milestone reached!

[LivingAlmostLarge]

Congrats! to everyone

[bennkar]

In late 2020 I hit my first million in liquid investments (no real estate, etc...), then retired in June 2023 with $1.7 million. During this run up after the election I crossed two million which surprised me.

Funny thing about a decade ago (actually now that I think about it, it was 15 years) I started helping my mother with her investments. Two years ago she was around $750k, and now she is not far from a million. There are days I think she is a better investor than I am. I guess I taught her well .

[james.hendrickson]

Congratulations Rigz!!!

You'll be at 4 million in no time at all!

[LivingAlmostLarge]

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!

Maybe but part of it really depends on the draw down

[srblanco7]

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 .

Same. Our portfolio gains YTD are approximately 170% of our best year annual income (though I haven't quite stopped working as of yet).

[disneysteve]

Compound interest is a wonderful thing. Those years when your investment returns significantly exceed your annual working income are fantastic.

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 .

[srblanco7]

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!

Compound interest is a wonderful thing. Those years when your investment returns significantly exceed your annual working income are fantastic.

[myrdale]

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!

[srblanco7]

Congrats!

[LivingAlmostLarge]

yay congrats!

[rigz]

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.

agreed

[disneysteve]

Bump…

Recently passed 3 million net worth! About 2.2 million in investments. The rest in home equity and cash.

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.

[rigz]

Bump…

Recently passed 3 million net worth! About 2.2 million in investments. The rest in home equity and cash.

[tripods68]

Nice congrats!

[rigz]

Nice to see an update that wasnt bumped from spam. Congrats!

thanks!

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.

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!

agreed. and yes this bull market has been quite nice.

That's fantastic!

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?

its about the same (~20%). investments also did quite well. i know it wont last forever though.

Congratulations!!!! Was it the bull market or did your income increase? A million in 5.5 years is AMAZING!

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.