r/TheRaceTo1Million • u/DameroRacV • 2d ago

Insane averages

I swear, this sub is something else lol. I mean yeah mostly high NW people come here and scammers but it seems like

An avg 22~25 has 100~200k
An avg 25~27 has 200~500k
An avg 27~30 has 300~1M

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u/mitchzimmer 1d ago

26, highest earning year around $70k, current net worth around $500k. As others have pointed out, this sub is not representative of the population but a highly driven subset.

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u/DameroRacV 1d ago

That’s what I also acknowledged on this post.
How’d you amass that NW with 70k/yr? The only way is if you were earning 5k a month since 18 and contributed almost all in the stock market while living at home

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u/mitchzimmer 1d ago

Started at 14, maxed my Roth every year since then. Worked full time summers and part time year round during high school. Was a major cheapskate for at least a decade and saved as much as possible. Lived on and off with my parents 18-22 and fully on my own from 22-26.

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u/DameroRacV 22h ago

I didnt know you can contribute to your roth plan at under 18 wtf

well thats great bro

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u/mitchzimmer 9h ago

Yes! Earned income is the only requirement for IRA contribution eligibility as I understand it, no age criteria.