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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Congrats OP! We're at about $800K (early 30s), but I've been amazed at how fast it speeds up the more you get. Obviously I knew it intellectually, but the compounding power and getting money to make you money is REAL! Start early young people! [/quote]

[b]Like I have posted before it took 13 years of diligent savings to get to the first million, but only 6 more years to reach  the second million. Only 4 more years to reach the third million and then 2.5 years to $4 million.  A year later and we are at $4.6 million.  Not bad for two wage slaves in our early 50s.[/quote][/b]

[b]How?[/b] Almost 40 here. DH and I are at about $1.3M which includes real estate equity.  [/quote]

Saving at least 30% of our net income (after pretax retirement contributions, which were always the max allowed) and investing in index funds.[/quote]

Ouch. Did you actively have a target number to reach? We max our retirement and try to save what we can, but I'm wondering if we should have more concrete goals ($2M by 2022, etc). [/quote]

No we don't and never did.  We are lucky in many ways because our job losses have been short term, we never wanted to "trade up" so we've been in the same house for 17 years and our cars are model years 2009 and 2010, so I am not underestimating the role timing and luck have played in our success. Not panicking and cashing out during the market low in 2008 also helped.

If you are asking me if you should have concrete goals, I say absolutely yes.  Failing to plan is planning to fail.[/quote]

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