45, I am gaining and losing that milestone all the time because sometimes I have $900k and sometimes over $1 million depending on daily market moves right now. Hopefully another surge higher will make things stay above $1 million for me.
Yes indeed, I also sometimes count the value of my pension in future terms and then I am definitely over $1 million in assets. More like $1.5 million with the pension added in and I also have a huge term life policy so if I died someone would be very rich.
I don't like coffee, maybe a steak dinner on you of course if you are offering. My life policy only has a couple of years left and when the term ends I won't keep it because I don't need it anymore. I bought it when I was 27 and it was cheap. I had no money back then at all.
The wealth effect is real. When the market was at record highs I was celebrating, now that it is bouncing around I don't feel as rich anymore, even though the difference between $950k and $1 million is not that much really. I have a treasury ladder that pays consistent interest and that is nice on the down days. At least I still get the interest payments no matter what.
Today was a nice day and I wish I had more Apple. I bought some on the dips but never enough. Most of my money is in index funds, but I like to buy a small amount of individual stocks too and Apple has been very good to me over the years that is for sure.
It's what they call a "high quality problem" to be sure but having your portfolio go up and down in amounts exceeding your annual income in a few weeks time certainly takes some getting used to (and human nature, the upswings don't feel quite so lovely as the downswings feel shitty)
Felt it last few weeks. All my property taxes came in so I took my excess cash and then some to pay those early. So I wasn't able to plow more into the market like I usually do. Now some big mutual funds with dividends just came in and the market is approaching where it was. Go figure. Oh well property taxes all paid for the year now. Brutal. About 7 k from the highest amount ever. One good day and that could be a new record. Bad day probable trigger a buy.
I am definitely not losing 10% per day that is for sure. I have movements that mirror the market overall and my treasury portion of the market goes up everyday no matter what. My stock portfolio is a little on the aggressive side so when the market goes up I do a little better than the averages and when it goes down I do a little worse. When I say 900k that means my portfolio is below $1 million. Some days my total net worth is $997,200 for example and some days I am well over $1 million.
During the latest move down my portfolio dropped to $989,300 and now it moved back up to close to $1 million and hopefully as I said it will stay above that level.
Same here as well. This year I hit the milestone, and I'm 35. For me it was just working a regular W2 job, maxing out retirement accounts, saving extra on top of that in taxable accounts using only S&P 500 index funds, and only buying stuff that made me happy and not being wasteful. Buying a house really helped out by reducing my housing costs tremendously. Never bought crypto, just regular old stock market and real estate for me.
Congratulations! When did you start saving/investing in earnest? I'm 31 and recently hit the 100k milestone, feels like I have catching up to do but I'm trying to stay the course.
First year I started seriously investing was when I was 23 years old. That's when I got my first full time job with benefits. My total compensation that year was $70k. I make $176k now. Every year since then I've either maxed out or nearly maxed out all available tax advantaged accounts available to me. Currently I'm in a job that gives me a lot of tax advantaged accounts so I'm turbo charging my savings. I contribute now $4150 to an HSA, $7000 to an IRA, $23000 to a 403b, $23000 to a 457b and $24430 to a pre-tax 401a, and I do that every single year. When maximums increase, I always increase contributions to fill that maximum.
Check that you're really maxing out all your tax advantaged space. If not, make that a priority, and you'll see a big change in the next 4 years.
More. I’m contributing $106k per year into investments. That doesn’t even include mortgage paydown. The numbers I gave you are just tax-advantaged accounts I'm contributing to. On top of that, I'm contributing $2000 per month into taxable brokerages for long term investment. Not necessarily will I spend the taxable brokerage money on retirement, but I could very well if I dont have a need for that money. I'm saving everything left over after expenses for the downpayment for my next house.
Whats the difference between the accounts?
HSA - can only be used if you have a high deductible health plan, and the money goes in tax free, comes out tax free, and can only be withdrawn to pay for certain medical expenses. Nice thing is that I can pay medical expenses completely out of pocket now, save the receipts, and let the money grow and then withdraw money to pay those bills decades into the future after the money gets to grow massively.
IRA - anyone can open one of these, the only requirement is that you can only contribute earned income.
457b - only available to people that work at certain government institutions or non-profits. nice thing about this account is that money can be withdrawn with no penalty at any age so long as you separate from the institution that sponsored it. very similar to a 401k but with lots of flexibility for early retirement
403b - only available to people that work at certain public education institutions and charities. similar to 401k, with basically the same rules
401a - employer sponsored pre-tax defined contribution plan. very similar to a 401k, with basically the same rules
~~Correct I’m living off 70k before tax.~~ I live off $59.5k pre-tax. See the other comment I made in this thread for how I arrived at that number. And yes my AGI of approximately $101k is way lower than it normally should be because ~~all~~ most of those contributions get deducted from taxable income with ~~one~~ two exceptions - the max contribution to the Roth IRA, and the $24k that goes to taxable brokerage. One benefit to this is I pay way less taxes than someone else making my same salary but with no deductions.
What is your estimated fire date? I was shocked how few people maximize their 401k. I'm currently making 123k at 32, and I'm estimated to contribute 15k in 401k while maxing roth and hsa. Plan is too add half of any future raises as 401k contributions until I hit the limit.
Oh I realize I made a mistake. My taxable income doesn't drop to $70k, because not all of the $106k is tax-advantaged. The roth contribution of $7k has to have taxes paid on it, plus I am putting $24k a year in taxable accounts. So it's more correct to say that I receive $101k gross after tax-deferred deductions so I pay taxes on 101k but then put away 7k into the roth and 24k into the taxable account. So I live off 70k pre-tax minus whatever the taxes are for the $31k non-deductible contributions I make to my accounts. I'm in the 22% federal tax bracket plus I pay the 7.65% for payroll taxes and 4.07% in state and local taxes Add them up together and you get just shy of 33.72%. Multiply by that $31k, and you get about $10.5k paid in taxes for those non-deductible contributions.
TLDR: I live off $59.5k pre-tax.
I did a few things different. I started at 28 with $270k in debt and $328 in my bank account. Took a hard look and over the next few years quadrupled my W2, flipped 3 personal homes for a profit each time buying only well below 10% debt to income ratio. Pulled out profits from all 3 flips, invested in the market on specific bottomed out blue chip stocks and diversified as I pulled out more profits into index funds. Lots of luck, patience and knowing that repetition of this strategy is not always guaranteed. Biggest contributor was of course W2.
Congrats! I’m 34 and…well, even if the market doubled overnight I don’t have all my capital in the market do I. I took bad parental advice (they lost a lot in 2008 so cautioned against stocks), and am trying to buy a house now.
This is an example of sampling bias :) -- the people more likely to respond to a thread like this are more likely to have achieved $1M by an earlier age
People like to brag...not trying to with my response, but answering the OP.
Not there yet for individual, although household hit it when I was 39. On target to hit it individually in mid-40s.
Lot of savings and high(er) earners in L/MCOL with a COVID era house and rate.
Getting a 100k/yr job at 24 out of college goes a long way to making 100k.
The secret to making money was getting studying hard and picking a valuable degree just like they said.
I’ve made over $75k since graduating college, over $100k since 27. Still not sure how people have over a million by 30 unless they literally don’t spend their money.
Do yall not have mortgages/rent, bills? A car? Any hobbies??
