And just like that, 2.1M
Investing Dad@IndexandC
Been a while since y’all! Just hit 2M invested 🤷
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Investing Dad
8.6K posts
Investing Dad
@IndexandC
Index Funds and Chill - 1M invested - Not a FIRE account - Get wealthy slowly
Katılım Ekim 2020
1.2K Takip Edilen3.6K Takipçiler
Just topped 1M in 401k. This was a result of consistent contributions over 20 years and a heck of a bull market.
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@GenXmillionaire @thetradingbro That’s awesome! We probably spent 150k and our network was up around 470k
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@thetradingbro We spent $200k in 2024 and still made a lot more than that.
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Just completed my annual net worth statement. It always amazes me how far we’ve come. I’m proud of my wife and me. We didn’t come from much.
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@IndexandC Probably not interest then, more like compound dividends and investment returns.
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Power of compound interest. Have not added a penny to the beginning total.
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@Reniec7 @theficouple $2.3 is probably comfortable. Park in HYSA and can live off mostly interest.
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The levels of wealth as we see them:
$850,000- Comfortable
$1.1 million-Pretty rich
$1.65 million- Semi wealthy
$2.3 million- Wealthy
Do you agree?
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@IndexandC That’s awesome! Your company match must be huge
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3 years with my employer
200k in the 401k
Generous match and maxing out contribution limit did it.
Oh yeah and the insane market run !
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With the market run, NW has increased to 2.1M and 1.8 invested. On track for a 500k yearly increase in NW.
Investing Dad@IndexandC
Hit a big milestone Friday as we reached 2M in net worth. The second million took less than 4 years (45 months), and went by in the blink of an eye. Of the 2M, 1.7 is invested in the market and the remaining is a mix of cash, home equity and vehicles.
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Hit a big milestone Friday as we reached 2M in net worth.
The second million took less than 4 years (45 months), and went by in the blink of an eye.
Of the 2M, 1.7 is invested in the market and the remaining is a mix of cash, home equity and vehicles.
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@IndexandC Congrats on the accomplishment
How long have you been investing?
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@ewstevenson Life to us is not about optimizing wealth creation , I’m fine with spending on automobiles and using them to enjoy life experiences that are valuable. They only represent 40k of the 2M
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@IndexandC I take vehicles out of the equation for two reasons:
- They are a liability with operating. maintenance, and depreciation costs that aren't accounted for in net worth .
- To decentivize over-spending. A car makes you more poor, not rich. Few exceptions.
Camry or Cadillac?
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@awealthofcs Tahitian Treat packs a whopping 81 grams of sugar per serving! Great callback, they still have it at my local pizza place.
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The power of compounding!
I left an employer in 2018 and since then the account balance of the 401k has increased 153%!
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@IndexandC @HarryDisaOG @crankfarts Dude, if a person can save 40k per year on the side…in 5 years, they’d have enough to partner/get owner financing on a business of their own and ditch this stupid fucking non-sense you are spouting. No one that saves that much wants to work for other people - for life. NO ONE.
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