Jaguar
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Fear does not stop death. It stops life.
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Post by Jaguar on Jul 2, 2017 20:57:57 GMT -5
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ArchietheDragon
Junior Associate
Joined: Jul 7, 2014 14:29:23 GMT -5
Posts: 6,365
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Post by ArchietheDragon on Jul 3, 2017 5:52:36 GMT -5
Dk Utah W 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 My 401k has 300k DW 401k has 50k My ira has 150k DW ira has 100k Home equity is 90k Cash, including my kids cash and my HSA is 60k Stocks are 60k We have 20k of student loans So without the company stock we still would have a few years to go. But keep plowing money into your retirement account and you can get there
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SVT
Well-Known Member
Joined: Dec 20, 2010 15:39:33 GMT -5
Posts: 1,491
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Post by SVT on Jul 3, 2017 9:50:01 GMT -5
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 My 401k has 300k DW 401k has 50k My ira has 150k DW ira has 100k Home equity is 90k Cash, including my kids cash and my HSA is 60k Stocks are 60k We have 20k of student loans So without the company stock we still would have a few years to go. But keep plowing money into your retirement account and you can get there +1 TheHaitian, you know the math. Just keep plowing money away and invest in a smart way and give it time. In the beginning, the more money you put away, the faster it will be to get there. So put away as much as possible, while striking a good balance for spending now. That balance will be different for everyone. For some of us, that balance is saving 75% of gross income. Others, maybe it's 20%. Of course, the more you make, the easier it is, too.
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svwashout
Established Member
Joined: May 22, 2011 12:41:13 GMT -5
Posts: 378
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Post by svwashout on Jul 3, 2017 15:34:55 GMT -5
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 My 401k has 300k DW 401k has 50k My ira has 150k DW ira has 100k Home equity is 90k Cash, including my kids cash and my HSA is 60k Stocks are 60k We have 20k of student loans So without the company stock we still would have a few years to go. But keep plowing money into your retirement account and you can get there Sweet deal, where I work those are called "restricted stock units" and we get some of those. At my level shares we get are taxed same year as earned income. If you receive them as deferred comp then I guess the tax hit comes when you leave, though maybe treated as cap gains? Our ESPP is a good deal at the moment. Share price tanked last year and bottomed during my reset so I'm getting them half price now. Employer stock is a much smaller fraction of my net worth so I'm maxing this out. With your mix you probably want to tilt the names in your retirement accounts away from stuff that correlates strongly with your company stock, especially if more grants are on the horizon. TH, here are links to some sample breakdowns-- www.freemoneyfinance.com/millionaires/Archie's numbers seem pretty close to Interviews #16 and 17 (both late December 2013 posts); the big slice in each of these is retirement accounts, so I think his advice is the way to go.
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phil5185
Junior Associate
Joined: Dec 26, 2010 15:45:49 GMT -5
Posts: 6,409
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Post by phil5185 on Jul 3, 2017 18:52:04 GMT -5
IRA (bonds) $964k Taxable & Roths (stocks) $1,447k House, cars, cash $425k Car loan ($36k)
A couple of the 'millionaire" interviews mentioned 'risk", IMO risk analysis and risk management are key factors. WE took risks by spending our salaries on rental houses, then leveraging the rental houses to the max and investing the leveraged equity in stocks. And we avoided the Big Two - vehicle depreciation & mcmansions. We buy new cars, drive them about 200,000 miles. And live in a modest 4 bdrm house (that we built in 1975) on an acre of horse property.
Looking back at an old NW from when I retired almost 20 yrs ago, our NW has grown by about $1.6m. I'm a little surprised by that, I thought we burned thru more that, what with trips to Europe, Yellowstone, annual trips to the Canyon, ice skating trips to Colo, 5 trips to Alaska, plus 7 years of RMDs, a couple remodel projects, etc.
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skubikky
Senior Member
Joined: Dec 20, 2010 7:37:12 GMT -5
Posts: 3,044
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Post by skubikky on Jul 5, 2017 7:11:49 GMT -5
Phil....I have to ask....what does 1 acre of "horse property" look like? A small barn? Probably no need for a run-in. How many horses?
Where do you put the manure? I'm guessing there is space around you where you trail ride?
Do you and your wife ride often?
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phil5185
Junior Associate
Joined: Dec 26, 2010 15:45:49 GMT -5
Posts: 6,409
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Post by phil5185 on Jul 5, 2017 10:58:59 GMT -5
A rectangular lot, 155 feet wide by 330 long. (About 1.2 acre). The front 155 X 120 is house & yard. The back 155 X 210 is pasture (bermuda grass). There are 4 covered corrals in the pasture. We have anywhere from 1 to 4 horses/ponies. And sometimes 2 or 3 steers.
Manure - it's still out there, lol. We have flood irrigation at 2-week intervals, the water turns brown, then soaks down in about 12 hours - excellent source of fertilizer for the grass. Sometimes, when we have 3 horses and a couple steers, I go out with the riding mower just before irrigation, clip the grass and mulch/scatter the horse droppings - I also have a drag that I can hitch to the tractor and break up up the clods and expose them to the sun.
