What do people usually do after hitting the 100k net worth?

likesmartupliftinghelpful
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I mean it’s a pretty big accomplishment when you consider the financial state of most US households. So maybe order that nicer whiskey at dinner to celebrate, just this once.

Then, you just kind of put your head down and keep going.

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That's up to you, really. Some people blow all of it, others try to see how much they can make that number go up. I'd probably just throw a nice chunk of it into a savings account.

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Get back to work? It’s not much

likesmart

Yep- pay off a student loan, go on that vacation they’ve never been able to take before… actually look at their credit card bill

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Try to hit 200k

likesmart

Tax evasion, usually.

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likefunnysmart

I recently got to my 1st 100k in the bank. I'm a single mom with no sound person giving me advice. Everyone around me over spends, including me. I have no idea what to do. I feel like I should be doing something.

likeupliftingsmart

Like others have said, max out 401k and Roth IRA each year, then high-yield savings and invest in index funds or other stocks you prefer. Or something a bit more complex like real estate.

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Hopefully you don't have it just sitting in your bank, you'll be losing money with inflation. Open a High Yield Savings Account and look into stock investments.

likesmart

Burrito Supreme Combo. Keep the change.

likefunny

Did you mean salary or actual net worth? 100k net worth is not a lot.

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Same thing for salary 😔

funny

Travel to Greece

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Jajajajajaaj laughing because that’s literally what I’m doing after I got my 6 figures

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Vegas baby!

likefunny

Principal Architect 1 is correct. If you are stating $100k in the bank then as the other commentators said invest, kill your debt, and keep working.

You’ll need at least $100k per year at retirement to live comfortably. And if you are planning on retiring at 67, that's at least $1M (accounting for inflation, durationof life post retirement and whetheryou want to leave a legacy).

likehelpful

We aim for a million. Then ten million and it goes on because good healthcare or even good education in the US needs money. There is nothing called as “dreams accomplished”.

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Keep working

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Get a financial planner, invest, get aggressive with your 401k, and treat yo self!

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I've seen people share it, consider the waterfall approach to saving and investing. Think about your financial goals and start working towards those. Also, check out the financial bowl. We don't know your specific situation and most of us are not licensed financial advisors. Great job and keep going!

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Fly to Miami for two weeks of spring break, and then get back to work and get to a quarter million dollars

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Nothing you will think about how do you reach to 1 million

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I would wake up the next day and go back to work, that's just a drop in the bucket.

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Live life as normal. Save more, invest some and take a break to enjoy your new milestone. That’s what I did.

likehelpful

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