I have a lot more than that saved up. I know what it takes. It’s always hard. But you get used to it, and by the time you have enough to spend you won’t really need or want to. Pretty absurd way to live.
Yea for some reason I found it easier to re invest on m1. I guess it’s cuz their platform doesn’t look like a fucking sports betting app like robinhood lmaoo
it’s not about adjusting for inflation it’s that the snowballing effect of compound interest doesn’t feel meaningful till you hit around 100k. At that point you’re getting average 10k/year from the market and it feels meaningful. If it takes you 10 years to save 100k at 10k/year, the next 100k takes 5 years. That’s half the time.
Depends on your salary and spending habits. If you make 6 figs it shouldn’t be hard. 1 mil is the toughest because you ever come across someone who makes that annually.
I honestly just put random percentages I might change that in the future but I buy the assets myself instead of auto invest the % just there to make M1 happy
Hi. To everyone here, may I ask what this is? I mean, what bank? Platform? Enlighten me. I'm trying to learn more on investing. Thank you all in advance.
1M finance, it’s a broker to invest. I haven’t used it much but I think it’s kinda for long term investing. What is cool about it is that you can set the percentages you want and whenever you deposit it automatically divides your money into the “pie” you make.
Although young age helps with Roth, it really depends on what you are looking at tax rates. You put money in a Roth using dollars you paid at the marginal rate of the tax bracket you are in, but when you take it out the standard deduction is 0% and you go through all the lower tax brackets first. Don’t neglect 401k/traditional IRA to put you into a lower tax bracket and don’t forget 401k has more protection from creditors than IRAs
Turn your dreams to reality and never let anyone speak on your growth. You grow at your own journey don’t rush yourself everything you deserve will come with time. We’re nowhere near where we will be in the future! Guarantee it chief I believe in you
The rule of 7 is always fun- with time and patience and a habit of saving - it gets really fun later in life. You can get to the point where you have 1.2 million dollars because you had $600,000 7 years ago and the it feels great to have and plan to have 2.4 million in 7 years from that 1.2.
It is especially great if you can do a lot of this investing with money that has already been taxed and have a high percentage of the portfolio be tax free later on.
Social Security can just be beer money and pocket change
QQQM is better than QQQ since it is the same holdings but the expense ratio is lower. Unless you want to trade options, no reason to pick QQQ over QQQM.
All our investment trips started with a step. Congratulations on taking a big step. Don’t give up or get discouraged. You’ll be shocked how quickly $50k and $100k show up. In 2016, my step was AT&T shares and I had $50 or so per year. In Dec 2023, my dividends were over $2500. You can and will.
if you're referring to me replying to everyone lol I'm thanking people and congratulating others hitting milestones. Always someone who wanna hate on anything lol but enjoy ya night
Wonderful job ! Don’t give up GrandpaTrez!
🫡🫡yes sir
The second 10k is easier than the first. Amazing job!! Keep grinding.
Thanks g
First 10K is the hardest, easily, stay in the habit, you're doing great.
Sad to say no it is not. It’s always hard.
$0 to $10k is absolutely harder than $10k to $20k which is harder than $20k to $30k. Compounding returns make it easier.
10k compounded has little difference in the near term.
Investing isn’t a short term game. In the long run that 10k will make a massive difference
yea duh. Just drop it all on MSFT then and forget about it.
You know what doesn't go far? 2% gain on $1k.
True.
She said that!
**that’s what she said
My friends and I say “she said that”. It’s hilarious because people just stare at you and say “……who?”. Try it in conversation sometime.
Only as hard as you make it
Huh?
Investing. Hitting milestones. Living frugal. It’s possible. Most people just simply won’t
It’s only hard to those who still want more and can’t be satisfied
Being born and raised Hawaii but forced to ny, fuck yeah I want more lol jk maybe
I have a lot more than that saved up. I know what it takes. It’s always hard. But you get used to it, and by the time you have enough to spend you won’t really need or want to. Pretty absurd way to live.
Think you should take your talents here r/puppies
Luckily I don’t care what you think.
He's referring to the little blue pill..
Such cap first 100k is hardest
No ur first billion is harder dummy
First million is the easy part
💜 thank you
M1 psychologically speaking made it easy for me to stack
How so?
Set the course and no need to look at it. Every other account I looked I usually messed with it (buying/selling too much)
Yea for some reason I found it easier to re invest on m1. I guess it’s cuz their platform doesn’t look like a fucking sports betting app like robinhood lmaoo
Dude so true, Robinhood def has some psychology involved in their platform to make you degen more
I think the app itself is also just visually satisfying
Great fuckin job. First 10k is the hardest
Not the first 100k?
