Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$15m is hard to get to without generational wealth, getting lucky in tech, or slaving away in big law.

I have over $15M and none of the above apply to me. Just a lot of due diligence and exceptional individual stock picking (some in tech but mostly in other sectors like bio and pharma). I make an average salary. Investing is not hard but it requires a lot of research and some luck.

You didn't mention your 15yo Honda.

I'm a different poster. I own a KIA Sorrento and a Toyota Corolla. I do own a coop share in an airplane.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey op, you surprised to see the predictable bs replies ?

The only BS replies are ones like yours. Others are actually replying to the OP's question. 20M here, OP. No inheritance or high income. A lifetime of investment, that's all.

These are what shock me the most.

I can buy that certain careers lead to $20M by say, 50 ($5-10M HHI a year = hedge fund, private equity).

I get that certain careers lead to $8-10M by 50 ($2-3M HHI = very successful in BigLaw, consulting, executives at large companies, maybe FAANG SWE).

But what surprises me is when people are not high income, didn't have an inheritance and get to $20M. Even someone making $2-3M (like the big law lawyer) is still going to struggle to get to that $20M figure. What exactly are you investing in?!

The TSP C fund. I have $3.9 million in there after 30 years of putting 80% of my pretax contributions in there.

Ouch. Good luck with those RMDs.

Converting a bit at a time even before I hit 73. Roths weren't available when I started at the federal government in 1991 so not much more I can do.

That's good but you'll definitely be triggering much higher Medicare IRMAA premiums as you perform your Roth conversions. Medicare does a two year look back on your Modified Adjusted Gross Income to determine your Medicare premiums. With $3.9M in regular TSP, I'm guessing it will probably be impossible to convert all of that $3.9M without going into the higher income tax brackets (32%,35%, 37%) even if you spread out the conversions until you are 73. And that's assuming the income tax brackets rates are not raised at some point in the future. The remaining funds in your TSP will keep growing at a long-term rate of 8-10% even as you do the conversions. It's a "good" problem to have but those RMDs will be significant. Use AI to do some projections assuming various growth rates. You will be surprised at the results. One move you can make to save some tax $ is to move to a state with no state income taxes.

We're in the highest tax bracket already any way you slice it. My spouse has about $3 million in a pre tax retirement vehicle too..."good" indeed but tough from a tax point of view.

Yep. So you'll be converting when you are already in the highest tax bracket? Hmmmm. Is there any way you can lower your taxable income while you convert?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey op, you surprised to see the predictable bs replies ?

The only BS replies are ones like yours. Others are actually replying to the OP's question. 20M here, OP. No inheritance or high income. A lifetime of investment, that's all.

These are what shock me the most.

I can buy that certain careers lead to $20M by say, 50 ($5-10M HHI a year = hedge fund, private equity).

I get that certain careers lead to $8-10M by 50 ($2-3M HHI = very successful in BigLaw, consulting, executives at large companies, maybe FAANG SWE).

But what surprises me is when people are not high income, didn't have an inheritance and get to $20M. Even someone making $2-3M (like the big law lawyer) is still going to struggle to get to that $20M figure. What exactly are you investing in?!

54 yo retired military aviator here. My wife still works making a salary of about $190K because she loves her job. We are approaching $17M mainly from living well below our means and investing in individual stocks and properties. We bought properties almost everywhere I was stationed (San Diego; Monterey, CA; Pensacola, FL; Arlington) and kept them to rent out. Also bought a small condo in the Lake Tahoe region (Nevada side) to use as a base for fun activities (just got back from skiing at Heavenly). Individual stock picks have had incredibly huge gains with early investments in Cymer which was bought out in cash/stock deal by ASML. ASML stock has seen huge gains as the company is the key to manufacturing advanced chips. A few biotech stocks that went ballistic and some were bought out. One medtech company that has been on a rocket. Etc. Have had a few bad investments but fortunately they were small losses relatively. Requires a lot of research.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey op, you surprised to see the predictable bs replies ?

The only BS replies are ones like yours. Others are actually replying to the OP's question. 20M here, OP. No inheritance or high income. A lifetime of investment, that's all.

These are what shock me the most.

I can buy that certain careers lead to $20M by say, 50 ($5-10M HHI a year = hedge fund, private equity).

I get that certain careers lead to $8-10M by 50 ($2-3M HHI = very successful in BigLaw, consulting, executives at large companies, maybe FAANG SWE).

But what surprises me is when people are not high income, didn't have an inheritance and get to $20M. Even someone making $2-3M (like the big law lawyer) is still going to struggle to get to that $20M figure. What exactly are you investing in?!

The TSP C fund. I have $3.9 million in there after 30 years of putting 80% of my pretax contributions in there.

Ouch. Good luck with those RMDs.

Converting a bit at a time even before I hit 73. Roths weren't available when I started at the federal government in 1991 so not much more I can do.

