If you have a net worth of 1.4 million at 44

[Anonymous]

At 43, that’s my net worth. 1M in investments and 4 hundred K in home equity. I use Fidelity’s planning software and have considered using the robo-advisor but am still DIYing. They do have advisors that will meet with you but in my experience that sell annuities. They have great educational resources on their website that will enable you to choose your own funds.

[Anonymous]

44/45 here with about 1.2M in 401ks, plus a 1.4M house that is half paid off. Two young kids with 100k each in 529s. No debt.

We thought we were doing good!

[Anonymous]

Anonymous wrote:44/45 here with about 1.2M in 401ks, plus a 1.4M house that is half paid off. Two young kids with 100k each in 529s. No debt.

We thought we were doing good!

It’s fine if you plan to retire early or earn significantly less than you earn now.

We have a lot more saved and live in a less expensive house but want to retire early or majorly downshift.

[Anonymous]

Anonymous wrote:Dude people are so mean. I have a financial advisor and probably about the same net worth as you (I have a business so value is debatable). I like having a financial advisor so I don't have to worry about my strategy, they do. I also watch my Dad, repeatedly, lose his shirt in the stock market. So I had no interest is DIYing it.

Clark Kendall has built a very nice business with folks who share your net worth.

[Anonymous]

Anonymous wrote:

Anonymous wrote:44/45 here with about 1.2M in 401ks, plus a 1.4M house that is half paid off. Two young kids with 100k each in 529s. No debt.

We thought we were doing good!

It’s fine if you plan to retire early or earn significantly less than you earn now.

We have a lot more saved and live in a less expensive house but want to retire early or majorly downshift.

WTH in 10 years that’ll be 3 million in retirement and they’ll be 55. You can downshift on that and it’ll be 6 million by 65. Years you people are so out of touch

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:44/45 here with about 1.2M in 401ks, plus a 1.4M house that is half paid off. Two young kids with 100k each in 529s. No debt.

We thought we were doing good!

It’s fine if you plan to retire early or earn significantly less than you earn now.

We have a lot more saved and live in a less expensive house but want to retire early or majorly downshift.

WTH in 10 years that’ll be 3 million in retirement and they’ll be 55. You can downshift on that and it’ll be 6 million by 65. Years you people are so out of touch

Haha retire on $3m? No way.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:44/45 here with about 1.2M in 401ks, plus a 1.4M house that is half paid off. Two young kids with 100k each in 529s. No debt.

We thought we were doing good!

It’s fine if you plan to retire early or earn significantly less than you earn now.

We have a lot more saved and live in a less expensive house but want to retire early or majorly downshift.

WTH in 10 years that’ll be 3 million in retirement and they’ll be 55. You can downshift on that and it’ll be 6 million by 65. Years you people are so out of touch

Haha retire on $3m? No way.

Yes most can do it on far less. Good pt

[Anonymous]

Anonymous wrote:What type of financial advisor should you get? Is this enough for a wealth manager? Goals include paying for college and being comfy in retirement.

https://www.napfa.org/financial-planning/what-is-fee-only-advising

[Anonymous]

goal is to retire with $10,000,000 and withdrawal approximately 1.50% per year. I have no debt, including my house, and I can have fun the rest of my life and bang the school faculty lady that moonlights as a whore, in Houston. 🕳️

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, most of the people replying to you don't have the type of money they claim to have.

We use Charles Schwab and have access to a financial advisor that we check in with quarterly. She's a CFP and gives us great advice.

can you elaborate on this option?

If you go to their website, you'll see all the options they have. We have Intelligent Portfolio Premium - about half of our accounts are invested in their roboadvisor and the other half we do on our own (and our 529s are through the state, so not under Schwab at all), but you can enter all your info into their retirement planning software and the advisor will work with you to refine it and make adjustments at every meeting. Ours also provided advice on the 529s and the implications of things like buying a $900K house vs a $1.1 Million house, etc.

Real question is how much are you paying for this service?

Not PP but a NP who also uses Intelligent Portfolio with Schwab. It's very easy and I have grown my money a lot over the 2 years I've used it. It's free to use but there's a catch! They keep about 8% of my money in cash, which they then loan out and make interest on. But when it's grown by 15% in those two years, I don't really mind.

[Anonymous]

I found much more use in a tax advisor.

[Anonymous]

Anonymous wrote:We make $300K/year now. Right now we have $1.2m saved not counting our house (or the kids' 529s) and my husband hopes to have $2m when we retire. He says that would give us $100,000 a year in interest to live on, plus his pension. I don't know what a good target amount really is - but our house will be paid off in 3 years (I'm 42). Our house is worth appx. $900K rn.

Anyway - I am not using a financial advisor [yet]. I am not opposed to it but I am trying to read what I can for free first. I recently read I will teach you to be rich by Ramit Sethi.

Why would you even mention your kids 529? That is a gift you gave them. To even mention it when discussing your NW is crazy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We make $300K/year now. Right now we have $1.2m saved not counting our house (or the kids' 529s) and my husband hopes to have $2m when we retire. He says that would give us $100,000 a year in interest to live on, plus his pension. I don't know what a good target amount really is - but our house will be paid off in 3 years (I'm 42). Our house is worth appx. $900K rn.

Anyway - I am not using a financial advisor [yet]. I am not opposed to it but I am trying to read what I can for free first. I recently read I will teach you to be rich by Ramit Sethi.

Why would you even mention your kids 529? That is a gift you gave them. To even mention it when discussing your NW is crazy.

You’re nuts. If she hadn’t mentioned them, you probably would have asked how she can be so irresponsible as to not save for her kids’ college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We make $300K/year now. Right now we have $1.2m saved not counting our house (or the kids' 529s) and my husband hopes to have $2m when we retire. He says that would give us $100,000 a year in interest to live on, plus his pension. I don't know what a good target amount really is - but our house will be paid off in 3 years (I'm 42). Our house is worth appx. $900K rn.

Anyway - I am not using a financial advisor [yet]. I am not opposed to it but I am trying to read what I can for free first. I recently read I will teach you to be rich by Ramit Sethi.

Why would you even mention your kids 529? That is a gift you gave them. To even mention it when discussing your NW is crazy.

You’re nuts. If she hadn’t mentioned them, you probably would have asked how she can be so irresponsible as to not save for her kids’ college.

She said "Not counting", as if there is a scenario where it's OK to count the 529 towards your NW

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We make $300K/year now. Right now we have $1.2m saved not counting our house (or the kids' 529s) and my husband hopes to have $2m when we retire. He says that would give us $100,000 a year in interest to live on, plus his pension. I don't know what a good target amount really is - but our house will be paid off in 3 years (I'm 42). Our house is worth appx. $900K rn.

Anyway - I am not using a financial advisor [yet]. I am not opposed to it but I am trying to read what I can for free first. I recently read I will teach you to be rich by Ramit Sethi.

Why would you even mention your kids 529? That is a gift you gave them. To even mention it when discussing your NW is crazy.

You’re nuts. If she hadn’t mentioned them, you probably would have asked how she can be so irresponsible as to not save for her kids’ college.

She said "Not counting", as if there is a scenario where it's OK to count the 529 towards your NW

NP here and you really need to get a life