I met my first Retirement Savings goal

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nakedbird226
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I met my first Retirement Savings goal

Post by nakedbird226 » Fri Dec 01, 2017 10:14 am

I opened up Fidelity this morning to see that my combined investments have added another digit :)...I hit the $100,000 mark! I know this is chump change to many of you on this forum, but it is an important stepping stone for me as I started from scratch at 23 with no retirement savings. Less than 4 years later with the help of all of your advice on this forum, I was able to reach that 100k mark a few years earlier than I was shooting for.

Thank you to all you Bogleheads for all the support and advice. You are the only people I can openly share this with so here I am.

Next goal = $250,000 :D

amitb00
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Re: I met my first Retirement Savings goal

Post by amitb00 » Fri Dec 01, 2017 10:18 am

Congrats

CnC
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Re: I met my first Retirement Savings goal

Post by CnC » Fri Dec 01, 2017 10:20 am

Congrats 32 here and I broke the 500k mark just last month.

Its a great feeling and you are well on track. You will marvel at how much more quickly that 1 turns into a 2.


Keep fighting the good fight. :beer

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JDCarpenter
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Re: I met my first Retirement Savings goal

Post by JDCarpenter » Fri Dec 01, 2017 10:27 am

nakedbird226 wrote:
Fri Dec 01, 2017 10:14 am
... I know this is chump change to many of you on this forum, but it is an important stepping stone for me as I started from scratch at 23 with no retirement savings. ...
27 years old with 100K? I sure won't sneer at that! We were negative net worth at that age. Congrats!! :happy As CnC noted, the first steps are the hardest, and you are off to a good start. :beer
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YetAnotherUser
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Re: I met my first Retirement Savings goal

Post by YetAnotherUser » Fri Dec 01, 2017 10:32 am

Congrats! That's awesome progress so far. Keep at it!

magicrat
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Re: I met my first Retirement Savings goal

Post by magicrat » Fri Dec 01, 2017 11:37 am

$100k is not chump change, it's probably more than most people will save in their entire life. Congrats and well done!

grettman
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Re: I met my first Retirement Savings goal

Post by grettman » Fri Dec 01, 2017 11:40 am

That is an amazing accomplishment given your age. Good job!

Dottie57
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Re: I met my first Retirement Savings goal

Post by Dottie57 » Fri Dec 01, 2017 11:44 am

Congratulations. 100k is NOT chump change. It took me a long time to get to that number.

ABQ4804
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Re: I met my first Retirement Savings goal

Post by ABQ4804 » Fri Dec 01, 2017 11:50 am

Wow - congrats! That is no chump change, especially at age 27. I know many of us arrived at Bogleheads after many years of poor financial choices and speculation gone bad - we did! You are well on your way to financial independence by learning in your 20’s.

mptfan
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Re: I met my first Retirement Savings goal

Post by mptfan » Fri Dec 01, 2017 11:59 am

Congratulations! I was well into my 30's before I hit that number, so you should be proud of what you've accomplished at a young age. Keep it up.

WhiteMaxima
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Re: I met my first Retirement Savings goal

Post by WhiteMaxima » Fri Dec 01, 2017 12:02 pm

Keep your pace or even accelerate.

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ruralavalon
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Re: I met my first Retirement Savings goal

Post by ruralavalon » Fri Dec 01, 2017 12:02 pm

nakedbird226 wrote:
Fri Dec 01, 2017 10:14 am
I opened up Fidelity this morning to see that my combined investments have added another digit :)...I hit the $100,000 mark! I know this is chump change to many of you on this forum, but it is an important stepping stone for me as I started from scratch at 23 with no retirement savings. Less than 4 years later with the help of all of your advice on this forum, I was able to reach that 100k mark a few years earlier than I was shooting for.

Thank you to all you Bogleheads for all the support and advice. You are the only people I can openly share this with so here I am.

Next goal = $250,000 :D
Congratulations :D .

That's not "chump change", $100k is outstanding at age 27.

Don't forget to also give credit to sheer dumb luck for the bull market. That won't always be. Be sure to continue contributing as much as you can, use very diversified low ER index funds, and stay the course even when the market doesn't.
Last edited by ruralavalon on Fri Dec 01, 2017 12:04 pm, edited 1 time in total.
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SurferLife
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Re: I met my first Retirement Savings goal

Post by SurferLife » Fri Dec 01, 2017 12:04 pm

Congrats! I hit 100k at 35, oh boy did I feel behind. You're doing great!

soccerrules
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Re: I met my first Retirement Savings goal

Post by soccerrules » Fri Dec 01, 2017 12:28 pm

Congrats !

I am trying to heed the advice I have given my kids over the last 20+ years. " There are always going to be people that have MORE than you and LESS than you, always" -- focus on YOU and do YOUR best.
Don't let your outflow exceed your income or your upkeep will be your downfall.

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Will do good
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Re: I met my first Retirement Savings goal

Post by Will do good » Fri Dec 01, 2017 12:33 pm

Congrats! 27 at 100K is really good, you beat out 95% of Americans.

Emily1980
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Re: I met my first Retirement Savings goal

Post by Emily1980 » Fri Dec 01, 2017 12:52 pm

This is a great accomplishment! And in only 4 years, seeing as how you started at 23 and are now 27. We only had about 75k when we were 27, so you're doing great!

