Sorry, yes I was liabilities > assets. Will do public service loan forgiveness but aggressively save in parallel.
Post your Financial Milestone Announcements Here
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Re: Post your Financial Milestone Announcements Here
Last edited by novemberrain on Tue Aug 17, 2021 10:53 pm, edited 1 time in total.
- familythriftmd
- Posts: 772
- Joined: Fri Sep 18, 2020 10:15 am
- Location: Wisconsin
Re: Post your Financial Milestone Announcements Here
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Re: Post your Financial Milestone Announcements Here
[Long time listener, first time caller]
In our early 30's with two kids under 2, my wife and I have reached $890k ($750k liquid and $140k home equity).
I'm becoming aware of the need to remind myself to be proud of where we are as the inevitable "next" goal/barrier/concern always creates tunnel vision. Five years ago me would be ecstatic with our progress and "success" at this point. The battle of perspective and harvesting satisfaction on the journey becomes the objective.
Can we stay off the hedonic treadmill and remain satisfied with our perfectly comfortable home and lifestyle?
How will I pull back from the financial optimizing and redirect time/money/emotional energy to family and self?
What does financial "growth" look like in my future - more zeroes in the brokerage accounts? A spacious home offering more luxury and comfort? Land for my family roam?
I look forward to exploring these questions and thank every member of this forum for the immeasurable impact on my motivation, education, perspective.
In our early 30's with two kids under 2, my wife and I have reached $890k ($750k liquid and $140k home equity).
I'm becoming aware of the need to remind myself to be proud of where we are as the inevitable "next" goal/barrier/concern always creates tunnel vision. Five years ago me would be ecstatic with our progress and "success" at this point. The battle of perspective and harvesting satisfaction on the journey becomes the objective.
Can we stay off the hedonic treadmill and remain satisfied with our perfectly comfortable home and lifestyle?
How will I pull back from the financial optimizing and redirect time/money/emotional energy to family and self?
What does financial "growth" look like in my future - more zeroes in the brokerage accounts? A spacious home offering more luxury and comfort? Land for my family roam?
I look forward to exploring these questions and thank every member of this forum for the immeasurable impact on my motivation, education, perspective.
Re: Post your Financial Milestone Announcements Here
Congratulations! That is some fantastic savings success. Sounds like you are asking yourself all the right and tough questions. The hedonic treadmill is definitely one I struggle with as well. Welcome to the forum.bigriverexpress wrote: ↑Tue Aug 17, 2021 3:36 am [Long time listener, first time caller]
In our early 30's with two kids under 2, my wife and I have reached $890k ($750k liquid and $140k home equity).
I'm becoming aware of the need to remind myself to be proud of where we are as the inevitable "next" goal/barrier/concern always creates tunnel vision. Five years ago me would be ecstatic with our progress and "success" at this point. The battle of perspective and harvesting satisfaction on the journey becomes the objective.
Can we stay off the hedonic treadmill and remain satisfied with our perfectly comfortable home and lifestyle?
How will I pull back from the financial optimizing and redirect time/money/emotional energy to family and self?
What does financial "growth" look like in my future - more zeroes in the brokerage accounts? A spacious home offering more luxury and comfort? Land for my family roam?
I look forward to exploring these questions and thank every member of this forum for the immeasurable impact on my motivation, education, perspective.
67/12/21 US stock/international stock/bonds. Bonds capped at 10x annual spending. Semi-retired as of 2022.
Re: Post your Financial Milestone Announcements Here
Welcome to the Forum!bigriverexpress wrote: ↑Tue Aug 17, 2021 3:36 am [Long time listener, first time caller]
In our early 30's with two kids under 2, my wife and I have reached $890k ($750k liquid and $140k home equity).
I'm becoming aware of the need to remind myself to be proud of where we are as the inevitable "next" goal/barrier/concern always creates tunnel vision. Five years ago me would be ecstatic with our progress and "success" at this point. The battle of perspective and harvesting satisfaction on the journey becomes the objective.
Can we stay off the hedonic treadmill and remain satisfied with our perfectly comfortable home and lifestyle?
How will I pull back from the financial optimizing and redirect time/money/emotional energy to family and self?
What does financial "growth" look like in my future - more zeroes in the brokerage accounts? A spacious home offering more luxury and comfort? Land for my family roam?
I look forward to exploring these questions and thank every member of this forum for the immeasurable impact on my motivation, education, perspective.
You’ve doing great! Being in your early 30s with a net worth approaching $1 million is fantastic. You’re clearly living below your income.
I’d encourage you to post your portfolio and financial situation using the prescribed format. You’ll get a lot of good feedback from smart, thoughtful folks. They’ll be able to help you level-set and chart a path forward.
