ArchietheDragon
Junior Associate
Joined: Jul 7, 2014 14:29:23 GMT -5
Posts: 6,353
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Post by ArchietheDragon on Jun 30, 2017 7:55:35 GMT -5
DW and I just hit a combined networth of $1million for the first time thanks to my company's stock contribution, the total of which is a quarter of our networth. I am lucky to have this job.
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Deleted
Joined: May 4, 2024 18:50:15 GMT -5
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Post by Deleted on Jun 30, 2017 8:17:55 GMT -5
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MJ2.0
Senior Associate
Joined: Jul 24, 2014 10:27:09 GMT -5
Posts: 10,972
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Post by MJ2.0 on Jun 30, 2017 8:23:15 GMT -5
hookers and blow party at Archie's!
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thyme4change
Community Leader
Joined: Dec 26, 2010 13:54:08 GMT -5
Posts: 40,412
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Post by thyme4change on Jun 30, 2017 11:10:41 GMT -5
Woo hoo. It is a great feeling. Welcome to the 10%.
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janee
Established Member
Joined: May 14, 2014 10:04:48 GMT -5
Posts: 344
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Post by janee on Jun 30, 2017 12:29:08 GMT -5
Congrats! You're doing great at such a young age!
Just remember to diversify out of the company stock when you can. Many of us oldies remember companies like Enron.... (you can google but the lesson is the company can go bankrupt and you lose).
The next $1 million comes much quicker!
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TheHaitian
Senior Associate
Joined: Jul 27, 2014 19:39:10 GMT -5
Posts: 10,144
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Post by TheHaitian on Jun 30, 2017 12:33:01 GMT -5
Congrats... look at you " millionaire".
How does it feel?
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Miss Tequila
Distinguished Associate
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Posts: 20,602
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Post by Miss Tequila on Jun 30, 2017 13:12:09 GMT -5
Now that HAS to cheer up Mrs. Archie, doesn't it??
Congrats!!!
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ArchietheDragon
Junior Associate
Joined: Jul 7, 2014 14:29:23 GMT -5
Posts: 6,353
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Post by ArchietheDragon on Jun 30, 2017 13:22:27 GMT -5
Congrats... look at you " millionaire". How does it feel? I would rather have less money and more hair.
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imawino
Junior Associate
Joined: Dec 17, 2010 22:58:16 GMT -5
Posts: 5,359
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Post by imawino on Jun 30, 2017 13:25:33 GMT -5
Rich bastard!!!
I mean....yay Archie!!
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Deleted
Joined: May 4, 2024 18:50:15 GMT -5
Posts: 0
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Post by Deleted on Jun 30, 2017 13:34:26 GMT -5
Congrats... look at you " millionaire". How does it feel? I would rather have less money and more hair. Get implants! You can afford it.
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ArchietheDragon
Junior Associate
Joined: Jul 7, 2014 14:29:23 GMT -5
Posts: 6,353
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Post by ArchietheDragon on Jun 30, 2017 13:35:50 GMT -5
I would rather have less money and more hair. Get implants! You can afford it. It IS a good look...
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Deleted
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Post by Deleted on Jun 30, 2017 13:40:28 GMT -5
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ArchietheDragon
Junior Associate
Joined: Jul 7, 2014 14:29:23 GMT -5
Posts: 6,353
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Post by ArchietheDragon on Jun 30, 2017 14:03:36 GMT -5
Congrats! You're doing great at such a young age!
Just remember to diversify out of the company stock when you can. Many of us oldies remember companies like Enron.... (you can google but the lesson is the company can go bankrupt and you lose).
The next $1 million comes much quicker! can't diversify out of the company stock for another 15 years, or if I leave the company. Which ever comes first. Until then, all I can do is do my best to make sure the company doesn't go out of business.
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yogiii
Junior Associate
Joined: Dec 20, 2010 19:38:00 GMT -5
Posts: 5,377
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Post by yogiii on Jun 30, 2017 15:32:21 GMT -5
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Ryan
Senior Member
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Posts: 2,202
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Post by Ryan on Jun 30, 2017 15:35:46 GMT -5
I don't know if you need to be that old to remember Enron....at least I hope not!
Archie, you should go out and buy another puppy to celebrate!
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whoisjohngalt
Junior Associate
Joined: Dec 18, 2010 14:12:07 GMT -5
Posts: 9,140
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Post by whoisjohngalt on Jun 30, 2017 17:47:23 GMT -5
Well, now you can finally pay back all that money you borrowed from your children.
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lynnerself
Senior Member
Joined: Jan 3, 2011 11:42:29 GMT -5
Posts: 4,166
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Post by lynnerself on Jun 30, 2017 17:50:32 GMT -5
We passed the million dollar milestone twice. Jan of 2008 and again in Jan of 2010.
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Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,053
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Post by Rukh O'Rorke on Jun 30, 2017 18:06:23 GMT -5
Congrats! You're doing great at such a young age!
Just remember to diversify out of the company stock when you can. Many of us oldies remember companies like Enron.... (you can google but the lesson is the company can go bankrupt and you lose).
The next $1 million comes much quicker! Lol, wait. .is Archie still young? Seems some years agoing by....
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Happy prose
Senior Member
Joined: Dec 20, 2010 12:55:24 GMT -5
Posts: 3,228
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Post by Happy prose on Jun 30, 2017 19:13:42 GMT -5
That's awesome! Congrats!
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Deleted
Joined: May 4, 2024 18:50:15 GMT -5
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Post by Deleted on Jun 30, 2017 23:03:48 GMT -5
Congrats! You're doing great at such a young age!
