1M in investments at 30

[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.

Shocker there are many dinks in their late 20s/early 30s easily making $250-350k each, putting their HHI at 500-700k…particularly in DC. Finance, law or tech. If you aren’t making at least 250k in your early 30s in those fields you’re doing something wrong.


My wife and I are in that boat, late 20s/early 30s and have been over 700k HHI for the last 3 years. We save 60% as we have nothing material to spend our money on. We own a nice home (bought w/ a very low rate and big enough for multiple kids), two modest cars, and take a nice trip but outside that we barely spend money on wasteful things like fancy clothes/jewlery/michelin star restaurants.

[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.

Shocker there are many dinks in their late 20s/early 30s easily making $250-350k each, putting their HHI at 500-700k…particularly in DC. Finance, law or tech. If you aren’t making at least 250k in your early 30s in those fields you’re doing something wrong.


My wife and I are in that boat, late 20s/early 30s and have been over 700k HHI for the last 3 years. We save 60% as we have nothing material to spend our money on. We own a nice home (bought w/ a very low rate and big enough for multiple kids), two modest cars, and take a nice trip but outside that we barely spend money on wasteful things like fancy clothes/jewlery/michelin star restaurants.

But you don't have kids?

[Anonymous]

Op, just keep doing what you're doing. You'll likely get an adrenaline shot in the arm to earn more bread if you have a family and dependents.

[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.

Shocker there are many dinks in their late 20s/early 30s easily making $250-350k each, putting their HHI at 500-700k…particularly in DC. Finance, law or tech. If you aren’t making at least 250k in your early 30s in those fields you’re doing something wrong.


My wife and I are in that boat, late 20s/early 30s and have been over 700k HHI for the last 3 years. We save 60% as we have nothing material to spend our money on. We own a nice home (bought w/ a very low rate and big enough for multiple kids), two modest cars, and take a nice trip but outside that we barely spend money on wasteful things like fancy clothes/jewlery/michelin star restaurants.

But you don't have kids?

.

We just had our first kid last fall. It gave us a ton of time to accumulate assets

[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.

Shocker there are many dinks in their late 20s/early 30s easily making $250-350k each, putting their HHI at 500-700k…particularly in DC. Finance, law or tech. If you aren’t making at least 250k in your early 30s in those fields you’re doing something wrong.


My wife and I are in that boat, late 20s/early 30s and have been over 700k HHI for the last 3 years. We save 60% as we have nothing material to spend our money on. We own a nice home (bought w/ a very low rate and big enough for multiple kids), two modest cars, and take a nice trip but outside that we barely spend money on wasteful things like fancy clothes/jewlery/michelin star restaurants.

+1. DH and I are late 20s, HHI $1.1M. Both in Tech. I work about 10 hours a week, DH is consulting at 30 hours. We have about $4M in investments. This is not rocket science folks! It’s called working hard and saving to the max.

[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.

Shocker there are many dinks in their late 20s/early 30s easily making $250-350k each, putting their HHI at 500-700k…particularly in DC. Finance, law or tech. If you aren’t making at least 250k in your early 30s in those fields you’re doing something wrong.


My wife and I are in that boat, late 20s/early 30s and have been over 700k HHI for the last 3 years. We save 60% as we have nothing material to spend our money on. We own a nice home (bought w/ a very low rate and big enough for multiple kids), two modest cars, and take a nice trip but outside that we barely spend money on wasteful things like fancy clothes/jewlery/michelin star restaurants.

+1. DH and I are late 20s, HHI $1.1M. Both in Tech. I work about 10 hours a week, DH is consulting at 30 hours. We have about $4M in investments. This is not rocket science folks! It’s called working hard and saving to the max.

LOL B.S.

[Anonymous]

Anonymous wrote:

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.

Shocker there are many dinks in their late 20s/early 30s easily making $250-350k each, putting their HHI at 500-700k…particularly in DC. Finance, law or tech. If you aren’t making at least 250k in your early 30s in those fields you’re doing something wrong.


My wife and I are in that boat, late 20s/early 30s and have been over 700k HHI for the last 3 years. We save 60% as we have nothing material to spend our money on. We own a nice home (bought w/ a very low rate and big enough for multiple kids), two modest cars, and take a nice trip but outside that we barely spend money on wasteful things like fancy clothes/jewlery/michelin star restaurants.

+1. DH and I are late 20s, HHI $1.1M. Both in Tech. I work about 10 hours a week, DH is consulting at 30 hours. We have about $4M in investments. This is not rocket science folks! It’s called working hard and saving to the max.

