization
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Re: Post your Financial Milestone Announcements Here

Post by mikejuss »

Talfred wrote: Mon Jun 28, 2021 8:44 pm I reached the $100,000 mark in my Health Savings Account for the first time. It took many years (I believe I opened the account in 2007), but I feel pretty good about it. I have yet to withdraw from it, and hope to be able to continue to let it grow for a few more years.
That's really impressive--given the strict limits on yearly HSA contributions. :beer
50% VTSAX | 25% VTIAX | 25% VBTLX (retirement), 25% VTEAX (taxable)
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Darth Xanadu
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Re: Post your Financial Milestone Announcements Here

Post by Darth Xanadu »

HootingSloth wrote: Wed Jun 30, 2021 7:54 am With today's paycheck, we hit my particular version of "CoastFI."

we should have enough to maintain our current standard of living throughout retirement.
Congratulations, this must be an enormously liberating feeling!
Wannaretireearly
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Re: Post your Financial Milestone Announcements Here

Post by Wannaretireearly »

Darth Xanadu wrote: Wed Jun 30, 2021 8:29 am
HootingSloth wrote: Wed Jun 30, 2021 7:54 am With today's paycheck, we hit my particular version of "CoastFI."

we should have enough to maintain our current standard of living throughout retirement.
Congratulations, this must be an enormously liberating feeling!
+1! Nice job, and totally logical explanation 👍
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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

Wannaretireearly wrote: Wed Jun 30, 2021 8:37 am
Darth Xanadu wrote: Wed Jun 30, 2021 8:29 am
HootingSloth wrote: Wed Jun 30, 2021 7:54 am With today's paycheck, we hit my particular version of "CoastFI."

we should have enough to maintain our current standard of living throughout retirement.
Congratulations, this must be an enormously liberating feeling!
+1! Nice job, and totally logical explanation 👍
+ 2

Congratulations :D .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
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Stinky
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Re: Post your Financial Milestone Announcements Here

Post by Stinky »

HootingSloth wrote: Wed Jun 30, 2021 7:54 am With today's paycheck, we hit my particular version of "CoastFI." This is a pretty convoluted milestone, but one that is psychologically important for me since I have been tracking and anticipating it for several years now.

I have a cell in my spreadsheet that tries to provide a conservative estimate of how much we will have available to spend if we retire at our target retirement date (about 22 years from now) based on what we have saved so far. It uses the following assumptions:
  • My wife and I both immediately lose our jobs.
  • As a result, my wife only gets the portion of her pension that has already vested
  • We both remain unemployed for about two years while we spend down our emergency fund and our bonds
  • We eventually find employment again, but it only pays enough to fund our lifestyle and not enough to do any more saving
  • Stocks have 1/CAPE real returns until our retirement, and we withdraw 1/CAPE each year in retirement
  • No Social Security fix happens, so benefits are cut about 25%
For this purpose, CAPE means the current Schiller's CAPE but adjusted to try to reflect my global portfolio of stocks (32.5 this morning instead of 38.1 for US-only CAPE). I also try to adjust by subtracting out an estimate of the increased cost of healthcare insurance in retirement, but obviously this is just a guess.

This morning, the spreadsheet cell showed that, under those assumptions, we should have enough to maintain our current standard of living throughout retirement.
You’ve done some pretty complex, and very conservative, modeling here. It’s showing a good result for you - you’re in good shape even if a lot of bad (financial) things happen to you and DW.

Congratulations on getting to this point!

