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Marking financial milestones

Posted on 7/24/25 at 12:52 pm
Posted by TorchtheFlyingTiger
1st coast
Member since Jan 2008
2886 posts
Posted on 7/24/25 at 12:52 pm
Any of you have a method to mark or celebrate financial milestones? I just hit another big # and realized again that we just move right on. I might mention to spouse and she is unfazed. Seems like we could leverage these moments better to inspire momentum, spark joy, and plan/dream about how we'll use it.

Once said to each other a vacation was to mark a big one but we both knew we'd have gone anyway.

Once read about a guy that kept corks from wine they celebrate with every $100k, champagne for each million or something like that maybe beer bottle cap for each $10k. Think he wrote a date on them and may have had them displayed somehow no one would have guessed the significance.
This post was edited on 7/24/25 at 1:00 pm
Posted by Rize
Spring Texas
Member since Sep 2011
18534 posts
Posted on 7/24/25 at 1:08 pm to
quote:

Any of you have a method to mark or celebrate financial milestones? I just hit another big # and realized again that we just move right on. I might mention to spouse and she is unfazed. Seems like we could leverage these moments better to inspire momentum, spark joy, and plan/dream about how we'll use it. Once said to each other a vacation was to mark a big one but we both knew we'd have gone anyway. Once read about a guy that kept corks from wine they celebrate with every $100k, champagne for each million or something like that maybe beer bottle cap for each $10k. Think he wrote a date on them and may have had them displayed somehow no one would have guessed the significance.


I don’t do anything. Hell I can’t even pinpoint when I hit 100k because I never looked at that stuff until my mid 30’s.
Posted by RoyalWe
Prairieville, LA
Member since Mar 2018
4219 posts
Posted on 7/24/25 at 1:21 pm to
We never did, but I support the idea. We are only now starting to realize some of the rewards of our saving.
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82004 posts
Posted on 7/24/25 at 1:23 pm to
No, never even thought about spending money to celebrate a financial milestone. Seems counterproductive but I'm uber conservative financially at heart so I may be in the minority.
This post was edited on 7/24/25 at 1:24 pm
Posted by Hawgleg
Member since Jan 2022
501 posts
Posted on 7/24/25 at 1:31 pm to
When I opened an investment account i viewed it as somehting I dont need now. If I put money in I planned on not needing it. I havent taken any out at all. When it hits a mill Im seriously considering retiring early.

Im debt free and can live 25 yrs off that easily with a small growth.
? is will I have the balls to do it.
Posted by I Love Bama
Alabama
Member since Nov 2007
38420 posts
Posted on 7/24/25 at 1:53 pm to
Pre covid I was obsessed with milestones. After I saw how they butchered the dollar I feel nothing when I hit one.
Posted by tigerbacon
Arkansas
Member since Aug 2010
4434 posts
Posted on 7/24/25 at 2:00 pm to
I get happy inside for a minute and then set my sights on my next one. First one was a net worth of 500k second one was a net worth of 1 million. My current one is a net worth of 2 mil. Never thought imagine I would hit 1 million in my life when I was 20. 500k seemed unrealistic too. My retirement benchmark is 15 million net worth. I never plan on moving so my house will increase my net worth minimal compared to my 401k and investment accounts. It is amazing how easy 500k was once I hit 100k and how easy 1 million was once I hit 500k. They say the toughest benchmark is 100k and it snowballs but you don’t fully understand it until you see it happening
Posted by ItzMe1972
Member since Dec 2013
12110 posts
Posted on 7/24/25 at 2:02 pm to
After I saw how they butchered the dollar I feel nothing when I hit one.

---
They sure whacked the end off the dollar.
Posted by Artificial Ignorance
Member since Feb 2025
1424 posts
Posted on 7/24/25 at 2:32 pm to
The difference between $1,000,000 and $999,999 is $1.

Both are just numbers. Keep moving forward.

Well done, though!
This post was edited on 7/24/25 at 2:35 pm
Posted by Kingpenm3
Xanadu
Member since Aug 2011
9734 posts
Posted on 7/24/25 at 3:41 pm to
quote:

Any of you have a method to mark or celebrate financial milestones? I just hit another big # and realized again that we just move right on. I might mention to spouse and she is unfazed. Seems like we could leverage these moments better to inspire momentum, spark joy, and plan/dream about how we'll use it.



I've never done this, but plan to someday. But I was listening to some podcast about watches and was expecting for the guest to just start listing a bunch of the "it" watches that he had but instead he went through his collection and had a story about every single watch and what part of his life it was celebrating. Most memorable were the watches from his kids weddings (which I believe he bought them the matching watch).