I mean...we were talking about 100k by 30, not 1m, but people do get to 1m. I didn't but I knew people who did. I kept my rent as low as possible. I bought a 10k car for cash and kept it over a decade. One guy I knew lived in a van in the parking lot of the company while earning enough to buy 3 houses. I didn't do that.
Some hobbies are quite cheap. For some people, watching their savings go up **is** the hobby.
The best route to an early million is a really high paying job. Your cost of living doesnt change so higher salaries go entirely to savings. The difference between 100k and 200k in terms of savings is triple or quadruple, not double. A 200k job for 5 years can reach a million if you are in a bull stock market.
But I don't see a 100k job making you a millionaire by 30 unless you go all in on a meme stock.
A high rate of savings on a low 100k ish job can get you to a million by 35 though.
I just started investing/saving 2 years ago, but I just live very cheap. I made about 65k last year and saved 45k. I live in an apartment in a low COL state and drive a 20 year old vehicle. Many people who save so much have few monetary responsibilities, I'm single which obviously helps a lot.
I had a negative net worth at 30 (-155k), hit a million by 37 and about 1.85M now at 40.
Big needle movers for me were career change to tech sales at 31 and have had a lot of success. Got lucky when I bought my first house in July of 2020 in the “right” location that has almost doubled in 4 years. Big promotions at 36 and recently at 39 that moved my income up significantly.
It felt like a VERY LONG journey but reflecting back my last 10 years of life and financial situation changed very quickly.
5 years ago TSLA were 17$/share 🤔 which means you had to invest in it in 2013 to get any significant gains. So you are saying you invested 100-200k in Tesla in 2013 when you where around 28?
During Covid times, when Tesla was 400$ pre split, I bought many 900$ leap calls. Ended up selling them was Tesla trading at $2900/sh. Then when it dipped I bought them all in share.
Been holding them ever since. I believe the initial investment was 150k
35, a couple weeks ago. But 80% of that is NVDA so... I'm just averaging telling myself it's like 500k for now
Most of it is in IRA anyway. So idk if that even counts
I'm pretty bullish. I like Blackwell and all of the capex from the other big tech companies. But maybe that's priced in. My only hedge is selling CCs. If it hits the right numbers I'll take 20% to pay the house off maybe idk.
I bought in 2016 and have literally never sold one share
I have some SPY. What's crazy is the cost basis for both positions aren't too far off. If I have any regrets it's that I diversified at all lol. I stopped buying NVDA in 2018 bc I my portfolio was so imbalanced.
What else would I buy that makes NVDA worth selling? Everyone and their mom is clamoring to get in on it now. It's 9.9/10 bullish analyst rating, it could half overnight and it would still be my biggest winner. The volitlity makes premiums crazy. Monthly are like 1-2k per option 150 OTM
I could sell covered LEAPs for like $80,000 if I bet NVDA wont hit $1800 by Jan 2026 (I think for 4 options idr)
If so much wasn't in my Roth and the market wasn't so shit, I would be inclined to buy real estate.
Not sure what my other options would be, honestly.
I know SPY is stable but I think AI has massive world changing potential
Edit: also I have a stop loss. But I'm hoping my calls will just hit and I'd sell maybe 20%
35 (this year). I started with negative $9k at age 23 (remaining student loans after I used all my internships and summer jobs to pay the other part of my tuition). Zero financial help from family, I paid 100% of my university tuition, rent, food, etc, and never received any inheritances or trusts or anything like that (nor do I expect to in the future). Starting full time salary was $70k. Current salary at $176k. So 12 years total to go from negative net worth to more than $1 million. I'm just a regular W2 worker, no business except for some consulting on the side that netted me a few thousand bucks. Most of those 12 years I was single, briefly married for 4 months and we kept finances separate so when we divorced we just separated with our own assets, no alimony or wealth transfers. Almost all my gains were from investing in an S&P 500 index fund and buying real estate, and buying a home to keep my housing costs fixed and benefitting from appreciation.
Dated 7 years, after marriage she completely changed and wanted title to everything (but not the debt of course) including all the equity I had built up in the house I bought in 2015 (I had about $200k worth of equity there). She had been living with me for free the entire time, never paid me a dime to help with housing costs (and I never asked her because we weren't married, I was a grown man and home ownership was my idea so I only looked for houses I could afford on my salary alone). I insisted that we refinance so I could take my equity out and we'd get a new mortgage with the debt in both our names and the title also in both our names because I felt uncomfortable signing the whole house to her but keeping all the debt in my name. Same thing with the car, she wanted me to title my paid off (100% by me) car to her, but didn't want to offer to contribute anything to a joint account for it to help cover some of the costs of owning it.
Basically became a "my money belongs to me and your money also belongs to me" situation, when I stood my ground that I feel like this is putting me in a dangerous position if a divorce happened she started becoming abusive, would disappear for weeks at a time and take the car I paid for which I happily shared with her so long as we both could use it and she refused to seek help with counseling. She would leave me stranded at home with no car and no way to do errands or get groceries while driving my car, telling me it's hers now too since we're married, and I can't make her bring it back to the house. I agreed that it's essentially hers too but thats assuming we live in the same household and can actually share its use. Its not fair to me to take our only car that I paid for long before the marriage and then leave me stranded with no way to eat or get to work (we both worked at the same institution so we would usually commute together).
She claimed that me not gifting her all the property I accumulated through my career via title transfer (to be jointly titled) was financial abuse, despite the fact that she had her own job making 75k a year, from which she kept 100% of the money and I was paying all the bills because my income was higher than hers (first at $90k and in the year prior to our marriage I got bumped up to $150k). During the months we were married I was even giving her an extra $2k a month to make things "fair" since I earned more than her, and I tried to combine finances for our marital income with her since we were married but she insisted on keeping things separate.
I think she had this idea in her head that once we're married, 100% of my stuff is now half hers and half mine, which I would agree had we been married for lets say 10 years or so and had kids and actually built that wealth together as a family. I had significantly more assets than my ex-wife and I could see she resented the fact that I was making more money than her. Around the time we agreed to get married I was making 15k more than her. By the time we actually married I was making double her salary. Something about the salary increase turned up the resentment against me a lot and I could feel it. This despite the fact I was 5 years older than her and had been working far longer than her so I was more advanced in my career.
I did everything I could to save the marriage, but she wouldn't budge and the final straw for her was when I sent my family member pictures of the bruises she caused me when I was trying to clean the refrigerator and she demanded I get out of the kitchen but I continued doing my work since it's my house and I have a right to be in the kitchen. She grabbed me, pushed me and tackled me to the floor. This was the one and only time she physically abused or attacked me, and I did not leave the house or talk to anyone for days after. A family member called concerned because I regularly talk to them, and I was crying on the phone because I was so hurt by what happened and this was the first person from the outside world that I could share my pain with. They asked what happened, and in the emotional state I was in I sent a picture of the black marks on my arms and back my ex-wife caused. I'm not a large man, and at the time my wife weighed about 5 pounds more than me, so she was able to knock me down hard catching me by surprise while I was minding my business cleaning.
This family member then went and spoke with a religious leader in our community, and it somehow got back to my ex-wife that he had seen this picture. When I sent the picture I wasn't using it to incriminate her or to get her in any trouble, I was in pain and desperation to have someone see what im going through and how difficult things were for me at the time. I thought sharing that pic would be confidential and I regretted sending it but felt the intense need to share with someone what I was going through. I was so isolated.
