I’m a Millionaire at 34 and I Still Track Every Purchase. When Can I Relax?

There are plenty of Americans who never manage to become millionaires in their lifetime. But this Reddit poster has achieved that impressive feat by the age of 34.

The poster is thankful for having reached that milestone, and they also insist that they worked very hard to get there. But the poster is also more concerned about money than they perhaps should be.

There’s a difference between tracking spending and obsessing over it

The poster here has a very clear sense of where their money goes. They track their expenses as well as their assets to have a big picture view of their finances.

That’s not necessarily a bad thing. In fact, it’s a good thing to be aware of your spending and remain mindful of it even once you become wealthy. That mindset, in fact, can help you hang onto your wealth rather than blow it.

Where things become problematic is when you start to constantly worry and obsess over your spending. And the poster may be inching toward that place.

The poster says their life is still “uncomfortable” despite their wealth. They also feel that becoming a millionaire is a bit of a letdown.

As the poster writes, “I didn’t have any money growing up and always thought reaching millionaire status would mean financial safety. Very, very thankful for the position we are in today, but it’s obvious how far we still have to go.”

Now it’s okay for the poster to want to aim for more wealth. The reality is that $1 million isn’t a whole lot of money to retire on, and they may have other goals they need more wealth to achieve.

But becoming a millionaire by your mid-30s is nothing to scoff at. So the poster may need someone to help ground them a bit.

A financial advisor can help put your wealth in context

The poster should not start spending their money recklessly simply because they’ve accumulated a lot of it. And it’s okay to still have some financial stress even after becoming a millionaire. But if the poster’s financial worries are eating away at them, it’s a sign that an intervention is needed.

First, the poster may want to talk to a therapist to help work through their feelings about money. The poster might also benefit from working with a financial advisor.

A financial advisor can help them come up with a budget that allows them to enjoy their money while also enabling them to save for their big goals. Plus, a financial advisor can set them up with strategic investments so that the money they’re putting away can grow even more.

It might also help the poster to understand how they stack up to their peers. As of 2022, the median net worth among Americans under age 35 was $39,000, according to Federal Reserve data. The fact that the poster has $1 million by 34 shows that they’re clearly ahead of the game.

That doesn’t mean they should stop trying to grow their net worth. But they should take comfort in what they’ve achieved and enjoy their success rather than continue to focus on the fact that they still have work to do.

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