Post your Financial Milestone Announcements Here

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Joe_R95
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Re: Post your Financial Milestone Announcements Here

Post by Joe_R95 »

Joe_R95 wrote: Thu Sep 12, 2019 5:47 am I finally broke $500k in invested assets yesterday for the first time. Was way more exciting when I almost got there a couple months ago. I'm 36 and have only been investing heavily since the very end of 2015. No inheritance or any windfalls. At the rate I'm going it looks like about 80% of my first million will be my money. Can't wait to see the yield curve start to form!

Congrats to everyone else in this thread. Remember to enjoy the ride.
I'm now 40 and just hit the second comma club for investments today! Will probably be sad to see it slip away tomorrow, but I'm well on my way to independence. Congrats everyone! Don't forget to celebrate the little wins.
Normchad
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Re: Post your Financial Milestone Announcements Here

Post by Normchad »

Joe_R95 wrote: Thu Feb 02, 2023 8:38 pm
Joe_R95 wrote: Thu Sep 12, 2019 5:47 am I finally broke $500k in invested assets yesterday for the first time. Was way more exciting when I almost got there a couple months ago. I'm 36 and have only been investing heavily since the very end of 2015. No inheritance or any windfalls. At the rate I'm going it looks like about 80% of my first million will be my money. Can't wait to see the yield curve start to form!

Congrats to everyone else in this thread. Remember to enjoy the ride.
I'm now 40 and just hit the second comma club for investments today! Will probably be sad to see it slip away tomorrow, but I'm well on my way to independence. Congrats everyone! Don't forget to celebrate the little wins.
That is fantastic! Congratulations!
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Darth Xanadu
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Re: Post your Financial Milestone Announcements Here

Post by Darth Xanadu »

Joe_R95 wrote: Thu Feb 02, 2023 8:38 pm
Joe_R95 wrote: Thu Sep 12, 2019 5:47 am I finally broke $500k in invested assets yesterday for the first time. Was way more exciting when I almost got there a couple months ago. I'm 36 and have only been investing heavily since the very end of 2015. No inheritance or any windfalls. At the rate I'm going it looks like about 80% of my first million will be my money. Can't wait to see the yield curve start to form!

Congrats to everyone else in this thread. Remember to enjoy the ride.
I'm now 40 and just hit the second comma club for investments today! Will probably be sad to see it slip away tomorrow, but I'm well on my way to independence. Congrats everyone! Don't forget to celebrate the little wins.
Congratulations to you! Even though $1,000,000 is an arbitrary number, I would never call it a little win. Well done!
Joe_R95
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Re: Post your Financial Milestone Announcements Here

Post by Joe_R95 »

Darth Xanadu wrote: Thu Feb 02, 2023 8:46 pm
Congratulations to you! Even though $1,000,000 is an arbitrary number, I would never call it a little win. Well done!
Every $10k is a win. A couple of weeks ago i was just excited I might hit it this year!
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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

Joe_R95 wrote: Thu Feb 02, 2023 8:38 pm
Joe_R95 wrote: Thu Sep 12, 2019 5:47 am I finally broke $500k in invested assets yesterday for the first time. Was way more exciting when I almost got there a couple months ago. I'm 36 and have only been investing heavily since the very end of 2015. No inheritance or any windfalls. At the rate I'm going it looks like about 80% of my first million will be my money. Can't wait to see the yield curve start to form!

Congrats to everyone else in this thread. Remember to enjoy the ride.
I'm now 40 and just hit the second comma club for investments today! Will probably be sad to see it slip away tomorrow, but I'm well on my way to independence. Congrats everyone! Don't forget to celebrate the little wins.
Congratulations on joining the two comma club :)
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
Minty
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Re: Post your Financial Milestone Announcements Here

Post by Minty »

Normchad wrote: Sat Aug 01, 2020 1:54 pm
Minty wrote: Sat Aug 01, 2020 1:48 pm When I checked Mint this morning, I saw that we (mid-early 50s couple) reached a milestone I saw mentioned years ago on Bogleheads but now cannot find. It was something like: "two commas, with the first number not being a 1 or a 2." This $3 million counts Zillow's calculation of home equity, Mint's valuation of two cheap cars, and the cash-out value of a pension. Most of it is in pretax; I don't count as an offsetting liability the tax we will eventually, probably, pay. I expect to dip back under given the current volatility, and one of us has already had a promised raise cancelled and employer retirement contributions suspended, so who knows what the future holds. But still, we can't complain.

