What Reaching $100K, $500K and $1M Really Feels Like
When you’re saving, investing and budgeting, it can be helpful to set financial milestones. For instance, setting a certain money goal to hit by a specific date.
Some of the most common net worth milestones include $100,000, $500,000 and $1 million. Whatever your mark, part of the joy can be found in the journey along the way.
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To get a better sense of what it really feels like to reach such financial milestones, MoneyLion talked to Andrew Lokenauth, founder of the blog Fluent in Finance, and his wife, Jasmine Charbonier, an entrepreneur and founder of Your Tampa Bestie.
Reaching $100K
“The first $100,000 was the hardest and the most emotional for me,” Lokenauth said. “I hit it in my late 20s after years of grinding and I expected fireworks. What I got was relief mixed with a letdown, because my life looked the same the next morning.”
He added that Charlie Munger once said the first $100,000 is a brutal climb and he was right. That's the number where compounding starts pulling real weight, according to Lokenauth.
“For me, hitting $100,000 didn't feel glamorous at all,” Charbonier said. “I built my brand from my kitchen table in Tampa and that first six figures felt like proof I wasn't crazy for betting on myself. I cried a little. Then I went back to editing photos that same afternoon. The number changed, my to-do list didn't.”
Reaching $500K
According to Lokenauth, $500,000 felt different.
“That's when I stopped opening my accounts out of fear and started opening them out of curiosity,” he said. “The money earned real amounts on its own. In a good year my portfolio gained more than I saved from my paycheck and that changed how I saw work.”
Charbonier agreed and said that $500,000 is when things “got real” for her.
“I stopped saying yes to every low-paying gig and started choosing work I loved, like travel pieces and food features around Florida,” she said. “That freedom felt better than any deposit.”
Reaching $1M
If you have yet to reach the $1 million mark, you may be surprised by how Lokenauth and Charbonier felt at hitting this milestone.
“By $1 million, the thrill was gone,” Lokenauth said. “The milestone I chased for years slipped past on a random Tuesday and I moved on with my day. Each number bought less excitement and more calm. The real payoff was peace of mind, plus the freedom to make choices from options instead of pressure.”
Here’s how Charbonier explained her feelings:
“By the time I crossed $1 million, the feeling had flipped. Early on, money felt like survival. At $1 million, it felt like choices. I could book the trip, pass on the wrong client and help my family without stress. The milestones mattered less than the calm they gave me. If you're chasing a number, chase the peace behind it.”
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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