Reply to Washingtonians say $3 million = "wealthy", $720K = comfortable"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]So, in a few years, when I retire, I can take my 2 mil in 401K + 500K home equity, and move elsewhere and be rich?[/quote]

I mean, I think you're being tongue in cheek here... but, yes.  Of course you could be rich with $2.5M NW in many many parts of the world.[/quote]

Our net worth is about $4.5 million, yet my spouse and I  still work full time. Yes we are wealthy but that doesn't mean we can retire now, in our late 40s, so who cares what demographers call us?[/quote]

Actually you could retire now, in your late 40s and have a quality of life better than 95% of Americans.[/quote]

Assuming you were returning 7-10% on your 4.5 million, you are talking about 315-450K per year which would fund one heck of a retirement.  Even a conservative 3% is 135k.  Assuming a paid of mortgage that is an excellent retirement as well.[/quote]

About $3 million of it is liquid and yes our mortgage is paid off.  We feel very fortunate and know we are.[/quote]

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