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Reply to "What is your net worth if you are 55 years of age"
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[quote=Anonymous][quote=Anonymous]I had been feeling good about our numbers, now, after reading all this, not so much. 56 and 61, $1.3 million in retirement accounts, both still contributing the max annually. HHI had been about $250, went up to $350 recently. $475k in stocks/mutual funds. One about to start college, with the merit she received, plus the $$ in 529, that is covered. 2nd still in HS, assuming private college with no aid, we will use 529 and either cash flow or some from the $475k to cover that. House, conservatively guessing, is worth about $980k, we owe $150k which will be paid off when our youngest is a senior in college. Plan to retire when 2nd is done with college, assuming the younger of us can figure out reasonable health care.[/quote] PP, you are doing fine with those assets....paying off your mortgage will significantly reduce your monthly expenditures. The Affordable Care Act fixes that the Dems are (hopefully) about to put in place in their COVID response bill should be a big help for your health care costs when the time comes. [/quote]
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