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A spin off from the other thread... at what age did your portfolio *first* hit $1M? What was your reaction - i.e. was this a highly anticipated event for you? A culmination of years of diligence or did you think nothing special of it? What does having $1M in investment assets mean to you?
If you have not reached that mark are you aiming for it? If so, when do you reasonable expect that to happen?
Personally I *just* hit the half-Mil mark a few days ago and it does feel interesting. At my current contribution rate and a 6% return I should hit that mark at exactly 50 years of age (6 yrs from now) which is my goal but the markets need to co-operate. I think hitting $1M at 50 would be significant for me.
When I was born, had no reaction- blew it when I was late teens then earned it back although no where near what it could be yet- still accumulating, not in withdrawal stage for many more years. My advice- save! save! save! and worry more about having a proper allocation as opposed to the next hot stock.
A spin off from the other thread... at what age did your portfolio *first* hit $1M? What was your reaction - i.e. was this a highly anticipated event for you? A culmination of years of diligence or did you think nothing special of it? What does having $1M in investment assets mean to you?
If you have not reached that mark are you aiming for it? If so, when do you reasonable expect that to happen?
Personally I *just* hit the half-Mil mark a few days ago and it does feel interesting. At my current contribution rate and a 6% return I should hit that mark at exactly 50 years of age (6 yrs from now) which is my goal but the markets need to co-operate. I think hitting $1M at 50 would be significant for me.
If I can maintain current investment amount and average >3.5% growth...55 (10 years). I'm more looking forward to my FI number of 750, that's when I'll breathe easy.
Sometime in our 40s. Two major factors that influence wealth accumulation include:
level of income (hard to save with a low income)
how much you spend
Education in the right field is the key for many people. Marrying the 'right' person can also play an important role, both from an income as well as expenditure perspective.
I was 43, very nice but only 1/2 way to retirement goal. 6 years later much closer to our goal.
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