Do many households here have $15 M net worth or more?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Has anyone noticed that in DCUMlandia nobody has EVER picked a stock loser?!?

This place is magical.

lol. I bet $5k on Nokia a long time ago because they were going to be the comeback kid with Windows phone. Despite lots of insight into tech markets I've never managed to pick a big winner deliberately. Now I just invest in VOO.

All the "experts" on here are full of it. If it's so easy to go from 200k to millions then it should be equally easy to do it again and go from millions to 100M and then a billion. Just keep betting it all on the next winning horse.

PP here who made that $190K “bet” on AZO in 2002. Never said I was an expert. I’ve had my share of losing investments as well.

And now I’m working on my next $10M LOL. Bought into a San Diego based tech company called Cymer in the late 1990s. I doubt you’ve heard of it. This company developed the technology to make EUV lasers for photolithography. They were bought by a Dutch tech company called ASML in 2013 in a cash/stock deal when ASML was trading around $75/share. You may have heard of this company. They are in my opinion THE ultimate tech company. They have a monopoly on EUV photolithography for making advanced chips. Without their advanced EUV photolithography machines to make cutting edge chips there is no AI, Nvidia, iPhones, Apple, Meta, Taiwan Semiconductor, Google, Samsung, Intel, AMD, Micron, etc. The modern tech-based economy would not be where it is today. ASML is current trading around $1400 per share. Successful market beating individual stock investing can be done by us lowly common folk without the Ivy League degree or the high power finance career. Happy investing.

So you had $2M 24 years ago and you only have $10M now?! So you didn't replicate it. Hope you don't lose it all now on this unicorn stock.

What? No. $10M from that one investment. I didn’t mention my other investments Sorry I wasn’t clear.

You need to diversify. These companies still have their life cycle

I’ve moved some into other investments in aerospace, nuclear, machinery, robotics, oil, rare earths, medtech and biotech. Semiconductor is definitely cyclical so watching that with ASML. For AZO I haven’t sold one share in 25 years but I do borrow off of it with equity loans to fund some of my lifestyle. Thanks for the advice.

All of the listed went down a lot in recent months. I don’t believe a word of it.

And that’s your equity loans interest rate ? Why would somone worth millions borrow against stocks to maintain basic lifestyle ?

Because you don’t pay taxes on loans only on income/capitals gains. See the “Buy, Borrow, and Die” strategy.

iF you have millions, you are already earning interst and dividends and can harvest gains and losses to lower tax rates.

You clearly don’t get it.

[Anonymous]

I’m early 30’s with 1.6 with a stay at home spouse, probably won’t ever be higher than inflation adjusted 5-10 mil unless something crazy happens

[Anonymous]

15 M is not out of reach for most UMC couples. We are aiming for 20 M (in today’s dollars) for our retirement.

[Anonymous]

Everyone has or will have $15m on this forum. Silly

[Anonymous]

Anonymous wrote:15 M is not out of reach for most UMC couples. We are aiming for 20 M (in today’s dollars) for our retirement.

Are you sure that’s enough? A basic beach house is $6 M these days.

[Anonymous]

Thankfully we bought our vacation home during the pandemic.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No. Plenty of liars on this forum. You have to be a consistent high earner (close to 7 figures)
And/or inherited significant $$ at a younger age (pre 40) to have 15m nw. The cost of living here along with raising children chews up significant part of your earnings. We are close to 60 with a 8m nw, with consustent high earnings, simple living, with zero inheritance. We do expect to inherit around 2m within 5 years so even with that we are not going to be close to 15 at age 65 or so.

1. Most people have no incentive to lie on DCUM.

2. We are worth 20M+, no high income ever, no inheritance yet. It's solely due to lucky investments in the stock market. It happens more often than you realize. We know a few other people in the DC area who made their millions that way, all from the middle class. We all live non-flashy lives.

So what exactly was your strategy? All in on Apple in 1999?

[Anonymous]

Anonymous wrote:

Anonymous wrote:No. Plenty of liars on this forum. You have to be a consistent high earner (close to 7 figures)
And/or inherited significant $$ at a younger age (pre 40) to have 15m nw. The cost of living here along with raising children chews up significant part of your earnings. We are close to 60 with a 8m nw, with consustent high earnings, simple living, with zero inheritance. We do expect to inherit around 2m within 5 years so even with that we are not going to be close to 15 at age 65 or so.

