1M in investments at 30

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seriously?

What?

I don't understand how anyone smart enough to accrue 1m by 30 is dumb enough to crowd surf investment advice on a mommy forum.

Because there is no linear relationship. You think Musk, the billionaire, is that much smarter than a millionaire? He's smart, certainly, but drive and sheer luck play too, and those cannot be measured on an intelligence scale.

If you have 1M by 30, you are not automatically smarter than someone else, but maybe you did go into a more lucrative field, or invested smartly, or inherited.

Also, this isn't just a mommy forum. This is DCUM, where the mommies are educated and wealthy (which is why OP posted here and not Babycenter). Does it make you feel better, PP, that I'm writing this as a mommy in the 1% percent?

[Anonymous]

Congrats on the family money, OP! Your first move should be to reallocate that inheritance so that it aligns with your time horizon instead of your parents or grandparents. Your second move should be to find a reliable financial advisor. You don’t want to get too far ahead of your skis, OP. Most people sporting significant new money end up squandering the majority of it before they learn discipline and control.

[Anonymous]

Anonymous wrote:Congrats on the family money, OP! Your first move should be to reallocate that inheritance so that it aligns with your time horizon instead of your parents or grandparents. Your second move should be to find a reliable financial advisor. You don’t want to get too far ahead of your skis, OP. Most people sporting significant new money end up squandering the majority of it before they learn discipline and control.

You must be joking. This is only $1m.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Congrats on the family money, OP! Your first move should be to reallocate that inheritance so that it aligns with your time horizon instead of your parents or grandparents. Your second move should be to find a reliable financial advisor. You don’t want to get too far ahead of your skis, OP. Most people sporting significant new money end up squandering the majority of it before they learn discipline and control.

You must be joking. This is only $1m.

It’s a high class family gift at the outer rim. Think Rockville or even Frederick.

[Anonymous]

Anonymous wrote:Continue to save and invest. Don't spend it.

+1 you’re on the right track but still a long way to go. Make sure you’re 100% in equities.

[Anonymous]

Anonymous wrote:Congrats on the family money, OP! Your first move should be to reallocate that inheritance so that it aligns with your time horizon instead of your parents or grandparents. Your second move should be to find a reliable financial advisor. You don’t want to get too far ahead of your skis, OP. Most people sporting significant new money end up squandering the majority of it before they learn discipline and control.

That is so repulsively condescending. For all you know, OP earned that money themselves. Many do! The advice you give is ridiculous. Clearly OP is educated with an IQ above double digits and therefore knows all this already.

Gross.

[Anonymous]

Dogecoin

[Anonymous]

Asking people on here just triggers jealousy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Congrats on the family money, OP! Your first move should be to reallocate that inheritance so that it aligns with your time horizon instead of your parents or grandparents. Your second move should be to find a reliable financial advisor. You don’t want to get too far ahead of your skis, OP. Most people sporting significant new money end up squandering the majority of it before they learn discipline and control.

That is so repulsively condescending. For all you know, OP earned that money themselves. Many do! The advice you give is ridiculous. Clearly OP is educated with an IQ above double digits and therefore knows all this already.

Gross.

Someone in their early thirties with $1M in investments would have to have dollar cost averaged $5K per month into a tax-exempt S&P500 index fund for 10 years straight (assuming 10% annual returns, as has been the case since 2014) to have $1M in investments. This is close to impossible since even the employee+employer $60K retirement contribution limit for young people like OP wasn’t reached until 2022.

If not retirement, then we’re talking after-tax brokerage. This means OP is funneling about $8.5K of gross monthly income into savings. Maybe $100K per year? That’s a lot, even for someone making $300K per year. OP can’t be a lawyer, physician, or other graduate level professional else OP would be paying down massive student loans (no family money, right?) or not have had 10 years of savings time to start.

Please…this is so obviously a case of family money it isn’t even funny. Even if it was mommy and daddy footing the bill for college, grad school, that first car, and even a down payment for a house. It’s easy to pat yourself on the back for accepting a gift and broadcasting it as a measure of personal triumph and success. This seems to be the new normal for everyone under the age of 35. Pathetic.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Good for you! Time value on that will be tremendous. Keep saving and investing, but be sure to enjoy life now, too. Give us more specifics - how'd you accumulate $1M by 30? What's your HHI and how much do you save, and in what way?

The stereotypical way that you see online. Worked in tech and made 6 figures in my early 20’s, read about investing when I was in college so already had the mindset of wanting to maximize future net worth by saving aggressively at a young age.

In other words, you have no life. No family. Kudos.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Good for you! Time value on that will be tremendous. Keep saving and investing, but be sure to enjoy life now, too. Give us more specifics - how'd you accumulate $1M by 30? What's your HHI and how much do you save, and in what way?

The stereotypical way that you see online. Worked in tech and made 6 figures in my early 20’s, read about investing when I was in college so already had the mindset of wanting to maximize future net worth by saving aggressively at a young age.

