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Is it me, or just the market these days? I max out my retirement accounts (averaged in throughout year) and invest what I can (about 1k a month) in taxable account. All are primarily in index funds/retirement blends. My taxable is in an auto invested portfolio that’s supposed to be more aggressive but is still mostly just an S&P index. I still feel like my net worth hasn’t gone up that much/scaled as rapidly as I’d like. Feels like I’m just flat and have to constantly work without any long term reward. I want to build wealth and am getting impatient. Does anyone have any personal finance tips? TC: 160. Net worth including unvested stock:160. Was 150 in may. YOE: 1
OP since you are new to your career your should be rooting for the mother of all stock crashes. This way you can get more invested while is at the bottom.
Investing in index funds is not a get rich quick strategy. Sorry.
Index funds are for people who check account balances once a year
Perhaps I have false expectations. I think I just want more cash flow and to see my money grow.
Not this year unless you already have a short position.
You have 1 YOE and already at a FAANG with decent TC. You can’t be older than 22-24 unless you did some kind of career change. In which case, it’s normal for you to not even have a net worth lol. Most ppl your age are worrying about paying off their student debt or getting their first job or finishing grad school… not their entire NET WORTH. Any money you invest will not see immediate growth. If it does, expect to lose it the next year. Source: see 2020-2022. All those gains tech people had during pandemic have turned into “losses”. Go figure. DCA and patience. If you want to grow your cash faster, get a real second job or another source of income like the rest of us. No one with 1 YOE is living off their investments unless they are a trust fund baby.
Stocks do not cash flow very good and often go down. Just stop checking and keep buying on a schedule
“I am getting impatient”.... “1 YOE”
How did you get NW of 150k in 1 yoe with a ctc of 160k? I m guessing no student loan and potential heritage? If no, 150k sounds pretty good for 1st yr savings. Rest be patient with market trend
With potential tax evasion
Been investing for a while, and put away most of my signing bonuses. Also I did say this includes unvested stock.
It’s just how it is these days. My NW (excluding my house) was about 1M a year or so ago, now it’s more like 400k. I think it will be like this for a few years due to the global economic conditions. Don’t worry too much. Stay invested and it’ll get better in a few years.
It may go down further in the next year or so. Buckle up
Oof