Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I just hit $100k in investments a couple months ago. It took nearly 4 years to get to that, with my investment balance at only around $30k a year before. Started a job with a much higher salary so disposable income has tripled while we've made no change in our consumption habits/lifestyle. That means now almost $75k annually going into investments. Hopefully $200k will be by end of next year, then $500k only a few years later. With compound interest I'm projecting to hit $1 million 7-8 years from now if I stay in the same job that long. To be honest I likely won't reach 1 million for much longer as I intend to stop working by the time we hit $600k in assets and pursue my hobbies full-time for a bit. Should be in about 5 years if all goes steady. My wife already has her own business which is her passion so we should be able to live just fine on her (growing) income plus very modest portfolio withdrawals by that time.
What an inspiring read. Congratulations to all who have shared. At 70 years of age, we've both been retired from our "career" occupations for over 20 years. Due to my spouse's shrewd business decisions over that period as well as some inheritances, our investment portfolio has grown to $640,000. We also earned pensions amounting to $88,000 annually, which are taxed only at the federal level and are somewhat inflation/COLA protected. Our home, vehicles, and collections are nice and are all paid for and insured. We live in a low cost of living area.
We feel pretty good about where we are at. But I still would really like to see that portfolio amount go to a million. We have moved to an actively managed portfolio in hopes this can be accomplished and are having allocations adjusted to ensure we have some protection on the downside. Maybe in a five years we'll be there! I think we'll be in good shape in any event.
I just hit $100k in investments a couple months ago. It took nearly 4 years to get to that, with my investment balance at only around $30k a year before. Started a job with a much higher salary so disposable income has tripled while we've made no change in our consumption habits/lifestyle. That means now almost $75k annually going into investments. Hopefully $200k will be by end of next year, then $500k only a few years later. With compound interest I'm projecting to hit $1 million 7-8 years from now if I stay in the same job that long. To be honest I likely won't reach 1 million for much longer as I intend to stop working by the time we hit $600k in assets and pursue my hobbies full-time for a bit. Should be in about 5 years if all goes steady. My wife already has her own business which is her passion so we should be able to live just fine on her (growing) income plus very modest portfolio withdrawals by that time.
i hit 100k in the 1980's and i remember how excited i wise . no one in my family ever had that much money .
one of the side effects to having a big portfolio is also the dollar value of losses when the market goes down. In just the last 4 trading days my portfolio has gone down $7,000 (due to the bond rout, big dip in domestic equities, big dips in broad Intl and in EM - in summary all sectors down but bonds and Intl down significantly).
I know these day to day fluctuations are not long term relevant but it's still alarming to see such large figures up and down and it will only get worse going forward. Someone with a $1M portfolio will have a $20,000 loss with a 2% downward movement of the markets, a common occurrence in short time frames but a shocking amount nonetheless to be down in a week or two. I mean, $20k is a car or some people's salary, nothing to scoff at.
one of the side effects to having a big portfolio is also the dollar value of losses when the market goes down. In just the last 4 trading days my portfolio has gone down $7,000 (due to the bond rout, big dip in domestic equities, big dips in broad Intl and in EM - in summary all sectors down but bonds and Intl down significantly).
I know these day to day fluctuations are not long term relevant but it's still alarming to see such large figures up and down and it will only get worse going forward. Someone with a $1M portfolio will have a $20,000 loss with a 2% downward movement of the markets, a common occurrence in short time frames but a shocking amount nonetheless to be down in a week or two. I mean, $20k is a car or some people's salary, nothing to scoff at.
ive mentally conditioned myself to not be bothered at all at drops like that. anything less than 10% wouldnt make me feel a thing.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