In other words, you have no life. No family. Kudos.

Your jealousy is showing. Not OP but I had a great life and also $1M by 30.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Good for you! Time value on that will be tremendous. Keep saving and investing, but be sure to enjoy life now, too. Give us more specifics - how'd you accumulate $1M by 30? What's your HHI and how much do you save, and in what way?

The stereotypical way that you see online. Worked in tech and made 6 figures in my early 20’s, read about investing when I was in college so already had the mindset of wanting to maximize future net worth by saving aggressively at a young age.

In other words, you have no life. No family. Kudos.

Your jealousy is showing. Not OP but I had a great life and also $1M by 30.

Oh yeah, tell us about it. Don't leave out the part about your trust fund or wealthy parents.

I mean, it's not impressive. I have friends by 23 had $1 million because Mom and Dad gave it to them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Good for you! Time value on that will be tremendous. Keep saving and investing, but be sure to enjoy life now, too. Give us more specifics - how'd you accumulate $1M by 30? What's your HHI and how much do you save, and in what way?

The stereotypical way that you see online. Worked in tech and made 6 figures in my early 20’s, read about investing when I was in college so already had the mindset of wanting to maximize future net worth by saving aggressively at a young age.

In other words, you have no life. No family. Kudos.

Your jealousy is showing. Not OP but I had a great life and also $1M by 30.

Oh yeah, tell us about it. Don't leave out the part about your trust fund or wealthy parents.

I mean, it's not impressive. I have friends by 23 had $1 million because Mom and Dad gave it to them.

$1M by 30 was common among my peers. We had high paying job, low expenses, and understood investing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Congrats on the family money, OP! Your first move should be to reallocate that inheritance so that it aligns with your time horizon instead of your parents or grandparents. Your second move should be to find a reliable financial advisor. You don’t want to get too far ahead of your skis, OP. Most people sporting significant new money end up squandering the majority of it before they learn discipline and control.

That is so repulsively condescending. For all you know, OP earned that money themselves. Many do! The advice you give is ridiculous. Clearly OP is educated with an IQ above double digits and therefore knows all this already.

Gross.

Someone in their early thirties with $1M in investments would have to have dollar cost averaged $5K per month into a tax-exempt S&P500 index fund for 10 years straight (assuming 10% annual returns, as has been the case since 2014) to have $1M in investments. This is close to impossible since even the employee+employer $60K retirement contribution limit for young people like OP wasn’t reached until 2022.

If not retirement, then we’re talking after-tax brokerage. This means OP is funneling about $8.5K of gross monthly income into savings. Maybe $100K per year? That’s a lot, even for someone making $300K per year. OP can’t be a lawyer, physician, or other graduate level professional else OP would be paying down massive student loans (no family money, right?) or not have had 10 years of savings time to start.

Please…this is so obviously a case of family money it isn’t even funny. Even if it was mommy and daddy footing the bill for college, grad school, that first car, and even a down payment for a house. It’s easy to pat yourself on the back for accepting a gift and broadcasting it as a measure of personal triumph and success. This seems to be the new normal for everyone under the age of 35. Pathetic.

For someone who worked in tech like OP said it’s very doable. Especially if they had an internship in college and already had investments before graduation. Some of those tech internships pay $50+ an hour, it’s possible they had 40-50k to start just from interning that has now compounded 3x. Once they graduate compensation could easily average 300k+ in their 20’s if they worked for a tech company granting RSUs that appreciated significantly.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Congrats on the family money, OP! Your first move should be to reallocate that inheritance so that it aligns with your time horizon instead of your parents or grandparents. Your second move should be to find a reliable financial advisor. You don’t want to get too far ahead of your skis, OP. Most people sporting significant new money end up squandering the majority of it before they learn discipline and control.

That is so repulsively condescending. For all you know, OP earned that money themselves. Many do! The advice you give is ridiculous. Clearly OP is educated with an IQ above double digits and therefore knows all this already.

Gross.

Someone in their early thirties with $1M in investments would have to have dollar cost averaged $5K per month into a tax-exempt S&P500 index fund for 10 years straight (assuming 10% annual returns, as has been the case since 2014) to have $1M in investments. This is close to impossible since even the employee+employer $60K retirement contribution limit for young people like OP wasn’t reached until 2022.

If not retirement, then we’re talking after-tax brokerage. This means OP is funneling about $8.5K of gross monthly income into savings. Maybe $100K per year? That’s a lot, even for someone making $300K per year. OP can’t be a lawyer, physician, or other graduate level professional else OP would be paying down massive student loans (no family money, right?) or not have had 10 years of savings time to start.

Please…this is so obviously a case of family money it isn’t even funny. Even if it was mommy and daddy footing the bill for college, grad school, that first car, and even a down payment for a house. It’s easy to pat yourself on the back for accepting a gift and broadcasting it as a measure of personal triumph and success. This seems to be the new normal for everyone under the age of 35. Pathetic.

Spoken like someone who’s clueless about the tech industry.