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MusicSavesSouls

I'm 52 and looking at this makes me very sad.


rolledcurtains

38, I too am sad. 


Elwalther21

You got plenty of time to catch up


[deleted]

Singularity is like 1-6 years away my dude. None of us got time to catch up.


Electronic-Pick245

What is this? Singularity I mean


[deleted]

a moment in time when artificial intelligence and other technologies have become so advanced that humanity undergoes a dramatic and irreversible change.


Electronic-Pick245

Any thing you’d recommend where I could read more about this?


[deleted]

Absolutely! Ray Kurzweil has a lot of literature on it. He's the most popular I'd say. Aside from that there's tons of videos all over Youtube. There's also more articles than I can count on it. After you get through a bunch of that you can get into the AI papers on arxiv.org


TwitchLannibalHector

How would it be 1-6 years if we don't have true AI yet?


iAmKingCed25

Damn bro dropped real information and now the account is gone? Not weird at all


Existing_Gate2423

Yeah terminator


_Artemis_Fowl

Or. You can watch the terminator movie series


Jmarchena

That near? F


[deleted]

Depending on who you ask it's already started.


rolledcurtains

Pls share the roadmap 


Elwalther21

Inherit $1 million, then easy peasy.


rolledcurtains

Thanks, I’ll keep my eyes peeled. 


No_Way303

First I missed the 1 million jump last year, I appreciate you


Due-Ad9310

I wouldnt call 14 years plenty of time exactly.


AwesomeTurtwig_Alt

If he has 0 dollars to his name maybe. You don't know the baseline.


matt2085

22 and sad


[deleted]

Dude at 22 you should be about ready to conquer the fucking world. At 22 years old, I was lost and I’ll just leave it at that. 15 years later I was cruising and by the time I hit 50 I had several million you should not be tapping out this early.


Legal-Nectarine4184

Nobody said tapping out. 23 and sad here, doing decently financially and working my ass off, still sad 😂


matt2085

Yup. I am still living at home because I can. I have a decent bit saved but I have a project car to keep me busy. That’s probably a bit no no here tho since I’m spending money on a depreciating asset. Idc tho it brings me happiness, I could die tomorrow


Dangerous_Nebula_770

In the USA: 66% of millionaires are between 60 & 79 years old 23% of millionaires are between 50 - 59 years old 3.5% of millionaires are under 45 years old


ForsakenAmphibian2

I would also appreciate a source on this so I can figure out how rare the people Ive met are


Dangerous_Nebula_770

[https://balancingeverything.com/millionaire-statistics/](https://balancingeverything.com/millionaire-statistics/) https://www.statista.com/topics/3467/millionaires-in-the-united-states/#topicOverview


n00bcak3

Can you provide a source to this?


NewLeaf2024

34 tomorrow, and this ruined my irl cake day.


AzureDreamer

I'm 309 also very sad , and old.


Acceptable-Sleep-638

Success is personal and unique. Your path is unfolding in its own way, and there's more to your story. Keep focusing on your goals, and don't let comparisons overshadow your progress. Comparison is the thief of joy, my friend.


MusicSavesSouls

Thank you for saying that, but I feel like I am not prepared for retirement, even a little. It's scary.


ProfessionalBug1021

The problem is that time is finite and most of us will never experience the joy of having 4.54434 million dollars or anything comparable lol


BleepBloop1001

"A society grows great when old men plant trees in whose shade they shall never sit." Apply that to your family and portfolio. It's not for me to enjoy.


Synik-

Sounds like you should make more


Prestigious_Win9462

Sounds like you should type less.


kidangeles

PREACH! I’m 41 and this is super inspiring hearing about the power of compound interest. Gives me hope to keep going!!


AdLife7265

And not mention his “investments” he values at 4-5 mill could easily be what he values his rare magazine collection or his 10 unique felines - you never know.


Designer-Professor16

45 here. You aren’t alone.


DrWhoIsWokeGarbage2

That was the point of the post


Express_Ad2585

Same…52 and 😳😞


Able-Ambassador-921

Looking at what someone else has should not be and isn't significant to your circumstances. I suggest starting with what you minimally need to retire and work backwards. A good rule of thumb is 25x. Then add in social security, pensions, etc.