I’d also encourage you to focus on your family. With a wife and two kids under 2, you definitely have your hands full. These early years are developmentally important for your kids, and I’d hate to see you over-work or over-focus on your finances to the detriment of your family. Many years ago, we had three children under age 2, and I understand and can relate to what you must be feeling. Focus on the family - you won’t regret it.
Again, congratulations on your financial success.
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
Hello Everyone,
First time posting as a Boglehead. Before posting my milestone, I'd like to thank the group for hours of informative and entertaining reading. When I found this site, I was amazed at the wide range of topics discussed here. So much good information.
Anyway, on to the milestone.
DW and I sold our RV yesterday and that put our savings and investments over 1 million for the first time ever.
We are both 55, so it was not a quick journey, but it sure felt good to get there. It's really just a number that doesn't mean much without the context of spending, but I can tell you that when we married over 30 years ago , we never thought we would see this day.
So we logged the number in our finance book and immediately transferred enough $ to payoff our home, land, and a small car loan.
Now we are no longer millionaires
Back down to $930K, but we should re-reach the goal soon. Now that we are out of debt and still working, our monthly expenses are $2700 while our gross income is $13,750.
Next step is to start allocating $ towards equities and find an asset allocation we can both live with going forward.
Take Care Bogleheads.
First time posting as a Boglehead. Before posting my milestone, I'd like to thank the group for hours of informative and entertaining reading. When I found this site, I was amazed at the wide range of topics discussed here. So much good information.
Anyway, on to the milestone.
DW and I sold our RV yesterday and that put our savings and investments over 1 million for the first time ever.
We are both 55, so it was not a quick journey, but it sure felt good to get there. It's really just a number that doesn't mean much without the context of spending, but I can tell you that when we married over 30 years ago , we never thought we would see this day.
So we logged the number in our finance book and immediately transferred enough $ to payoff our home, land, and a small car loan.
Now we are no longer millionaires
Back down to $930K, but we should re-reach the goal soon. Now that we are out of debt and still working, our monthly expenses are $2700 while our gross income is $13,750.
Next step is to start allocating $ towards equities and find an asset allocation we can both live with going forward.
Take Care Bogleheads.
- ruralavalon
- Posts: 26353
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- Location: Illinois
Re: Post your Financial Milestone Announcements Here
Welcome to the forum .
Congratulations on paying off your debt.
Congratulations on joining the two comma club, even if only temporarily.QuietYurMind wrote: ↑Tue Aug 17, 2021 1:22 pm . . . . .
Anyway, on to the milestone.
DW and I sold our RV yesterday and that put our savings and investments over 1 million for the first time ever.
. . . . .
So we logged the number in our finance book and immediately transferred enough $ to payoff our home, land, and a small car loan.
Now we are no longer millionaires
Back down to $930K, but we should re-reach the goal soon. Now that we are out of debt and still working, our monthly expenses are $2700 while our gross income is $13,750.
. . . ..
Congratulations on paying off your debt.
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
- dratkinson
- Posts: 6116
- Joined: Thu Jul 26, 2007 6:23 pm
- Location: Centennial CO
Re: Post your Financial Milestone Announcements Here
Ditto.ruralavalon wrote: ↑Tue Aug 17, 2021 2:01 pm Welcome to the forum .
Congratulations on joining the two comma club, even if only temporarily.QuietYurMind wrote: ↑Tue Aug 17, 2021 1:22 pm . . . . .
Anyway, on to the milestone.
DW and I sold our RV yesterday and that put our savings and investments over 1 million for the first time ever.
. . . . .
So we logged the number in our finance book and immediately transferred enough $ to payoff our home, land, and a small car loan.
Now we are no longer millionaires
Back down to $930K, but we should re-reach the goal soon. Now that we are out of debt and still working, our monthly expenses are $2700 while our gross income is $13,750.
. . . ..
Congratulations on paying off your debt.
Welcome.
d.r.a., not dr.a. | I'm a novice investor; you are forewarned.
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Re: Post your Financial Milestone Announcements Here
(This entire year has been a milestone for me behaviorally-speaking. Until recently, I literally didn't know what 90% of the following list even meant!)
Bogleheads,
Its been a busy year since joining the forum and I stop here daily for a drink of the Kool-Aid!
Here's the back of my baseball card so far... all thanks to you:
- Added tax and fee efficient ETFs to taxable (VTI, VUXS) while exiting a mish mosh of ill-advised, pre-Boglehead equities and mutual funds
- Set up Treasury Direct for emergency fund; taxable as EF had become too large, risky and lacked clear intent (effectively all 'funny money')
- Will perform my first tax loss harvest (TLH) this year per the above
- Dropped wife's high-ER TDFs in favor of low-cost Vanguard & Fidelity index funds and mirrored the TDF AAs (~ 70 bps savings x2 accounts)
- Removed Bonds from 2x Roth accounts to maximize long term, tax-free growth (upped pre-tax account bond mix to keep AA in check)
- Got library app and listened to a dozen FREE audiobooks: Larimore, Lindauer, Ferri, Zweig, Malkiel, Bogle, Bernstein, Clements, etc.
