Author Topic: 100k networth by year end :)  (Read 625 times)

Lis

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100k networth by year end :)
« on: March 09, 2017, 02:19:43 PM »
I will hit a net worth of $100k by the end of the year.

I'm 27 with just under 5 years professional years. After graduating college, I had -$26k to my name ($20k student loan, $6k car loan from my grandmother - it was more but she forgave it). I was fortunate that my parents allowed me to live with them for about a year. I didn't figure out this whole investing thing until mid-2013, but even before I discovered MMM I hated debt. Every extra penny went to the car debt first (my grandmother eventually forgave the rest, proud of what I was doing but wanting me to put that extra money I was giving her towards my student loans). I started my second job in 2013 which offered a 401k, and I put in the bare minimum to get the match. I started a Roth IRA with Vanguard in 2014, paid off my student loan in 2015, and bought my co-op 2016. I maxed out my Roth IRA in 2016 (after taking money out of it to help purchase the co-op, not the brightest thing but noob didn't know how many extra expenses there would be), and came very close to maxing out my 401k. In 2017, I have plans for maxing out my 401k by year end and my Roth IRA by September. Right now my income perfectly covers my investments and necessary purchases (though I daresay I could tighten the belt a bit in some categories), but I'm excited to think that in the next year or too I'll have more than $23,500 to invest.

I'm an extremely hard worker, but I have to acknowledge my luck and privilege. I started out in the hole, but no where near as much debt as some of my peers. My parents refused rent, and even though I still did chores and picked up the occasional grocery tab, my expenses my first year were extremely low. I managed to find a city like (and city paying) job outside of the city, so I'm able to live in a not so ridiculously HCOL area (still HCOL, but not as bad).

Some of you hit 100k way earlier. Many of you have faced much more difficult odds. I'm nothing special here, but I'm still very proud of myself. One friend (in her mid 30s) claims that 401ks are a waste of money. My boss has admitted to having little savings outside of the company 401k. One coworker constantly laments about the price of groceries, yet calls the furrier (sp?) to... fur her fur coat every six months.

Mustachianism to me is about finding a quality of life that you're happy with at the lowest financial cost. Some of you would see my budget and scoff, and that's okay. Some of you could comment "well, you'd be at $150k if you did x..." and that's okay too. I've found my balance and happiness, and I think that's the most badass thing you could do.

dividendman

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Re: 100k networth by year end :)
« Reply #1 on: March 09, 2017, 03:19:10 PM »
The first 100k is the hardest!

OthalaFehu

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Re: 100k networth by year end :)
« Reply #2 on: March 09, 2017, 08:38:13 PM »
Thumbs up Lis, 100 to 200 will seem way easier.
One Day a Rains will come and wash away all you see before you, through Othala kept the true. https://othalafehu.wordpress.com

Full Beard

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Re: 100k networth by year end :)
« Reply #3 on: March 13, 2017, 06:43:37 PM »
Way to go Lis!
If you don't like where you are, move.  You are not a tree.