Recently hit the 100k milestone!

[bonanzaw]

Just wanted to share my progress. 27M single living in H/MCOL and making $100k/yr. I max out my 401k and IRA and try to put in a little in taxable every month. Recently passed the 100k NW and here are the details -

Assets

Checking - $10k

Savings - $21k

Retirement: 401k - $27k ; Roth IRA - $23k ; HSA - Health plan not eligible

Taxable brokerage - $23k

Crypto - $1800

Debt

CC: $1300

No other debts

Total assets ~ $104k

Monthly expenses

Rent and Utilities: $900 (Sharing an apartment)

Groceries and Dine out: $150

Misc: $100

I little background I got my Masters and started my journey in Fall 2019. I’ve been grinding at my job ever since and got raised from $70k to $100k/year. I live a minimalist life and try to avoid over-spending and save as much as possible. I don’t have a car (yet, considering buying it next year).
Only thing kinda worries me is I feel I’m sitting on a lot of cash as I don’t have much expenses so even after maxing all retirement accounts I’m still left with cash that I don’t know what I should be doing. With market at ATH, I don’t feel like putting a lot in the market. Would you recommend diversifying elsewhere like the housing market or any other assets? Any other feedback is always appreciated!

Thank you all for your posts which helps me a lot and also keeps me motivated so just wanted to celebrate my milestone with you guys! Love y’all.

 

[resjudicata]

@bonanzaw Check out /r/financialindependence if you want to retire early.

Check out /r/bogleheads if you want to see a very simple and effective way to invest for long term growth.

 

[bonanzaw]

@resjudicata Thank you, I’ve been following those subreddits

 

[resjudicata]

@bonanzaw You are killing it dude! Congratulations! can I ask what you do for a living?

 

[bonanzaw]

@resjudicata Thanks dude, appreciate it! I studied engineering and work as a design engineer

 

[hailthelord]

@bonanzaw Time in the market always beats timing the market.

Turn automatic investment/contribution on for your brokerage account. Continue to add excess cash into low cost index funds on an automated monthly basis.

Congrats on your 6 figure achievement! Looking forward to your next post update

 

[bonanzaw]

@hailthelord Messages like this makes me wanna be more disciplined. Thank you kind stranger will sure provide an update soon.

Totally agree with you. I have set up automatic contribution for all my account every month. Maxing out 401k, IRA and $1k in brokerage every month. I feel that’s a good amount of investment in the market so feel like I should be diversifying more but investing into other asset classes. Just in case when there is a crash I don’t wanna loose a big chunk altogether cause all my money was totally in the market

 

[lostandafraid]

@bonanzaw It's not lost until you sell. Invest for the long term. Just remember, today's highs are tomorrow's lows. As long as you're diversified across the 11 stock market sectors, you'll be fine.