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100K Milestone
Old 02-02-2012, 12:25 PM   #1
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100K Milestone

Hello all,
First time posting in awhile - though I lurk and read sometimes. Just wanted to throw out some good news...finally hit my first 100k after 12 years of working and saving! Seems like I should've hit a year ago after reaching 99,500 early last year. But...my contributions and earnings weren't enough to overcome the hurdle. Nevertheless, I'm there! 10% of a millionaire!!!

Maybe I will pour myself 1/10th of a glass of wine on this work night!

halcyon
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Old 02-02-2012, 12:27 PM   #2
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Congratulations!
The best part is that the more you have, the faster it can grow.
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Old 02-02-2012, 12:52 PM   #3
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Congratulations - and here's to the next milestone!
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Old 02-02-2012, 01:03 PM   #4
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congrats! it's a big one.
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Old 02-02-2012, 01:20 PM   #5
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Congratulations!
The best part is that the more you have, the faster it can grow.
+1, took the words right out of my mouth.

Congrats on your great progress halcyon. Stick with it, it really does seem to accumulate faster and faster if you do!
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Old 02-02-2012, 01:23 PM   #6
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Thanks for the well-wishes.
I'll definitely keep contributing what I can, but the budget has become slimmer with the addition of 2 kids in the last 3 years.....and one with a 2-month stay in the NICU!
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Old 02-02-2012, 02:12 PM   #7
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Congrats! I'm glad to hear about people who make the goal of saving a priority instead of spending every last penny before they earn it.
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Old 02-02-2012, 02:59 PM   #8
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Congratulations! You are now in a very exclusive club. The percentage of people that achieve this milestone is small. I know it is a clique, but it really does grow faster for you now.
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Old 02-02-2012, 03:42 PM   #9
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Maybe I will pour myself 1/10th of a glass of wine on this work night!
Congratulations!!! Actually, with $100k, I think you should savor the moment and have a whole glass or a whole bottle.
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Old 02-02-2012, 03:44 PM   #10
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I was fully expecting to hear about how your automobile reached it's 100K Milestone with the proper maintenance, oil changes, tune ups, and tire rotation....

Silly me, just remembered this is the FIRE forum.

Congratulations are definitely in order, - a bank account at 100K and climbing is way better than an automobile at 100K and climbing..
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Old 02-02-2012, 08:09 PM   #11
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Quote:
Originally Posted by halcyon
Hello all,
First time posting in awhile - though I lurk and read sometimes. Just wanted to throw out some good news...finally hit my first 100k after 12 years of working and saving! Seems like I should've hit a year ago after reaching 99,500 early last year. But...my contributions and earnings weren't enough to overcome the hurdle. Nevertheless, I'm there! 10% of a millionaire!!!

Maybe I will pour myself 1/10th of a glass of wine on this work night!

halcyon
(((2035 toasting with non-alcoholic champagne)))

Congrats... I hit 100k in early Jan and am already at 106k...including contributions.
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Old 02-02-2012, 08:18 PM   #12
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When encouraging friends and younger people to save, I try to impress upon them that if they get into the habit of doing it regularly (i.e. treating saving like another bill that has to be paid) that at some point they will start realizing they have quite a lot of money. I can tell from the response received that they don't quite believe me. With some people, it doesn't matter how hard I try to tell them that I once just had a few hundred bucks to my name and still sometimes can't quite believe that I managed to save all this moolah - they won't accept that they could do the same thing too if they wanted.

Glad you're not one of those people halcyon and welcome to the club!
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Old 02-02-2012, 08:22 PM   #13
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You reached $100K even with two little peanuts under 3 years old (and I hope they are both healthy little ones today)? That is just amazing!

Sooner than you think, you'll see $200K.
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Old 02-02-2012, 08:49 PM   #14
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Congratulations !!!!

Kudos & lot of credit to you, saving with 2 little kids, I know how difficult it is to save when kids are that young.
Not many couples with out kids can pull that off.
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Old 02-02-2012, 09:40 PM   #15
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Congratulations!
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Old 02-03-2012, 08:12 AM   #16
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Well, we were able to save a lot more to our retirement accounts before our two peanuts came out of their shells. We had to back off on our accounts a bit to contribute to their 529s....but that's worth it. And once we're done paying for daycare (the real stressor for us)...we'll have more money to contribute to everyone's accounts. As it is, 8-9k is still invested every year...which is ok for now.

We waited a while to have kids, so that I could build a decent financial foundation.

halcyon
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Old 02-03-2012, 08:37 AM   #17
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Well done! Now do more of the same and do not forget to smell the roses...
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Old 02-03-2012, 01:34 PM   #18
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Gratz on your accomplishment.

I hope you earn better returns than I have the past 10 years Everyone keeps saying how it starts to snowball and grow faster but for me even though contributions now make up a very small% of my portfolio the returns have been so bad for the stock market the past 10 years I still get most of my growth from contributions.
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Old 02-03-2012, 03:56 PM   #19
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Gratz on your accomplishment.

I hope you earn better returns than I have the past 10 years Everyone keeps saying how it starts to snowball and grow faster but for me even though contributions now make up a very small% of my portfolio the returns have been so bad for the stock market the past 10 years I still get most of my growth from contributions.
My thoughts as well. This time last year I was up quite a bit. By the end of the year, half of the year's contributions vanished in a loss...

I'm already up $15k this year, but will I still be up at the end of the year? I keep seeing the snowballs in my account melt.
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Old 02-04-2012, 12:13 PM   #20
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We're on about the same trajectory, Halcyon. I'm 12 years deep now too. Two kids and trying to pay off a big mortgage in the next ten years. I hit 100k one year ago, and got up to 115 around mid-year before everything tanked. The last two days have finally brought me to new highs. I'm pushing 117 now and hoping to make significant further gains this year.
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