I hit my first milestone of 100k 79 weeks ago. Today it doubled! I officially crossed the 200k mark. 5 years to 100k, 1.5 more years to 200k. Let's see how long it takes to get to my first million. Hoping within 10 years.

likeuplifting
Posting as :
works at
You are currently posting as works at

Yes it goes faster and faster. Took me about the same time to get to 100k invested as it did for me to get from there to 500k invested, which I hit a few months ago. Forecasted to hit 1m invested in 2.5 years. You got this!!

like

That’s great - every year was different, but generally increased each year. Early on probably only 25k or so and that was about 30% of comp, now I’m able to invest well about 150kk a year which has sped things up.

like

@OP: Thanks for sharing and keep up the good work! The investment snowball -> avalanche is real.

I came from a lower-middle class family and was the first to graduate college. I changed my strategy after about 5 years of active trading to follow Warren Buffet's advice that most investors should focus on index fund investing.

Using this strategy, and consistently contributing what I could afford every month, I had my first $100k in my 30s and reached $1million invested at 49 years old.

My portfolio doubled to $2million 4 years later, and is now hovering just under $3million as I prepare to retire early.

Specific ETF/Mutual fund holdings vary by account (IRA/401k/brokerage) and are primarily S&P500 (55% IVV &VOO) and 40% Nasdaq (QQQ) and 5% other stuff.

like

Similar story, age and #s as Director 1. Thinking of retiring early but nervous about longevity risk. Both my parents are alive at 90 y/o and in good health. So I’ll stick it out a few more years.

like

Congrats!! I think there’s a quote from Warren Buffet, where his advice to people is “get your hands on 100k as fast as you possibly can”. Inflation adjusted from when that quote was given, it’s around 200k now.

like

Congratulations! Stick with it and you'll be in great shape.

like

Well done!

like

What are you investing in?

My brokerage is SWISX and SWPPX. My 401k is a mix of things.

Related Posts

Found on LinkedIn. Nice kicks.

Post Photo
likefunny

Biglaw first year associates, what’s your favorite thing about your job (beside the paychecks)?

like

I want to buy a new home and then sell my current home after we are moved out. Current home is a VA loan, is there any way to buy the second house on a VA loan?

like

Hi. Looking for a Walmart corporate referral. Please comment or dm. Thank you!

like

Likes to open DMs please!

Post Photo
likeupliftinghelpful

Obligatory financial info post. 1) size of firm, 2) billable requirements, 3) salary, 4) bonus, 5) quality of life, 6) debt, and and 7) family/married/single. Go!

like

Reviewed a student book as constructive as possible.What I liked first about it then pointed out what needs work. Kid replied by criticizing my feedback in a rude condescending manner. What do i say?

like

3.5 years out of school, 2400 billable hours last year in TRS and just got promoted. what kind of year end compensation should I be expecting? Bonus and new salary

like

Has it ever happened to you that you meet someone and they say they want a “LTR” however they don’t even put the effort to say hi or ask you things?

I have 5 years of experience in my industry in Chicago. (Engineering Firms working with Electrical Utilities on Substations)
I started as a CAD Drafter and worked my way up to a P&C Designer.
Is 63200 a good salary for someone with my experience?

I want to also say I’m back in school going after my EE.

like

Thoughts on leaving PA primarily due to the metrics based culture (utilization, dtc, use of X digital tool, revenue, margin, etc). I find this aspect of PA stressful and exhausting but not sure if this is something you just get used to. Currently a manager and seems like the metrics just change over time / don’t get easier.

like
like

Juniors... When will you figure out that some patience and team loyalty advances your career more quickly than chasing every shiny thing?

like

Saw a new LikedIn headline that might take the cake. Someone, who I don’t know, tried to connect with me, and his title is “Ambassador for Christ”. Little does he know... 😈

likefunnyhelpful

Does anyone know which Publicis office is going to manage the recently won Beiersdorf account?

like

Offered great position in writing (by email) but, as the company is on a hiring freeze, can’t yet sign contract. Anyone else in similar position? Optimistic about hiring freezes being lifted later?

like

I’ve been trying to get into The Walt Disney Company for years and can’t seem to make any progress. I’ve tried introducing myself and connecting with recruiters on LinkedIn and of course, applying to jobs on their site. Would anyone happen to have any words of advice for someone trying to transition from the ad industry into the entertainment industry?

like

BCG vs Deloitte. Could you comment on the work life balance differences between the two in toronto / Canada.

