Net Worth of 2.4M 41 years old and feel poor

[Anonymous]

The reason you feel poor is because you probably save a lot. Your net worth seems high comparing to your salaries. Maybe get a real life and spend some and you will not feel so miserable.

I think it is really hypocritical to brag about how poor you feel when you have much more than a lot other families.

[Anonymous]

How exactly did you manage to save 1.6M in retirement account with your HHI?

[Anonymous]

Anonymous wrote:How exactly did you manage to save 1.6M in retirement account with your HHI?

Maxed out retirement accounts since we graduated from college. We also contributed to IRAs since college graduation. We also fund college savings each year. Our household income is net of these.

[Anonymous]

OP, you 'suffer' from a lack of leverage.

Your house is paid off. You could take that $500K, put it on a bigger nicer house - say $1M (if that is what you want), and still have a modest mortgage of say $2500 per month which would be extremely manageable, and with deduction, it would be less than that.

If you take pride in savings and paying things off, you will always have less 'stuff' to show for it but you have traded peace of mind for those other things.

I agree with the 'spend a little' sentiment above. Go on a vacation or buy a new car. To me, savings is like being on a strict diet, you need to have an Oreo once in a while to make sure you know what you are missing.

[Anonymous]

I don't see how these posts that encourage op to spend a chunk of his money address his concern. It is telling how much our society has changed. Go spend your money is the cure that I see recommended on posts everywhere.

Op you are fine. Your discomfort is that you chose to live responsibly and many of the people around you do not save like you do.

The comments from the posters questioning how you saved this money just leave me shaking my damn head.

[Anonymous]

Get the fuck over yourself, OP. Go visit some real poor people, find a hobby, take up a cause - but stop your lame-ass humblebragging here because it is beyond pathetic.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How exactly did you manage to save 1.6M in retirement account with your HHI?

Maxed out retirement accounts since we graduated from college. We also contributed to IRAs since college graduation. We also fund college savings each year. Our household income is net of these.

Another thing is that we graduated with no debt. We both went to state schools for undergrad. For graduate school, we both worked at companies that paid for them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How exactly did you manage to save 1.6M in retirement account with your HHI?

Maxed out retirement accounts since we graduated from college. We also contributed to IRAs since college graduation. We also fund college savings each year. Our household income is net of these.

Another thing is that we graduated with no debt. We both went to state schools for undergrad. For graduate school, we both worked at companies that paid for them.

Good for you, pat on the back, gold sticker. WTF are you looking for here if not for validation? LAME.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How exactly did you manage to save 1.6M in retirement account with your HHI?

Maxed out retirement accounts since we graduated from college. We also contributed to IRAs since college graduation. We also fund college savings each year. Our household income is net of these.

Another thing is that we graduated with no debt. We both went to state schools for undergrad. For graduate school, we both worked at companies that paid for them.

If your income is net of that, then you make way more than what you said. We make $250/year (gross!) and "only" have about 1.2 million net worth and are older.

[Anonymous]

PP you need therapy. OP's feelings are valid and as someone who saves money I understand the point of view.

The ire directed at op combined with the posts encouraging op to spend money are unbelievable.

[Anonymous]

Anonymous wrote:Ok - I'm sure I'll get a lot of grief. We just paid off our house. We have no debt and have 2.4M net worth. We have 1.6 M retirement, 500k. house equity, 200k college savings, 100k cash. I know we aren't poor but it seems like our friends are doing so much better. They have nicer homes, take better vacations and don't seem as concerned about money. We make about 235k combined and our salaries are equal. It seems like so many people make 200k each these days.

Please tell me that I live in a bubble.

Well, looking at the numbers you've stated here, you have 100k cash with no debt. (Retirement and college savings you shouldn't touch, and the equity is illiquid.)

Essentially, you have a generous emergency fund. So yes, while you don't have to worry about the next bill, you also can't go on fancy vacations or spending sprees as PPs have suggested. Your living expenses are coming out of current earnings. Be mindful of that fact and you're fine.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How exactly did you manage to save 1.6M in retirement account with your HHI?

Maxed out retirement accounts since we graduated from college. We also contributed to IRAs since college graduation. We also fund college savings each year. Our household income is net of these.

Another thing is that we graduated with no debt. We both went to state schools for undergrad. For graduate school, we both worked at companies that paid for them.

If your income is net of that, then you make way more than what you said. We make $250/year (gross!) and "only" have about 1.2 million net worth and are older.

I'll clarify. We save first and live on the remaining. We gross 235k per year.

[Anonymous]

We are similar- big bank account, but you never knows what could happen. We live a nice lifestyle but forgo a bigger house, newer cars, etc. so we have peace of mind. At this point, I could care less about spending more $- I think it's crazy to blow through money.

[Anonymous]

Anonymous wrote:Ok - I'm sure I'll get a lot of grief. We just paid off our house. We have no debt and have 2.4M net worth. We have 1.6 M retirement, 500k. house equity, 200k college savings, 100k cash. I know we aren't poor but it seems like our friends are doing so much better. They have nicer homes, take better vacations and don't seem as concerned about money. We make about 235k combined and our salaries are equal. It seems like so many people make 200k each these days.

Please tell me that I live in a bubble.

Shut your face.

[Anonymous]

Anonymous wrote:PP you need therapy. OP's feelings are valid and as someone who saves money I understand the point of view.

The ire directed at op combined with the posts encouraging op to spend money are unbelievable.

I don't need therapy. I am sick of people who are more well off than 99% of the world coming here to ask for free therapy for their (unwarranted) anxiety. I find it hilarious that you are telling me to get therapy for pointing out that OP has a complete and total lack of perspective. Excuse me for saying the truth.