Reply to When did you hit $1m in networth?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This is very informative for me, although this is far from a fair statistical study.

I would have guessed that many/most people would cross that threshold in their 50s as their income peaks, they pay off their mortgage and the kids move "off the books."

Instead, it seem like most people who make it to the $1 million level do it in their 30s. If you don't make it, [b]maybe the way to do is to have a steep trajectory r[/b]ather than counting on a slow and steady climb. [/quote]

have a steep trajectory, how?  [/quote]

Have a six figure income in your 20s and either save/invest heavily or rapidly pay off your debts (mortgage). What I'm thinking is that if one of your life goals at age 25 is to achieve a net wealth of $1 million at age 45-50 and start progressing toward that goal, that you have a good chance of not making it because too much can happen during such a long period. But if you structure your life to achieve it in 10 years (age 35), you'll probably have better odds of getting there.

Of course, as others have pointed out, it really helps to finish your advanced degree with little or no debt, to get help buying a house, to get really lucky in your timing of the housing market, enjoy good health in your family or (obviously) have a fat paycheck.  [/quote]

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