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Re: If you hit $3M by your 40s, what did you do after that
carminered2019 wrote: ↑Tue Sep 17, 2024 11:31 ammikejuss wrote: ↑Tue Sep 17, 2024 11:01 amcarminered2019 wrote: ↑Tue Sep 17, 2024 10:38 am
I turned my 3.2M in my late 40s to six.4M 5 years later with out new contributionsUm, how?
All-in Covid 2020 low and 2022. Sure, I do know market timing will not be really useful.
So you purchased a ton of inventory in March of 2020? Congrats, although I would not count on that form of lightning to strike twice. What had been you doing earlier than Covid struck–just sitting on tens of millions of {dollars} in money?
50% VTSAX | 25% VTIAX | 25% VBTLX (retirement), 25% VTEAX (taxable)
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Re: If you hit $3M by your 40s, what did you do after that
Solely partially joking! I discovered that reaching monetary freedom made me query what life I truly needed to dwell vs the one I used to be slogging by means of for max compensation. Have since taken a number of steps to simplify life and luxuriate in time with youngsters, plus work on well being. Happiness comes from inside.
Re: If you hit $3M by your 40s, what did you do after that
mikejuss wrote: ↑Tue Sep 17, 2024 11:36 amcarminered2019 wrote: ↑Tue Sep 17, 2024 11:31 ammikejuss wrote: ↑Tue Sep 17, 2024 11:01 amcarminered2019 wrote: ↑Tue Sep 17, 2024 10:38 am
I turned my 3.2M in my late 40s to six.4M 5 years later with out new contributionsUm, how?
All-in Covid 2020 low and 2022. Sure, I do know market timing will not be really useful.
So you purchased a ton of inventory in March of 2020? Congrats, although I would not count on that form of lightning to strike twice. What had been you doing earlier than Covid struck–just sitting on tens of millions of {dollars} in money?
What’s there actually to know? This may be defined even with index funds. Anybody holding the S&P 500 index on the 2020 backside by means of at the moment has doubled their cash from the underside.
Re: If you hit $3M by your 40s, what did you do after that
MoreTaxes wrote: ↑Tue Sep 17, 2024 2:06 pmmikejuss wrote: ↑Tue Sep 17, 2024 11:36 amcarminered2019 wrote: ↑Tue Sep 17, 2024 11:31 ammikejuss wrote: ↑Tue Sep 17, 2024 11:01 amcarminered2019 wrote: ↑Tue Sep 17, 2024 10:38 am
I turned my 3.2M in my late 40s to six.4M 5 years later with out new contributionsUm, how?
All-in Covid 2020 low and 2022. Sure, I do know market timing will not be really useful.
So you purchased a ton of inventory in March of 2020? Congrats, although I would not count on that form of lightning to strike twice. What had been you doing earlier than Covid struck–just sitting on tens of millions of {dollars} in money?
What’s there actually to know? This may be defined even with index funds. Anybody holding the S&P 500 index on the 2020 backside by means of at the moment has doubled their cash from the underside.
I do not dispute that in March 2020 the S&P 500 was round 2,300 and that at the moment it is round 5,600. However I will enterprise a guess that firstly of 2020 most individuals weren’t sitting on all money and ready for a black-swan occasion to happen earlier than investing it–and thus most individuals’s portfolio has not doubled between 2020 and at the moment. That is fairly uncommon.
50% VTSAX | 25% VTIAX | 25% VBTLX (retirement), 25% VTEAX (taxable)
Re: If you hit $3M by your 40s, what did you do after that
mikejuss wrote: ↑Tue Sep 17, 2024 2:14 pmMoreTaxes wrote: ↑Tue Sep 17, 2024 2:06 pmmikejuss wrote: ↑Tue Sep 17, 2024 11:36 amcarminered2019 wrote: ↑Tue Sep 17, 2024 11:31 amAll-in Covid 2020 low and 2022. Sure, I do know market timing will not be really useful.
