This is addressed to those who were educated about stocks and Roth IRAs at an early age. I am talking about those who are between the ages of 17 and 20, so if you started investing around that time and are now much older, I am simply interested how things are doing. How does that investing account appear right now for you? And what would you change if you could go back in time?
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I made my first investment at age 20 of $50 in a single stock to get a feel for it. I became captivated by the money’s gradual expansion and contraction. A decade later, there were 210k in a 401(k), 60k in an HSA, 190K in a brokerage, 200K in home equity, and 50K in an emergency fund. Invest frequently and early, and let compound interest take care of the rest.
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In ten years, your net worth increased to $700,000? What do you do for a living, if you don’t mind me asking?
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Software development. With a master’s degree, the income is very good. Not to add that the brokerage and 401k accounts have benefited greatly from the highly improbable extended bull market.
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What do you do for your job on a daily basis, if you don’t mind sharing? I am considering learning about that for college and potentially pursuing a job in the field. Is it worth it? Is it enjoyable? What’s the pay like? I’m particularly curious about the pay since I know my parents would bring that up.
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have the good fortune to learn how to invest at a young age. At 28, my 401k is about 70k, I have contributed since I was 18.
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Oh no, no employer provided benefits till I graduated from college.
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I am at $30,000 at 27, having started at 24. I’m trying to catch up to people in your position.
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I started at 18, and now at 23, I have about $150,000 in my retirement accounts. It feels great.
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Did you start work straight out of HS?
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I think it took me around six months after high school to get hired by my current employer. In high school, I worked as well, but I didn’t invest any of my earnings.