Jake and I have both been investing for a few years now, but it didn’t always look as intentional as it does today. In the beginning, we’d just throw in extra money whenever we happened to have it. There wasn’t really a plan, just the vague understanding that investing was something responsible adults did.
Over time though, we realized that random deposits weren’t going to move the needle much. So we started scheduling transfers through Fidelity and making investing part of our actual financial routine. Just recently, we both decided to up our contributions to $500 per month each.
I asked ChatGPT to calculate how much I’d need to invest monthly to reach $1 million by the time I turn 50. The answer? Right around $500. That means if Jake and I both stick with it, by the time I’m 50 (and he’s 56), we could have about $2 million invested. That number feels huge, and honestly a little intimidating, but it also feels incredibly motivating.
We’re learning as we go, but one thing that’s helped me stay consistent is automating everything. I no longer try to “time” the market or pick individual companies. My automatic investment runs every two weeks straight into VOO, which is an ETF that tracks the S&P 500 index. It’s simple, diversified, and consistent, which is exactly what I need.
When I first saw how much we’d need to invest to reach that goal, it was definitely overwhelming. It made me realize how much we’d need to cut back on things like eating out or buying random things we don’t really need. But the good thing about automatic investing is that you don’t have to think about it. It comes out of your account before you can spend it elsewhere, kind of like paying your future self first.
Our long-term goal is to retire early and live comfortably, with enough flexibility to travel and actually enjoy that stage of life. We may not know everything about investing (we definitely don’t), but we’re learning together, and that consistency will pay off far more than perfection ever could.
So if you’ve been thinking about investing but feel like you don’t know where to start, just start small, set it to automatic, and let time do its thing. Your future self will thank you!
Disclaimer: The information in this post is based on our own experience and should not be taken as financial advice. Everyone’s situation is different—find what works best for you and your family.
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