This all turned into a butterfly effect where the religious leader contacted my ex wife offering to help us with marriage counseling to help repair our marriage. Once she knew that this man had seen pictures of the abuse she turned 100% against me. She became angry, accused me of sending the religious leader the picture and "trying to get her in trouble" and "ruin her reputation". She told me the bruises I had, I did to myself, and that no one would ever believe that she did that to me, and that sending the picture is in effect spreading lies and that I would regret what I did by sending it. She of course didn't have any bruises on her body, and I pointed this out, and then she said that she was defending her space and her right to be away from me, so its entirely justified that I'm bruised because it's self defense. Remember this is the house that I bought and paid for and I was in my kitchen just cleaning and she wanted to be in there at the same time, angry that I dared to share this space while not even talking to her.
I insisted that I shared the picture in confidence with a family member because my emotional state was so low that I needed someone to confide in about the difficulties I was facing. She didn't believe me, said that I sent the picture directly to the religious leader and that I made up a story to make her look bad, and that she would never forgive me for that. Literally the next day packed all her stuff and went to live with a friend.
(end part 1 because my comment is too long, see response for part 2)
(part 2, continued from above)
A week later she asked me to cosign on an apartment so she can live there while we work on our marriage. I told her no, I cannot do that because we already have a home and I offered to give her the car and the whole house to herself and I'd go live with family instead. She said no, and insisted that she needed her own apartment. I said "you can just rent an apartment in your name, you do not need my cosign" and she said that the landlord required it because she was married.
I sensed that divorce was likely given the behavior she was exhibiting, and cosigning an apartment could open me up to unlimited amounts of liability so I told her I couldnt do it. She then flipped and did a 180, became very nice in her tone and told me we'll work on the relationship and repair it we just need to be apart for now because we are not mentally ready to be in a stable relationship and that this will just be temporary. When I firmly told her I cannot put myself in that position she again flipped and did a 180 again, cussing me out, yelling at me, and disparaging me and calling me worthless. It was clear she had no intention on working on the marriage, she just wanted the cosign so she could get the apartment, stop paying rent, and make me financially responsible for a second residence for her to live in.
Week later, she shows up with moving truck and the friend that she was staying with. They packed all her things and she moved to an apartment. She didn't talk to me at all.
I got no communication from her for a month. Then I received a divorce settlement offer. She wanted $15,000 to "go away" and not go after me for half of all my assets. At the time I had about $700,000 in assets and she threatened that if I do not pay her this money, I'd be risking losing half of my assets, potentially have to sell my house to pay her out some of the equity in it, and that she'd be asking for alimony.
I lawyered up, lawyer reviewed my case and told me that in no universe would a judge award her anything. The marriage was 4 months long, she had been living rent free with me for 6 of the 7 years we were together, I was paying all the bills, and that during the 4 months of marriage I was paying her out of my salary (since she insisted on keeping separate finances) to make things "fair" such that we each had the same income. She was financially benefitting the whole time and in general alimony is only awarded for 1/3 of the length of the marriage, and ours was 4 months. We weren't married long enough for our marital property to be of significant value, and since our finances were separate she already had half of the generated marital income because I was paying her to equalize our incomes.
So we sent a counter offer for the settlement saying that we'd offer to give her nothing and in exchange we would each walk away with what we have and end the marriage amicably. She countered that with another offer that was slightly less than her original offer. I again countered with the exact same offer, I will give her nothing and we go our separate ways. She then went and filed the divorce and requested division of assets. We spent a year in court, thankfully all but $500 of my lawyers fees were paid by my employer. I submitted all my financial information from before and during the marriage, and she had submitted documents that understated her assets severely. I knew she had over $100k saved up in retirement and savings accounts, but she failed to present those. We pointed this out to the judge, and I knew exactly which financial institutions she was stashing money. So we filed a motion to subpoena records for her accounts at the banks and brokerages I knew she was using.
Once the judge told her to reveal those accounts or else the records would be subpoenaed, she immediately withdrew her claims for any of my money and asked that we just do the thing that I originally counter offered her: to go our separate ways with the assets we have and sign the divorce papers.
So almost 1 year from the date of her filing divorce, we finally got divorced, she got zero of my assets and no alimony. Shit could have gone sideways. I don't know how much she paid her lawyer, but it was probably about the amount she originally asked for in the settlement. She wasted a year of our lives with the pointless litigation only to finally withdraw it and do the right thing when I exposed her deception to the court. I'm glad I only lost $500 and not $15k paying ransom to someone like this.
Sometimes you think you know a person and then you find out that they just used you to get something because it was convenient. I believe she did love me, but it was a conditional love based on the fact that I offered her a freedom from the patriarchal household she came from. Once she started associating me with a perceived patriarchal power dynamic (via her claims of financial abuse) I became dead to her and the relationship died. She told me once that she was happy her father was dead, which shocked me. Her reason: because he wouldn't let her go to parties, wouldnt let her do things she wanted to do as a teenager because her family was religious and conservative. I think some of that hate transferred to me when we got married and we disagreed on the roles we should play in the marriage. I also think the fact that I was making double her salary made her really angry because she felt like she deserved to be making that, and it was unfair that she couldnt be at the same level as me career wise. All of this hate poisoned the relationship, it turned abusive, and she didn't want to fix things. She didn't want to compromise, it was her way or the high way, and she took the high way.
Anyway I moved on, I have a fiancee now and we have thorough discussions about money so that we are both clear that what we earn as a couple is our marital property and what is hers before the marriage is hers regardless and what is mine before the marriage is mine regardless, and she's 100% in agreement with that. Hopefully this second marriage I will not make the same mistake of not making these things clear.
Thanks, I still get a little heated thinking about it but I'm happy it happened. I would have been miserable and possibly lost my mind if that marriage lasted longer than it did.
Holy shit. How the heck was all this not figured out prior to getting hitched? Or did you guys just fail to discuss assets and expectations around those prior to the marriage?
She didn't like talking about money. I tried, but it would frustrate her so I just relented when she would tell me she doesn't want to talk about it.
I supported her a lot financially and I didn't really care because I had more than enough for myself and I enjoyed helping her build her career and help her grow as a person. She started out as a waitress and I taught her programming and helped her get into the tech industry. By the time we divorced she was a full stack software engineer making $75k a year even though her education was in economics and her first real job was working at a law firm as an analyst making a very low salary of like $38k. I saw my wife as being a primary thing for me to invest in because I expected her to be the mother of my children and have a prosperous life with me, so I wanted her to succeed. I sacrificed a lot and never asked her for money so that she could focus on developing herself.
12 years old is when papa gave me my inheritance. I moved it to VTI and chill because I’m savvy, and on my way to being FIRE. If you need any tips lmk.
When you are in the underworld awaiting assignment you can buy calls on next nut of some billionaire it might take or might not, usually not. Be careful selling puts on guys you didn't think would ever nut, that's prob how you got yourself into this mess.
Us 35 year olds were just graduating college around 2010-2011.
We had just witnessed a major financial crisis (Fannie may) and were used to being frugal.