More important and better news: Our oldest child, who graduated from college in May, decided to move to another city. She figured out how to get there on her own, and got a job on her own, which she started last week. We paid for her college, but told her after that she should plan on supporting herself. That was a lie, we probably would have subsidized her indefinitely. The pride and relief at having an adult child blessed with a little initiative and energy is absolutely priceless. A toast to all other Boglehead parents and savers out there: Best of luck! :beer
Congratulations, that’s awesome. Seeing your child grow into an independent adult is a fantastic accomplishment. Good job!
2.5 years later, Mint says over $4M now, even accounting for one more semester of tuition for our youngest child. I had no money to panic with in 1987, but stayed the course in 2000-02, 2007-08 and recently. Three cheers for Boglehead Diamond Hands!
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stoptothink
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Re: Post your Financial Milestone Announcements Here

Post by stoptothink »

Joe_R95 wrote: Thu Feb 02, 2023 8:38 pm
Joe_R95 wrote: Thu Sep 12, 2019 5:47 am I finally broke $500k in invested assets yesterday for the first time. Was way more exciting when I almost got there a couple months ago. I'm 36 and have only been investing heavily since the very end of 2015. No inheritance or any windfalls. At the rate I'm going it looks like about 80% of my first million will be my money. Can't wait to see the yield curve start to form!

Congrats to everyone else in this thread. Remember to enjoy the ride.
I'm now 40 and just hit the second comma club for investments today! Will probably be sad to see it slip away tomorrow, but I'm well on my way to independence. Congrats everyone! Don't forget to celebrate the little wins.
That's awesome, I'm in a very similar situation. My wife and I had pretty close to nothing when we married (I was 32, she was 27), but we had two financial goals before I hit 40: 1M portfolio and a paid off house. Paid off the house at 37, then we hit 1M+ in assets ~6 months before I hit 40. I'm going to be 42 in a few months and the portfolio is now ~1.5M.
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Stinky
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Re: Post your Financial Milestone Announcements Here

Post by Stinky »

Minty wrote: Fri Feb 03, 2023 12:17 pm
Normchad wrote: Sat Aug 01, 2020 1:54 pm
Minty wrote: Sat Aug 01, 2020 1:48 pm When I checked Mint this morning, I saw that we (mid-early 50s couple) reached a milestone I saw mentioned years ago on Bogleheads but now cannot find. It was something like: "two commas, with the first number not being a 1 or a 2." This $3 million counts Zillow's calculation of home equity, Mint's valuation of two cheap cars, and the cash-out value of a pension. Most of it is in pretax; I don't count as an offsetting liability the tax we will eventually, probably, pay. I expect to dip back under given the current volatility, and one of us has already had a promised raise cancelled and employer retirement contributions suspended, so who knows what the future holds. But still, we can't complain.

More important and better news: Our oldest child, who graduated from college in May, decided to move to another city. She figured out how to get there on her own, and got a job on her own, which she started last week. We paid for her college, but told her after that she should plan on supporting herself. That was a lie, we probably would have subsidized her indefinitely. The pride and relief at having an adult child blessed with a little initiative and energy is absolutely priceless. A toast to all other Boglehead parents and savers out there: Best of luck! :beer
Congratulations, that’s awesome. Seeing your child grow into an independent adult is a fantastic accomplishment. Good job!
2.5 years later, Mint says over $4M now, even accounting for one more semester of tuition for our youngest child. I had no money to panic with in 1987, but stayed the course in 2000-02, 2007-08 and recently. Three cheers for Boglehead Diamond Hands!
So you’ve added another million in the last 30 months?

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

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stoptothink wrote: Fri Feb 03, 2023 12:47 pm My wife and I had pretty close to nothing when we married (I was 32, she was 27), but we had two financial goals before I hit 40: 1M portfolio and a paid off house. Paid off the house at 37, then we hit 1M+ in assets ~6 months before I hit 40. I'm going to be 42 in a few months and the portfolio is now ~1.5M.
Very impressive!

