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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I hope the younger folks are reading this thread! There is a lot of wisdom here.[/quote]

I'm reading.

I'm 44 and a single woman.

It surprises me that a couple in their 50s would have a total net worth of 3m with 2m of that in retirement.

I will have 2m in retirement BY MYSELF at their age (to me, for two people, they don't have a lot). If had stayed married, it would have been much, much more than double that. I worked my entire marriage but he made more income wise. I had more in retirement when we met and he had a professional degree and I did not.

I think younger people are smarter about retirement and building assets than people 55 plus. [/quote] Wages were smaller and the retirement savings vehicles came to pass after they started working.  When I started working  in 1987, I earned $19k.  I could put money into an IRA but no Roth and no 401k.  You must make a decent salary.  [/quote]Oh, and interest  rates for cars and houses was close to 10%. [/quote]

I am the 44-year-old PP. I did not own a car until I was 26. I started saving for retirement at 21. [/quote]

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