LOL B.S.

Your boomer jealousy is palpable.

[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.

Shocker there are many dinks in their late 20s/early 30s easily making $250-350k each, putting their HHI at 500-700k…particularly in DC. Finance, law or tech. If you aren’t making at least 250k in your early 30s in those fields you’re doing something wrong.


My wife and I are in that boat, late 20s/early 30s and have been over 700k HHI for the last 3 years. We save 60% as we have nothing material to spend our money on. We own a nice home (bought w/ a very low rate and big enough for multiple kids), two modest cars, and take a nice trip but outside that we barely spend money on wasteful things like fancy clothes/jewlery/michelin star restaurants.

+1. DH and I are late 20s, HHI $1.1M. Both in Tech. I work about 10 hours a week, DH is consulting at 30 hours. We have about $4M in investments. This is not rocket science folks! It’s called working hard and saving to the max.

I work in FANG, used to do tech consulting so I am very familiar with how much tech pays. But if you work 10 hrs/week, curious to know what position you have. I want to transition into it as well.

[Anonymous]

Anonymous wrote:

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.

Shocker there are many dinks in their late 20s/early 30s easily making $250-350k each, putting their HHI at 500-700k…particularly in DC. Finance, law or tech. If you aren’t making at least 250k in your early 30s in those fields you’re doing something wrong.


My wife and I are in that boat, late 20s/early 30s and have been over 700k HHI for the last 3 years. We save 60% as we have nothing material to spend our money on. We own a nice home (bought w/ a very low rate and big enough for multiple kids), two modest cars, and take a nice trip but outside that we barely spend money on wasteful things like fancy clothes/jewlery/michelin star restaurants.

+1. DH and I are late 20s, HHI $1.1M. Both in Tech. I work about 10 hours a week, DH is consulting at 30 hours. We have about $4M in investments. This is not rocket science folks! It’s called working hard and saving to the max.

I work in FANG, used to do tech consulting so I am very familiar with how much tech pays. But if you work 10 hrs/week, curious to know what position you have. I want to transition into it as well.

That's what I called BS on. I know plenty of well paid tech folks (I went to MIT) but in no way do any of them work less than 60-70 hours or more a week.

[Anonymous]

Anonymous wrote:

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.

Shocker there are many dinks in their late 20s/early 30s easily making $250-350k each, putting their HHI at 500-700k…particularly in DC. Finance, law or tech. If you aren’t making at least 250k in your early 30s in those fields you’re doing something wrong.


My wife and I are in that boat, late 20s/early 30s and have been over 700k HHI for the last 3 years. We save 60% as we have nothing material to spend our money on. We own a nice home (bought w/ a very low rate and big enough for multiple kids), two modest cars, and take a nice trip but outside that we barely spend money on wasteful things like fancy clothes/jewlery/michelin star restaurants.

+1. DH and I are late 20s, HHI $1.1M. Both in Tech. I work about 10 hours a week, DH is consulting at 30 hours. We have about $4M in investments. This is not rocket science folks! It’s called working hard and saving to the max.

I work in FANG, used to do tech consulting so I am very familiar with how much tech pays. But if you work 10 hrs/week, curious to know what position you have. I want to transition into it as well.

I’m an artificial intelligence algorithm architect. I write software that generates all my code and documentation deliverables for me. I spend about 3 hours a week writing and updating my generative modeling code base, another 4 hours per week editing and tweaking the generated outputs to make it look like a human created them, and an hour in staff meetings.

I may be an underrepresented white woman in the field, but I produce greater quality and quantity of work than most of my Asian and male coworkers churning out mediocre code 12 hours a day. Gives me plenty of time for investing, online shopping, and time to walk my dog Ruffles around the neighborhood.

[Anonymous]

Anonymous wrote:What would your advice be to someone with 1M in investments in their early 30’s? Mix of retirement and taxable accounts. Should I cut back on the saving rate, spend for today, and let the investment ride? Or keep saving as aggressively as possible?

If unmarried, don't let gold diggers know.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

Shocker there are many dinks in their late 20s/early 30s easily making $250-350k each, putting their HHI at 500-700k…particularly in DC. Finance, law or tech. If you aren’t making at least 250k in your early 30s in those fields you’re doing something wrong.


My wife and I are in that boat, late 20s/early 30s and have been over 700k HHI for the last 3 years. We save 60% as we have nothing material to spend our money on. We own a nice home (bought w/ a very low rate and big enough for multiple kids), two modest cars, and take a nice trip but outside that we barely spend money on wasteful things like fancy clothes/jewlery/michelin star restaurants.

