2024 is off to a good start to say the least...
The market is firing on all cylinders, and the need to work far off into the future is looking less and less necessary. It would appear that we are not far off from "The Land of Critical Mass", a term that my idol and financial mentor Bob Brinker termed, which means you have enough assets that you don't have to work for "da man" anymore. It's not clear when I'll finally step away from the daily grind, but it would appear it's not more than a few years off.
Our daughter just turned 18, and will be graduating High School in May. We'll be cashing out a small amount of the college savings money to pay for a car. We've amassed more in our college accounts than we planned on, and there's really no way we'll spend it all. (knock on wood)
She is likely headed to the local state school, which we purchased two years of pre-paid college for right after she was born. That leaves a solid $150k to take her through til graduation.
About $100k of that money is in a Coverdell with Vanguard - we really did well in that account. We're going to need to roll that account over shortly into a 529, which will offer more flexibility in terms of spending options. Once in the 529 some of that money can even be rolled over into an IRA. We need to study up on all of this more...
What a difference a week makes. Our daughter was just accepted into the local university. She instantly accepted the offer. She was accepted into their College of Engineering, which is great. I definitely have worries about her ability to hold her own, but the fact that she was accepted is an accomplishment I am proud of.
On the money front - wow! S&P 5K! We find our net worth up another $30k from last week. The current uptrend is not sustainable, but nice to watch. We're considering putting some of our daughters college funds into something more stable - as we've achieved some incredible gains there.
We currently stand just $5K short of $2.5M. Part of this is my 401K, which is teetering on hitting $1M. Nuts!