- Upped wife's 403(b) contributions to the max ("until it hurts")
- Upped contributions to 2x Roth accounts after a long dry spell ("until it hurts")
- Stopped contributing to 529s (optimizing investment sequence.. hope to restart with future pay raises)
- Contacted estate attorney to complete long-overdue will & trust
- Finally read and understand my workplace pension plan literature and how it will impact my portfolio needs (as they are today)
- Opened Fidelity cash management account & 2% rewards card for fee-less cash withdraws overseas and true 'one stop shopping'
- All income, expenses, assets & liabilities now in Mint for tracking on the app (we don't follow a budget but do LBYM)
- Built detailed rebalancing spreadsheet to monitor risk across accounts and direct moves ('stay the course', 'nobody knows nothing')
- Best for last: Wrote a simple IPS
Surely there's more but you get the idea...
With gratitude,
Silversides
Bogleheads,
Its been a busy year since joining the forum and I stop here daily for a drink of the Kool-Aid!
Here's the back of my baseball card so far... all thanks to you:
- Added tax and fee efficient ETFs to taxable (VTI, VUXS) while exiting a mish mosh of ill-advised, pre-Boglehead equities and mutual funds
- Set up Treasury Direct for emergency fund; taxable as EF had become too large, risky and lacked clear intent (effectively all 'funny money')
- Will perform my first tax loss harvest (TLH) this year per the above
- Dropped wife's high-ER TDFs in favor of low-cost Vanguard & Fidelity index funds and mirrored the TDF AAs (~ 70 bps savings x2 accounts)
- Removed Bonds from 2x Roth accounts to maximize long term, tax-free growth (upped pre-tax account bond mix to keep AA in check)
- Got library app and listened to a dozen FREE audiobooks: Larimore, Lindauer, Ferri, Zweig, Malkiel, Bogle, Bernstein, Clements, etc.
- Upped wife's 403(b) contributions to the max ("until it hurts")
- Upped contributions to 2x Roth accounts after a long dry spell ("until it hurts")
- Stopped contributing to 529s (optimizing investment sequence.. hope to restart with future pay raises)
- Contacted estate attorney to complete long-overdue will & trust
- Finally read and understand my workplace pension plan literature and how it will impact my portfolio needs (as they are today)
- Opened Fidelity cash management account & 2% rewards card for fee-less cash withdraws overseas and true 'one stop shopping'
- All income, expenses, assets & liabilities now in Mint for tracking on the app (we don't follow a budget but do LBYM)
- Built detailed rebalancing spreadsheet to monitor risk across accounts and direct moves ('stay the course', 'nobody knows nothing')
- Best for last: Wrote a simple IPS
Surely there's more but you get the idea...
With gratitude,
Silversides
Re: Post your Financial Milestone Announcements Here
It sounds like you’ve had an absolutely great year, financially speaking.Silversides wrote: ↑Thu Aug 26, 2021 9:02 am (This entire year has been a milestone for me behaviorally-speaking. Until recently, I literally didn't know what 90% of the following list even meant!)
Bogleheads,
Its been a busy year since joining the forum and I stop here daily for a drink of the Kool-Aid!
Here's the back of my baseball card so far... all thanks to you:
- Added tax and fee efficient ETFs to taxable (VTI, VUXS) while exiting a mish mosh of ill-advised, pre-Boglehead equities and mutual funds
- Set up Treasury Direct for emergency fund; taxable as EF had become too large, risky and lacked clear intent (effectively all 'funny money')
- Will perform my first tax loss harvest (TLH) this year per the above
- Dropped wife's high-ER TDFs in favor of low-cost Vanguard & Fidelity index funds and mirrored the TDF AAs (~ 70 bps savings x2 accounts)
- Removed Bonds from 2x Roth accounts to maximize long term, tax-free growth (upped pre-tax account bond mix to keep AA in check)
- Got library app and listened to a dozen FREE audiobooks: Larimore, Lindauer, Ferri, Zweig, Malkiel, Bogle, Bernstein, Clements, etc.
- Upped wife's 403(b) contributions to the max ("until it hurts")
- Upped contributions to 2x Roth accounts after a long dry spell ("until it hurts")
- Stopped contributing to 529s (optimizing investment sequence.. hope to restart with future pay raises)
- Contacted estate attorney to complete long-overdue will & trust
- Finally read and understand my workplace pension plan literature and how it will impact my portfolio needs (as they are today)
- Opened Fidelity cash management account & 2% rewards card for fee-less cash withdraws overseas and true 'one stop shopping'
- All income, expenses, assets & liabilities now in Mint for tracking on the app (we don't follow a budget but do LBYM)
- Built detailed rebalancing spreadsheet to monitor risk across accounts and direct moves ('stay the course', 'nobody knows nothing')
- Best for last: Wrote a simple IPS
Surely there's more but you get the idea...