Additional Posts in FIRE Financial Independence Retire Early

Trying to help my retired dad - When I google for what to do after retirement, only retirement planning related things shows up. My dad has been a workaholic and hasn’t developed many hobbies he could pursue. I was wondering how I could help him stay slightly occupied if not busy. Anyone here experienced this with your parents or yourself? How did you navigate this?

like

Realized my savings account interest rate is now higher than my mortgage rate. No way I pay that off early. Eat your heart out Dave.

likeupliftingfunny

Best options (companies that provide) term life insurance outside of work? Please advise - looking to get this done this week for wife and I

like

For those of you who made your first million in net worth, what did you do next?

like

Given crazy market returns recently, do you still expect the market to rise at 10% over the next 30 years?

like

Can someone help me with this? I had a low utilization since pandemic, I.e., ~sub 5%, but never missed any payments. Would credit score be impacted if only one line of credit with a low utilization?

Too few accounts currently paid as agreed
FICO®

Scores consider the number of accounts that are paid as agreed. Your score was impacted because the number of these accounts is too low, or because you've missed payments recently on some of your accounts.

like

Out of curiosity, do you think most ppl max out 401k (19.5k) and Roth IRA (6k) annually?

like

I broke through the wall in 2020 and feel like I blinked and it is 2022. I have been saving something close to 75% of my take home and dumping into ETFs. I feel like I want to branch out into real-estate but never lived anywhere more that 3 years. What would you do? I have cash to put a large down payment to avoid the high rates but am scared I have no roots and will move in another few years.

Post Photo
likeupliftingfunny

Do you think house prices in NJ will go down/up? Thinking of buying a house in 9-12 months and saving. What % is a good down payment? (First time home buyer here)

like

Anyone start later in life? About to turn 32 and my retirement savings are sad.

like

Home reno financing question. Have a big project coming up in the $120-150k range. Funding sources are:
- 90k from a heloc around prime
- 10k from a credit card that offers promo checks at 2-3% for 12-18 months
- 375k in a brokerage
- 5-6k per month cash that I can put towards the project, loans, or brokerage

I don't want to stop funding the brokerage because my FIRE plan is less numbers based than "hoard like dragon until it's enough" but maybe I should... How would you optimize?

like

Can someone explain to me what a back door IRA is and how it works? I’m making over the income limit to contribute to any standard IRA and am maxing out my 401 K but no company matching program so I’m wondering whether I should be doing more

like

What’s a good, practical tax book to read for someone who knows nothing about taxes? I feel like I should familiarize myself with them but don’t know where to start/find the topic very overwhelming and dense even as a finance attorney. Welcome to other beginning finance book suggestions too! (Already read Kiyosaki and Ramsey)

like

Is an IPO in anyone’s FIRE strategy? Maybe this is specific to the Bay Area, but it doesn’t seem that unrealistic to negotiate enough equity to make $1.5 mill off an IPO. Or maybe I’m dreaming 😂

like

Hi! Pretty new to this concept, and really early within my career (only 3 months in). Currently on my company’s 401k plan, contributing well beyond the minimum to receive a match, and maxing the amount I can put in right now (25%). Dabbled a bit in options and stocks in general. Any advice, guides, or starting places you would give someone in my shoes? Thank you in advance!

like

I consolidated grad loans in ‘15, kept federal separate from private (w SoFi @6.75%). Can I refinance w SoFi or w Earnest? Should I combine the federal and lose the protections for better %?

Does anyone know how to get funds that was in a 401k account years ago into your current IRA?

like

How much of a nest egg would you expect a couple to collectively need in order to retire at 40 and live relatively comfortable (not lavish)?

likefunny

What are the best cities to live in for FIRE?

like

Hey all! I’m 30 years old. About to close on a house with a 5.75% fixed 30 yr mortgage. If you were me and your goal was to maximize your net worth by retirement, would you put a few thousand dollars extra into paying down the house faster or invest that extra money in the market? The 5.75% doesn’t feel that low but also not crazy high so I’m torn. Thoughts? 🙏

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal