Welcome to my humble corner of the internet.
I apologize, I should introduce myself. I am The Money Wizard, and just last week I accomplished a little something I’m a little bit proud of. At age 25, I now have $100,000 in the bank.
No inheritances, no windfalls. Just lots of saving, basic investment, and a desk job in the finance industry (which is far less glamorous than it sounds) that places my salary barely above the median household income here in the U.S. of A.
And now my wizardly ways will be shared with you. We will be demystifying the magic behind personal finance. We will be using everything I know from a degree in finance and economics, my current job in the finance sector, and the real life experiences that have allowed this 25 year old to reach a net worth of $100,000 faster than you can say, “You’re lying, liar.”
I am not lying, and I promise to show that accumulating wealth is no magic secret.
I am certainly not an investing genius. Nor are there any “get rich quick” schemes on this site. My goal here is to remove the mystique surrounding money… To turn off the fog machine, pull back the curtain, and flip on the lights in the room.
There is an entire industry which thrives on making finances seem complex and complicated. My goal is to share a common sense approach to personal finance. By making money a little less magical, I truly believe anyone can implement my not-so-revolutionary ideas to improve their finances.
To prove my point, you will have a front row seat as I work towards my next milestones: $250,000 and, eventually, $1 million and an early retirement from the soul sucking rat race.
Whether you are struggling with debt or laughing at my puny net worth, I hope this blog will share the financial power of having your own personal money wizard.
Sounds like fun right? No?? Don’t worry, we will be keeping things entertaining and light hearted. And along the way, don’t be surprised if you find your inner money wizard.
Now, let’s get to it.
Awesome! Congratulations on your accomplishments so far and good luck on the rest of your journey! My inspirations as of a year ago have also been ERE, MMM, GCC and additionally “jlcollinsnh” and Mad Fientist but this will be great to follow someone as close to the beginning as I’ve seen yet! Thanks for writing.
All winners. Those guys definitely have the post-retired life covered; hoping I can provide the perspective of someone at a little different point in the journey. Thanks for following!
Hey man been reading sites like this for a long time and just came across yours, awesome stuff! We’re in pretty similar places, I’m 24 and work in a relatively lower paying finance job but I’m up to almost 90k in investments and max out my 401k and traditional IRA every year and started investing really young as well. Keep up the great work this is cool to see someone on a similar path!
This is a great community! I have followed MMM for a while, but am at the earlier stages of things too. I just turned 30, have seen the light, and am trying to put myself on a track to retire at 46. Please keep up the writing – you have an easy to enjoy style.
I recently read The Index Card: Why Personal Finance Doesn’t Have to be Complicated by Helaine Olen and Harold Pollack. It also was a tremendously helpful resource for folks looking into this lifestyle.
Thanks, and welcome aboard! Hope to see you around!
I am curious about how much money you initially invested in stocks and 401k when you just started. And how much was your saving at the time? I am just starting to invest and not sure how much I should start off with… I don’t want to risk too much but at the same time gain a good return. I am thinking maybe starting off with 2-3k but I won’t get much out of that. Any suggestions?
My first time jumping into the stock market I had a similar amount of money.
When I first started my career, I only invested around 5% into my 401K. Looking back, I wish I invested more through my 401K.
My advice to new investors is just do it. With index fund investing, it’s not like you need the analytical skills to pick individual companies. Just pick a low fee index fund and the rest will take care of itself.