Tell me your HHI and net worth at age 48

[Anonymous]

This thread makes me feel like we are doing better than we thought.

48, 44
HHI- $2.5 million
Retirement-$1.7 million
Home equity (primary and 2 second homes)-$1 million
Investment properties: $4.5 million
Does not include 7 figure equity in business

[Anonymous]

Anonymous wrote:This thread makes me feel like we are doing better than we thought.

48, 44
HHI- $2.5 million
Retirement-$1.7 million
Home equity (primary and 2 second homes)-$1 million
Investment properties: $4.5 million
Does not include 7 figure equity in business

I ask again: In what possible world could you have possibly thought you *weren't* doing extremely well, with those figures?

How are all these people smart enough to earn and save so much $$ but so out of touch they don't realize that it is so much money?

[Anonymous]

Anonymous wrote:^ and I don't mean to sound like sour grapes. I am sure everyone on this thread has worked enormously hard for all this wealth.

It's just...a very small pool of people who are posting on these sorts of threads. It can be discouraging even for folks who are doing pretty damn well in life - and it also seems, perhaps, not true.

I have no idea who here is exaggerating or lying and who is not. Just that, ya know - this isn't presenting a normal picture of life.

It seems that some posters think that some people on DCUM lie about their net worth. Why would they do that? There are just a lot of wealthy people in this area. We live in the Bethesda/Chevy Chase area, and there are a lot of people with a very comfortable amount of money, for example. I wasn't exposed to this type of money growing up, but I see every day that it exists. I

[Anonymous]

Anonymous wrote:We are 43 and 39, with about $700k saved, not including house. We should have one $60k pension. We were both saving about 10% in ultra conservative funds until I started reading DCUM, where everyone has saved millions by 40 since they have been maxing since their first job at 22. (I started saving at 30.)

DCUM has been hugely eye opening and we’ve been saving much more aggressivey ever since. So this shit can be very helpful and very depressing at the same time.

I'm a PP. Agreed.Reading DCUM, Bogleheads, and the MMM forum has led to us saving a lot more each year. Like, from 6% to 35% of our gross.

[Anonymous]

Anonymous wrote:

Anonymous wrote:^ and I don't mean to sound like sour grapes. I am sure everyone on this thread has worked enormously hard for all this wealth.

It's just...a very small pool of people who are posting on these sorts of threads. It can be discouraging even for folks who are doing pretty damn well in life - and it also seems, perhaps, not true.

I have no idea who here is exaggerating or lying and who is not. Just that, ya know - this isn't presenting a normal picture of life.

It seems that some posters think that some people on DCUM lie about their net worth. Why would they do that? There are just a lot of wealthy people in this area. We live in the Bethesda/Chevy Chase area, and there are a lot of people with a very comfortable amount of money, for example. I wasn't exposed to this type of money growing up, but I see every day that it exists. I

I am the person you are responding to. I don't necessarily think that every person on that thread is lying. But they show a very skewed vision of what sorts of retirements people are looking at, by and large, by this age. So skewed that it looks ridiculous, frankly.

[Anonymous]

Anonymous wrote:I would rather be a poor than in sales. Sales — by definition — means you are dim.

Politicians are essentially salespeople, selling a sh#tty product.

Same as journalists.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My stats. Me 48, Wife 45. Senior Finance Industry Lawyer for a Company not for law firm.

Income now 280k. Most of last decade since credit crisis been in 200k-250k range due to being in finance. Last couple years was 300k though. One income, mine, wife does not work outside of house except occasional real estate deals.

Net worth just shy of 1.75 Million. Well closer to 1.7 after today's market. I am in very risk stocks. Live by the sword die by the sword. Gunslinger.

Retirement Accounts 840,000
Kids UTMA Accounts (not 529) 210,000
Liquid Brokerage and Crypto 25,000
Investment Properties 300,000 equity
Primary Residence 300,000 equity
Gold Coins 30,000
Life Insurance Cash Value 60,000
Cash on Hand: Zero

I know people criticize these threads but this post is a reminder of where a 30 something can be in 10 years.

Whatever you do, ignore previous PP.

Portfolio is simply absurd.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My stats. Me 48, Wife 45. Senior Finance Industry Lawyer for a Company not for law firm.

Income now 280k. Most of last decade since credit crisis been in 200k-250k range due to being in finance. Last couple years was 300k though. One income, mine, wife does not work outside of house except occasional real estate deals.

Net worth just shy of 1.75 Million. Well closer to 1.7 after today's market. I am in very risk stocks. Live by the sword die by the sword. Gunslinger.

