Anonymous wrote:I'm 60, single, have a $7 million trust, no debt and no wife to support, life is OK. Yeah I'm bragging too. But I worked until I was 55 and still had enough to retire before I received the trust.

Hope the money keeps you warm abd provides great company in your old age.

Anonymous wrote:For a newbie with 50 K saved, where to start investing since interest rates on CD's are still so low?

In general there are two answers: 1 save your pennies and watch it grow over a few decades. 2 increase your income.

I know friends who in their early 40s have very large 401k and together with their house would be over a mil. But this took 15-20 years of working and saving.

If you want to get there faster or with fewer sacrifices, you need to figure out how to increase your income through work, business, or investments.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:One million is certainly a milestone but it's not really a big thing to celebrate about. One million dollars doesn't go very far these days.

No question...I'm almost 50 now though and have about $5 million net if we include real estate and my joint assets with my husband. I'm pretty comfortable with that

That's great!

We are both 45, around 2.5M net worth everything included, and HHI is going up steadily so with luck we may reach your cool 5M by 50

Keep plugging away. Live frugally. Save whenever you can! Good luck!

Anonymous wrote:

Anonymous wrote:One million is certainly a milestone but it's not really a big thing to celebrate about. One million dollars doesn't go very far these days.

No question...I'm almost 50 now though and have about $5 million net if we include real estate and my joint assets with my husband. I'm pretty comfortable with that

That's great!

We are both 45, around 2.5M net worth everything included, and HHI is going up steadily so with luck we may reach your cool 5M by 50

I prefer the quick bragging. It's better than the humble brag!

For a newbie with 50 K saved, where to start investing since interest rates on CD's are still so low?

Based on CPI, $1 million in 1966 ~ $7.45 million today.

I had over $1million saved at 55 and $500k+ home equity but still figured on working til 62 or 65. My parents died and being lucky to get $2m from them I took an early out at 58 with $4m+ in savings/ investment (about $4.9 mill now) and ~$700k in home equity.

It's not "F U money" but it's a very comfortable place if one doesn't go crazy on spending.

Anonymous wrote:One million is certainly a milestone but it's not really a big thing to celebrate about. One million dollars doesn't go very far these days.

Ignore this poster, OP. He/she obviously is a killjoy, and either doesn't know or doesn't care that the median net worth of Americans who are 35-44 is only about $35,000.

Congratulations!

Anonymous wrote:One million is certainly a milestone but it's not really a big thing to celebrate about. One million dollars doesn't go very far these days.

No question...I'm almost 50 now though and have about $5 million net if we include real estate and my joint assets with my husband. I'm pretty comfortable with that

One million is certainly a milestone but it's not really a big thing to celebrate about. One million dollars doesn't go very far these days.

congrats!

Anonymous wrote:

Anonymous wrote:Do these net worth figures include your homes?

No idea what previous PPs have included, but net worth certainly includes the equity you own in your home.

Yes, this. NP here. My personal goal was to pass a million in assets excluding my home before I was 40 and excluding anything from my husband. Just my own goal, tho.

Anonymous wrote:Do these net worth figures include your homes?

No idea what previous PPs have included, but net worth certainly includes the equity you own in your home.

Do these net worth figures include your homes?

Anonymous wrote:50 and just crossed $5M. I know how you feel. No one to tell other than the DW. Feels very good though.

Wow. What do you do?