FIRE Milestones – Reaching Millionaire Status

Mr.FireStation

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I’m going to start this post (part of a series of posts about retirement milestones), with the assumption that most early retirees in the developed world will reach millionaire status as a matter of course in achieving financial independence.  I know the FIRE community is filled with a good number of frugal-living devotees, but I think building toward a $1 million dollar net worth would represent most folks’ planning for 30-40 year retirement (live on $40K/year).

That being my assumption, I think getting into the millionaire ring is still a very significant milestone.  According to the Global Rich List, a million dollars in net worth puts you in the world’s top 0.56% of individuals. The kind that makes you think you are in some exclusive club with the Rockefellers, Vanderbilts, JP Morgan, and Howard Hughes.  You’re not, of course – those people made their millions when being a…

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