1. Most people have no incentive to lie on DCUM.

2. We are worth 20M+, no high income ever, no inheritance yet. It's solely due to lucky investments in the stock market. It happens more often than you realize. We know a few other people in the DC area who made their millions that way, all from the middle class. We all live non-flashy lives.

We saved like mad on our MC income but invested in boring index funds and we arent even over $1m in our 50s. Buying a home, daycare costs, all ate so much of our early income — and indexs did fine but you arent turning $60k a year into $M with diversified portfolio.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can become quite wealthy without a very high income if you spend a lot less than you do earn and consistently and sensibly invest the excess over a long period of time. The time value of money is very powerful. As Einstein said, compound interest is the 8th wonder of the world.

Save $1M, add $1K/month for 40 years, earn an average of 10% annually (the historical long-term return of the stock market) and end up with $50.5M.

40 years is a long time, so patience, focus, and discipline is required, as is the initiative to accumulate that initial $1M. But it can result in a very comfortable, financially secure retirement.

Start with a million dollars and earn 10% a year is a hell of a plan, I love it.

How else do you think people become wealthy? By not saving anything and just waking up one day with millions? $1M is achievable for almost anyone who starts saving and investing early and sticks with it.

Start at age 20 with $1K, earn 10% for 10 years, adding $1K/month, and you end up at age 30 with nearly $200K. 10 more years, you'll have $710K. In 5 more years you'd be 45, and would have $1.2M. 30 years later, when you're you'd be 75, and would have $23M.

Begin with a higher starting balance from summer or part-time employment, or save more each month, and your ending balance will be even larger.

Only a lack of vision, along with discipline, is stopping you.

Lack of vision but also market volatility, inflation, and math.

Time takes care of market volatility, inflation, and the math. You can and should adjust your contributions to your investments upwards as your income grows with inflation. Volatility is of no concern if you have a long-term investment horizon and/or don't need to take much from your portfolio.

https://www.nerdwallet.com/investing/learn/average-stock-market-return

Who can save $1k a month as a 20 year old? Many people have student debt and savings for buying a home taking priority.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can become quite wealthy without a very high income if you spend a lot less than you do earn and consistently and sensibly invest the excess over a long period of time. The time value of money is very powerful. As Einstein said, compound interest is the 8th wonder of the world.

Save $1M, add $1K/month for 40 years, earn an average of 10% annually (the historical long-term return of the stock market) and end up with $50.5M.

40 years is a long time, so patience, focus, and discipline is required, as is the initiative to accumulate that initial $1M. But it can result in a very comfortable, financially secure retirement.

Start with a million dollars and earn 10% a year is a hell of a plan, I love it.

How else do you think people become wealthy? By not saving anything and just waking up one day with millions? $1M is achievable for almost anyone who starts saving and investing early and sticks with it.

Start at age 20 with $1K, earn 10% for 10 years, adding $1K/month, and you end up at age 30 with nearly $200K. 10 more years, you'll have $710K. In 5 more years you'd be 45, and would have $1.2M. 30 years later, when you're you'd be 75, and would have $23M.

Begin with a higher starting balance from summer or part-time employment, or save more each month, and your ending balance will be even larger.

Only a lack of vision, along with discipline, is stopping you.

Lack of vision but also market volatility, inflation, and math.

Time takes care of market volatility, inflation, and the math. You can and should adjust your contributions to your investments upwards as your income grows with inflation. Volatility is of no concern if you have a long-term investment horizon and/or don't need to take much from your portfolio.

https://www.nerdwallet.com/investing/learn/average-stock-market-return

Who can save $1k a month as a 20 year old? Many people have student debt and savings for buying a home taking priority.

I was paying off student loans and had a car loan but I still saved $1,000 a month after maxing my 401(k). Discipline and goals.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can become quite wealthy without a very high income if you spend a lot less than you do earn and consistently and sensibly invest the excess over a long period of time. The time value of money is very powerful. As Einstein said, compound interest is the 8th wonder of the world.

Save $1M, add $1K/month for 40 years, earn an average of 10% annually (the historical long-term return of the stock market) and end up with $50.5M.

40 years is a long time, so patience, focus, and discipline is required, as is the initiative to accumulate that initial $1M. But it can result in a very comfortable, financially secure retirement.

Start with a million dollars and earn 10% a year is a hell of a plan, I love it.

