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Happy to review and refer for Deloitte UK
If anyone wants referal to Capgemini DM me.
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Recommendations for a Roth IRA?
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27F - parental support so I didn’t have student loans for college nor did I need to work during the school year, allowing me to fully focus on school and get a high paying job right out of college. Live in a HCOL area with multiple roommates to save on rent ($600-1200 a month for my last few places). Put money aggressively into 401k and Index Funds and have seen high returns in past couple years. Promoted very quickly in my current position. So yep, privilege, luck, and some hard work got me here and I’m super grateful to be in this position. Plan to support my future kids in this way too. Many of my friends are in a similar boat or have even higher net worths because they work as engineers in tech.
NetApp - 85k starting, now at 200k+.
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25M here. Literally all luck. Company stock 5x over the last 2 years. Also threw a huge chunk of my internship salary in eth 5 years ago, i had no idea what i was doing but it ended up working out 😁
Amazing!
Bought 3 rental properties, no personal debt except for mortgages on rentals, stock investments and lived below my means while doing all that. 1.2 million NW, just turned 30.
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Great strategy. I am looking at BRRRs and they hard to come by. So maybe this would be an easier option.
Get married, buy a home instead of rent, invest in index funds.
Same here
~900k at 29 and will hit $1M by 30. Few things:
- family helped pay for school so had only ~$25k student debt when graduated, focused on clearing it within a year
- started Roth IRA after internships in school to build investing habits early (but did not have enough to max it)
- did not go back to grad school and stayed working, which grew income pretty rapidly without opportunity cost
- lived with roommates for 3 years after school, then with SO sharing a 1 bdrm on two incomes
- max 401k and backdoor Roth each year
- autoinvest all other surplus into VTSAX each month, increasing it with raises
- bought house that went up with rest of market in the past 12 months
No crypto, RSUs, or rental properties, just regularly buying index funds and watching money grow
I use Vanguard. Index funds are VTSAX and VTIAX - monthly auto investment with I believe a 70/30 split
I’m 30 with ~600k. Best thing I did was buy a house with minimum down payment in my mid twenties and rent to friends. I stuck on the real estate train and that’s largely how I got here. I sold the rental when the market got hot last year, and sold my primary this year making over $200k profit between the two (about to buy a new one for lower cost). I did not have parental support but job wise I did well too (was making over $200k by 28). I’ll hit $1M in 3 years having a primary home, a rental home, and my job.
Wow that’s impressive. Are you a SM at 28?
Rising Star
So, based on almost everything here, the people who have hit the number had little to no school debt.
I paid off my school debt before I started real estate investing. But I also worked up to 4 jobs during college to minimize debt. Allowed me to start saving sooner
Just turned 27, current net worth is 970K and will hit a mil by the end of this year. Salary is 75K. Assets spread between primary residence and a rental, 401K, IRA and stock portfolio, and a tiny bit of crypto.
Do you manage your rental property yourself or pay someone to manage it for you?
28M. >2M due to Bitcoin.
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I expect new ATHs later this year. I will do so around $80k. After I will buy again at a lower price. I want as much BTC as possible, I fully believe it's the most superior asset to own.
My friend… 26. Joined start up after college as 120th employee. His stock valued at 3m
Parents paid for all my degrees(2 masters and mba degree on the way which I’ll pay for it). Also parents gave around 200k to start. I and my husband both work - he didn’t have any student loan either. Both earning 6 figures.
2 masters? Why didn’t like your 1st field?
Pro
Not 30 yet, but will hit those numbers within the next year.
Immigrant, single parent HH so I had $0 of parental support for college.
Worked my but off to get a full ride to college.
High-paying STEM internships for 3 semesters that allowed me to start building my emergency fund and 401k accounts.
Graduated college with no debt and savings in the bag, started dabbling in the stock market.
I viewed college as a transaction; STEM= $ and financial security. Chose the highest paying offer after graduation which happened to be Bay Area consulting.
