What is your net worth if you are 55 years of age

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We retired in our 40s. Since we still had youngish kids, I (the mom), seemlessly blended in with the SAHMs. No one bats an eye. I fill my time with tons of volunteering (even virtually and locally in my community), doing things for my kids and hobbies for myself. I read. I take courses.

A small part of me misses work but that part is very small.

I'm with you, sister. I don't miss work one iota.

In my 30s following this thread -- this is my plan, or at least would like this option, for 40s! What was your net worth when you pulled the trigger?

I can't remember exactly, but I'm gonna say about $4 million. Maybe a little bit more. I was 52. Kids were already out of college and fully launched, and I had continued access to my employer's group health insurance plan (provided I pay the full premium, obviously), so I felt pretty good.

I’m the italicized poster. We had about $8,000,000 when one of us retired. We had $20,000,000 when the other one retired (due to a large inheritance). Health insurance is brutal (almost $6,000 a month) for a PPO for the four of us.

I'm the one who retired at 52. $6000 for a PPO is a lot. We're paying $1300 for the two of us. But you can afford it!

There is a single (1) place to get a PPO in VA if you can’t get it from employment. It’s from Carefirst. They offer a gold or a silver plan. We have the cheaper silver plan. There are zero other PPO options. We could go with a cheaper hmo but I don’t want to do that and figure why should I change my doctors when I have the money not to? The downside to retiring early is that insurance, for us, is extremely expensive. To be fair, it’s around $5,600. Not quite $6,000.

[Anonymous]

Anonymous wrote:NP. My sister thought she would work into her 60s - she did and passed at 67. Many such cases among family and friends. Also I see a lot of my patients deteriorate in health (some of you will recognize my posts) in their 60s. It's sudden. No dog in this fight. But think twice before making any decision and don't count on continued good health even if you are hale and hearty in your 40s or 50s.

So retire early to enjoy life - or work longer for health insurance needs

[Anonymous]

Anonymous wrote:

Anonymous wrote:NP. My sister thought she would work into her 60s - she did and passed at 67. Many such cases among family and friends. Also I see a lot of my patients deteriorate in health (some of you will recognize my posts) in their 60s. It's sudden. No dog in this fight. But think twice before making any decision and don't count on continued good health even if you are hale and hearty in your 40s or 50s.

Your point being what? Don't work any longer than you have to?

I am wondering the same thing. There is no one size fits all here. It seems everyone is giving advice solely based on their own lens. To be expected, yes, but most stating as if it is fact across the board.

[Anonymous]

Wow. A lot of you folks have a lot of $ saved up. I've been saving for a new roof for about 5 years. Not there yet. Age 52.

[Anonymous]

Anonymous wrote:Wow. A lot of you folks have a lot of $ saved up. I've been saving for a new roof for about 5 years. Not there yet. Age 52.

Don’t feel bad, this forum lives in a bubble.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:NP. My sister thought she would work into her 60s - she did and passed at 67. Many such cases among family and friends. Also I see a lot of my patients deteriorate in health (some of you will recognize my posts) in their 60s. It's sudden. No dog in this fight. But think twice before making any decision and don't count on continued good health even if you are hale and hearty in your 40s or 50s.

Your point being what? Don't work any longer than you have to?

I am wondering the same thing. There is no one size fits all here. It seems everyone is giving advice solely based on their own lens. To be expected, yes, but most stating as if it is fact across the board.

NP. The PP was sharing his experience, not directing you to stop working at a certain age. Why getting all prickly?? Chill, dudes..

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:NP. My sister thought she would work into her 60s - she did and passed at 67. Many such cases among family and friends. Also I see a lot of my patients deteriorate in health (some of you will recognize my posts) in their 60s. It's sudden. No dog in this fight. But think twice before making any decision and don't count on continued good health even if you are hale and hearty in your 40s or 50s.

Your point being what? Don't work any longer than you have to?

I am wondering the same thing. There is no one size fits all here. It seems everyone is giving advice solely based on their own lens. To be expected, yes, but most stating as if it is fact across the board.

NP. The PP was sharing his experience, not directing you to stop working at a certain age. Why getting all prickly?? Chill, dudes..

Seriously...if you don’t what they are saying, you never will. Many people are fixated with a random number, that they think they will need so they can retire, they chase that number and retire years later than they could have and then die early into retirement. Read several posts on DCUM and a couple even on this thread where someone said yeah we did the numbers and they look good or this expert told us we can but, we don’t think so. Keep working if you enjoy working and don’t have stress or have stress due to work but still want to. Just don’t lie to yourselves (or do if that is what you do .

I never get up in arms against someone giving advice where it is not benefiting them, their wisdom could help me. I appreciate that they took the time to give it. Sometimes the manner may be a little brusque but then again DCUM takes umbrage to parents giving advice (I have been on and off here for a decade).

