Anonymous
Post 07/25/2022 17:36     Subject: Re:Is it normal around here to have 10 mil in assets by the time you retire?
Anonymous wrote:
Anonymous wrote:If you can save $100k a year for 30 years and it generates an 8% return what does that give you? Does that do it? Who’s good with a calculator? For most people to get to $10m requires saving a lot early on and benefiting from compounding. Or inherit a fortune or marry well!


Who TF can save 100k per year???


Someone who makes $500k a year?
Anonymous
Post 07/25/2022 17:22     Subject: Re:Is it normal around here to have 10 mil in assets by the time you retire?
Anonymous wrote:If you can save $100k a year for 30 years and it generates an 8% return what does that give you? Does that do it? Who’s good with a calculator? For most people to get to $10m requires saving a lot early on and benefiting from compounding. Or inherit a fortune or marry well!


Who TF can save 100k per year???
Anonymous
Post 07/25/2022 17:00     Subject: Re:Is it normal around here to have 10 mil in assets by the time you retire?
If you can save $100k a year for 30 years and it generates an 8% return what does that give you? Does that do it? Who’s good with a calculator? For most people to get to $10m requires saving a lot early on and benefiting from compounding. Or inherit a fortune or marry well!
Anonymous
Post 07/25/2022 16:22     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
Anonymous wrote:Retired Fed. My magic number was $3 million. I made it and retired before age 60.


3M per spouse? So 6M?
Anonymous
Post 07/25/2022 16:21     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
Anonymous wrote:Who cares? The DC area includes Chevy Chase. It also includes Woodbridge.

Who cares??


We live in Woodbridge and are at 11.2M.
Anonymous
Post 07/25/2022 16:20     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
Yes..actually easy to do if you are diligent.
Anonymous
Post 07/25/2022 16:18     Subject: Re:Is it normal around here to have 10 mil in assets by the time you retire?
The answer will range from zero to hundreds of millions, reflecting the variation in individual circumstances in the area. In other words, some will have more, some less. Are you surprised?
Anonymous
Post 07/25/2022 16:16     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
Anonymous wrote:What is the average net worth of people in the DC area?



I’m sure you aren’t serious, considering the abject poverty of a large portion of DC’s population.

Or are those not the “people” that count to you?
Anonymous
Post 07/25/2022 16:13     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
Retired Fed. My magic number was $3 million. I made it and retired before age 60.
Anonymous
Post 07/25/2022 16:11     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
I'm in Rockville. Including my house, our assets will be like $3.8mil. We plan to retire in our mid/late 50s, maybe at 60.
Anonymous
Post 07/25/2022 16:06     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
Who cares? The DC area includes Chevy Chase. It also includes Woodbridge.

Who cares??
Anonymous
Post 07/25/2022 16:05     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
The average net worth at age 60 is $200,000.
Anonymous
Post 07/25/2022 16:01     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
In 2014, the DC Metro area's average net worth is less than a million dollars, so I think it unlikely that most people have $10 million upon retirement.
Anonymous
Post 07/25/2022 15:56     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
I seriously doubt it.
Anonymous
Post 07/25/2022 15:41     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
What is the average net worth of people in the DC area?