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?
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.
In ten years, your net worth increased to $700,000? What do you do for a living, if you don’t mind me asking?
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.
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.
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.
Oh no, no employer provided benefits till I graduated from college.
I am at $30,000 at 27, having started at 24. I’m trying to catch up to people in your position.
I started at 18, and now at 23, I have about $150,000 in my retirement accounts. It feels great.
Did you start work straight out of HS?
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.