How else do you think people become wealthy? By not saving anything and just waking up one day with millions? $1M is achievable for almost anyone who starts saving and investing early and sticks with it.

Start at age 20 with $1K, earn 10% for 10 years, adding $1K/month, and you end up at age 30 with nearly $200K. 10 more years, you'll have $710K. In 5 more years you'd be 45, and would have $1.2M. 30 years later, when you're you'd be 75, and would have $23M.

Begin with a higher starting balance from summer or part-time employment, or save more each month, and your ending balance will be even larger.

Only a lack of vision, along with discipline, is stopping you.

Lack of vision but also market volatility, inflation, and math.

Time takes care of market volatility, inflation, and the math. You can and should adjust your contributions to your investments upwards as your income grows with inflation. Volatility is of no concern if you have a long-term investment horizon and/or don't need to take much from your portfolio.

https://www.nerdwallet.com/investing/learn/average-stock-market-return

Who can save $1k a month as a 20 year old? Many people have student debt and savings for buying a home taking priority.

I was paying off student loans and had a car loan but I still saved $1,000 a month after maxing my 401(k). Discipline and goals.

What was your income and at what age

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can become quite wealthy without a very high income if you spend a lot less than you do earn and consistently and sensibly invest the excess over a long period of time. The time value of money is very powerful. As Einstein said, compound interest is the 8th wonder of the world.

Save $1M, add $1K/month for 40 years, earn an average of 10% annually (the historical long-term return of the stock market) and end up with $50.5M.

40 years is a long time, so patience, focus, and discipline is required, as is the initiative to accumulate that initial $1M. But it can result in a very comfortable, financially secure retirement.

Start with a million dollars and earn 10% a year is a hell of a plan, I love it.

How else do you think people become wealthy? By not saving anything and just waking up one day with millions? $1M is achievable for almost anyone who starts saving and investing early and sticks with it.

Start at age 20 with $1K, earn 10% for 10 years, adding $1K/month, and you end up at age 30 with nearly $200K. 10 more years, you'll have $710K. In 5 more years you'd be 45, and would have $1.2M. 30 years later, when you're you'd be 75, and would have $23M.

Begin with a higher starting balance from summer or part-time employment, or save more each month, and your ending balance will be even larger.

Only a lack of vision, along with discipline, is stopping you.

Lack of vision but also market volatility, inflation, and math.

Time takes care of market volatility, inflation, and the math. You can and should adjust your contributions to your investments upwards as your income grows with inflation. Volatility is of no concern if you have a long-term investment horizon and/or don't need to take much from your portfolio.

https://www.nerdwallet.com/investing/learn/average-stock-market-return

Who can save $1k a month as a 20 year old? Many people have student debt and savings for buying a home taking priority.

My nephew is saving more than that (he's 23, not 20, but was doing that straight out of college). He went to a school that gave him a free ride, so no student loan debt. Just car payments. Makes 180K, but also works 80-100 hours a week.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can become quite wealthy without a very high income if you spend a lot less than you do earn and consistently and sensibly invest the excess over a long period of time. The time value of money is very powerful. As Einstein said, compound interest is the 8th wonder of the world.

Save $1M, add $1K/month for 40 years, earn an average of 10% annually (the historical long-term return of the stock market) and end up with $50.5M.

40 years is a long time, so patience, focus, and discipline is required, as is the initiative to accumulate that initial $1M. But it can result in a very comfortable, financially secure retirement.

Start with a million dollars and earn 10% a year is a hell of a plan, I love it.

How else do you think people become wealthy? By not saving anything and just waking up one day with millions? $1M is achievable for almost anyone who starts saving and investing early and sticks with it.

Start at age 20 with $1K, earn 10% for 10 years, adding $1K/month, and you end up at age 30 with nearly $200K. 10 more years, you'll have $710K. In 5 more years you'd be 45, and would have $1.2M. 30 years later, when you're you'd be 75, and would have $23M.

Begin with a higher starting balance from summer or part-time employment, or save more each month, and your ending balance will be even larger.

Only a lack of vision, along with discipline, is stopping you.

Lack of vision but also market volatility, inflation, and math.

Time takes care of market volatility, inflation, and the math. You can and should adjust your contributions to your investments upwards as your income grows with inflation. Volatility is of no concern if you have a long-term investment horizon and/or don't need to take much from your portfolio.

https://www.nerdwallet.com/investing/learn/average-stock-market-return

Who can save $1k a month as a 20 year old? Many people have student debt and savings for buying a home taking priority.

