My main goal* was to build an investment and cash portfolio of $1,120,000* in 1500 days**, starting from 1/1/2013 and ending in February of 2017. I made my goal last year and my 1500 Days are over, but in the interest of openness, I’ll continue to share my numbers.
Root of Competitiveness
Justin from Root of Good recently pointed out he and I are in a death match to reach the $2,000,000 mark:
Man, you edged me out on the net worth front by a tiny fraction of a million. I bet we’ll both cross the $2,000,000 threshold in the same month though! Will it be in a few months or will it be in several years after the next crash? Don’t you wish we could know that now!
What? He didn’t utter the phrase death match? And he inferred nothing about competition? Of course not. I made that all up because I am competitive. At the gym, this ridiculous thought has gone through my head:
And if I’m honest, this one too:
But I digress…
Justin has pulled ahead of me big-time this month ($1,936,000 versus $1,917,000). I’ve got some ground to make up, but October is earnings season and also time for syndication payouts.
Really though, I’d like nothing better than for Justin and me to cross the finish line together. Here is how it goes down in my mind’s eye:
Justin and I are running to the finish line together in slow motion. We’re both wearing running outfits like Richard Simmons except without the pink or sparkles. Chariots of Fire is playing. We are both a sweaty mess.
The crowd goes wild as we break the tape together. Justin and I turn to look at each other with big smiles. We high-five like drunken frat-boys before we embrace in a hug. Again, don’t think of Richard Simmons. It’s a manly hug.
The scene fades away…
Try to purge that imagery from your head.
On with the Performance Update.
Performance Update: September
September was another month of progress. Our portfolio started at $1,450,133 and ended at $1,462,077 for a gain of $11,994:
2017 (as of 9/1/2017)
- Days elapsed: 272
- 2017 gains: $204,949 (including 401(k) contributions**** of $44,000 and car purchase of -$45,000)
Since the start (1/1/2013)
- Days elapsed: 1733
- Portfolio gains since 1/1/2013: $876,034
- Needed to quit work ($1,120,000 in investments): Mission accomplished!
- Net worth: $1,917,077 which includes:
I’m on the home stretch of my weight loss battle with Mr. WoW. I still have a lot of ground to make up, but I’m not giving up:
The good news is that I’m making progress. The belly is melting away:
And if I don’t make my goal, I’m hiring Justin Simmons to be my personal trainer:
Just can’t get enough?
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*My goal wasn’t to have $1,120,000 at the end of 1500 days, but at any time before the day count was up. Why? It all goes back to the 4% Rule. Remember that our little friend, Mr. 4%, is nothing more than the most conservative safe withdrawal rate. So, if I were to quit my job now, I could spend about $48,000 in my first year of retirement. I’d stick very close to that number too because market valuations are ambitious. Let’s say that Mr. Market caught a cold tomorrow and my portfolio dropped down to $800,000. No big deal. This would mean I’d be safer stretching my spending a little north of 4%.
**My original goal was $1,000,000 and no debt, I later raised the goal by $120,000 to $1,120,000 because I will have debt in the form of a mortgage and I firmly believe in not paying it off. My compromise is to have enough money put away to cover the mortgage at the time of retirement. So, to retire today, I would need about $1,120,000.
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****My 401(k) contributions include my own, Mrs. 15oo’s, and the contributions from my corporation. Self-employment with a solo 401(k) is a very powerful savings tool. I should have done this years ago.
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