Reply to Twentysomethings, how much do you have in savings?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]29
trust fund baby (sorry)
retirement is already funded, homes were bought in cash. [/quote]

36. How much in your trust fund, and how does it pay out? Just curious. Living vicariously.[/quote]

NP. I'm imagining it's quite a bit.  I'm not sure I'll ever be comfortable enough to say my retirement is "already funded" [/quote]

It depends how young you are. If you have $100,000 at 22, you can expect that will turn into about $2M by 65 at a 7% return without any additional contributions. Annuitize that for 6% and you've got a $120,000 annual income for the rest of your life. (That's the simplest way, at least, but you can see that it certainly takes care of the basics).

And that initial $100,000 could be just two or three years of public school vs. private.[/quote]

It's more than $2M now. Plus my husband has his own. I get a percentage of the interest each year, plus I get chunks upon reaching certain milestones (graduating from high school, college, grad school, marriage, turning certain ages, etc.). Fun fact: [b]I get some upon having a baby, but I'd get more if I have a boy instead of a girl. [/b]I was super offended when I found out about that. [/quote]

:shock: [/quote]

Right? I was so offended. And when I ranted it about it to my father he was so blasé about it, like "This was put in place generations ago, when women didn't go to college, didn't support the families, it's not as offensive as your feminist mind is making it out to be."  We have two girls. I was really tempted to put them, as newborns, in traditional boy-colored onesies and claim they were boys, and then donate the extra money to some female-centric non-profit. [/quote]

Your righteous indignation is oh-so inspiring.[/quote]

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