So you purchased a ton of inventory in March of 2020? Congrats, although I would not count on that form of lightning to strike twice. What had been you doing earlier than Covid struck–just sitting on tens of millions of {dollars} in money?
What’s there actually to know? This may be defined even with index funds. Anybody holding the S&P 500 index on the 2020 backside by means of at the moment has doubled their cash from the underside.
I do not dispute that in March 2020 the S&P 500 was round 2,300 and that at the moment it is round 5,600. However I will enterprise a guess that firstly of 2020 most individuals weren’t sitting on all money and ready for a black-swan occasion to happen earlier than investing it–and thus most individuals’s portfolio has not doubled between 2020 and at the moment. That is fairly uncommon.
He did not say he was sitting on money earlier than 2020. He mentioned he was at $3.2M and went to $6.4M in 5 years with no contributions.
And I would not say this can by no means occur out there once more. In every of the years 2000 by means of 2023, the S&P has doubled over the earlier 5 years seven occasions, i.e., greater than 25% of the time.
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Re: If you hit $3M by your 40s, what did you do after that
mikejuss wrote: ↑Tue Sep 17, 2024 2:14 pmMoreTaxes wrote: ↑Tue Sep 17, 2024 2:06 pmmikejuss wrote: ↑Tue Sep 17, 2024 11:36 amcarminered2019 wrote: ↑Tue Sep 17, 2024 11:31 amAll-in Covid 2020 low and 2022. Sure, I do know market timing will not be really useful.
So you purchased a ton of inventory in March of 2020? Congrats, although I would not count on that form of lightning to strike twice. What had been you doing earlier than Covid struck–just sitting on tens of millions of {dollars} in money?
What’s there actually to know? This may be defined even with index funds. Anybody holding the S&P 500 index on the 2020 backside by means of at the moment has doubled their cash from the underside.
I do not dispute that in March 2020 the S&P 500 was round 2,300 and that at the moment it is round 5,600. However I will enterprise a guess that firstly of 2020 most individuals weren’t sitting on all money and ready for a black-swan occasion to happen earlier than investing it–and thus most individuals’s portfolio has not doubled between 2020 and at the moment. That is fairly uncommon.
Why did they need to have money and purchase on the backside? They might have simply held index funds that went up in worth.
Re: If you hit $3M by your 40s, what did you do after that
All of it is determined by when your begin and finish dates are. For those who purchased in March 2020, you may need doubled your cash earlier this yr. For those who purchased in February 2020, you have not doubled your cash but.
50% VTSAX | 25% VTIAX | 25% VBTLX (retirement), 25% VTEAX (taxable)
Re: If you hit $3M by your 40s, what did you do after that
saagar_is_cool wrote: ↑Mon Sep 16, 2024 9:20 pm
I’ve seen in some threads that $3M is the brand new new $1 million as of late with inflation and so forth.For those who hit $3M (not web price however portfolio / earnings producing property and excludes fairness in residence the place you reside) by your 40s, what did you do after reaching the milestone
1. Did you simplify your life by paying others to do extra issues that you just didn’t wish to do like cleansing crew, yard work, snow removing and so forth.
2. What did you do to your funds – diid you rent a monetary planner and so forth.
3. Did you get any premium advantages at your financial institution / brokerage – any premium bank cards or personal consumer experiences ? card with lounge entry at airports atc. ?
4. Did you splurge on journey, air tickets like enterprise class and higher resort rooms and so forth.
5. Anything that you just wouldn’t do however began doing as a result of you’re a millionaire (3 millionaire as of late)
6. Every other experiences in the event you didn’t retire and continued to workMy goal retirement quantity was $3M with a paid off home for a very long time, however I spotted that I don’t wish to retire early.
I’m looking for motivation and in addition have a look at what I ought to do otherwise as soon as we get there primarily based on the experiences right here.
