I grew my net worth from $70,000 to $700,000 in 5 years: Here is my best wealth-building advice
“At 33, I’m 10 times richer than I was just 5 years ago.”
By | Mandi Woodruff-Santos | grow.acorns.com
When I found myself about to chart a new course in my career in May of 2021, I called my financial planner to see if I could afford to make the leap to go out on my own as an entrepreneur.
My toddler son was two months away from starting a $2,200/month day care and I had just left my six-figure job in marketing to focus on my long-running podcast “Brown Ambition” and start a consulting business. My husband’s government salary covered less than half our household expenses, and it seemed like we were going to need to tap into our savings until my bootstrapped business got off the ground.
I hopped on the Zoom call that morning with our financial planner half expecting her to laugh in my face and tell me to start dusting off my LinkedIn profile, but she didn’t. Instead, she shared her screen to show me just how far I’d come in the five years since we started working together.
I had increased my net worth tenfold, from $70,000 to more than $700,000. If I stayed on this track even without contributing another cent to my investment portfolio, I’d likely be a millionaire before my 40th birthday.
