re: Are you in the 1% club?

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If you think $800k is low net worth, you spend too much time on the OT or with your financial peers and don't realize how hard this is for most people in this country. Think about average non baller incomes.

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It's really not much if you spend within your means and save/invest consistently your whole life. It does not take much to accumulate $1million over a career if you start early and stay with it.

ETA- "net worth" does not mean you have that amount in cash. It the net worth of all your assets(house, cars, camps, guns, jewelry, savings etc etc...)-total debt. And it's hard to put a cash value on people with pensions. For example, you would have to have over $1million saved to produce $30,000/year income with current interest rates-assuming low risk investments.

Seems really low. Not even thinking about home equity, savings/checking accounts, I would imagine 401k accounts must be near that as long as you've been putting in there for 15-25 years. I've been putting 10% in my 401k for 5 years (28 years old) and already it's amazing how fast it piles up.

Live below your means, and invest 15% of your income. You'll have upwards of a million in 25-30 years.

Yes.

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This. Our politicians are constantly telling people how bad it is here, but we are far and away the richest country in the world. And it's there for anybody. In other countries, you CANNOT move up. Everyone still has the opportunity here. Some roads are rougher than others, but instead of bitching and whining, people should just shut the frick up and go EARN it.

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I've lived in several other countries including a few in the 3rd world and I could not agree more. Things like roads, nutrition, basic sanitation and basic human rights don't exist in vast parts of the 3rd world. I'm talking living in a shack with no running water, electricity, fridge, bathrooms, cooking facilities etc. The equivalent of this in the US is living in a bad neighborhood on social security, driving a beat up car and not having enough resources to afford cable. You still get enough to eat, a roof over your head, clean water, and the opportunity to get out of this hell.

It's actually hard to explain until you actually see the poverty for yourself. It will change you.

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It's actually hard to explain until you actually see the poverty for yourself. It will change you.

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Very true. Our "poor" cannot fathom how the rest of the world lives. In fact, they would get their arse killed for their shite in a large portion of this planet. Especially if the poors elsewhere knew they didn't work for it and bitched about it.

Yea I know I'm actually at 12% for the last 2 years.

In like Matt Flynn.

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Posted by Tigerstudent08

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So all your retirement has come from an artificially inflated stock market. You literally started investing at the dip in 2009 and are now riding recors highs.

You could say the same thing about most decades since the 1920s.