With gratitude,
Silversides
Congratulations on all the very positive steps that you’ve taken.
Keep visiting and learning from the Forum.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
- ruralavalon
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Re: Post your Financial Milestone Announcements Here
Congratulations, that is outstanding progress .Silversides wrote: ↑Thu Aug 26, 2021 9:02 am (This entire year has been a milestone for me behaviorally-speaking. Until recently, I literally didn't know what 90% of the following list even meant!)
Bogleheads,
Its been a busy year since joining the forum and I stop here daily for a drink of the Kool-Aid!
Here's the back of my baseball card so far... all thanks to you:
. . . . .
Stay the course.
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
Re: Post your Financial Milestone Announcements Here
NW broke through $2.5M yesterday, all in investments. NW has been on an absolute tear recently, the only good thing over the past year or so. I don't live on much, so if I continued to subsist on current standard of living and didn't take many trips, the finances for ER work now. Not doing it yet, since pay is very good and travel is very difficult. Hopefully in the next few years.
I'm two paychecks from filling up my 401(k) - tax-deferred, catchup (eligible this year!), and mega backdoor - IRA, HSA, and maximum I-bonds through a personal account and trust. Including corporate match, that's $95K. Whew!
I'm two paychecks from filling up my 401(k) - tax-deferred, catchup (eligible this year!), and mega backdoor - IRA, HSA, and maximum I-bonds through a personal account and trust. Including corporate match, that's $95K. Whew!
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Re: Post your Financial Milestone Announcements Here
Nice job! $95k savings is hugeWhakamole wrote: ↑Sat Aug 28, 2021 1:27 pm NW broke through $2.5M yesterday, all in investments. NW has been on an absolute tear recently, the only good thing over the past year or so. I don't live on much, so if I continued to subsist on current standard of living and didn't take many trips, the finances for ER work now. Not doing it yet, since pay is very good and travel is very difficult. Hopefully in the next few years.
I'm two paychecks from filling up my 401(k) - tax-deferred, catchup (eligible this year!), and mega backdoor - IRA, HSA, and maximum I-bonds through a personal account and trust. Including corporate match, that's $95K. Whew!
“At some point you are trading time you will never get back for money you will never spend.“ |
“How do you want to spend the best remaining year of your life?“
Re: Post your Financial Milestone Announcements Here
You’re killing it! Great job!Whakamole wrote: ↑Sat Aug 28, 2021 1:27 pm NW broke through $2.5M yesterday, all in investments. NW has been on an absolute tear recently, the only good thing over the past year or so. I don't live on much, so if I continued to subsist on current standard of living and didn't take many trips, the finances for ER work now. Not doing it yet, since pay is very good and travel is very difficult. Hopefully in the next few years.
I'm two paychecks from filling up my 401(k) - tax-deferred, catchup (eligible this year!), and mega backdoor - IRA, HSA, and maximum I-bonds through a personal account and trust. Including corporate match, that's $95K. Whew!
Re: Post your Financial Milestone Announcements Here
Paid off the mortgage yesterday! 9 years, 11 months, and 15 days in. Plus 3 refinances.
The culmination of a 4 year plan. First, to accumulate enough assets that I could pay it off quickly. With the plunge in bond rates over the past year I accelerated things (I view negative bonds as a useful concept for quantifying risk and couldn't find attractive refinancing). Then I took a 401k loan to do some interest rate (bond) arbitrage and now ... it's gone!
I still have the 401k loan, but that's a loan to myself, so I'm willing to celebrate. Thanks to BH for all the wisdom along the way. I listened to both the "Pay it off, feels great" people AND those who cautioned about the importance of liquidity and the merits of holding a low-rate mortgage. Both perspectives are valid, and were helpful to me.
The culmination of a 4 year plan. First, to accumulate enough assets that I could pay it off quickly. With the plunge in bond rates over the past year I accelerated things (I view negative bonds as a useful concept for quantifying risk and couldn't find attractive refinancing). Then I took a 401k loan to do some interest rate (bond) arbitrage and now ... it's gone!
I still have the 401k loan, but that's a loan to myself, so I'm willing to celebrate. Thanks to BH for all the wisdom along the way. I listened to both the "Pay it off, feels great" people AND those who cautioned about the importance of liquidity and the merits of holding a low-rate mortgage. Both perspectives are valid, and were helpful to me.
