When did everyone reach their first million in net worth?
I’m currently at 100k at 25

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

My friend made 300k by 24, I got a lot of respect for him. Ppl from school don’t think much of him because he got kicked out for cheating, but he’s a hustler and works hard. I’m going to be 25 next month and will be at 140k (cash, stocks, Roth)

like

I’m at about the same as you - nice!

If you add in my primary residence I’m there at 35. Excluding my primary residence, still grinding.

like

Why wouldn’t one count primary residence in NW? What else do others exclude?

30 or 31? I wasn’t much higher than you at 25. Owning property and a rental certainly helped. Great market returns over last couple years have helped. Crypto has helped.

Then skyrocketing real estate has very much Helped. It does grow fast.

like

30-ish. Don’t really remember. Crossed $2M a lot faster - thanks compounding growth

like

32, about 80k at 25 and paid for an MBA in there out of pocket.

like

Lol no way

At 31, but it was a windfall (was at about your current nw at 30)

like

Around 31. You’re doing great, OP. They key is really keeping lifestyle creep to a minimum as your income rises (which is easy to say but hard for many people to have the discipline to do). If you do that, you will really see your savings skyrocket as you start to move up the ladder. It won’t be linear.

like

Impressive? Any goal to let off the brakes after a certain age or net worth?

Is it weird that I don’t remember? Somewhere between 32-35.

Yup. I’m a partner now, so the second million came significantly faster than the first.

31/32

At 34 and then the second million 18 months later.

No magic. Just the weirdness of the stock market last 18 months. Was able to invest quite a bit after the market drop in Feb/Mar 2020. But for the most part I think the first million is the hardest. Also spouse’s comp (FAANG) helped.

like

Related Posts

I worked on a project with Leap by McKinsey and enjoyed it. It's basically planning and launching digital projects from 0 to 1(strategy to MVP).
What are the best consulting companies doing this type of work?

like

Does all companies present in World Trade Centre BLR are genuine?

like

Any comments monthly in hand ? no tax savings.

Post Photo

Hi Fishers

How to change my bank account detail in TCS. Now i m having HDFC bank for salary account. I want to change it to ICICI.

like

Has anyone out there worked for a cruise line before? what was it like?

like
like

Hello Fishes , With YOE: 8 I have got two opportunities as :


Senior Consultant -
Capgemini - 17 LPA


Senior Associate - Cognizant - 16 LPA



can anyone please guide which one will be better in terms of job security ,onsite opportunity, WorkLifeBalance ,Yearly hike Etc. ?

likeuplifting

Hi all NICE interactive solutions is hiring for various positions. Anyone interested DM me.

Post Photo

How safe is Gurgaon compared to Bangalore for boys ?

Also, which is a cheaper city?

like

Will Amex provide cab facilities to people living in Noida now?

like

Gotta love the Pope

like

Quite opposite.. but has anyone been able to move out of Pharma? Worried that I'm getting stuck and recruiters only reach out for pharma accounts..

likehelpful

"Why do we need diversity? We need the broadest amount of people saying 'that could be me.' Make them white. I don't want to keep having this conversation." - casting global TV spots

like

I’m curious what people are making as BDMs in Automotive. I’m personally in the automotive industry responsible for finding new business opportunities in the semiconductor realm.

like

Not a Deloitte partner, but I think quite cool for her.

Post Photo
like

Hi
I am having around 3.6 yoe in mainframe.
I am looking forward to move to aws cloud.
Can anyone please suggest the starting steps?
Thanks in advance for your help.

like

Looking for a freelance account exec for a possible 6 month gig. Car experience a must, 10+yrs a must, strong agency experience & references a must. Please connect or sends names of those you’d hire!

Anyone in employment tax? How's that field like? Interesting? What about credits and incentives? TIA

like
like

Additional Posts in FIRE Financial Independence Retire Early

Always been a fan of FIRE and reading about it has definitely helped my finances but I can’t help but wonder if the movement is more about lifestyle change than early retirement.

After you achieve FI,you basically have to maintain the lifestyle that got you there.

What if you want to go on a lavish vacation or buy that flatscreen TV? Are you supposed to do away with material goods entirely? I suppose you could keep working for discretionary $ and live off interest but then you’re not retired.

like

Friendly reminder: IRA contribution limit increased from $5500 to $6000 in 2019. Make sure to update those automatic contribution amounts!

likesmart

I’m buying a home! It’s a little tight but here is my monthly cost breakdown ($9k/mo take home):

$3k mortgage
$500 for 15 months for new floors
$210 for 12 months for roof repairs
$300 groceries ($75/week)
$100 eating out
$150 estimated utilities
= $4260

Leftover = $4740

Investment Allocation:
$2k in HYSA
$2.2k in VTI
$540 leftover just in case

Is this a good budget to stick to? Also I may be able to subtract $800-$900 because I’m planning on renting out a room!

like

What are the easiest / least time consuming 2nd careers? Ideally something where you can make your own hours or don’t demand more than 10-20 hours a week

like

How do you feel about eviction moratoriums? Do you think they help or hurt access to affordable housing? Asking here because I suspect many of you own investment real estate.

like

I have 60k in the bank and have no idea what to do with it. Ik it’s a sin to have that much in an account and not making it work for me. I’m not saving for any big purchases either. I’m not too savvy when it comes to investing and really want to strengthen my financial/investing understandings. I plan on sitting down with an advisor. Any advice?

like

When leaving a company, what do you do with your 401k and ESPP accounts?

like

Do you spread your investments in ETF products that track the same index? IE VOO and SPLG.

Was just thinking the other night if you drop it all (or a large part) in VOO and they have some unheard of scandal that somehow slipped by audit your path to FIRE could be hurting.

Am I overthinking here?

like

For those who rigorously budget to achieve FIRE, can y’all give me some tips that work for you? We’ve tried to do the tracking every item we buy thing but we’ve never been able to honestly track every purchase for a month. It feels like too much work with 2 kids! Any other tips and tricks that work for you? In general we automate savings first and kind of reflect on the bills at end of month and note where to tighten for the following month but I feel like we need more discipline

like

Can someone explain the Roth conversion ladder to me like I am idiot? Which is what I am 😎.

HHI over $350k and can’t do backdoor Roth because I have tIRAs…

like

How much is your emergency fund? My husband and I are DINKS with 5K monthly expenses but (because we are very privileged) live near family who could help us if something happened. We only keep 5K in our emergency fund because I want to invest as much as I can in index funds.

like

Any investment property owners here? How did u land the decision to take the plunge? I know diversification is important, but why didn’t h instead go the ETF/stocks route?

like

Best way to forecast net worth/future growth?

like

newbie here for investing. where should i be most focused.
- US Stocks
- Foreign Developed stocks
- Emerging market stocks
- Dividend growth stocks
- Municipal bonds
- Cash

like

Do I have too much cash ($35,000) in my high yield savings account? No immediate plans to buy a house (but could be an option). Rent is $2100 and have no other debt or month financial obligations.

like

I hit my FIRE number today at 50yo!!!! Had to tell somebody.

likeuplifting

How do you balance being smart with money verses wants and desires? I'm thinking about buying a new Supra but the fiscally conservative part of me balks at spending money. I can afford it and would really enjoy it.

like

new to investing. have done some research - reading blogs and a few books on investing. I still have the question of do individuals that take the index fund route… do you all purchase the same funds for different accounts? Example, would you invest in VTSAX across a brokerage and roth account, or would you take a different approach for each account?

like

Can I open a new roth ira without directing contributing to it, even tho I make over the income threshold? I need to close my current one because of the residency requirement and also rollover my roth 401k

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

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

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