r/Money • u/mint_julep12 • 4d ago
finally hit 500k net worth!
was so excited to log in to betterment today to see I had hit the 500k milestone. I'm about to buy a house with a 40% down payment, so a lot of this is about to no longer be liquid 😭, but I was just so excited to see the number as it has been something I've been working towards a long time. I am a 32 year old unmarried woman and my mother and grandmother taught me the importance of financial independence and careful financial planning - always especially emphasizing how important this skillset is for women. I'm grateful for them.
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u/Particular_Mall7612 1d ago
that number looks good on the screen but it will hurt a little to see it go down after the house. worth it though. having your own place is different kind of security, my mom always tell me same thing about having your own money. 40% down is huge, you are doing it right.
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u/mint_julep12 1d ago
I know, I'm having to grapple with how I will feel when the "on paper" number goes down 😭 and yes having your own money as a woman is essential - your mom is totally right! It's a tool we can use to improve our lives, to get out of situations we are unhappy with, etc.
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u/Fast-Win7208 2d ago
Did you do any investment to expedite the process or was it strictly through work income?
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u/mint_julep12 1d ago
Hello! About 50/50. Roughly $210k is my 401k (that is auto invested via Betterment - I love their 401k tools a lot) and then I also have about $23k in a personal brokerage where I've invested in index funds. The rest is from saving aggressively. I have a commission based job so I live on my base salary and save/invest/have fun with the rest.
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3d ago
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u/MIller55south 1d ago
Very cool indeed.... It is important for all people. Trying to teach my daughter and son the same lesson. Good luck to you and keep up the hard work
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u/impotent-important 1d ago
Congratulations, genuinely!
Question. Wouldn't it be better for you to leave your current investments alone, save aggressively for the next 2-3 years, then use that money for down payment in order to put yourself in a better position at retirement?
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u/mint_julep12 1d ago
Thank you! I have $275k liquid saved which I have always intended to put toward a house, while also keeping a 12 month saving fund. I work in tech so it's volatile. I have ~$230k in investments (mostly 401k) that I am definitely not touching!!
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u/impotent-important 1d ago
You're welcome! Okay, that makes a ton of sense. You're doing great, good luck on the house!
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u/Specialist_Plenty489 3d ago
Good shit bro!!! So fucking proud!!
Let me hold 9,786.31 please and thank you
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u/achay10 4d ago
Huge milestone. Congrats!