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Congrats again. Do you plan to work till 65? Or till you get sick of your job? Or is there a set amount you hope to achieve and get out of the rat race?
Congrats again. Do you plan to work till 65? Or till you get sick of your job? Or is there a set amount you hope to achieve and get out of the rat race?
thanks. I plan to work until age 50, so about 3 years more. I live frugally (by choice) so I am actually adding about $90K/yr to my portfolio each year. Since my expenses are rather low and I have no debts at all I can sustain myself on not too much of an annual withdrawal. I may also consider retiring abroad, like Portugal, SE Asia or S. America - an alternative I am exploring. With the advent of remote working (especially in my field) it is a possibility to live elsewhere and work remote for a US company.
I love the field I work in but I will continue working after 50 only if I can find projects that I really love. I really loved my previous job (amazing boss, work environment, good pay and teammates) which I had to leave unfortunately due to Covid.. my current job I am not so crazy about but the pay is good, it isn't terrible but i'm not too excited about it including the people I work with unfortunately. Hopefully I can be a little more selective going forward in the type of jobs I want.
Today is the day I see that elusive extra digit on my portfolio balance, my official entry into the 7 figure club. It's been a long time coming but I am finally here. I know I will probably get kicked out and inside of this mark over the next few months or possible even years, who knows, but it's a great feeling to have finally accomplished it with diligent investing and a little bit of luck in the markets.
It's been a wild ride - $375K Net Worth at age 42 to $1M+ at age 47, glad I HODL through all the market madness over the years.
So here is my final NW Update:
Location: Texas
Age: 47
Income: $175k/yr inclusive of bonuses + stock NW: $1.00038 Million (investments only, not inclusive of my property - car, personal prop. etc.)
We're going to send you the millionaire club jacket and a special invitation to our secret summer yacht party
But from reading your posts, I'm sure you'll find a way to make up for it one way or another.
Yes, you're right:
-This month I'm back to writing down each and every purchase at the end of the day.
-I'm menu planning and not giving in to the impulse of eating out or getting coffee everyday (we got really bad with the latter). When we do go out for coffee I bring my own instant coffee and hot water and only my husband and/or kids order drinks. It honestly makes no difference to me.. it's sitting in the coffee shop with a warm beverage that I'm looking for.
-I'm setting the farm budget to what our condo rental brings in... unfortunately I had forgotten a purchase I made that was backordered and that item is now available and the payment is pending so I've pretty much blown through the monthly farm budget and it's only June 2!
If I do these things we'll be exiting the month with half a paycheck, which we will divide between college savings, big expense (trip to London, tractor, car.. in that order) and domestic travel (son's soccer games).
In other words: We're going to be okay! Even without my mom's estate settlement. I just need to learn to pace myself!
Today is the day I see that elusive extra digit on my portfolio balance, my official entry into the 7 figure club. It's been a long time coming but I am finally here. I know I will probably get kicked out and inside of this mark over the next few months or possible even years, who knows, but it's a great feeling to have finally accomplished it with diligent investing and a little bit of luck in the markets.
It's been a wild ride - $375K Net Worth at age 42 to $1M+ at age 47, glad I HODL through all the market madness over the years.
So here is my final NW Update:
Location: Texas
Age: 47
Income: $175k/yr inclusive of bonuses + stock NW: $1.00038 Million (investments only, not inclusive of my property - car, personal prop. etc.)
If you don't mind me asking - what app are you using?
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