I expect it will be even more gratifying to you when many or all of the “bad” things in your list don’t come to pass, and you’re able to retire very comfortably.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
HootingSloth
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Re: Post your Financial Milestone Announcements Here

Post by HootingSloth »

ruralavalon wrote: Wed Jun 30, 2021 10:22 am
Wannaretireearly wrote: Wed Jun 30, 2021 8:37 am
Darth Xanadu wrote: Wed Jun 30, 2021 8:29 am
HootingSloth wrote: Wed Jun 30, 2021 7:54 am With today's paycheck, we hit my particular version of "CoastFI."

we should have enough to maintain our current standard of living throughout retirement.
Congratulations, this must be an enormously liberating feeling!
+1! Nice job, and totally logical explanation 👍
+ 2
Congratulations :D .
Thanks, all. It is a good feeling. The approach is logical to me, but I bet that if I tried to explain it to a non-Boglehead, they would think I'm crazy!
Stinky wrote: Wed Jun 30, 2021 10:28 am You’ve done some pretty complex, and very conservative, modeling here. It’s showing a good result for you - you’re in good shape even if a lot of bad (financial) things happen to you and DW.

Congratulations on getting to this point!

I expect it will be even more gratifying to you when many or all of the “bad” things in your list don’t come to pass, and you’re able to retire very comfortably.
Thanks, Stinky. That's certainly what I'm hoping!
Global Market Portfolio + modest tilt towards volatility (80/20->60/40 as approach FI) + modest tilt away from exchange rate risk (80% global+20% U.S. stocks; currency-hedge bonds) + tax optimization
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Re: Post your Financial Milestone Announcements Here

Post by canidothat »

I'm not sure if this is super noteworthy, but I'm finally free from my college student debt at 28!!! Super happy to start earning for myself now :D
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lostdog
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Re: Post your Financial Milestone Announcements Here

Post by lostdog »

canidothat wrote: Thu Jul 01, 2021 11:19 am I'm not sure if this is super noteworthy, but I'm finally free from my college student debt at 28!!! Super happy to start earning for myself now :D
Congrats!
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canidothat
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Re: Post your Financial Milestone Announcements Here

Post by canidothat »

lostdog wrote: Thu Jul 01, 2021 11:34 am
canidothat wrote: Thu Jul 01, 2021 11:19 am I'm not sure if this is super noteworthy, but I'm finally free from my college student debt at 28!!! Super happy to start earning for myself now :D
Congrats!
Thank you, stranger!!! It only took a pandemic and a few depressive episodes, but I'm happy to be free! :moneybag :moneybag :sharebeer
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KlangFool
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Re: Post your Financial Milestone Announcements Here

Post by KlangFool »

Folks,

Unemployed. My 60/40 portfolio went up 7.4% YTD. It is about 2 years of expense.

KlangFool
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

canidothat wrote: Thu Jul 01, 2021 11:19 am I'm not sure if this is super noteworthy, but I'm finally free from my college student debt at 28!!! Super happy to start earning for myself now :D
Congratulations :D .

That is very "noteworthy" .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
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Stinky
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Re: Post your Financial Milestone Announcements Here

Post by Stinky »

canidothat wrote: Thu Jul 01, 2021 11:19 am I'm not sure if this is super noteworthy, but I'm finally free from my college student debt at 28!!! Super happy to start earning for myself now :D
I'm glad for you that the anchor of student loan debt has been taken off your back. I'm sure that it's a huge relief.

You can now direct your (former) loan payments to building your financial future.

Congratulations!
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
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Re: Post your Financial Milestone Announcements Here

Post by barnaclebob »

The first number in my net worth changed for the better with today's monthy tally.

Image

About 10% is inheritance. Lucky to not have student loans and good jobs out of college in 2008/9 which allowed us to buy a house at near the bottom.

Both salaries started at 60k and have steadily increased to 125k. Child coming in 4 months...well see how that changes our savings rate.
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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

barnaclebob wrote: Thu Jul 01, 2021 3:14 pm The first number in my net worth changed for the better with today's monthy tally.

Image

About 10% is inheritance. Lucky to not have student loans and good jobs out of college in 2008/9 which allowed us to buy a house at near the bottom.

