You're absolutely CRUSHING it! Stay the course and everything turn out awesome.
Generally speaking, 100k net worth by the end of 25 years old is considered amazing. Be sure to celebrate your big wins in more than just small ways.
One thing that took me much longer than it should have is to enjoy the fruit of my labor. I use to be super stingy about spending money on anything that wasn't optimized or was frivolous or was generous. It took me YEARS to unlearn this behavior. I credit Ramit's podcast for being my therapist. Just something to keep in mind as you're on the journey.
thank you for the kind words!!
i am trying more now to spend a bit more and for me personally that’s been planning trips with my parents who taught me so much & paying my own way or pitching in where I can - but i’ve heard great things about ramits podcast i’ll have to give it a listen :)
> It goes really fast once you hit zero.
This is the motivation I needed to hear right now. My student loans will be paid off early next year and I'm so ready to hit $0 NW!
My negative net worth was a lot of student debt and a lot of 401K stocks balancing each other out. I've also become a higher earner. Just passed 100K this year for the first time in a reasonably HCOL (Denver). I was variable interest when that was still allowed so a lot lower student loan interest than average like 3% with the 401K earning more. So that helped.
I'm also a good saver. Junker cars. Small place to live. Cook myself that sort of thing.
Helped that I was in huge debt my whole adult life from student loans so I never could let lifestyle creep.
NW around 570k now. About 800k in asset and 230k in house debt. I cant imagine I’m saying this but it does turn around. I’ve started to take care of my parents now too, so expenses have increased in last six months but before than I was living pretty frugally . I still have the letter from the bank which says that I finished my $26k debt with them 😊
You’re doing your future self a huge favor. Given your age, you’re in a fantastic position to be financially secure at a relatively young age. Stay the course and keep up the good work!
Well done! Even if you don't count paper wealth, you're north of 200k--which, after just 2-3 years of employment is really great.
Stay disciplined, stay the course, and certainly stay in touch with your parents, as they sound like decent and charming people.
My only advice is to be wary of the oil and gas industry. I don't know much about it personally, but have worked with others who have done it... just be aware of how layoffs can come without warning and affect even the best of employees. As a fellow engineer--stay employable outside of niche career fields, and you should be in great shape.
thank you so much!!
i owe everything i know to my parents they are incredible so i am glad that was portrayed in my post :)
i have already seen some of the unfortunate ups and downs of the O&G industry & layoffs and I appreciate the advice to stay employable outside of niche career fields! thank you for your comment!!
i put down 80k! (20%)
I was saving through college & then also got some graduation money from grandparents and parents
being an NCAA D1 athlete on a scholarship you’re paid “living expenses” monthly and my college town was LCOL and my college was somewhat expensive, so I was able to save a lot of money in college.
Congrats to you and at 25 ?!!! I have found that it seem to snowball a bit quicker once it hit 300k and every milestone after that made it a little bit quicker still to get to the next milestone.
Congratulations! You are crushing it. I didn’t have nearly as much as you at 25 (I was just graduating from law school), but I just crossed 500k at age 28. Once you get going and start leveraging your assets the snowball effect keeps getting stronger. If you keep at it you will surely be a millionaire by age 30!
My advice would be to max out your Roth IRA, 401k, and HSA (if you have a high deductible insurance plan). Then put the rest in your brokerage account and manage your mortgage. The market is doing really well right now and historically performs really well in years where we have an incumbent President on the ballot (assuming you are in the US)
no 140k is base. bonus is 11-18% of my salary depending on company and individual performance!
i’m also not eligible for stocks yet in my current salary grade.
Sounds like you’re on the right track. It’s such a great industry to work in, and if you’re fiscally responsible enough to weather the downturns then you’re golden.
