Anonymous wrote:43.

HHI approximately 800 K

Net worth 12 million. (My wife brought a lot of that with her.)

Plus, government pensions from previous jobs.

12 flipping million? Trust fund?

43.

HHI approximately 800 K

Net worth 12 million. (My wife brought a lot of that with her.)

Plus, government pensions from previous jobs.

age: 41
HHI: 500k
Equity in primary residence: 2m
cash/liquid asset: 500k
retirement: 800k

total NW: a little more than 3m

Is there anybody with a NW less than $1 million? Seems not according to DCUM.

HHI- 2-2.2 million. Age 45. NW: $7.5 million.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Who are you people? And I thought we were doing well! Wrooooooong!

I know right?!?

We just met with our financial advisor last week who ran all these reports for us, and said at the rate we're going we are in the "comfort zone" for retirement. We have nowhere near what these people are reporting! (and by nowhere near I mean WAY less than 1M).

10M net worth. Mind boggling for an ordinary schmoe like me.

But how much do you make? If you make 50K, 10M is mind boggling. If you make 500K and you're 55, not so impressive.

11:59 here.

HHI 220K

Anonymous wrote:18:09, you will need about $260,000 in retirement just for medical costs for you and your spouse.

We are done with mortgage and saving for college, but even excluding saving for retirement, we spend $10K a month easily.

This is 18:09. Curious, other than medical, what are your expenses? How old are you? I assume the $260k figure is medical costs spread for say, a 30-yr retirement period? This is something I'm really struggling to figure out right now because given our current retirement egg and ages, we could arguably afford to cut back a bit in the savings department. But there's a huge fear of the unknown factor. My parents have said they spend far less than they expected, but they have pretty good health care (from the good old days of pensions).

18:09, you will need about $260,000 in retirement just for medical costs for you and your spouse.

We are done with mortgage and saving for college, but even excluding saving for retirement, we spend $10K a month easily.

Married 34/33

350k HHI

395k 401k
30k Roth IRA
25k 529 Plan
150k Liquid Investments
90k Cash
140k Rental Property Equity
210k Primary Home Equity

I guess about $1.04 million net worth.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Who are you people? And I thought we were doing well! Wrooooooong!

I know right?!?

We just met with our financial advisor last week who ran all these reports for us, and said at the rate we're going we are in the "comfort zone" for retirement. We have nowhere near what these people are reporting! (and by nowhere near I mean WAY less than 1M).

10M net worth. Mind boggling for an ordinary schmoe like me.

But how much do you make? If you make 50K, 10M is mind boggling. If you make 500K and you're 55, not so impressive.

$10M is a pretty good sized pile at 55 with a $500K income.

You're supposed to have 25 times your annual income at retirement.

LOL. That metric isn't designed for an income of 500k

If you have 10m you can spin off 300k-400k without touching much, if any, principal.

Saving 10M is no small achievement.

I don't even think that metric is designed for most people with six-figure incomes. When I look up my 401k's retirement calculator, it tells me that I will need $10k+ a month in retirement. It's basing that off my current income of $150k. But I can't imagine spending that much for most of my retirement years. All our major expenses - mortgage, saving for college for kids, saving for retirement, will be done. I can see wanting some extra to be able to gift to the kids, but that's not what I will "need" in retirement.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Who are you people? And I thought we were doing well! Wrooooooong!

I know right?!?

We just met with our financial advisor last week who ran all these reports for us, and said at the rate we're going we are in the "comfort zone" for retirement. We have nowhere near what these people are reporting! (and by nowhere near I mean WAY less than 1M).

10M net worth. Mind boggling for an ordinary schmoe like me.

But how much do you make? If you make 50K, 10M is mind boggling. If you make 500K and you're 55, not so impressive.

$10M is a pretty good sized pile at 55 with a $500K income.

You're supposed to have 25 times your annual income at retirement.

LOL. That metric isn't designed for an income of 500k

If you have 10m you can spin off 300k-400k without touching much, if any, principal.

Saving 10M is no small achievement.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Who are you people? And I thought we were doing well! Wrooooooong!

I know right?!?

We just met with our financial advisor last week who ran all these reports for us, and said at the rate we're going we are in the "comfort zone" for retirement. We have nowhere near what these people are reporting! (and by nowhere near I mean WAY less than 1M).

10M net worth. Mind boggling for an ordinary schmoe like me.

But how much do you make? If you make 50K, 10M is mind boggling. If you make 500K and you're 55, not so impressive.

$10M is a pretty good sized pile at 55 with a $500K income.

You're supposed to have 25 times your annual income at retirement.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Love reading these. The only people who respond want to tell us that they're 35 and have "only" $3 million and they feel okay about that but know they could be doing better. Love it. I guess the readers who are 35 with a net worth of 67k aren't going to chime in -- or maybe they don't calculate their net worth all that often.

+1 I don't even believe most of this stuff. There's no way relatively young adults can amass the kinds of money posted in these threads on their own. To the extent any of it's true, they always seem to leave out daddy's or grand daddy's contribution to their bottom line.

Np. Really? I don't think most people would think 3 million is that rich or impressive. I don't find it hard to imagine someone who makes $500k having saved that much. It's chump change for truly rich people.

Lol, you live a sheltered and privileged life, with apparently no self-awareness. A great combination.

Here in the real world, "most people" in the United States have a NW of less than $50k, so yes I think most people would think $3M is rich.

Anonymous wrote:

Anonymous wrote:Love reading these. The only people who respond want to tell us that they're 35 and have "only" $3 million and they feel okay about that but know they could be doing better. Love it. I guess the readers who are 35 with a net worth of 67k aren't going to chime in -- or maybe they don't calculate their net worth all that often.

+1 I don't even believe most of this stuff. There's no way relatively young adults can amass the kinds of money posted in these threads on their own. To the extent any of it's true, they always seem to leave out daddy's or grand daddy's contribution to their bottom line.

Np. Really? I don't think most people would think 3 million is that rich or impressive. I don't find it hard to imagine someone who makes $500k having saved that much. It's chump change for truly rich people.

Nanny. 41. 70k year. $425k net worth but it's all tied into my condo (paid off). No retirement.