Congratulations.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
4ransom
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Re: Post your Financial Milestone Announcements Here

Post by 4ransom »

Account down about one half million in the last year or so. Was a milestone for me.
Joe_R95
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Re: Post your Financial Milestone Announcements Here

Post by Joe_R95 »

stoptothink wrote: Fri Feb 03, 2023 12:47 pm That's awesome, I'm in a very similar situation. My wife and I had pretty close to nothing when we married (I was 32, she was 27), but we had two financial goals before I hit 40: 1M portfolio and a paid off house. Paid off the house at 37, then we hit 1M+ in assets ~6 months before I hit 40. I'm going to be 42 in a few months and the portfolio is now ~1.5M.
Yeah really similar. Paid off the house a few years ago. Net worth with the house is 1.3-1.4ish. I was aiming to hit it by 40, missed it by 2 months because last years market was rough. I would be ecstatic if the portfolio grew by 500k in 2 years. It seems to be hitting the point where the market movement is really beginning to outweigh contributions.
stoptothink
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Re: Post your Financial Milestone Announcements Here

Post by stoptothink »

Joe_R95 wrote: Fri Feb 03, 2023 5:36 pm
stoptothink wrote: Fri Feb 03, 2023 12:47 pm That's awesome, I'm in a very similar situation. My wife and I had pretty close to nothing when we married (I was 32, she was 27), but we had two financial goals before I hit 40: 1M portfolio and a paid off house. Paid off the house at 37, then we hit 1M+ in assets ~6 months before I hit 40. I'm going to be 42 in a few months and the portfolio is now ~1.5M.
Yeah really similar. Paid off the house a few years ago. Net worth with the house is 1.3-1.4ish. I was aiming to hit it by 40, missed it by 2 months because last years market was rough. I would be ecstatic if the portfolio grew by 500k in 2 years. It seems to be hitting the point where the market movement is really beginning to outweigh contributions.
Well, we have contributed >$300k in the last 2yrs...
Joe_R95
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Re: Post your Financial Milestone Announcements Here

Post by Joe_R95 »

stoptothink wrote: Fri Feb 03, 2023 5:40 pm Well, we have contributed >$300k in the last 2yrs...
You've got me beat. Best I've been able to contribute is $100k/year.
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Darth Xanadu
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Post by Darth Xanadu »

My taxable brokerage account hit the $500k mark; about 1/3 of it is unrealized gains. I first opened and started contributing in 2015, so I've been the beneficiary of some big returns.

And while arbitrary in and of itself, it's important to me because it sets me up to manage my tax liabilities efficiently, down the road in the decumulation stage.
empiricist
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Re: Post your Financial Milestone Announcements Here

Post by empiricist »

DW and I hit two milestones this month:
  1. A savings-based milestone: we maxed out our 401ks and Roth IRAs in the first three months of the year, which is by far the earliest we've done that. (We don't get an employer match so there is no point spreading it out.)
  2. A net worth milestone: we achieved a net worth with two commas. (We briefly and just barely hit it last year, but then fell below again. Based on our savings rate, I think we'll stay above it going forward.)
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Stinky
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Re: Post your Financial Milestone Announcements Here

Post by Stinky »

empiricist wrote: Thu Mar 30, 2023 2:50 pm DW and I hit two milestones this month:
  1. A savings-based milestone: we maxed out our 401ks and Roth IRAs in the first three months of the year, which is by far the earliest we've done that. (We don't get an employer match so there is no point spreading it out.)
  2. A net worth milestone: we achieved a net worth with two commas. (We briefly and just barely hit it last year, but then fell below again. Based on our savings rate, I think we'll stay above it going forward.)
Darth Xanadu wrote: Thu Mar 30, 2023 1:58 pm My taxable brokerage account hit the $500k mark; about 1/3 of it is unrealized gains. I first opened and started contributing in 2015, so I've been the beneficiary of some big returns.

And while arbitrary in and of itself, it's important to me because it sets me up to manage my tax liabilities efficiently, down the road in the decumulation stage.
Congratulations to both of you!

Those are excellent milestones that you’ve hit.

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

Post by stoptothink »

empiricist wrote: Thu Mar 30, 2023 2:50 pm DW and I hit two milestones this month:
  1. A savings-based milestone: we maxed out our 401ks and Roth IRAs in the first three months of the year, which is by far the earliest we've done that. (We don't get an employer match so there is no point spreading it out.)
  2. A net worth milestone: we achieved a net worth with two commas. (We briefly and just barely hit it last year, but then fell below again. Based on our savings rate, I think we'll stay above it going forward.)
We sort of will do the same thing tomorrow. Wife gets no match, so she's maxxed out as of tomorrow. I get a small match, so am only contributing the 4% needed to get the match starting 4/15 - otherwise I'm maxxed starting tomorrow.

Wife is likely to be switching employers in the next 2-3 months and the company she has an upcoming 3rd interview with (and the person interviewing her is her former boss, who reached out to her) does have a small match :oops:
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Post by Silverado »

Darth Xanadu wrote: Thu Mar 30, 2023 1:58 pm My taxable brokerage account hit the $500k mark; about 1/3 of it is unrealized gains. I first opened and started contributing in 2015, so I've been the beneficiary of some big returns.

