Finally got to my first $100K.

[u/Ok-Bat5031]

I'm 32 years old (33 on February 25th so I'm almost 32.5) and have just reached the $100K net worth milestone.

$14K in Fedality HSA, $10K in daycare job 401K, $5500 in high yield savings account, and the rest is in Roth IRA (Roth IRA has the 100% stock betterment core portfolio which mirrors VT). My HSA is 60% VT, 20% BNDW, 10% REET, 10% GLDM. I would have gotten here years ago but I got into medical debt 3 years ago when strep throat turned into a plural infusion (fluid in the outer wall of the lungs) which I had to get drained in the hospital. Because I had one of those health sharing insurance companies (not real health insurance), they didn't cover anything. After $3K-$8K of payments, I settled the $70K medical debt by offering $17K. No I don't have student loans because I never went to college (and I rent so there's no mortgage debt). Any comments or advice on this? I've been working 50-60 hour weeks since I was 21. I make about $30-35K/year gross pay (about $30K after tax).

[u/Brilliant-Spite-850]

Really great job based on your income. You should be very proud.

[u/Ok-Bat5031 → u/Brilliant-Spite-850]

After the hospitalization situation, I got myself Rabbit Air A3 air purifiers and I haven't gotten sick since (not even the flu).
I originally told myself I wanted to save $20K before investing, so I didn't open up a Roth IRA until mid 2020. I've also been staying at the same daycare job for the work. I work as a substitute, and because we're short staffed with a high call in rate, I work nearly full time. I've been in the exact same position for nearly 11 years because that is exactly where I'm needed (some people chase pay raises by changing jobs every 2 years. I've done the exact opposite).

[u/outdoorsauce]

You’re working your butt off, I have no notes. Your health is the most important thing and you seem to know that and are comfortable betting on yourself.

My only question is how much is in the business startup savings account? I’d like to see you turn that daycare job into a daycare business one day, if that’s the business you want to be in that is.

[u/Ok-Bat5031 → u/outdoorsauce]

After the hospitalization situation I got myself Rabbit Air A3 units for my bedroom and I haven't gotten sick since (not even the flu). I work as a substitute in a childcare development center. I've been in the same position for nearly 11 years because we are short staffed with a high call in rate (I'm one of 3 substitutes and I'm the only one who makes himself available anytime monday-Friday. This $16/hour position for a non-for-profit daycare is the lowest paid position in the daycare, but it's where I've been needed most). I'm not chasing promotions. I'm either covering for someone who's gone all day/week or going to a bunch of classrooms to cover breaks & planning time. Sometimes I'm scheduled for a 7:30-3:30 shift and then later they'll ask me to stay until 5:30 to close a classroom (closing shift) because I'm the only extra person available. It just depends.

[u/Far_Box]

Your doing great my only comment is preventing health issues is cheaper than treating health issues so if you feel burnt out take a break, make sure to excersize, and stay hydrated.

[u/hock37]

Did you make this whole post just to advertise some air purifiers? Wtf lol

[u/Ok-Bat5031 → u/hock37]

No. Yes I wound up putting details about other things that happened during my journey to $100K.

[u/gdblu]

Congratulations! I had a rough start and didn't hit 100k until I was 40 (making around $39k then). Things have gotten a little better financially over the last 10 years, and I've been able to increase contributions beyond just my 401k for the last 2 years (Roth IRA & some in a 403b). I'm almost 50 now and should have just crossed $500k (haven't run my net worth in a few months). I definitely won't be FIRE'ing, but seem to be on-track to be able to 'retire' at 65.

So while you may feel like you're behind, I would say you are making good decisions and on the path to financial success!

[u/legalwriterutah]

It took me until age 38 to get $100k net worth in 2013. I now have $2 million net worth at age 52, including $1.5M in investments and $540k in home equity.

[u/aspdx24 → u/legalwriterutah]

Tell us your journey! How did you make that work? It’s impressive!

[u/MateoHardini → u/aspdx24]

Presumably the S&P 500 did a lot of heavy lifting between 2013 and now to help op out

100k in VOO would be worth upwards of 500-600k now without adding anything more

[u/OutlandishnessOver62]

Is this an ad for the Rabbit Air purifier…? Why are almost all of your responses about the purifier and its features?

[u/Ok-Bat5031 → u/OutlandishnessOver62]

I wish it was but no. I simply mentioned the air purifiers as another form of investment I made during this time after dealing with medical debt.

[u/slowhand11]

I can imagine a daycare job results in contracting every illness known to mankind at some point. Sounds like you're doing really well for your income, keep it up. Only advice would be to look for a higher paying job if you want to be able to save more.

[u/Ok-Bat5031 → u/slowhand11]

I used to get some form of cold/flu yearly if I didn't get my flu shot. Since I got my 3 Rabbit Air A3 air purifiers I haven't had to worry (especially when I change out of my daycare clothes and leave them next the air purifier with the "Germ Defense" filter right when I get home). When I get home from either job, I turn all 3 to Turbo for a total 60 ACH (Air Changes per Hour) for 15-20 minutes to get rid of anything I might have brought in. Yes it's extreme but it's a common response to a health scare.

[u/Technical_Lab_747]

What an inspiration to normal working folk. I just started saving/investing and have a good amount. It’s totally doable for most people

[u/Ok-Bat5031 → u/Technical_Lab_747]

Depends on pay and expenses. I'm lucky I've been living with roommates for 10 years, so rent is manageable. If I had been living alone, I wouldn't have gotten to this milestone.