Reply to Do many households here have $15 M net worth or more?

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[quote=Anonymous][quote=Anonymous]You can become quite wealthy without a very high income if you spend a lot less than you do earn and consistently and sensibly invest the excess over a long period of time.  The time value of money is very powerful.  As Einstein said, compound interest is the 8th wonder of the world.

Save $1M, add $1K/month for 40 years, earn an average of 10% annually (the historical long-term return of the stock market) and end up with $50.5M.

40 years is a long time, so patience, focus, and discipline is required, as is the initiative to accumulate that initial $1M.  But it can result in a very comfortable, financially secure retirement.

[/quote]

Other than a single year late in life we've not had annual income approaching 7 figures. Making $350-$400HHI for decades and investing consistently pays off.

At 25, I got out of grad school and had a negative net worth. At 38, my joint NW with my husband reached $1 million. 6 more years until $2 million 4 more years after that for $3 million total NW.  If you're lucky enough not to need to liquidate investments in a long bull market, that can happen.[/quote]

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