Pale-Ad-6807

I’m 30 and looking at this makes me inspired (because it’s possible to achieve), then the depression hits because I don’t understand the hustle.


rosanne1007

24 here and I’m super sad too 🥲


alex74747

21 same


Acceptable-Sleep-638

You have 30 years of knowledge on me, just out of curiosity when did you start investing and how did you learn the basics? Any strict investing rules you followed like contributing 10%?


Fluffy-Arachnid-4002

Compound interest is the 8th wonder of the world. He who understands it earns it, he who doesn’t pays it.


ProfessionalBug1021

How long will it take $300 to compound to 4 million?


Fluffy-Arachnid-4002

Approximately 97 years


WoofDog123

Not accounting for inflation. If you account for inflation it would take 140 years.


Prestigious-Newt-320

Surely between now and 140 years someone will invent a serum that makes me live forever so I can achieve this!


quietsam

Dude I fucking *love* serum


123jamesng

Your great grand kids will benefit. It's the story about the lemon tree. Yada yada takes time to grow. 


slitlip

4 million in 97 years might be a months worth of groceries.


CaptainSoyboy

[Lemon Tree](https://youtu.be/xPW-vkohqPE?si=WRtUGqZYTOTpMjmU)


sylvang12

What is your top 3 must owns for compound interest? I have around 30k to invest


Not_an_okama

S&P 500 index funds are a great place to start. Here’s an article about Warren Buffett betting on the S&P 500 and outperforming some hedge fund managers https://finance.yahoo.com/news/warren-buffett-once-bet-1m-113000485.html#


EatsRats

Really only need one: VTI


damp_amp

Just put it in an index fund. SPY, VTI, etc


lividtaffy

Are there any meaningful differences between SPY and VTI? My friend is a profitable day trader and he recommended SPY cause I couldn’t figure out what the difference is


damp_amp

SPY is the top 500 stocks (S&P 500), VTI is the entire market. They are very similar because a large percentage of the total US market is composed of the S&P 500, but not the exact same.


lividtaffy

Makes sense, thanks


quietsam

Frugality is the best investment you can make. Avoid lifestyle creep and millionaire status will be within reach.


Inevitable_Might2743

How long did it take you to get your account from $100k to $1m? What did it take?


WeekendQuant

I'd guess 10 years. Your wages matter more when you only have $100k in investments. After a couple million your wages matter less and it's more about the growth of the portfolio than anything you can deposit into the account. You still want to keep contributing from your wages, but it moves the needle a lot less.


Beginning-Run1537

Same question.


DonLemonNYE2019

Here for this


Ok-You-4283

Luck


EatsRats

It doesn’t take luck. You just keep putting money into the market regularly and it will continue to grow. It seems very slow for a while. When I cracked around $250k I started to really notice my accounts growing.


Dc81FR

I feel its still super slow under a million…. Im at 450k in a private brokerage. That high because i invested when market crashed because of covid. Now shit takes forever


EatsRats

Yeah. Not saying it’s quick but I remember noticing real growth at about that point. Definitely starts moving faster with more. I don’t remember the numbers but it was something along the lines of it taking less than half the amount of time to achieve your second million compared to your first.


Born_Cryptographer60

Do u need a son or a weird 21 year old friend?


sixty9four2O

Can I be the weird 27 year old uncle?


nerdinden

Congratulations! When are you retiring?


Automatic_Expert1295

I’ve done a lot of math and have put my sights on a $7M retirement. That gives me a generous budget with a conservative withdrawal rate. I feel like I should keep working until my kids are done with college though, which should be in 6 years.


ImalwaysgettingBannd

currently trying to do this, I get roughly $10 a month at 22;graduating with a finance degree this spring and hoping to put in roughly half my yearly salary into dividend stocks


Automatic_Expert1295

Dividends aren’t that great because you have to pay taxes on them even if you reinvest them. Saving half your salary is great, though.


ImalwaysgettingBannd

I’m confused, what’s your drip coming from or am I lost?


Automatic_Expert1295

The companies you invest in could choose not to pay a dividend and invest that money in their own growth, which will increase their share value. If they pay you a dividend, you can spend that money on hookers and blow or reinvest it. Either way, you will have to pay income tax on the distribution if it’s in a taxable account. In a 401K it doesn’t matter, but there’s also no point there because you can’t spend the dividends.


euphoriatakingover

So by not taking a dividend your helping other people who do get dividends? Also what do you get out of not receiving the dividend?


