My first million

While writing my last net worth update, I noted that I had Php 41,330.85 to go before I made a million. I estimated that it may take me a few more months before then. I wishfully hoped that I made my million at least before I get married or before I turn thirty. I pored over my expenses the past year and noted which areas of my budget I overstepped. I lamented that I need to cut down even further than I did in 2015 in order to meet my goal.

Before I knew it, I had reached my goal – one million net worth. My current net worth is:

PhP 1,041, 412.53


This is broken down as follows:
Cash 44.12%
Stocks 30.23%
Equity in condo 25.65%

How does it feel to be a millionaire? I’ve been planning and dreaming of this for so long it felt anti-climactic. No fireworks went off. I’m still the same person. I still didn’t have enough passive cashflow to quit my job and have an early retirement.

Still, there is that awareness of financial stability and a feeling of security. I felt good about achieving my goal. I don’t think I look or live like a millionaire. As a frugal and young lawyer in my twenties, I bet most people wouldn’t perceive me to have a lot of money, much less a millionaire. And that is really the point isn’t it?

How else does one become a 20-something millionaire? I lived frugally and kicked off my fast fashion habit. I let go of spending so much money on expensive restaurants and going clubbing every Friday. Living in Cebu City really helps. The laid-back atmosphere here and the general attitude of Cebuano frugality were contagious. Just when I needed it, I was surrounded by people who made a lot of money and had the right attitude to saving and spending.

Working at a job that is less stressful and with reasonable hours likewise helped. Since I don’t put in 14-hour workdays anymore, there was no need to spend so much money on stress-induced cocktails and dinners out! I could do those at home. Less stress also results to less stress-driven shopping.

Another issue once you reach the million mark is the worry that one might mismanage this. Right now I have a vague idea of what my next project will be and I hope I continue to manage my money well.

I’m still not in the ideal 2 million net worth as the Millionaire Next Door says I should, but I’m getting there.  How have you managed your net worth so far?

To the next million!
20 something lawyer


20 thoughts on “My first million

  1. A bit late but congratulations anyway! 🙂

    I’ve started my goal to the 1st million and I’m still far off. I thought starting a blog would help keep me motivated, and I started googling to see if anyone had the same idea as me (that’s how I found your blog). Good luck on the new goal!


  2. If you’re having trouble keeping track of your separate funds, I suggest using an app called AnMoney. I actually have a blog post about it. Just scroll down near the bottom.

    So even if you combined some funds for a larger interest, you won’t be confused about how much actual amount goes into which fund. Of course, when you do gain interest, you have to make a decision which fund the profit goes to.

    Hope this helps. My blog isn’t updated now and the percentage breakdown has changed over the years but the concept is still the same and I’ve been using the app since 2011. It really helps when I can see at a glance how much I ALLOW myself to spend from a particular fund.

    Liked by 1 person

  3. My heartfelt congratulations to you. I made my first million when I was 28, mostly because I was assigned overseas for 11 months. Before I left, I had around 800k. (You’re right, it was anticlimactic. I didn’t even really notice.) I seriously started in the stock market when I was 26, although I was already saving money way before that. I had no other source of income but my job. Now, I’m 31 and recently passed my 2 million mark. I’m happy to say I got my then-boyfriend, now-husband, out of debt by teaching him to manage his funds, and now, he’s more active in the stock market than me. Now, we’re planning to build apartments so we can have passive income and finally, FINALLY quit working.

    So I know exactly how you feel and I hope you never lose sight of your goals.


    1. Hi ysera, a millionaire at 28 is an amazing feat! Thank you for sharing, I am currently working on my second million.

      I do feel that the future added costs of marriage and potentially (hopefully) children will slow my net worth growth somehow. It appears though that marriage hasn’t stopped you from reaching two million. Congrats again to you!


      1. I had a separate fund for wedding expenses. I didn’t want it interfering with my investments or even my travel fund. Basically, I just strategically budgeted both of our income since we didn’t get money from our parents for the wedding. You wouldn’t believe how crazy I budgeted it. Lol. I also refused to get a wedding coordinator because I thought 25k was downright expensive. So I was totally hands on in every aspect of the wedding planning. In the end, I got a headache and just wanted it over with. Haha. We spent 430k in total for a wedding in Manila that we could be proud of. My uncle actually thought we spent a million on it.

        Liked by 1 person

      2. Thank you so much for the tips ysera! I imagine manila weddings to be hella expensive.
        We are paying for our own wedding as well. Unfortunately I have comingled the wedding fund with my other loose cash. I thought a larger balance might result to higher income in interest.

        The slightly inflated balance of my cash deposit though makes me uneasy, knowing it’s not all for keeping. This is also why I’ve avoided posting a net worth update as well.


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