Author Topic: THANK YOU to this community, hit over $100k, started at minimum wage  (Read 4090 times)

rdaneel0

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I want to half brag and half thank everyone here for all the incredible information and support I've gotten over the years. I've popped in and out on different accounts but I've never stopped lurking, reading, and learning from all of you.

My husband and I started with nothing and while I was always frugal I can honestly say we would not be where we are today without this forum. Our net worth just hit $126k and I can hardly believe it. To go from a place where an unexpected expense of $75 felt like a crisis, to being early 30s and having no debt and this much in investments feels absolutely phenomenal.

I also just want to encourage anyone out there who is really young or really low income or in a ton of debt OR who doesn't understand math (I can only do basic arithmetic). You can do it too. No, you won't retire at 25 like some of these crazy smart high earners here (good for you guys too, btw!) but don't you dare believe for a second that this stuff won't work for you, because it will. It requires a tighter budget when you're lower income and more time, but it can be done. Live cheap, rent if it makes sense, have roommates way after your friends have stopped, don't eat out, go without a car if at all possible, skip vacations until you can legitimately afford them, find ways to increase your income, do whatever it takes and it will pay off.

Anyway, thanks again to all of you. I'm a wee bit emotional so I'm tearing up a bit, but this community has just given me so much and I hope that I can give back in some way. I can't really offer investing advice or that type of thing, but if any low income folks or really young people starting out need support or advice on basic budget slashing, I'm here! Feel free to PM me.

Gotta go polish my crown, cuz I'm a hundred thousandaire now ;)

MonkeyJenga

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #1 on: February 18, 2018, 09:22:08 AM »
Way to go!

Dicey

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #2 on: February 18, 2018, 09:33:50 AM »
Sweet! It's amazing how it grows!

wordnerd

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #3 on: February 18, 2018, 09:51:34 AM »
Inspirational! Congratulations!

rdaneel0

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #4 on: February 18, 2018, 09:55:30 AM »
Thanks all! I keep logging back into my accounts to make sure I didn't make a mistake, haha. I've also heard the first $100k is the hardest and I'm excited to see how things add up now that we've broken that barrier.

wordnerd

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #5 on: February 18, 2018, 10:08:37 AM »
Thanks all! I keep logging back into my accounts to make sure I didn't make a mistake, haha. I've also heard the first $100k is the hardest and I'm excited to see how things add up now that we've broken that barrier.

Generally, yes, but a lot depends on the market. We've been experiencing a historic run-up in the markets, so may things may slow down for a bit (or they may not). No matter what, keep doing what you're doing, and you'll come out ahead in the long-run.

westtoeast

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #6 on: February 18, 2018, 10:26:38 AM »
Awesome job!

bwall

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #7 on: February 18, 2018, 10:38:41 AM »
Congrats on reaching that milestone!

If you keep on the way you are doing and put your money to work for you, then one day in the not so distant future your net worth will go up by that amount in three months.

swashbucklinstache

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #8 on: February 18, 2018, 11:53:27 AM »
Yay!

Historically, money invested in stocks has doubled about every 10 years in real value on average. So, today in your early thirties that is $125,000, early 40s $250,000, early 50s $500,000, early 60s a million dollars, without saving another cent!

It won't be that smooth/linear obviously. It also does assume future returns have the same long term average and that you aren't withdrawing in the meantime. But, of course, you'll save many more cents along the way, too! 

Mezzie

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #9 on: February 18, 2018, 12:06:18 PM »
Congratulations!

Candace

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #10 on: February 18, 2018, 12:27:34 PM »
Congratulations, rdaneel0! I'm excited for you and also excited that you're pumped up for yourself.

Might I suggest the Low-Income Group Journal thread on this site? It sounds like you would have wisdom to contribute there. It's at https://forum.mrmoneymustache.com/journals/low-income-group-journal/. Folks in the lower-income readership segment gather there to exchange tips, tricks, stories, and to provide support for each other.

I'm a more typical MMM reader, meaning a software engineer (FIRE'd) with the income to match. But reading that journal lately has opened my eyes to a lot of things. I wasn't ignorant of those things, but I have a much more informed perspective now.

Candace

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #11 on: February 18, 2018, 01:08:53 PM »
...reading that journal lately has opened my eyes to a lot of things. I wasn't ignorant of those things, but I have a much more informed perspective now.

:)))))   Thank you for your desire to understand the nuances, Candace!
I am humbled by my increased understanding and also by your compliment. Your "Move Toward" post made a big impression on me.

ElleFiji

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #12 on: February 18, 2018, 05:36:06 PM »
So amazing! Great work!

ThatGuy

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #13 on: February 18, 2018, 08:14:43 PM »
Congratulations, rdaneel0! I'm excited for you and also excited that you're pumped up for yourself.

Might I suggest the Low-Income Group Journal thread on this site? It sounds like you would have wisdom to contribute there. It's at https://forum.mrmoneymustache.com/journals/low-income-group-journal/. Folks in the lower-income readership segment gather there to exchange tips, tricks, stories, and to provide support for each other.

I'm a more typical MMM reader, meaning a software engineer (FIRE'd) with the income to match. But reading that journal lately has opened my eyes to a lot of things. I wasn't ignorant of those things, but I have a much more informed perspective now.

Thanks for mentioning the lower income journal, I'm going to check it out.

Step37

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #14 on: February 19, 2018, 12:02:58 AM »
Adding my congratulations for your excellent accomplishments to date. Iím sure youíll be an inspiration to many!

Gone_Hiking

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #15 on: February 19, 2018, 07:47:45 PM »
Congratulations!    This is a tremendous achievement and you are showing us all that it's not what we earn, it's what we don't spend.  I'm simply in awe.  You are an inspiration.

