Our first 100K!!

[Valvore]

I am bursting from the seams! I can't believe we finally hit our first 100K. That's for everything, including cash. Next goal is to hit 100K exclusively in retirement accounts.

This first 100K took 3.5 years and in that time we also paid off 21K of credit card and 22K of student loans. My first 401k contribution was 9/18/2015.

Cash Savings - $ 5,410.00
 401k/457b - $ 49,880.00
 401a - $ 3,630.00
My IRA - $ 17,230.00
PEHP -  $ 1,225.00
 HSA - $ 9,150.00
 DH IRA - $ 13,475.00
 TOTAL - $100,000!!!

I know we might use our cash savings or our HSA but getting to that number is such a mental win. I want to tell everyone but I don't think that will go over well with friends and coworkers who have virtually zero savings.

[Candace]

Congratulations! A fantastic achievement. Enjoy!

[ender]

Onwards and upwards!

I remember that same feeling. Some amount of "wait this random number in Mint shows me our net worth is over $100k? wooooahhhh!" and some amount of "meh, just a number" because of weird electronic wealth is.

[TexasRunner]

AWESOME!  Now the compounding really starts to take affect...

Great spot to be in!

[jps]

Congratulations on your YUUUUGE milestone :)

They always say that the first 100k is the hardest.

[Valvore]

Thanks everyone.

Forgot to mention, we hit this milestone about 5 months early. I always set tough goal, but we have over achieved them every year. In January I ran the numbers and we were suppose to hit 100K in August, but we did it in March instead. Mostly because of a bigger than anticipated tax refund.

[DadJokes]

AWESOME!  Now the compounding really starts to take affect...

Great spot to be in!

Compounding may be the most fun thing in the world to watch. I don't have close to 100k yet (29k investments, 68k total), but I get a little adrenaline rush when I check my accounts and see that they went up in value, even if nothing has been added to them.

[jojoguy]

Excellent! Right behind you at 97K! The markets are taking a beating today though, but we will weather the storm.

[Mississippi Mudstache]

Nice work! It took us longer than it should have to get from 100K to 200K, because we sold one house at a $25,000 loss, and then had to pull out $30,000 for a down payment on another house. But we are currently cruising from 200K to 300K. Keep it up!

[Suelavie]

Bravo!  We are not there yet for our part, but I can see the huge difference in interest increases compared to the smaller amounts.  It is going fast!  Now, you are heading to the 200k!

[Valvore]

Thanks guys!

Anyone not at 100K yet, it comes faster than you think. I felt like it took forever to go from 0 to 10, and even longer from 10 to 50. But as you learn more about FI and stay motivated. Your savings rate goes up!

[SwordGuy]

Congrats!  You're on your way!

[Valvore]

UPDATE: Currently @ 130K.

Big bump came when I decided to include my required pension contributions. I plan to take it as a lump sum my first year of retirement. It's currently at 10K. We also significantly upped my husbands 401K contributions.

Those changes plus gains means that I went from 100K to 130K in just 4 months! If we keep on this pace, we should hit 160K by the end of this year.

[Treedream]

Wow, awesome progress Valvore! Super encouraging to see as someone just starting out. Good luck with the next 100K.

[soccerluvof4]

Congratulations! what is your next goal you have set for yourself?

[golfreak12]

UPDATE: Currently @ 130K.

Big bump came when I decided to include my required pension contributions. I plan to take it as a lump sum my first year of retirement. It's currently at 10K. We also significantly upped my husbands 401K contributions.

Those changes plus gains means that I went from 100K to 130K in just 4 months! If we keep on this pace, we should hit 160K by the end of this year.

Sweet !!!!

[Valvore]

Thanks everyone! I am pumped.

Congratulations! what is your next goal you have set for yourself?

I just joined the "Race from 100k to 250k" thread. But honestly that seems like such a big jump expecially because the 100K took so longggg. I only need 425K for FIRE too. I would absolutely LOVE to hit 175K by the end of the year, but realistic goal is 150K. Stretch goal is 160K.

Wow, awesome progress Valvore! Super encouraging to see as someone just starting out. Good luck with the next 100K.

Keep at it. I started this ~4 years ago and felt like I was treading water for most of that time. Its only in the past 7-8 months that I feel like I'm making REAL progress.

[Civex]

Thanks everyone! I am pumped.

Congratulations! what is your next goal you have set for yourself?

I just joined the "Race from 100k to 250k" thread. But honestly that seems like such a big jump expecially because the 100K took so longggg. I only need 425K for FIRE too. I would absolutely LOVE to hit 175K by the end of the year, but realistic goal is 150K. Stretch goal is 160K.

Congratulations! The first 100k is definitely the hardest!

Wow, awesome progress Valvore! Super encouraging to see as someone just starting out. Good luck with the next 100K.

Keep at it. I started this ~4 years ago and felt like I was treading water for most of that time. Its only in the past 7-8 months that I feel like I'm making REAL progress.

[Valvore]

I can't believe it. But only 1 year and 3 months later, I have my next 100K! It is definitely true that the first 100K is the hardest. This one went by much quicker and I'm happy to say I have 200K!!

[Trifle]

Congrats!!  Here's where the fun starts and it goes faster and faster!

[okisok]

This is heartening. I'm *so close* to the $100k mark, but it feels like it will never quite get there.

[OtherJen]

This is heartening. I'm *so close* to the $100k mark, but it feels like it will never quite get there.

You will! It shocked the hell out of us when we realized that we were there late last year. Everyone says the first $100k is the hardest. I hope so!

[ItsALongStory]

I can't believe it. But only 1 year and 3 months later, I have my next 100K! It is definitely true that the first 100K is the hardest. This one went by much quicker and I'm happy to say I have 200K!!

Congrats, they say that 300-350k is halfway to a cool million as far as timeline is concerned so you're definitely well on your way.

[DadJokes]

I can't believe it. But only 1 year and 3 months later, I have my next 100K! It is definitely true that the first 100K is the hardest. This one went by much quicker and I'm happy to say I have 200K!!

Congrats, they say that 300-350k is halfway to a cool million as far as timeline is concerned so you're definitely well on your way.

I hadn't actually thought of doing the math on that before. If your growth rate is steady, then the halfway point would be:

$362k if you never increased your contributions
$349k if you increased contributions by 3% annually
$340k if you increased contributions by 5% annually

[Stone11]

I can't believe it. But only 1 year and 3 months later, I have my next 100K! It is definitely true that the first 100K is the hardest. This one went by much quicker and I'm happy to say I have 200K!!

Congrats, they say that 300-350k is halfway to a cool million as far as timeline is concerned so you're definitely well on your way.

I hadn't actually thought of doing the math on that before. If your growth rate is steady, then the halfway point would be:

$362k if you never increased your contributions
$349k if you increased contributions by 3% annually
$340k if you increased contributions by 5% annually

https://forum.mrmoneymustache.com/ask-a-mustachian/looking-for-a-tool-to-compare-of-stasch-to-time-to-fi/

[StachingforLife]

That is absolutely fantastic!!!!!!! Congratulations!!!!!!

[jinga nation]

I can't believe it. But only 1 year and 3 months later, I have my next 100K! It is definitely true that the first 100K is the hardest. This one went by much quicker and I'm happy to say I have 200K!!

Definitely. Onward and upward, stay the course, don't let the ill thoughts sway you from your goal.