And while arbitrary in and of itself, it's important to me because it sets me up to manage my tax liabilities efficiently, down the road in the decumulation stage.
Congrats! We are also fortunate to have accumulated a sizable taxable account, and expect it to provide some great flexibility in the future.

Great to read these celebratory posts! I will make one once we reach a portfolio ATH again. Even shoveling in as much as possible has left us down a bunch since 2021. It’ll come, it’ll come.
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Re: Post your Financial Milestone Announcements Here

Post by empiricist »

stoptothink wrote: Thu Mar 30, 2023 4:49 pm
We sort of will do the same thing tomorrow.

Wife is likely to be switching employers in the next 2-3 months and the company she has an upcoming 3rd interview with (and the person interviewing her is her former boss, who reached out to her) does have a small match :oops:
Congrats!

I also recently had the realization that if either of us switch jobs we may lose out on the chance for a match. Oh well - it feels great to have it done. I have to admit I get some joy out of the HR folks' confused response when I set my withholding to 100%. "Did you mean 10%?"
CoAndy
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Re: Post your Financial Milestone Announcements Here

Post by CoAndy »

I guess I hit a (pathetic) milestone this past Saturday when I checked my account balances. As of April 2023, I have the same balance in my retirement accounts that I had the first day of 2022. Invested probably about $25k in that time. :confused
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Post by sailaway »

CoAndy wrote: Tue Apr 04, 2023 3:58 pm I guess I hit a (pathetic) milestone this past Saturday when I checked my account balances. As of April 2023, I have the same balance in my retirement accounts that I had the first day of 2022. Invested probably about $25k in that time. :confused
Considering how much the markets are down in that time, that is actually pretty impressive. We have not recovered to our level as of early December 2021, which was lower yet than the beginning of 2022 because there was a rally during the month of December.
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Re: Post your Financial Milestone Announcements Here

Post by stoptothink »

My Vanguard account, which consists of our taxable brokerage and my Roth IRA, hit $500k for the first time yesterday. Small win at a time when it feels like you are just shoveling money into a pit.
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Stinky
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Re: Post your Financial Milestone Announcements Here

Post by Stinky »

stoptothink wrote: Tue Apr 04, 2023 4:08 pm My Vanguard account, which consists of our taxable brokerage and my Roth IRA, hit $500k for the first time yesterday. Small win at a time when it feels like you are just shoveling money into a pit.
That’s no small accomplishment. Congratulations!
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diydocwifejd
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Re: Post your Financial Milestone Announcements Here

Post by diydocwifejd »

I reached $200k in my personal 401k today (separate from my husband’s). Feels big and important :moneybag :mrgreen: :beer
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Stinky
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Post by Stinky »

diydocwifejd wrote: Fri Apr 14, 2023 3:32 pm I reached $200k in my personal 401k today (separate from my husband’s). Feels big and important :moneybag :mrgreen: :beer
That’s excellent!

Congratulations.
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Post by Grt2bOutdoors »

Stinky wrote: Fri Apr 14, 2023 3:45 pm
diydocwifejd wrote: Fri Apr 14, 2023 3:32 pm I reached $200k in my personal 401k today (separate from my husband’s). Feels big and important :moneybag :mrgreen: :beer
That’s excellent!

Congratulations.
Agree with that, every dollar counts but as the sums grow so does the compounding effect of the bigger snowball. Congrats!
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ruralavalon
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Post by ruralavalon »

diydocwifejd wrote: Fri Apr 14, 2023 3:32 pm I reached $200k in my personal 401k today (separate from my husband’s). Feels big and important :moneybag :mrgreen: :beer
Congratulations, it is big and important :) .
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JS-Elcano
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Re: Post your Financial Milestone Announcements Here

Post by JS-Elcano »

stoptothink wrote: Fri Feb 03, 2023 12:47 pm
Joe_R95 wrote: Thu Feb 02, 2023 8:38 pm
Joe_R95 wrote: Thu Sep 12, 2019 5:47 am I finally broke $500k in invested assets yesterday for the first time. Was way more exciting when I almost got there a couple months ago. I'm 36 and have only been investing heavily since the very end of 2015. No inheritance or any windfalls. At the rate I'm going it looks like about 80% of my first million will be my money. Can't wait to see the yield curve start to form!