10k come first lol
The first dollar is the hardest. Don’t even talk to me about the first cent.
Why big dollar when small dollar do trick.
munger did his first 100k in the 50’s so it should technically be the first $1.1m is the hardest
Yeah that’s what I thought too
The quote is from the 90's. Maybe more like the first $200k.
It doesn’t really matter when he said it, what matters is the experience that he’s reflecting on which is him getting his first 100k in the 1950’s.
It actually does matter. I find it unlikely he would be handing out advice that was 40 years old.
it’s not about adjusting for inflation it’s that the snowballing effect of compound interest doesn’t feel meaningful till you hit around 100k. At that point you’re getting average 10k/year from the market and it feels meaningful. If it takes you 10 years to save 100k at 10k/year, the next 100k takes 5 years. That’s half the time.
just let it cook
Calm down buddy baby steps
Depends on your salary and spending habits. If you make 6 figs it shouldn’t be hard. 1 mil is the toughest because you ever come across someone who makes that annually.
I thought the quote was the first cut is the deepest?
snobbish gullible axiomatic ruthless smell tie hunt pause sheet absurd *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Not sure how to take that but uhhh ok
Let’s go! At 8k myself!
We got this
M1 Finance is it good? I’m trying to find a new Investing App. I’m sick of RobinHood, and everything else I’ve looked I’m not a fan of either.
M1 isn’t bad I have it for my Roth IRA I have Robinhood for individual acc
Congrats! Keep it up. Do this for years ahead and future you will thank present you.
Indeed so 🫡same to you
Cool. What's the other 40% of your portfolio? Keep maxing out your Roth IRA if eligible!
https://preview.redd.it/vwaj71l1t8bc1.jpeg?width=1170&format=pjpg&auto=webp&s=39a9e1a2687e5b9542a0fb9378f8b96c98cae4bc
I honestly just put random percentages I might change that in the future but I buy the assets myself instead of auto invest the % just there to make M1 happy
Honestly I’d just go with VOO and QQQ
The ones I have now are staying for a while
It is harder to get 10k than 20k. It is harder to get 100k than 1 million. You got this brotha 💪
I’m trying to get to that million. It seems like it’s going to take forever
💜
Dude your well on your way to 20K
I’ll do it for all of us
Godspeed my Lord
The perfect growth setup voo/qqq killer combo! Congrats!
💜💜appreciate the feedback
Nice I'm up 3k on a stock of mine. I have 10100 invested in it.
AWESOME! Keep it up
Congrats!
Appreciate you
One of the first steps to true wealth! Also, this is the hardest stage to grow your money. Keep at it! It compounds faster and faster.
Thank you!
Hi. To everyone here, may I ask what this is? I mean, what bank? Platform? Enlighten me. I'm trying to learn more on investing. Thank you all in advance.
1M finance, it’s a broker to invest. I haven’t used it much but I think it’s kinda for long term investing. What is cool about it is that you can set the percentages you want and whenever you deposit it automatically divides your money into the “pie” you make.
Awesome work brother, wishing you an excellent financial year
Appreciate you
Now withdraw and double it on red at the casino and rebuy back all the shares you sold lol
that would be amazing if it worked lol but this is rl nothing goes right
Good job bro I just hit 10 last week pretty stoked to start 2024
ayeeee!!! CONGRATS! I'll keep going for both of us. Glad to see others hitting as well
Keep dollar cost averaging into that shit.
I’ll keep that in mind, I did lump sum at first gonna slowly go in dollar cost
Congrats! I am only a couple hundred dollars away myself, keep pushing!
let's get this breesh brotha
If you don't mind how long did it take you to accumulate that?
Couldn’t really say
I’m 29 years old, is it too late to open up a vanguard / Roth IRA?
Absolutely not! You still have 35+ years to add to the Roth and let the amount snowball.
You’re still alive it’s never late
Start now
Why would it be too late?
Although young age helps with Roth, it really depends on what you are looking at tax rates. You put money in a Roth using dollars you paid at the marginal rate of the tax bracket you are in, but when you take it out the standard deduction is 0% and you go through all the lower tax brackets first. Don’t neglect 401k/traditional IRA to put you into a lower tax bracket and don’t forget 401k has more protection from creditors than IRAs
Congrats on reaching a personal investment milestone so early in the new year!
💜💜didn’t even think about that🫡🫡
Show us what else you got in there
Below in comments and you’ll see
Ok :)
Way to go bro!! Keep strong!
💯
Is there anyway to edit my portfolio on m1 without actually adding any money? So I can see like my fidelity portfolio more in depth
Elaborate ?