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Sandtrap
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Re: I met my first Retirement Savings goal

Post by Sandtrap » Fri Dec 01, 2017 12:58 pm

Congratulations :sharebeer
Only 1 more digit. . . 1 more digit. . . . . 1 more digit. . . .

retireearly
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Re: I met my first Retirement Savings goal

Post by retireearly » Fri Dec 01, 2017 1:12 pm

nakedbird226 wrote:
Fri Dec 01, 2017 10:14 am
I opened up Fidelity this morning to see that my combined investments have added another digit :)...I hit the $100,000 mark! I know this is chump change to many of you on this forum, but it is an important stepping stone for me as I started from scratch at 23 with no retirement savings. Less than 4 years later with the help of all of your advice on this forum, I was able to reach that 100k mark a few years earlier than I was shooting for.

Thank you to all you Bogleheads for all the support and advice. You are the only people I can openly share this with so here I am.

Next goal = $250,000 :D
Chump change?? No way!!! That is truly fantastic and you'd be surprised that you are probably better off than most of us at that age, just a guess. I was thinking my wife and I had that at 27 combined but I just looked and we didn't hit that until 31. You are in tremendous shape because if you are a lot like many of us, your income will expand the next 15-25 years and so will your savings rate. These early years of compounding will pay off down the road. Keep buying stocks, don't be afraid of bad news (you should root for it) and keep buying - both when everyone is buying and esp. when everyone is selling!
Age:45, about to be single for first time since 1995. Kids 8/13. Current AA 70/30, Desired stock AA 50/50, overweight EM, Int SC and US SCV.

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knpstr
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Re: I met my first Retirement Savings goal

Post by knpstr » Fri Dec 01, 2017 1:25 pm

$100,000 is a very big milestone.

Way to go!
Very little is needed to make a happy life; it is all within yourself, in your way of thinking. -Marcus Aurelius

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obafgkm
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Re: I met my first Retirement Savings goal

Post by obafgkm » Fri Dec 01, 2017 1:33 pm

nakedbird226 wrote:
Fri Dec 01, 2017 10:14 am
I opened up Fidelity this morning to see that my combined investments have added another digit :)...I hit the $100,000 mark!
Congratulations! You have hit 1.67 commas! (How do I come to that conclusion? Simply take the logarithm of your net worth and divide by three).
nakedbird226 wrote:
Fri Dec 01, 2017 10:14 am
Next goal = $250,000 :D
That's only about 1.8 commas! Two commas doesn't seem that far off, does it? :D

TheHouse7
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Re: I met my first Retirement Savings goal

Post by TheHouse7 » Fri Dec 01, 2017 5:12 pm

Awesome! My wife and I will reach that at 31&28. Your inspirational :beer
"PSX will always go up 20%, why invest in anything else?!" -Father-in-law early retired.

snowox
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Re: I met my first Retirement Savings goal

Post by snowox » Fri Dec 01, 2017 5:16 pm

Well done! congrats.. :sharebeer

SundayMorning
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Re: I met my first Retirement Savings goal

Post by SundayMorning » Fri Dec 01, 2017 5:44 pm

You are doing great! By your age I had already blown that much or more, then started over again. :oops:

I was such a dummy I had to do it twice. At 48 & 47 we are on track to be FI by 58-ish.

:sharebeer

3funder
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Re: I met my first Retirement Savings goal

Post by 3funder » Fri Dec 01, 2017 5:47 pm

I hit the same milestone about one month ago (age 33). Congratulations!

260chrisb
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Re: I met my first Retirement Savings goal

Post by 260chrisb » Fri Dec 01, 2017 6:01 pm

Very well done and it's not chump change and is 100K more than I had at 27. Is this retirement money, investment and savings money, or a combination of both? Be prepared for the next 100K to come easier and also for it to be less. Because you know it can be less, right? I have to wonder how you got there as it seems to me there are plenty of folks who claim they can't save. If you have a good income, over a four year period a person can save nearly 90K in just retirement accounts, have a match, and have a strong market that all quickly help build to this level.

VAslim16
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Re: I met my first Retirement Savings goal

Post by VAslim16 » Fri Dec 01, 2017 6:09 pm

SurferLife wrote:
Fri Dec 01, 2017 12:04 pm
Congrats! I hit 100k at 35, oh boy did I feel behind. You're doing great!
+1. I was 37 when I hit. Well done and keep it up. As other people have said you are on a really good trajectory to be at that point so young.

nakedbird226
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Re: I met my first Retirement Savings goal

Post by nakedbird226 » Fri Dec 01, 2017 6:40 pm

260chrisb wrote:
Fri Dec 01, 2017 6:01 pm
Very well done and it's not chump change and is 100K more than I had at 27. Is this retirement money, investment and savings money, or a combination of both? Be prepared for the next 100K to come easier and also for it to be less. Because you know it can be less, right? I have to wonder how you got there as it seems to me there are plenty of folks who claim they can't save. If you have a good income, over a four year period a person can save nearly 90K in just retirement accounts, have a match, and have a strong market that all quickly help build to this level.
My salary over the 4 years went from ~55k to ~85k in random chunks. This is only counting my money I have in my 401k and Roth IRA so truly is a retirement goal, not a net worth goal. Just this past year I was finally able to start maxing out both the 401k and IRA. In previous years I couldn't afford to max out the 401k, but was contributing anywhere from 10% to 20% of my salary. With a small company match (3%) and the bull market, this happened quicker than anticipated I guess. Also, I have no other debt than my condo so I was able to save pretty aggressively.

Thanks everyone for the encouraging words. Going out for a nice dinner tonight and letting loose and spending some money for a change.

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