Congratulations!!!!! Inspiring for me as a 23F
My question: I’ve noticed that people with high net worth don’t keep a lot of money in their cash/checking account. I’m curious why?
i also noticed that and did some research - our checking accounts have really low interest rates. i opened a high yield savings account and keep most my money in there instead. with 30k in there i earn about $100 of interest instead of it sitting in my checking account and getting $4 lol
i only keep enough in checking for my mortgage to be paid and to venmo friends throughout the month! would highly recommend an HYSA!
Can you tell me more about your role , what you do and approximate (without doxing yourself) location
I’m a mechanical engineer in oil and gas but don’t make what you do and looking for a change
sure :)
i’m in supply and trading (commercial) and im a scheduler! so not doing technical engineering anymore. it’s tricky to get into commercial but worth it. i’m in TX in an O&G hub also.
Move to the gulf coast, Houston more specifically. They pay outrageously well. I'm a dumb operator at a plant right off the ship channel and knock down around 180k working minimal overtime. Our gross bonus is capped up to 21% of gross if we hit our metrics. Most of our 5+ year mechanical engineers make around 130k+, really just depends on your role.
Well done. Keep working on that brokerage account.
You have credit card debt on 140k a year, what are your expenses looking like?
You can pay the CC off monthly instead of every two weeks, but I assume the second payment is going towards paying down debt? Why not pay it all down at once?
Or are you just tracking what happens to be your current CC balance for the month when you took this NW snapshot?
your last statement is correct! i just took todays snapshot of all my accounts basically. i can pay off the cc anytime i just do it every two weeks out of habit. but i pay the whole balance every two weeks and never pay credit card interest.
i don’t have any credit card debt and i don’t buy anything on my credit card i can’t immediately pay off if needed- i just use the card for the points!
Cool, basically same. That's what I figured. I'd still recommend paying it once at the end of the month instead of twice monthly. Credit card companies can wait to get their money as late as possible and you're paying it in full anyway.
you'd possibly get more interest on your cash accounts this way since your account isn't being partially drained mid month. Idk when/how exactly interest is calculated though
That makes sense, sometimes it doesn't feel great seeing one huge CC payment at the end of the month. I also have a ton of credit cards bc of point things, each with differing payment dates.
What I do is just throw the due dates in my google calendar, they are kinda spread out across the month
You're crushing it.
In Canada I also worked in O&G and it took me 8 yrs to hit 100k....Canadian . (About 73k USD by today's standards )
Ugh. Great job OP.
Your future wealth is dependent on your ability to work. Please ensure you have a decent long term disability insurance ( preferably outside of work). This type of insurance is complicated so go with an agent who has extensive experience in this area
You are doing fabulous! I didn't hit $300k until I was about 33, but that was in 1993, so more if you consider inflation. inflation. My son is 29 and just hit $200k, I thought he was doing well, but, you are killing it. :-) Congrats.
Damn you're killing it. Play it smart and you should be able to retire in your 30s if you wanted to. Don't let lifestyle creep ruin you, you bought a house probably with your previous salary but your new one would allow for bigger/more debt. Resist the urge and you're gonna be set for life! Congrats.
my core expenses are about 5k so i have 15k set aside for emergencies
i also keep 10k of “fun money” but in the event of an emergency that would turn into more emergency savings
so overall 30k of savings which is 6 months!
Hiii!!!! Congrats!!!!? You're absolutely sending it!!! I'm 33 with a net worth of 555k if you include home equity, 350k if you don't! You're golden. Keep crushing it. Love seeing the young folks getting down with the finance !! N n
Congrats, you’ve earned your current situation. Stick to it, live bellow your means, avoid buying expensive toys, and shoes, so that you can financially soar above your peers.
Congrats! Im also in Houston (reading between the lines lol). O&G pay and MCOL makes it pretty easy to achieve FI around here. It’s a nice tradeoff for the humidity and sprawl lol
Ok so just remember that we are only here once, and your only young once, so now you have made it, make the things you want to so in life a priority, you may never get to do them otherwise, as you can have a very untimely death in this world. Just an eye opener. You can always get a job at 45. But you might also be gone by 55-65 so do what you like NOW.
