Reply to Net worth over $20 million

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It maybe feels low to you because I am sure the distribution is very clustered.

I bet 90% of those people live in only like 10 metro markets in the US.

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Statewise, it would be Florida, New York and California.[/quote]

Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.

However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.

DC is also the #5 metro area for F500 HQs.  You have Capital One, Hilton, Marriott, Choice, Boeing, etc.  20 HQs in total.[/quote]

Bullshit.  Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.  [/quote]

Dude...you are a bit unhinged...you do realize you don't go from $0 to $3MM per year right?  You are earning many hundreds of thousands and maybe over a $1MM for years even before making equity partner, and investing a bunch of that.[/quote]

That isn’t right.  Say you make equity partner in 10 years.  You are making $500,000 or less the first five. And probably less than a million for all of it.  Most have law school debt and even if they don’t, are saving for a down payment and paying for day care and schools[/quote]

I believe you.  I personally know 2 law partner ladies in NYC and they aren't rolling in dough.  They also have to have husbands who are either SAHDs or have low commitment jobs, so they are really single income earners.  Plus, from what I understand to be an equity partner you have to invest your own money too? [/quote]

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