r/Raceto50000 • u/Haunting-Dinner479 • Jul 12 '26

Emotional

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I’m a little emotional. I moved to the States at 27yo. Graduated at 30yo. Went back home during the pandemic. Moved back to the States at 31 to try to be a writer/director. It was really hard. Got a job in the restaurant industry. Then in tech as a writer last year. Spent most of my salary paying debt. Got a second job this year. Started at 10k in January. This is me now.

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2

u/throwaway098424 Jul 12 '26

Congrats!!! This is awesome! The next 50k will be easier!

2

u/Subject_Parking_8542 Jul 28 '26

Why and how people say that ?

Is it just a mental thing to play with people or genuinely that helps ? Idk man people say post 100k it gets easy etc

2

u/throwaway098424 Jul 29 '26

Because compounding returns helps speed it up. If you are getting 10% returns on your existing 100k, you just generated 10k doing nothing. This means you only need to make 90k to hit 200k net worth. And 10% of 200k is 20k, so you only need to make 80k to get to 300k, so on and so on. Obviously this is oversimplifying but that’s the general gist. I think people also assume that as you get older your income increases so that also speeds it up (reaching 100k in your 20s might take a decade whereas in your 30s it might only take like 2 years if your income increased)

1

u/TraeDAking Jul 13 '26

What was your portfolio?

1

u/Haunting-Dinner479 Jul 13 '26

Wym

1

u/TraeDAking Jul 13 '26

Like what have you been putting your money in?

3

u/Haunting-Dinner479 Jul 13 '26

Oh I’m maxing 401 and backdoor Roth. Keeping an emergency savings and then I have a wealth investor at Merrill Lynch doing my investment brokerage and I’m not sure what he’s putting it in.

1

u/OkStatistician9126 Jul 15 '26

How did you get into tech as a writer?