Is it normal around here to have 10 mil in assets by the time you retire?

[Anonymous]

No. We make 150k a year.

[Anonymous]

No

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you can save $100k a year for 30 years and it generates an 8% return what does that give you? Does that do it? Who’s good with a calculator? For most people to get to $10m requires saving a lot early on and benefiting from compounding. Or inherit a fortune or marry well!

Who TF can save 100k per year???

Uhm, we save ~$800k/yr and live near Woodridge. Just because you can’t doesn’t mean others can’t..

[Anonymous]

We were around $13M in net worth when Biden took office and have seen our investments lose over a million since then.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Retired Fed. My magic number was $3 million. I made it and retired before age 60.

3M per spouse? So 6M?

Feds don’t have 6m combined with spouse. No.

We are at 7.2M and one of us was a fed and another one not.

Yes and Wayne Gretzky and his brother Brent hold the NHL record for most combined points by two brothers - 2,857 for Wayne and 4 for Brent.

[Anonymous]

DH and I already have $53M in net worth and we’re 37 and 39 (Double Big Law).

[Anonymous]

Anonymous wrote:DH and I already have $53M in net worth and we’re 37 and 39 (Double Big Law).

Sorry you don’t have more. Keep at it though, little one. I’ve got about $229M saved and am only 22. Expecting to retire at 23 with $555B.

[Anonymous]

Anonymous wrote:

Anonymous wrote:DH and I already have $53M in net worth and we’re 37 and 39 (Double Big Law).

Sorry you don’t have more. Keep at it though, little one. I’ve got about $229M saved and am only 22. Expecting to retire at 23 with $555B.

Whatevs. DH and I already have $∞M saved.

[Anonymous]

I am single, a business owner with $4mm net worth and feel like it's too early to retire at 44

[Anonymous]

Of course it’s not normal.

[Anonymous]

No, not normal. But not unusual, either.

[Anonymous]

Anonymous wrote:We were around $13M in net worth when Biden took office and have seen our investments lose over a million since then.

So.. your net worth went up by 20% to $15.6 and then you lost $3.6M or are you assuming that Biden took office in Jan 2022?

[Anonymous]

Anonymous wrote:We were around $13M in net worth when Biden took office and have seen our investments lose over a million since then.

Too f—-ing bad! I’ve been an investor for almost 40 years and my returns have been better during Democrat administrations than Republican. And I’ve always voted Republican except Trump. I need to think about that.

[Anonymous]

Anonymous wrote:Very few will ever retire with $10+ in assets. Highly likely it’s less than 1%, maybe .05% or less. Some people make a lot of money, but they also spend a lot of money. If you are living OK on $100k, it would be ideal that your retirement income could replace that.

I for one plan to travel alot more so our retirement might cost double what our current expenses are.

[Anonymous]

Polluter