A 27-year-old personal finance creator breaks down the investment portfolios he's using to reach $2 million in 8 years — and shares the account types and categories of stocks he believes will accelerate his returns
Austin Hankwitz went from being a financial analyst at a healthcare company to a personal finance content creator with over 700,000 followers on TikTok.
Hankwitz ideally wants to reach that number in eight years, but he's open to the possibility that it could take up to 15 years. Even with the stretched timeframe, it still gives him the option to retire in his late 30s or early 40s. But in reality, he plans to continue working and investing even after that age. The additional time also factors in the market's performance and his ability to continue meeting his monthly deposit requirement.
"I have this awesome income that is going to allow me to achieve this number. But this number might be completely different for you," Hankwitz said of anyone who wants to follow his example. The second is a retirement account which is a self-employed or solo 401, broken down into two sections: a Roth with an annual contribution limit of $22,500 and an after-tax account with no contribution limit. are the first category that make up the majority of his holdings because he believes they can accelerate growth. These stocks account for 35% or about $17,000 in this account. He likes the idea of being passively paid for owning shares of a strong company.
Third, he has 25% of his exposure allocated to what he refers to as his riskiest stocks. These are names he is personally excited about. Then, his after-tax account is money he has already paid taxes on but can grow tax-free from there on. In this section, he has $46,574, with 44% of his allocation in ETFs, about 43% in stocks, and 13% in cash.
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