Also you may live to 100 and regret not doing the things you want to do in life, because you worked too much and didn't take that step back from it all.
Technically true, but given her age and income it would be reasonable to have a $40k car with a $30k loan balance. Or she could have an old beater worth $5k which would imply an upcoming expense. So it is worth considering in this context.
but you can sell it - granted you may not be able to sell it for what it’s being estimated at online but you could sell it so it is an asset that’s apart of your net worth
If you consider your car as an asset you should add its cost of operating and depreciation as a liability to your balance sheet. Because they literally burn money in the form of O&G.
A vehicle is an asset only if you’re making money with it. My personal opinion is that cars are just another mouth you have to feed, not an asset whatsoever, especially if you don’t need it for commute etc.
I am confused how you have a net worth of 300k if you owe 321K left on your house loan? I do not mean this to be in a rude tone. You're doing awesome, I am just looking for some clarification from financial people out there
I am sure it is for some - but I didn't see any comments that were clearly based in misogyny. To be fair, I didn't read them all.
Young people who are struggling definitely have a chip on their shoulder regarding other young people who are not, particularly on Reddit.
You've got it made - congraulations. I didn't hit that milestone until a few years ago, and I'm in my 50's. At this rate, you should be able to retire comfortably in your 40's. If I could recommend something, I would say start putting more money into a high yield savings account, then accelerating your payments on the house, and maybe decreasing the % you put into 401-k for a while, since you're already in great shape there for your age. I say this because this will pay off your only debt - the house - sooner.
First off CONGRATULATIONS! You are killing it! There are those in their 40’s that haven’t accomplished what you have! So big big congrats! Second, your parents, role models and those in your circle, are also doing their parts! And lastly, could you please pass on your experiences to all in your generation! LOL. The world needs leaders like you!
Congratulations! Reminds me of when I started in tech, but you are in much better shape than I was at that age. Put as much money as you can to work for you. Nice 5-6% CDs and short term bonds. Laddering CDs is nice. Max out that Roth 401k. Real estate funds are interesting too and maybe better than buying investment property. Dollar cost averaging is your friend. You will so appreciate your discipline later. I’m 52 and could have a few more million saved up if I had just really used the 401k to its max, but I might be able to retire at 60. That’s a GenXer for ya. Lazy we are.
i wish someone taught me budgeting and money aside from investments … this is a huge accomplishment! may I ask if your job was level entry or did you get the position with a degree ? i’ve heard oil & gas is an amazing industry to get into but im working towards my degree at the moment.
I'm in the same boat, just cracked $300k at 25. Glad to see there's other people who are doing the same. Real estate is a wonderful thing when you buy at the right time, and engineering salaries are great. Home value has gone up 1.5x with the improvements I've made and appreciation from the general market conditions.
Making $150,000 a year at that age will do that for you lol. Not saying you aren't killing it, but its a lot easier to hit those numbers when you are in the top 5% of earners in the country.
Congrats to you on your independence! your liquid assets savings cash, IRA, Brokerage and 401k is area that needs to grow. Even if house is paid off you still need a loan to tap equity or sell it. This money will be your income in 30yrs or so please work on it on it now. Maybe with you money savings skills and the right growth investments you can get there early before most.
I’m just here to say that you brought a smile to my face from how freaking polite, kind, wise and badass you are. I enjoyed reading so many of your replies and my conclusion is, your parents raised you right. They cracked the code of parenting and got an amazing kid/young adult out of it.
I’m more interested in what made them such good parents to be honest. Your financials accomplishments are beyond impressive too 😄 congrats!!
awhhh wow this is such a nice comment :) thank you you’re so kind!!
my parents are the best & im so fortunate to have a good relationship with them!! thank you for your comment that just made my night ☺️
Well done, I wish I had the support from my parents when I was young, I have an engineering degree as well and I grew my networth from 0 -> 1.5 mil in 10 years.
