We make $300K/year now. Right now we have $1.2m saved not counting our house (or the kids' 529s) and my husband hopes to have $2m when we retire. He says that would give us $100,000 a year in interest to live on, plus his pension. I don't know what a good target amount really is - but our house will be paid off in 3 years (I'm 42). Our house is worth appx. $900K rn.

Anyway - I am not using a financial advisor [yet]. I am not opposed to it but I am trying to read what I can for free first. I recently read I will teach you to be rich by Ramit Sethi.

Anonymous wrote:We are about that age with a similar NW. 1M is in 401ks, some is in liquid cash, and about 350k is home equity.

We don't have an advisor. Never felt the need for one. We have been very happy with our mix of index funds.

We plan on retiring at regular retirement age with a considerable nest egg and pension to fund our lifestyle. Not sure why everyone is freaking out about you being behind. But, some people will never ever have enough.

This

We are about that age with a similar NW. 1M is in 401ks, some is in liquid cash, and about 350k is home equity.

We don't have an advisor. Never felt the need for one. We have been very happy with our mix of index funds.

We plan on retiring at regular retirement age with a considerable nest egg and pension to fund our lifestyle. Not sure why everyone is freaking out about you being behind. But, some people will never ever have enough.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does that include your home? If so, you need to aggressively save. No need for a financial advisor right now.

+1. If home asset is included you are really behind.

Behind whom? In what world? Are you delusional?

A few million doesn’t go far these days. $5M is somewhat comfortable but still need to work.

On average, Americans between the ages of 40 and 49 have $105,500 in their 401(k)s as of the first quarter of 2023, according to Fidelity Investments data provided to CNBC Make It. However, the median account balance is much lower at $34,100, meaning half of accounts hold more money and half hold less.

Get a GRIp

DMV is no average America. Know where you live.

+1

Like the person who gets full time retainer paid under the table, for over a decade, including benefits for the whole family, claiming they have "no income" - because they are are so fricking entitled, and think they are "owed" what people who have an actual 9-5 have. GTFOH. Y'all need an authentic reality check re: money.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does that include your home? If so, you need to aggressively save. No need for a financial advisor right now.

+1. If home asset is included you are really behind.

Behind whom? In what world? Are you delusional?

A few million doesn’t go far these days. $5M is somewhat comfortable but still need to work.

On average, Americans between the ages of 40 and 49 have $105,500 in their 401(k)s as of the first quarter of 2023, according to Fidelity Investments data provided to CNBC Make It. However, the median account balance is much lower at $34,100, meaning half of accounts hold more money and half hold less.

Get a GRIp

DMV is no average America. Know where you live.

Ok, the average balance in the DMV is $220,000 and the median is $105k. Does that change the point made??

Good context if you are $52k/yr median income earner and feel comfortable.

Are you ignorant or trolling? Most people who earn $52k/year don’t have 401ks. So they aren’t even included in those stats. There is no way to look at OP’s situation and decide she is behind, unless she’s making $750k/year and way undersaving.

I think most people in the real world even in DC would be delighted with that net worth. This particular board is an outlier.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does that include your home? If so, you need to aggressively save. No need for a financial advisor right now.

+1. If home asset is included you are really behind.

Behind whom? In what world? Are you delusional?

A few million doesn’t go far these days. $5M is somewhat comfortable but still need to work.

On average, Americans between the ages of 40 and 49 have $105,500 in their 401(k)s as of the first quarter of 2023, according to Fidelity Investments data provided to CNBC Make It. However, the median account balance is much lower at $34,100, meaning half of accounts hold more money and half hold less.

Get a GRIp

DMV is no average America. Know where you live.

Ok, the average balance in the DMV is $220,000 and the median is $105k. Does that change the point made??

Good context if you are $52k/yr median income earner and feel comfortable.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does that include your home? If so, you need to aggressively save. No need for a financial advisor right now.

+1. If home asset is included you are really behind.

Behind whom? In what world? Are you delusional?

A few million doesn’t go far these days. $5M is somewhat comfortable but still need to work.

On average, Americans between the ages of 40 and 49 have $105,500 in their 401(k)s as of the first quarter of 2023, according to Fidelity Investments data provided to CNBC Make It. However, the median account balance is much lower at $34,100, meaning half of accounts hold more money and half hold less.

Get a GRIp

DMV is no average America. Know where you live.

Ok, the average balance in the DMV is $220,000 and the median is $105k. Does that change the point made??

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does that include your home? If so, you need to aggressively save. No need for a financial advisor right now.

+1. If home asset is included you are really behind.

Behind whom? In what world? Are you delusional?

A few million doesn’t go far these days. $5M is somewhat comfortable but still need to work.

On average, Americans between the ages of 40 and 49 have $105,500 in their 401(k)s as of the first quarter of 2023, according to Fidelity Investments data provided to CNBC Make It. However, the median account balance is much lower at $34,100, meaning half of accounts hold more money and half hold less.

Get a GRIp

DMV is no average America. Know where you live.

Despite what everyone here is saying, an advisor can be worth it in some cases. If you don’t have a lot of experience, they can help you come up with a plan and a portfolio. Not everyone is going to spend hours reading bogleheads, and even if you do that, you can end up with more questions than answers. An advisor can help you push past that, get moving and keep you on track. If you are someone who will otherwise spend a lot of time obsessing over the alternatives, that can be helpful.

The idea of starting with a roboadvisor or a similar service could be a good one. I will say that my investments have done better since I talked to an advisor.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does that include your home? If so, you need to aggressively save. No need for a financial advisor right now.

+1. If home asset is included you are really behind.

Behind whom? In what world? Are you delusional?

A few million doesn’t go far these days. $5M is somewhat comfortable but still need to work.

On average, Americans between the ages of 40 and 49 have $105,500 in their 401(k)s as of the first quarter of 2023, according to Fidelity Investments data provided to CNBC Make It. However, the median account balance is much lower at $34,100, meaning half of accounts hold more money and half hold less.

Get a GRIp

This board is outta touch.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:1.4 (including house) at 44 IS behind

Behind what? It’s more than most people have at retirement age. You have no idea what OP’s situation or income is, so you have no idea go they are behind or ahead. You need to get out more if you think that is behind for most people. Sheesh

OP wants to retire at retirement age, so OP isn't "most people".

You are in for a rude awakening when you want to retire.

My retirement savings are in great shape. I’m sure OP will be in good shape as well.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:1.4 (including house) at 44 IS behind

Behind what? It’s more than most people have at retirement age. You have no idea what OP’s situation or income is, so you have no idea go they are behind or ahead. You need to get out more if you think that is behind for most people. Sheesh

NW of 1.4 mil at age 44 is behind. Which part is so hard to understand?

Surely you have better places to troll

Anonymous wrote:OP, most of the people replying to you don't have the type of money they claim to have.

We use Charles Schwab and have access to a financial advisor that we check in with quarterly. She's a CFP and gives us great advice.

We're 10 yrs older and have 10x the net worth. No financial advisor until we hit over $10m. You really don't need one at $1.4, esp now and if it includes a home