Anonymous
09/17/2025 14:07
Subject: Net worth over $20 million
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:It maybe feels low to you because I am sure the distribution is very clustered.
I bet 90% of those people live in only like 10 metro markets in the US.
Statewise, it would be Florida, New York and California.
Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.
However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.
DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.
Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.
Dude...you are a bit unhinged...you do realize you don't go from $0 to $3MM per year right? You are earning many hundreds of thousands and maybe over a $1MM for years even before making equity partner, and investing a bunch of that.
That isn’t right. Say you make equity partner in 10 years. You are making $500,000 or less the first five. And probably less than a million for all of it. Most have law school debt and even if they don’t, are saving for a down payment and paying for day care and schools
What do you mean it isn't "right"? Most people making $500k per year can save at least $100k of that...probably even more. Now you are slowly moving up towards $1MM and continuing to save more...assume normal investment returns...now you make equity partner and are making $3MM+ (or maybe $5MM or maybe more). Once you hit partner you are saving like $1MM per year, and again it's all compounding.
So maybe they don't hit a $20MM NW at 8 years...maybe it takes 10 or maybe 12 or 15. The point is you can definitely get there from being a BigLaw partner and DC has an outsized share of BigLaw partners.
Oh ok, now I get it. You were wrong before and you’ve corrected yourself and now say it takes twice as long as you said.
Anonymous
09/17/2025 14:03
Subject: Net worth over $20 million
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:It maybe feels low to you because I am sure the distribution is very clustered.
I bet 90% of those people live in only like 10 metro markets in the US.
Statewise, it would be Florida, New York and California.
Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.
However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.
DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.
Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.
Dude...you are a bit unhinged...you do realize you don't go from $0 to $3MM per year right? You are earning many hundreds of thousands and maybe over a $1MM for years even before making equity partner, and investing a bunch of that.
Dude, I know Biglaw better than you do. There’s no arguing with the ignorant.
Anonymous
09/17/2025 13:43
Subject: Net worth over $20 million
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:It maybe feels low to you because I am sure the distribution is very clustered.
I bet 90% of those people live in only like 10 metro markets in the US.
Statewise, it would be Florida, New York and California.
Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.
However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.
DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.
Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.
Dude...you are a bit unhinged...you do realize you don't go from $0 to $3MM per year right? You are earning many hundreds of thousands and maybe over a $1MM for years even before making equity partner, and investing a bunch of that.
That isn’t right. Say you make equity partner in 10 years. You are making $500,000 or less the first five. And probably less than a million for all of it. Most have law school debt and even if they don’t, are saving for a down payment and paying for day care and schools
What do you mean it isn't "right"? Most people making $500k per year can save at least $100k of that...probably even more. Now you are slowly moving up towards $1MM and continuing to save more...assume normal investment returns...now you make equity partner and are making $3MM+ (or maybe $5MM or maybe more). Once you hit partner you are saving like $1MM per year, and again it's all compounding.
So maybe they don't hit a $20MM NW at 8 years...maybe it takes 10 or maybe 12 or 15. The point is you can definitely get there from being a BigLaw partner and DC has an outsized share of BigLaw partners.
Anonymous
09/17/2025 13:39
Subject: Net worth over $20 million
Anonymous wrote:Sounds about right to me.
People with net worth over $20M are generally not W-2 wage earners who invested well in the stock market. They are entrepreneurs who made it big, people at the very top of their profession (athlete, singer, actor, lawyer, etc.), business owners, and those with generational family wealth.
What you say is likely true yet stars like Taylor Swift have jaded me to the point where I think $20M is not that much for a singer while it still does seem like a lot for an actor. An actor has fewer opportunities to run their career like a business, and a singer does have that opportunity.
Anonymous
09/17/2025 13:37
Subject: Net worth over $20 million
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:It maybe feels low to you because I am sure the distribution is very clustered.
I bet 90% of those people live in only like 10 metro markets in the US.
Statewise, it would be Florida, New York and California.
Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.
However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.
DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.
Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.
Dude...you are a bit unhinged...you do realize you don't go from $0 to $3MM per year right? You are earning many hundreds of thousands and maybe over a $1MM for years even before making equity partner, and investing a bunch of that.
That isn’t right. Say you make equity partner in 10 years. You are making $500,000 or less the first five. And probably less than a million for all of it. Most have law school debt and even if they don’t, are saving for a down payment and paying for day care and schools
Anonymous
09/17/2025 13:31
Subject: Net worth over $20 million
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:It maybe feels low to you because I am sure the distribution is very clustered.
