Anonymous
Post 07/26/2022 20:26     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
Polluter
Anonymous
Post 07/26/2022 20:01     Subject: Re:Is it normal around here to have 10 mil in assets by the time you retire?
Anonymous wrote:Very few will ever retire with $10+ in assets. Highly likely it’s less than 1%, maybe .05% or less. Some people make a lot of money, but they also spend a lot of money. If you are living OK on $100k, it would be ideal that your retirement income could replace that.


I for one plan to travel alot more so our retirement might cost double what our current expenses are.
Anonymous
Post 07/26/2022 19:14     Subject: Re:Is it normal around here to have 10 mil in assets by the time you retire?
Anonymous wrote:We were around $13M in net worth when Biden took office and have seen our investments lose over a million since then.


Too f—-ing bad! I’ve been an investor for almost 40 years and my returns have been better during Democrat administrations than Republican. And I’ve always voted Republican except Trump. I need to think about that.
Anonymous
Post 07/26/2022 17:37     Subject: Re:Is it normal around here to have 10 mil in assets by the time you retire?
Anonymous wrote:We were around $13M in net worth when Biden took office and have seen our investments lose over a million since then.


So.. your net worth went up by 20% to $15.6 and then you lost $3.6M or are you assuming that Biden took office in Jan 2022?
Anonymous
Post 07/25/2022 22:29     Subject: Re:Is it normal around here to have 10 mil in assets by the time you retire?
No, not normal. But not unusual, either.
Anonymous
Post 07/25/2022 22:13     Subject: Re:Is it normal around here to have 10 mil in assets by the time you retire?
Of course it’s not normal.
Anonymous
Post 07/25/2022 22:11     Subject: Re:Is it normal around here to have 10 mil in assets by the time you retire?
I am single, a business owner with $4mm net worth and feel like it's too early to retire at 44
Anonymous
Post 07/25/2022 21:41     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
Anonymous wrote:
Anonymous wrote:DH and I already have $53M in net worth and we’re 37 and 39 (Double Big Law).


Sorry you don’t have more. Keep at it though, little one. I’ve got about $229M saved and am only 22. Expecting to retire at 23 with $555B.


Whatevs. DH and I already have $∞M saved.
Anonymous
Post 07/25/2022 21:37     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
Anonymous wrote:DH and I already have $53M in net worth and we’re 37 and 39 (Double Big Law).


Sorry you don’t have more. Keep at it though, little one. I’ve got about $229M saved and am only 22. Expecting to retire at 23 with $555B.
Anonymous
Post 07/25/2022 21:34     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
DH and I already have $53M in net worth and we’re 37 and 39 (Double Big Law).
Anonymous
Post 07/25/2022 21:26     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Retired Fed. My magic number was $3 million. I made it and retired before age 60.


3M per spouse? So 6M?


Feds don’t have 6m combined with spouse. No.


We are at 7.2M and one of us was a fed and another one not.


Yes and Wayne Gretzky and his brother Brent hold the NHL record for most combined points by two brothers - 2,857 for Wayne and 4 for Brent.
Anonymous
Post 07/25/2022 21:21     Subject: Re:Is it normal around here to have 10 mil in assets by the time you retire?
We were around $13M in net worth when Biden took office and have seen our investments lose over a million since then.
Anonymous
Post 07/25/2022 21:13     Subject: Re:Is it normal around here to have 10 mil in assets by the time you retire?
Anonymous wrote:
Anonymous wrote:If you can save $100k a year for 30 years and it generates an 8% return what does that give you? Does that do it? Who’s good with a calculator? For most people to get to $10m requires saving a lot early on and benefiting from compounding. Or inherit a fortune or marry well!


Who TF can save 100k per year???


Uhm, we save ~$800k/yr and live near Woodridge. Just because you can’t doesn’t mean others can’t..
Anonymous
Post 07/25/2022 19:09     Subject: Re:Is it normal around here to have 10 mil in assets by the time you retire?
No
Anonymous
Post 07/25/2022 19:08     Subject: Is it normal around here to have 10 mil in assets by the time you retire?
No. We make 150k a year.