That's good but you'll definitely be triggering much higher Medicare IRMAA premiums as you perform your Roth conversions. Medicare does a two year look back on your Modified Adjusted Gross Income to determine your Medicare premiums. With $3.9M in regular TSP, I'm guessing it will probably be impossible to convert all of that $3.9M without going into the higher income tax brackets (32%,35%, 37%) even if you spread out the conversions until you are 73. And that's assuming the income tax brackets rates are not raised at some point in the future. The remaining funds in your TSP will keep growing at a long-term rate of 8-10% even as you do the conversions. It's a "good" problem to have but those RMDs will be significant. Use AI to do some projections assuming various growth rates. You will be surprised at the results. One move you can make to save some tax $ is to move to a state with no state income taxes.

We're in the highest tax bracket already any way you slice it. My spouse has about $3 million in a pre tax retirement vehicle too..."good" indeed but tough from a tax point of view.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey op, you surprised to see the predictable bs replies ?

The only BS replies are ones like yours. Others are actually replying to the OP's question. 20M here, OP. No inheritance or high income. A lifetime of investment, that's all.

These are what shock me the most.

I can buy that certain careers lead to $20M by say, 50 ($5-10M HHI a year = hedge fund, private equity).

I get that certain careers lead to $8-10M by 50 ($2-3M HHI = very successful in BigLaw, consulting, executives at large companies, maybe FAANG SWE).

But what surprises me is when people are not high income, didn't have an inheritance and get to $20M. Even someone making $2-3M (like the big law lawyer) is still going to struggle to get to that $20M figure. What exactly are you investing in?!

The TSP C fund. I have $3.9 million in there after 30 years of putting 80% of my pretax contributions in there.

Then you're doing it wrong. This is thread about all of those around you, with your salary provided your married, with $15M.

I don't understand this comment. I posted elsewhere in the thread because with my spouse we are just below $15 M. Do you somehow think that if I have $3.9 million in my TSP that we don't have $15 M? Where's the logic in your comment?

The logic is that you’re supposed to emphasize in every post that you saved $15M from your government salary all without an inheritance because you shop at Aldi.

But, you’re failing even by asking the question.

Ha ha ha

Anonymous wrote:

Anonymous wrote:$15m is hard to get to without generational wealth, getting lucky in tech, or slaving away in big law.

I have over $15M and none of the above apply to me. Just a lot of due diligence and exceptional individual stock picking (some in tech but mostly in other sectors like bio and pharma). I make an average salary. Investing is not hard but it requires a lot of research and some luck.

You didn't mention your 15yo Honda.

Anonymous wrote:$15m is hard to get to without generational wealth, getting lucky in tech, or slaving away in big law.

I have over $15M and none of the above apply to me. Just a lot of due diligence and exceptional individual stock picking (some in tech but mostly in other sectors like bio and pharma). I make an average salary. Investing is not hard but it requires a lot of research and some luck.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey op, you surprised to see the predictable bs replies ?

The only BS replies are ones like yours. Others are actually replying to the OP's question. 20M here, OP. No inheritance or high income. A lifetime of investment, that's all.

These are what shock me the most.

I can buy that certain careers lead to $20M by say, 50 ($5-10M HHI a year = hedge fund, private equity).

I get that certain careers lead to $8-10M by 50 ($2-3M HHI = very successful in BigLaw, consulting, executives at large companies, maybe FAANG SWE).

But what surprises me is when people are not high income, didn't have an inheritance and get to $20M. Even someone making $2-3M (like the big law lawyer) is still going to struggle to get to that $20M figure. What exactly are you investing in?!

The TSP C fund. I have $3.9 million in there after 30 years of putting 80% of my pretax contributions in there.

Ouch. Good luck with those RMDs.

Converting a bit at a time even before I hit 73. Roths weren't available when I started at the federal government in 1991 so not much more I can do.

That's good but you'll definitely be triggering much higher Medicare IRMAA premiums as you perform your Roth conversions. Medicare does a two year look back on your Modified Adjusted Gross Income to determine your Medicare premiums. With $3.9M in regular TSP, I'm guessing it will probably be impossible to convert all of that $3.9M without going into the higher income tax brackets (32%,35%, 37%) even if you spread out the conversions until you are 73. And that's assuming the income tax brackets rates are not raised at some point in the future. The remaining funds in your TSP will keep growing at a long-term rate of 8-10% even as you do the conversions. It's a "good" problem to have but those RMDs will be significant. Use AI to do some projections assuming various growth rates. You will be surprised at the results. One move you can make to save some tax $ is to move to a state with no state income taxes.

Anonymous wrote:Is $15 Million really enough to retire these days?

It seems like it should be enough for over 99% of the population. Let's say, you have $3m tied up in your primary residence. This leaves $12m in invested assets, which yield $480k/y using the 4% rule.

