Finally hit $100K in retirement savings

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s slow in the beginning. What age are you?

Too old and I knew better but then life happened while I was making other plans.

Congratulations, OP. I also wanted to say that I'm getting my kids to invest early. I don't want them to say at 30 that they should have started earlier.
Young people are busy with other things like school and friends. They don't think about retirement yet.
18-year old just got a job and we will put every dollar he make into his Roth IRA. I'm hoping we can add $4k this year as he just started working and definitely the max $7500 for 2026.
For OP, keep going. Try to max Roth IRA and don't be afraid of a regular investment account. The taxes in it can be nearly tax free (maybe state tax) in retirement when your income is low.
You will pay earned income taxes from 401k. I hope your money is in Roth.

We did this with both of our kids. DD is turning 19 in January and has $37K in her Roth IRA. DS just turned 21 and has $96K.

This sounds like fraud.

[Anonymous]

Anonymous wrote:People, great that you are teaching your kids to invest. But this is not the thread for these wise lessons and updates on how much money you/they have!

Congratulations, OP. Life doesn’t deal all of us an even hand. Saving $100,000 is hard and you should feel proud about reaching your goal!

These are rich people funding their kids’ lives and so tone deaf to post all this as a response to a self-made person who worked hard for their savings.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s slow in the beginning. What age are you?

Too old and I knew better but then life happened while I was making other plans.

That’s me too, OP.
Congratulations!

[Anonymous]

OP, my net worth did not go permanently positive until I was about 33, mostly because of grad school. I'm now in my mid-late 40s at a net worth of about $1.9M. Not huge, but two things helped: stretching to buy a house with very little down, and maxing my retirement accounts, both in lieu of paying off any debt. For me, taking advantage of leverage really helped build wealth faster.

[Anonymous]

Anonymous wrote:OP, my net worth did not go permanently positive until I was about 33, mostly because of grad school. I'm now in my mid-late 40s at a net worth of about $1.9M. Not huge, but two things helped: stretching to buy a house with very little down, and maxing my retirement accounts, both in lieu of paying off any debt. For me, taking advantage of leverage really helped build wealth faster.

Also helps when you’re subsidized by family money and dumb luck, unlike OP. Stop flaunting your alleged $1.9M net worth and the BS rags-to-riches story about your kids and their supersized Roth IRAs…and then downplaying it all as if it were commonplace or somehow an embarrassment by DCUM standards.

[Anonymous]

Good for you op!

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, my net worth did not go permanently positive until I was about 33, mostly because of grad school. I'm now in my mid-late 40s at a net worth of about $1.9M. Not huge, but two things helped: stretching to buy a house with very little down, and maxing my retirement accounts, both in lieu of paying off any debt. For me, taking advantage of leverage really helped build wealth faster.

Also helps when you’re subsidized by family money and dumb luck, unlike OP. Stop flaunting your alleged $1.9M net worth and the BS rags-to-riches story about your kids and their supersized Roth IRAs…and then downplaying it all as if it were commonplace or somehow an embarrassment by DCUM standards.

Good for people subsidized by family. It however means nothing to me. If you ignore fools like Dave Ramsey or the pay cash for everything ladder pullers, you can build wealth quickly.

[Anonymous]

Congrats. Being a little finance nerdy, over my working career, we have kept track of how long it takes to add 100k to our net worth. The first 100k takes the longest. It’s a huge milestone. Congrats.

[Anonymous]

Anonymous wrote:Congrats. Being a little finance nerdy, over my working career, we have kept track of how long it takes to add 100k to our net worth. The first 100k takes the longest. It’s a huge milestone. Congrats.

Thank you! And thankful for the supportive community here.