Reply to Is this a common feeling in your early 40s? Feels like friends are getting rich and we're stagnant

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm making 160k per year in my mid 40s after 20 years as a Federal employee. My net worth is just under 2 million. I earned about 1.3M of that myself, saving and investing in index funds from my Federal salary. I feel like I'm upper middle class, but I still live as if I'm middle class in a 500 sq ft apartment (no spouse or kids). My parents paid for my undergraduate and I paid for my no-name college MBA. I've been getting gifts from my parents of $5k to $10K per year, which I just save in the bank. I'm hoping to buy a 2 BR, 2BA condo for around $400k to $500K as close to Arlington as I can get.

I'm really content with where I'm at and I'm doing the best financially out of most of my friends. I don't think one needs a $2M+ Arlington house to be happy in life.[/quote]

Living in a 500-square-foot apartment with $2M in the bank is miser/hoarder territory.  Even if you buy a 2BR condo for $500K, you still have $1.5M.  If you withdraw 3% per year, that's $45K, which can probably cover all your expenses with no rent - you're financially free now.  I'm single too and planning on doing something similar.  But right now, you're in miser territory in a tiny apartment.  And for what?[/quote]

I’m single living in a 3br townhouse and a 500 sqft apartment sounds like a dream. Minimalist lifestyles can’t be beat [/quote]

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