Anonymous wrote:

Anonymous wrote:I came from a middle class family

Is that bad or good? I'm an immigrant who waited 10 years for work permit working minimum wage jobs. Once I got the papers, it only took me 15 years to get rich on slightly above minimum wage.
Opportunities are passing you buy every day. You can't see them.
I could get to a million starting with $5k within ten years.

I love all these snake oil trolls. I feel like I’m at a vaudeville carnival.

Anonymous wrote:When my mom died, she left $50,000 to split with my brother.

Today my net worth is $14M.

The American dream is still alive.

What was your path to success? Are you a doctor?

This is such a dcum thread.

I think my parents net worth is probably cllose to zero. They are in their 90s. My sibling owns their house and they live rent free. I think they still have a little from selling their previous house but probably not much. Could be anywhere between $5 and $200,000 but I would guess closer to $5. They don’t own a car or anything valuable like jewelry or art.

$22 million in their 80’s, it’s all they talk about, and they live very low key in a low COL area. House is probably worth $200,000 max.

My mother was a retired teacher when she passed away. There wasn't much in her estate though she had a small life insurance policy she had maintained that went to me.

My mom is 87. Right now, her net worth is right about 7 million. She is in independent living plus owns a 1 million dollar home in Florida. So 8 million. She has a retirement annuity that my dad bought them 25 years ago that pays a considerable amount per month. Plus social security. Plus a couple hundred a month from a pension plan my dad had one time. Total annual income is usually about 250K. Total expenses are much less.

Her total

Around $5M in their 60s, with a paid of house worth $2M (a modest home in coastal CA). My parents are frugal immigrants who didn't start saving until their late 30s, never made more than $200K HHI living in a VHCOL area, and invest very conservatively.

Prob about $25M. I’m not anywhere close and never will be.

I really don’t know but it must be a lot. Their two homes are worth $8 million per Zillow and they don’t have a mortgage.

Anonymous wrote:My mom when I applied to college had a net worth of zero. Her income was around $8,900.

Back then FASFA deducted $3,000 per kid in college. I had two older siblings in college

On FASFA I reported zero assets, zero income. My HS Guidance Counselor was telling me I had the Golden Lottery ticket. A zero - zero FASFA. I got all four years 100 percent free!!

No money is as good as some money but a lot of money is best.

This was me. In 2000 when I filled out the FAFSA, I remember that Mom’s income was about $12,000. EFC was approximately zero, so my in-state tuition was covered with aid and grants.

Now Mom’s net worth is somewhere around $600.00. She still works.

Last parent died in 2016. NW was around $500k - half house and half savings. Federal GS 14 retiree. Split two ways.
Last in-law parent died in 2013, NW was about $360k. 2/3 in inherited IRA, 1/3 in cash. Split 4 ways.

My mom is 71, has about 50,000 liquid, 150,000 in equity, collecting a small SS and still working.


Wish I knew about investing when I was in college, she would probably have more than double.

My siblings and I help her out with some bills but really wish she stopped working.

$3k

At retirement, they had $2.5M
Now they have $3M and paid off the house
They are estimating they will die with $4M

My mom when I applied to college had a net worth of zero. Her income was around $8,900.

Back then FASFA deducted $3,000 per kid in college. I had two older siblings in college

On FASFA I reported zero assets, zero income. My HS Guidance Counselor was telling me I had the Golden Lottery ticket. A zero - zero FASFA. I got all four years 100 percent free!!

No money is as good as some money but a lot of money is best.