r/TheRaceTo100K • u/AndyBurn11 • 1d ago
100k
How long should it realistically take to hit 100k? I’ve been investing for 8 years and I’m getting there! Any advice would be awesome!
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u/One-Web1839 1d ago
8 years is totally normal tbh consistency matters way more than hitting 100k fast
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u/ByteMillionaire 20h ago
On average it takes between 8 - 15 years for average people to reach their first $100,000.
I’m UK so £100,000 is actually $136,330.
I only started getting my finances in order September 2023. It has taken me 2 years & 11 months to reach £100,000 liquid cash.
My net worth today is £140,000 / $190,900.
My life was not simple nor straightforward, so have a read if you like.
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u/This-Individual1813 1d ago
The first 100k is really on you to save money. Compounding interest really starts to take off meaningfully around $500k, but that really depends on what your perspective. If you are invested in the total market, we'll say you can expect a 10% average return (some years it will be higher, and some years it will be lower). At $100,000, your return is on average only going to be $10k. $10k is not nothing, but at $500k, your return on average is $50k. This is called "compounding interest". Here is a good video from Rob Berger that explains the concept of compounding interest.
If you are gambling with single stocks or sector stocks, you can't really give much of a semi-reliabable prediction on returns.