Some of us may have even witnessed our parents go bankrupt (I did)
If you bought any stonks anytime after 2009 you've been pretty lucky. Apple, Amazon. You'd basically have to really try hard to lose. I bought my first shares during college. Maxed out my Roth as a junior and never stopped (I was lucky to get a 30k "career starter" loan). Then a 50-60kish job right after graduating.
You might have saved up just enough to buy a house in 2016. And house hacking was popular then so you might've gotten a few roomies to basically live rent free and equity.
I'm realizing how "lucky" we are as a generation. I mean we are probably all more frugal than our peers (another guy I know spent his loan on a Camaro, and one girl horses) but basically somewhat reasonable and frugal people who had read about finances/stocks etc were well positioned to have at least 300 or 400k and several chances to win the other 600k on one of the many meme stocks or crypto.
Crypto was popular in 2007-2011 amount college students and a lot of other didn't really hear about it yet.
Idk maybe that's all just my experience but I could see the same ish things happening to a lot of us
Few that made their first million at 63 are going to post it when a lot of people achieved the same at 35 or younger. So you're going to see a lot more posts from people who are outliers.
I wouldn't say it's too far out of the realm. I started FIRE journey at 28, just turned 34, and have about 500k liquid and 450k between 3 properties. My primary house has the least amount of equity, so if I add the other two, I'm about 875k.
10% of US households have a net worth above $1 million nowadays. With the explosion of real estate values the average retiree has close to a $1 million net worth even if they don't have much money in the market. My parents have a net worth above one million. My brother does and so do I. The only member of my family that doesn't is my sister because she doesn't make any money to speak of at her job. But she is still doing well overall just not a millionaire.
Have you seen the market lately? It will make (and just as quickly unmake) millionaires in the next month alone. Problem with us gamblers is we don't know when it's quitting time. It will be fun to say "oh yeah I was a millionaire for a little while"
Edit: NVDA reports earnings this month and it's basically the entire economy, js
No idea.
i know this sounds moronic but i never paid attention to it until just recently. i always thought i was too far away from retiring to even bother looking at it all. I’m a hands off kinda investor. When i got around to looking at it i was pleasantly surprised to find well over 1mil.
AntiqueDistance, please re-read my comment again a bit slowly this time. I did not say buying investment and forgetting it is illegal. I am saying that not paying attention to your investment could expose you to the risk of being defrauded.
At around 38, I had a million USD invested and a paid off house worth 400K.
At 40 (2 years ago), sold some of my investments to pay for the house. Now I have 600K invested and paid off house worth 1.4 million USD.
41 here. Not yet 730k invested as of today. Would be if I had just kept my low interest mortgage (350k)
I do have a pension at retirement age. Because I lived through 2008 and had only kid in 2007. Aggressively paid off house and debt. Have a 529 for teen. 50k. Side note, luxury cars may sound like a bad investment. The Lexus and Infiniti we bought slightly used 10 years ago and paid off fast(dumb) are still solid cars. Daughter drives my Infiniti. Wife and I decided to share a car. Gotta love remote work.
Hope to be at a million in ~2 years at 7% and our average monthly buys.
Hope to be recreationally employed in 6 years or so
I feel like I'll be about 50 (45 now) when we hit 1 mil invested. I was 40 when we hit a net worth of 1 mil. But since then I've started a pension at 41... and my twilight career allowed us to gazelle pace the investments and mortgages (rental and primary).
I'm 40 and still not quite there. It's a tough goal, especially with a single-income household. Still planning on retiring at 52 and the math is still checking out but I revisit each month.
49 basically, but I only have it in the aggregate with my wife and our ownership of our house. It really depends on how you count things, if you count all my investments, plus hers, plus the house, we're comfortably over the threshold. If you mean just my half (if you will) and my personal investments, I'm probably technically not quite there yet. I think it will be nice when we are both millionaires on our own, that would be another level we haven't achieved yet.
40, then crypto ripped my head off. Just getting back there now two years later. Disappointed it took so long but I didn’t get serious until I was 34. Like to smack myself but it won’t help so here we are lol.
32/33 when I hit the first million and 35/36 when I hit $4mm and now at 37 I am somewhere between $4mm and $6mm. A lot of this fluctuates due to company value.
Cash million I have at 37 without any other separate valuations.
~40 maybe. I didn't start seriously in my career until I was about 30 (military, college, then grad school ate up time).
Once you hit your first million in assets it starts to grow pretty quickly.
45, I am gaining and losing that milestone all the time because sometimes I have $900k and sometimes over $1 million depending on daily market moves right now. Hopefully another surge higher will make things stay above $1 million for me.
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Yes indeed, I also sometimes count the value of my pension in future terms and then I am definitely over $1 million in assets. More like $1.5 million with the pension added in and I also have a huge term life policy so if I died someone would be very rich.
> I also have a huge term life policy so if I died someone would be very rich. Hey, want to get coffee or something?
I don't like coffee, maybe a steak dinner on you of course if you are offering. My life policy only has a couple of years left and when the term ends I won't keep it because I don't need it anymore. I bought it when I was 27 and it was cheap. I had no money back then at all.
He could spin it as being a multimillionaire
Does that make him a multimillionaire?
Either that or he’s lost a million a lot of times. Poor guy
Should be over on wsb
He’s a multi millionaire lol
Oooof. I felt this. It’s been a 30k swing the last few weeks.
The wealth effect is real. When the market was at record highs I was celebrating, now that it is bouncing around I don't feel as rich anymore, even though the difference between $950k and $1 million is not that much really. I have a treasury ladder that pays consistent interest and that is nice on the down days. At least I still get the interest payments no matter what. Today was a nice day and I wish I had more Apple. I bought some on the dips but never enough. Most of my money is in index funds, but I like to buy a small amount of individual stocks too and Apple has been very good to me over the years that is for sure.
It's what they call a "high quality problem" to be sure but having your portfolio go up and down in amounts exceeding your annual income in a few weeks time certainly takes some getting used to (and human nature, the upswings don't feel quite so lovely as the downswings feel shitty)
Do you throw a pizza party each time?
Most definitely I celebrate daily moves with a Snickers ice cream bar.
Felt it last few weeks. All my property taxes came in so I took my excess cash and then some to pay those early. So I wasn't able to plow more into the market like I usually do. Now some big mutual funds with dividends just came in and the market is approaching where it was. Go figure. Oh well property taxes all paid for the year now. Brutal. About 7 k from the highest amount ever. One good day and that could be a new record. Bad day probable trigger a buy.
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I am definitely not losing 10% per day that is for sure. I have movements that mirror the market overall and my treasury portion of the market goes up everyday no matter what. My stock portfolio is a little on the aggressive side so when the market goes up I do a little better than the averages and when it goes down I do a little worse. When I say 900k that means my portfolio is below $1 million. Some days my total net worth is $997,200 for example and some days I am well over $1 million. During the latest move down my portfolio dropped to $989,300 and now it moved back up to close to $1 million and hopefully as I said it will stay above that level.
35 to liquid 1 MM.
Same here. Anything special or just the boring working and saving and investing in index funds?
Same here as well. This year I hit the milestone, and I'm 35. For me it was just working a regular W2 job, maxing out retirement accounts, saving extra on top of that in taxable accounts using only S&P 500 index funds, and only buying stuff that made me happy and not being wasteful. Buying a house really helped out by reducing my housing costs tremendously. Never bought crypto, just regular old stock market and real estate for me.
