My retirement accounts have finally crossed over the 6 figure mark. It's a shame I can't share things like that on Facebook.
Congratulations!I agree about sharing, our wealth accumulation is one of our longest goals and greatest accomplishments, yet there are very few people I feel comfortable discussing it with. Oddly, I was criticized when when I mentioned that sentiment on the millionaires board. -murray
One of my DRIP (dividend reinvestment plan) accounts just went over $100K!That's a nice, round number. Of course it might go down again when the next stock purchase is made if the stock price goes down.But over the decades, most go UP. Quite a bit.Seattle Pioneer
My retirement accounts have finally crossed over the 6 figure mark. It's a shame I can't share things like that on Facebook. In 1988 my total net worth was $3K plus a toyota 4WD truck I didn't owe any money on. In mid 1997 it crossed the $100K mark. I still had the 1983 truck too. Pretty cool day that was.
<<My retirement accounts have finally crossed over the 6 figure mark. It's a shame I can't share things like that on Facebook. >> I used to work as a blue collar for a gas utility. People used to haul their new boats, cars and other consumer stuff into the yard to show off the stuff they had bought.Circa 1987, the company made 401 K plans available to hourly employees.By 1999, shortly before I left the company, a new status symbol was replacing boats and cars as the things people were showing off and/or boasting about ---- a 401 K balance in excess of $100,000. I thought that was a MUCH healthier thing for pweople to be boasting about.In 1987, shortly after 401K plans became available to hourly employees, the manager for my department of blue collars set up small meetings for employees to discuss the new benefit (which included a generous employee match).I thought he may a good point, so I signed up for the deal, maxing out my contributions under the plan. By 1999, I was one of those with more than $100 K in assets. Today, the total assets are around $240,000, with no additional contributions to the plan since 1999. I remain a supporter of 401K plans. There chief limitations are that people don;t sign up for them, don't fund them and drain whatever assets they have out of them with loans and such. But the idea for 401 K plans is excellent, in my view.I understand some companies abuse employees with poor choices of investment funds and high fees and such. Shame on them! But the idea of such plans is very good, in my view. Seattle Pioneer
"Oddly, I was criticized when when I mentioned that sentiment on the millionaires board.-murray "^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^Criticism is something all the internet does well.And TMF has enough posters that any comment will trigger upset.Howie52Never let a critical comment stop you from expressing an opinion.There are potentials to learn and potentials to teach that willnever come to pass if you pass up a post.
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