Both salaries started at 60k and have steadily increased to 125k. Child coming in 4 months...well see how that changes our savings rate.
Congratulations on joining the two comma club :D , and on your imminent child :D .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
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luminous
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Re: Post your Financial Milestone Announcements Here

Post by luminous »

KlangFool wrote: Thu Jul 01, 2021 11:48 am Folks,

Unemployed. My 60/40 portfolio went up 7.4% YTD. It is about 2 years of expense.

KlangFool
Wow. So, are you unemployed or retired now? :D
67/12/21 US stock/international stock/bonds. Bonds capped at 10x annual spending. Semi-retired as of 2022.
EnjoyIt
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Re: Post your Financial Milestone Announcements Here

Post by EnjoyIt »

Talfred wrote: Mon Jun 28, 2021 8:44 pm I reached the $100,000 mark in my Health Savings Account for the first time. It took many years (I believe I opened the account in 2007), but I feel pretty good about it. I have yet to withdraw from it, and hope to be able to continue to let it grow for a few more years.
Congrats...This is great. I sometimes like to think that our HSA is the bridge between early retirement and Medicare where the HSA covers our deductibles during that time. I fully realize though that money is fungible, but it is still nice to realize what the HSA can cover.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
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canidothat
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Re: Post your Financial Milestone Announcements Here

Post by canidothat »

ruralavalon wrote: Thu Jul 01, 2021 1:26 pm
canidothat wrote: Thu Jul 01, 2021 11:19 am I'm not sure if this is super noteworthy, but I'm finally free from my college student debt at 28!!! Super happy to start earning for myself now :D
Congratulations :D .

That is very "noteworthy" .
Thank youuuuu kind stranger, how can I quote multiple people at once I don't want to flood this thread :confused
snapping moments–one bajillion buttons at a time
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canidothat
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Re: Post your Financial Milestone Announcements Here

Post by canidothat »

Stinky wrote: Thu Jul 01, 2021 1:50 pm
canidothat wrote: Thu Jul 01, 2021 11:19 am I'm not sure if this is super noteworthy, but I'm finally free from my college student debt at 28!!! Super happy to start earning for myself now :D
I'm glad for you that the anchor of student loan debt has been taken off your back. I'm sure that it's a huge relief.

You can now direct your (former) loan payments to building your financial future.

Congratulations!
Having the burden to send myself to school for the majority of my life, I feel like this is when my life actually begins. I can order wine without feeling guilty now! :D Thank you!
snapping moments–one bajillion buttons at a time
KlangFool
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Re: Post your Financial Milestone Announcements Here

Post by KlangFool »

luminous wrote: Fri Jul 02, 2021 12:48 am
KlangFool wrote: Thu Jul 01, 2021 11:48 am Folks,

Unemployed. My 60/40 portfolio went up 7.4% YTD. It is about 2 years of expense.

KlangFool
Wow. So, are you unemployed or retired now? :D
I am Financially Independent.

KlangFool
30% VWENX | 16% VFWAX/VTIAX | 14.5% VTSAX | 19.5% VBTLX | 10% VSIAX/VTMSX/VSMAX | 10% VSIGX| 30% Wellington 50% 3-funds 20% Mini-Larry
Triple digit golfer
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Re: Post your Financial Milestone Announcements Here

Post by Triple digit golfer »

I suppose this is sort of a milestone.

Taking my annual expenses needed to retire today and assuming a 3.5% withdrawal rate, today my portfolio exceeded 50% of my "number."

I'm assuming that I'll need 28.6 years of expenses to retire (100 divided by 3.5), and currently my portfolio is at 14.31 years. That's a conservative estimate, so in reality I'm probably at about 52-54%.

So I suppose in portfolio value, I'm halfway to retirement. In time, I hope I'm more than halfway. We'll see what the next decade brings in terms of returns.
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Stinky
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Re: Post your Financial Milestone Announcements Here

Post by Stinky »

Triple digit golfer wrote: Fri Jul 02, 2021 12:58 pm I suppose this is sort of a milestone.

Taking my annual expenses needed to retire today and assuming a 3.5% withdrawal rate, today my portfolio exceeded 50% of my "number."

