mmkad4
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Post by mmkad4 on Mar 31, 2011 21:31:56 GMT -5
So, today my 401(k) broke $100k. And all my retirement accounts combined are THIS close to breaking $150k. YAY! I know this won't sound like a big deal to most people on here, but to me it's huge. Just wanted to share with people who might understand and who won't think I'm just bragging. hahaha
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Deleted
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Post by Deleted on Mar 31, 2011 21:37:58 GMT -5
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schildi
Well-Known Member
3718 and no text
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Post by schildi on Mar 31, 2011 21:42:06 GMT -5
Congrats! Every milestone along the way is important!
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Deleted
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Post by Deleted on Mar 31, 2011 21:54:24 GMT -5
;D
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kindthatjingles
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Post by kindthatjingles on Mar 31, 2011 21:57:00 GMT -5
Amazing  |
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SVT
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Post by SVT on Mar 31, 2011 22:05:07 GMT -5
Not bad for 30. What's your net worth?
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txengineer
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Post by txengineer on Mar 31, 2011 22:07:40 GMT -5
Congrats!  |
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mmkad4
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Post by mmkad4 on Mar 31, 2011 22:31:31 GMT -5
Thanks, everyone. I knew I was getting very close, but with the ups and downs of the markets these past few weeks, it seemed like I was never gonna get there. SVT - Net worth is close to $250k. That includes some money I have in a brokerage account and a sizeable equity in my home. |
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Deleted
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Post by Deleted on Mar 31, 2011 22:33:46 GMT -5
Thanks, everyone. I knew I was getting very close, but with the ups and downs of the markets these past few weeks, it seemed like I was never gonna get there. SVT - Net worth is close to $250k. That includes some money I have in a brokerage account and a sizeable equity in my home. Damn, I want to be like you. How did you accomplish that? I am turning 26 in 3 weeks and would not mind getting halfway to where you are at now. |
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Post by illinicheme on Mar 31, 2011 22:35:57 GMT -5
Congrats!
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cronewitch
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Post by cronewitch on Mar 31, 2011 22:49:39 GMT -5
WTG  The first milestones are very much harder and we have all either been there or wish we were. |
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HappyLady
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Post by HappyLady on Mar 31, 2011 22:50:41 GMT -5
Exciting! I think the first 100k is the hardest 100k, so you are well on your way!
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SVT
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Post by SVT on Mar 31, 2011 23:04:08 GMT -5
SVT - Net worth is close to $250k. That includes some money I have in a brokerage account and a sizeable equity in my home. Oh ok yeah that's really good. |
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mmkad4
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Post by mmkad4 on Mar 31, 2011 23:53:09 GMT -5
TheHaitian, that's very flattering, but there are a lot people my age in these boards who are doing much better than me. I've just always been really good with money (no wonder I'm an Accounting major, right?). I am also very lucky to be married to someone who, although not as interested in all this money-related stuff as I am, is also extremely frugal. We both realized from a very young age that you don't have to spend oodles of money in order to have fun. So, while our friends, for example, spend/spent thousands on destination weddings (a friend of ours just got married in Hawaii and then spent even more $$ to have a local reception for those of us who could not attend), we had a very small, intimate wedding for family and close friends only. While some of my coworkers (my wife works from home) go out daily and spend $7 to $10 for lunch, I bring leftovers almost religiously. Neither one of us drinks [or smokes], so we don't go out to bars. We enjoy quiet evenings at home where we invite friends over for home-cooked dinners or going out to the movies (usually at a discount theater, $3/person). We also keep our other expenses low. For example, our cable bill is only around $40. It's not always easy, though. We have two kids and the oldest one is in that stage where brand name is everything. We sometimes give in, but for the most part we shop at stores that sell gently used brand name clothing OR she gets to budget the money she gets for her birthday and Christmas in order to splurge (and, believe me, she makes that money last). There is no secret, though. We just try to live below our means and save the rest. Last year I completely maxed out my 401(k) (wife doesn't have one) and, when I filed our taxes, I told Uncle Sam that I would put another $10k into our Traditional IRAs. He was nice enough to reward me for that. Little does he know that I used those same tax savings to partially fund those Traditional IRAs (thanks, Uncle Sam!). We also have Roths, but it just made sense this time to fund the Traditional IRAs instead. Some of my friends think I'm cheap. That might even be the case, although I like to think of it as being frugal. Either way, I just don't care. We'll see who has the last laugh. I'll most likely have enough money to retire at 55 if I want to. They will most likely have to work until they're 70, if they're lucky. Eye on the prize. 
