Anonymous
12/09/2019 22:25
Subject: Re:What is your age and net worth?
Anonymous wrote:OP here. I wouldn't count pensions. I'm not counting Social Security.
My breakdown is: retirement accounts 3.4 million, brokerage/checking/savings accounts $1.6 million, home equity $750k.
I quit working 5 years ago. Had worked in BigLaw.
Are others with healthy net worth continuing to work? If so, why?
I am the 42 y/o poster with $21MM net worth. I continue to work for a few reasons. 1) I feel that I should show my kids that adults work. 2) I am a bit afraid of running out of money (crazy I know) 3) while I try to get past #2 every month I work increases my net worth by $100K post taxes or roughly I can comfortably withdraw an extra $333 per month for every month do my life every month that I defer retiring.
Anonymous
12/09/2019 22:02
Subject: Re:What is your age and net worth?
Anonymous wrote:OP here. I wouldn't count pensions. I'm not counting Social Security.
My breakdown is: retirement accounts 3.4 million, brokerage/checking/savings accounts $1.6 million, home equity $750k.
I quit working 5 years ago. Had worked in BigLaw.
Are others with healthy net worth continuing to work? If so, why?
Never has occurred to me to stop working yet. I’ve got hopefully 50 years left to live, no pension, lots of concern about future economic cycles. Who knows what the future will bring. Kids are in middle school. If all continues well for the next 5-10 years and 10-12m net worth becomes more like 15-20 and the kids are finishing high school / off to college and we were in our 50s we’d think about it more seriously or consider doing something different that accommodated more travel or whatever we wanted to do then
Anonymous
12/09/2019 21:54
Subject: What is your age and net worth?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:38 and 39, $6m. We're both working full time and plan to continue doing so. We have 2 kids under 10.
You amassed this amount through your jobs?
No, inheritance and gifts are the bulk of that.
God, you are so lucky. I had to work for everything. I always wonder how people live in our neighborhood and they are 10 years younger than us. Took us all this time to get there.
Yes, I know we are very lucky.
Well, I hope that the job that you say you really like is actually doing the world some good. Otherwise you're doing your family a disservice and one day will come to regret it.
Don't listen to this poster PP. I am older than you and have a lot of assets and don't need to work and haven't needed to in a while and still do. My kids are older. I think there is huge value in your kids seeing you working. And value for you in being a productive member of society. If you enjoy what you do, you can make time for that and your family too. You won't regret it.
You didn't read my post correctly. I never said she shouldn't work per se. I said she shouldn't be working on something that isn't doing the world some good. From those who are given much, much is expected.
Thanks. I would not say that my work is particularly doing the world any good. As I said, I enjoy it and I'm also good at it, and I agree with the PP that there's a lot of value in my kids seeing me work and being a productive member of society. But yes, ideally I would do something that had more societal value (while still earning money and making use of my skills) and would allow me a bit more time to spend with my family. I just honestly have no idea at the moment what that is.
Well, I appreciate your honesty. But I don't equate working while rich on a job that doesn't "particularly do the world any good" with being a "productive member of society." There are so many things that you could do, even without requiring your "skills." I don't get people who think like you.
But, hey, enjoy the rat race!
Enjoy looking super jelly!! OP is fortunate and recognizes it and is a productive member of society. She is not doing her family a disservice that she will regret and she doesn't need to be a martyr and save the world...good grief! She's rich and you're not....move along.
Anonymous
12/09/2019 21:43
Subject: What is your age and net worth?
44/46- $1.3 million plus a pension worth about $60K a year.
Anonymous
12/09/2019 21:38
Subject: Re:What is your age and net worth?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:OP here. I wouldn't count pensions. I'm not counting Social Security.
My breakdown is: retirement accounts 3.4 million, brokerage/checking/savings accounts $1.6 million, home equity $750k.
I quit working 5 years ago. Had worked in BigLaw.
Are others with healthy net worth continuing to work? If so, why?
Health insurance and trying to instill a work ethic in my kids who will likely inherit a lot of money one day, thanks to wealthy ILs.
Meh. With a high net worth you don’t need employer health insurance. You can just buy your own.
I'm a high net worth person and quit working. I've posted on here before, however, that health insurance is very expensive. I'm not complaining but just stating the facts. It increases again next month to about $5100 a MONTH for a family of four. Yes, we can "just buy our own" but that is quite a bit of "change."
Where do you live? I just did a search on the DC Health Exchange and the MOST expensive top of the line plan that they offer for a family of four doesn't even cost half that.
Northern va. In all of va there is a single plan that’s a ppo that’s available for an individual. For that you can have gold or silver - we do the “cheaper” silver one. We could do an hmo but want a ppo.
Even with your net worth, paying $60,000 a year for health insurance would drive me to getting an additional cash stream, preferrably from a job with health insurance.
Anonymous
12/09/2019 21:15
Subject: Re:What is your age and net worth?
37/38
About to hit $2 million exactly. No inheritance or gifts, but parents paid for undergrad - so hugely privileged in that way.
850k Retirement (401k, Roth IRA, HSA)
150k Cash in High Interest Savings
400k Taxable Investments
200k Rental Property Equity
250k Primary Home Equity
150k 529s
About to hit $2 million exactly. No inheritance or gifts, but parents paid for undergrad - so hugely privileged in that way.
