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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Hey op, you surprised  to see the predictable bs replies ?[/quote]The only BS replies are ones like yours. Others are actually replying to the OP's question. [b]20M here, OP. No inheritance or high income[/b]. A lifetime of investment, that's all.[/quote]

These are what shock me the most.

I can buy that certain careers lead to $20M by say, 50 ($5-10M HHI a year = hedge fund, private equity).

I get that certain careers lead to $8-10M by 50 ($2-3M HHI = very successful in BigLaw, consulting, executives at large companies, maybe FAANG SWE).

But what surprises me is when people are not high income, didn't have an inheritance and get to $20M. Even someone making $2-3M (like the big law lawyer) is still going to struggle to get to that $20M figure. What exactly are you investing in?![/quote]

The TSP C fund. I have $3.9 million in there after 30 years of putting 80% of my pretax contributions in there.[/quote]

Ouch. Good luck with those RMDs.[/quote]

Converting a bit at a time even before I hit 73. Roths weren't available when I started at the federal government in 1991 so not much more I can do.[/quote]

That's good but you'll definitely be triggering much higher Medicare IRMAA premiums as you perform your Roth conversions. Medicare does a two year look back on your Modified Adjusted Gross Income to determine your Medicare premiums. With $3.9M in regular TSP, I'm guessing it will probably be impossible to convert all of that $3.9M without going into the higher income tax brackets (32%,35%, 37%) even if you spread out the conversions until you are 73. And that's assuming the income tax brackets rates are not raised at some point in the future. The remaining funds in your TSP will keep growing at a long-term rate of 8-10% even as you do the conversions. It's a "good" problem to have but those RMDs will be significant. Use AI to do some projections assuming various growth rates. You will be surprised at the results. One move you can make to save some tax $ is to move to a state with no state income taxes.[/quote]

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