Lived with roommates outside of the city, started putting some money into 401k and maxing company stock purchase plan (which has 3x in 5 years). Consulting travel for a couple of years (CCs, points, per diem), allowed me to save more $ because I didn’t have any expenses M-T, and I used CC points as cash back to my regular life expenses.
Fast forward to WFH times, I decided to move home. My peak earning year as a C3 has been spent in a LCOL city, saving 80-90% of my earnings.
Now maxing out retirement accounts and investing aggressively. I attribute about half of my NW to my saving and investing situation in the last 1.5 year.
29 with 600k. Immigrant who came to the country with nothing. Had just shy of 6 figures in student debt. I dedicated myself to my work agree graduation and worked on average about 80 hours a week - for better or worse. Very few weekends, holidays, etc. Not sure if it was worth it but I needed to build up a financial nest egg. I was far too conservative with my money and kept most of it in a savings account rather than investing, so didn’t help myself in that regard. Still working on getting the money deployed into the market.
Pulled myselfnby the bootstraps and worked hard. Then Daddy gave me $2Million for MY effort.
What’s FIL? Lol
33, NW is $1.2M. Had no student loans, worked for my parents throughout college in exchange for them footing the whole bill. Have always lived vastly under my means, shooting for +40% savings rate on gross income each year. As my income has gone up, that target is now closer to 50%. Invest almost entirely in index funds and big blue chip companies. My first job was $52k salary, didn’t break six figures till 4 YOE.
Maxing out 401k every year (this year is really boosting the returns), living below my means (but not to an extreme extent), and buying as much real estate as I can. Real estate has an awesome compounding effect once you get it rolling.
34, married with 1 kid and $1M net worth. I am an immigrant, came here 10 years ago with no education debt but no money as well. I was actually getting paid to do graduate school through a scholarship but I saved none of it. Most of my net worth is due to company stock & my home appreciation plus 401k. Stock is at 3x and home value is 60% up. I could have been a millionaire earlier if I have not sold my previous 2 companies stocks that are worth 10x now as well as TSLA stock I got at $200 pre split. Expanding now to real estate vacation rentals which is proving to be lucrative. I rented my primary home for the last 6 months while traveling and now getting another home to do the same. Down payments for both homes came from savings over the years. Mostly 1 income household for 9 years but wife got her accelerated cs degree that I paid for and started working a year ago which is helping in our real estate expansion. I wish I have done real estate earlier.
34F, 36M dual income two kids, NW $5M
Both immigrants from 3rd world country, no parental support. Choose stem majors at state schools and summer internships to pay off loans. ~80 k starting salary, now 10+ years of experience Never bought a new car, lived on less than one income, no brand name purchases, aggressive 401K, switched jobs few times for higher pay. Invested in real estate and middle market operating companies via local PE fund. Got a real estate license to earn additional income on weekends by purchasing homes for friends.
Parents paid for college. Inheritance for first car. Used savings bonds for mba. I only buy what I have cash for. Save 15-20% of income.
Married a woman who also saves a lot
And doesn’t care about brands or fancy things.
Also staying healthy also helps if the genes play out.
Also wife has had good jobs that pay well. Then took off 5 years to raise kids so no childcare costs.
We live on my income and will save hers as she goes back to work today actually.
Oh and when we short sold our Florida condo in 2010, it was only on my credit. We were able to build a new house and buy it with her perfect credit while the short sale worked itself off my report. Now I have perfect credit again and bought the house we live in now.
I’m 37. She’s 35.
Bought first property at 22, rented it for years and doubled my money when I sold it at 31. Probably at $1M in net worth and at that point I owned 3 other properties by living below my means and putting all savings toward down payments. But I put 25% down on all rental properties.
Net worth has grown much faster since then because of all the equity in our real estate and being able to leverage it for new house purchases and renovations.
Get leveraging!