Reply to Is saving/investing actually a crappy way to get rich?

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[quote=Anonymous]I'm 50 and my husband and I have a net worth of $3M and he can retire in 5 years with a government pension. I think we have managed to get pretty rich saving/investing, since we have:
-- a house (owned outright) worth $1M because we bought a small/old starter home, never traded up, refinanced from 7% all the way down to 2.75% as rates went down, made improvements out of our income, and took advantage of appreciation
--a 401(k) worth $1M earned through contributions that I increased from probably $500 or $1000 a year when I started working to the maximum in the last 5-10 years (as kids got older), which have grown
--my spouse's 401(k), which has grown to $1M the same way
--no school debt (law and business school) since we aggressively paid both off in 10 years by not overcommitting to housing costs

He can retire while I still work since we paid off the house, he can collect his pension at 62, we can start 401(k) withdrawals at 65, and wait to 70 to collect SS. We will be pulling down something like $200K a year just in pension, SS, and minimum required withdrawals. Seems like plenty for 2 people.  [/quote]

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