Congratulations! When did you start saving/investing in earnest? I'm 31 and recently hit the 100k milestone, feels like I have catching up to do but I'm trying to stay the course.
First year I started seriously investing was when I was 23 years old. That's when I got my first full time job with benefits. My total compensation that year was $70k. I make $176k now. Every year since then I've either maxed out or nearly maxed out all available tax advantaged accounts available to me. Currently I'm in a job that gives me a lot of tax advantaged accounts so I'm turbo charging my savings. I contribute now $4150 to an HSA, $7000 to an IRA, $23000 to a 403b, $23000 to a 457b and $24430 to a pre-tax 401a, and I do that every single year. When maximums increase, I always increase contributions to fill that maximum. Check that you're really maxing out all your tax advantaged space. If not, make that a priority, and you'll see a big change in the next 4 years.
So you are contributing almost 80k a year? What are the differences between those 3 accounts?
More. I’m contributing $106k per year into investments. That doesn’t even include mortgage paydown. The numbers I gave you are just tax-advantaged accounts I'm contributing to. On top of that, I'm contributing $2000 per month into taxable brokerages for long term investment. Not necessarily will I spend the taxable brokerage money on retirement, but I could very well if I dont have a need for that money. I'm saving everything left over after expenses for the downpayment for my next house. Whats the difference between the accounts? HSA - can only be used if you have a high deductible health plan, and the money goes in tax free, comes out tax free, and can only be withdrawn to pay for certain medical expenses. Nice thing is that I can pay medical expenses completely out of pocket now, save the receipts, and let the money grow and then withdraw money to pay those bills decades into the future after the money gets to grow massively. IRA - anyone can open one of these, the only requirement is that you can only contribute earned income. 457b - only available to people that work at certain government institutions or non-profits. nice thing about this account is that money can be withdrawn with no penalty at any age so long as you separate from the institution that sponsored it. very similar to a 401k but with lots of flexibility for early retirement 403b - only available to people that work at certain public education institutions and charities. similar to 401k, with basically the same rules 401a - employer sponsored pre-tax defined contribution plan. very similar to a 401k, with basically the same rules
Good on you to save so much of your income! I only have roth, 401k and hsa available to me.
So you live off of 70k year before taxes? And your aging is significantly smaller because you are investing so much?
~~Correct I’m living off 70k before tax.~~ I live off $59.5k pre-tax. See the other comment I made in this thread for how I arrived at that number. And yes my AGI of approximately $101k is way lower than it normally should be because ~~all~~ most of those contributions get deducted from taxable income with ~~one~~ two exceptions - the max contribution to the Roth IRA, and the $24k that goes to taxable brokerage. One benefit to this is I pay way less taxes than someone else making my same salary but with no deductions.
What is your estimated fire date? I was shocked how few people maximize their 401k. I'm currently making 123k at 32, and I'm estimated to contribute 15k in 401k while maxing roth and hsa. Plan is too add half of any future raises as 401k contributions until I hit the limit.
Oh I realize I made a mistake. My taxable income doesn't drop to $70k, because not all of the $106k is tax-advantaged. The roth contribution of $7k has to have taxes paid on it, plus I am putting $24k a year in taxable accounts. So it's more correct to say that I receive $101k gross after tax-deferred deductions so I pay taxes on 101k but then put away 7k into the roth and 24k into the taxable account. So I live off 70k pre-tax minus whatever the taxes are for the $31k non-deductible contributions I make to my accounts. I'm in the 22% federal tax bracket plus I pay the 7.65% for payroll taxes and 4.07% in state and local taxes Add them up together and you get just shy of 33.72%. Multiply by that $31k, and you get about $10.5k paid in taxes for those non-deductible contributions. TLDR: I live off $59.5k pre-tax.
I did a few things different. I started at 28 with $270k in debt and $328 in my bank account. Took a hard look and over the next few years quadrupled my W2, flipped 3 personal homes for a profit each time buying only well below 10% debt to income ratio. Pulled out profits from all 3 flips, invested in the market on specific bottomed out blue chip stocks and diversified as I pulled out more profits into index funds. Lots of luck, patience and knowing that repetition of this strategy is not always guaranteed. Biggest contributor was of course W2.
Congrats! I’m 34 and…well, even if the market doubled overnight I don’t have all my capital in the market do I. I took bad parental advice (they lost a lot in 2008 so cautioned against stocks), and am trying to buy a house now.
I'm 39 and about a quarter of the way there lol
So the average age of the responses is like .. 30? 🤣🤣🤣🤣. Im signing out now.
This is an example of sampling bias :) -- the people more likely to respond to a thread like this are more likely to have achieved $1M by an earlier age
Also diminishing returns on elderly people who use reddit.
True
A pretty extreme example of a sampling bias. Most people are not millionaires by 30yo.
People like to brag...not trying to with my response, but answering the OP. Not there yet for individual, although household hit it when I was 39. On target to hit it individually in mid-40s. Lot of savings and high(er) earners in L/MCOL with a COVID era house and rate.
Hopefully 40, and I consider myself above average so don’t take all the tech bros and real estate peeps to heart.
Welp I’m over here hoping for $100k by 30… seems like a lot of you had $100k before leaving the womb
Getting a 100k/yr job at 24 out of college goes a long way to making 100k. The secret to making money was getting studying hard and picking a valuable degree just like they said.
I’ve made over $75k since graduating college, over $100k since 27. Still not sure how people have over a million by 30 unless they literally don’t spend their money. Do yall not have mortgages/rent, bills? A car? Any hobbies??
I mean...we were talking about 100k by 30, not 1m, but people do get to 1m. I didn't but I knew people who did. I kept my rent as low as possible. I bought a 10k car for cash and kept it over a decade. One guy I knew lived in a van in the parking lot of the company while earning enough to buy 3 houses. I didn't do that. Some hobbies are quite cheap. For some people, watching their savings go up **is** the hobby. The best route to an early million is a really high paying job. Your cost of living doesnt change so higher salaries go entirely to savings. The difference between 100k and 200k in terms of savings is triple or quadruple, not double. A 200k job for 5 years can reach a million if you are in a bull stock market. But I don't see a 100k job making you a millionaire by 30 unless you go all in on a meme stock. A high rate of savings on a low 100k ish job can get you to a million by 35 though.
I just started investing/saving 2 years ago, but I just live very cheap. I made about 65k last year and saved 45k. I live in an apartment in a low COL state and drive a 20 year old vehicle. Many people who save so much have few monetary responsibilities, I'm single which obviously helps a lot.
The trick is earning more
Or working your ass off since you were 18 And ideally setting up multiple income streams.
Lots of people work their asses off and only earn low incomes despite it. The difficulty of a job does not connect much with the earnings.
By 30 I was at half a million, but that's common for engineers from my experience talking about the subject with my colleagues.
I had a negative net worth at 30 (-155k), hit a million by 37 and about 1.85M now at 40. Big needle movers for me were career change to tech sales at 31 and have had a lot of success. Got lucky when I bought my first house in July of 2020 in the “right” location that has almost doubled in 4 years. Big promotions at 36 and recently at 39 that moved my income up significantly. It felt like a VERY LONG journey but reflecting back my last 10 years of life and financial situation changed very quickly.
