A 24-Year-Old Asks, ‘Am I Missing Something?’ They Calculated That $100K By 30 Could Turn Into $1M By 65 Without Adding A Penny
- Personal Finance
ThePostMaster- 0
- 7 minutes read
A 24-year-old recently did some retirement math that made them stop and ask a simple question: “Am I missing something?”
After a year at their first job making $26.50 an hour, the poster said on Reddit that they managed to pay off all their debt, stay living at home, and build roughly $37,000 across retirement accounts. When they ran long-term projections, the numbers surprised them.
Simple Math, Complicated Reality
Using a 7% return adjusted for inflation, they calculated that hitting $100,000 by age 30 could grow into $1 million by age 65 without adding “a single penny.” Even better, they figured it would only take about $10,000 a year for five years to reach that $100,000 mark.
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“It is simple, but it isn’t easy,” the most upvoted response summed up the mood of the thread. “If it were easy everybody would be doing it.”
Many commenters agreed the math itself checks out. Starting early gives compounding decades to work. “Time is the most helpful thing when planning for retirement,” one person said. Another was even more straightforward: “You’re not missing anything; it really is that easy when you have time on your side.”
But the replies quickly moved past spreadsheets and into real life.
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Inflation, Life Events And Curveballs
A major theme was that $1 million may not mean what it sounds like decades from now.
Using common retirement rules of thumb, many noted that $1 million supports about $40,000 a year in withdrawals. As one person put it, “A million only yields an annual income of 40k.” Another questioned what $40,000 would buy in 40 years.
Inflation came up again and again. Several commenters argued that by the time today’s 24-year-old reaches retirement age, they may need $3 million, $5 million or more to maintain a comfortable lifestyle.
Then there is life itself.
“It only takes one major, unfortunate life event to wipe out everything,” another warned,
The message was consistent: early momentum creates flexibility, but assuming nothing goes wrong is risky.
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Should You Coast After $100,000?
The original poster floated the idea of easing off after hitting $100,000 and only contributing enough to get their employer’s match.
This is where many commenters pushed back.
“Every dollar you continue to save means retiring earlier,” one person wrote. Another warned against underestimating future costs, saying, “Money is meaningless unless measured against the task.”
The most common advice was not to plan on coasting just because the math allows it. Continuing to save creates options: earlier retirement, a larger buffer for emergencies, or simply less stress later.
A few commenters also noted that retirement accounts are not the only way to build long-term wealth.
Starting early really does matter. Getting debt-free young and investing consistently can result in enormous long-term advantages.
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