Congrats to everyone else in this thread. Remember to enjoy the ride.
I'm now 40 and just hit the second comma club for investments today! Will probably be sad to see it slip away tomorrow, but I'm well on my way to independence. Congrats everyone! Don't forget to celebrate the little wins.
That's awesome, I'm in a very similar situation. My wife and I had pretty close to nothing when we married (I was 32, she was 27), but we had two financial goals before I hit 40: 1M portfolio and a paid off house. Paid off the house at 37, then we hit 1M+ in assets ~6 months before I hit 40. I'm going to be 42 in a few months and the portfolio is now ~1.5M.
You guys are amazing! I am just beyond 50 and still working towards my first million in investments. Just passed 1.2 million NW this week though. If the market doesn't go down I am on track to joining the two comma club in investments next year at the same time as I will have paid off the mortgage on my home.
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Re: Post your Financial Milestone Announcements Here

Post by JS-Elcano »

diydocwifejd wrote: Fri Apr 14, 2023 3:32 pm I reached $200k in my personal 401k today (separate from my husband’s). Feels big and important :moneybag :mrgreen: :beer
Congratulations!! I still remember how amazing this felt. :sharebeer
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Re: Post your Financial Milestone Announcements Here

Post by JS-Elcano »

stoptothink wrote: Tue Apr 04, 2023 4:08 pm My Vanguard account, which consists of our taxable brokerage and my Roth IRA, hit $500k for the first time yesterday. Small win at a time when it feels like you are just shoveling money into a pit.
I agree. I have been feeling like this as well. Not anywhere near half a million in Roths. However, I did do a little happy dance earlier today when I realized that i now have 140k in Roths. I remember a time when people on this board were posting about >100k in Roths and I was thinking 'How can they have that much with just 6k or 7k annual contributions?" Now I know :D
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Re: Post your Financial Milestone Announcements Here

Post by dvvader »

Wife and I recently crossed over $1M net worth including home equity! I don't normally track home equity but thought we might be close to this milestone so checked it out, turns out we were! Both age 33, 4 kids, single (high) income. Feels good, but will feel really good when investment balances cross this threshold, hopefully in 2-3 years.
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Post by Stinky »

dvvader wrote: Mon Apr 17, 2023 1:28 pm Wife and I recently crossed over $1M net worth including home equity! I don't normally track home equity but thought we might be close to this milestone so checked it out, turns out we were! Both age 33, 4 kids, single (high) income. Feels good, but will feel really good when investment balances cross this threshold, hopefully in 2-3 years.
Congratulations! That’s a nice net worth at age 33.

(And I really like your BH “signature”)
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Post by ruralavalon »

dvvader wrote: Mon Apr 17, 2023 1:28 pm Wife and I recently crossed over $1M net worth including home equity! I don't normally track home equity but thought we might be close to this milestone so checked it out, turns out we were! Both age 33, 4 kids, single (high) income. Feels good, but will feel really good when investment balances cross this threshold, hopefully in 2-3 years.
Congratulations :D
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Post by Veiled »

Proud to announce that I am back to broke!!! I've been aggressively paying off student loans in residency and fellowship, while also investing.

My goal was to pay off all student debt with my signing bonus on my first attending contract. With 18 months of fellowship left and the contract in hand, I can say I will be able to do that...but I might pivot and use the signing bonus on a house instead. :D Seeing net-zero was a freeing experience that allowed me to dream of using funds to not just dig myself out of holes, but to acquire a better situation and build up the portfolio. It's a new vista!
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Stinky
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Veiled wrote: Mon Apr 24, 2023 8:22 am Proud to announce that I am back to broke!!! I've been aggressively paying off student loans in residency and fellowship, while also investing.

My goal was to pay off all student debt with my signing bonus on my first attending contract. With 18 months of fellowship left and the contract in hand, I can say I will be able to do that...but I might pivot and use the signing bonus on a house instead. :D Seeing net-zero was a freeing experience that allowed me to dream of using funds to not just dig myself out of holes, but to acquire a better situation and build up the portfolio. It's a new vista!
That’s an accomplishment worth celebrating. Onward and upward!

Congratulations.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
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ruralavalon
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Post by ruralavalon »

Veiled wrote: Mon Apr 24, 2023 8:22 am Proud to announce that I am back to broke!!! I've been aggressively paying off student loans in residency and fellowship, while also investing.