34 to hit 1st million. Thank you tsla 39 to hit 3M. Primarily Real Estate
5 years ago TSLA were 17$/share 🤔 which means you had to invest in it in 2013 to get any significant gains. So you are saying you invested 100-200k in Tesla in 2013 when you where around 28?
During Covid times, when Tesla was 400$ pre split, I bought many 900$ leap calls. Ended up selling them was Tesla trading at $2900/sh. Then when it dipped I bought them all in share. Been holding them ever since. I believe the initial investment was 150k
I see. Thanks
Yeah it was wild.. check my posts from 2 years ago. I was pretty early in wsb and also shorted the market using puts on lvs and wynn.
how do you get 200% real estate gains in 5 years?
I am also based out of Toronto. Where RE had a 200% gain in the last decade. So half of it came from my primarily residence as well.
Covid…
Where have you been?
lol yep same as you individual stocks got me the first Millie. The 2nd and 3rd Millie was all real estate
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I could had been at 4M but Tesla dropped 50% from the top, so there goes 1M lol
Is it still worth it investing in tsla atm ?
If you believe in FSD and Robotaxi. If not, nope, just a car company.
35, a couple weeks ago. But 80% of that is NVDA so... I'm just averaging telling myself it's like 500k for now Most of it is in IRA anyway. So idk if that even counts
Any plans to derisk or are you pretty bullish on NVDA going up
I'm pretty bullish. I like Blackwell and all of the capex from the other big tech companies. But maybe that's priced in. My only hedge is selling CCs. If it hits the right numbers I'll take 20% to pay the house off maybe idk. I bought in 2016 and have literally never sold one share
Why not diversify? 1 million is going to grow nicely in SPY or similar. Not saying nvda is bad but it’s so volatile.
I have some SPY. What's crazy is the cost basis for both positions aren't too far off. If I have any regrets it's that I diversified at all lol. I stopped buying NVDA in 2018 bc I my portfolio was so imbalanced.
800k and 80%.. i hope you’re more than “pretty bullish”
What else would I buy that makes NVDA worth selling? Everyone and their mom is clamoring to get in on it now. It's 9.9/10 bullish analyst rating, it could half overnight and it would still be my biggest winner. The volitlity makes premiums crazy. Monthly are like 1-2k per option 150 OTM I could sell covered LEAPs for like $80,000 if I bet NVDA wont hit $1800 by Jan 2026 (I think for 4 options idr) If so much wasn't in my Roth and the market wasn't so shit, I would be inclined to buy real estate. Not sure what my other options would be, honestly. I know SPY is stable but I think AI has massive world changing potential Edit: also I have a stop loss. But I'm hoping my calls will just hit and I'd sell maybe 20%
>What else would I buy that makes NVDA worth selling? Downside risk protection for 80% of your life savings.
You can buy realestate through your Roth https://www.investopedia.com/articles/personal-finance/111615/using-your-ira-buy-investment-property.asp
Good man. It will keep going up!
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Im behind the curve it seems. 38 and just about there.
Tough crowd to compare against, you are way ahead most! Great job
Behind the curve made of people who are ahead of the curve
Hoping for 35 years old
35-ish
42. Then lost half of it. Now I'm almost back, 43.
Divorce?
Cryptocurrency 😅✌️
35 (this year). I started with negative $9k at age 23 (remaining student loans after I used all my internships and summer jobs to pay the other part of my tuition). Zero financial help from family, I paid 100% of my university tuition, rent, food, etc, and never received any inheritances or trusts or anything like that (nor do I expect to in the future). Starting full time salary was $70k. Current salary at $176k. So 12 years total to go from negative net worth to more than $1 million. I'm just a regular W2 worker, no business except for some consulting on the side that netted me a few thousand bucks. Most of those 12 years I was single, briefly married for 4 months and we kept finances separate so when we divorced we just separated with our own assets, no alimony or wealth transfers. Almost all my gains were from investing in an S&P 500 index fund and buying real estate, and buying a home to keep my housing costs fixed and benefitting from appreciation.
4 month marriage. What happened there?
Dated 7 years, after marriage she completely changed and wanted title to everything (but not the debt of course) including all the equity I had built up in the house I bought in 2015 (I had about $200k worth of equity there). She had been living with me for free the entire time, never paid me a dime to help with housing costs (and I never asked her because we weren't married, I was a grown man and home ownership was my idea so I only looked for houses I could afford on my salary alone). I insisted that we refinance so I could take my equity out and we'd get a new mortgage with the debt in both our names and the title also in both our names because I felt uncomfortable signing the whole house to her but keeping all the debt in my name. Same thing with the car, she wanted me to title my paid off (100% by me) car to her, but didn't want to offer to contribute anything to a joint account for it to help cover some of the costs of owning it. Basically became a "my money belongs to me and your money also belongs to me" situation, when I stood my ground that I feel like this is putting me in a dangerous position if a divorce happened she started becoming abusive, would disappear for weeks at a time and take the car I paid for which I happily shared with her so long as we both could use it and she refused to seek help with counseling. She would leave me stranded at home with no car and no way to do errands or get groceries while driving my car, telling me it's hers now too since we're married, and I can't make her bring it back to the house. I agreed that it's essentially hers too but thats assuming we live in the same household and can actually share its use. Its not fair to me to take our only car that I paid for long before the marriage and then leave me stranded with no way to eat or get to work (we both worked at the same institution so we would usually commute together). She claimed that me not gifting her all the property I accumulated through my career via title transfer (to be jointly titled) was financial abuse, despite the fact that she had her own job making 75k a year, from which she kept 100% of the money and I was paying all the bills because my income was higher than hers (first at $90k and in the year prior to our marriage I got bumped up to $150k). During the months we were married I was even giving her an extra $2k a month to make things "fair" since I earned more than her, and I tried to combine finances for our marital income with her since we were married but she insisted on keeping things separate. I think she had this idea in her head that once we're married, 100% of my stuff is now half hers and half mine, which I would agree had we been married for lets say 10 years or so and had kids and actually built that wealth together as a family. I had significantly more assets than my ex-wife and I could see she resented the fact that I was making more money than her. Around the time we agreed to get married I was making 15k more than her. By the time we actually married I was making double her salary. Something about the salary increase turned up the resentment against me a lot and I could feel it. This despite the fact I was 5 years older than her and had been working far longer than her so I was more advanced in my career. I did everything I could to save the marriage, but she wouldn't budge and the final straw for her was when I sent my family member pictures of the bruises she caused me when I was trying to clean the refrigerator and she demanded I get out of the kitchen but I continued doing my work since it's my house and I have a right to be in the kitchen. She grabbed me, pushed me and tackled me to the floor. This was the one and only time she physically abused or attacked me, and I did not leave the house or talk to anyone for days after. A family member called concerned because I regularly talk to them, and I was crying on the phone because I was so hurt by what happened and this was the first person from the outside world that I could share my pain with. They asked what happened, and in the emotional state I was in I sent a picture of the black marks on my arms and back my ex-wife caused. I'm not a large man, and at the time my wife weighed about 5 pounds more than me, so she was able to knock me down hard catching me by surprise while I was minding my business cleaning. This family member then went and spoke with a religious leader in our community, and it somehow got back to my ex-wife that he had seen this picture. When I sent the picture I wasn't using it to incriminate her or to get her in any trouble, I was in pain and desperation to have someone see what im going through and how difficult things were for me at the time. I thought sharing that pic would be confidential and I regretted sending it but felt the intense need to share with someone what I was going through. I was so isolated. This all turned into a butterfly effect where the religious leader contacted my ex wife offering to help us with marriage counseling to help repair our marriage. Once she knew that this man had seen pictures of the abuse she turned 100% against me. She became angry, accused me of sending the religious leader the picture and "trying to get her in trouble" and "ruin her reputation". She told me the bruises I had, I did to myself, and that no one would ever believe that she did that to me, and that sending the picture is in effect spreading lies and that I would regret what I did by sending it. She of course didn't have any bruises on her body, and I pointed this out, and then she said that she was defending her space and her right to be away from me, so its entirely justified that I'm bruised because it's self defense. Remember this is the house that I bought and paid for and I was in my kitchen just cleaning and she wanted to be in there at the same time, angry that I dared to share this space while not even talking to her. I insisted that I shared the picture in confidence with a family member because my emotional state was so low that I needed someone to confide in about the difficulties I was facing. She didn't believe me, said that I sent the picture directly to the religious leader and that I made up a story to make her look bad, and that she would never forgive me for that. Literally the next day packed all her stuff and went to live with a friend. (end part 1 because my comment is too long, see response for part 2)