$15m is hard to get to without generational wealth, getting lucky in tech, or slaving away in big law.

Is $15 Million really enough to retire these days?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey op, you surprised to see the predictable bs replies ?

The only BS replies are ones like yours. Others are actually replying to the OP's question. 20M here, OP. No inheritance or high income. A lifetime of investment, that's all.

These are what shock me the most.

I can buy that certain careers lead to $20M by say, 50 ($5-10M HHI a year = hedge fund, private equity).

I get that certain careers lead to $8-10M by 50 ($2-3M HHI = very successful in BigLaw, consulting, executives at large companies, maybe FAANG SWE).

But what surprises me is when people are not high income, didn't have an inheritance and get to $20M. Even someone making $2-3M (like the big law lawyer) is still going to struggle to get to that $20M figure. What exactly are you investing in?!

The TSP C fund. I have $3.9 million in there after 30 years of putting 80% of my pretax contributions in there.

Then you're doing it wrong. This is thread about all of those around you, with your salary provided your married, with $15M.

I don't understand this comment. I posted elsewhere in the thread because with my spouse we are just below $15 M. Do you somehow think that if I have $3.9 million in my TSP that we don't have $15 M? Where's the logic in your comment?

The logic is that you’re supposed to emphasize in every post that you saved $15M from your government salary all without an inheritance because you shop at Aldi.

But, you’re failing even by asking the question.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey op, you surprised to see the predictable bs replies ?

The only BS replies are ones like yours. Others are actually replying to the OP's question. 20M here, OP. No inheritance or high income. A lifetime of investment, that's all.

These are what shock me the most.

I can buy that certain careers lead to $20M by say, 50 ($5-10M HHI a year = hedge fund, private equity).

I get that certain careers lead to $8-10M by 50 ($2-3M HHI = very successful in BigLaw, consulting, executives at large companies, maybe FAANG SWE).

But what surprises me is when people are not high income, didn't have an inheritance and get to $20M. Even someone making $2-3M (like the big law lawyer) is still going to struggle to get to that $20M figure. What exactly are you investing in?!

The TSP C fund. I have $3.9 million in there after 30 years of putting 80% of my pretax contributions in there.

Then you're doing it wrong. This is thread about all of those around you, with your salary provided your married, with $15M.

I don't understand this comment. I posted elsewhere in the thread because with my spouse we are just below $15 M. Do you somehow think that if I have $3.9 million in my TSP that we don't have $15 M? Where's the logic in your comment?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey op, you surprised to see the predictable bs replies ?

The only BS replies are ones like yours. Others are actually replying to the OP's question. 20M here, OP. No inheritance or high income. A lifetime of investment, that's all.

These are what shock me the most.

I can buy that certain careers lead to $20M by say, 50 ($5-10M HHI a year = hedge fund, private equity).

I get that certain careers lead to $8-10M by 50 ($2-3M HHI = very successful in BigLaw, consulting, executives at large companies, maybe FAANG SWE).

But what surprises me is when people are not high income, didn't have an inheritance and get to $20M. Even someone making $2-3M (like the big law lawyer) is still going to struggle to get to that $20M figure. What exactly are you investing in?!

The TSP C fund. I have $3.9 million in there after 30 years of putting 80% of my pretax contributions in there.

Ouch. Good luck with those RMDs.

Converting a bit at a time even before I hit 73. Roths weren't available when I started at the federal government in 1991 so not much more I can do.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey op, you surprised to see the predictable bs replies ?

The only BS replies are ones like yours. Others are actually replying to the OP's question. 20M here, OP. No inheritance or high income. A lifetime of investment, that's all.

These are what shock me the most.

I can buy that certain careers lead to $20M by say, 50 ($5-10M HHI a year = hedge fund, private equity).

I get that certain careers lead to $8-10M by 50 ($2-3M HHI = very successful in BigLaw, consulting, executives at large companies, maybe FAANG SWE).

But what surprises me is when people are not high income, didn't have an inheritance and get to $20M. Even someone making $2-3M (like the big law lawyer) is still going to struggle to get to that $20M figure. What exactly are you investing in?!

Apple for us. We invested very little a long time ago, because we didn't have much, and that's why we're *only* at 20M. Perhaps you aren't very well versed in which companies have done extremely well for our generation, but if someone tells you they made their current wealth over decades of modest stock market investment, it's likely Apple. It's the only company that fits the bill. If someone tells you they made a fortune recently in the stock market, it's likely crypto. And so on and so forth...

Congrats on AAPL but there are many companies that have performed just as well if not better than AAPL in the last two decades. Check out a company called Intuitive Surgical (ISRG). We bought ISRG very heavily early (in the early 2000s) as my husband is a urologist and it's now worth about $32M. Life is good.