35- 40 year olds - what's your NW?

[Anonymous]

Anonymous wrote:That is amazing to hear all the stories of young folks with so much higher networths than I could have imagined. Are most people in tech ?

We are in Biglaw and consulting. Our friends in government affairs are also making 600k-1m+ by 40, if they've been successful in building a client base.

[Anonymous]

Anonymous wrote:We are 39/40 with NW of around $6.5m: $1.5m in equity in our house. $1.5m in retirement and $3.5m in investments/529s ($1m of that was inherited). HHI of $1.4m (two incomes). Three kids under 5, so we have a long road ahead.

You really are behind. DCUMers making $250K on this board have that amount at your age, which I suppose is why this board is SO helpful.

[Anonymous]

Anonymous wrote:For those that consider themselves wealthier millennials, what is your NW? I am always curious where people are as I do feel like we live in a small bubble

We are 37/35 and around 3.5M (2.8M outside home equity) not including DH's business which "should" be worth 5m+ but I wouldn't count on a liquidity event any time soon.

People lie, like you. Go to a reputable site that gives statistics.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why does this trigger people? Where else can you anonymously ask these questions? It’s healthy to see where peers are at your age.

You should assume many people are lying here, so take it with a grain of salt.

Why would we lie? It's the one place where we can be truthful since it's anonymous. I would never tell people my NW IRL and would just complain about cost of living like everyone else since I'm not socially inept.

Why lie in real life if all of your neighbors just happen to be the same age as you and co-workers already know ballpark figures. You won’t get any useful information when random people answer. This is not the one place where you can be truthful There are plenty of reputable sites that keep exact information on Americans net worth by age, location, everything you claim you want to know

[Anonymous]

Anonymous wrote:

Anonymous wrote:That is amazing to hear all the stories of young folks with so much higher networths than I could have imagined. Are most people in tech ?

We are in Biglaw and consulting. Our friends in government affairs are also making 600k-1m+ by 40, if they've been successful in building a client base.

DH is a big tech lobbyist and the high base salary + appreciating RSUs is a great combo. Best of both worlds.

[Anonymous]

Anonymous wrote:

Anonymous wrote:For those that consider themselves wealthier millennials, what is your NW? I am always curious where people are as I do feel like we live in a small bubble

We are 37/35 and around 3.5M (2.8M outside home equity) not including DH's business which "should" be worth 5m+ but I wouldn't count on a liquidity event any time soon.

People lie, like you. Go to a reputable site that gives statistics.

I just gave you my statistics....I am so confused how unbearably jealous or disillusioned they are that people in their 30s can fairly easily achieve a 1m+ if in the correct fields.

Your mid 30s are the time where people make partner, exit a business, obtain carry, or have large stock grants that have paid off. What do you think the young families in Mclean, CC, Bethesda are doing? School teachers?

[Anonymous]

The numbers being posted seem reasonable for the most part. Why are people insisting that there are liars ?

[Anonymous]

Anonymous wrote:The numbers being posted seem reasonable for the most part. Why are people insisting that there are liars ?

Agree, these are typical numbers for DMV households.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The numbers being posted seem reasonable for the most part. Why are people insisting that there are liars ?

Agree, these are typical numbers for DMV households.

“these are typical numbers for DMV households”…that post on DCUM.

FTFY.

[Anonymous]

Anonymous wrote:

Anonymous wrote:For those that consider themselves wealthier millennials, what is your NW? I am always curious where people are as I do feel like we live in a small bubble

We are 37/35 and around 3.5M (2.8M outside home equity) not including DH's business which "should" be worth 5m+ but I wouldn't count on a liquidity event any time soon.

People lie, like you. Go to a reputable site that gives statistics.

Why do you think the PP is lying? Not that unreasonable for a couple with a HHI of $500-800K+, of which there are many in the DCUM area.

[Anonymous]

Anonymous wrote:$650K HHI, 30/28. Work in data/tech field. NW of $4M with $300K gifted from family and two rental properties about 50% equity in rentals.

You know how I know it's made up, unless you inherited the rentals? Because I am also high NW - $6m at 47. Bought two rentals in DC at 26. Rentals are only profitable if highly leveraged and if improved (if you buy a key ready property all profits/cashflow remains with the seller). Most can't afford to build a good multi-unit even at $650K joint income, and you probably were making about $300k upon graduating colleges. It took me about 10 years to fully pay off the rentals and make them the cash cows.

So if you started buying in early 20s, you would need at least $1m to start a rental business, and it would take you to early-mid 30s to build that 50% equity in the rentals.

Keep writing fairytales here

[Anonymous]

6M at 47 is not high net worth. That’s on track for a typical UMC retirement, but it’s not upper class.

[Anonymous]

Anonymous wrote:6M at 47 is not high net worth. That’s on track for a typical UMC retirement, but it’s not upper class.

We know. Last week we’d were told $25M is middle class on DCUM.

[Anonymous]

Anonymous wrote:

Anonymous wrote:6M at 47 is not high net worth. That’s on track for a typical UMC retirement, but it’s not upper class.

We know. Last week we’d were told $25M is middle class on DCUM.

$6M is a 1% networth for a single person in the US. I know where I am financially and where I am not. I've made this NW in real estate development from zero. The 29 yo claiming they have an equivalent in RE are either lying or inherited it - it simply cannot be built from scratch that fast. It's not QQQ or BKCH or AI stock options

[Anonymous]

Anonymous wrote:We’re a little younger but close enough - 32/34, $1.7M NW, HHI $800K (but just started making this hence the lower NW relative to income). Nothing inherited. No kids yet.

Idk if I’d consider us wealthy millennials though? - we’ve got a lot of friends our age worth $5-10M+ via early exits or strategic investments and that’ll just compound over time. DH’s best friend is at OpenAI and I think his PPUs alone are valued at like $40M for an L5 role now that they’ve removed the PPU cap.

Better for that best friend to diversify into total world index this year.... just saying