Milestone: Hit seven figures in retirement savings

[Anonymous]

Congrats. You might like the Mr. Money Mustache forum. There are threads to celebrate these, and other, milestones.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Lovely. We reached it at 50. Now at 60, we are at 2M. It is a wonderful feeling.

Not counting our home, jewelry, cars, inheritance or social security.

Done with college for both kids, their weddings, their new cars, seed money for them when they started college, professional wardrobe, set up first apartment. We have a generous pension as well. Won't have to touch our retirement savings.

Oh. Also, I am a SAHM. So, DH and I did very good.

Did very "well" -- not good.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Lovely. We reached it at 50. Now at 60, we are at 2M. It is a wonderful feeling.

Not counting our home, jewelry, cars, inheritance or social security.

Done with college for both kids, their weddings, their new cars, seed money for them when they started college, professional wardrobe, set up first apartment. We have a generous pension as well. Won't have to touch our retirement savings.

OP here. You will eventually have RMDs, though... My kids are young and in school, so I still have more work to do, though I consider their 529 plans close to fully funded ($550k between the two). I am not sure I will have enough to help them outside of college as much as you helped your kids - that was very generous! I hope a fully funded education, a decent car, and maybe a $10k allocation per kid for their wedding is enough. I hope to retire early, so my primary focus for the next 5 years will be to keep saving as much as possible in my brokerage account. The law is a grind.

Don’t put any more in 529. That’s enough for two young kids. I would focus on building your assets so you can retire.

[Anonymous]

We’ve reached $750K in our 529s for our two Ivy League bound twins. Superfunded them when they were born and then continued funding them each year after that initial 5 year period. They’re set and will not graduate with any debt with lots to spare for graduate/law/medical school.

[Anonymous]

Get the book The Power of Zero. You maybe far from a million as uncle Sam is eyeing it already.
My retirement is all in Roth IRA and investment account. I will not have to deal with RMD or paying taxes on SS. I will try to get most of the money into several Roths we have.
It's just easier that way. My returns are also much higher than the market returns.

[Anonymous]

Anonymous wrote:Get the book The Power of Zero. You maybe far from a million as uncle Sam is eyeing it already.
My retirement is all in Roth IRA and investment account. I will not have to deal with RMD or paying taxes on SS. I will try to get most of the money into several Roths we have.
It's just easier that way. My returns are also much higher than the market returns.

Sure they are. I bet you beat the market every year as well.

[Anonymous]

Anonymous wrote:Congrats. You might like the Mr. Money Mustache forum. There are threads to celebrate these, and other, milestones.

Mr. Money Mustache is an interesting blog but That guy lives life ultra-frugally. I want to live large. I prefer the White Coat Investor or Financial Samurai.

[Anonymous]

Mr Money-moustache is a nightmare. So dull.

[Anonymous]

Anonymous wrote:We’ve reached $750K in our 529s for our two Ivy League bound twins. Superfunded them when they were born and then continued funding them each year after that initial 5 year period. They’re set and will not graduate with any debt with lots to spare for graduate/law/medical school.

That's nice. We have 5 children attending boarding school and 1 in St Andrews.

[Anonymous]

Anonymous wrote:Congrats. I did this in my early 20s inside a Roth IRA. Picked the right stock at the right time. Uncle Sam won’t be getting a dime.

No you didn’t.

[Anonymous]

This is such a classic thread. The OP wants pats on the back instead all she gets is competition from a bunch of insecure weirdos.

[Anonymous]

Anonymous wrote:My husband did this in his early 30s. But good for you! You are getting there.

much kore challenging to do as a lawyer, given you are likely 25/26 when you finish law school. And you might have $200K + in law school loans plus some undergrad to pay off. Not unreasonable to think you'd be 40+ before you pay off the loans and hit $1m in retirement

[Anonymous]

Anonymous wrote:

Anonymous wrote:We’ve reached $750K in our 529s for our two Ivy League bound twins. Superfunded them when they were born and then continued funding them each year after that initial 5 year period. They’re set and will not graduate with any debt with lots to spare for graduate/law/medical school.

That's nice. We have 5 children attending boarding school and 1 in St Andrews.

Ty!

[Anonymous]

Anonymous wrote:This is such a classic thread. The OP wants pats on the back instead all she gets is competition from a bunch of insecure weirdos.

Unbelievable

[Anonymous]

Anonymous wrote:This is such a classic thread. The OP wants pats on the back instead all she gets is competition from a bunch of insecure weirdos.

Hey I said “congrats!”