How long did it take to save your first $50K? $100K?

personal

#1

Hard to answer this question, but curious to see different savings/investing strategies from people around here. There is obviously a question of circumstances here - going to college, paying student loans, graduate school, what type of career path you took, etc.

On my end it took about 2 years & 2 months of saving aggressively after college to hit $100K. Even though I lived in an expensive area (LA), was able to save a significant amount of money via living with a roommate. The biggest headstarts I had were having no loan payments & a well-paying job in engineering.


#2

2 years is quick - well done sd! Took me roughly 5 years to hit 100k. This was a decade ago. Had around $30k student loan debt with 15% gross contributions. Would have maxed out my 401k if I could do it again. I should also note that I started saving around the time of the housing crisis meltdown, so was pretty lucky to not have lost too much and contributed during the subsequent run up since.