The First $100,000
Would it not be great to reach 100K while enjoying a holiday. I hope you reach that milestone
This comment blew my mind.
May was crazy busy getting ready for our big trip to the United Kingdom and Paris. We planned to spend 5 weeks away from home and away from work. That involved a lot of preparations and I really didn’t have time to sit down and think about the possibility of breaking $100,000 WHILE ON VACATION. As soon as I read that comment, I wanted it to happen. I wanted to prove that amazing things can happen while taking a rest on a moving sidewalk.
Saving $100,000 On Vacation!
During the month of June, Mr. T still received regular paychecks (as he just utilized his amazing amount of PTO). I, on the other hand, am paid hourly. If I work no hours, I get no money. Because I didn’t work at all for the month of June, we made less money than we have all year. And we STILL managed to break $100,000. I got home from vacation, logged into my trusty Personal Capital account, and saw 6 figures!
Money begets more money. It’s true. I’ve proven it. Despite Brexit, the market ended slightly up and we tipped the scales.
I’ve read over and over again that the first $100,000 is the hardest. Since we’ve now hit that number, I hope this statement is true. Smooth sailing from here on out, right?! I don’t have anything to compare it to (since we haven’t saved our SECOND $100,000), but I can say it’s hard to start. The first $100,000 is saved dollar by dollar. And it requires hard work because there is less money in the account to compound.
Just like most things, starting is always the hardest. Once you get your feet under you (or save your first $100,000), you’re in the groove. You gain momentum. And there’s more money to compound, so we earn more money doing nothing!
Breaking $100,000 on vacation has changed everything. I didn’t check my accounts once on vacation. I enjoyed time away. I traveled. I lived life. I did what I wanted to do. And when I got back from a month of living like we’re already retired, I was rewarded with big numbers. If that can happen, we can do anything! Saving our first $100,000 has boosted my confidence. We might actually be able to save enough to fully retire early! We might actually be able to achieve our lofty financial goals for the year! And time away has allowed us to clear our heads and figure out where we really want to focus our efforts in Q3, Q4* of 2016.
Markets might tank, and we could easily be kicked out of the 6 figure club tomorrow, but we did it. And markets tanking just means we still have the same number of shares for when the stocks go back up!
We caught a glimpse this month of what it must feel like to have our money work for US instead of us working so hard for our money and it made us even more committed to saving more of it so we can experience that freedom all the time!
Here’s to the next $100,000!
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*That’s right, now we’re talking about our finances like we’re a business! See what $100,000 does to you!?
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