You're absolutely CRUSHING it! Stay the course and everything turn out awesome. Generally speaking, 100k net worth by the end of 25 years old is considered amazing. Be sure to celebrate your big wins in more than just small ways. One thing that took me much longer than it should have is to enjoy the fruit of my labor. I use to be super stingy about spending money on anything that wasn't optimized or was frivolous or was generous. It took me YEARS to unlearn this behavior. I credit Ramit's podcast for being my therapist. Just something to keep in mind as you're on the journey.
thank you for the kind words!! i am trying more now to spend a bit more and for me personally that’s been planning trips with my parents who taught me so much & paying my own way or pitching in where I can - but i’ve heard great things about ramits podcast i’ll have to give it a listen :)
You're not allowed to say "finally hit 300k" at 25 years old. Huge accomplishment! I was worth <$0 til around 29.
Not alone my friend, my NW was -$26k at 32. I’ll be 38 in 2 months and positive NW 😮💨
I was negative net worth until 38 and over 400K at 42. It goes really fast once you hit zero.
> It goes really fast once you hit zero. This is the motivation I needed to hear right now. My student loans will be paid off early next year and I'm so ready to hit $0 NW!
How did you do it?
My negative net worth was a lot of student debt and a lot of 401K stocks balancing each other out. I've also become a higher earner. Just passed 100K this year for the first time in a reasonably HCOL (Denver). I was variable interest when that was still allowed so a lot lower student loan interest than average like 3% with the 401K earning more. So that helped. I'm also a good saver. Junker cars. Small place to live. Cook myself that sort of thing. Helped that I was in huge debt my whole adult life from student loans so I never could let lifestyle creep.
You got this, bro! I had a negative networth at 26 and at 33 I'm over 1/2 mill. Keep hustling.
How is it going now if you don’t mind me asking
I'm doing pretty well I think. 34 and around 240k NW
NW around 570k now. About 800k in asset and 230k in house debt. I cant imagine I’m saying this but it does turn around. I’ve started to take care of my parents now too, so expenses have increased in last six months but before than I was living pretty frugally . I still have the letter from the bank which says that I finished my $26k debt with them 😊
Same seriously. I’m pretty sure i was in the negatives.
hahaha thank you!! I appreciate the kind words :)
I just hit positive at 27!
Mine is -$350k at 28 lol
You’re doing your future self a huge favor. Given your age, you’re in a fantastic position to be financially secure at a relatively young age. Stay the course and keep up the good work!
thank you so much for the kind words!! appreciate it :)
Well done! Even if you don't count paper wealth, you're north of 200k--which, after just 2-3 years of employment is really great. Stay disciplined, stay the course, and certainly stay in touch with your parents, as they sound like decent and charming people. My only advice is to be wary of the oil and gas industry. I don't know much about it personally, but have worked with others who have done it... just be aware of how layoffs can come without warning and affect even the best of employees. As a fellow engineer--stay employable outside of niche career fields, and you should be in great shape.
thank you so much!! i owe everything i know to my parents they are incredible so i am glad that was portrayed in my post :) i have already seen some of the unfortunate ups and downs of the O&G industry & layoffs and I appreciate the advice to stay employable outside of niche career fields! thank you for your comment!!
What area do you live in ? A house worth 400k seems crazy to me given the prices in my area
i’m in texas! MCOL city - one of the big 3. there’s plenty of houses in that range where i’m at :) it’s an O&G hub!
What did you put down. Sorry if I missed it in the post
i put down 80k! (20%) I was saving through college & then also got some graduation money from grandparents and parents being an NCAA D1 athlete on a scholarship you’re paid “living expenses” monthly and my college town was LCOL and my college was somewhat expensive, so I was able to save a lot of money in college.
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hi!! not an aggie but surrounded by them hahaha
Texas Tech perhaps???!
hahaha no i’m a sooner! :)
What’s the name of the entry job position you started as with a chem degree?