Just remember to diversify out of the company stock when you can. Many of us oldies remember companies like Enron.... (you can google but the lesson is the company can go bankrupt and you lose).
The next $1 million comes much quicker! Lol, wait. .is Archie still young? Seems some years agoing by.... Anyone under 40 is young to me.
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tcu2003
Senior Member
Joined: Dec 31, 2010 15:24:01 GMT -5
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Post by tcu2003 on Jun 30, 2017 23:16:00 GMT -5
Congrats, Archie!
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tskeeter
Junior Associate
Joined: Mar 20, 2011 19:37:45 GMT -5
Posts: 6,831
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Post by tskeeter on Jul 1, 2017 0:52:46 GMT -5
Congrats! Reaching that kind of milestone is a tribute to your tenacity. You don't get to $1 million without working at it.
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ArchietheDragon
Junior Associate
Joined: Jul 7, 2014 14:29:23 GMT -5
Posts: 6,353
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Post by ArchietheDragon on Jul 1, 2017 8:28:55 GMT -5
Lol, wait. .is Archie still young? Seems some years agoing by.... Anyone under 40 is young to me. And I still have 3weeks in that category!
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NoNamePerson
Distinguished Associate
Is There Anybody OUT There?
Joined: Dec 17, 2010 17:03:17 GMT -5
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Location: WITNESS PROTECTION
Member is Online
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Post by NoNamePerson on Jul 1, 2017 10:56:18 GMT -5
Lol, wait. .is Archie still young? Seems some years agoing by.... Anyone under 40 is young to me. Anyone under 60 is young to me.
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Mrs. Dinero
Well-Known Member
100% about truth & justice. Always trying to give mercy a chance.
Joined: Dec 28, 2010 17:09:17 GMT -5
Posts: 1,508
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Post by Mrs. Dinero on Jul 1, 2017 11:11:48 GMT -5
That's awesome! Congratulations!🎈🍾
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svwashout
Established Member
Joined: May 22, 2011 12:41:13 GMT -5
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Post by svwashout on Jul 2, 2017 10:14:30 GMT -5
Congrats! You're doing great at such a young age!
Just remember to diversify out of the company stock when you can. Many of us oldies remember companies like Enron.... (you can google but the lesson is the company can go bankrupt and you lose).
The next $1 million comes much quicker! can't diversify out of the company stock for another 15 years, or if I leave the company. Which ever comes first. Until then, all I can do is do my best to make sure the company doesn't go out of business. Congrats, well done, something to consider: depending upon the discount, at your concentration I would stop buying into your employee stock purchase plan and instead invest the proceeds into a widely diversified index fund. If your purchase price is currently anchored at say half the current market price, I'd let it run until the next reset, but if the shares have been rising steadily so you're only getting a few percent off, then I'd stop.
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MN-Investor
Well-Known Member
Joined: Dec 20, 2010 22:22:44 GMT -5
Posts: 1,938
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Post by MN-Investor on Jul 2, 2017 13:07:20 GMT -5
Good going! When you first start saving, all your portfolio growth is from payroll contributions. Very, very little is from portfolio growth. By $1M, you're having portfolio growth - dividends and stock appreciation - working for you too. That's exactly what you need to reach your goals.
A comment about employee stock - my DH and I are both now retired (he's 63, I'm 64) and we were heavily invested in the stock of our employers at one point. Our basic philosophy when it came to employee stock: Do we have enough invested outside employee stock so that we are track for retirement even if employee stock went to zero? At this point, it sounds like you have $750K outside of your employer stock in your portfolio. Is that enough, plus future savings and growth outside your employer stock, for you to retire when you want? If so, don't worry too much about owning employee stock.
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ArchietheDragon
Junior Associate
Joined: Jul 7, 2014 14:29:23 GMT -5
Posts: 6,353
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Milestone
Jul 2, 2017 14:47:56 GMT -5
via mobile
Post by ArchietheDragon on Jul 2, 2017 14:47:56 GMT -5
can't diversify out of the company stock for another 15 years, or if I leave the company. Which ever comes first. Until then, all I can do is do my best to make sure the company doesn't go out of business. Congrats, well done, something to consider: depending upon the discount, at your concentration I would stop buying into your employee stock purchase plan and instead invest the proceeds into a widely diversified index fund. If your purchase price is currently anchored at say half the current market price, I'd let it run until the next reset, but if the shares have been rising steadily so you're only getting a few percent off, then I'd stop. The good thing is that the stock is not something employees buy into. It is an employer contribution only.
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TheHaitian
Senior Associate
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Milestone
Jul 2, 2017 18:12:08 GMT -5
via mobile
Post by TheHaitian on Jul 2, 2017 18:12:08 GMT -5
DW and I just hit a combined networth of $1million for the first time thanks to my company's stock contribution, the total of which is a quarter of our networth. I am lucky to have this job. Can you provide a breakdown? Like stocks 250k Home 250k 401k (you) 250k Etc? Trying to see if it is a possibility for us to hit they million by 40 but unfortunately no company stocks
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Ryan
Senior Member
Joined: Jun 16, 2014 13:40:36 GMT -5
Posts: 2,202
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Post by Ryan on Jul 2, 2017 20:52:24 GMT -5
I just realized I'm probably just over $1M in net worth. Here's how my breakdown is:
$553K in retirement $108K in 529 $143K in home equity (purchase price minus mortgage) $150K in cash 15 years into state pension, value undetemined...$91K in contributions at least.
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