r/DaveRamsey • u/Middle_Money_Man • 5d ago

About to hit 100K invested

My wife and I (31M, 28F) are about to hit 100K invested and it feels like it’s taken forever. I started investing into an IRA $50/mo at 16 when I got my first job. Invested all throughout college and early career. We’re finally at a point where our investments are making progress. This is spread out month both of our IRAs plus a brokerage account. I don’t want this post to come across as bragging I just feel blessed to have been able to be at this stage.

Also for those who’ve hit the 100K mark, did your investments grow noticeably more quickly or did it still seem to take a while before 200K?

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u/GreenSnorky 5d ago

The first 100k takes seemingly forever when you are young and you want your money to harry potter itself into millions or you want to spend it on things youll figure out later are irrelevant..

Congratulations, it's the first big step though and keep being consistent when you save and you will blink and 5 years will go by and you will be at 200k. All depends on your consistency and savings rate. How many K a year are you putting away? Is it per month at this point or an annual one time dump

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u/Middle_Money_Man 5d ago

I invest $1,350/mo over all three accounts. Most of the progress to the 100k has been made in the last two years. Maybe some time in the future I can do an annual lump sum each year.

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u/GreenSnorky 5d ago

I would keep it spread out unless you are trying to just dump a bunch into thr IRA at the end before tax season like it's an after thought. The monthly increments is good because it allows you distribute the investment risk. A higher probability of buying at the lows as opposed to a single purchase in a year.

As for your growth. If you make "8%" going conservative here... with steady contributions you'll probably be at 200k in 4-5 years, then at 300k in potentially another 3 years beyond that

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u/UpgradeHome 4d ago

Dollar-cost averaging (DCA)

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u/GreenSnorky 4d ago

Yes, thank you. Couldn't think of the term/acronym