Reply to At what age will you retire and with how much?

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[quote=Anonymous][quote=Anonymous]Hm, so were you in private industry before becoming a Fed?  I’m assuming yes from your numbers.  Thanks for posting in spite of your lack of candor.  [/quote]

Yes, I was in private practice, but only briefly (like 2.5 years total) so my 401K never got that big and my largest bonus was only like $9K (before taxes) back in the early 2000s.  I took a huge pay cut when I entered the government but always maxed out except for a brief period when child care expenses were at their highest.  My spouse came out of graduate school around same age as I did, but in a different field so makes less than me.  The one attractive feature at spouse's company is an 11% match of the 403(b) plan.  We just maxed out all we could and never sold.  First $1M took about 13-15 years (can't quite remember) and then (just held through 2 major recessions, never sold) it compounded to $3.5M today.  None of this is from an inheritance or huge bonus from private sector jobs.

Our two biggest expenses like most people in this area are housing and childcare followed by my significant grad school loans. I finally paid back all of my grad school loans in January 2021, and that was only after our largest child care expenses were behind us.  I was 48 when I bought my first new car.  Spouse has never owned a new one, still drives our 20+ Japanese care to and from the office.  [/quote]

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