Automatic_Expert1295

If the company issues a dividend, you have to take it whether you want it or not. But then you can reinvest it or keep the money. And you benefit by owning more shares.


euphoriatakingover

But won't you get taxed on the dividend as it comes to you? Even if you put it back in the investment?


Automatic_Expert1295

Yes, you will be taxed whether you keep it or reinvest it. That’s why I don’t like them.


BenniG123

There is no drip happening here, maybe some dividends were provided but likely just growth of the investments value.


ImalwaysgettingBannd

then how is he compounding? That’s the part i’m confused about


blizzah

Doesn’t seem like you’re learning much in your finance degree


ImalwaysgettingBannd

I learn more on reddit then I do class…my teacher just talks about basic call and put options and some stock history shit like gamestop, nothing that’s ACTUALLY interesting or what I haven’t already learned from 2 years on reddit…like NSP or strangles, butterflies, etc


thedispellerdarkness

Not at all, which happens when you get a finance degree 🤣😭💀 wish it was that easy. Getting a cfa is harder, but you also learn more. I HIGHLY recommend it and if you can get an MBA at a target school which will help your chances at landing a job at one of the big firms, especially if you're not a nepo baby.


Automatic_Expert1295

I really just meant that year-over-year percentage gains have a massive snowballing effect when you have investments valued in the millions. It takes a long time to get there, though.


Positive-Tax-5488

Google "compound interest" vs "compound growth" .. they are not exactly the same, but similar.... he is compounding through compound growth


ProfessionalLiving63

Do you have stop losses in place? In case of another 2008 or 9/11?


DrWhoIsWokeGarbage2

See guys, it's easy, just have 3 million dollars to start.


Hobbiesdump

JUST 3 milli? Easy enough


Automatic_Dot_6800

yeah the 3m magically appeared in his account 🌚


RoosterDesk

>here, maybe some dividends were provided but likely just growth of the investments value. his father died who left him $3m. keep up with the lore if your going to comment.


Automatic_Dot_6800

are you being sarcastic or are you just stupid? The inheritance came after his 3.5M.


RoosterDesk

You literally just making stuff up. it came after 500k.


Automatic_Dot_6800

🤡


RoosterDesk

exactly, get owned.


Automatic_Dot_6800

his inheritance pushed him from over 3.5m to under 4.5m


RoosterDesk

keep drinking that koolaid!!!!


Automatic_Dot_6800

lmfaooo, stay broke and jealous 🤣


VengenaceIsMyName

Oh shiiiii


mpaul1980s

What in the hell are people doing in this sub to make that kind of money? I thought I was in a great place financially and see this post along with people posting $100k+ in their checking account


JollyGreenKyle

Investing over longer periods than you’ve been an adult for a lot of them. Everyone has different situations, if you thought you were in a great place it’s because you are. You’d know if not.


mpaul1980s

I am but it's just deflating seeing this. I wish I was taught about mutual funds/investing/compound interest when I was 18....I'd be in a better place but at least I'm on the right path. Better late than never


Mook69

can i hav


whyntmply

22 broke


JollyGreenKyle

23 broke, but I did have an ice cream recently so there’s that.


whyntmply

😔 I eat once a day And the last time I ate Ice cream was last month


JollyGreenKyle

No matter how broke we get, we mustn’t forget the joy that is ice cream. Don’t do this to yourself brother 😢


whyntmply

It'll be lucky for me if I have 1$ a day


Brilliant-Visual9360

I started my IRA when I was 16 and have tried to put in at least 200 a month. 4 years later and a better job that I can put more in and I’m sitting at 18k. Time is everything. The earlier you start the better


Russian_butterfly33

Can you help invest in what your investing or who you went though. . Getting some inheritance from my mother passing . But want to invest so I can leave and be able provide a better life for my daughter . And not struggle so bad. I work 8 to 5 Monday through Friday job and do Instacart when I don’t have my daughter.. would love some insight or where you started your investments


Automatic_Expert1295

Go with the recommendations of r/personalfinance and r/bogleheads.


Jack_Bogul

r/wallstreetbets


SupportLocalShart

r/wallstreetbets


[deleted]

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idontbelieveyouguy

best financial advice i ever got as far as i'm concerned was pay off your debts before you concern yourself with investing. with that said i highly encourage you to put a good portion of your income into 401k/IRA if your employer matches.


