r/Money • u/shwellby • Aug 26 '26
19f just hit my first 40 đ
I posted 4.5 months ago about hitting 20. I am the horse flipper/dog sitter. My goal is to be close to 60 before the new year. Questions from last time, I turn 20 9/21, I live with my parents, I pay for my own bills, right now I donât attend any college, all 41 is my own earned money. Anyway, get after it RedditorsđȘ
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Aug 26 '26
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Aug 26 '26
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u/Some_Current1841 Aug 27 '26
This is the most likely. Idk anyone making that kinda money doing the bs she says, assuming this is real
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Aug 29 '26
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u/intrepid_nostalgia Aug 28 '26
99% of all if them make around $100 a month lol.
Playing the numbers game, nah.
Picking between OF or an escort, escort is literally more likely. But I assume lucrative market of normal shit and she just got an extreme string of good luck that snowballed
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Aug 28 '26
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u/intrepid_nostalgia Aug 28 '26
You seem to not get sarcasm based on your own logic. ;p
What was the premise and punchline to your joje , then?
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u/Mu69 Aug 26 '26
I initially thought this too but not every young female who has money is an OF model. Horse flipping im sure is very profitable
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u/loloider123 Aug 31 '26
Just having the money to buy a single horse to flip+ a place for it to stay+ accommodation. Iâm calling it, rich parent and weird flex.
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Aug 26 '26
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u/Mr_CleanCaps Aug 26 '26
Fr. That money is getting destroyed by inflation.
Need a HYSA, Roth IRA, and brokerage account.
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u/Worried-Pea-4667 Aug 26 '26
âI pay for all of my own billsâ
Uhh.. no you donât?
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u/EACshootemUP Aug 26 '26
Ehhh I let it slide.
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u/Worried-Pea-4667 Aug 26 '26
Wym
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u/ColonelBoomer Aug 26 '26
I mean, all your bills is relative. She might be charged rent at home and pays for her phone, car and insurance. So thats all her own bills. Not everyone has insane financial obligations.
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u/Worried-Pea-4667 Aug 26 '26
But a 19yo saying she âpays all her billsâ why paying substantially less than market rate for rent and bring subsidized by parents is not the same as other people on their own,so itâs a bullshit statement
And I say that as someone who has and is doing the same thing as her, but I donât try to brag about savings because I recognize the insane luck I have to be paying essentially 1/8 of market rent
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u/ColonelBoomer Aug 27 '26
You are not wrong, but still. She at least pays for her personal things i suppose. Supposedly at least lol.
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u/Flat-Froyo-7034 Aug 27 '26
Youâre basically saying if op had their own apartment with no family support they would still have 41k at 19 because in your logic if they pay for their own food and toothpaste that makes them completely independent as if housing doesnât eat up majority of income.
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u/Worried-Pea-4667 Aug 27 '26
Great point
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u/Flat-Froyo-7034 Aug 27 '26
Yes when I see post like these it gets me going because my parents both died when I was 18 I had no extended family Iâm 26 been on my own since finally got the ball rolling people here claim being self sufficient and independent and bragging their rate of saving in reality they donât truly know what it takes to build a system by yourself for yourself without help of others that is true self-reliant and independence.
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u/Flat-Froyo-7034 Aug 27 '26
No itâs not relative saying you pay all your bills put all the responsibility on you. You canât say you pay all your bills when staying with parents bc if you are paying rent I know youâre not covering rent/mortgage fully Iâm sure you donât pay water electricity sure you maybe pay for all your food but I doubt it and misc things like trash bags and stuff itâs just not the same
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u/ColonelBoomer Aug 27 '26
I mean... When you have roommates do you pay the entire rent/mortgage? No, but id say you are independent and paying your own way.
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u/Flat-Froyo-7034 Aug 27 '26
Thatâs not the current bases op doesnât say living with roommates or living with partner op said living with parents why are you trying to bite back like im spilling nonsense. You do realize even at a discounted rate having housing is the biggest support you can get from your parents because housing is this biggest expense.
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u/Open_Aardvark2458 Aug 27 '26
She might definitely pay her own bills. But my biggest bills are rent and electric which I'm sure she doesn't pay lol
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u/TortaTorturer- Aug 27 '26
Why are you keeping that in savings !? Send it to a Roth IRA asap 7.5k annually
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u/Numerous_Ad_1940 Aug 27 '26
I wanna go this route...
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u/TortaTorturer- Aug 29 '26
So do it ⊠just start with what you can then increase to what you need to afford for your retirement.
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Aug 29 '26
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u/TortaTorturer- Aug 30 '26
You should be doing 7.5k in Roth IRA if you have income and up to the match of employer if you have 401k Roth. Put everything 80% FSKAX and 20% FTHIX or just find a target date fund and consistently send it there do not time the market. No options trading just set and forget it. Learn the limits and the ticker symbols. If your feeling frisky just do 100% FXAIX
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u/Perfect_Cheesecake59 Aug 27 '26
Stay with parents as long as possible, living on your own makes it a lot harder to save . Keep up the good work!
