Anonymous wrote:Continue to save and invest. Don't spend it.

+1 you’re on the right track but still a long way to go. Make sure you’re 100% in equities.

Anonymous wrote:

Anonymous wrote:Congrats on the family money, OP! Your first move should be to reallocate that inheritance so that it aligns with your time horizon instead of your parents or grandparents. Your second move should be to find a reliable financial advisor. You don’t want to get too far ahead of your skis, OP. Most people sporting significant new money end up squandering the majority of it before they learn discipline and control.

You must be joking. This is only $1m.

It’s a high class family gift at the outer rim. Think Rockville or even Frederick.

Anonymous wrote:Congrats on the family money, OP! Your first move should be to reallocate that inheritance so that it aligns with your time horizon instead of your parents or grandparents. Your second move should be to find a reliable financial advisor. You don’t want to get too far ahead of your skis, OP. Most people sporting significant new money end up squandering the majority of it before they learn discipline and control.

You must be joking. This is only $1m.

Congrats on the family money, OP! Your first move should be to reallocate that inheritance so that it aligns with your time horizon instead of your parents or grandparents. Your second move should be to find a reliable financial advisor. You don’t want to get too far ahead of your skis, OP. Most people sporting significant new money end up squandering the majority of it before they learn discipline and control.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seriously?

What?

I don't understand how anyone smart enough to accrue 1m by 30 is dumb enough to crowd surf investment advice on a mommy forum.

Because there is no linear relationship. You think Musk, the billionaire, is that much smarter than a millionaire? He's smart, certainly, but drive and sheer luck play too, and those cannot be measured on an intelligence scale.

If you have 1M by 30, you are not automatically smarter than someone else, but maybe you did go into a more lucrative field, or invested smartly, or inherited.

Also, this isn't just a mommy forum. This is DCUM, where the mommies are educated and wealthy (which is why OP posted here and not Babycenter). Does it make you feel better, PP, that I'm writing this as a mommy in the 1% percent?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seriously?

What?

I don't understand how anyone smart enough to accrue 1m by 30 is dumb enough to crowd surf investment advice on a mommy forum.

A lot of us have been in that position and have much more money now.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seriously?

What?

I don't understand how anyone smart enough to accrue 1m by 30 is dumb enough to crowd surf investment advice on a mommy forum.

Part of your problem is thinking that having $1M MEANS the person is smart. It doesnt

Pretty good way of measuring intelligence.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seriously?

What?

I don't understand how anyone smart enough to accrue 1m by 30 is dumb enough to crowd surf investment advice on a mommy forum.

Part of your problem is thinking that having $1M MEANS the person is smart. It doesnt

Anonymous wrote:

Anonymous wrote:Seriously?

What?

I don't understand how anyone smart enough to accrue 1m by 30 is dumb enough to crowd surf investment advice on a mommy forum.

We are early 30s with about 1.5m liquid outside home equity. We save between 150-200k/yr. I’m going to keep this up until we get our kids through middle school then probably slow down. Even with poor returns, that should get us close to 4-5M liquid in our early 40s.

My goal is $10m liquid by 55. Who knows if I’ll need to actually get there.

Keep it up, you’ll be glad you did.

Anonymous wrote:Seriously?

What?

Figure out a goal. Retire by X? Move to a passion job? Then figure out the combination of time and savings that will get you there in a way that optimizes for you.

Do not cut back. Kee going. Great job.

As a person in a similar situation we keep saving as much as possible because you never know what can happen. Retirement accounts are always maxed then we save on top of that. I’m not worried if we go a month or two saving little or nothing on top of retirement because we took an expensive vacation or wanted work done on the house but we don’t make it a habitual thing.

If you are saving and investing 20-25% of your salary you are doing very well. If you have $1 million now it could be $4 million by the time you are 45 without adding any more. Keep saving and that number could be $8-10 million in your early 50’s. Just make sure that you are enjoying life today as you never know what might happen in the future.