My goal was to pay off all student debt with my signing bonus on my first attending contract. With 18 months of fellowship left and the contract in hand, I can say I will be able to do that...but I might pivot and use the signing bonus on a house instead. :D Seeing net-zero was a freeing experience that allowed me to dream of using funds to not just dig myself out of holes, but to acquire a better situation and build up the portfolio. It's a new vista!
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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Post by Veiled »

ruralavalon wrote: Mon Apr 24, 2023 9:33 amCongratulations :D
Stinky wrote: Mon Apr 24, 2023 8:40 amThat’s an accomplishment worth celebrating. Onward and upward!

Congratulations.
Thank you both!
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ray.james
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Post by ray.james »

Veiled wrote: Mon Apr 24, 2023 8:22 am Proud to announce that I am back to broke!!! I've been aggressively paying off student loans in residency and fellowship, while also investing.

My goal was to pay off all student debt with my signing bonus on my first attending contract. With 18 months of fellowship left and the contract in hand, I can say I will be able to do that...but I might pivot and use the signing bonus on a house instead. :D Seeing net-zero was a freeing experience that allowed me to dream of using funds to not just dig myself out of holes, but to acquire a better situation and build up the portfolio. It's a new vista!
That is a tough goal! congratulations and onward to more success.
When in doubt, http://www.bogleheads.org/forum/viewtopic.php?f=1&t=79939
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Veiled
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Re: Post your Financial Milestone Announcements Here

Post by Veiled »

ray.james wrote: Mon Apr 24, 2023 2:15 pmThat is a tough goal! congratulations and onward to more success.
Thank you! :sharebeer
ze233
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Re: Post your Financial Milestone Announcements Here

Post by ze233 »

ze233 wrote: Sun Feb 17, 2019 2:35 pm
LadyGeek wrote: Sun Feb 17, 2019 8:07 am
ze233 wrote: Sat Feb 16, 2019 10:55 pm My wife and I just hit 2 commas for our combined investments + cash assets as of close of business yesterday. We had hit 2 commas in networth a couple of years ago, but that included our home equity.

However the 2 commas in just investments and cash has been a goal of mine to reach before turning 40 since I graduated college and started working.
I'm happy to say we reached it a few months before I turn 36.

I can't tell anyone else except my wife, but I'm glad to be able to share it with the Boglehead community.
Thanks for everyone for all the excellent advice and inspiration and motivation to stay the course and make this goal a reality. :beer

Now I suppose I need to figure out the next age goal, and target number.
Congrats! Remember that milestones are just arbitrary numbers. If what you have now is working, don't change it to reach a "new number".

Pick one that feels comfortable. If you reach it early, that's great. If not, just change the number. :)
Thank you. That is a good reminder. We're going to keep on the path we are on.

Another thread on here recently reminded me that ageism is real in my industry, so my next goal is to have enough to retire comfortably when I'm 50, in case I'm let go.
I believe if we keep on our current path, this will be very obtainable.
I thought I would post an update now because this month I turn 40, my original target age for 2 comma club after graduating college at age 22. Currently our net worth including house is over the 2 million mark, but the combined investments + cash is still short of 2 million by a little over 100k.

We both started out at $0 after college, but we've been able to grow it due to maxing out retirement accounts since starting our jobs in our 20s. My wife also has the ability to contribute the max to a 403b and a 457k each, which not only gives us more space to contribute and grow investments pre-tax, but helps greatly to reduce our taxable income and let us slip under the income limits for Roth IRA contributions. For 2022, our retirement contributions were 20500 * 3 (my 401k, her 403b, her 457) + 6000 * 2 (my Roth IRA, her Roth IRA) = 73500 . We've also put 10000 each for our two kids into a 529 account, and will continue to do so until they are 18.

For debts, we still have 7 years left of a 15yr mortgage with 157000 remaining balance. I was contemplating paying it off in a few years, but now with interest rates high, and the mortgage rate on my existing mortgage at 2.5%, I am content to just pay the monthly amount for the next 7 years.

Our net worth and investments is higher than I ever could have hoped for as a fresh college graduate all those years ago at this age. I'm still worried about ageism in my industry, but running the numbers, if I'm able to make it to 50 years, we will have more than enough to retire comfortably at that point.
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Stinky
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Re: Post your Financial Milestone Announcements Here

Post by Stinky »

ze233 wrote: Wed Apr 26, 2023 12:27 am For 2022, our retirement contributions were 20500 * 3 (my 401k, her 403b, her 457) + 6000 * 2 (my Roth IRA, her Roth IRA) = 73500 . We've also put 10000 each for our two kids into a 529 account, and will continue to do so until they are 18.