I bet 90% of those people live in only like 10 metro markets in the US.
Statewise, it would be Florida, New York and California.
Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.
However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.
DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.
Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.
Dude...you are a bit unhinged...you do realize you don't go from $0 to $3MM per year right? You are earning many hundreds of thousands and maybe over a $1MM for years even before making equity partner, and investing a bunch of that.
Anonymous
09/17/2025 13:29
Subject: Net worth over $20 million
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:It maybe feels low to you because I am sure the distribution is very clustered.
I bet 90% of those people live in only like 10 metro markets in the US.
Statewise, it would be Florida, New York and California.
Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.
However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.
DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.
Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.
Maybe they put a couple of million in Nividea in their first and second years as equity partners.
Anonymous
09/17/2025 13:29
Subject: Net worth over $20 million
Here is what AI says:
Here's a breakdown of the available information:
Ultra-High-Net-Worth (UHNW): Defined as having a net worth of $30 million or more, the U.S. had 426,330 UHNW individuals in 2024, according to Altrata's World Ultra Wealth Report.
Households with $20 Million+ Investable Assets: A Reddit post from July 2025 cited 284,200 U.S. households with investable assets of $20 million or higher.
So, both could be correct...notice how the July 2025 post says 284,200 have investable assets of $20MM+. That likely excludes house equity, equity in private businesses, etc.
Here's a breakdown of the available information:
Ultra-High-Net-Worth (UHNW): Defined as having a net worth of $30 million or more, the U.S. had 426,330 UHNW individuals in 2024, according to Altrata's World Ultra Wealth Report.
Households with $20 Million+ Investable Assets: A Reddit post from July 2025 cited 284,200 U.S. households with investable assets of $20 million or higher.
So, both could be correct...notice how the July 2025 post says 284,200 have investable assets of $20MM+. That likely excludes house equity, equity in private businesses, etc.
Anonymous
09/17/2025 13:28
Subject: Net worth over $20 million
Anonymous wrote:Anonymous wrote:Anonymous wrote:It maybe feels low to you because I am sure the distribution is very clustered.
I bet 90% of those people live in only like 10 metro markets in the US.
Statewise, it would be Florida, New York and California.
Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.
However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.
DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.
Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.
Anonymous
09/17/2025 13:26
Subject: Net worth over $20 million
Anonymous wrote:Anonymous wrote:Anonymous wrote:There is no way that number is accurate. My modest retirement number is 20M in today’s dollars.
That’s what I’m saying. It has to be wrong.
lol
you need 800k - 1m/yr in retirement? I am all for asset accumulation but that's bonkers. I manage money for UHNW and most do not spend anywhere near 50-70k a month net in retirement.
OP here. I’m not saying you need that much for retirement, I’m just saying that way more than 280,000 people have $20million and over.
Anonymous
09/17/2025 13:21
Subject: Net worth over $20 million
Anonymous wrote:Anonymous wrote:There is no way that number is accurate. My modest retirement number is 20M in today’s dollars.
That’s what I’m saying. It has to be wrong.
lol
you need 800k - 1m/yr in retirement? I am all for asset accumulation but that's bonkers. I manage money for UHNW and most do not spend anywhere near 50-70k a month net in retirement.
Anonymous
09/17/2025 13:21
Subject: Net worth over $20 million
Anonymous wrote:Anonymous wrote:It maybe feels low to you because I am sure the distribution is very clustered.
I bet 90% of those people live in only like 10 metro markets in the US.
Statewise, it would be Florida, New York and California.
Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.
However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.
DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.
Anonymous
09/17/2025 13:09
Subject: Net worth over $20 million
Anonymous wrote:There is no way that number is accurate. My modest retirement number is 20M in today’s dollars.
If you have 20M in retirement, this is not a modest amount.
Anonymous
09/17/2025 13:07
Subject: Net worth over $20 million
Anonymous wrote:There is no way that number is accurate. My modest retirement number is 20M in today’s dollars.
That’s what I’m saying. It has to be wrong.
Anonymous
09/17/2025 13:06
Subject: Net worth over $20 million
Anonymous wrote:Anonymous wrote:OP here. Yes, I realize that these groups are probably clustered in certain areas, but I still don't think 280,000 people could be correct. It has to be way more than that.
Are you thinking that because of the number of 10 million dollar plus homes and apartments? Then you would have to include millions of foreign investors.
OP here. That might be part of it. I also grew up internationally (expat) so I guess I’m not only comparing myself with Americans, but people worldwide.