Re: Post your Financial Milestone Announcements Here
Congratulations! That’s a big accomplishment!AnonJohn wrote: ↑Wed Sep 01, 2021 1:47 pm Paid off the mortgage yesterday! 9 years, 11 months, and 15 days in. Plus 3 refinances.
The culmination of a 4 year plan. First, to accumulate enough assets that I could pay it off quickly. With the plunge in bond rates over the past year I accelerated things (I view negative bonds as a useful concept for quantifying risk and couldn't find attractive refinancing). Then I took a 401k loan to do some interest rate (bond) arbitrage and now ... it's gone!
I still have the 401k loan, but that's a loan to myself, so I'm willing to celebrate. Thanks to BH for all the wisdom along the way. I listened to both the "Pay it off, feels great" people AND those who cautioned about the importance of liquidity and the merits of holding a low-rate mortgage. Both perspectives are valid, and were helpful to me.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
Re: Post your Financial Milestone Announcements Here
Thanks!Stinky wrote: ↑Wed Sep 01, 2021 2:36 pmCongratulations! That’s a big accomplishment!AnonJohn wrote: ↑Wed Sep 01, 2021 1:47 pm Paid off the mortgage yesterday! 9 years, 11 months, and 15 days in. Plus 3 refinances.
The culmination of a 4 year plan. First, to accumulate enough assets that I could pay it off quickly. With the plunge in bond rates over the past year I accelerated things (I view negative bonds as a useful concept for quantifying risk and couldn't find attractive refinancing). Then I took a 401k loan to do some interest rate (bond) arbitrage and now ... it's gone!
I still have the 401k loan, but that's a loan to myself, so I'm willing to celebrate. Thanks to BH for all the wisdom along the way. I listened to both the "Pay it off, feels great" people AND those who cautioned about the importance of liquidity and the merits of holding a low-rate mortgage. Both perspectives are valid, and were helpful to me.
Re: Post your Financial Milestone Announcements Here
Just hit $850k net worth today at age 30, spouse 28. It's a fairly arbitrary milestone and I would have waited until $900k except that our first baby is due in 2 months and I don't think we'll quite reach that by then given we have some home projects and other expenses planned. Regardless, I'm pretty happy about our finances. I did not go into my 20s very optimistic about money, and I would have thought it highly unlikely that we'd reach this point so early, especially given that we didn't always make optimal decisions.
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Re: Post your Financial Milestone Announcements Here
That is an incredible achievement at age 30! Congratulations! You’ve planted a big seed for compounding to do its work on.dboeger1 wrote: ↑Wed Sep 01, 2021 8:41 pm Just hit $850k net worth today at age 30, spouse 28. It's a fairly arbitrary milestone and I would have waited until $900k except that our first baby is due in 2 months and I don't think we'll quite reach that by then given we have some home projects and other expenses planned. Regardless, I'm pretty happy about our finances. I did not go into my 20s very optimistic about money, and I would have thought it highly unlikely that we'd reach this point so early, especially given that we didn't always make optimal decisions.
- ruralavalon
- Posts: 26353
- Joined: Sat Feb 02, 2008 9:29 am
- Location: Illinois
Re: Post your Financial Milestone Announcements Here
dboeger1 wrote: ↑Wed Sep 01, 2021 8:41 pm Just hit $850k net worth today at age 30, spouse 28. It's a fairly arbitrary milestone and I would have waited until $900k except that our first baby is due in 2 months and I don't think we'll quite reach that by then given we have some home projects and other expenses planned. Regardless, I'm pretty happy about our finances. I did not go into my 20s very optimistic about money, and I would have thought it highly unlikely that we'd reach this point so early, especially given that we didn't always make optimal decisions.
Congratulations on your first baby due in 2 months , and on that other milestone.
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
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- Moderator
- Posts: 2332
- Joined: Sun Aug 09, 2015 11:19 pm
- Location: SF Bay Area
Re: Post your Financial Milestone Announcements Here
I check DW’s and my investments the first of every month. Yesterday was my first day of retirement. We are entering retirement with $3.7M, albeit in a HCOL area. Still debating whether it makes sense to pay off the mortgage since we will downsize within the next 5 years or so and the monthly payment is only $1300.
- ruralavalon
- Posts: 26353
- Joined: Sat Feb 02, 2008 9:29 am
- Location: Illinois
Re: Post your Financial Milestone Announcements Here
Congratulations on your retirement yesterday .ClaycordJCA wrote: ↑Thu Sep 02, 2021 11:53 am I check DW’s and my investments the first of every month. Yesterday was my first day of retirement. We are entering retirement with $3.7M, albeit in a HCOL area. Still debating whether it makes sense to pay off the mortgage since we will downsize within the next 5 years or so and the monthly payment is only $1300.