[snip]

Our net worth and investments is higher than I ever could have hoped for as a fresh college graduate all those years ago at this age. I'm still worried about ageism in my industry, but running the numbers, if I'm able to make it to 50 years, we will have more than enough to retire comfortably at that point.
One of the largest contributors to having a high net worth is saving a lot of money. You and your wife are collectively putting away almost $100k per year, so you’re doing a great job there.

Keep saving and investing prudently. Yes, your net worth will continue to grow nicely.

Congratulations!
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
ze233
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Re: Post your Financial Milestone Announcements Here

Post by ze233 »

Stinky wrote: Wed Apr 26, 2023 4:43 am
ze233 wrote: Wed Apr 26, 2023 12:27 am For 2022, our retirement contributions were 20500 * 3 (my 401k, her 403b, her 457) + 6000 * 2 (my Roth IRA, her Roth IRA) = 73500 . We've also put 10000 each for our two kids into a 529 account, and will continue to do so until they are 18.

[snip]

Our net worth and investments is higher than I ever could have hoped for as a fresh college graduate all those years ago at this age. I'm still worried about ageism in my industry, but running the numbers, if I'm able to make it to 50 years, we will have more than enough to retire comfortably at that point.
One of the largest contributors to having a high net worth is saving a lot of money. You and your wife are collectively putting away almost $100k per year, so you’re doing a great job there.

Keep saving and investing prudently. Yes, your net worth will continue to grow nicely.

Congratulations!
Thank you for the kind words. Having someone acknowledge the work we've put in and validating our strategy is truly appreciated.

I've been thinking the past few days that I may continue to try working past 50, since my kids are age 6 and 3, and it might benefit them to see their parents working so they don't think they can coast through life.
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ruralavalon
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Re: Post your Financial Milestone Announcements Here

Post by ruralavalon »

ze233 wrote: Wed Apr 26, 2023 12:27 am For 2022, our retirement contributions were 20500 * 3 (my 401k, her 403b, her 457) + 6000 * 2 (my Roth IRA, her Roth IRA) = 73500 . We've also put 10000 each for our two kids into a 529 account, and will continue to do so until they are 18.
Congratulations :D . Establishing a high rate of contributions is the most important investing decision you can make.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
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chasingbutterflies
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Re: Post your Financial Milestone Announcements Here

Post by chasingbutterflies »

CoAndy wrote: Tue Apr 04, 2023 3:58 pm I guess I hit a (pathetic) milestone this past Saturday when I checked my account balances. As of April 2023, I have the same balance in my retirement accounts that I had the first day of 2022. Invested probably about $25k in that time. :confused
I feel that. If I had contributed to my Roth in the first week of January 2022 I would have hit 500k invested. As it is I contributed in the 3rd week of January and only hit 500k invested last month. Talk about delayed gratification! I'll just keep plugging away. I'll get there!
AlaskaTeach
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Re: Post your Financial Milestone Announcements Here

Post by AlaskaTeach »

I found this forum a couple of years ago or less. I remember reading that the first 100k is the hardest. I am a contrarian about 90% of the time. My DW and I hit our first 100k in 1999, mostly because of the outrageous high tech gains. We married in the early 90s and I had done quite a bit of investing before then. It came easy. I didn't do anything. Then came the crashy 2000s and I stopped looking at balances.

Raising a family, buying and selling a house, making mistakes, etc. between then and now, but was finally able to start saving and investing money again about almost 3 years ago. Net worth hit 200k earlier this school year.

I will hit the maximum for 457b calendar year(30k) after end of May deduction is sent. There is more to come.
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Stinky
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Re: Post your Financial Milestone Announcements Here

Post by Stinky »

AlaskaTeach wrote: Sun May 07, 2023 10:59 pm I found this forum a couple of years ago or less. I remember reading that the first 100k is the hardest. I am a contrarian about 90% of the time. My DW and I hit our first 100k in 1999, mostly because of the outrageous high tech gains. We married in the early 90s and I had done quite a bit of investing before then. It came easy. I didn't do anything. Then came the crashy 2000s and I stopped looking at balances.

Raising a family, buying and selling a house, making mistakes, etc. between then and now, but was finally able to start saving and investing money again about almost 3 years ago. Net worth hit 200k earlier this school year.

I will hit the maximum for 457b calendar year(30k) after end of May deduction is sent. There is more to come.
I’m glad that your wealth is building.

You’re on a good track by contributing aggressively to your savings plans and by following Boglehead principles.

Congratulations!
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
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Re: Two Comma Club

Post by rene »

rene wrote: Wed Feb 10, 2021 1:33 am
rene wrote: Fri Feb 17, 2017 1:37 pm Congrats to the op!!!