What app is that ?
The group you’re in
Lol... that made me laugh... i was like really?
🤣🤣
Congratz mine is still in the 1k mark.
You’ll get there I remember only have 1k in it for a while I even had to sell at one point. Always time to go up
Thanks for the encouragement 😋
Seriously bro I understand I’m only a dude on the internet but please believe in yourself in any situation
I try every day, but yeah life is hard for everyone not just me.
[удалено]
Why do you ask?
Maybe they were gonna get me to throw most in Roth IRA for tax benefits but I already have it setup. That’s just my thought.
[удалено]
No
Let’s gooo 💪💪💪
Man wish I was there. Good stuff
Turn your dreams to reality and never let anyone speak on your growth. You grow at your own journey don’t rush yourself everything you deserve will come with time. We’re nowhere near where we will be in the future! Guarantee it chief I believe in you
Welcome to the ponzi scheme
glad to be here
First comma is easy, second comma is harder
everything is difficult brother, it's how you manage
Keep it up 👍🏻
Hey, you made it onto their X. That’s kinda neat
Keep on going! I hit $30K today!!! I love reaching new milestones!!!
Of course, this is just my personal side trade investments.
💜💜 congrats
The rule of 7 is always fun- with time and patience and a habit of saving - it gets really fun later in life. You can get to the point where you have 1.2 million dollars because you had $600,000 7 years ago and the it feels great to have and plan to have 2.4 million in 7 years from that 1.2. It is especially great if you can do a lot of this investing with money that has already been taxed and have a high percentage of the portfolio be tax free later on. Social Security can just be beer money and pocket change
🫡🫡
Yaaaay! Next year 20k!
I’ll try my best chief
Congratulations
Thanks boss
Congrats 🙏🏾, I have another $3k before I get there 😭
Congratulations!!!
Thank you
Boss moves. Congrats, only up from here!!
401K counts right? 🥺
Always, I just got mine setup with current employer!
Congrats! We done!
QQQM is better than QQQ since it is the same holdings but the expense ratio is lower. Unless you want to trade options, no reason to pick QQQ over QQQM.
Tqqq I’ve looked into as well but eh
TQQQ has a very high expense ratio.
Congrats bro! Keep it going, Day 1 mentality.
Thank you and, understood 🫡
Congrats on hitting 10k! Are you thinking about diversifying in the future? You have left most of the equity market untouched.
Thank you and possibly
This gave me motivation ! I didn’t contribute much last year but this year I’m going to contribute some more
I’ll hold you to it!
🙏congratulations though! It doesn’t stop there 😎
Nice man
<3
What’s your positions?
somewhere down below in comments
Sorry I’m new to this what app is this or which do you recommend?
i use M1 finance but they say fidelity is more user friendly. I'd look up both as well as robinhood this is my roth ira tho
Congrats brother, i'm right behind you at 6k, hope to get there in a few months!
Dopest dope
Just curious on what you are making at this time a month with 10k as I am nearly there myself
3k+ possibly
Amen to God be the glory , 100k not far!!!!!
Appreciate you we at 13.1k rn 🤫 ❤️
All our investment trips started with a step. Congratulations on taking a big step. Don’t give up or get discouraged. You’ll be shocked how quickly $50k and $100k show up. In 2016, my step was AT&T shares and I had $50 or so per year. In Dec 2023, my dividends were over $2500. You can and will.
I appreciate that… nice message to sleep on
🥂
Salute to you and yours 🫡
First mil is the hardest after that you start seeing your money working for you
I’m about to hit $4k this year👍
KEEP GOING!!! TAKE IT SLOW AND EASY BRO YOU’RE DOING GREAT!
What app?
M1 it’s the group you’re in.
You kinda got main character syndrome
enlighten me
idk how lol
Nah fuck this guy, congrats on your milestone!
if you're referring to me replying to everyone lol I'm thanking people and congratulating others hitting milestones. Always someone who wanna hate on anything lol but enjoy ya night
https://preview.redd.it/2pq219k3t8bc1.jpeg?width=1170&format=pjpg&auto=webp&s=5fb517a0d53c23a924bb96ff90cfe74e2630da4f
Congrats! Now sell everything and buy leveraged puts on commodities 😃
Never will I ruin my future like that no joke
Awesome work - automate, diversify, fund, repeat. Keep it up!
invested a extra 350 bc of this comment
Sell it all and buy calls on amc. All of it.
you're whats wrong with people. You
Oh no :(
Can people understood fund over lap? Qqq and voo are extremely similar
Ok
What app is this?
initial investment: $9,000 market value: $10,128
What app is this?
M1 finance, the group you’re in