I don’t have the issue of “can’t spend after being in saver mode”, however wish to optimize as a lot as potential.
Not one of the above, since I by no means tracked such milestones. Simply stored on truckin’. (and dealing and saving). My objective was by no means to retire ‘early’. A buy-and-hold and overlook it investor.
Re: If you hit $3M by your 40s, what did you do after that
supalong52 wrote: ↑Tue Sep 17, 2024 2:36 pmmikejuss wrote: ↑Tue Sep 17, 2024 2:14 pmMoreTaxes wrote: ↑Tue Sep 17, 2024 2:06 pmmikejuss wrote: ↑Tue Sep 17, 2024 11:36 amcarminered2019 wrote: ↑Tue Sep 17, 2024 11:31 amAll-in Covid 2020 low and 2022. Sure, I do know market timing will not be really useful.
So you purchased a ton of inventory in March of 2020? Congrats, although I would not count on that form of lightning to strike twice. What had been you doing earlier than Covid struck–just sitting on tens of millions of {dollars} in money?
What’s there actually to know? This may be defined even with index funds. Anybody holding the S&P 500 index on the 2020 backside by means of at the moment has doubled their cash from the underside.
I do not dispute that in March 2020 the S&P 500 was round 2,300 and that at the moment it is round 5,600. However I will enterprise a guess that firstly of 2020 most individuals weren’t sitting on all money and ready for a black-swan occasion to happen earlier than investing it–and thus most individuals’s portfolio has not doubled between 2020 and at the moment. That is fairly uncommon.
Why did they need to have money and purchase on the backside? They might have simply held index funds that went up in worth.
All of it is determined by what the unique buy value was.
50% VTSAX | 25% VTIAX | 25% VBTLX (retirement), 25% VTEAX (taxable)
Re: If you hit $3M by your 40s, what did you do after that
mikejuss wrote: ↑Tue Sep 17, 2024 2:45 pmsupalong52 wrote: ↑Tue Sep 17, 2024 2:36 pmmikejuss wrote: ↑Tue Sep 17, 2024 2:14 pm
I do not dispute that in March 2020 the S&P 500 was round 2,300 and that at the moment it is round 5,600. However I will enterprise a guess that firstly of 2020 most individuals weren’t sitting on all money and ready for a black-swan occasion to happen earlier than investing it–and thus most individuals’s portfolio has not doubled between 2020 and at the moment. That is fairly uncommon.Why did they need to have money and purchase on the backside? They might have simply held index funds that went up in worth.
All of it is determined by what the unique buy value was.
OP mentioned they “turned their 3.2M of their late 40s to six.4M 5 years later with out new contributions”. Right now is Sep seventeenth 2024, 5 years in the past was Sep seventeenth 2019. SPY(together with reinvested dividends) is up 98% over that precise timespan, VTI is up 93%. The OP’s declare appears completely official, and does not require having been sitting on idle money ready for some black swan occasion to happen. All that was wanted was having $3.2M in SPY in September of 2019 and never contact it for five years.
Re: If you hit $3M by your 40s, what did you do after that
tjtv wrote: ↑Tue Sep 17, 2024 4:10 pmmikejuss wrote: ↑Tue Sep 17, 2024 2:45 pmsupalong52 wrote: ↑Tue Sep 17, 2024 2:36 pmmikejuss wrote: ↑Tue Sep 17, 2024 2:14 pm
I do not dispute that in March 2020 the S&P 500 was round 2,300 and that at the moment it is round 5,600. However I will enterprise a guess that firstly of 2020 most individuals weren’t sitting on all money and ready for a black-swan occasion to happen earlier than investing it–and thus most individuals’s portfolio has not doubled between 2020 and at the moment. That is fairly uncommon.Why did they need to have money and purchase on the backside? They might have simply held index funds that went up in worth.
All of it is determined by what the unique buy value was.