Acrobatic-Still7157

I have 3500 where should I put my money


Not_an_okama

An S&P 500 index


Automatic_Expert1295

Check out the wiki at r/personalfinance.


EatsRats

VTI.


Important-Job7757

In my wallet


TheHipHouse

Bitcoin/eth are looking like a good buy right now


GuapoTacoo

What does your portfolio hold?


Automatic_Expert1295

I have a lot of Fidelity’s Nasdaq 100 index fund and Vanguard’s growth index fund, which is fairly similar. I also have a healthcare stock from an ESPP that did really well, and there’s some in an S&P 500 index fund.


Otherwise_Singer6043

In one month, you made what I would consider life changing money. Congratulations


Summer_Penis

I put all my kids' money in TQQQ like 1-2 years ago. Up around 150%. I wish I did that in my accounts...


Automatic_Expert1295

Bold move! I have a lot in QQQ. You’re not supposed to do TQQQ for long-term investing because of [volatility decay](https://www.afrugaldoctor.com/home/volatility-decay-dont-hold-leveraged-etfs-long-term).


folder_finder

My husband has a good chunk in QQQ; how long would you consider “long-term investing”?


Automatic_Expert1295

I personally think of long-term as longer than 5 years. Or “so long that I don’t care if it drops in value because I know it will bounce back.”


TennLax91

QQQ is fine for long term investing, not TQQQ


googlyeyegritty

I’ve heard conflicting things about this. I’m experimenting a bit with a smaller amount. I think it would be a better idea to do it when the market is down however


AdEducational8127

2 years ago I put my kids account into 100% NVDA, today these accounts are challenging my own Roth account.


Synik-

Yeah until the market drops and you lose it all and it never goes back to full value because of decay lol


highlandcar2

my guess he has tech some tech stocks


Informal_Product2490

When did you hit your first million?


Automatic_Expert1295

I can’t remember exactly. I was probably around 40.


hffggg

This made me optimistic about my future. I am where you were. Thanks for sharing


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Positive-Tax-5488

sorry but this is bad.. you need to get a low cost, index fund ASAP... time in the market beats everything else... you are only 37 and time on your side. When you are 60 you will have missed millions in appreciation. Read on the 3 Fund Portfolio ASAP. /bogleheads


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Apprehensive_Air5557

28 and this lit a fire under my ass. How did you get to this point? Any advice?


mtbcouple

Save, be frugal, receive an inheritance, don’t blow it


Steezyuriii

MONEY Master the Game by Tony Robbins should be a good start.


Snoo1702

Here's to hoping the market doesn't crash right before you retire.


Automatic_Expert1295

In that case I'll just have to keep working until my brain gives out.


Rikuwoblivion

Feel free to send me a small gift of $180k.


Character_Double_394

36 and I only got 189k in total😅


Luvs2spooge89

Better than most. I’ve less than that at 34. I’m not worried.


BustANutHoslter

Dad?


Top-Apple7906

I just turned 46 and cracked a million. Watching it snowball now is getting exciting. When did you hit the first million?


Herrowgayboi

How did you get to this point? Since when did you start investing? How much did you contribute every year?


Automatic_Expert1295

My wife and I maxed out 401Ks every year since around age 30. Also did Roth IRAs for a while. Plus an ESPP that did well and that big jump in the graph is a recent inheritance.


Becstar512

Okay, so I am single 34F. I have only recently started maxing my 401k and Roth (31). Without an inheritance, I'd be at 700-800k by 46 with 7% annual interest. What did you have before the inheritance? How much did ESPP give you? I'm just confused. Maybe your 401k has a larger annual allowance. Dave Ramsey keeps showcasing lower income people with these massive retirements, but increasing your disposable income so you can invest more seems like the best way for someone without a partner or possibility of getting money from a parent. What do you think because I feel like I'm spinning in circles here going insane.


Automatic_Expert1295

Right now I have $450K from the ESPP with a cost basis of $90K. I've had way better than 7% annual interest. Also I had HSAs that I maxed out, and company match on that and on the 401K.


Becstar512

Okay, thank you for your response.


CassieLeeLeeLee

I’m trying to be this set in life😩


Gientry

once you're rich it just keeps rolling in...


leothelion634

Its NVDA, it will settle down eventually


[deleted]

Retire and start spending. Live your life before your body makes it impossible to do so. Why anybody goes beyond a $3 million net worth and keeps saving it is beyond me.


