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

[Anonymous]

Anonymous wrote:

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?

I’m guessing the prior poster was at the America First conference today and got their facts mixed up.

[Anonymous]

Anonymous wrote:Yes..actually easy to do if you are diligent.

and have a large enough salary

[Anonymous]

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?

No. Single income family.

[Anonymous]

No not at all.

[Anonymous]

better original post would be to ask for anecdotal and draw conclusions from that. I’m single, retired, mid-60s and have about $2M in income property equity plus $500 in IRA (and dropping). That is only meaningful if you know my burn rate.

[Anonymous]

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

?

No it is not normal. Do some make that kind of money? Yes. It is also an anonymous board. People lie.

[Anonymous]

Anonymous wrote:

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.

+1
I'm planning a lot of travel. It's gonna be expensive.

[Anonymous]

Anonymous wrote:Yes..actually easy to do if you are diligent.

Lol no it isn’t. OP, don’t let all the anonymous liars skew your view.

[Anonymous]

Once we get married, my fiance and I will have a combined 30 million. 50k from me and the rest from him. He is 55 and I am 27.

[Anonymous]

Anonymous wrote:What is the average net worth of people in the DC area?

Of course it's not normal, JFC

[Anonymous]

Anonymous wrote:Once we get married, my fiance and I will have a combined 30 million. 50k from me and the rest from him. He is 55 and I am 27.

hahaha

[Anonymous]

No

[Anonymous]

Gimme a break

[Anonymous]

No.

[Anonymous]

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.

If I had stayed married (to a fed) we would have had 10 mil at retirement. But I had been saving since age 21 and we both maxed. That is not normal. I will have about 3-4 mil alone. Better than staying married. But I know we were an anomaly. It was only because of being an early saver and maxing out. Otherwise, just no way.