I'm assuming that I'll need 28.6 years of expenses to retire (100 divided by 3.5), and currently my portfolio is at 14.31 years. That's a conservative estimate, so in reality I'm probably at about 52-54%.

So I suppose in portfolio value, I'm halfway to retirement. In time, I hope I'm more than halfway. We'll see what the next decade brings in terms of returns.
Congratulations! That is a big deal.

Let me put a positive spin on this. At the current time, a large part of your savings represents money that YOU have contributed.

But now that you’ve accumulated a sizable nest egg, Mr Market and Mr Compound Interest will increase their impact on your portfolio. That’s the magic of saving early and in significant amounts - you now have two “friends” to help you achieve your final savings goal.

Once again, congratulations.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
msjohn07
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Re: Post your Financial Milestone Announcements Here

Post by msjohn07 »

msjohn07 wrote: Fri Apr 02, 2021 12:03 pm Updated my wife (32) and I (37) balance sheet yesterday. Finally broke the 2 comma club with home equity. Feel like the plan is finally rolling.

1.05M :mrgreen:

Next step, 2 comma club on investments only. Hopefully by the end of the year.
Update from the above post. After going over the 2nd quarter account updates, hit the 2 comma club (investments only) :-D . Faster than expected, onto the next!
Triple digit golfer
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Re: Post your Financial Milestone Announcements Here

Post by Triple digit golfer »

Stinky wrote: Fri Jul 02, 2021 1:11 pm
Triple digit golfer wrote: Fri Jul 02, 2021 12:58 pm I suppose this is sort of a milestone.

Taking my annual expenses needed to retire today and assuming a 3.5% withdrawal rate, today my portfolio exceeded 50% of my "number."

I'm assuming that I'll need 28.6 years of expenses to retire (100 divided by 3.5), and currently my portfolio is at 14.31 years. That's a conservative estimate, so in reality I'm probably at about 52-54%.

So I suppose in portfolio value, I'm halfway to retirement. In time, I hope I'm more than halfway. We'll see what the next decade brings in terms of returns.
Congratulations! That is a big deal.

Let me put a positive spin on this. At the current time, a large part of your savings represents money that YOU have contributed.

But now that you’ve accumulated a sizable nest egg, Mr Market and Mr Compound Interest will increase their impact on your portfolio. That’s the magic of saving early and in significant amounts - you now have two “friends” to help you achieve your final savings goal.

Once again, congratulations.
Thanks! I (I should say "we," as I've been with my wife for 8 now) got here in 14 years. I'm hoping to work another 10, retire at 46 and call it a career. If we have returns anywhere near the last 14, that shouldn't be a problem. Even with low returns (which I fully expect), with a good savings rate, we'll get there.

:sharebeer
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Stinky
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Re: Post your Financial Milestone Announcements Here

Post by Stinky »

Triple digit golfer wrote: Fri Jul 02, 2021 2:37 pm Thanks! I (I should say "we," as I've been with my wife for 8 now) got here in 14 years. I'm hoping to work another 10, retire at 46 and call it a career. If we have returns anywhere near the last 14, that shouldn't be a problem. Even with low returns (which I fully expect), with a good savings rate, we'll get there.

:sharebeer
It’s excellent that you hope to be in a position to retire at age 46.

FWIW - I personally found the years after I reached age 50 to be the most rewarding of my career. Professionally, personally, and financially. (Of course, YMMV.)
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
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Re: Post your Financial Milestone Announcements Here

Post by Darth Xanadu »

As of market close today, my own retirement accounts (401k + Roth IRA, in my case) crossed $1M. Also happened to max out my 401k for the year with my June 30 paycheck...this makes 7 straight years of maxing out.

This total balance is about 47% Roth status. I will say there were at least a few years where I was making Roth 401k contributions when it was (likely) not beneficial for me, but this was before this terrific community helped me to understand how to think about and evaluate things like that.