Trails - Yes, there is a bridle path out of our neighborhood that goes past a hay-farm and connects to miles of irrigation canal trails. (Also good for bicycles and roller blades.) And we can also load up and haul two horses to the mountains - in the Phoenix area, summer riding either happens at 5:30 AM or 100 miles north where its 20 degrees cooler.
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Deleted
Joined: May 18, 2024 4:59:23 GMT -5
Posts: 0
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Post by Deleted on Jul 5, 2017 11:22:24 GMT -5
I've seen places like that, but I seriously cannot imagine that many large animals on one acre either. How is there any grass to mow at all? I have one horse on a 2 acre pasture just during the day (stalled at night) and that just sustains itself with periodic mowing. Once I get 2 on there I have to supplement with hay during the day. The pony and two goats are in a smaller pen and it's just dirt. My aunt moved to Tempe for a few years and boarded her horse at a place like that. Now she's back in MN and her barn with the indoor arena is bigger than 155 X 210.
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skubikky
Senior Member
Joined: Dec 20, 2010 7:37:12 GMT -5
Posts: 3,044
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Post by skubikky on Jul 5, 2017 11:44:35 GMT -5
A rectangular lot, 155 feet wide by 330 long. (About 1.2 acre). The front 155 X 120 is house & yard. The back 155 X 210 is pasture (bermuda grass). There are 4 covered corrals in the pasture. We have anywhere from 1 to 4 horses/ponies. And sometimes 2 or 3 steers. Manure - it's still out there, lol. We have flood irrigation at 2-week intervals, the water turns brown, then soaks down in about 12 hours - excellent source of fertilizer for the grass. Sometimes, when we have 3 horses and a couple steers, I go out with the riding mower just before irrigation, clip the grass and mulch/scatter the horse droppings - I also have a drag that I can hitch to the tractor and break up up the clods and expose them to the sun. Trails - Yes, there is a bridle path out of our neighborhood that goes past a hay-farm and connects to miles of irrigation canal trails. (Also good for bicycles and roller blades.) And we can also load up and haul two horses to the mountains - in the Phoenix area, summer riding either happens at 5:30 AM or 100 miles north where its 20 degrees cooler. Where do you get your hay? It sounds a bit crowded but obviously you make it work. Having a bridle path right there is fabulous. Got it about riding at 5 AM or far away. Rode my mare Monday and she came almost unglued due to the flies et al. Early morning seems best.
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phil5185
Junior Associate
Joined: Dec 26, 2010 15:45:49 GMT -5
Posts: 6,409
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Post by phil5185 on Jul 6, 2017 11:28:31 GMT -5
Bermuda grass, bi-weekly flood irrigation, 100 degree weather. An acre produces about 6 tons of grass. I can adjust the production by adding/withholding Nitrogen. With one 1100 pound horse, I have to mow about half of the pasture.When we have two horses it comes out about even, With more than tow animals I have to spread a few 100 pounds of Nitrogen about every two months.
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jd2005
Established Member
Joined: Mar 15, 2011 14:16:37 GMT -5
Posts: 411
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Post by jd2005 on Jul 19, 2017 8:52:28 GMT -5
Congrats Archie! We are projected to top the $500k networth this month (a few months short of my 40th). Look forward to being able to post the $1mm net worth message.
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Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,086
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Post by Rukh O'Rorke on Jul 19, 2017 12:34:02 GMT -5
IRA (bonds) $964k Taxable & Roths (stocks) $1,447k House, cars, cash $425k Car loan ($36k) A couple of the 'millionaire" interviews mentioned 'risk", IMO risk analysis and risk management are key factors. WE took risks by spending our salaries on rental houses, then leveraging the rental houses to the max and investing the leveraged equity in stocks. And we avoided the Big Two - vehicle depreciation & mcmansions. We buy new cars, drive them about 200,000 miles. And live in a modest 4 bdrm house (that we built in 1975) on an acre of horse property. Looking back at an old NW from when I retired almost 20 yrs ago, our NW has grown by about $1.6m. I'm a little surprised by that, I thought we burned thru more that, what with trips to Europe, Yellowstone, annual trips to the Canyon, ice skating trips to Colo, 5 trips to Alaska, plus 7 years of RMDs, a couple remodel projects, etc. That the real dream right there.
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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 Jul 23, 2017 13:05:43 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. Today Archie turns 40 and he is worth $1 Million Dollars!!! Happy birthday OLD MAN!!!
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GRG a/k/a goldenrulegirl
Senior Associate
"How you win matters." Ender, Ender's Game
Joined: Jan 2, 2011 13:33:09 GMT -5
Posts: 11,291
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Post by GRG a/k/a goldenrulegirl on Jul 23, 2017 19:45:15 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. Today Archie turns 40 and he is worth $1 Million Dollars!!! Happy birthday OLD MAN!!! And, how are you, "Daddio", and your lovely wife and adorable little girl?
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