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

[Anonymous]

Anonymous wrote:

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

Umm, one of the rentals is my old 1BR condo I bought out of undergrad. We live in a SFH now. The gift went to down payments on our RE. We are not sellers, we plan on keeping all of our properties for the long term.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:37/39, NW of 22M, 3M HHI and two kids. No inheritance or family support, just roaring tech market. Our spend is about 300k/yr and we donate 250k/yr to charities.

Wow, that’s incredible. What do you guys do for a living?

"roaring tech market"

Yeah we’re in tech too at pretty senior levels but unless you’re a long time employee at NVIDIA or similar you aren’t hitting $20M+ at this age in stock gains. Eg L8 at Google wouldn’t see that appreciation over the time stated / assumed given ages + college grad

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:37/39, NW of 22M, 3M HHI and two kids. No inheritance or family support, just roaring tech market. Our spend is about 300k/yr and we donate 250k/yr to charities.

Wow, that’s incredible. What do you guys do for a living?

"roaring tech market"

Yeah we’re in tech too at pretty senior levels but unless you’re a long time employee at NVIDIA or similar you aren’t hitting $20M+ at this age in stock gains. Eg L8 at Google wouldn’t see that appreciation over the time stated / assumed given ages + college grad

30k/mo invested in Google alone over the last 10 years is $14M according to https://stoculator.com/

Also big tech has been through ups and downs, and if you're lucky to get a large grant in a down period that pays off big. A $3M grant of Meta from a few years ago is worth $20M now.

It's not so crazy that someone who got lucky with their grant dates could make a lot of money.

[Anonymous]

not 1% post.... 40 year olds -- regular working couple, three kids, no family money at all, household income 310k

about 1M Equity in home ( done by capitalizing on the market the past 15 years -- rolling one equity into a bigger house/ buying the ugliest house in a nice neighborhood etc)
about 550k in retirement savings
about 150k in 529s
and 100k of other -- savings/ stocks etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:37/39, NW of 22M, 3M HHI and two kids. No inheritance or family support, just roaring tech market. Our spend is about 300k/yr and we donate 250k/yr to charities.

Wow, that’s incredible. What do you guys do for a living?

"roaring tech market"

Yeah we’re in tech too at pretty senior levels but unless you’re a long time employee at NVIDIA or similar you aren’t hitting $20M+ at this age in stock gains. Eg L8 at Google wouldn’t see that appreciation over the time stated / assumed given ages + college grad

30k/mo invested in Google alone over the last 10 years is $14M according to https://stoculator.com/

Also big tech has been through ups and downs, and if you're lucky to get a large grant in a down period that pays off big. A $3M grant of Meta from a few years ago is worth $20M now.

It's not so crazy that someone who got lucky with their grant dates could make a lot of money.

Yes, that’s crazy…but to get $3M grant from Meta, stay through 100% vesting, and not sell as tranches vested is probably pretty rare. It’s a tough culture and what makes it worthwhile is the lifestyle.

[Anonymous]

40/41. Finance. 2 kids.

$15m NW including house (no mortgage)

No family help.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:37/39, NW of 22M, 3M HHI and two kids. No inheritance or family support, just roaring tech market. Our spend is about 300k/yr and we donate 250k/yr to charities.

Wow, that’s incredible. What do you guys do for a living?

"roaring tech market"

Yeah we’re in tech too at pretty senior levels but unless you’re a long time employee at NVIDIA or similar you aren’t hitting $20M+ at this age in stock gains. Eg L8 at Google wouldn’t see that appreciation over the time stated / assumed given ages + college grad

30k/mo invested in Google alone over the last 10 years is $14M according to https://stoculator.com/

Also big tech has been through ups and downs, and if you're lucky to get a large grant in a down period that pays off big. A $3M grant of Meta from a few years ago is worth $20M now.

It's not so crazy that someone who got lucky with their grant dates could make a lot of money.

Yes, that’s crazy…but to get $3M grant from Meta, stay through 100% vesting, and not sell as tranches vested is probably pretty rare. It’s a tough culture and what makes it worthwhile is the lifestyle.

Yea, usually nobody can time the market right or their corporate participation. ...

[Anonymous]

Anonymous wrote:

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.

This isn’t helpful if you’re also not sharing HHI and if you inherited anything - eg your NW looks way too high for your ages unless you inherited $ or had an earlier liquidity event already

HHI 1.1M

We have been given some money from family maybe around ~200k in the last 5 yrs

Lol when I say my family has given me some money, it's more like $2k, which i do appreciate. Same town, very different worlds.

[Anonymous]

Oh yeah - 39yo - net worth $0 but that is good for me because I finally am debt free! America is wild.

[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.

Millionaire 30year olds are not wealthy??? WTH!! The gap grows wider. Let me guess, you're white or Asian.

[Anonymous]

It’s not that hard to reach a seven figure networth in your 30s. That poster is a high earner, not yet rich (HENRY).

[Anonymous]

Anonymous wrote:It’s not that hard to reach a seven figure networth in your 30s. That poster is a high earner, not yet rich (HENRY).

The question is if 2M NW at 32 is rich. That's top 3%, but others say you need to be 1% with 12M to be "rich".

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s not that hard to reach a seven figure networth in your 30s. That poster is a high earner, not yet rich (HENRY).

The question is if 2M NW at 32 is rich. That's top 3%, but others say you need to be 1% with 12M to be "rich".

Per the other thread I learned that $25M at 45-50 is middle class.