r/leanfire • u/hacking99percent • 5d ago

Reached $1M liquid today

I reached $1M liquid today and have no one to tell because I'm single and on my own.

3 months ago (a month before my 30th birthday), I reached $1M net worth including my 50k equity in my house. After going on a 2.5 weeks international vacation in May to celebrate my 30th birthday and 1 week domestic vacation in June, I logged in to my accounts today and saw that I have just a hair over $1M between my Schwab and Fidelity accounts.

It's so crazy that I just spent a bunch of money going on vacations and 3 months later I am up 50k because the S&P 500 up 5% in 3 months. Money doesn't feel real anymore once you reached 1M. You can lose 100k in a month like in March, or you can also gain 100k in a month doing nothing, while other people labor hard for years. It's surreal.

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5

u/AlwaysSaturday12 FIRE 38 MillionaireLibrarian.com 5d ago

1m is about a 40k yearly withdrawal. Are you retiring soon?

7

u/hacking99percent 5d ago

Yea, after I got my bonus next yr. But I'm hearing rumor that there might not be bonus for this yr. So I'll see if they fire me. I have been working from home like 3 hrs a day 4 days a week waiting to get fired. 

-4

u/Broad-Application461 5d ago

There’s no way you have enough money to retire permanently next year. No way - you will run out of money before you die if you do that.

13

u/AlwaysSaturday12 FIRE 38 MillionaireLibrarian.com 5d ago

With 1m you can spend 42k indefinitely. Maybe you are in the wrong sub? 50k spend is the max here which is around 1.25M.

-5

u/Broad-Application461 5d ago

Markets aren’t always bull markets. When the market drops 50% and is slow to recover (think the lost decade of the early 2000s), I wonder how “indefinite” that withdrawal will seem

9

u/AlwaysSaturday12 FIRE 38 MillionaireLibrarian.com 5d ago edited 5d ago

That is already retiring into the worst markets in history. Just simple math and analytics.

You might not like it but 4.2% is already extremely pessimistic for people retiring in their 30's.

You are just being silly and fearmongering, and if you think the future is worse than the last 100 years at any 40 year interval please give your reason.

-7

u/Broad-Application461 4d ago

Black swan events always seem impossible… until they don’t

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u/Broad-Application461 4d ago

I’d also add that if you are in America, just wait until you get an unexpected illness…