DX
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Re: Post your Financial Milestone Announcements Here

Post by davidsorensen32 »

0.9M --> 3M networth in 6 years with $125 x 2 = $250k salary ? VTSAX only up $49 -> $109 i.e. 2.2x . OP, you must have done really well with stocks or crypto. Happy for you.
barnaclebob wrote: Thu Jul 01, 2021 3:14 pm The first number in my net worth changed for the better with today's monthy tally.

Image

About 10% is inheritance. Lucky to not have student loans and good jobs out of college in 2008/9 which allowed us to buy a house at near the bottom.

Both salaries started at 60k and have steadily increased to 125k. Child coming in 4 months...well see how that changes our savings rate.
sc9182
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Re: Post your Financial Milestone Announcements Here

Post by sc9182 »

davidsorensen32 wrote: Fri Jul 02, 2021 9:22 pm 0.9M --> 3M networth in 6 years with $125 x 2 = $250k salary ? VTSAX only up $49 -> $109 i.e. 2.2x . OP, you must have done really well with stocks or crypto. Happy for you.
barnaclebob wrote: Thu Jul 01, 2021 3:14 pm The first number in my net worth changed for the better with today's monthy tally.

Image

About 10% is inheritance. Lucky to not have student loans and good jobs out of college in 2008/9 which allowed us to buy a house at near the bottom.

Both salaries started at 60k and have steadily increased to 125k. Child coming in 4 months...well see how that changes our savings rate.
I feel this may be perfect storm of SUCCESS - maxing two 401k (prolly good company match too), considerable raise in home equity, great market returns since 2016 data-shown, good amount of inheritance (250k or higher!?) prior to-2016 — and adding steady contributions to brokerage, and keeping it all invested— super !! Sincere form of LBYM, and disciplined investing. Kudos ..
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kinetic2255
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Re: Post your Financial Milestone Announcements Here

Post by kinetic2255 »

Just calculated our networth for the quarter and we hit the 2 comma club! I really wanted to hit this number before 40 and we did. A huge thank you to this forum for the guidance and reshaping our future! Like many the folks that have posted this seems a bit anti-climatic, maybe since the goalpost has already moved to 2 commas without counting home equity.

Challenges:
  • Pre-school/childcare for 2:3 children
  • Cash flowing home repairs (approximately $200k)
  • Wife working about 1/2 time during last 7 years
  • Salary increases have slowed
Our keys:
  • Taking a leap of faith selling our house for a loss in 2013 and buying a rough looking house in a great location. 7 years of sweat equity and its working out fine.
  • Saving between 25-30% of gross a year for the last 9 years
  • Avoided most lifestyle creep, although taxes and insurance are expensive in our area.
  • Market conditions for housing and the have been more than generous, not counting on this in the future
  • DW and I align on 95% of our financial goals
I currently use home equity in our calculation using a very conservative estimate based on an appraisal from 2018 and take out a big chunk for a new septic, relator fees, repairs etc. It accounts for about 27% of the net worth number. Based on the ga-ga housing market we could add at least another $200k to the number but I'm ignoring it as noise, gotta live somewhere.

Our year over year increase is more than my first 8 years of my W2 earnings!! Remarkable, never would have expected that.
We are going to keep plugging along but plan on loosening things up a bit to enjoy the family in our 40's. :sharebeer
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Stinky
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Re: Post your Financial Milestone Announcements Here

Post by Stinky »

Darth Xanadu wrote: Fri Jul 02, 2021 9:12 pm As of market close today, my own retirement accounts (401k + Roth IRA, in my case) crossed $1M. Also happened to max out my 401k for the year with my June 30 paycheck...this makes 7 straight years of maxing out.

This total balance is about 47% Roth status. I will say there were at least a few years where I was making Roth 401k contributions when it was (likely) not beneficial for me, but this was before this terrific community helped me to understand how to think about and evaluate things like that.

DX
Congratulations on reaching $1 million!

