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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m a former Biglaw partner who retired early a decade ago in my early 50s, haven’t done any kind of work since, and I consider myself rich even though I’d be three times richer had I continued working.

We currently have a net worth of just over $8 million.  $2 million of that is real estate equity in our primary residence and second home.  We still have a mortgage on our primary residence because the mortgage rate is ridiculous (under 2 percent).

The remaining $6 million plus is a little over on million in a brokerage account and the rest in retirement accounts.  I elected to take social security early and between that another small source of income we bring in about $75k a year.  We’re living quite well as a result while drawing down substantially less from our accounts than most experts recommend as the maximum, so our net work has been increasing each year.

I am definitely not rich by Biglaw standards or DCUM standards but it sure is nice not having to even think about what day of the week it is most mornings.  [/quote]

Americans are really rich. I am just amazed how quickly some can legally acquire such significant wealth. [/quote]

We are children of poor Asian immigrants. DH and I studied hard and worked hard. We now have a $2m+ HHI, live in a $4m house and have a $15m net worth.

Compared to other parts of the world, one has so many more opportunities here. Even if you are not academically successful, one can achieve financial success in many ways. [/quote]

Couldn’t agree more. Academics and where you went to college has nothing to do with it. It may open some doors and provide a few additional opportunities in the beginning but after that it’s all on you — ambition, hard work, risk tolerance, seeing and taking advantage of opportunities, etc. There is definitely some luck involved. Of course, not counting if you were born into money or received a large inheritance.

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People-skills and networking are far more pertinent than academic abilities [/quote]

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