How many 55yo that you know in DMV have $3M+ NW?

[Anonymous]

52, DW is 51, $11.5M net worth... I worked at Lumon for 28 years, on the severed floor. Managed to steer clear of Ms Cobel, Mr Milchick and The Board, ...was successful binning a lot of scary numbers, got the deviled egg cart more times than I can count. Found the hidden security closet with the internet computer about 6 years ago so I can sneak off and read DCUM every so often and see how I compare. I thank Kier every day that we have done so well and are keeping up with our DC neighbors in Great Falls.

[Anonymous]

You people are so bizarrely obsessed with class and where you stack up.

[Anonymous]

Anonymous wrote:You people are so bizarrely obsessed with class and where you stack up.

You clearly didn’t get the joke

Bravo, OP. May you get all the deviled eggs.

[Anonymous]

I don’t know our NW, but we are 53/54, one retired. House value is probably approaching $1 mil and not far from being paid off. 403b accounts have done well and we each have two pensions, but I know pensions probably don’t figure into net worth, or how they would.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I really don’t know but assume most people i know have more than $3m by 55 even without including their house. I have more than that just in my 401k.

I make 7 figures but don’t flash it around and am pretty frugal. I’ve lived in the same house for more than 25 years and paid it off several years ago. That’s why I have more than $10m saved.

Did you have access to a very aggressive growth fund for your 401K? I have wondered how people get that high.

I’m 62 and have paid in the max allowed tax deferred since I was in my 20s. Had matching at 2 employers, I think one was 3% and the other 6% of comp up to max. It’s mostly just time/compounding.

Fascinating. We spent below our means. Live in a house that can be afforded on one income. Weve co tributes max to 401k and have other investments. Cars at 10 and 20 years old. We have taken a weekend car trip and paid hotel on points. Visit out of state parents1-2 times per year. Advanced degrees. Eat-in. Mid 50s. NW $2M in NOVA.

NP - I am 52, with $2.8m in 401k. Started saving at 30 (and try not to think about where they would be if I'd started at 25). I was very fortunate that for about the first 6 years, my employer double-matched all contributions, up to 6% of salary. So, if you made $100k, and contributed at least $6k, the employer would contribute $12k. Starting work there prompted me to start maxing out contributions, which I have continued ever since. No, 22 years later, I can contribute the IRS maximum of $69k.

[Anonymous]

Anonymous wrote:I assume a lot of that wealth is concentrated in major cities, including DC.
We have about 20M, depending on market fluctuations, but never earned more than 150K a year in household income. If we could do it, I assume many others can.

Wow, well done, PP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You people are so bizarrely obsessed with class and where you stack up.

You clearly didn’t get the joke

Bravo, OP. May you get all the deviled eggs.

That wasn’t me — OP