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    milestone reached!

    just wanted to share. I check our finances regularly (investment accounts, bank statements, credit cards, etc) but I do a net worth check a couple times a year.

    this past time I checked, our net worth passed 1 million! two commas!

    of course it can always drop back down depending on the market, but we will just have to pass 1 million twice I guess

    I did include our home equity which was about 20% of our net worth.

    my wife and I are in our mid-to-late 30s. 10 years ago we probably had less than 10k combined. so its been a long road but saving well, working hard and watching our spending has paid off so far.

    thanks to all the help I get from this board.

    #2
    Wow! Awesome. Congrats!
    Brian

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      #3
      Fantastic!

      I haven't checked ours yet and I never include home equity when I do the calculation but if I count that, we're probably around the million mark as well (except we're 50, not 30s). You guys are doing great!
      Steve

      * Despite the high cost of living, it remains very popular.
      * Why should I pay for my daughter's education when she already knows everything?
      * There are no shortcuts to anywhere worth going.

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        #4
        it is amazing how big the snowball gets once it starts rolling
        retired in 2009 at the age of 39 with less than 300K total net worth

        Comment


          #5
          Excellent work! Do you have a target number, where you will be comfortable scaling back the 'working hard?'

          Comment


            #6
            Originally posted by 97guns View Post
            it is amazing how big the snowball gets once it starts rolling
            Very true. It very quickly gets to the point where the bulk of the growth each year comes from earnings and compounding as opposed to contributions like in the early years.
            Steve

            * Despite the high cost of living, it remains very popular.
            * Why should I pay for my daughter's education when she already knows everything?
            * There are no shortcuts to anywhere worth going.

            Comment


              #7
              Originally posted by disneysteve View Post
              Very true. It very quickly gets to the point where the bulk of the growth each year comes from earnings and compounding as opposed to contributions like in the early years.
              I'm starting to see a tipping point in my investments where this very thing is happening. The growth of my portfolio is starting to accelerate quite nicely.
              Brian

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                #8
                Originally posted by bjl584 View Post
                I'm starting to see a tipping point in my investments where this very thing is happening. The growth of my portfolio is starting to accelerate quite nicely.
                The annual growth of our portfolio exceeds our annual income.
                Steve

                * Despite the high cost of living, it remains very popular.
                * Why should I pay for my daughter's education when she already knows everything?
                * There are no shortcuts to anywhere worth going.

                Comment


                  #9
                  Originally posted by disneysteve View Post
                  The annual growth of our portfolio exceeds our annual income.
                  All things being equal, I'll see this same thing happen in a few years.
                  Brian

                  Comment


                    #10
                    It feels wonderful to offer huge congratulations to a couple who are only 10 yrs in and hitting such an important milestone. Good on You!

                    Just like debt the snowball you'll soon discover your Net Worth figures will increase effectively in spite of gyrations in the market and days when you see a drop in figures because something happened somewhere in the world like Iraqi conflagration affecting gas prices. Perhaps you'd be willing to offer a brief outline of steps you've taken that would help others.

                    Comment


                      #11
                      I'm nearing the half million mark (including home equity.) It feels great.

                      Comment


                        #12
                        thanks for all the positive comments!

                        Originally posted by autoxer View Post
                        Excellent work! Do you have a target number, where you will be comfortable scaling back the 'working hard?'
                        no number in mind as of yet. just going to continue working hard and saving what we can.

                        Originally posted by disneysteve View Post
                        Very true. It very quickly gets to the point where the bulk of the growth each year comes from earnings and compounding as opposed to contributions like in the early years.
                        we are right around that and it feels good.

                        cant wait until our earnings/compounding exceed our salaries!

                        Originally posted by snafu View Post
                        It feels wonderful to offer huge congratulations to a couple who are only 10 yrs in and hitting such an important milestone. Good on You!

                        Just like debt the snowball you'll soon discover your Net Worth figures will increase effectively in spite of gyrations in the market and days when you see a drop in figures because something happened somewhere in the world like Iraqi conflagration affecting gas prices. Perhaps you'd be willing to offer a brief outline of steps you've taken that would help others.
                        the steps are pretty simple for us: work hard and save as much as possible. we dont spend excessively so it definitely helps to speed things along. we make good money so that helps, even though we live in a HCOL area (orange county, socal).

                        always max out ROTH IRAs for both of us. always max out her TSP. any big purchases we research extensively. i wish i had a magical formula to give away but it wasnt like that. (of course the market last year was amazing so that helped)

                        thanks again for the help from this board. i read it a lot.

                        Comment


                          #13
                          Originally posted by bjl584 View Post
                          All things being equal, I'll see this same thing happen in a few years.
                          Originally posted by disneysteve View Post
                          The annual growth of our portfolio exceeds our annual income.
                          For the last 2 years growth has exceeded income for me. I doubt I'll see that this year however, even though I am saving 40% annually. Oh well, you can't have crazy growth every year.
                          Don't torture yourself, thats what I'm here for.

                          Comment


                            #14
                            Originally posted by bennyhoff View Post
                            For the last 2 years growth has exceeded income for me. I doubt I'll see that this year however, even though I am saving 40% annually. Oh well, you can't have crazy growth every year.
                            Yes, crazy high returns help a great deal. Several of our funds have been up 20 or 30%.
                            Steve

                            * Despite the high cost of living, it remains very popular.
                            * Why should I pay for my daughter's education when she already knows everything?
                            * There are no shortcuts to anywhere worth going.

                            Comment


                              #15
                              Bumping an old thread...

                              5.5 years later we just passed 2 million!

                              woohoo!

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