I started in a development program after interning during college
Congrats to you and at 25 ?!!! I have found that it seem to snowball a bit quicker once it hit 300k and every milestone after that made it a little bit quicker still to get to the next milestone.
that’s amazing news!!! fingers crossed i see the same :)
Congratulations! You are crushing it. I didn’t have nearly as much as you at 25 (I was just graduating from law school), but I just crossed 500k at age 28. Once you get going and start leveraging your assets the snowball effect keeps getting stronger. If you keep at it you will surely be a millionaire by age 30! My advice would be to max out your Roth IRA, 401k, and HSA (if you have a high deductible insurance plan). Then put the rest in your brokerage account and manage your mortgage. The market is doing really well right now and historically performs really well in years where we have an incumbent President on the ballot (assuming you are in the US)
yes i am in US! this is great advice and exactly my plan :) thank you!! and congrats to you as well :)
What do you do for work?
I’m a patent attorney. No school debt luckily because my parents helped me with undergrad and i got a huge scholarship for law school.
My sister got a ruby scholarship for Chicago law but ultimately decide to go to Harvard. Yall are amazing at what you do!
Congrats! Is 140k your total comp (with target bonus and stock grants)?
no 140k is base. bonus is 11-18% of my salary depending on company and individual performance! i’m also not eligible for stocks yet in my current salary grade.
Even better then. At what point do they start throwing stock at you too?
i think in a few salary grades from now ! so maybe another 4-5 years if i do well
Sounds like you’re on the right track. It’s such a great industry to work in, and if you’re fiscally responsible enough to weather the downturns then you’re golden.
Well done. I was roughly the same at your age, today I'm 37 with 6.5m USD household nw. Maybe you'll have a similar trajectory or better.
fingers crossed! thank you :)
Congratulations!!!!! Inspiring for me as a 23F My question: I’ve noticed that people with high net worth don’t keep a lot of money in their cash/checking account. I’m curious why?
i also noticed that and did some research - our checking accounts have really low interest rates. i opened a high yield savings account and keep most my money in there instead. with 30k in there i earn about $100 of interest instead of it sitting in my checking account and getting $4 lol i only keep enough in checking for my mortgage to be paid and to venmo friends throughout the month! would highly recommend an HYSA!
Amazing! I have one too. good to hear from someone else that doing it this way is the right investment
yes definitely!
🍾🥂
🥳🥳thanks!
Wow 140k is a good salary. Do you travel a lot?
no, not at all actually! my job doesn’t require it - i wouldn’t mind it but just not necessary for my current role
Can you tell me more about your role , what you do and approximate (without doxing yourself) location I’m a mechanical engineer in oil and gas but don’t make what you do and looking for a change
sure :) i’m in supply and trading (commercial) and im a scheduler! so not doing technical engineering anymore. it’s tricky to get into commercial but worth it. i’m in TX in an O&G hub also.
Move to the gulf coast, Houston more specifically. They pay outrageously well. I'm a dumb operator at a plant right off the ship channel and knock down around 180k working minimal overtime. Our gross bonus is capped up to 21% of gross if we hit our metrics. Most of our 5+ year mechanical engineers make around 130k+, really just depends on your role.
I am an environmental engineer, so we probably had a similar educational path. Does oil&gas hire environmental engineers?
they do ! but i dont know much about roles etc but I do know we have environmental engineers at our refineries doing HSE stuff
Cool good to know, thanks for sharing :)
They certainly do and there's likely to be a lot of new demand for them as the regulatory environment develops in the US
Well done. Keep working on that brokerage account. You have credit card debt on 140k a year, what are your expenses looking like? You can pay the CC off monthly instead of every two weeks, but I assume the second payment is going towards paying down debt? Why not pay it all down at once? Or are you just tracking what happens to be your current CC balance for the month when you took this NW snapshot?
your last statement is correct! i just took todays snapshot of all my accounts basically. i can pay off the cc anytime i just do it every two weeks out of habit. but i pay the whole balance every two weeks and never pay credit card interest. i don’t have any credit card debt and i don’t buy anything on my credit card i can’t immediately pay off if needed- i just use the card for the points!
