Do most people on DCUM have a net worth of at least 1 million?

[Anonymous]

we don't. Just plugged in our numbers and about 775k including home equity and retirement.

[Anonymous]

Anonymous wrote:I’m wealthy

Me too. Many millions

[Anonymous]

Anonymous wrote:

Anonymous wrote:Most of it comes from their home.

If you were to take the home out of their 'net worth', most of the posters are not really millionaires.

But it is part of their net worth. If you took away Jeff Bezos' Amazon stock, he would not be a centibillionaire.

Stocks are more liquid than someone’s home residence.
Stocks > home.

You’re not very bright.

[Anonymous]

I'm divorced and my net worth is around $1.8 million (mostly in real estate equity, retirement and taxable brokerage accounts). I do not feel rich, I am very frugal and I'm pretty much paycheck to paycheck.

[Anonymous]

age matters - a lot easier to have 1 mil @50 than @35

[Anonymous]

We have over 1 million in our combined retirement accounts. We are in our early forties. Then another 500k or so in home equity. We are definitely not wealthy compared to people in our friend group or neighborhood though so I would say that most people in this area have a minimum of 1mil - especially with 2 working adults. We are a single earner family of 3

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Most of it comes from their home.

If you were to take the home out of their 'net worth', most of the posters are not really millionaires.

But it is part of their net worth. If you took away Jeff Bezos' Amazon stock, he would not be a centibillionaire.

Stocks are more liquid than someone’s home residence.
Stocks > home.

You’re not very bright.

Bezos' Amazon stock is most certainly not liquid. If he tried to liquidate it, it would crash. You are not bright.

[Anonymous]

Anonymous wrote:We have over 1 million in our combined retirement accounts. We are in our early forties. Then another 500k or so in home equity. We are definitely not wealthy compared to people in our friend group or neighborhood though so I would say that most people in this area have a minimum of 1mil - especially with 2 working adults. We are a single earner family of 3

Well your retirement accounts aren't liquid if you are in your 40s, so according to the posters here, you can't count those. Also can't your home equity. So you are poor.

[Anonymous]

Net worth is over $1 mil but that is due mostly to family gifts.

[Anonymous]

I'd say so, but many are talking about family and/or couple money. I'm super low earner ($10-$50k a year for 20 years). who never had a retirement offered at work and I'm worth almost 500k.
If you have worked for 20 years and have retirement and home, you should be getting close or been there at some point unless something happened that wiped it all out. Lots of 40+ year olds here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We have over 1 million in our combined retirement accounts. We are in our early forties. Then another 500k or so in home equity. We are definitely not wealthy compared to people in our friend group or neighborhood though so I would say that most people in this area have a minimum of 1mil - especially with 2 working adults. We are a single earner family of 3

Well your retirement accounts aren't liquid if you are in your 40s, so according to the posters here, you can't count those. Also can't your home equity. So you are poor.

DP here. Well you absolutely count them but it certainly doesn’t make me feel “rich” because I can’t go buy anything fancy or super fun with that money. So it’s sort of misleading. Same with home equity. I’m not trying to cry poverty or anything so don’t flame me.

[Anonymous]

Anonymous wrote:age matters - a lot easier to have 1 mil @50 than @35

This

If you start saving seriously in your twenties, by your late forties it really starts adding up.

My 401k balance is around $1.8 million. I’ve been working for 30 years and my salary didn’t break $100k until about 15 years into my career. It’s only about $150k per year now.

[Anonymous]

Anonymous wrote:People who are doing well are more likely to be proud of that and then comment on questions about money/wealth. People who are in debt or haven't had time to save a lot are less likely to post about their situation.

This right here. Survey bias.

[Anonymous]

About $2 mil, mostly in 401k started early 20s, now late 40s, fairly generous employer matches, made sure to get company match but have not maxed out.

[Anonymous]

DCUM folks were worth that much when they were 7 and opened a lemonade stand