re: 100K Net Worth

Watch out. Couple of badasses here.

I'm 32 and the wife is 34, we have roughly ~250k networth and looking back I feel like i could have saved soooo much more. We are probably about 1.25X our total comp.

This thread is a good laugh after a long day.

I hit 6 figures when I was 26 - a big part was very minimal student loan debt and saying yes I'll go do that to every shite project that came up.

In my early to mid 20's, but it was because I had started a business and was buying LOTS of real estate back then.

Unless you're a high earner with a high savings rate and some home run investments, 5 million might be tough. It's doable, of course. But if you have high aspirations and goals, understand that an investment in a business and/or property will get you there more easily than just eating beans and rice for dinner for 30 years.

Also, consider the significance of "liquid net worth" as you ponder this question. You can have an impressive net worth at any age. But if it's all tied up in illiquid assets, cash poor, with a high net worth, is still cash poor. And don't ever think that a bank will always be there to float you a loan, secured or not.

And a side note... as long as they're here to try to learn something, I won't make fun of anyone not understanding a financial or economic concept. But if you don't know something, probably best not to be so emphatic in stating a (wrong) answer.

I'm 28. Hit 100k net last year. Already have about 70k in retirement alone. Shooting for $4m in 30 years.

quote:

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When did you or are you planning to hit a 100K net worth? Would 100k by 30 be an achievement or just so so?

For someone retiring in 30 years, does 5mm sound like a solid target?

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I think it was mid to late 20s for me. 100k by 30 might be an achievement if you're only saving 5k a year.

I'll be 40 in several months and my investment portfolio will be 600k. I don't include house equity as to me that is an asset that isn't easily accessible.

My retirement goal is at least 2mm by 55. If my portfolio has a 6% average annual return over the next 15 years I should make it.

When you hit ~500k is the first big milestone imho. Returns from your portfolio can dwarf new contributions to your 401k/ira.

Once I hit the two comma club, I'll probably stop new contributions as they won't matter that much. Or I'll go super aggressive with the new money and see if I can get lucky on some bets.

This is the best retirement calculator that I've seen:
https://www.marketwatch.com/retirement/tools/retirement-planning-calculator

I am 31, net worth of about 220k (including house and 401k). Most of it in house...

But as said before, net worth doesnt pay the bills. Got a 16 month old and the wife is only working part time, lean times.

I hit a net worth of $100k when I was about 28 but I don't make huge bank and definitely didn't when I started out of college. I also got a later start than most as I was in school for 6.5 years.