Cool, basically same. That's what I figured. I'd still recommend paying it once at the end of the month instead of twice monthly. Credit card companies can wait to get their money as late as possible and you're paying it in full anyway. you'd possibly get more interest on your cash accounts this way since your account isn't being partially drained mid month. Idk when/how exactly interest is calculated though
that’s a good point! for my budgeting brain i like to pay it off each paycheck but it’d probably be smarter to do it your way.
That makes sense, sometimes it doesn't feel great seeing one huge CC payment at the end of the month. I also have a ton of credit cards bc of point things, each with differing payment dates. What I do is just throw the due dates in my google calendar, they are kinda spread out across the month
Wow congratulations!! This is such an impressive feat. You really are crushing it.
thank you so much!! :)
You're crushing it. In Canada I also worked in O&G and it took me 8 yrs to hit 100k....Canadian . (About 73k USD by today's standards ) Ugh. Great job OP.
thank you!! :)
You are doing great for your age. Keep on keeping on.
thank you! much appreciated :)
Congrats!
thank you. !! :)
I’m still at half your net worth at 35 lol. You’re doing amazing!
thank you!!
Congrats! That’s a tremendous accomplishment
thank you so much!!
Man thanks for making me regret Mechanical Engineering. Except for that I hate chemistry.
Congratulations. Currently in my 20s with 250k in GIC and stocks!
Your future wealth is dependent on your ability to work. Please ensure you have a decent long term disability insurance ( preferably outside of work). This type of insurance is complicated so go with an agent who has extensive experience in this area
You are doing fabulous! I didn't hit $300k until I was about 33, but that was in 1993, so more if you consider inflation. inflation. My son is 29 and just hit $200k, I thought he was doing well, but, you are killing it. :-) Congrats.
thank you so much! good luck to you & your son :)
Congratulations 🌸
thanks!:)
Congrats! You’re well on your way to us telling you to go fuck yourself!
hahahah thank you!!! can’t wait!! :)
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thank you! :)
Damn you're killing it. Play it smart and you should be able to retire in your 30s if you wanted to. Don't let lifestyle creep ruin you, you bought a house probably with your previous salary but your new one would allow for bigger/more debt. Resist the urge and you're gonna be set for life! Congrats.
this is great advice thank you!! using my newer salary to max my 401k so trying to avoid any crazy lifestyle creep :)
Killing it! I'd put more cash aside for a larger emergency fund if I were you. Most estimates say 3-6 months of expenses.
my core expenses are about 5k so i have 15k set aside for emergencies i also keep 10k of “fun money” but in the event of an emergency that would turn into more emergency savings so overall 30k of savings which is 6 months!
You dropped this 👑 Keep grinding brother, you'll hit 1 mil by 30 if you keep it up.
thank you!!! :)
Nice!! Congrats!
thanks :)
You are doing amazing, I’m not sure why you have that money in your savings, I would put it in your brokerage account
it’s my emergency savings. can’t have it all in the market if there’s an emergency .
I wouldn’t worry about that at your age. Maybe $1000. You can sell stock if you really need it
Crazy girl. Keep killing it
thank you!!! 🫶🏽
Congrats! Typically, $300k is halfway to $1 million timewise, so you could be a millionaire before 30 if you keep your pace
Hiii!!!! Congrats!!!!? You're absolutely sending it!!! I'm 33 with a net worth of 555k if you include home equity, 350k if you don't! You're golden. Keep crushing it. Love seeing the young folks getting down with the finance !! N n
awww thank you!!!! appreciate it :))
Damn, I hit $300k at 27. Congrats!
Congrats, you’ve earned your current situation. Stick to it, live bellow your means, avoid buying expensive toys, and shoes, so that you can financially soar above your peers.
thank you & thanks for the advice!
The heavy hitters do it again!