GreenEggs

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #16 on: February 19, 2018, 08:31:49 PM »
Way to go!!  :)

Minnowstache

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #17 on: February 19, 2018, 08:37:26 PM »
What a great inspiration. Thanks for sharing

Bicycle_B

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #18 on: February 20, 2018, 05:13:15 PM »
(claps wildly!!!!)

Anagnorisis

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #19 on: February 20, 2018, 07:34:01 PM »
Congratulations!!!

nouveauRiche

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #20 on: February 21, 2018, 12:53:25 PM »
This is awesome!  Congrats and rock on!

aceyou

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #21 on: February 21, 2018, 01:30:33 PM »
So impressed.  Well done. 

meghan88

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #22 on: February 22, 2018, 12:15:10 PM »
This is HUGE.  Big congrats.  You must, and should, be very proud.

arob54600

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #23 on: February 22, 2018, 02:07:20 PM »
Yay!!!!!! Congrats to you!!!!

Finances_With_Purpose

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #24 on: February 22, 2018, 11:51:56 PM »
Congratulations!  What a great story.  Far more encouraging than the I-make-200k-a-year-and-am-retired-five-years-later variety. 

Now, you have a mission: go share with others!!  Not your net worth, necessarily, or your details, but your financial wisdom - it's your duty to pass it along.  You have a better window into those who come from your type of background than many, many posters here. 

Lucy_83

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #25 on: February 23, 2018, 12:44:16 AM »
This is so inspirational! Congratulations and thanks for sharing!

monstermonster

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #26 on: February 23, 2018, 07:28:03 AM »
Saw you on the low-income group journal. CONFREAKINGRATS!

jinga nation

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #27 on: February 23, 2018, 08:51:47 AM »
@rdaneel0 I want to half congratulate you for hitting 6 figures, feels great doesn't it? And half encourage you to stay the course towards the 2 comma club.
Take a half bow for the half humble brag.

Rosy

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #28 on: February 24, 2018, 07:24:39 AM »
Mindblowingly awesome!!! CONGRATULATIONS!

Good luck and may the wind be at your back as you stash the next $100K! You are definitely an inspiration! It can be done!

Brother Esau

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #29 on: February 24, 2018, 07:29:53 AM »
Congrats! Yes, the first $100k is the hardest. Compound interest is a beautiful thing!

rdaneel0

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #30 on: February 25, 2018, 07:47:04 PM »
Gahh, thanks for all these great responses!!! I'm so psyched to race to $200k now :) I think I'll do an update to my journal on the most important things that got us to this point, for anyone who is interested. :)
« Last Edit: February 25, 2018, 07:50:11 PM by rdaneel0 »

rdaneel0

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #31 on: February 25, 2018, 08:16:15 PM »
@rdaneel0 I want to half congratulate you for hitting 6 figures, feels great doesn't it? And half encourage you to stay the course towards the 2 comma club.
Take a half bow for the half humble brag.

Hahaha, well played.



CutTheFat

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #32 on: February 27, 2018, 06:59:14 AM »
I love this!  We are also not high earners and still finding places where we can cut and add to the stache!
« Last Edit: February 28, 2018, 07:08:46 PM by CutTheFat »

tryingtosave

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #33 on: February 28, 2018, 09:32:00 AM »
congrats, thanks for sharing with everyone that this can be done

acroy

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #34 on: February 28, 2018, 09:47:03 AM »
BADASSITY!!!

rementis

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #35 on: March 01, 2018, 02:29:29 PM »
This is a great story, and a high caliber achievement.
You should be proud indeed!

FamilyGuy

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #36 on: March 06, 2018, 09:45:33 AM »
Congratulations. I'm racing towards saving 100k in accounts excluding 401k.

Zola.

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #37 on: March 06, 2018, 10:24:13 AM »
I want to half brag and half thank everyone here for all the incredible information and support I've gotten over the years. I've popped in and out on different accounts but I've never stopped lurking, reading, and learning from all of you.

My husband and I started with nothing and while I was always frugal I can honestly say we would not be where we are today without this forum. Our net worth just hit $126k and I can hardly believe it. To go from a place where an unexpected expense of $75 felt like a crisis, to being early 30s and having no debt and this much in investments feels absolutely phenomenal.

I also just want to encourage anyone out there who is really young or really low income or in a ton of debt OR who doesn't understand math (I can only do basic arithmetic). You can do it too. No, you won't retire at 25 like some of these crazy smart high earners here (good for you guys too, btw!) but don't you dare believe for a second that this stuff won't work for you, because it will. It requires a tighter budget when you're lower income and more time, but it can be done. Live cheap, rent if it makes sense, have roommates way after your friends have stopped, don't eat out, go without a car if at all possible, skip vacations until you can legitimately afford them, find ways to increase your income, do whatever it takes and it will pay off.

Anyway, thanks again to all of you. I'm a wee bit emotional so I'm tearing up a bit, but this community has just given me so much and I hope that I can give back in some way. I can't really offer investing advice or that type of thing, but if any low income folks or really young people starting out need support or advice on basic budget slashing, I'm here! Feel free to PM me.

Gotta go polish my crown, cuz I'm a hundred thousandaire now ;)


Great work

Tell us what you did that changed things so significantly?

How did you budget change?
Where did you invest?

It may help others, even if they pick up some small tips

tarheeldan

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Re: THANK YOU to this community, hit over $100k, started at minimum wage
« Reply #38 on: March 06, 2018, 10:35:33 AM »
My husband and I started with nothing and while I was always frugal I can honestly say we would not be where we are today without this forum. Our net worth just hit $126k and I can hardly believe it. To go from a place where an unexpected expense of $75 felt like a crisis, to being early 30s and having no debt and this much in investments feels absolutely phenomenal.

Congratulations!!!! So awesome!