OP mentioned they “turned their 3.2M of their late 40s to six.4M 5 years later with out new contributions”. Right now is Sep seventeenth 2024, 5 years in the past was Sep seventeenth 2019. SPY(together with reinvested dividends) is up 98% over that precise timespan, VTI is up 93%. The OP’s declare appears completely official, and does not require having been sitting on idle money ready for some black swan occasion to happen. All that was wanted was having $3.2M in SPY in September of 2019 and never contact it for five years.
The poster mentioned this by why explaining how she or he doubled their cash: “All-in Covid 2020 low and 2022. Sure, I do know market timing will not be really useful.”
50% VTSAX | 25% VTIAX | 25% VBTLX (retirement), 25% VTEAX (taxable)
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Re: If you hit $3M by your 40s, what did you do after that
livesoft wrote: ↑Tue Sep 17, 2024 6:59 amsaagar_is_cool wrote: ↑Mon Sep 16, 2024 9:20 pmFor those who hit $3M (not web price however portfolio / earnings producing property and excludes fairness in residence the place you reside) by your 40s, what did you do after reaching the milestoneSimple: The portfolio hit 2007-2009.
That is considered one of my fears to be sincere. $3M or any quantity appears arbitrary as it’s a snapshot in time. Because of this I chorus from doing any large modifications like spending extra, taking costly journeys and so forth. and therefore this thread to see how others did
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Re: If you hit $3M by your 40s, what did you do after that
vrr106 wrote: ↑Tue Sep 17, 2024 7:35 amsaagar_is_cool wrote: ↑Mon Sep 16, 2024 9:20 pm
I’ve seen in some threads that $3M is the brand new new $1 million as of late with inflation and so forth.For those who hit $3M (not web price however portfolio / earnings producing property and excludes fairness in residence the place you reside) by your 40s, what did you do after reaching the milestone
1. Did you simplify your life by paying others to do extra issues that you just didn’t wish to do like cleansing crew, yard work, snow removing and so forth.
2. What did you do to your funds – did you rent a monetary planner and so forth.
3. Did you get any premium advantages at your financial institution / brokerage – any premium bank cards or personal consumer experiences ? card with lounge entry at airports atc. ?
4. Did you splurge on journey, air tickets like enterprise class and higher resort rooms and so forth.
5. Anything that you just wouldn’t do however began doing as a result of you’re a millionaire (3 millionaire as of late)
6. Every other experiences in the event you didn’t retire and continued to workMy goal retirement quantity was $3M with a paid off home for a very long time, however I spotted that I don’t wish to retire early.
I’m looking for motivation and in addition have a look at what I ought to do otherwise as soon as we get there primarily based on the experiences right here.
I don’t have the issue of “can’t spend after being in saver mode”, however wish to optimize as a lot as potential.
It wasn’t a lightswitch for us however a extra gradual change in sure issues:
1. Flying enterprise on lengthy haul, makes an enormous distinction to our vitality ranges and jetlag
2. Now not have a look at the costs on issues in a restaurant menu
3. Employed weekly home cleaner (was each different week), have just about all the time had folks do garden
4. Purchased new automotive (however youngsters will nonetheless “inherit” the outdated automobiles)
5. Purchase the most recent iPhone as an alternative of 1-2 gens outdated
6. Purchase garments we like versus what’s on saleall these add up, however so long as we’re underneath 3.5% spending I’m okay. To sum it, we’ve just about stopped taking a look at how a lot issues price because it pertains to common purchasing/consuming/residence companies and so forth.
Nonetheless not able to splurge actually large on residence renovations, not prepared to purchase a second residence or tremendous fancy automobiles.
Why underneath 3.5% of inestable property if you’re nonetheless working. Do you imply no further financial savings and preserve underneath 3.5% of portfolio worth ?
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Re: If you hit $3M by your 40s, what did you do after that
chicagoan23 wrote: ↑Tue Sep 17, 2024 8:38 amsaagar_is_cool wrote: ↑Tue Sep 17, 2024 6:04 am
My goal retirement quantity was $3M with a paid off home for a very long time, however I spotted that I don’t wish to retire early.