Retirement Accounts 840,000
Kids UTMA Accounts (not 529) 210,000
Liquid Brokerage and Crypto 25,000
Investment Properties 300,000 equity
Primary Residence 300,000 equity
Gold Coins 30,000
Life Insurance Cash Value 60,000
Cash on Hand: Zero

I know people criticize these threads but this post is a reminder of where a 30 something can be in 10 years.

Whatever you do, ignore previous PP.

Portfolio is simply absurd.

Wasn't suggesting that gold coins and crypto were going to be what I'd replicate. Just that I'm 10 yrs younger than that PP and these posts just show where it's possible to be at their age.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My stats. Me 48, Wife 45. Senior Finance Industry Lawyer for a Company not for law firm.

Income now 280k. Most of last decade since credit crisis been in 200k-250k range due to being in finance. Last couple years was 300k though. One income, mine, wife does not work outside of house except occasional real estate deals.

Net worth just shy of 1.75 Million. Well closer to 1.7 after today's market. I am in very risk stocks. Live by the sword die by the sword. Gunslinger.

Retirement Accounts 840,000
Kids UTMA Accounts (not 529) 210,000
Liquid Brokerage and Crypto 25,000
Investment Properties 300,000 equity
Primary Residence 300,000 equity
Gold Coins 30,000
Life Insurance Cash Value 60,000
Cash on Hand: Zero

I know people criticize these threads but this post is a reminder of where a 30 something can be in 10 years.

Whatever you do, ignore previous PP.

Portfolio is simply absurd.

I was this guy. Why is it absurd. I gunslinger some. Also, I also feel like one of the others with similar stats that I don’t ha e enough. Three kids. Enough for state school but not three privates for college which would be 900k for three kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are just shy of 2M including home equity (47- hh 210K). Frankly, I find these discussions useful. Sure, there are going to be outliers in both directions, but in general, it helps to know where we're doing well and where we could better.

But in what possible universe could you possibly worry that you weren't doing well if you are "just shy of 2M"? You are smart enough to accrue an amount of money most people will never see in their lifetime - why aren't you smart enough to know that makes you extremely well off?

These threads are just masturbatory for people who have a lot.

pp here- I'll answer- because we could have saved more. We didn't start earning decent money until later, and we lived it up more than we should have because we grew up poor and it was nice to finally have some decent things and be able to a few vacations- so there, not the aggressive savers on this board.

We don't have rich parents, or even middle class parents. We're not inheriting any money whatsoever. Our parents combine their lack of planning with being needy and entitled- which just increases my anxiety about money that they will get sick and lean really hard on us.

My son has special needs, which means a lot money going out each month for therapy that insurance doesn't cover. Companies seem to have a tendency to layoff people once they reach about 54 (read the jobs board on ageism for context), and it's difficult to impossible to find another job that pays half as much at that age if/when it happens. Health catastrophes are financially devastating with our bull crap healthcare system.

1.9M and some change is not as much as you think when you add up uncertainty and the fact that we can only depend on ourselves.

[Anonymous]

Anonymous wrote:I enjoy these threads too. The most interesting post to me ao far was the couple with no kids and net worth in excess of $10 million. They have the same HHI as we do but twice the net worth. We have 2 kids. No one should underestimate the massive cost of raising children. I have a half a doze. friends in their mid-late forties and early 50’s who could retire now, but for the kids.

You're not kidding! All the disposable income goes into kids activities & sports, eating out because we're running around on weeknights going to practices & games. Oldest does a travel sport which means a lot of weekends in hotels. Once that's out of our budget, we're gonna be on easy street!

[Anonymous]

I’m 43, divorced, 2 kids. My income is $135k, plus another $20k in child support (this will drop in half next year when the youngest finishes daycare).

Retirement accounts have about $525k
Home equity of about $250k (I had to buy out my ex so this is low)
~$75k in liquid savings

I will also have a pension of about $60k a year coming if all goes as planned.

[Anonymous]

Anonymous wrote:I’m 43, divorced, 2 kids. My income is $135k, plus another $20k in child support (this will drop in half next year when the youngest finishes daycare).

Retirement accounts have about $525k
Home equity of about $250k (I had to buy out my ex so this is low)
~$75k in liquid savings

I will also have a pension of about $60k a year coming if all goes as planned.

I bet your ex is delighted that you got his retirement account in the divorce. LOL. No way you had $525k on a hundred and change salary.

[Anonymous]

But Im sure you were entitled to it.

[Anonymous]

I am 49

My income (single income and parent) is about $225k
My net worth is $1.3 mil says Mint, which overstates things a bit for me. That includes home equity. My retirement accounts have right about 750k.

Some days I think I am in good financial shape, and then I will go on one of those retirement calculator sites and it tells me I am screwed with these numbers. Then I am not sure what to think. But that’s where I am.