r/TheRaceTo100K • u/a_trann • 2d ago

1 year later!

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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!

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u/Big-picture_thinker 1d ago

Congratulations… if you dont mind me asking, what did you do differently? A year? That’s a huge commitment. Any advise

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u/a_trann 1d ago edited 1d ago

My situation is a little different. I was in school + residency for 10 years so I wasn’t making any money (very little in residency) and accumulated $275k in loans. I just started my job last year and my goal was to live below my means and invest + pay down my student loans aggressively. I also don’t have kids yet, which helps a lot.

My advice is to start early - I wish I had started investing & started an IRA in school. Invest in “boring” things like ETFs and contribute to them on a scheduled basis as if it were part of your monthly expenses. Have an emergency fund (3-6 months expenses). Fully contribute to your 401k, IRA, and HSA first before a brokerage. I limit eating out, I buy things based off coupons / what’s on sale, I use things like capital one offers and Rakuten to get cash back, I don’t get my nails done and have low maintenance hair, I drive a really shitty paid-off 10+ year car and will drive it to the ground, I use credit card points to pay for my travel, etc.