Why Net Worth Explodes After 100k

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Why Net Worth Explodes After 100k

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I have 35% of my capital investments in an IRA, 25% in index funds, and the balance spread across other investment accts totalling over $250k. I took a big hit in Q2, 2023. Right now i am just looking for ways to recover in 2024.

ChadRoberts-xi

I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.

tonysilke

I agree that many people are considering NVDA as the "Stock of the year." However, I'm curious about which stocks could potentially become the next META in terms of growth over the next decade. I've allocated $200k for investment, looking for companies to make additions to boost performance

MathiasLaurel

To stay motivated, you can also apply this logic for your first 10k, then the second 10k, to 20k will also be easier. You can cut it up even further, the first 1k is harder than the second 1k to to 2k. If the goal seems to far away, cut it up in more milestones. Go at it!

vortex

Investing in the stock market has HISTORICALLY provided higher returns than other forms of investment. According to Morningstar, the average annual return for the S&P 500 index, which measures the performance of 500 large-cap stocks, was approximately 10% from 1926 to 2020.

selenajack

This is so true I don’t remember how long it took me to reach the first 100K but years later when I hit about 700K it only took about 10 months to hit the next 100K. Now I’m a member of the 2 comma club 😊

dantheman

Its true my milestone's I recall:
--Time / Amount / Year
0. /. $0. /2000
5 / $75k / 2004
9 / $75k / 2009 (recession hits bottom-contribute no growth)
10 / $150k /2010 (recession recovery)
13 / $300k / 2013 (I moved and did NOT do a rollover)
15 / $388k / 2015(felt like no growth whole year)
19 / $650k / 2019 (New job, stop contributed to this account at thus point)
21 / $1.3mil / 2022(2019-2021 was amazing! 16-28% annual returns)
22 /$1.0mil (2022 bad year)
24 /$1.4mil (today in Feb 2024)

Just a real kife example for anyone curious.

jimv

If net worth explodes after $100k, I can't wait for it to truly snowball after $500k!

wildfoodietours

It’s the same reason every explodes after 100k, smaller percentage gains are just larger amounts of money. Then add in compound interest and it goes mental.

jamessmithson-brrm

Looking at my total Net Worth, considering all assets and all debts/liabilities,

0-10k not tracked, maybe 8 years as a kid/teen
10-100k took 4.0 years
100-200k took 2.5 years
200-300k took 1.5Y
300-400k took 2.0Y
400-500k took 1.5Y
500-600k took 1.5Y
600-700k took <1Y (mostly real estate)
700-800k took <1Y (mostly real estate)
800-900k took 1Y (half and half, market and real estate)
Currently at 964k net-worth, about 8 months after hitting 900k. Living in an RV building a home to resell in a few years. Will hopefully break 1M NW on paper in 2024!

restingsmirkface

This is so relatable and true lol. I remembered how tough it was before I hit the $100k mark 37. I am 56 today with over $2.8 million in my retirement nest fund alone, didnt take me any stress to get there. Maybe its because my CFP's meticulous oversight is reliable. My only regret is not starting early enough.

aureliobjm

Being a perpetual graduate student and overall lazy sod, I didn't get to 100k until my mid-40s. Now I'm 60 and I don't know how I came into so much money so fast. But it happened.

OroborusFMA

I really like your content. Makes me realize so many coworkers are way behind. I'm 49 this year and looking at 56 for retirement. 1 mil in a 401k is an easy 25-30years imo. The first 100k is so true. My biggest goal is paying off my mortgage by then.

garymckinziejr

The problem is complexity creep. Modern life is less tragic but vastly more complex than what it was just one lifetime ago. I love the idea of auto enrollment in 401ks. It would be hugely helpful for the super majority of Americans to hit that 1st 100k and beyond.

yhckelly