850k Retirement (401k, Roth IRA, HSA)
150k Cash in High Interest Savings
400k Taxable Investments
200k Rental Property Equity
250k Primary Home Equity
150k 529s
Anonymous
12/09/2019 21:11
Subject: What is your age and net worth?
225K at 59 and 60
Anonymous
12/09/2019 20:55
Subject: What is your age and net worth?
$2.35 million, 43 and 40. Military pension starting next year. DW is a nonprofit manager. No inheritance or employer match.
Anonymous
12/09/2019 20:43
Subject: What is your age and net worth?
1.5 m. We are 43 and 48.
Anonymous
12/09/2019 20:41
Subject: What is your age and net worth?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:38 and 39, $6m. We're both working full time and plan to continue doing so. We have 2 kids under 10.
You amassed this amount through your jobs?
No, inheritance and gifts are the bulk of that.
God, you are so lucky. I had to work for everything. I always wonder how people live in our neighborhood and they are 10 years younger than us. Took us all this time to get there.
Yes, I know we are very lucky.
Well, I hope that the job that you say you really like is actually doing the world some good. Otherwise you're doing your family a disservice and one day will come to regret it.
Don't listen to this poster PP. I am older than you and have a lot of assets and don't need to work and haven't needed to in a while and still do. My kids are older. I think there is huge value in your kids seeing you working. And value for you in being a productive member of society. If you enjoy what you do, you can make time for that and your family too. You won't regret it.
You didn't read my post correctly. I never said she shouldn't work per se. I said she shouldn't be working on something that isn't doing the world some good. From those who are given much, much is expected.
Thanks. I would not say that my work is particularly doing the world any good. As I said, I enjoy it and I'm also good at it, and I agree with the PP that there's a lot of value in my kids seeing me work and being a productive member of society. But yes, ideally I would do something that had more societal value (while still earning money and making use of my skills) and would allow me a bit more time to spend with my family. I just honestly have no idea at the moment what that is.
Well, I appreciate your honesty. But I don't equate working while rich on a job that doesn't "particularly do the world any good" with being a "productive member of society." There are so many things that you could do, even without requiring your "skills." I don't get people who think like you.
But, hey, enjoy the rat race!
NP here. Who the heck are you to determine if her work is up to snuff? There actually is a definition of 'productive member of society' and the wealthy/lucky poster fits it. I realize you're likely speaking out of jealousy, but you should probably come down off your high horse now.
Anonymous
12/09/2019 20:05
Subject: What is your age and net worth?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:38 and 39, $6m. We're both working full time and plan to continue doing so. We have 2 kids under 10.
You amassed this amount through your jobs?
No, inheritance and gifts are the bulk of that.
God, you are so lucky. I had to work for everything. I always wonder how people live in our neighborhood and they are 10 years younger than us. Took us all this time to get there.
Yes, I know we are very lucky.
Well, I hope that the job that you say you really like is actually doing the world some good. Otherwise you're doing your family a disservice and one day will come to regret it.
Don't listen to this poster PP. I am older than you and have a lot of assets and don't need to work and haven't needed to in a while and still do. My kids are older. I think there is huge value in your kids seeing you working. And value for you in being a productive member of society. If you enjoy what you do, you can make time for that and your family too. You won't regret it.
You didn't read my post correctly. I never said she shouldn't work per se. I said she shouldn't be working on something that isn't doing the world some good. From those who are given much, much is expected.
Like what? Not the PP, but with similar numbers and still going to work every day. Please, tell me what would be an acceptable career that I won’t regret someday.
Anonymous
12/09/2019 18:52
Subject: What is your age and net worth?
40 and 42. $1,235,000 plus two government pensions.
Anonymous
12/09/2019 18:37
Subject: Re:What is your age and net worth?
Anonymous wrote:I appreciate the posters who have included some details about what their net worth includes. Obviously a high net worth is a luxury no matter what it includes. DH and I are 39 and 40. Total net worth of $1.025 million (hit $1m earlier this year). We don't own any real estate. Our net worth is retirement $707K (his 401k, my tsp - though I don't work anymore), 529s ($75K), and CDs/cash ($243K). No debt. Our two cars are each 10+ years old, so might be worth $3-5K combined. I didn't included them in our total net worth, since I'm really not sure what they are worth.
When I was 40 and DW was 35, we had the same net worth. Now at 55, it's about $4.0M. Save, stay in your current house, replace your car only when it breaks down, send your kids to public school and you will be rich and have done your part in saving the environment. Oh, and factor in a 30% drop in asset values in all your financial models at least once or twice over your lifetime to keep it real.
Anonymous
12/09/2019 17:22
Subject: Re:What is your age and net worth?
Anonymous wrote:Anonymous wrote:35 and 36 and I guess around $1-1.3 million including the equity in our home. A lot of our assets came from some inheritances I received over the last few years and gifts from my parents. My husband is a surgeon and didn’t finish his residency until he was 31 so he’s only been saving for 5 years. I had a job I loved but the pay was so low that once I became a mom I’ve stayed at home. We are now saving at a very good rate and we have paid off my husband’s medical school loans!
People like you suck sorry not sorry
Same age same net worth and no bs help from Mommy and Daddy
Give me a break. I’m not that poster but I have a significant net worth because my parents died young and never met my kids. So you’re saying in my position you wouldn’t have accepted the inheritance? Suuuuure.
Anonymous
12/09/2019 17:20
Subject: What is your age and net worth?
* am the not need