#FinancialGoals #Savings #PersonalFinance
Hey everyone! 💰 When did you hit your first 100k in savings? It’s always inspiring to hear success stories and learn from each other’s experiences. Here are some possible solutions that may help you reach your financial goals sooner:
– Start by creating a budget and sticking to it religiously 📊
– Invest in stocks, mutual funds, or real estate to grow your money over time 📈
– Consider picking up a side hustle or freelancing gig to increase your income 💼
– Cut down on unnecessary expenses and focus on saving more each month 💸
Let’s share our tips and tricks for reaching that first 100k milestone!🎉
26! Then spent it on a house, now I have 6x as much debt haha
Cash savings? Never had that. Always invested before I got to that, primarily in a hoose.
29, last year. Have it ready for a deposit for a house when the time comes
Cash is not good to accumulate unless you need it in the short term for something like a house deposit, emergency fund.
“Cash is trash”
22. This was 25 years ago.
Worked after school, worked in my school holidays, saved like fury.
Then bought a house.
The rest of my class mates prioritised their spending on travel and cars.
I bought my house first, then travel and cars came later.
Very situational to save 100k, never had that. First 100k in home equity is pretty easy tho, 4yrs
This year, age 30. Paid off my student loans too. Just sitting and growing my stash looking at getting a house in the next couple of years.
When I got married and we combined savings it was almost bang on 100k, then we bought a house so it all disappeared haha
34
I did a lot of travel in 20s or would have got there sooner
Im hoping to hit it this year, 26! I spent money like it was my second job until I got serious about it at 22.
By about 30, combined between me and my wife. Used it for house deposit back in 2018.
26!
27 was my deposit for a house. Almost tripled it when we sold that house after owning it a couple of years when I was 30.
Will just keep paying the mortgage down and build savings up again.
This very year (I’m 28). Started working full time since 2018, but wasn’t a NZ resident, therefore no KS until 2021, when I was able to join. I also started investing on 2020. I chose Simplicity and did a bit at 6% at first, but have defaulted to 3% now. Today it accounts for a small portion of my portfolio.
I was able to get a high paying job in the height of 2022 and sadly got laid off (didn’t even last a year, company was risky) but it was the biggest boost to my portfolio.
Also helps that I bought NVIDIA stock a few years ago. Yay for being a nerd I guess 🤣
I was 24 (2020). No external help, but I did work full time from second year uni on (Cadetship) and work paid for my degree too. KS not included.
Also had about 30k in personal assets debt free at the same time (motorbikes, personal vehicle)
However have been travelling now for 2 years and about 40% of it is gone. Would not change that for the world though !
Twenties, I invested in index funds and shares a lot. I didn’t really “live it up” in my twenties though so it came at a lifestyle cost. Making up for it now
I think about 29. Using both 80k in KS and roughly 80k in cash pretty much wreaked it in a good way. Roughly back to 60k in cash now
100K?
………. to be fair 100K even 5 years ago is very different to 100K now.
It’s arbitrary twice as easy these days vs 5 to 10 years ago even. So this question isn’t going to get a useful answer. i.e. younger populations that achieved this in recent years would have had a much easier time vs their parents
Apart from briefly for our house deposit – 41. The house is paid off now so we’ve managed to get to 200k in another two years. It helps that the stock market has been so strong.
About 22 then bought a house at 24. Was saving from the age of 17.
Comparison is the thief of joy
23
Around 27. Used it to buy a house. Now almost back up to that much in liquid cash and will probably seek to purchase another one.
First $100k was at 26. I was slow to hit $100k because I bummed around for a couple years before going to uni.
I hit $1M at 31.