Just added so much meaning to a moment with an object. Pretty cool.
Posted by auwaterfowler
Alabama
Member since Jan 2020
2863 posts
Posted on 7/24/25 at 3:53 pm to
We have some friends that allow themselves $1000 to spend on “extra” things every time they save $10,000. They have done this for 25 or so years. They are a little too “all debt is bad debt” for my tastes, but I respect their plan and their discipline.
Posted by Artificial Ignorance
Member since Feb 2025
1424 posts
Posted on 7/24/25 at 4:35 pm to
quote:

allow themselves $1000 to spend on “extra” things every time they save $10,000.


Talk about an expense ratio!

Money psychology…whatever works for them.
Posted by TorchtheFlyingTiger
1st coast
Member since Jan 2008
2886 posts
Posted on 7/24/25 at 4:53 pm to
Immediately spending 10% is too extreme for me. Just thinking some way to pause and mark the occasional success along the long road would have been a nice thing. Somehow we've stayed the course but seems like we should have deliberately enjoyed the occasion a few times.
I guess it's nice to know we're in good company as others here also just plod along. Also feels a bit sad that there is absolutely no one I can share this progress with but my wife. Plus, can't really tap into it much at moment because it's mostly capital gains, traditional retirement, and Roth (last thing we will touch). I "need" to start using the brokerage to pay tax on Roth conversions but little room to do so before triggering 15% LTCG and 22% income tax rate. Probably need to pay someone to help optimize withdrawal/conversion tax strategy.
Posted by Rize
Spring Texas
Member since Sep 2011
18534 posts
Posted on 7/24/25 at 4:58 pm to
quote:

I get happy inside for a minute and then set my sights on my next one. First one was a net worth of 500k second one was a net worth of 1 million. My current one is a net worth of 2 mil. Never thought imagine I would hit 1 million in my life when I was 20. 500k seemed unrealistic too. My retirement benchmark is 15 million net worth. I never plan on moving so my house will increase my net worth minimal compared to my 401k and investment accounts. It is amazing how easy 500k was once I hit 100k and how easy 1 million was once I hit 500k. They say the toughest benchmark is 100k and it snowballs but you don’t fully understand it until you see it happening


No way I’m sticking around to hit 15 mil. I’ll be to damn old or dead
Posted by grsharky
Member since Dec 2019
267 posts
Posted on 7/24/25 at 5:51 pm to
We don’t celebrate the milestones, they’re just numbers as said above. With that being said, we’re closing in on a million dollars net worth, it’s not the end or the goal, but I will savor that for a minute when it happens.
Posted by tigerbacon
Arkansas
Member since Aug 2010
4434 posts
Posted on 7/24/25 at 5:56 pm to
Well I also love what I do so I don’t want to ever retire
Posted by GCTigahs
Member since Oct 2014
2425 posts
Posted on 7/24/25 at 6:45 pm to
We don’t celebrate any milestones but I have a spreadsheet that goes back to the crash of ‘08 when I was so disgusted with the situation, I wanted to quit contributing. Thankfully my wife of only 3yrs at the time talked me off the ledge.

I’ve put both of our 401k balances in the spreadsheet every yr on Jan 1 and July 1 since 2008. I have a section where I list the date when we each hit a milestone. On big milestones, we both list a date when we think we’ll hit it and the person closest to it when we hit it gets their choice of which nice restaurant we go to.

The spreadsheet has been a very motivating factor for me to see things grow. Every raise I got, I’d increase my contribution % until 2014 when I started to max. Made 50yrs old last yr and barely missed the catch up max. My enthusiasm even influenced the wife to max hers since 2017. It’s been fun watching it grow. 4 more yrs until my projected end to being a corporate hoe.
Posted by mule74
Watersound Beach
Member since Nov 2004
12403 posts
Posted on 7/24/25 at 6:50 pm to
I am along way off but I have a pretty nice watch in mind when we hit $10mm net worth,
Posted by Fat Bastard
2024 NFL pick'em champion
Member since Mar 2009
87276 posts
Posted on 7/24/25 at 7:29 pm to
hell no.

Posted by makersmark1
earth
Member since Oct 2011
20038 posts
Posted on 7/24/25 at 9:17 pm to
quote:

spreadsheet



Many brokerages will let you put all your accounts where you can see balances.

I know Schwab and Fidelity offer this.

I’m retired, but I probably won’t take RMDs for awhile.
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