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Reply to "Once you become a multi millionaire in early 30’s feels pointless to save "
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[quote=Anonymous][quote=Anonymous]Through a combination of inheritance and saving from our 150k+250k jobs we hit $2.8M investable assets in our early 30’s. Inherited about $1M several years ago from a relative who passed away and put in VOO, now it’s doubled. We just realized that even if we live very frugally and save $10k a month, the difference in 30 years between saving this much and nothing is $50 million vs $68 million based on 10% average return in S&P 500 (which I very much realize is not guaranteed and stocks go up and down). So why should we even save at this point? Fully intending to work till our 60’s since we enjoy our careers. Might as well enjoy our paychecks to the fullest and let the $2.8 mil compound with no further contributions.[/quote] Absent a very clear cut post nup agreement the non inheriting spouse should be very cautious of relying on any portion of the $1 million inheritance and any related gains to fund their retirement.[/quote]
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