Today at 34 years, 1 month and 2 days old - I hit 100k in my 401k (with company 4 years), and 1M net worth


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I've been with my company for just shy of 4 years. I started working for them on Sept 28, 2016. I thought I was going to hit 100k in my 401k back in March but damn you Corona virus! Ive been waiting for this day for sometime and also - same day, we hit $1M net worth. I am so damn proud of my husband and I.

Back in 2013, my husband and I bought our first rental property on an FHA loan and 3% down. We lived in a tiny 1 bedroom for 2 years and the first floor covered our mortgage 100%. We purchased our second rental property in 2017, and put 20% down and moved out 1 year later, profiting $1890 between the two properties a month. Now we are living in our 3rd rental property, and have been living well below our means. We save 60-70% of our income which immediately goes into saving and retirement. When all of my friends are purchasing new vehicles, and spending copius amounts of money on their wardrobes, I'm content with spending money on experiences with my family that we will remember forever.

Currently we are looking for a single family home and though we were approved for $700k, I'd feel most comfortable in a home worth $375-$425k. It's simple. Live below your means. I'm proud to say we have $245k in cash just waiting for houses to come on the market. I'm hoping for a housing market crash so we can buy in cheap, but we will see. I have no one to tell, except Reddit but it's 6:35am, my daughter's asleep, we have one more baby on the way (due Jan 2) and couldn't be happier right now.
@bargeld Congrats and very happy for you and your family!

Its is strange how easy and , dare I say, consequence free it is to brag about major/useless purchases, but looked down up on if you talk about how big your savings account is.
@silentzhq The savings account is 100% to purchase a new home with as little of a mortgage as possible. My checking is rarely ever above $500. Once we purchase our forever home, the savings will be depleted and we will need to rebuild.
@bargeld I guess I view it as you moved it from savings and into a house. Value is not gone, just in a different place.

Either way very glad for you!
@bargeld It’s just a liquidity shift! As long as you feel comfortable with the level of liquidity you retains, with your net worth you have nothing to worry about. You have access to credit that few have!
@landonc I tried to submit there and the mods took it down :) I am very into FIRE, but not lean fire. I do enjoy working, and we definitely spend money on things we want, but we've found a great balance and have made some decent decisions. Honestly unsure what I'd do if we FIRE'd, what I would most enjoy investing my time into - but it's exciting to think about!
No full match. Employer matches 7%. Savings is 100% for a down payment for next home. Then it will be fully retirement savings and a safety net savings.
@resjudicata Especially in the same breath as talking about hitting $1M net worth, yikes. It's a good reminder how important a "values-check" is when we start finding success in life. You don't want to wake up being the person hoping for the suffering of others in order to amass more for yourself.

Much celebration for OP and their family for their frugality, hard work, and wise investment decisions though. It really is a great accomplishment.
@billybillyblue That’s where I’m at here in California. We’re saving for a home and would love a good deal and for values to go down but not if it means people are suffering. I want to pay less but I don’t want others to suffer either
@resjudicata Agreed. Don’t be the one dancing while others are suffering. I know OP didn’t mean it like this.

Lots of people want to see the market crash so they can buy cheap. The problem is they are buying from someone who probably just got destroyed and lost a lot. This isn’t a zero sum game but your fortune is often someone else’s misfortune.

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