"You can amass a high net worth in a decade if you remain financially disciplined and pursue high-income careers. One Redditor is in their early 30s and has a net worth above $1 million. The individual recently posted in the Fat FIRE Reddit community, seeking to find other ambitious employees who are in their 30s and have net worths above $1 million."
"The Redditor proceeded to ask the community a few questions, such as how they balance saving money with splurging. It's a delicate balance, as saving money requires putting unnecessary spending on the sidelines. However, people occasionally want to treat themselves, and it can provide extra motivation to keep going. The post got plenty of comments, and I'll share some of them along with some of my thoughts as well."
A person in their early 30s reached a net worth above $1 million through discipline and high income. The person asked peers in a Fat FIRE community how to balance saving with occasional splurges. Responses emphasized prioritizing wealth building, especially with young families, and treating splurges as occasional rewards that do not undermine long-term goals. One commenter with $2 million and two children rarely splurges and views saving as enabling choices like adding another child. Another commenter earning $190k reported reaching $1.5 million after successful crypto and risky options trades and liquidated small amounts for luxury purchases.
Read at 24/7 Wall St.
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