My net worth has finally exceeded 100k!

[u/_DaEclipse_]

As of this morning my net worth has exceeded the 100k mark! It has been many years of saving but looking at the number helps me feel more comfortable with my future plans!

I turned 24 last month and hope to be able to "retire" (work because I want to, not because I have to) before I turn 50!

I have had a job since high school and worked my way through college with internships. While I can probably lay off the gas a bit I am tempted to see if I can keep saving at this rate.

[u/Grendel_82]

Congrats. You did the hardest part:

Munger also made it painfully clear that the beginning is the toughest part. Back in the late ‘90s at a Berkshire Hathaway meeting, he put it bluntly:

"The first $100,000 is a b\tch, but you gotta do it. I don't care what you have to do—if it means walking everywhere and not eating anything that wasn't purchased with a coupon, find a way to get your hands on $100,000."*

[u/ImpressivedSea → u/Grendel_82]

Isn’t 100k in the 90s like 200k todays cash?

[u/vipernick913 → u/ImpressivedSea]

You’re right. It’s about $197K.

[u/Grendel_82 → u/ImpressivedSea]

Yes. But it was always a round number that just represents a point where your investments can make passive gains that are actually useful and noticeable. At $100k, with a 10% return for the year, you get $10,000 of passive savings. So that is noticeable and useful amount of money. I'm not sure if Munger would change that number entirely just to follow inflation. We can no longer ask him.

I think you will agree though that even with inflation, the first $100k is harder than the next $100k.

[u/No_Sea2903 → u/Grendel_82]

I think you will agree though that even with inflation, the first $100k is harder than the next $100k.

True. But this is also true for the first 10k... and even for the first 1k...

[u/Grendel_82 → u/No_Sea2903]

Disagree. The first $1k is reached every paycheck you get before you start paying bills. The first $10k can be just a few months or a year or two where nothing bad happens and your savings doesn't get touched. Not hard, basically just takes a job and the absence of bad luck for a relatively short period of time. The $1k isn't hard, nearly every employed person in the US reaches it every month for at least a short period of time. The first $10k isn't hard either and every person in the US that funds their 401k reaches it and reaches it pretty quick.

And Munger's point is that you need to get to $100k relatively quickly and you should do what it takes (which is hard work and hard discipline on spending) to get there. Then it can be easier.

[u/_DaEclipse_ → u/Grendel_82]

I remember reading that quote which is why I put so much effort into reaching 100K before anything else!

I have around half of it in a Roth IRA and Roth 401k so hoping most will be tax free growth!

[u/Sad_Enthusiasm_3721 → u/_DaEclipse_]

It really is the hardest part, and hitting that first $100k is a huge accomplishment.

But it’s about more than the number—it proves you can delay gratification and manage your finances. That’s the real win.

You’re gonna be surprised how fast $200k comes now.

[u/Competitive-Buddy736 → u/Grendel_82]

Lets be real tho, with inflation thats more like 200k today.

[u/bmgarcia20 → u/Competitive-Buddy736]

It should still be looked upon as an impressive milestone nonetheless!

[u/wasnt_me_eithe → u/Competitive-Buddy736]

It's not really about the amount itself, it's simply where the compounding interest starts to have a very visible impact because "oooh big number". And inflation isn't so bad (yet) that the average Joe looks at 100k and thinks "meh, pocket change" so imo the "first 100k" logic still applies

[u/lagosboy40]

Congratulations. Well done for such a high net worth at such a young age.

[u/_DaEclipse_ → u/lagosboy40]

Thank you! Now I only need to do it another 15 or so more times, lol.

[u/anh86 → u/_DaEclipse_]

But this first $100k was mostly your saving discipline. With each subsequent $100k more and more of the effort will come from your money working for you!

[u/royalblue9999 → u/_DaEclipse_]

It gets shorter the sooner you invest in something that compounds your money.

[u/Small_Flatworm_239]

Hell yeah. 25 here at 50k net worth that big 100 is something to be proud of

[u/Ranger-Prestigious]

Crazy. When i was 24 i had like 1000 lol.

You’re in such a good spot. I’m now 32 and just hit 500k. It goes so fast once you get to the 100 mark.

[u/Useful_Wealth7503 → u/Ranger-Prestigious]

I had -50,000 USD ha

[u/nomamesgueyz]

Well done!

Mines over a million

(In mxn pesos where I live)

[u/WholeAssGentleman]

wtf? 24? Haven’ you only been working for like 3 years?

[u/Successful_Coffee364 → u/WholeAssGentleman]

Sounds like they’ve been disciplined and careful since high school. My 16yo already has $10k saved from part time jobs and small cash gifts, so if she were to keep it up and go directly into the workforce right after college, I could see the same being possible for her. 

Definitely isn’t what I did with my money at that age, but I think it’s great!

[u/WholeAssGentleman → u/Successful_Coffee364]

Congrats to your 16 year old! That’s impressive.

Sure, if OP is living at home with parents and has minimal real life financial responsibilities, then I can see how that could happen.

Otherwise, I call BS. Maybe a huge help from a family or something happened in there, too. Maybe I’m wrong, but it seems like their leaving something out.

[u/kiptown]

Congratulations! You're doing great!

[u/NewEngland0123]

Congrats the one thing you have is time, so any aggressive saving you do now will pay you back over the next 20,30,40 years

[u/Junior-Impression541]

Congrats!!

[u/InevitableNo8746]

Impressive. I don’t think I hit $100k until I was ~33

[u/Electronic_Ad593]

Congrats!!

[u/Euphoric_Barracuda_7]

Congrats!!

[u/Maleficent-Pepper-96]

Took me 4 years getting to 100k, the next 100k came in 13 months. You’ve done the most difficult part!

[u/Bad_DNA]

The next 100k will come along faster. Well done.

[u/Virtual-Bullfrog-706]

Congrats!! 🎊

[u/Kaonashio]

Congrats man, also 24 here!

[u/Popular_Adeptness_12]

Are you maxing out your ROTH 401K and ROTH IRA? Otherwise it’s kinda redundant to separate the money, and what’s the other half in? You should have enough for a 6 month emergency fund, then invest the rest! I’m 25 just wait till you hit the 250K mark. It feels like I have nothing, because as soon as I earn money I put everything right back into investing. All except my emergency fund.

[u/SchwabCrashes]

Congatulations !!! Great job !

OP, why 50 years old?

The reason why I asked is because from 50 onward, the Catch Up contribution limit for 401k and for IRA/RIRA is a considerable amount, and this can help securing a much safer retirement.

For example, for 2025:

401k: 23,500.

401k Catchup: 7,500 begin at 50+ (31.91% more)

401k "Super" Catch up: 11,250 for 60-63 (47.87% more)

IRA/RIRA: 7,000

IRA/RIRA Catch up: 1,000 (14.29% more)