'How Is Turning $100,000 Into $1 Million Easy?' 26-Year-Old Asks Strangers Why Net Worth Explodes From There — Here's What They Said [Yahoo! Finance]
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However, a Reddit user recently sparked a discussion on the r/FinancialPlanning subreddit by questioning the perceived ease of growing net worth from $100,000 to $1 million. Don't Miss: Are you rich? Here's what Americans think you need to be considered wealthy. Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you The 26-year-old user, expressing diligence in their financial strategy, is already maxing out their 401(k) and Roth individual retirement account (IRA) contributions and has set aside emergency funds. Additionally, they invest $1,000 monthly in an S&P 500 exchange-traded fund (ETF) through a brokerage account. Despite these efforts, they wondered why it is said to be "easy" to escalate from $100,000 to $1 million and sought guidance on the next steps to take to make it happen in five to 10 years. The Reddit community responded with a mix of encouragement and realism. The core advice centered on the principle of c
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