+1. DH and I are late 20s, HHI $1.1M. Both in Tech. I work about 10 hours a week, DH is consulting at 30 hours. We have about $4M in investments. This is not rocket science folks! It’s called working hard and saving to the max.

I work in FANG, used to do tech consulting so I am very familiar with how much tech pays. But if you work 10 hrs/week, curious to know what position you have. I want to transition into it as well.

That's what I called BS on. I know plenty of well paid tech folks (I went to MIT) but in no way do any of them work less than 60-70 hours or more a week.

Don’t feel bad. Most engineers from places like MIT are nothing but heads-down grinders and individual contributors whose electronic accessory of choice is a trusty TI-84 over an iPhone. No friends to call or text, of course. Living in unkempt quarters while sporting a used Tesla as some sort of badge of honor.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

Shocker there are many dinks in their late 20s/early 30s easily making $250-350k each, putting their HHI at 500-700k…particularly in DC. Finance, law or tech. If you aren’t making at least 250k in your early 30s in those fields you’re doing something wrong.


My wife and I are in that boat, late 20s/early 30s and have been over 700k HHI for the last 3 years. We save 60% as we have nothing material to spend our money on. We own a nice home (bought w/ a very low rate and big enough for multiple kids), two modest cars, and take a nice trip but outside that we barely spend money on wasteful things like fancy clothes/jewlery/michelin star restaurants.

+1. DH and I are late 20s, HHI $1.1M. Both in Tech. I work about 10 hours a week, DH is consulting at 30 hours. We have about $4M in investments. This is not rocket science folks! It’s called working hard and saving to the max.

I work in FANG, used to do tech consulting so I am very familiar with how much tech pays. But if you work 10 hrs/week, curious to know what position you have. I want to transition into it as well.

I’m an artificial intelligence algorithm architect. I write software that generates all my code and documentation deliverables for me. I spend about 3 hours a week writing and updating my generative modeling code base, another 4 hours per week editing and tweaking the generated outputs to make it look like a human created them, and an hour in staff meetings.

I may be an underrepresented white woman in the field, but I produce greater quality and quantity of work than most of my Asian and male coworkers churning out mediocre code 12 hours a day. Gives me plenty of time for investing, online shopping, and time to walk my dog Ruffles around the neighborhood.

Impressive!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

Shocker there are many dinks in their late 20s/early 30s easily making $250-350k each, putting their HHI at 500-700k…particularly in DC. Finance, law or tech. If you aren’t making at least 250k in your early 30s in those fields you’re doing something wrong.


My wife and I are in that boat, late 20s/early 30s and have been over 700k HHI for the last 3 years. We save 60% as we have nothing material to spend our money on. We own a nice home (bought w/ a very low rate and big enough for multiple kids), two modest cars, and take a nice trip but outside that we barely spend money on wasteful things like fancy clothes/jewlery/michelin star restaurants.

+1. DH and I are late 20s, HHI $1.1M. Both in Tech. I work about 10 hours a week, DH is consulting at 30 hours. We have about $4M in investments. This is not rocket science folks! It’s called working hard and saving to the max.

I work in FANG, used to do tech consulting so I am very familiar with how much tech pays. But if you work 10 hrs/week, curious to know what position you have. I want to transition into it as well.

I’m an artificial intelligence algorithm architect. I write software that generates all my code and documentation deliverables for me. I spend about 3 hours a week writing and updating my generative modeling code base, another 4 hours per week editing and tweaking the generated outputs to make it look like a human created them, and an hour in staff meetings.

I may be an underrepresented white woman in the field, but I produce greater quality and quantity of work than most of my Asian and male coworkers churning out mediocre code 12 hours a day. Gives me plenty of time for investing, online shopping, and time to walk my dog Ruffles around the neighborhood.

And troll DCUM!

[Anonymous]

Anonymous wrote:

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.

Shocker there are many dinks in their late 20s/early 30s easily making $250-350k each, putting their HHI at 500-700k…particularly in DC. Finance, law or tech. If you aren’t making at least 250k in your early 30s in those fields you’re doing something wrong.


My wife and I are in that boat, late 20s/early 30s and have been over 700k HHI for the last 3 years. We save 60% as we have nothing material to spend our money on. We own a nice home (bought w/ a very low rate and big enough for multiple kids), two modest cars, and take a nice trip but outside that we barely spend money on wasteful things like fancy clothes/jewlery/michelin star restaurants.

But you don't have kids?

.

We just had our first kid last fall. It gave us a ton of time to accumulate assets

That’s kewl