I joined the 2 comma club this week ...

BUT it's 2 commas for the total of my taxable, 401K and Roth investments. It does not take into consideration $15K student debt, $13K car loan, $20K company stock loan and 460K remaining mortgage (nor does it add home equity to the total)

Next goals :

1) within 12 months : 2 comma club with car/student/company stock debts paid off.

2) within 2 years : 2 comma club just for the 401k portion

3) within ?? years : 2 million club for 401K
Just revisiting my post and update...

1) done
2) done
3) at 1.6M ... work in progress.

New goals:

1) 2025 : $2M 401K
2) 2035 : House paid off, $4M 401K
Milestone check-in completed...

Net worth (401K, Roth, HSA, Taxable) is $2.3M. Terrible stock market last year hurt but able to keep saving. Now 53 years old married with 2 kids so looking at retirement planning. FIRE loosely based on home paid off with $5M NW in investments, home not included.

Goals now adjusted to :
1) 2025 (55 yr) : 401K = $2M + Taxable = $500K
2) 2030 (60 yr) : House paid off, 401K = $3M
3) 2035 (65 yr) : 401K+Roth+Taxable = $5M
ze233
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Re: Two Comma Club

Post by ze233 »

rene wrote: Tue May 09, 2023 4:21 pm
rene wrote: Wed Feb 10, 2021 1:33 am
rene wrote: Fri Feb 17, 2017 1:37 pm Congrats to the op!!!

I joined the 2 comma club this week ...

BUT it's 2 commas for the total of my taxable, 401K and Roth investments. It does not take into consideration $15K student debt, $13K car loan, $20K company stock loan and 460K remaining mortgage (nor does it add home equity to the total)

Next goals :

1) within 12 months : 2 comma club with car/student/company stock debts paid off.

2) within 2 years : 2 comma club just for the 401k portion

3) within ?? years : 2 million club for 401K
Just revisiting my post and update...

1) done
2) done
3) at 1.6M ... work in progress.

New goals:

1) 2025 : $2M 401K
2) 2035 : House paid off, $4M 401K
Milestone check-in completed...

Net worth (401K, Roth, HSA, Taxable) is $2.3M. Terrible stock market last year hurt but able to keep saving. Now 53 years old married with 2 kids so looking at retirement planning. FIRE loosely based on home paid off with $5M NW in investments, home not included.

Goals now adjusted to :
1) 2025 (55 yr) : 401K = $2M + Taxable = $500K
2) 2030 (60 yr) : House paid off, 401K = $3M
3) 2035 (65 yr) : 401K+Roth+Taxable = $5M
Congratulations. You are doing great. I think you should be able to meet your goals and then some. You will probably be able to retire before 65 and have time to enjoy life more before old age catches up to you.
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ruralavalon
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Re: Two Comma Club

Post by ruralavalon »

rene wrote: Tue May 09, 2023 4:21 pm
rene wrote: Wed Feb 10, 2021 1:33 am
rene wrote: Fri Feb 17, 2017 1:37 pm Congrats to the op!!!

I joined the 2 comma club this week ...

BUT it's 2 commas for the total of my taxable, 401K and Roth investments. It does not take into consideration $15K student debt, $13K car loan, $20K company stock loan and 460K remaining mortgage (nor does it add home equity to the total)

Next goals :

1) within 12 months : 2 comma club with car/student/company stock debts paid off.

2) within 2 years : 2 comma club just for the 401k portion

3) within ?? years : 2 million club for 401K
Just revisiting my post and update...

1) done
2) done
3) at 1.6M ... work in progress.

New goals:

1) 2025 : $2M 401K
2) 2035 : House paid off, $4M 401K
Milestone check-in completed...

Net worth (401K, Roth, HSA, Taxable) is $2.3M. Terrible stock market last year hurt but able to keep saving. Now 53 years old married with 2 kids so looking at retirement planning. FIRE loosely based on home paid off with $5M NW in investments, home not included.

Goals now adjusted to :
1) 2025 (55 yr) : 401K = $2M + Taxable = $500K
2) 2030 (60 yr) : House paid off, 401K = $3M
3) 2035 (65 yr) : 401K+Roth+Taxable = $5M
Congratulations on two comma club in your 401k account at age 53 :D .
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link: Bogleheads® investment philosophy
fitawrari
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Re: Post your Financial Milestone Announcements Here

Post by fitawrari »

One of my account is back to end of 2021 balance. That is with a contribution of $115k in 2022 and to-date 2023.
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