I don’t actually “measure” any life’s milestones. I simply preserve going, I all the time saved proper from faculty days as a result of it got here naturally to me to spend some and avoid wasting from Day 1 of incomes. I’m reaching a degree the place I wish to outline what I actually need – it’s not cash or web price as I have a look at them as means to an finish. Attempting to determine what that objective is and the way all these financial savings assist in direction of it. So I’m searching for completely different views from the elite BH groupSimply preserve doing this.
What did you do to your funds – diid you rent a monetary planner and so forth.
Did you get any premium advantages at your financial institution / brokerage – any premium bank cards or personal consumer experiences ?Do not do that. For those who did not want a monetary advisor with $300,000, you do not want one with $3,000,000, or $30,000,000. You do not want “premium” or “personal consumer” advantages both. Often these are simply focused advertising and marketing to folks with cash to pay extra in charges.
Thanks, I don’t intend to rent one but, could also be a hourly charge primarily based Advisor for planning functions past a particular quantity.
I used to be asking about Personal consumer and so forth. to not leverage them for funding recommendation however for the perks / advantages provided like switch bonus and so forth.
Additionally if there are further advantages provided like Lounge entry with out annual charge – heard about Amex Platinum and so forth., I’m serious about making use of such perks in the event that they enhance the standard of life.
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Re: If you hit $3M by your 40s, what did you do after that
AlwaysLearningMore wrote: ↑Tue Sep 17, 2024 9:07 amsaagar_is_cool wrote: ↑Mon Sep 16, 2024 9:20 pm
I’ve seen in some threads that $3M is the brand new new $1 million as of late with inflation and so forth.For those who hit $3M (not web price however portfolio / earnings producing property and excludes fairness in residence the place you reside) by your 40s, what did you do after reaching the milestone
1. Did you simplify your life by paying others to do extra issues that you just didn’t wish to do like cleansing crew, yard work, snow removing and so forth.
2. What did you do to your funds – diid you rent a monetary planner and so forth.
3. Did you get any premium advantages at your financial institution / brokerage – any premium bank cards or personal consumer experiences ? card with lounge entry at airports atc. ?
4. Did you splurge on journey, air tickets like enterprise class and higher resort rooms and so forth.
5. Anything that you just wouldn’t do however began doing as a result of you’re a millionaire (3 millionaire as of late)
6. Every other experiences in the event you didn’t retire and continued to workMy goal retirement quantity was $3M with a paid off home for a very long time, however I spotted that I don’t wish to retire early.
I’m looking for motivation and in addition have a look at what I ought to do otherwise as soon as we get there primarily based on the experiences right here.
I don’t have the issue of “can’t spend after being in saver mode”, however wish to optimize as a lot as potential.
Have you ever thought-about initiating or rising Charitable giving?
Charitable giving is a part of the plan however I wish to immediately see the impression of the giving like sponsor schooling for teenagers in another country and so forth. by means of recognized channels fairly than some included org paying bloated salaries to Execs
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Re: If you hit $3M by your 40s, what did you do after that
That is my different concern that $3M received’t be sufficient for something apart from a easy way of life. I suppose I might want to transfer the goalpost as soon as we get there
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Re: If you hit $3M by your 40s, what did you do after that
Big Dog wrote: ↑Tue Sep 17, 2024 2:45 pmsaagar_is_cool wrote: ↑Mon Sep 16, 2024 9:20 pm
I’ve seen in some threads that $3M is the brand new new $1 million as of late with inflation and so forth.For those who hit $3M (not web price however portfolio / earnings producing property and excludes fairness in residence the place you reside) by your 40s, what did you do after reaching the milestone
1. Did you simplify your life by paying others to do extra issues that you just didn’t wish to do like cleansing crew, yard work, snow removing and so forth.