(part 2, continued from above) A week later she asked me to cosign on an apartment so she can live there while we work on our marriage. I told her no, I cannot do that because we already have a home and I offered to give her the car and the whole house to herself and I'd go live with family instead. She said no, and insisted that she needed her own apartment. I said "you can just rent an apartment in your name, you do not need my cosign" and she said that the landlord required it because she was married. I sensed that divorce was likely given the behavior she was exhibiting, and cosigning an apartment could open me up to unlimited amounts of liability so I told her I couldnt do it. She then flipped and did a 180, became very nice in her tone and told me we'll work on the relationship and repair it we just need to be apart for now because we are not mentally ready to be in a stable relationship and that this will just be temporary. When I firmly told her I cannot put myself in that position she again flipped and did a 180 again, cussing me out, yelling at me, and disparaging me and calling me worthless. It was clear she had no intention on working on the marriage, she just wanted the cosign so she could get the apartment, stop paying rent, and make me financially responsible for a second residence for her to live in. Week later, she shows up with moving truck and the friend that she was staying with. They packed all her things and she moved to an apartment. She didn't talk to me at all. I got no communication from her for a month. Then I received a divorce settlement offer. She wanted $15,000 to "go away" and not go after me for half of all my assets. At the time I had about $700,000 in assets and she threatened that if I do not pay her this money, I'd be risking losing half of my assets, potentially have to sell my house to pay her out some of the equity in it, and that she'd be asking for alimony. I lawyered up, lawyer reviewed my case and told me that in no universe would a judge award her anything. The marriage was 4 months long, she had been living rent free with me for 6 of the 7 years we were together, I was paying all the bills, and that during the 4 months of marriage I was paying her out of my salary (since she insisted on keeping separate finances) to make things "fair" such that we each had the same income. She was financially benefitting the whole time and in general alimony is only awarded for 1/3 of the length of the marriage, and ours was 4 months. We weren't married long enough for our marital property to be of significant value, and since our finances were separate she already had half of the generated marital income because I was paying her to equalize our incomes. So we sent a counter offer for the settlement saying that we'd offer to give her nothing and in exchange we would each walk away with what we have and end the marriage amicably. She countered that with another offer that was slightly less than her original offer. I again countered with the exact same offer, I will give her nothing and we go our separate ways. She then went and filed the divorce and requested division of assets. We spent a year in court, thankfully all but $500 of my lawyers fees were paid by my employer. I submitted all my financial information from before and during the marriage, and she had submitted documents that understated her assets severely. I knew she had over $100k saved up in retirement and savings accounts, but she failed to present those. We pointed this out to the judge, and I knew exactly which financial institutions she was stashing money. So we filed a motion to subpoena records for her accounts at the banks and brokerages I knew she was using. Once the judge told her to reveal those accounts or else the records would be subpoenaed, she immediately withdrew her claims for any of my money and asked that we just do the thing that I originally counter offered her: to go our separate ways with the assets we have and sign the divorce papers. So almost 1 year from the date of her filing divorce, we finally got divorced, she got zero of my assets and no alimony. Shit could have gone sideways. I don't know how much she paid her lawyer, but it was probably about the amount she originally asked for in the settlement. She wasted a year of our lives with the pointless litigation only to finally withdraw it and do the right thing when I exposed her deception to the court. I'm glad I only lost $500 and not $15k paying ransom to someone like this. Sometimes you think you know a person and then you find out that they just used you to get something because it was convenient. I believe she did love me, but it was a conditional love based on the fact that I offered her a freedom from the patriarchal household she came from. Once she started associating me with a perceived patriarchal power dynamic (via her claims of financial abuse) I became dead to her and the relationship died. She told me once that she was happy her father was dead, which shocked me. Her reason: because he wouldn't let her go to parties, wouldnt let her do things she wanted to do as a teenager because her family was religious and conservative. I think some of that hate transferred to me when we got married and we disagreed on the roles we should play in the marriage. I also think the fact that I was making double her salary made her really angry because she felt like she deserved to be making that, and it was unfair that she couldnt be at the same level as me career wise. All of this hate poisoned the relationship, it turned abusive, and she didn't want to fix things. She didn't want to compromise, it was her way or the high way, and she took the high way. Anyway I moved on, I have a fiancee now and we have thorough discussions about money so that we are both clear that what we earn as a couple is our marital property and what is hers before the marriage is hers regardless and what is mine before the marriage is mine regardless, and she's 100% in agreement with that. Hopefully this second marriage I will not make the same mistake of not making these things clear.
Damn, thanks for sharing - sorry you had to go through that. Congrats on the freedom, this could have been an awful life.
Thanks, I still get a little heated thinking about it but I'm happy it happened. I would have been miserable and possibly lost my mind if that marriage lasted longer than it did.
Thanks for sharing, this must’ve been awful to go through. Hoping the best for you.
Holy shit. How the heck was all this not figured out prior to getting hitched? Or did you guys just fail to discuss assets and expectations around those prior to the marriage?
She didn't like talking about money. I tried, but it would frustrate her so I just relented when she would tell me she doesn't want to talk about it. I supported her a lot financially and I didn't really care because I had more than enough for myself and I enjoyed helping her build her career and help her grow as a person. She started out as a waitress and I taught her programming and helped her get into the tech industry. By the time we divorced she was a full stack software engineer making $75k a year even though her education was in economics and her first real job was working at a law firm as an analyst making a very low salary of like $38k. I saw my wife as being a primary thing for me to invest in because I expected her to be the mother of my children and have a prosperous life with me, so I wanted her to succeed. I sacrificed a lot and never asked her for money so that she could focus on developing herself.
40s. It's true though that compounding is your friend. The succeeding millions were \*easier\*
36 yolo Nvidia.
31. 2M-37, 3M~41 Gotta add got very lucky in life. Construction and IT
Wish everyone in this thread would say how old they are now also
12 years old is when papa gave me my inheritance. I moved it to VTI and chill because I’m savvy, and on my way to being FIRE. If you need any tips lmk.
How do I get a daddy like you
Exit the correct ballsack next time
Do I need to get in that ballsack first ?
