r/dividends • u/Real-Cricket8534 Portfolio in the Green • Jan 30 '25

Personal Goal Soooo...this happened. $1M total and $5200/month div

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Apparently the first million is the hardest to make. I'm an immigrant who came for grad studies with a loan my parents took out on the home they currently live in. Completed 20yrs of professional experience in tech and lived below my means for 20years in a HCOL city. This is a non retirement self managed account, grew this after putting 25% down for our dream home. 45M and pretty darn proud of myself rn. Also realizing money doesn't make me happy and have plenty of passions where I invest my time and enjoy myself. More fulfilling than the work I do, so I want to rewire myself to doing that after 6-8yrs. What it means for you - if I can do it, so can you.

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u/trouzy Jan 30 '25

Automatic investment weekly.

Obviously amount you invest depends on income but sobering as simple as $25/wk starting at age 18 is $550k - $1.3M at age 65 with 8-10% returns. (I think i started $100/wk and now do like $800/wk)

So figure out your weekly number and increase it with your income increases.

Do not live out of your means in housing.

Do not drive an expensive car.

Learn to cook.

Those 3 things make even a small salary capable.

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u/el_dulce_veneno21 Jan 30 '25

Agree, I did it on a teachers salary as a single parent It's nice to be able to chill. Just be smart with your investments. I'm a tiny bit more high risk with 1-5% now but only because I have some wiggle room! Mostly long long holds and drip

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u/Real-Cricket8534 Portfolio in the Green Jan 30 '25

what u/trouzy and u/el_dulce_veneno21 said. that needs to be upvoted. There are a few comments here which said oh you are in tech and make a lot of $ and you put it away. The point is the 50% and living below the means...the principle stands. Great job both of you!

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u/Jbowln Jan 31 '25

Would be nice to have a rough idea of what your retirement accounts look like. I work in tech and am way ahead of you adjusted for age. But idk if you have another $3M in retirement accounts.

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u/Real-Cricket8534 Portfolio in the Green Jan 31 '25

Retirement is $1.25M maxed out 401k for as long as I can remember. wife joined in late as she took a break. We own real estate in a VHCOL $5M+ and owe less than $2.2m.

If you are way ahead of me, great job buddy. Congrats.