Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How did you all under 40 save so much money? I assume part of the pps here have really awesome paying jobs, but I can't imagine that majority of 35 year olds has jobs that pay over 300K. Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?
Or is it that only rich are posting here and those that live pay check to pay check are not posting?

New P here, Ages 35,36, NW of $1.3 million, $300 of which is home equity. We were given $200k to help buy a place, but generally speaking, we both have been working since college graduation and saved saved saved. That means we have two incomes being saved for 14 years. We also paid off DH and my student loans in that time. Its been tight but I don't feel deprived.

LOL LOTS of people -- I'd venture to say most people -- in this area have been working since graduation + save save save. Guess what the difference maker is, YOUR PARENTS.

That its probably true, but if we subtracted that, we would probably have about anywhere from 800k- $1 million in savings still. That was from savings and working hard strategically in higher earning roles.

Anonymous wrote:

Anonymous wrote:How did you all under 40 save so much money? I assume part of the pps here have really awesome paying jobs, but I can't imagine that majority of 35 year olds has jobs that pay over 300K. Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?
Or is it that only rich are posting here and those that live pay check to pay check are not posting?

New P here, Ages 35,36, NW of $1.3 million, $300 of which is home equity. We were given $200k to help buy a place, but generally speaking, we both have been working since college graduation and saved saved saved. That means we have two incomes being saved for 14 years. We also paid off DH and my student loans in that time. Its been tight but I don't feel deprived.

This is interesting to me because we're 37 & 38, NW of $800k. If you strip out the $200k you didn't have to pony up for a DP and the $300k you wouldn't have without that gift, we're pretty much even. Except I've been working since I was 14 and save save saving.

It's nice that you "don't feel deprived," though.

Poster in late thirties with 1.7 m. Other than school for me no parental help. We were fortunate enough to graduate with no undergrad student loan debt (me from parents, so I did have parental help in that sense and he with a full ride scholarship). I started in finance and saved hefty bonuses. He went to medical school and incurred debt. When he was a resident with negative net worth I continued working, with that money I earned I paid off his student loans. We lived for years in a dinky small apartment for years to save money and suddenly when he became an attending his salary exploded, mid six figures, high six figures, and then nearly seven figures. With that we put a down payment on a house and now here we are. But I’ll remember the days in the small apartments with rats running around in the kitchen.

We are 40 and 41 with a net worth of $1.7M. No family money or inheritances, other than fully paid for undergrad (which is huge, don't get me wrong). We took out loans for/financed two graduate degrees.

The keys for us are 1) have had a HHI of $250+ for almost 10 years, 2) lots of equity in a house that we bought for $500k 10+ years ago, and 3) job/life flexibility that comes from having two wage earners. And yeah, one person started in biglaw, but only stayed for 3 years.

Anonymous wrote:

Anonymous wrote:How did you all under 40 save so much money? I assume part of the pps here have really awesome paying jobs, but I can't imagine that majority of 35 year olds has jobs that pay over 300K. Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?
Or is it that only rich are posting here and those that live pay check to pay check are not posting?

New P here, Ages 35,36, NW of $1.3 million, $300 of which is home equity. We were given $200k to help buy a place, but generally speaking, we both have been working since college graduation and saved saved saved. That means we have two incomes being saved for 14 years. We also paid off DH and my student loans in that time. Its been tight but I don't feel deprived.

LOL LOTS of people -- I'd venture to say most people -- in this area have been working since graduation + save save save. Guess what the difference maker is, YOUR PARENTS.

Anonymous wrote:

Anonymous wrote:How did you all under 40 save so much money? I assume part of the pps here have really awesome paying jobs, but I can't imagine that majority of 35 year olds has jobs that pay over 300K. Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?
Or is it that only rich are posting here and those that live pay check to pay check are not posting?

New P here, Ages 35,36, NW of $1.3 million, $300 of which is home equity. We were given $200k to help buy a place, but generally speaking, we both have been working since college graduation and saved saved saved. That means we have two incomes being saved for 14 years. We also paid off DH and my student loans in that time. Its been tight but I don't feel deprived.

Stop right there.

Anonymous wrote:How did you all under 40 save so much money? I assume part of the pps here have really awesome paying jobs, but I can't imagine that majority of 35 year olds has jobs that pay over 300K. Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?
Or is it that only rich are posting here and those that live pay check to pay check are not posting?

New P here, Ages 35,36, NW of $1.3 million, $300 of which is home equity. We were given $200k to help buy a place, but generally speaking, we both have been working since college graduation and saved saved saved. That means we have two incomes being saved for 14 years. We also paid off DH and my student loans in that time. Its been tight but I don't feel deprived.

41 and 3.5m

Anonymous wrote:How did you all under 40 save so much money? I assume part of the pps here have really awesome paying jobs, but I can't imagine that majority of 35 year olds has jobs that pay over 300K. Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?
Or is it that only rich are posting here and those that live pay check to pay check are not posting?

Isn't that always the case with any type of money question here or on the internet generally? The 37 year old sitting at 1.2 mil or 5mil or whatever has no problem letting that be known. The 37 yr old at 100k or 300k or in many cases -100k bc school debt still isn't paid off and the house has no equity yet is going to stay silent after seeing the staggering numbers in the multiple millions.

That being said I think for a lot of people here -- they started in biglaw; even if you don't make partner/don't stay to make partner, if you are able to hold onto your job for 7 or so years AND you had reasonable (100k or less) school debt, you had a lot of potential to save and invest from age 25-32. So that "nest egg" is set young and keeps on growing even as many then go onto 150k government or 200k in house jobs -- sure they still save on those jobs too, but it's really the initial nest egg that's growing.

52yo 13.8 mil

DW and I have -
1.5mil iras
800k savings
1.5 mil equity in home
5 mil private company
5 mil commercial real estate

Now if our 3 kids would graduate college I could retire and spend my days with DW.

40 and $1.2M

Anonymous wrote:

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.

What the hell does your parents meeting your kids have to do with anything?

How did you all under 40 save so much money? I assume part of the pps here have really awesome paying jobs, but I can't imagine that majority of 35 year olds has jobs that pay over 300K. Was it a trust fund? Parents buying houses? What is it, honestly? If you had absolutely no money coming from parents or grandparents how are you saving so much?
Or is it that only rich are posting here and those that live pay check to pay check are not posting?

34 & 35, 3 kids under 10, about $700k split 65/35ish between accounts and investments (retirement included) and real estate.

26 and only a few months away from crossing 300k — 290k right now