My nephew is saving more than that (he's 23, not 20, but was doing that straight out of college). He went to a school that gave him a free ride, so no student loan debt. Just car payments. Makes 180K, but also works 80-100 hours a week.

As someone who is also young and makes a ton of money, I can assure you this situation isn’t the norm and your nephew is very much the exception.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can become quite wealthy without a very high income if you spend a lot less than you do earn and consistently and sensibly invest the excess over a long period of time. The time value of money is very powerful. As Einstein said, compound interest is the 8th wonder of the world.

Save $1M, add $1K/month for 40 years, earn an average of 10% annually (the historical long-term return of the stock market) and end up with $50.5M.

40 years is a long time, so patience, focus, and discipline is required, as is the initiative to accumulate that initial $1M. But it can result in a very comfortable, financially secure retirement.

Start with a million dollars and earn 10% a year is a hell of a plan, I love it.

How else do you think people become wealthy? By not saving anything and just waking up one day with millions? $1M is achievable for almost anyone who starts saving and investing early and sticks with it.

Start at age 20 with $1K, earn 10% for 10 years, adding $1K/month, and you end up at age 30 with nearly $200K. 10 more years, you'll have $710K. In 5 more years you'd be 45, and would have $1.2M. 30 years later, when you're you'd be 75, and would have $23M.

Begin with a higher starting balance from summer or part-time employment, or save more each month, and your ending balance will be even larger.

Only a lack of vision, along with discipline, is stopping you.

Lack of vision but also market volatility, inflation, and math.

Time takes care of market volatility, inflation, and the math. You can and should adjust your contributions to your investments upwards as your income grows with inflation. Volatility is of no concern if you have a long-term investment horizon and/or don't need to take much from your portfolio.

https://www.nerdwallet.com/investing/learn/average-stock-market-return

Who can save $1k a month as a 20 year old? Many people have student debt and savings for buying a home taking priority.

My nephew is saving more than that (he's 23, not 20, but was doing that straight out of college). He went to a school that gave him a free ride, so no student loan debt. Just car payments. Makes 180K, but also works 80-100 hours a week.

As someone who is also young and makes a ton of money, I can assure you this situation isn’t the norm and your nephew is very much the exception.

Undoubtedly. His brother is going the same route, although he'll be in a totally different field, opting to go to the school giving him the free ride, and maximizing his opportunities there. Similar with two nieces. One of them turned down Johns Hopkins for her state school that gave her a free ride, and used the money her parents saved for her education to go to med school. She'll be graduating debt free.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can become quite wealthy without a very high income if you spend a lot less than you do earn and consistently and sensibly invest the excess over a long period of time. The time value of money is very powerful. As Einstein said, compound interest is the 8th wonder of the world.

Save $1M, add $1K/month for 40 years, earn an average of 10% annually (the historical long-term return of the stock market) and end up with $50.5M.

40 years is a long time, so patience, focus, and discipline is required, as is the initiative to accumulate that initial $1M. But it can result in a very comfortable, financially secure retirement.

Start with a million dollars and earn 10% a year is a hell of a plan, I love it.

How else do you think people become wealthy? By not saving anything and just waking up one day with millions? $1M is achievable for almost anyone who starts saving and investing early and sticks with it.

Start at age 20 with $1K, earn 10% for 10 years, adding $1K/month, and you end up at age 30 with nearly $200K. 10 more years, you'll have $710K. In 5 more years you'd be 45, and would have $1.2M. 30 years later, when you're you'd be 75, and would have $23M.

Begin with a higher starting balance from summer or part-time employment, or save more each month, and your ending balance will be even larger.

Only a lack of vision, along with discipline, is stopping you.

Lack of vision but also market volatility, inflation, and math.

Time takes care of market volatility, inflation, and the math. You can and should adjust your contributions to your investments upwards as your income grows with inflation. Volatility is of no concern if you have a long-term investment horizon and/or don't need to take much from your portfolio.

https://www.nerdwallet.com/investing/learn/average-stock-market-return

Who can save $1k a month as a 20 year old? Many people have student debt and savings for buying a home taking priority.

I was paying off student loans and had a car loan but I still saved $1,000 a month after maxing my 401(k). Discipline and goals.

What was your income and at what age

25, $68,000