I don't have advice on what to do with your mortgage note if downsizing in a few years. (We love being debt free. But I don't live in a high cost of living area, and don't know your interest rate or remaining balance.)
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
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Re: Post your Financial Milestone Announcements Here
Thank you. $299k at 3%. Currently, $750 or so of the payment goes toward interest.ruralavalon wrote: ↑Thu Sep 02, 2021 12:00 pmCongratulations on your retirement yesterday .ClaycordJCA wrote: ↑Thu Sep 02, 2021 11:53 am I check DW’s and my investments the first of every month. Yesterday was my first day of retirement. We are entering retirement with $3.7M, albeit in a HCOL area. Still debating whether it makes sense to pay off the mortgage since we will downsize within the next 5 years or so and the monthly payment is only $1300.
I don't have advice on what to do with your mortgage note if downsizing in a few years. (We love being debt free. But I don't live in a high cost of living area, and don't know your interest rate or remaining balance.)
- ruralavalon
- Posts: 26353
- Joined: Sat Feb 02, 2008 9:29 am
- Location: Illinois
Re: Post your Financial Milestone Announcements Here
You might be able to refinance with to a lower interest rate, or recast the mortgage by paying off some of the principal.ClaycordJCA wrote: ↑Thu Sep 02, 2021 7:15 pmThank you. $299k at 3%. Currently, $750 or so of the payment goes toward interest.ruralavalon wrote: ↑Thu Sep 02, 2021 12:00 pmCongratulations on your retirement yesterday .ClaycordJCA wrote: ↑Thu Sep 02, 2021 11:53 am I check DW’s and my investments the first of every month. Yesterday was my first day of retirement. We are entering retirement with $3.7M, albeit in a HCOL area. Still debating whether it makes sense to pay off the mortgage since we will downsize within the next 5 years or so and the monthly payment is only $1300.
I don't have advice on what to do with your mortgage note if downsizing in a few years. (We love being debt free. But I don't live in a high cost of living area, and don't know your interest rate or remaining balance.)
Not being in high cost of living area, and not knowing your other financial details like portfolio withdrawal rate, I still can't make a recommendation.
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
Re: Post your Financial Milestone Announcements Here
Last edited by abat.rama on Sat Feb 12, 2022 12:42 am, edited 2 times in total.
Re: Post your Financial Milestone Announcements Here
$1 million in your account. That’s wonderful.
Congratulations!
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
- ruralavalon
- Posts: 26353
- Joined: Sat Feb 02, 2008 9:29 am
- Location: Illinois
Re: Post your Financial Milestone Announcements Here
Congratulations .
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
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Re: Post your Financial Milestone Announcements Here
Crossed 1 million in net worth last month! 26 years old and married. Goal in college was to do it by 29 years old (wanted to do it before 30).
First million is supposed to be the hardest, new goal is 10 million by 35
First million is supposed to be the hardest, new goal is 10 million by 35
Re: Post your Financial Milestone Announcements Here
Achieving $1 million NW at age 26 is very impressive. Congratulations!Boilermaker10 wrote: ↑Sun Sep 05, 2021 10:13 am Crossed 1 million in net worth last month! 26 years old and married. Goal in college was to do it by 29 years old (wanted to do it before 30).
First million is supposed to be the hardest, new goal is 10 million by 35
Accumulating $9 million more in the next 9 years will require a high income and an exceptional savings rate (or an IPO windfall). Best to you in striving toward that goal.
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
Won’t be any ipo windfall. Live in LCOL area, self employed and wife has good job. High savings rate and fairly aggressive investment strategy.
Re: Post your Financial Milestone Announcements Here
Last edited by abat.rama on Sat Feb 12, 2022 12:50 am, edited 1 time in total.
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Re: Post your Financial Milestone Announcements Here
With the bull market continuing in 2021 and my spouse and I staying employed, we have reached 1.3 million as of Friday.PhillyPhan wrote: ↑Thu Dec 17, 2020 3:34 pm With the rise in the markets today, my wife and I have joined the 2 comma club!
It feels great to cross this milestone after chipping away at it for the last 15 years individually and 3+ years as a married couple.
It is not lost on me how fortunate I have been to have benefited from the long bull market run and steady employment.
Excited to continue our journey while soaking in all that life has to offer. Thank you to all who have provided guidance and advise along the way. I truly believe this site is a game changer and wish my high school teachers and college professors would have referenced it.
Cheers!
Re: Post your Financial Milestone Announcements Here
Congratulations! On your way to 2 million.PhillyPhan wrote: ↑Mon Sep 06, 2021 6:46 pmWith the bull market continuing in 2021 and my spouse and I staying employed, we have reached 1.3 million as of Friday.PhillyPhan wrote: ↑Thu Dec 17, 2020 3:34 pm With the rise in the markets today, my wife and I have joined the 2 comma club!