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blackdiamond
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Post by blackdiamond on Apr 1, 2011 2:25:51 GMT -5
Way to go! |
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daisylu
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Enter your message here...
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Post by daisylu on Apr 1, 2011 4:51:27 GMT -5
Congratulations  |
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Deleted
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Post by Deleted on Apr 1, 2011 8:47:12 GMT -5
Awesome! I was impressed to read that you're only 30. I'm totally blown away to read that you also accomplished this with 2 kids!!! Way to go! Exactly! Again, thank you for sharing and it motivates me to keep on pushing. |
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Jake 48
Senior Member
keeping the faith
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Post by Jake 48 on Apr 1, 2011 10:25:48 GMT -5
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telephus44
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Post by telephus44 on Apr 1, 2011 10:37:29 GMT -5
Congrats! I'm 32 and hoping to cross the 100K mark sometime this year. It's great to hear someone else make it!
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Deleted
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Post by Deleted on Apr 1, 2011 10:50:34 GMT -5
Congrats! I'm 32 and hoping to cross the 100K mark sometime this year. It's great to hear someone else make it! Best of luck reaching that goal And yes it is great to hear from people that are making it happen, motivates people like me that are just getting started to stay on track |
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azphx1972
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Post by azphx1972 on Apr 1, 2011 12:35:49 GMT -5
Sweet!  |
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Wisconsin Beth
Distinguished Associate
No, we don't walk away. But when we're holding on to something precious, we run.
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Post by Wisconsin Beth on Apr 1, 2011 13:09:05 GMT -5
Congrats! I'm 32 and hoping to cross the 100K mark sometime this year. It's great to hear someone else make it! I'm 40 and hoping to cross it in my 457. If I do, it will be late in the year though. I think it's more likely I'll hit it in the 1st quarter of 2012. |
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Plain Old Petunia
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bloom where you are planted
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Post by Plain Old Petunia on Apr 1, 2011 13:51:31 GMT -5
I think it's a very big deal. Congratulations!
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Wisconsin Beth
Distinguished Associate
No, we don't walk away. But when we're holding on to something precious, we run.
Joined: Dec 20, 2010 11:59:36 GMT -5
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Post by Wisconsin Beth on Apr 1, 2011 13:52:31 GMT -5
And congratulations on doing it! Nice job!
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parker1b2
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Post by parker1b2 on Apr 1, 2011 16:11:16 GMT -5
Congrats.. Awesome job.. love hearing success stories and milestones like this!!!!
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kansasflower
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Post by kansasflower on Apr 1, 2011 18:48:27 GMT -5
Congratulations! ;D
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so1970
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Post by so1970 on Apr 1, 2011 19:03:11 GMT -5
good job
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domeasingold
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Post by domeasingold on Apr 1, 2011 20:00:08 GMT -5
mmkad4
Congrats on your accomplishment!
However, you may not want to advertise what you did to fund your IRA's. He may not be so nice.
Plus you never know who may be monitoring these social sites.
Friendly advice.
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Deleted
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Post by Deleted on Apr 1, 2011 22:04:43 GMT -5
Thanks, everyone. I knew I was getting very close, but with the ups and downs of the markets these past few weeks, it seemed like I was never gonna get there. SVT - Net worth is close to $250k. That includes some money I have in a brokerage account and a sizeable equity in my home. Nice, $250K in net worth at age 30 is solid. I'd say you're on your way. I'll be shooting for that target at 30 as well. |
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mmkad4
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Post by mmkad4 on Apr 2, 2011 8:17:41 GMT -5
Thanks, everyone! I appreciate the words of encouragement. It's been a good week.
ND DOMER, what I did is not illegal and it does not violate any tax code that I know of. But, thanks for the advice. I may even modify my post, just in case. ;o)
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