DicastParticipantStatus: PhysicianPosts: 412Joined: 01/09/2016
Buried somewhere on this forum I said I’d announce when my family crossed $1 million net worth. At the time I figured it would be an indicator for the market to collapse. So here you have it! We crossed the line sometime over the last month. You should move to cash and gold now!
I don’t post as often as I used to but for the new folks. My wife and I are both 36 yo physicians. We hit zero net worth late 2015. Income has been great 450-600k combined for the last 5 years. The bulk of our net worth is in retirement accounts as we can now save about 120k a year in our plans. House appreciation has been minimal but we aren’t in a HCOL area. Home equity is ~160k of our net worth.
Our next target will be $2.5 million. We figure that is the point at which we could support our current lifestyle pretty easily without working. After that I’m not even sure what the goal will be. As for now we’re relocating, taking jobs closer to family. I’m even going to get a raise.
I just want to give a big thanks to WCI and everyone on this forum!
Get outside of your bubble.June 19, 2019 at 12:04 pm MST #223415Liked by PhotonsRGR8, danesgod, ddswifey, Craigy, EndoRobert, Antares, mapplebum, eyecandy, ajm184, Lordosis, wa2106, CordMcNally, Faithful Steward, Anne, FIREshrink, wideopenspaces, Peds, HikingDO, ENT Doc, and 14 othersAntares, mapplebum, eyecandy, ajm184, Lordosis, wa2106, CordMcNally, Faithful Steward, Anne, FIREshrink, wideopenspaces, Peds, HikingDO, ENT DocIntensiveCareBearSpectatorStatus: PhysicianPosts: 235Joined: 12/22/2018
Cookies are in aisle 13, left hand side.
"Hmm, that sounds risky." - motto of the middle classDicastParticipantStatus: PhysicianPosts: 412Joined: 01/09/2016
Cookies are in aisle 13, left hand side.Click to expand…
Silly Bear, I get my cookies for free from the Dr’s Lounge.
Get outside of your bubble.wideopenspacesParticipantStatus: PhysicianPosts: 1138Joined: 01/12/2016
Strong work! It’s important to stop and celebrate these milestones. I know how much I’m looking forward to hitting this one and sometimes I get impatient and feel like it’s never going to happen. So it’s encouraging to see it for other people. Keep up the savings rate and good luck with the new job and location!PedsModeratorStatus: PhysicianPosts: 4440Joined: 01/08/2016
At <1/3 the income.....we'll get there eventually! Congrats.
I will be moving to gold tomorrow 😂Faithful StewardParticipantStatus: Financial Advisor, Small Business OwnerPosts: 517Joined: 06/12/2017
Congratulations on your milestone!
Michael Peterson, CFP® | Faithful Steward Wealth Advisors
https://ProsperousPhysician.com | (717) 496-0900June 19, 2019 at 3:32 pm MST #223461CordMcNallyParticipantStatus: PhysicianPosts: 2846Joined: 01/03/2017
That’s no easy feat. Onward and upward!
“But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
― Benjamin Graham, The Intelligent InvestorJune 19, 2019 at 3:49 pm MST #223464TimParticipantStatus: AccountantPosts: 3067Joined: 09/18/2018
Rinse and repeat!
With the Imminent Market Collapse. down it goes again.
Watch it carefully, sometimes you recover by 11am but drops like a rock in the afternoon. Cheer the S&P but don’t get dizzy. Eventually it will close again above the magic number. Maybe drop. Keep on pushing the contributions. Glad to see you survived.
Congratulations. Sure hope you don’t hit one of those 40% loss thingys. Please tell me when to jump back in.
Thanks for the heads up.jfoxcpacfpModeratorStatus: Financial Advisor, Accountant, Small Business OwnerPosts: 8133Joined: 01/09/2016
We crossed the line sometime over the last month. You should move to cash and gold now!Click to expand…
Appreciate that – you have made my life so much easier!!!
Glad you posted – so cool to get updates from the “originals”! Just realized you and I became members of the forum on the same day. That is surely some kind of contrarian indicator. Please lmk what you think (on the q.t., of course) as this info could be worth a fortune 🤫.LordosisParticipantStatus: PhysicianPosts: 1853Joined: 02/11/2019
For your sake I hope the collapse happens now rather then when you make the 2.5M.
Great work on building your nest egg. It is nice to hear success stories.
“Never let your sense of morals prevent you from doing what is right.”OrthodocParticipantStatus: PhysicianPosts: 15Joined: 01/27/2016
Congratulations. I think more of should share our goals and when we hit those milestones. A good way to build and keep motivation.LordosisParticipantStatus: PhysicianPosts: 1853Joined: 02/11/2019
Someone should start the official 7 digit net worth thread!
It can be another place we argue how to calculate net worth 😛
“Never let your sense of morals prevent you from doing what is right.”TimParticipantStatus: AccountantPosts: 3067Joined: 09/18/2018
Physicians are welcome to discuss accounting definitions in a circular fashion on other forums as well.CraigyParticipantStatus: SpousePosts: 2058Joined: 09/16/2016
Physicians are welcome to discuss accounting definitions in a circular fashion on other forums as well.Click to expand…
LEVEL 1 WCI FORUM MEMBER.