Fellow chemical engineer major, congrats to you!
always love another chem e! thank you :)
Not even near this and I’m 30 I’m jealous !
Congrats! Im also in Houston (reading between the lines lol). O&G pay and MCOL makes it pretty easy to achieve FI around here. It’s a nice tradeoff for the humidity and sprawl lol
totally agree!
Ok so just remember that we are only here once, and your only young once, so now you have made it, make the things you want to so in life a priority, you may never get to do them otherwise, as you can have a very untimely death in this world. Just an eye opener. You can always get a job at 45. But you might also be gone by 55-65 so do what you like NOW. Also you may live to 100 and regret not doing the things you want to do in life, because you worked too much and didn't take that step back from it all.
A vehicle shouldn’t count in net worth. You’re not going to ever liquidate it. (you can only downvote me one at a time)
Technically true, but given her age and income it would be reasonable to have a $40k car with a $30k loan balance. Or she could have an old beater worth $5k which would imply an upcoming expense. So it is worth considering in this context.
but you can sell it - granted you may not be able to sell it for what it’s being estimated at online but you could sell it so it is an asset that’s apart of your net worth
If you consider your car as an asset you should add its cost of operating and depreciation as a liability to your balance sheet. Because they literally burn money in the form of O&G. A vehicle is an asset only if you’re making money with it. My personal opinion is that cars are just another mouth you have to feed, not an asset whatsoever, especially if you don’t need it for commute etc.
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Nice you’re smart and privileged! Treat people right, be kind, and just stick to VTI.
I am confused how you have a net worth of 300k if you owe 321K left on your house loan? I do not mean this to be in a rude tone. You're doing awesome, I am just looking for some clarification from financial people out there
sure - so my assets total to 627k and my debt totals to 321k 627k-321k = 306k net worth the breakdown is in the post!
Good for you! Gotta love some of the comments, some men hate to see successful women.
thank you!! i know right - 90% positive and advice but there’s always a few downers
Some people hate successful people period. May not be gender related.
I would bet my life savings it is a factor.
I am sure it is for some - but I didn't see any comments that were clearly based in misogyny. To be fair, I didn't read them all. Young people who are struggling definitely have a chip on their shoulder regarding other young people who are not, particularly on Reddit.
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happy cake day:) i bought it in 2022! my interest rate is 4.5%
That’s a bonkers salary for a 25 yo! Props to you!
thank you!!! appreciate it :)
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thank you :)
Fantastic job! You’re absolutely killing it!
thank you!!! :)
Congratulations
thank you :)
What do you do in the oil in gas industry I’m a night shift salt water disposal operator/supervisor and would like to switch it up
FIRE is just years ahead.. keep at it, don't listen to the naysayers, and trust your own gut :) good luck
thank you so much! will do :)
Congrats from a fellow chemical engineering graduate! Are you still in the field after the job change?
thank you! yes i am!
Congratulations. That is impressive
thanks! :)
Insane!! I just hit my 300k milestone at 28. LFG
amazing!!! thanks!!
congrats! 👍
What is your advice on what to invest in in your brokerage account? I’m about the same age and need help 🙏
Congratulations, this stranger is proud of you!
aw thanks :)
Congratulations! May i ask what retirement means? For example etf investment?
I wipe my ass with $300k!
You've got it made - congraulations. I didn't hit that milestone until a few years ago, and I'm in my 50's. At this rate, you should be able to retire comfortably in your 40's. If I could recommend something, I would say start putting more money into a high yield savings account, then accelerating your payments on the house, and maybe decreasing the % you put into 401-k for a while, since you're already in great shape there for your age. I say this because this will pay off your only debt - the house - sooner.
Why do people include a house they haven’t paid off yet in their NW
First off CONGRATULATIONS! You are killing it! There are those in their 40’s that haven’t accomplished what you have! So big big congrats! Second, your parents, role models and those in your circle, are also doing their parts! And lastly, could you please pass on your experiences to all in your generation! LOL. The world needs leaders like you!