It feels great to cross this milestone after chipping away at it for the last 15 years individually and 3+ years as a married couple.
It is not lost on me how fortunate I have been to have benefited from the long bull market run and steady employment.
Excited to continue our journey while soaking in all that life has to offer. Thank you to all who have provided guidance and advise along the way. I truly believe this site is a game changer and wish my high school teachers and college professors would have referenced it.
Cheers!
Stocks-80% || Bonds-20% || Taxable-VTI/VXUS || IRA-VT/BNDW
- JupiterJones
- Posts: 3624
- Joined: Tue Aug 24, 2010 3:25 pm
- Location: Nashville, TN
Re: Post your Financial Milestone Announcements Here
Just put through the wire to pay off the mortgage, which is the only debt we have left. (A surprisingly convoluted process to get this all taken care of... a fax was involved fer-cryin-out-loud!)
Thanks to all here for the advice and support. On to the next milestone!
Thanks to all here for the advice and support. On to the next milestone!
"Stay on target! Stay on target!"
- ruralavalon
- Posts: 26353
- Joined: Sat Feb 02, 2008 9:29 am
- Location: Illinois
Re: Post your Financial Milestone Announcements Here
JupiterJones wrote: ↑Fri Sep 10, 2021 3:20 pm Just put through the wire to pay off the mortgage, which is the only debt we have left. (A surprisingly convoluted process to get this all taken care of... a fax was involved fer-cryin-out-loud!)
Thanks to all here for the advice and support. On to the next milestone!
Congratulations on paying off the mortgage and becoming debt free
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
Re: Post your Financial Milestone Announcements Here
There’s no better feeling than knowing that you own your home free and clear.JupiterJones wrote: ↑Fri Sep 10, 2021 3:20 pm Just put through the wire to pay off the mortgage, which is the only debt we have left. (A surprisingly convoluted process to get this all taken care of... a fax was involved fer-cryin-out-loud!)
Thanks to all here for the advice and support. On to the next milestone!
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
Congratulations!!JupiterJones wrote: ↑Fri Sep 10, 2021 3:20 pm Just put through the wire to pay off the mortgage, which is the only debt we have left. (A surprisingly convoluted process to get this all taken care of... a fax was involved fer-cryin-out-loud!)
Thanks to all here for the advice and support. On to the next milestone!
Re: Post your Financial Milestone Announcements Here
How did you do this? I am 37 and have 250K in accounts.angelescrest wrote: ↑Sat May 15, 2021 6:38 amThank you! Thirteen years ago I had $30,000 exactly in my retirement accounts, and tons of school and housing debt from the Great Recession. If I can make it, many Americans can. But of course, this is just a step toward the goal of financial independence and enough money to provide my children a rewarding college education.Stinky wrote: ↑Fri May 14, 2021 9:11 pmCongratulations! And thank you so much for sharing your story.angelescrest wrote: ↑Fri May 14, 2021 6:36 pm We just crossed into the seven figure space.
There is a caveat here, however. We just sold our house, and the funds cleared. I wasn't really counting our home value as a part of our net worth since it's a moving target, but we are also not going to be buying a home anytime in the next couple years. So, the is ours until we buy again. The home sale proceeds was about 15% of our net worth.
Still, adding up all the numbers across the accounts, and here we are, in a spot I could never have fathomed years ago. Definitely could not have fathomed it when I first logged onto Bogleheads and started asking questions. I had no idea what I was doing. Always wondered who those people were who hit the millionaire status and what they did. We never made a lot of money. I'm not even comfortable using that word--millionaire--in reference to myself. So, I'm not sure how I feel. How am I supposed to feel? Another day, another dollar. But I do think it's important to celebrate milestones, and as I've not told anyone I know, I'm sharing this with all of you. Wish I could sit down with a few of you in person to reflect, and buy you all a round.
You can repeat it - you are a millionaire.
Re: Post your Financial Milestone Announcements Here
Crossed over 1.5 in stocks/bonds and cash.
HCOL with no mortgage and 550 in equity.
Never had high paying jobs. Did it all with RE and sweat equity over the past 28 years. Made some excellent decisions, jumped on opportunities and worked hard.
Our last rental investment property went on the mls today so more coming.
I remember when we put 10k in Vanguard in 1995 and thought that was so great!
This forum has been instrumental in building our knowledge base and confidence.
Thanks all.
HCOL with no mortgage and 550 in equity.
Never had high paying jobs. Did it all with RE and sweat equity over the past 28 years. Made some excellent decisions, jumped on opportunities and worked hard.
Our last rental investment property went on the mls today so more coming.
I remember when we put 10k in Vanguard in 1995 and thought that was so great!
This forum has been instrumental in building our knowledge base and confidence.