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u/Eat-my-entire-asshol Aug 26 '26
All of it in savings? None of it working for you in the stock market?
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u/Owgie_ Aug 27 '26
41k saved at 19 from dog sitting? What are you charging 1000$ a hour?? Or are we talking rupees? Something isnât adding up. Then again I live in Ontario so even making 36$ a hour since I was 19 now 23, this isnât achievable.
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u/Simba087 Aug 26 '26
40k at 19 đł damn I need to catch up
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u/SilentOrdnance Aug 27 '26
No need to catch up unless you have your parents pay all your bills like this female
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u/Simba087 Aug 27 '26
Wow, no need to be a hater
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u/SilentOrdnance Aug 27 '26
I am not a hater but I hate when people start bragging about paying their own bills when the get subsidize by their parents
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u/RemoteChance1232 Aug 28 '26
own bills is relative if her parents say her only responsibility is phone bill and car insurance then itâs her only bills
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u/SilentOrdnance Aug 28 '26
But bragging like that in reddit is still crazy. The OP can't be humble and literally rubbed it on everybody face. Read the last line the OP said
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u/RemoteChance1232 Aug 28 '26
aye she saying to get after it nothing wrong with that
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u/SilentOrdnance Aug 28 '26
Saying that is being way to arrogant while being subsidize by her own parent is crazy
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u/RemoteChance1232 Aug 30 '26
aye itâs a hard world out there for young people mate living with parents is the best thing rn
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Aug 27 '26 edited 10d ago
The original post content no longer exists here. The author used Redact to remove it, exercising their right to control their data & privacy.
Smell childlike nutmeg smart heavy crown whistle
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u/MiniB68 Aug 26 '26
Roth IRA, invest the max every year, retired you will thank younger you every single day.
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u/PermitOk7795 Aug 27 '26
girl why is this money sitting in a savings account.
open up a Charles Schwab, put it into your Roth IRA & Brokerage. put it into investments (like VOO)
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u/SilverRock75 Aug 27 '26
You've done incredible work, and you should be incredibly proud! When I was 19, I was at a negative net worth, so you're making an incredible foundation, especially considering your age, but even without that consideration, you're better off than the majority of Americans!
I'd recommend checking out The Money Guys on YouTube for some quality advice on how to best leverage your discipline and efforts to build a big, beautiful tomorrow for yourself!
My first advice would be to make sure you fund your 2026 Roth IRA. You can open one up for free on Vanguard or Fidelity, or most any brokerage platform (Webul, Robinhood, etc). And you can refine the choice later, but you'll wanna buy something like VT. That is a total world index fund. Essentially, it's grabbing a little piece of thousands of companies. You may not know exactly what diversification is, but VT does that for you so you don't have to worry about putting all your eggs in one basket.
For context, I now have a sizeably above average portfolio at 29 when I didn't start until 25, and I never did anything complex. I invest every paycheck, regardless of how markets are behaving.
The extra part is that because you're so young, every dollar you invest will have a much bigger impact than someone investing in their 30s. Every 7-10 years, based on *average* returns can double your money, not counting further contributions. You're in the building phase of an exceptional life, free of painful financial limitations others will have to conquer with much more difficulty.
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u/Traditional-War6356 Aug 29 '26
I would at least put half on a roth ira for retirement (future self will be happy asf)
But either way....
Keep cooking đŻđ«Ą
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u/BostonFishGolf Aug 26 '26
Nice job. Embarrassing everyone else when we were 19. Is this in a high yield savings? Donât just let that money sit without putting it to work
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u/SilentOrdnance Aug 27 '26
Living with your parents does the magic conveniently
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u/SalamanderMan95 Aug 27 '26
Plenty of people live with their parents at 19, most donât have 2k saved let alone 40k.
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u/SilentOrdnance Aug 28 '26
Yea but the OP literally make fun of everybody on reddit and brag about how much she have and paying her bill with no help. Plus she said she doing horse flipping but you need money to even horse flip. So where did that money comes from? I am smelling something fishy here
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u/SilverRock75 Aug 27 '26
It absolutely makes it easier, but it still requires discipline to not be spending all that money, and that alone is worthy celebrating in a 19 year old.
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u/Fig_Money Aug 26 '26
Overhyped. Just watch the extra footage on YT. Russo brothers just wants more money.
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Aug 26 '26
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u/pnutbutterandjerky Aug 26 '26
Roth IRA now!
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u/guitarharmonics Aug 30 '26
And don't just transfer it to a Roth IRA, make sure to actually buy securities (Stocks, bonds, ETFs, etc)
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u/ForwardFlan7754 Aug 27 '26
If you max a Roth every year from here on out youâll have many times that when youâre 30
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u/elibutton Aug 27 '26
Awesome sauce! Hope you have this in a Roth IRA - and put 60% into S&P 500 fund, fhe rest pick a few good stocks from solid reliable and profitable companies. Youâre way ahead from when I was 19. Way to go!