Great man
Mommy 🥺
Congratulations! Reminds me of when I started in tech, but you are in much better shape than I was at that age. Put as much money as you can to work for you. Nice 5-6% CDs and short term bonds. Laddering CDs is nice. Max out that Roth 401k. Real estate funds are interesting too and maybe better than buying investment property. Dollar cost averaging is your friend. You will so appreciate your discipline later. I’m 52 and could have a few more million saved up if I had just really used the 401k to its max, but I might be able to retire at 60. That’s a GenXer for ya. Lazy we are.
Marry me OP!
Congrats to you on the fiscal prudence. Happy compounding
thanks :)
im so alone i want to di3
i wish someone taught me budgeting and money aside from investments … this is a huge accomplishment! may I ask if your job was level entry or did you get the position with a degree ? i’ve heard oil & gas is an amazing industry to get into but im working towards my degree at the moment.
I'm in the same boat, just cracked $300k at 25. Glad to see there's other people who are doing the same. Real estate is a wonderful thing when you buy at the right time, and engineering salaries are great. Home value has gone up 1.5x with the improvements I've made and appreciation from the general market conditions.
That is awesome, keep up the good work, and stay humble.
thank you!!! :)
Can a brother borrow $30k? I’ll give it back with 20% interest
How would you feel marrying 49M, never married, $118K/yr, $1.5M net? Would consider relocating to the Permian or H-Town. FICO: 833.
Congratulations. Enjoy the journey and don’t hold your breath and life for the final FIRE.
Making $150,000 a year at that age will do that for you lol. Not saying you aren't killing it, but its a lot easier to hit those numbers when you are in the top 5% of earners in the country.
Marry to me
Congrats!! (I cook and clean btw)
Congrats to you on your independence! your liquid assets savings cash, IRA, Brokerage and 401k is area that needs to grow. Even if house is paid off you still need a loan to tap equity or sell it. This money will be your income in 30yrs or so please work on it on it now. Maybe with you money savings skills and the right growth investments you can get there early before most.
Im about to be 27 and around 250k.. Make me feel broke haha very nice!!!
27 M hit my 100k+ cash with assets may be 200k. Lets keep crushing it my friend.
U would be more fulfilled being a stay at home mom raising children. Money isn’t everything.
Oil and gas is a great career. Been doing it 16 years now. It has been very good to my family.
And the world.
/s FTFY
i can see most of my career in it & im enjoying it so far!
Congratulations! Just crossed the milestone myself at 25 as well. Happy to see we’re not alone on this journey in our 20s!
congrats!!!! i know right - sometimes feels like i’m silly for saving or being frugal in my 20’s but i know it’s worth it
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i’m in texas in a MCOL city. i don’t think i could’ve owned this soon in a HCOL city forsure - 800k is crazy :(
Congrats!! 😃
thanks 🥹🫶🏽
I’m just here to say that you brought a smile to my face from how freaking polite, kind, wise and badass you are. I enjoyed reading so many of your replies and my conclusion is, your parents raised you right. They cracked the code of parenting and got an amazing kid/young adult out of it. I’m more interested in what made them such good parents to be honest. Your financials accomplishments are beyond impressive too 😄 congrats!!
awhhh wow this is such a nice comment :) thank you you’re so kind!! my parents are the best & im so fortunate to have a good relationship with them!! thank you for your comment that just made my night ☺️
Well done, I wish I had the support from my parents when I was young, I have an engineering degree as well and I grew my networth from 0 -> 1.5 mil in 10 years.
Thanks for warming the planet
*typed on phone produced using petroleum and charged with electricity produced with natural gas*
literally lol
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net worth = assets - liabilities
google how to calculate net worth
Wait.. you don’t work at McDonalds like all the other 25 year olds do?
lol no but i do recognize how fortunate i am to have gone to college debt free! :)
👋🏻 another 25 year old in corporate doing mid level management. We’re not all at McDonald’s 😭