Milestone: Hit seven figures in retirement savings

[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.

Wow. You’ve really spoiled your kids. I guess some kids will never have to earn anything. Hope they appreciate it.

That is not "spoiling kids". That is what UMC+ parents do for their kids if they can. Why have kids if you don't want to provide for them (or at least most of that). At a minimum paying for college, helping with a car upon graduation and setting up their first apartment and post college wardrobe seems reasonable if you are UMC+.

[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.

Well the PP won't have more than paying for Ivy League with only $750K for 2. There won't be much if any left for graduate school.

[Anonymous]

Anonymous wrote:

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.

No, no. Very good -- not well. 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.

We did even better and bought both our kids vacation homes in both Tahoe and Boca. That should help them get on their feet .

That's great! We don't have that kind of money, but, I would like to help them with buying them with primary homes when the economy stabilizes and improves. Maybe another few years?

[Anonymous]

Anonymous wrote:

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.

We did even better and bought both our kids vacation homes in both Tahoe and Boca. That should help them get on their feet .

That's great! We don't have that kind of money, but, I would like to help them with buying them with primary homes when the economy stabilizes and improves. Maybe another few years?

Maybe sooner? ‘26 don’t forget. Your kids will appreciate whatever support you’re able to give. Bet they’d prefer you to be happy, healthy, and secure!

[Anonymous]

Well done! Just keep doing what you are doing. Once you max out your 401K and your income grow set up another account and keep adding to it. Compounding over many years is a great gift.