55+ folks, what's your total net worth?

[Anonymous]

52 and 53.

3.3 million not counting equity in our house

[Anonymous]

Anonymous wrote:We are both in our late 60s, and we retired a few years ago. We had low-paying teacher jobs and are trying to get by on our social security, which isn't a lot, but we have a shortfall each year and have to dip into retirement savings more than I would like.

Our retirement accounts from our teaching are $300,000 combined. I was previously married to a much higher earner and got a portion of his retirement account which is now worth about $600,000 and have an inherited IRA of $100,000. Total $1 million in IRAs but only a third of that through our jobs. We also did well in real estate thanks mostly to my divorce settlement, so we have $900,000 in home equity and no mortgage. Kids are grown and self-supporting. I inherited a portion of two properties from a parent a few years ago; my share of the combined value is $1.4 million.

So our net worth is $3.3 million, almost all of which is thanks to my first marriage and my inherited property. If we had only had our teaching incomes, we never could have bought a house and I don't know how we would be eking out a retirement. I am usually amazed at the net worths reported on DCUM.

Do you get pensions as teachers?

[Anonymous]

We are Immigrants who came to this country with 2 pieces of luggage. We have graduate degrees from outside the US. No student debts ever. We have boring stable jobs.
$3.4M in 401k, $400k in 529 for two kids. $700k house equity. $200k in stocks and mutual funds. We are 52 and 55yo.

We could have saved more but we like to eat out and travel. No regrets.

[Anonymous]

We have a lot. Both retired in our 40s. Wealthy on our own + inherited a lot after we were already wealthy.

[Anonymous]

57 and 61. 1.5 million.
Poor white families, and both were the first in our families to graduate from college.

[Anonymous]

Anonymous wrote:We are both in our late 60s, and we retired a few years ago. We had low-paying teacher jobs and are trying to get by on our social security, which isn't a lot, but we have a shortfall each year and have to dip into retirement savings more than I would like.

Our retirement accounts from our teaching are $300,000 combined. I was previously married to a much higher earner and got a portion of his retirement account which is now worth about $600,000 and have an inherited IRA of $100,000. Total $1 million in IRAs but only a third of that through our jobs. We also did well in real estate thanks mostly to my divorce settlement, so we have $900,000 in home equity and no mortgage. Kids are grown and self-supporting. I inherited a portion of two properties from a parent a few years ago; my share of the combined value is $1.4 million.

So our net worth is $3.3 million, almost all of which is thanks to my first marriage and my inherited property. If we had only had our teaching incomes, we never could have bought a house and I don't know how we would be eking out a retirement. I am usually amazed at the net worths reported on DCUM.

Must be nice. I'm jealous. I'll never inherit or be given a single god damn thing in my life. Ugh.

[Anonymous]

How does one define net worth? Do you include anticipated tax liabilities for stock options/grants, 401K, deferred comp, and and other retirement funds?

If so, our net worth is 10.7M.

If not, net worth is 13M.

I'm 64.

[Anonymous]

Anonymous wrote:How does one define net worth? Do you include anticipated tax liabilities for stock options/grants, 401K, deferred comp, and and other retirement funds?

If so, our net worth is 10.7M.

If not, net worth is 13M.

I'm 64.

However you want. At the end of the day, it has to translate into cashflow to be meaningful. For example, a 1000 bitcoin on a hard drive you've locked away but can't find the key is pointless though it is your asset and should be part of your net worth. The tax impact may be different depending on tax rates, how much you withdraw, etc. Best deal with it as you go vs. factoring it now and over-complicating things.

[Anonymous]

I’d rather not say. Don’t wanna brag.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are both in our late 60s, and we retired a few years ago. We had low-paying teacher jobs and are trying to get by on our social security, which isn't a lot, but we have a shortfall each year and have to dip into retirement savings more than I would like.

Our retirement accounts from our teaching are $300,000 combined. I was previously married to a much higher earner and got a portion of his retirement account which is now worth about $600,000 and have an inherited IRA of $100,000. Total $1 million in IRAs but only a third of that through our jobs. We also did well in real estate thanks mostly to my divorce settlement, so we have $900,000 in home equity and no mortgage. Kids are grown and self-supporting. I inherited a portion of two properties from a parent a few years ago; my share of the combined value is $1.4 million.

So our net worth is $3.3 million, almost all of which is thanks to my first marriage and my inherited property. If we had only had our teaching incomes, we never could have bought a house and I don't know how we would be eking out a retirement. I am usually amazed at the net worths reported on DCUM.

Must be nice. I'm jealous. I'll never inherit or be given a single god damn thing in my life. Ugh.

Why concentrate of what you don't get. I'm an immigrant who came here with literally $100 bill in my pocket. I know it's a cliche.
I could work only minimum wage jobs, couldn't go to school or invest the first 12 year in US. Once I got the permit to do it all, fter several mistakes and try-outs, it took me only 15 years to a million. I never made over $50k and no job ever offered a retirement or even benefits.
I am investing for my kids now which is more wonderful than going on and on how I won't inherit anything.
Investing is available for everyone. Everything you need to know is online. People are still not doing it and I will never know why.
I have learned so much that I can take another $50k and turn it into a million.

[Anonymous]

57 and 65... middle class/maybe upper middle class government jobs with pensions.

65 y.o is already retired. I'm planning to work till 65.

Net worth right now is about 1.5 million, that includes our home equity of about $200,000.

[Anonymous]

56 and 68, retired. Net worth is about 5M.

[Anonymous]

We could've had decent retirement savings but spent about $million and a half on retired parents, charity and children's college education. Now we have to significantly downsize and be even more frugal to survive. Hoping not to live past 80.

[Anonymous]

56

Net worth. 25 million.

Stocks options have been good.

[Anonymous]

51x2…. Around $6.5m. Increased a LOT last year, from stashing about 60% of income in deferred comp, 401Ks etc. trying to save as much as possible to retire with no worries in a few years.