[Anonymous]

Anonymous wrote:52 years old.
Started working again after SAHM 9 years ago where I had $0.
After divorce settlement, real estate is worth about 1M (I really had to fight for this).
Pension/401 122K.
529s for 2 kids 83K.
Cash 21K.

No mortgage, no debt.
I let him keep all the jewelry and art.

Do you regret getting divorced? I'm about to get divorced @ 53 with two teens. DH blew $330k trading. He has nothing and I don't have much at all.

[Anonymous]

Are there a lot of people reading but not posting because they're as psyched out by these numbers as I am?

53 years old with husband in 60s and total net worth including 529s and everything else is only $1.4M. We'll have one tiny pension bringing in $20K annually and whatever the top rate is for SS. I never realized how poor we were until I read this.

[Anonymous]

Anonymous wrote:Are there a lot of people reading but not posting because they're as psyched out by these numbers as I am?

53 years old with husband in 60s and total net worth including 529s and everything else is only $1.4M. We'll have one tiny pension bringing in $20K annually and whatever the top rate is for SS. I never realized how poor we were until I read this.

Lol. Poor! 1.4M

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We retired in our 40s. Since we still had youngish kids, I (the mom), seemlessly blended in with the SAHMs. No one bats an eye. I fill my time with tons of volunteering (even virtually and locally in my community), doing things for my kids and hobbies for myself. I read. I take courses.

A small part of me misses work but that part is very small.

I'm with you, sister. I don't miss work one iota.

In my 30s following this thread -- this is my plan, or at least would like this option, for 40s! What was your net worth when you pulled the trigger?

I can't remember exactly, but I'm gonna say about $4 million. Maybe a little bit more. I was 52. Kids were already out of college and fully launched, and I had continued access to my employer's group health insurance plan (provided I pay the full premium, obviously), so I felt pretty good.

I’m the italicized poster. We had about $8,000,000 when one of us retired. We had $20,000,000 when the other one retired (due to a large inheritance). Health insurance is brutal (almost $6,000 a month) for a PPO for the four of us.

I'm the one who retired at 52. $6000 for a PPO is a lot. We're paying $1300 for the two of us. But you can afford it!

There is a single (1) place to get a PPO in VA if you can’t get it from employment. It’s from Carefirst. They offer a gold or a silver plan. We have the cheaper silver plan. There are zero other PPO options. We could go with a cheaper hmo but I don’t want to do that and figure why should I change my doctors when I have the money not to? The downside to retiring early is that insurance, for us, is extremely expensive. To be fair, it’s around $5,600. Not quite $6,000.

It goes up substantially as you age. My SIL/BIL were paying over $30k a few years ago for that same silver plan in Richmond. They are now old enough, thankfully, for Medicare.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We retired in our 40s. Since we still had youngish kids, I (the mom), seemlessly blended in with the SAHMs. No one bats an eye. I fill my time with tons of volunteering (even virtually and locally in my community), doing things for my kids and hobbies for myself. I read. I take courses.

A small part of me misses work but that part is very small.

I'm with you, sister. I don't miss work one iota.

In my 30s following this thread -- this is my plan, or at least would like this option, for 40s! What was your net worth when you pulled the trigger?

I can't remember exactly, but I'm gonna say about $4 million. Maybe a little bit more. I was 52. Kids were already out of college and fully launched, and I had continued access to my employer's group health insurance plan (provided I pay the full premium, obviously), so I felt pretty good.

I’m the italicized poster. We had about $8,000,000 when one of us retired. We had $20,000,000 when the other one retired (due to a large inheritance). Health insurance is brutal (almost $6,000 a month) for a PPO for the four of us.

I'm the one who retired at 52. $6000 for a PPO is a lot. We're paying $1300 for the two of us. But you can afford it!

There is a single (1) place to get a PPO in VA if you can’t get it from employment. It’s from Carefirst. They offer a gold or a silver plan. We have the cheaper silver plan. There are zero other PPO options. We could go with a cheaper hmo but I don’t want to do that and figure why should I change my doctors when I have the money not to? The downside to retiring early is that insurance, for us, is extremely expensive. To be fair, it’s around $5,600. Not quite $6,000.

It goes up substantially as you age. My SIL/BIL were paying over $30k a few years ago for that same silver plan in Richmond. They are now old enough, thankfully, for Medicare.

[i]
Yikes!

[Anonymous]

Anonymous wrote:51 and 52 year old. $5.1 million current net worth. Doesn't include $60K/year planned pension.

Same ages, and about $9 million with no pension.

$1.5 M equity House (paid off)
$900K 529s (kids not in HS yet)
$2.75 M Retirement
The rest in Vanguard

Plan to work until kids out of college.

[Anonymous]

both 54, and about $7.2 mil not including the kids' VEST/VPEP...plan to retire end of this year when the last kid leaves for campus

[Anonymous]

10x age is normal goal. Which is 5.5 million net worth at 55.

Which is very impressive in a single income household. But this site is all dual income power coupled so 11 million would be goal