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Nice to see an update that wasnt bumped from spam. Congrats!
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Congrats! That's some pretty solid growth, and the dollar figures will only get bigger even faster over time, especially as you keep adding to your savings. Compounding interest is a wonderful thing, as long as it's working for you.Originally posted by rigz View Post
We crossed the $1M line back in July, so if we manage to cross $2M around 5 years from now, I'd be thrilled! But we're enjoying a long-running bull market, which has assuredly helped us both, so who knows how long that party will last. But let's enjoy it while we can!Comment
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That's fantastic!Originally posted by rigz View Post
You had mentioned originally that the $1 million included home equity which was about 20% of the total. How is that now? Did your investments grow a lot (probably) or your home value shoot up, or some of both?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
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Originally posted by rigz View Post
Congratulations!!!! Was it the bull market or did your income increase? A million in 5.5 years is AMAZING!
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thanks!Originally posted by rennigade View Post
agreed. and yes this bull market has been quite nice.Originally posted by kork13 View Post
its about the same (~20%). investments also did quite well. i know it wont last forever though.Originally posted by disneysteve View Post
the bull market definitely helped. our income went up some. I cant remember exactly how much it was then so im guessing it was in the low 200s. now its around 250.Originally posted by Scallywag View Post
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Bump…
Recently passed 3 million net worth! About 2.2 million in investments. The rest in home equity and cash.Comment
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It's amazing how quickly it compounds as the portfolio gets bigger and bigger. The first million is the hardest but the 2nd and 3rd and on from there come much quicker.Originally posted by rigz View PostSteve
* 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
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Congrats!“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”Comment
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It all depends on interest rates and the market, but my personal rule of thumb is doubling every 7 years. It looks like you're pretty close to this model:
6/2014 - $1M
1/2020 - $2M
6/2024 - $3M
And now the full part, projection...
1/2027 - $4M
1/2033 - $6M
1/2040 - $12M
I know it is a long way off, but the day will come!Comment
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Compound interest is a wonderful thing. Those years when your investment returns significantly exceed your annual working income are fantastic.Originally posted by myrdale View Post“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”Comment
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For sure. Year to date our portfolio is up over $300,000 which is well more than I ever earned working. And that’s why I’m no longer workingOriginally posted by srblanco7 View Post
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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
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Same. Our portfolio gains YTD are approximately 170% of our best year annual income (though I haven't quite stopped working as of yet).Originally posted by disneysteve View Post
For sure. Year to date our portfolio is up over $300,000 which is well more than I ever earned working. And that’s why I’m no longer working .“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”Comment
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