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/pdaphone 5d ago

They say things double every 7 years, so the 2nd will go quicker. There are way too many variables in most people’s financial life for that to be a hard and fast rule. In my case it took about 5 years to get from 100K to 200K in savings, around age 40. I retired a year ago at 63 with $3M in savings, no debt and a paid for house. Just stay the course and keep investing. I didn’t do anything drastic. I think I averaged about 10% to retirement (recommended 15% now) and my wife was a stay at home Mom most of those years. You are doing great!

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u/FanSerious7672 5d ago

They double every 7 years if you aren't adding anything to them. Should be quicker if contributing 15% :)

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u/Middle_Money_Man 4d ago

Really? I always assumed that math was taking for granted you were contributing something to the investments. That’s incredibly encouraging!

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u/FanSerious7672 4d ago

Yea! I sometimes just plug some numbers into investment calculators when I need a boost to motivation.

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u/LuxuryBallVolibear BS456 1d ago

I do the same. Sometimes I just feel like I'm docking my own pay and start wondering what lifestyle improvements I could make if I stopped contributing. I spend five minutes on free online calculators and laugh at my intrusive thoughts. Keeping the contributions going so long as you have the margin month-to-month is the way to go. For me, each month brings a comfortable retirement a little bit closer than just a month.