I’m having a hard time making these numbers work. Two possible scenarios are 40K savings per year with an annual return of 20% or 70K a year savings with a 10% annual return…plus umpteen variations.Starting place:
2015/21yo/graduated college: ~$5000
My parents were able to pay for college at my small college and I started with only a small amount saved from internships. Enough to get a downpayment on an apartment. I got a degree in a social science and got a job in an IT role which I have worked into a role in Software Engineering Management.
I don't have good enough numbers to estimate between 2015 and 2019 when I started tracking Net Worth. I started contributing to my 401k and bought a starter home in a low to medium COL area in this time.
These are from the start of each year, except the last line which is as of yesterday.
2019: $125k
2020: $230k
2021: $373k
2022: $627k
2023: $656k
2024: $886k
This month: $1.02m (30yo)
Neither return seems realistic based on what is implied with 401K savings. There would seem to be a high risk strategy, stumbling into a recent high flyer (e.g. NVDA), or something else entirely.
Could you elaborate?
Statistics: Posted by investingdad — Tue Jul 02, 2024 8:56 am — Replies 4334 — Views 1146754