2. What did you do to your funds – diid you rent a monetary planner and so forth.
3. Did you get any premium advantages at your financial institution / brokerage – any premium bank cards or personal consumer experiences ? card with lounge entry at airports atc. ?
4. Did you splurge on journey, air tickets like enterprise class and higher resort rooms and so forth.
5. Anything that you just wouldn’t do however began doing as a result of you’re a millionaire (3 millionaire as of late)
6. Every other experiences in the event you didn’t retire and continued to workMy goal retirement quantity was $3M with a paid off home for a very long time, however I spotted that I don’t wish to retire early.
I’m looking for motivation and in addition have a look at what I ought to do otherwise as soon as we get there primarily based on the experiences right here.
I don’t have the issue of “can’t spend after being in saver mode”, however wish to optimize as a lot as potential.
Not one of the above, since I by no means tracked such milestones. Simply stored on truckin’. (and dealing and saving). My objective was by no means to retire ‘early’. A buy-and-hold and overlook it investor.
What do you intend to do with the accrued cash – inheritance to heirs, charitable causes ?
Re: If you hit $3M by your 40s, what did you do after that
Now that I am retired, we spend what we wish after we need. Bounce on a aircraft on the final minute journey. (Not unhealthy for a child born within the tasks.). Solely have a look at the Vanguard steadiness once I’m withdrawing funds to pay payments. Youngsters will cut up what’s left over after we’re gone.
Re: If you hit $3M by your 40s, what did you do after that
saagar_is_cool wrote: ↑Mon Sep 16, 2024 9:20 pm
I’ve seen in some threads that $3M is the brand new new $1 million as of late with inflation and so forth.For those who hit $3M (not web price however portfolio / earnings producing property and excludes fairness in residence the place you reside) by your 40s, what did you do after reaching the milestone
1. Did you simplify your life by paying others to do extra issues that you just didn’t wish to do like cleansing crew, yard work, snow removing and so forth.
2. What did you do to your funds – diid you rent a monetary planner and so forth.
3. Did you get any premium advantages at your financial institution / brokerage – any premium bank cards or personal consumer experiences ? card with lounge entry at airports atc. ?
4. Did you splurge on journey, air tickets like enterprise class and higher resort rooms and so forth.
5. Anything that you just wouldn’t do however began doing as a result of you’re a millionaire (3 millionaire as of late)
6. Every other experiences in the event you didn’t retire and continued to workMy goal retirement quantity was $3M with a paid off home for a very long time, however I spotted that I don’t wish to retire early.
I’m looking for motivation and in addition have a look at what I ought to do otherwise as soon as we get there primarily based on the experiences right here.
I don’t have the issue of “can’t spend after being in saver mode”, however wish to optimize as a lot as potential.
We truly did not do any of the above, nonetheless mow my very own lawns and alter my very own oil. After all we may pay for the outsource and higher journey facilities however determined to only stored working till lastly hitting a bigger quantity. Now DW has been retired for two+ years and I simply engineered my severance. As talked about within the early a part of the thread, the upper property/portfolio worth actually simply give us the flexibleness to do what we actually wish to do a lot earlier in life. In addition to, it hasn’t actually materially change our routines in any respect.
Re: If you hit $3M by your 40s, what did you do after that
We now primarily hit our quantity, between 6-7m in investable property. I‘m nonetheless working (early 50s) as our youngest remains to be in Excessive College however we get pleasure from issues like flying enterprise class on worldwide journeys, purchase issues after we want them with out ever excited about the worth and having fun with good holidays. It additionally takes away plenty of stress at work when you recognize you don‘t NEED this or a equally nicely paying job to maintain our way of life.
We undoubtedly hit our spending peak and don‘t want a much bigger home, 2nd residence, higher automobiles and so forth, so I don‘t see us altering something further sooner or later – apart from me giving up work and having extra time to journey.
