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Need 75K Hyatt Points. DM if interested.
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Additional Posts in FIRE Financial Independence Retire Early
Anyone follow Millennial Revolution?
Anybody have a mortgage provider they like?
Need 75K Hyatt Points. DM if interested.
How much internet allowance wipro gives?
Anyone follow Millennial Revolution?
Mentor
Saved every week for 10 years. Have more than a million now. Easy as that
8 years to get from Day 1 post graduation ($40k in debt) to $100,000; then 6 years to get from $100,000 to $1M
Mentor
Took my wife and I about 5 years to go from 100k to 1m. Then only 2 years to go from 1m to 2m. That’s part gains and part aggressive savings. We basically haven’t changed our spending habits so raises and bonuses just feed our investments.
About 4 years total. Story: income in early years was more sporadic and I was aggressively paying down family debt + my student loans (family debt still finishing up now but student loans were done in Yr6/Yr7) Went from 100k-1M in roughly Yr6-Yr10, income trajectory looked like the below with savings rate accelerating in Yr7+, nothing abnormal on asset allocation just SPY/VOO:
Yr1 - 105k
Yr2 - 100k
Yr3 - 95k
Yr4 - 160k
Yr5 - 100k
Yr6 - 125k
Yr7 - 170k
Yr8 - 200k
Yr9 - 280k
Yr10 - 350k
Enthusiast
What is the story behind the income spike then drop ($160 to $100?)
Mentor
My biggest bump came when I saved all of a large raise on top of an already aggressive savings rate. I did the same thing again a year later.
This coincided with 2009 to 2012, a good time to buy.
Then we gradually let the belt out a little bit at a time over the years. Voila, 10+ years of improving life standards. And still a great savings rate.
Took me about 5.5 years