Frugal Trader's journey to financial freedom

[CanadianCapitalist]

We all know the secrets to health and wealth. The problem is having the discipline to put what we know into practice. Maybe it will help when we hear stories of others who have made it or well on their way. Frugal Trader shared with his how he got started on his family's journey to financial freedom:

How did we Get Here?

Net Worth Updates

[ethos1]

We all know the secrets to health and wealth.

I wish that I did

FT, I've follwed the milliondollarjorney thread and was wondering if you've actually made it yet to the million net worth. I shouldn't really say net worth but more the $1-million dollars in cash that you could call at anytime?

Has the journey been easier or more difficult than you had first imagined given the state of the markets, and has the journey slowed down any for you?

At what point do you think that you would have the million bucks, no debt (includes family home and cars + any toys all paid for)?

[FrugalTrader]

I wish that I did

FT, I've follwed the milliondollarjorney thread and was wondering if you've actually made it yet to the million net worth. I shouldn't really say net worth but more the $1-million dollars in cash that you could call at anytime?

Has the journey been easier or more difficult than you had first imagined given the state of the markets, and has the journey slowed down any for you?

At what point do you think that you would have the million bucks, no debt (includes family home and cars + any toys all paid for)?

Hey Ethos,

One of my financial goals is to reach a million dollars in net worth by the age of 35 - I'm currently still in my late 20's.

The state of the market has certainly stalled net worth growth a bit, but with that, I expect larger gains in the future.

In terms of debt, we should have our regular mortgage paid off in 3-5 years or so, but we'll have a large investment loan remaining.

[The Financial Blogger]

One of my financial goals is to reach a million dollars in net worth by the age of 35 - I'm currently still in my late 20's.

Nice stuff! My latest plan will bring me to a 1M$ at the age of 45.... I still have to work on it to make it happens in 7 years (already turning 28 this year... aaahhhh).

It will be hard to get it with only one income (we plan that my wife will stop working within the next year)...

[moneygardener]

Hey Ethos,

One of my financial goals is to reach a million dollars in net worth by the age of 35 - I'm currently still in my late 20's.

FT, What compounded annual rate of net worth growth do you require in order to get there?

[Rickson9]

We all know the secrets to health and wealth. The problem is having the discipline to put what we know into practice. Maybe it will help when we hear stories of others who have made it or well on their way. Frugal Trader shared with his how he got started on his family's journey to financial freedom:

How did we Get Here?

Net Worth Updates

That's a great website and information! Thanks for sharing!

[Rickson9]

Hey Ethos,

One of my financial goals is to reach a million dollars in net worth by the age of 35 - I'm currently still in my late 20's.

The state of the market has certainly stalled net worth growth a bit, but with that, I expect larger gains in the future.

In terms of debt, we should have our regular mortgage paid off in 3-5 years or so, but we'll have a large investment loan remaining.

This is a great goal and definately one that is attainable! My wife and I started out in our mid-20s with nothing.

This is a great time to start on your goal, with stocks in ruin, there are a lot of bargains out there! (did I mention that there are a lot of bargains?)

[FrugalTrader]

FT, What compounded annual rate of net worth growth do you require in order to get there?

Hey MG,

I just did a CAGR calculation, and it looks like i'll need a compounded annual net worth increase of 23.16% to reach $1 million by the age of 35 (5.5 years).

[Sampson]

Although the % sounds very high, in reality - I think as your posts on your net worth show, most of the increase is coming from your new savings - so still a very achievable goal.

Good luck!

[Mockingbird]

We all know the secrets to health and wealth. The problem is having the discipline to put what we know into practice. Maybe it will help when we hear stories of others who have made it or well on their way. Frugal Trader shared with his how he got started on his family's journey to financial freedom:

Very impressive journey, FT.
Always looking forward to reading your blog.