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3morereps
Georgia Fan
The Gym
Member since Jun 2015
5778 posts

Age you reached $500,000 and $1MM net worth
I am 32 and almost to half millionaire status. I am curious where everyone else is and when they eclipsed above figures
This post was edited on 11/12 at 10:58 am


iluvredboxx
LSU Fan
Lafayette
Member since Mar 2012
670 posts

re: Age you reached $500,000 and $1MM net worth
Don’t recall 500,000, but 44 for 1m


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100
jimbeam
USA Fan
University of LSU
Member since Oct 2011
57897 posts
 Online 

re: Age you reached $500,000 and $1MM net worth
25 and just crossed into 8 figures for the first time. First 5M or so was pretty tough but after that it was smooth sailing.


The Easter Bunny
Georgia Tech Fan
Minneapolis
Member since Jan 2005
44239 posts

re: Age you reached $500,000 and $1MM net worth
Would have hit both a lot sooner if I hadn't married (and divorced) my first wife. Probably going to push by nearly a decade


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60
OleWarSkuleAlum
Alabama Fan
Member since Dec 2013
8226 posts

re: Age you reached $500,000 and $1MM net worth
Is it $1MM free of trust or still in trust?


saderade
New Orleans Saints Fan
America's City
Member since Jul 2005
23710 posts

re: Age you reached $500,000 and $1MM net worth
Home equity included?


OleWarSkuleAlum
Alabama Fan
Member since Dec 2013
8226 posts

re: Age you reached $500,000 and $1MM net worth
Your home is a perpetual liability


Upperdecker
LSU Fan
St. George, LA
Member since Nov 2014
20109 posts
 Online 

re: Age you reached $500,000 and $1MM net worth
quote:

25 and just crossed into 8 figures for the first time. First 5M or so was pretty tough but after that it was smooth sailing.

Gotta pump those numbers up baw, those are rookie numbers


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220
bayoudude
LSU Fan
Houma
Member since Dec 2007
19872 posts

re: Age you reached $500,000 and $1MM net worth
Broke 7 figures at 34


lynxcat
Rutgers Fan
Member since Jan 2008
20745 posts

re: Age you reached $500,000 and $1MM net worth
quote:

I am 32 and almost to half millionaire status. I am curious where everyone else is and when they eclipsed above figures



You should know that these threads are frowned upon on the board


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USA
Member since 2001
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deeprig9
Georgia Fan
Member since Sep 2012
36803 posts

re: Age you reached $500,000 and $1MM net worth
Im 41 and you can kiss my ass, bitch.


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290
chryso
Member since Jul 2008
7585 posts

re: Age you reached $500,000 and $1MM net worth
Sorry, I think I may have stumbled into the OT.


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340
3morereps
Georgia Fan
The Gym
Member since Jun 2015
5778 posts

re: Age you reached $500,000 and $1MM net worth
quote:

Home equity included?


Yes


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11
nugget
LSU Fan
Member since Dec 2009
9366 posts
 Online 

re: Age you reached $500,000 and $1MM net worth
quote:

Your home is a perpetual liability


Terrible. Many, many people start business with the equity they’ve built in their home.


3morereps
Georgia Fan
The Gym
Member since Jun 2015
5778 posts

re: Age you reached $500,000 and $1MM net worth
quote:

You should know that these threads are frowned upon on the board


I did a balance sheet today, and it was a big deal to me, sorry for being excited. This is an anonymous forum
This post was edited on 11/12 at 4:50 pm


lynxcat
Rutgers Fan
Member since Jan 2008
20745 posts

re: Age you reached $500,000 and $1MM net worth
quote:

I did a balance sheet today, and it was a big deal to me, sorry for being excited. This is an anonymous forum



To be clear, I don't have any issue with the question. While this board loves to provide feedback on making good financial decisions, I've generally found that the downvotes rain whenever someone posts about significant financial success that could be perceived as braggadocios.

As best I can tell, posters believe $500K+ in net worth by ~30 is bull shite and/or such a long-tail example that it is only to brag.

Including equity, it puts someone in the 96th percentile+ so it isn't impossible but it's out of bounds for the vast majority of folks.

Net Worth by Age Percentile Calculator

FWIW, congrats on the achievement. It's a great accomplishment.
This post was edited on 11/12 at 5:23 pm


Big_Sur
Auburn Fan
Member since Nov 2012
886 posts

re: Age you reached $500,000 and $1MM net worth
I think there is an underlying assumption that the success story needs to be self-made (whatever that is). That 4% is mostly people who inherited or married into it. The tension between the "earned it" and "inherited it" factions and how they're defined isn't limited to just TD.


OleWarSkuleAlum
Alabama Fan
Member since Dec 2013
8226 posts

re: Age you reached $500,000 and $1MM net worth
quote:

Terrible. Many, many people start business with the equity they’ve built in their home.


Factor in the lifetime of property taxes, utility bills, and maintenance costs.


LSURussian
LSU Fan
9 acres of paradise in Baton Rouge
Member since Feb 2005
117311 posts

re: Age you reached $500,000 and $1MM net worth
quote:

Factor in the lifetime of property taxes, utility bills, and maintenance costs.
Renters pay all of those expenses, too, included in their rental payments.

Or in the case of utilities not included in their monthly rent, they pay utility costs separately just like a homeowner does.


OleWarSkuleAlum
Alabama Fan
Member since Dec 2013
8226 posts

re: Age you reached $500,000 and $1MM net worth
quote:

Renters pay all of those expenses, too, included in their rental payments.


I never made a statement about renters.


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