Reply to If you have been a biglaw partner for 10+ years, how much wealth have you accumulated?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This thread makes me feel a lot better about our dual engineer salaries (one FT, one PT WAH) and our Millionaire Next Door investing perspectives.

We're beating a lot of BigLaw partners in terms of wealth accumulation, and we're working a hell of a lot less. [/quote]

Sorry I don't believe it...how do two engineers end up accumulating $5m+ in net worth by 45 without perhaps some big option scores?

How much can W-2 HHI be without stock options/RSUs for both of you?  $400k combined?  After tax that's $250k?  Perhaps you spend less than $100k annually?  Do you have children?  If not, that's not a fair comparison.  Let's say you save $150k annually but you didn't start your careers out making $400k combined--perhaps more like $200k combined initially--after tax $120k saving $75k annually.  So on average saving $100k annually for the last 20 years?

Also you're comparing yourself to the big law partner where one spouse stays at home the entire time--both of you work.  If you have two big law partner spouses you're talking about net worths of $10m+.[/quote]

Im an engineer, 51.  HHI is about $400K.  Net worth is about $6m. Both kids already completed private college.   I actually should be worth more...about $20m or so....lost big $$ at Worldcom (was a ten year senior mgr/dir there) and a couple of start up companies.  I lost most of my financial net worth around 2002, but earned back some of it.  Not to boast, but don't underestimate folks with engineering degrees.   They are usually the sharpest knives in the drawer, with excellent analytical and problem solving skills.  Making big $$ has never been a problem for me and some of my contemporaries.

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