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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][b]10x age is normal goal[/b]. 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 [/quote]

Not sure this is "normal".  Are you suggesting that having $5.5 million at age 55 is a normal expectation? What about a couple, both 55, does the "normal" expectation go to $11 million?  How many 55 y.o. couples do you know that have that kinda money?

I'd personally use the Millionaire Next Door's model for wealth accumulation as a yardstick.  They have 2 categories - Average Accumulator of Wealth (AAW) and Prodigious accumulator of wealth (PAW).  An AAW's net worth is Age*salary/10.  For a PAW it would be AAW*2.  Don't recall how they treat the spouse's income but I'd go with using the age for the oldest spouse in these calculations.
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So for a couple earning $200k where the older spouse is 55 that would be $1.1 million using the AAW calculator [/quote]

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