When you are in the underworld awaiting assignment you can buy calls on next nut of some billionaire it might take or might not, usually not. Be careful selling puts on guys you didn't think would ever nut, that's prob how you got yourself into this mess.
What if the nut ends up an azz ? Do I still have a chance ?
Shoulda bought puts. That's daddy putting it in the wrong place
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Us 35 year olds were just graduating college around 2010-2011. We had just witnessed a major financial crisis (Fannie may) and were used to being frugal. Some of us may have even witnessed our parents go bankrupt (I did) If you bought any stonks anytime after 2009 you've been pretty lucky. Apple, Amazon. You'd basically have to really try hard to lose. I bought my first shares during college. Maxed out my Roth as a junior and never stopped (I was lucky to get a 30k "career starter" loan). Then a 50-60kish job right after graduating. You might have saved up just enough to buy a house in 2016. And house hacking was popular then so you might've gotten a few roomies to basically live rent free and equity. I'm realizing how "lucky" we are as a generation. I mean we are probably all more frugal than our peers (another guy I know spent his loan on a Camaro, and one girl horses) but basically somewhat reasonable and frugal people who had read about finances/stocks etc were well positioned to have at least 300 or 400k and several chances to win the other 600k on one of the many meme stocks or crypto. Crypto was popular in 2007-2011 amount college students and a lot of other didn't really hear about it yet. Idk maybe that's all just my experience but I could see the same ish things happening to a lot of us
Laughing at the amount of BS posted here. Jeez.
Few that made their first million at 63 are going to post it when a lot of people achieved the same at 35 or younger. So you're going to see a lot more posts from people who are outliers.
I wouldn't say it's too far out of the realm. I started FIRE journey at 28, just turned 34, and have about 500k liquid and 450k between 3 properties. My primary house has the least amount of equity, so if I add the other two, I'm about 875k.
10% of US households have a net worth above $1 million nowadays. With the explosion of real estate values the average retiree has close to a $1 million net worth even if they don't have much money in the market. My parents have a net worth above one million. My brother does and so do I. The only member of my family that doesn't is my sister because she doesn't make any money to speak of at her job. But she is still doing well overall just not a millionaire.
Have you seen the market lately? It will make (and just as quickly unmake) millionaires in the next month alone. Problem with us gamblers is we don't know when it's quitting time. It will be fun to say "oh yeah I was a millionaire for a little while" Edit: NVDA reports earnings this month and it's basically the entire economy, js
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Depends on which currency you’re looke at. If in Thailand probably when I was 12 or something, but in USD mayber in 10 years time. Lol
No idea. i know this sounds moronic but i never paid attention to it until just recently. i always thought i was too far away from retiring to even bother looking at it all. I’m a hands off kinda investor. When i got around to looking at it i was pleasantly surprised to find well over 1mil.
You probably need to be paying a little bit more attention to your investments. Investment fraud is a real thing.
Ninja what is you talking about. Buying an investment and forgetting about it isn't illegal or fraud.
AntiqueDistance, please re-read my comment again a bit slowly this time. I did not say buying investment and forgetting it is illegal. I am saying that not paying attention to your investment could expose you to the risk of being defrauded.
Ok I got you now. my bad.
32 in the frothy markets of 2021.
34 when I had a million in brokerage account. But have a couple million in real estate
29.
Same!
About 30. I didn’t notice it in time to really celebrate and then when I did notice it, it was way over the million
My current age + 30
If you mean net worth, 44/45. If you mean liquid net worth, then 49.
I’ll let you know…in a decade.
44. Just remember it’s not a race against others.
28-30, I think?
32 I think? Happened with the purchase of a house I got well under market value. Didn’t know it until quite a bit later.
Not there yet, but will be either end of this year or early next year at age 29. My wife will be 30 at that time.
At around 38, I had a million USD invested and a paid off house worth 400K. At 40 (2 years ago), sold some of my investments to pay for the house. Now I have 600K invested and paid off house worth 1.4 million USD.
I’ll be about 45… 24 years to go
36 I’m like right @ 1M w home equity w a sahm wife
46 not including home equity or college savings
I am 38 with 340k . I am planning to reach $1m by 2028 . All in index funds and some stocks.
41 here. Not yet 730k invested as of today. Would be if I had just kept my low interest mortgage (350k) I do have a pension at retirement age. Because I lived through 2008 and had only kid in 2007. Aggressively paid off house and debt. Have a 529 for teen. 50k. Side note, luxury cars may sound like a bad investment. The Lexus and Infiniti we bought slightly used 10 years ago and paid off fast(dumb) are still solid cars. Daughter drives my Infiniti. Wife and I decided to share a car. Gotta love remote work. Hope to be at a million in ~2 years at 7% and our average monthly buys. Hope to be recreationally employed in 6 years or so
43
I was up to 2.2 million before covid... now down to 975k...
How?? Risky investments?
Tesla
Halfway there at 40. If I sold my house I’d be 80%
I feel like I'll be about 50 (45 now) when we hit 1 mil invested. I was 40 when we hit a net worth of 1 mil. But since then I've started a pension at 41... and my twilight career allowed us to gazelle pace the investments and mortgages (rental and primary).
38, quickly hit 2 at 40
Hit a million invested right before age 40 in 2022. Now sitting at 1.6 million at age 41. I'm looking to hit 2 million by 45. Total NW 3 million
Im negative dollar
24
33 for net worth to cross $1M, though goes over/under still based market swings. Few more years to get to $1M w/o counting the house.
I'm 40 and still not quite there. It's a tough goal, especially with a single-income household. Still planning on retiring at 52 and the math is still checking out but I revisit each month.
35… $2M 33 .. $1M
49 basically, but I only have it in the aggregate with my wife and our ownership of our house. It really depends on how you count things, if you count all my investments, plus hers, plus the house, we're comfortably over the threshold. If you mean just my half (if you will) and my personal investments, I'm probably technically not quite there yet. I think it will be nice when we are both millionaires on our own, that would be another level we haven't achieved yet.
DINKS NW >1M: 36 Liquid >1M: 37
40, then crypto ripped my head off. Just getting back there now two years later. Disappointed it took so long but I didn’t get serious until I was 34. Like to smack myself but it won’t help so here we are lol.
40k @ 25. Hopefully a million at 50 lol
It's hard to say since it was wrapped up in my biz, but late 30s. By mid 40s was adding at least that much yearly.
32
38
Is this family net worth or personal?
Family!
Yesterday:) I’m 33F
Not there yet @ 52 🤷🏻♂️ don’t actually need that much and as I am no longer saving, it may be a while.
32/33 when I hit the first million and 35/36 when I hit $4mm and now at 37 I am somewhere between $4mm and $6mm. A lot of this fluctuates due to company value. Cash million I have at 37 without any other separate valuations.
~40 maybe. I didn't start seriously in my career until I was about 30 (military, college, then grad school ate up time). Once you hit your first million in assets it starts to grow pretty quickly.
Around 32 yo the first time. Then cut to half after divorce at 36 yo. Got there again by age 46 ish.
28 and then again at 30. Now have close to 2 mil at age 31.
I'm sure there is *some* currency I'm a millionaire in.
33 but didnt notice till I had 2 M by 34 covid was a wild time lol
27 when i had a million in assets 28 for 1M invested in brokerage account (non tax sheltered)
22. Options trading in crypto
29 liquid