I’m 27 years old, living in a medium COL area. I finally achieved a net worth of 500k. Of course there are plenty of folks on Blind younger than me who have way more… But most of those people have really high-paying jobs, whereas I’ve never had a high-paying job. So this advice is for people who don’t work somewhere that pays like FAANG. 1. When I was in college, I had no idea about Roth IRA. My parents invested my internship money into a Roth account for me, and continued to do so throughout my early career. MSFT has won me big. 2. I’ve always maxed out my 401k contributions. Remember, the bigger % you allocate from your paycheck to 401k, the less you’re taxed. 3. I take public transit when I can, as opposed to Uber/Lyft. (I don’t own a car, since public transit is pretty great in my city.) 4. Always be on the lookout for coupons, deals, and discounts. If you go to a certain grocery store often enough, sign up for their rewards program if they have one. 5. Take care of your health. Aside from eating right, make sure you use your provided annual physical checkup, 2 annual dental visits (or however many you get), annual eye exam, etc. This will help you discover problems before they become bigger problems that break the bank. Good luck to everyone out there! #personalfinance #investments
Thanks op and congratulations 👏👏👏
Big W!
Nice job! Surprisingly i also hit a networth of 500k this month but im way older than u! Im 35 and work at faang. It took me 4 years to reach this milestone starting from a networth of negative 70k at the age of 31.
Clawing your way out of 70k’ worth of debt is already a huge accomplishment 👏
At 27 I had hit a net worth of zero (from tons of debt) and was immensely proud of that accomplishment. Reaching 500K so young is an incredible accomplishment. Keep your priorities straight and your future is going to be very bright.
May I ask your TC and what stocks you picked in IRA investment?
Does this 500 k include future stocks to be vested?
Congrats OP, well done and thank you for sharing the tips!
Congrats! 3,4 should be replaced with LC&TC They save at most 20k/year
For sure!!!
Ngl if you can get to 500 by 27 it sounds like you have a high paying job 😂
500 at 27 is phenomenal, big congrats op and thanks for your perspective on what really worked for you! I’m a bit younger (23-24) and trying to clear 100 before the year ends, hopefully I’ll be where you’re at when I turn 27!
Good luck! Don’t forget to clip those coupons!