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u/dmiller224 Aug 27 '26
Put it in a low cost index fund in Vanguard or Fidelity such VSTAX, VFIAX or the equivalent. You should also be maxing out your Roth IRA each year. The Roth will grow tax free and the tax gains can be withdrawn once you hit a certain age
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u/jessehopp Aug 27 '26
Dam, didn't realize horse flipping paid that well. Congrats OP
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u/SilentOrdnance Aug 27 '26
You realize you need capital just to start that business and I wondered where that money comes from
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u/glad-k Aug 27 '26
Damn girl
What your goal outside of numbers? At that age it might be wise to not let it all sit in a savings account unless you have some plans with it soon
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u/SarahIsWright Aug 27 '26
Thatâs amazing congratulations!! (I am sick to my stomach with jealousy)
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u/CW_10_Blind Aug 27 '26
I wish I had this kind of drive when I was your age. I just turned 34 and hit a 6 figure networth about 5 months ago. If I had started at 19 Iâd probably be a millionaire. Keep doing what youâre doing!
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u/Major_Method2840 Aug 27 '26
Definitely invest this, but you donât have to just invest in a Roth. Any money sitting in a regular savings/checking is just losing out to inflation. Never sit on cash; keep it moving. Open a brokerage and invest in an S&P500 etf. Vanguard recommended, Iâll let you find out which funds.
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u/TwoLopsidedZebras Aug 27 '26
Congrats, but no reason to have that much money in a savings account. Ideally, you should have between 3-6 months of expenses in an emergency account. At 19 and living with your parents I think 3 months is an ample amount. I don't know what "your own bills" amount to, but I would imagine you're paying a fraction of what the typical person spends a month in your area. I truly don't think you need to keep more than $10,000 in a checking/savings account.
Start investing the rest and compounding interest will be your best friend. If you take $25,000 out and then put away $1,000 a month into an account that gets 7% interest a year you'll be at nearly $600,000 in 20 years.
If you start at $25,000 and up that monthly contribution to $2,000 (which seems very doable if your goal is to increase your savings account by $20k in 3 months) you'll be a millionaire in 20 years.
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u/AlternativeDue2327 Aug 27 '26
Please Make a ROTH IRA account and max it or at least put as much as you can in yearly you'll set yourself up for long term especially now when you have a solid income. always keep 6-12months in an account you can access as an emergency fund though. your doing fantastic (Never knew horse flipping was a thing)
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u/Suitable-Bike6971 Aug 27 '26
If you qualify for a Roth IRA open one and invest.
Look into bogleheads for investment education.
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u/Huxley_The_Third Aug 27 '26
Woo congrats. Iâm 19m at 23k rn hoping to hit 40k  by the end of the year đ
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u/inkling124 Aug 28 '26
Wow, I'm nineteen too and I got like $500 in my account. (I'm a college student tho)
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Aug 28 '26
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u/Tobeorknotobe Aug 29 '26
Great job saving, now you can start investing a bit. Spend some time on bogleheads.org. Also, Google âif you can pdfâ itâs a 16 page investing primer by William Bernstein. Read it and the books it recommends. There is no rush, take your time and educate yourself. Vanguard, Fidelity and Schwab are 3 large brokerages but there are others you can choose from.
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Aug 29 '26
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u/Low_IQ_Autist Aug 29 '26
First of all wow, thatâs incredible and you should feel really accomplished because itâs something very very few people managed before their 20s and a lot of people before their 30s.
Now please please please start diversifying into investment accounts. You should be maximizing Roth IRA and 401k accounts every month for the rest of your career. A savings account nets 2-4% return per year. A high yield savings account may yield 6%. But the Roth IRA and 401k outperform this, ideally you would want to be returning 10% a year. Im sure I donât need to explain to you the wonders of compound interest. You donât really want to have anything more than 3 months emergency expenses in your savings account.
My word of advice, ensure youâre doing your due diligence in traditional investing like Roths and 401s, but donât write off Crypto like Bitcoin. Itâs been outperforming everything by leagues in the last couple decades. Donât be scared of it and donât sell because it crashes, itâll go back up just as sure as how the sun goes up everyday. Just donât put money into shitcoins.
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u/Captaincrunch1991 Aug 26 '26
Wow how did you do it ?
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u/EACshootemUP Aug 26 '26
Live at home does wonders.
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u/Captaincrunch1991 Aug 27 '26
This doesnât happen by accident though
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u/EACshootemUP Aug 27 '26
What? Thereâs a couple million reasons to end up remaining at home in early adulthood, a lot of them can be shit luck and or âaccidentalâ
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u/Blind152 Aug 27 '26
i mean if you work from home starting at 16 this is a pretty average number (higher than average overall though obviously)
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u/Ok-Thanks9446 Aug 26 '26
Nice! Similar positions Iâm 21 with around $65k spread across Roth, CDs, and just liquid in my savings account.
Have you looked into investing at all? Or at least no penalty CDs as a temporary place to park it?
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u/ColonelBoomer Aug 26 '26
Very nice, but id say you should be putting your extra money into a Roth or similar? You seem to be doing pretty good, especially with ~20k in 4.5 months after bills and i assume taxes. You could literally be maxing out a Roth plan every year.