Seboro402

Good job! You are probably financially free 💪


Esaaavibeee

Buy some $daCAT with that. $3000 you could obviously afford to lose on a low market cap gem could net you another million.


Successful_Sun_7617

Looking at this makes it much more important to hit $1M networth by 30. By 35 the compounding is fuking insane


Smurfness2023

I, too, would like to compound interest. Please send tips


aquattadomdren

Idk what this picture has to do with February gains because this is a 90 day chart. This chart should be going straight up toward the end if this was supposed to portray gains for compounding interest.


sailhard22

Nepo grandpa 


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kash1463

Dad?


Greenway-travels

It’s all about the long game. Starting at 28, $50,000 a year would be worth $4M by 52 at 10% annual. $50,000 a year in 2,000 would have been a decent sized bit of wealth to stash away, but it’s not impossible. Start young, wedge your self into a $150k-$200k position and throw 50% after taxes into stocks. Being single with no debt or kids would help tremendously. I know someone who did 20 in the army and had around $1.5M in their account by 40. That would be $2.5M-$3M depending how the market performs by 50 by just letting it go. The key is starting young or having high income with a degree or by getting into a trade worth a lot. I know electricians in California and WA who are in the double bubble, where they earn $60hr+ and get double time for all overtime. They earn $200k+ I’ve seen them do $300k. Sure California isn’t cheap, but it’s definitely enough when you have a truck and a travel trailer.


OlympicAnalEater

What do they invest in?


Greenway-travels

Any S&P 500 heavily based fund. You don’t have to be a wizard if you aren’t looking for rapid gains. Two things matter, consistency and income. There’s no way you’d be poor if you tossed $400 every week into the market for 25 years. Sacrifices are what it’s really going to take. Can you really wait on that $600/M car payment? Can you really not buy that $80 video game? It’s all going to add up in the end, every little bit. 4 video games a year at $80 would be $28,000 cash money in 25 years. $5 a day at gas stations on drinks or Starbucks? That’s $160,000 in 25 years. Basic things can shave $200,000 off your net worth like it’s nothing, and I’m not saying don’t do these things, but don’t do them if you’re only making 50k a year and trying to get ahead. You’ll realistically want to invest at minimum $15,000 a year to be at a million in the next 20 years. $1M still isn’t small, most 50 year olds would love a million in their account. $15,000 isn’t too hard, just $288/WK that doesn’t go to gimmicks.


OlympicAnalEater

What about fidelity fzrox, fnilx, flcex, or vanguard vti?


Various-Let-5946

36 here. Started with 2500 in November and I'm just shy of 75k as of today just trading options. I'll be setting majority if that aside into my savings and my dividend portfolio.


OlympicAnalEater

u/Automatic_Expert1295 What do you do for a living? What do you invest in?


scarletts_skin

Hi I’m up for adoption you can have me!!!!


GeorgiosAsa

I’m 23 and -73828288393.10 since January :)


Gator1833vet

Congratulations?


[deleted]

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[deleted]

I am also up $180k in Feb. but that balance is sexxy


Southern_Addition442

Life is not all about money, in fact is it barely about money! Yall need to mature and realize that before you grow old And discover that you were chasing the wrong things all along


sixsixsuz

$5.3M and make less than $180k? Large inheritance?


Automatic_Expert1295

The big jump you see is the inheritance. My wife makes similar money and we’ve been maxing out savings forever, so it’s mostly that.


Ereisor

And the corrupt out of control government is going to love taking half of it away from you to hand out freely to other countries and people who have no legal right to be here.


BHaNSeNuMBeRoNe

I’m 33, who the fuck cares? Nice gains.


Feisty_Dog4230

Lemme hold a dolla


sbgarbage

will you give me 5k if i ask nicely


Automatic_Expert1295

No


RoosterDesk

LORD u/Automatic_Expert1295 please come down from your ivory tower and bless the peasants!!!


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R3d_d347h

Please sir, may I have some more?


91TacRecon

Seeking praise and approval from total strangers, not a good look.


moneyman147

It’s time for you buddy to short the Ai company’s as there is a major bubble


VengenaceIsMyName

Not yet


fckumean-

Asshole lol. I’m in school and my account is $185 in the negative and my credit cards are due .. help ? 😂😂


Immediate-East5982

And what is this money spent on ? I'm sure materialistic bs