Weekly FatFIRE Update (4/29/23)
Weekly summary of 8 net worth stories / progressions | Does boglehead investing work with $10M+ to invest? | 3 year update post FatFIRE |
Weekly Net Worth Updates / Stories:
This week we have 8 different net worth progressions / updates / stories. First is 3 examples of saving that first $100K in your mid to late 20s being the springboard to becoming a millionaire in your 30s. Despite a down market, we have have an update from someone who just turned 49 and provides his fourth annual update since retiring at 45. Our third update is from a nurse practitioner in her early 40s who sold 2 startup businesses and is now a stay at home mom with her kids.
20s/30s:
3 examples of saving your first 100K in your 20s an become a millionaire in your 30s…
$1,400,000 [#122-BO] ; $1,800,000 [#123-BO] ; $1,850,000 [#124-BO]
40s:
$778,000 [#128-BO] - midwest couple with 2 kids (wife is stay at home mom)
$2,000,000 [#125-R] - 4 annual updates after reaching financial independence and retiring early at age 45
$4,700,000 [#129-BO] - Philadelphia couple w/ 3 kids. Fixed income buyside research. 70% savings rate since age 30. Virtually no lifestyle inflation (age 41)
$5,600,000 [#127-MU] - Nicole, a nurse practitioner (early 40s) has already sold 2 side businesses. Now a stay at home mom w/ her kids.
50s/60s:
$6,000,000 [#126-ESI] - He lived on the east coast, the midwest and now in the south, this 50 year old provides his 5 recommendations to achieve financial success.
NWS - NetWorthShare | MU - Millionaires Unveiled | PoF - Physician on FIRE | ESI - ESI Money |
BO - Bogleheads.org | R - Reddit Profiles | TW - Twitter Profiles | BI - Business Insider
The FatFIRE subreddit (r/FatFIRE)
The FatFIRE subreddit is a community of individuals who are interested in achieving financial independence and retiring early with a high level of wealth. The subreddit covers a wide range of topics related to personal finance, investing, entrepreneurship, and lifestyle design.
This week we focused on boglehead investing which is a style of passive investing that emphasizes simplicity, low costs, and a long-term investment horizon. It is based on the principles and teachings of John C. Bogle, the founder of Vanguard Group, who advocated for low-cost index funds as a way for individual investors to achieve market returns over the long term. Boglehead investing is characterized by a focus on low-cost, broadly diversified index funds, a buy-and-hold strategy, and a disciplined approach to asset allocation. It is popular among individual investors who seek to minimize fees and maximize returns over the long term. In r/FatFIRE, a user with $10M of investable assets asked the Viability of being a boglehead as a HNW. Numerous examples were provided of success at $13M, $20M+ and still following this simple low cost way of managing money without an advisor. At this level, its $100,000 to $200,000 of annual savings with same or better results than using an advisor.
Also, it’s fun to see life after FatFIRE, this week there is an update from a 39 year old that early retired in 2000 (at the age of 36). He sold his condo in VHCOL and now lives in a small house (no mortgage). Net worth is around $6 million. See more details in fatFIRE 3 year update + review.
Ten Wilsons launched 60+ days ago…
We have been profiling the net worth progression of people in their 20s, 30s, 40s as they become millionaires and multi-millionaires (129 profiles so far!). Please provide feedback/comments on what information or segments you like most and what you would like to see more of. Thanks! tw
