Ah, that moment when your net worth hits six figures for the very first time…Or when your retirement accounts hit six figures…Or that time when your 401k has as much as your yearly salary. Those are the moments…the first ones that felt really big for me.
In April, I simplified my life by combining all of my accounts with my Old Man’s and adding him to the spreadsheet. Since he didn’t have a whole lot of data and I was curious, I went back to his account’s inception dates and entered it all in so I could see how they were performing. Had I done that, I would have seen that our investment accounts crossed over that six figure barrier in February, but I was just seeing it for the first time April, in the form of one giant net worth jump. It wasn’t as exciting as I thought it would be.
A similar thing kind of happened when I hit six figures net worth. It was a jump from an investment property I co-own, and it just kind of happened and I wasn’t expecting it and I missed it. Maybe these aren’t the most exciting milestones…
Nah, they are still exciting! It’s nice to know that all of our hard work has finally gotten us somewhere. If I look at our combined investments, it took us exactly five years to reach our first $100,000. That was with my starting from scratch back in March 2012 and him starting from scratch two years later, in March of 2014. Just think, during this time period, there was only one year where an employer plan was filled to the max and only one year that we both filled our IRAs completely. We could have hit this so much faster if we had been doing that a little sooner!
So we hit six figures in investments in February of 2017. How fast can we hit $200,000? I hope faster than five years! Three months after crossing that milestone, we’re already a quarter of the way there! How did that even happen!? I don’t honestly know the full extent of it, but it’s not something I would expect to continue. My estimates say I can expect to be a $200,000aire in 30 months, so only 27 more to go. The fun part is seeing if I can speed that up, and if so, by how much. Yes, this is how I get my enjoyment.