And special kudos on maxing out your 401(k). Workplace plans are an excellent way to build wealth, and you’re wise to make maximum use of yours.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
barnaclebob
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Re: Post your Financial Milestone Announcements Here

Post by barnaclebob »

davidsorensen32 wrote: Fri Jul 02, 2021 9:22 pm 0.9M --> 3M networth in 6 years with $125 x 2 = $250k salary ? VTSAX only up $49 -> $109 i.e. 2.2x . OP, you must have done really well with stocks or crypto. Happy for you.
barnaclebob wrote: Thu Jul 01, 2021 3:14 pm The first number in my net worth changed for the better with today's monthy tally.

Image

About 10% is inheritance. Lucky to not have student loans and good jobs out of college in 2008/9 which allowed us to buy a house at near the bottom.

Both salaries started at 60k and have steadily increased to 125k. Child coming in 4 months...well see how that changes our savings rate.
The only individual stock we held was our megacorp, non tech, company stock (5-10% of 401k's). It did about twice as good as the SP500 up until the pandemic and was then hit hard. But automatic re balancing may have given us a boost by buying when it was really low. Otherwise our housing value has done well. No rentals, but about 500k in gains have come from our house. The rest of our investments are index funds. No market timing of any kind. 401k is not including taxes so maybe that takes us down a few hundred thousand in real money terms. I just don't know what our tax rate will be and net worth is just a rough tracking tool.

We have a very high savings rate due to being DINK's for now. 30% directly into 401k's. Monthly credit card bill is about $2600, escrow and interest is $1450 per month, and maybe $250 of bills come straight out of the checking account. I think our effective tax rate is about 18% (no state taxes) which is 3750/month, Medicare/SS is 700/month. That nets to a roughly 58%% savings rate + 6% company match is about 64% total.

I have trouble figuring out how people spend so much money. We buy stuff as we need it but a lot of what we tend to buy is equipment or tools to support DIY activities which reduce other normal life expenses. For example we own a modest boat ($20k) and keep it at a marina which is expensive, $420/month inc in the CC bill . But we use that boat to fish, and we fish a lot in summer including a couple days during the work week. We are eating some of the best seafood in the world 3 or 4 nights a week that we didn't have to buy at the grocery store. Prior to having the boat we'd spend a couple thousand a year on fishing charters. 2 seats on a tuna boat is $1200 but we came home with about 120lbs of tuna lions after our last trip. That's a meal a week for about 2 years and a weekend vacation all in one.

We'll spend several hundred dollars a year on supplies for our vegetable garden which also feeds us 5 or 6 months a year. I spent $200 on upgrading 4 top of the line tomato cages this year. Yes I might be eating a big pile of snow peas 3 nights a week but they taste great so why not. Frequently during the growing season our grocery expenses are $30 a week for some lunch meat, a little bit of fruit (production isn't up to full speed at home), milk, and yogurt.

$300 on a new tool so I don't have to take the cars that we try to keep for 15 or 20 years or our boat to a mechanic, yeah no problem. $80 for a pair of pants, WTF no. I frequently find brand new banana republic khakis at value village for $8.

But having a kid is going to divert a lot of the time and energy needed for these kinds of activities a lot. We'll see what we can maintain. I'm guessing there wont be as much time to fish but we've got a couple relatives that hunt more elk and deer than they need.
runner540
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Re: Post your Financial Milestone Announcements Here

Post by runner540 »

barnaclebob wrote: Tue Jul 06, 2021 10:04 am
I have trouble figuring out how people spend so much money. We buy stuff as we need it ...
But having a kid is going to divert a lot of the time and energy needed for these kinds of activities a lot. We'll see what we can maintain. I'm guessing there wont be as much time to fish but we've got a couple relatives that hunt more elk and deer than they need.
Congrats on the impending arrival. Please, please come back in a year and update us on how your lifestyle and budget have changed (or not). We had a similar income and high savings before kids but baby, a house and job change have changed the math, and we depend on tight monthly budgets to continue progressing to our next milestones. :sharebeer
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