Menu

Imminent Market Collapse Indicator (Milestone met)

Home General/Welcome Imminent Market Collapse Indicator (Milestone met)

  • Avatar Dicast 
    Participant
    Status: Physician
    Posts: 412
    Joined: 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.

    IntensiveCareBear IntensiveCareBear 
    Spectator
    Status: Physician
    Posts: 235
    Joined: 12/22/2018

    Cookies are in aisle 13, left hand side.

    "Hmm, that sounds risky." - motto of the middle class

    #223416 Reply
    Avatar Dicast 
    Participant
    Status: Physician
    Posts: 412
    Joined: 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.

    #223446 Reply
    Avatar wideopenspaces 
    Participant
    Status: Physician
    Posts: 1138
    Joined: 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!

    #223447 Reply
    Liked by Zaphod, Dicast
    Avatar Peds 
    Moderator
    Status: Physician
    Posts: 4440
    Joined: 01/08/2016

    At <1/3 the income.....we'll get there eventually! Congrats.
    I will be moving to gold tomorrow 😂

    #223451 Reply
    Faithful Steward Faithful Steward 
    Participant
    Status: Financial Advisor, Small Business Owner
    Posts: 517
    Joined: 06/12/2017

    Congratulations on your milestone!

    Michael Peterson, CFP® | Faithful Steward Wealth Advisors
    https://ProsperousPhysician.com | (717) 496-0900

    #223461 Reply
    CordMcNally CordMcNally 
    Participant
    Status: Physician
    Posts: 2846
    Joined: 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 Investor

    #223464 Reply
    Avatar Tim 
    Participant
    Status: Accountant
    Posts: 3067
    Joined: 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.

    #223466 Reply
    Liked by Craigy, Dicast
    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
    Posts: 8133
    Joined: 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 🤫.

    Johanna Fox Turner, CPA, CFP, Fox Wealth Mgmt & Fox CPAs ~
    http://www.fox-cpas.com/for-doctors-only ~ [email protected]

    #223471 Reply
    Liked by Dicast
    Lordosis Lordosis 
    Participant
    Status: Physician
    Posts: 1853
    Joined: 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.”

    #223484 Reply
    Avatar Orthodoc 
    Participant
    Status: Physician
    Posts: 15
    Joined: 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.

    #223508 Reply
    Liked by ddswifey, Dicast
    Lordosis Lordosis 
    Participant
    Status: Physician
    Posts: 1853
    Joined: 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.”

    #223621 Reply
    Avatar Tim 
    Participant
    Status: Accountant
    Posts: 3067
    Joined: 09/18/2018

    Physicians are welcome to discuss accounting definitions in a circular fashion on other forums as well.

    The 5 Best Accounting Discussion Forums Online

    #223629 Reply
    Liked by Dicast, Craigy
    Craigy Craigy 
    Participant
    Status: Spouse
    Posts: 2058
    Joined: 09/16/2016

    Physicians are welcome to discuss accounting definitions in a circular fashion on other forums as well.

    Click to expand…

    Gross.  😆

    LEVEL 1 WCI FORUM MEMBER.

    #223638 Reply
    Liked by Dicast, Tim
    ddswifey ddswifey 
    Participant
    Status: Spouse
    Posts: 74
    Joined: 04/17/2019

    Congrats on your milestone to you and your wife !!!     I agree its important to celebrate others’ success!

    I'm here to learn

    #223671 Reply
    Liked by Tim

Reply To: Imminent Market Collapse Indicator (Milestone met)

In case of a glitch or error, please save your text elsewhere, clear browser cache, close browser, open browser and refresh the page.

Notifications Mark all as read  |  Clear