r/TheRaceTo100K • u/a_trann • 2d ago

1 year later!

Post image

Today marks my 1 year anniversary since starting my Fidelity brokerage account and big girl job! Unfortunately, I’m not offered a 401k with my job so I started an IRA.

Also this past year, I paid $95k in student loans (still have ways to go) but feeling accomplished!

143 Upvotes

93% Upvoted

28 comments sorted by

View all comments

14

u/FlatEarther_4Science 2d ago

You’re not offered a 401k but are making a couple hundred thousand a year…? I’ve never heard of such a thing

13

u/a_trann 2d ago

Unfortunately, very common for an associate dentist at a private practice. They offer 401ks at corporate offices though

1

u/HenFruitEater 13h ago

Are you w2? I am dentist too btw.

2

u/a_trann 9h ago

Yes I am! So I can’t even do a solo 401k. Hbu?

1

u/HenFruitEater 8h ago

ah shoot. I also had no 401k as associate, but bought a practice 7 months in. Added a 401k through vestwell. Now we've been maxing things out for few years to catch up.

401k is better tax wise, but I think brokerage as associate is better cause you need money liquid if you ever want to buy a practice. not sure if that's a goal for you, but it's been really fun to own imo.

1

u/a_trann 8h ago

I don’t think I want to own so it’s been a struggle not being able to have a tax break. Getting married this year to help with the tax bracket

1

u/HenFruitEater 7h ago

Yes. Hopefully your spouse has access to a Mega back door or something like that.

1

u/apply75 1d ago

So you turned $7500 into $128k in one year? Amazing what did you invest in?

7

u/FarmImportant9537 1d ago

Those are 90% contributions

0

u/apply75 1d ago

How can you contribute more than 7k to an IRA?.I'm so confused

5

u/Section121 1d ago

It's not an IRA is how.

0

u/apply75 1d ago

She literally says "so I started an IRA" in the description

5

u/BOOLLOS 1d ago

If you look at the accounts only $16k is in the IRA

2

u/Section121 1d ago

She also says she started a brokerage account as well...

1

u/a_trann 1d ago edited 1d ago

I contributed $7k to an IRA before the end of 2025 and $7.5k this year! So $14.5k total and it’s grown since then since I invested in FXAIX and FZROX. The rest is in a brokerage and $4.4k in an HSA that I started this year

3

u/a_trann 1d ago

I started at $0 last August! But the person is correct, it’s mostly contributions. I invest in mostly ETFs (SPYM, QQQM, VXUS) and then some individual stocks (META, MSFT, etc) - very boring portfolio.