Thanks all.
- JupiterJones
- Posts: 3624
- Joined: Tue Aug 24, 2010 3:25 pm
- Location: Nashville, TN
Re: Post your Financial Milestone Announcements Here
ruralavalon wrote: ↑Fri Sep 10, 2021 3:33 pm Congratulations on paying off the mortgage and becoming debt free
Thanks, ruralavalon, Stinky, and jaqenhghar!
"Stay on target! Stay on target!"
- JupiterJones
- Posts: 3624
- Joined: Tue Aug 24, 2010 3:25 pm
- Location: Nashville, TN
Re: Post your Financial Milestone Announcements Here
Nice work, congrats!coynerone wrote: ↑Fri Sep 10, 2021 5:27 pm Crossed over 1.5 in stocks/bonds and cash.
HCOL with no mortgage and 550 in equity.
Never had high paying jobs. Did it all with RE and sweat equity over the past 28 years. Made some excellent decisions, jumped on opportunities and worked hard.
Our last rental investment property went on the mls today so more coming.
I remember when we put 10k in Vanguard in 1995 and thought that was so great!
This forum has been instrumental in building our knowledge base and confidence.
Thanks all.
Yeah, we've kept pretty good records of our finances since marriage, and it's always interesting to see where we used to be back then. Seems so puny now, but it sure seemed like a lot back then. And anyway, everyone has to start with "puny" to get to "not puny"!
"Stay on target! Stay on target!"
Re: Post your Financial Milestone Announcements Here
Got a big raise yesterday that pushed me over $200k income for the first time. This is going to really accelerate our savings and allow for a nice balance between retirement / house projects / vacations, etc.
- ruralavalon
- Posts: 26353
- Joined: Sat Feb 02, 2008 9:29 am
- Location: Illinois
Re: Post your Financial Milestone Announcements Here
Congratulations on your raise .
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
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Re: Post your Financial Milestone Announcements Here
Nice
Did you have to switch jobs to get it, or were you able to get the big bump in your existing position?
Re: Post your Financial Milestone Announcements Here
Same job, but had a competing offer. Got a nice new title too.Onlineid3089 wrote: ↑Tue Sep 14, 2021 2:00 pmNice
Did you have to switch jobs to get it, or were you able to get the big bump in your existing position?
Completed our first Roth conversion!
More like a trailhead than a milestone but well begun is half done, right. Conversion was about 0.015 percent of total assets invested. May not seem like much but just understanding how conversions fit into our retirement plans and getting set up to do the conversions was a big step for me.
1/3rd VTWAX, 1/3rd Wellington, 1/3rd G Fund |
All models are wrong. Some are useful.
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Re: Post your Financial Milestone Announcements Here
Have you guys tried calculating the rate of increase of your net worth from since you started investing? For kicks, I did that today, starting from when I was a medical resident 25 years ago. I’m getting a 27% annualized return. This of course includes contributions on top of the actual investment returns….aka…the Beardstown Ladies brand of arithmetic. Still, I thought it was cool to see net worth far outpace inflation over the past 25 years. Net worth is net worth, so to my mind the end result is no less valid, even if not attained purely by investment growth.
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- Location: NYC
Re: Post your Financial Milestone Announcements Here
A commonerA-Commoner wrote: ↑Sun Sep 19, 2021 3:18 pm Have you guys tried calculating the rate of increase of your net worth from since you started investing? For kicks, I did that today, starting from when I was a medical resident 25 years ago. I’m getting a 27% annualized return. This of course includes contributions on top of the actual investment returns….aka…the Beardstown Ladies brand of arithmetic. Still, I thought it was cool to see net worth far outpace inflation over the past 25 years. Net worth is net worth, so to my mind the end result is no less valid, even if not attained purely by investment growth.
Yes I did that with using
Historical contribution limits on IRA https://dqydj.com/historical-ira-contribution-limit/
Historical contribution limits on 401, 403b, & 457 https://dqydj.com/historical-401k-contr ... %20rows%20
Here is my break down using SSA earnings from its website I was able to figure out my average annualized rate of return based with present portfolio balance.
this is on my profile
https://imgur.com/a/Gi5VKcO
average annual rate of return for 34 years 7.5% on 2.6 million portfolio
my net worth is 3 million plus
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Re: Post your Financial Milestone Announcements Here
Last edited by novemberrain on Mon Oct 31, 2022 1:37 am, edited 1 time in total.
Re: Post your Financial Milestone Announcements Here
How about negative milestones? Or we need new thread for this?
Today I discovered the negative milestone in my portfolio -80k for the month of September! Weeee
Today I discovered the negative milestone in my portfolio -80k for the month of September! Weeee
"The fund industry doesn't have a lot of heroes, but he (Bogle) is one of them," Russ Kinnel