We just reached $1M in retirement savings! We are in our late 40's. Some of it is pretax (401k), but we are thrilled with this milestone!

Our tax bill was 1/3 what we planned for in Aprl so we are using some of the windfall to take the kids to Disney.

I just flipped a house and made 250k.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I had a negative net worth at 25.

At 38, I was worth a million; at 44; two million. Only took until I was 48 to reach the third million and three years later, closing in on the fourth million.

Sounds like me. I'm 44 and am where you were.

Keep going!

At 28 I had negative net worth of about -$150k (mainly student loans); Now, at 33, I have a net worth over +$350k. I am happy with that "money brag," and hoping that I'll follow your progression.

Way to go!

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Anonymous wrote:Just retired at 55 from the best job in the world, defined-pension paying me 100% of my final pay including COLA and lifetime medical & dental for wife and myself.

House almost paid off

$900,000. in savings and investments

All 3 kids put through college with no loans

Not a worry in the world assuming I stay healthy.

Wow. I want your former job! What did you do?

Almost embarrassed to say, retired Firefighter in CA with yearly retirement of over $100,000.

Don't be embarrassed. People who put their life on the line should be well compensated.

Absolutely agree.

Nice!! So if you live until 85, does that mean you get $3mil out of the CA tax payers? No wonder our pension systems are going bankrupt...

How many burning buildings have YOU run into lately?

None? Then shut it.

Hey, if the average Joe making $55k a year in CA wants to contribute to their army of retired firefighters to the tune of $100k a year for 15-30 years...no shirt off my back. Just can't imagine the system can be sustained.

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just retired at 55 from the best job in the world, defined-pension paying me 100% of my final pay including COLA and lifetime medical & dental for wife and myself.

House almost paid off

$900,000. in savings and investments

All 3 kids put through college with no loans

Not a worry in the world assuming I stay healthy.

Wow. I want your former job! What did you do?

Almost embarrassed to say, retired Firefighter in CA with yearly retirement of over $100,000.

Don't be embarrassed. People who put their life on the line should be well compensated.

Absolutely agree.

Nice!! So if you live until 85, does that mean you get $3mil out of the CA tax payers? No wonder our pension systems are going bankrupt...

How many burning buildings have YOU run into lately?

None? Then shut it.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just retired at 55 from the best job in the world, defined-pension paying me 100% of my final pay including COLA and lifetime medical & dental for wife and myself.

House almost paid off

$900,000. in savings and investments

All 3 kids put through college with no loans

Not a worry in the world assuming I stay healthy.

Wow. I want your former job! What did you do?

Almost embarrassed to say, retired Firefighter in CA with yearly retirement of over $100,000.

Thank you for your service and it's great that you are well compensated.

How the heck does a retired firefighter from CA end up on DCUM?

I feel like I don't know anything about money because I don't really get the stock market etc. but feel like we are doing pretty well for a few reasons.

-I earn over 6 figures (110K) which puts me in the top 3% or so of women in the US in terms of earning. Doesn't feel that way because clearly in DC I'm around thousands of women making much more, but it's something I'm proud of.

-We are and have always been a one car family (live in burbs but can walk to metro and both do for work) so feel like that saves a lot of $.

- We save for retirement which a lot of people either can't or don't do. We are behind (have about $240K and will be 40 this year) but upped our contributions this year and made some better choices.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just retired at 55 from the best job in the world, defined-pension paying me 100% of my final pay including COLA and lifetime medical & dental for wife and myself.

House almost paid off

$900,000. in savings and investments

All 3 kids put through college with no loans

Not a worry in the world assuming I stay healthy.

Wow. I want your former job! What did you do?

Almost embarrassed to say, retired Firefighter in CA with yearly retirement of over $100,000.

Don't be embarrassed. People who put their life on the line should be well compensated.

Absolutely agree.

Nice!! So if you live until 85, does that mean you get $3mil out of the CA tax payers? No wonder our pension systems are going bankrupt...

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I had a negative net worth at 25.

At 38, I was worth a million; at 44; two million. Only took until I was 48 to reach the third million and three years later, closing in on the fourth million.

Sounds like me. I'm 44 and am where you were.

Keep going!

At 28 I had negative net worth of about -$150k (mainly student loans); Now, at 33, I have a net worth over +$350k. I am happy with that "money brag," and hoping that I'll follow your progression.

Anonymous wrote:

Anonymous wrote:I had a negative net worth at 25.

At 38, I was worth a million; at 44; two million. Only took until I was 48 to reach the third million and three years later, closing in on the fourth million.

Sounds like me. I'm 44 and am where you were.

Keep going!

Anonymous wrote:I had a negative net worth at 25.

At 38, I was worth a million; at 44; two million. Only took until I was 48 to reach the third million and three years later, closing in on the fourth million.

Sounds like me. I'm 44 and am where you were.

We own a gold mine.

I am the master at getting expensive things without paying for them directly. First class tickets paid for with the hundreds of thousands of miles I fly for business. Masters degree and PhD paid for by my employer. DC's education financed with DH's GI Bill. $500 in gift card with Amex points just yesterday.

Anonymous wrote:Ten years ago, I left an abusive, drug-addicted husband, taking just my year old daughter and barely a suitcase of clothes. I soon learned than my (now ex) had taken out almost $100K in loans in our names. He declared bankruptcy, so I was stuck with it all. Money was a constant stress and sometimes I couldn't even buy groceries.

Ten years later, I have a good job, nice house and wonderful life. I've fully paid off the debt and have begun to save for college and retirement. Our turn around seems almost impossible - except I'm the one who made it happen. Ex-h is no longer in the picture, but kid and I are doing really, really well.

I am so happy for you. Congratulations, well deserved. Great job.