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Posted on 3/26/25 at 7:16 pm to SloaneRanger
not sure about that, if someone retired with $3 million in retirement by their mid 40s, their biggest monthly expense for the past decade is no longer a factor- saving for retirement
Posted on 3/26/25 at 7:29 pm to TigerintheNO
I would think 3M at 45 is doable, but I have 6.5M just in stocks and cash at 51 and still don’t feel comfortable. We live a fairly modest lifestyle, but we do have two in college. I thought the private school days were expensive. Having two in college at the same time is ridiculous. I think some of my fear is due to the 2008 crash and 2020 crash. I also fear losing purpose without something to do each day. I love to hunt, but not many friends would be available during the middle of the week. Anyway, the 3M is probably OK, but you could significantly improve your net worth with just a few more years.
Posted on 3/26/25 at 7:49 pm to PNW_TigerSaint
People who retire at 45 will generally go back to work in some capacity because they need something to do. Unless they want to play cards at the Senior Center.
Posted on 3/26/25 at 7:50 pm to Rebel12
I’m 44 and close to the number discussed in topic, my worry is not for me, I can easily manage that, but for what I can leave behind.
Posted on 3/26/25 at 8:00 pm to lsuconnman
quote:
OK, but that doesn’t change the fact that achieving that number still would require an individual to save double the median US income every year of their working life
But it does change it. I didnt save that much monthly but hit it due to much better than 6% returns.
Posted on 3/26/25 at 8:19 pm to notsince98
quote:
Then you are not discussing net worth. Net worth includes all assets and debts.
Did you read the entire sentence? Clearly your home is part of your traditional definition of net worth, but using home equity in your retirement calculation is asinine. Most financial firms don’t consider your primary home for FINRA suitability, for example.
Posted on 3/26/25 at 8:47 pm to lsuconnman
quote:
The topic is even sillier than the thread arguing the reasonableness of the $750k starter home.
Considering this board is dedicated to financial success, it amazes me how uncomfortable people get when topics like this are brought up. So uncomfortable that folks convince themselves people are lying, and cannot comprehend how someone could accumulate wealth quicker than the average population.
It's absolutely reasonable for white color jobs in big cities, blue color business owners, tech workers in startups or MAG 7, dentists, doctors, etc etc to have a $3M net worth by 45 or even sooner.
Posted on 3/26/25 at 9:25 pm to PNW_TigerSaint
Depends on what that net worth is composed of.
House and land worth 2.5 mil paid off? 500k cash invested would be tough to pay the taxes and bills and live comfortably even with social security payments. Doable, but have to budget carefully
500k in property and 2.5 mil in money invested conservatively? You’d be fine with a 5% return annually
I wouldn’t want to retire at 45 anyways. Unless I’m mega rich, I’d get bored as frick. Only way retiring that young is worth it is if money isn’t a factor and you can travel and do whatever whenever
House and land worth 2.5 mil paid off? 500k cash invested would be tough to pay the taxes and bills and live comfortably even with social security payments. Doable, but have to budget carefully
500k in property and 2.5 mil in money invested conservatively? You’d be fine with a 5% return annually
I wouldn’t want to retire at 45 anyways. Unless I’m mega rich, I’d get bored as frick. Only way retiring that young is worth it is if money isn’t a factor and you can travel and do whatever whenever
Posted on 3/26/25 at 10:45 pm to deltaland
If I had 3MM net worth today, I'd get 2 BTC in my possession and then 4% rule the rest. That's still 113K a year with no debt other than a CC bill. You can travel, and enjoy the simple things.
If BTC does what it is supposed to do, you may have 99 problems, but money ain't 1. You will be able to do what you want when you want and couldn't spend it quick enough.
If BTC does what it is supposed to do, you may have 99 problems, but money ain't 1. You will be able to do what you want when you want and couldn't spend it quick enough.
Posted on 3/27/25 at 5:46 am to PNW_TigerSaint
It is more of a lifestyle issue. As you succeed your lifestyle gets more expensive. You are able to do things you only dreamed of doing. You get used to that, Also Someone who is successful at 45 will be bored out of their mind if they fully retired.
I think the more appropriate question is if I have 3 million at 45, can I slow things down with work? Like another poster mentioned you do not want to retire, you just want to stop doing and putting up with the BS in your job.
Its a great feeling knowing your employer does not have control over you by using your paycheck as a weapon.
I think the more appropriate question is if I have 3 million at 45, can I slow things down with work? Like another poster mentioned you do not want to retire, you just want to stop doing and putting up with the BS in your job.
Its a great feeling knowing your employer does not have control over you by using your paycheck as a weapon.
Posted on 3/27/25 at 6:44 am to PNW_TigerSaint
But 3,000,000 net worth =/= 3,000,000 in the bank. If you have a home, vehicles, land, a business, etc. that make up a portion of that 3m then you aren’t drawing 120k off 4%. You would almost certainly need something to make some money off of, at least during down years in the market.
What you mentioned as a factor as well, even if you pull in 120k now, 120k is worth a hell of a lot less than it was even 10 years ago, so by the time you are 65, it’s going to be a modest income. It’s bold because there’s just too many factors. If you can accumulate a 3m net worth by 45, you are probably still in the peak of your income years, so you might as well at least work until 50 and build a bigger cushion.
What you mentioned as a factor as well, even if you pull in 120k now, 120k is worth a hell of a lot less than it was even 10 years ago, so by the time you are 65, it’s going to be a modest income. It’s bold because there’s just too many factors. If you can accumulate a 3m net worth by 45, you are probably still in the peak of your income years, so you might as well at least work until 50 and build a bigger cushion.
Posted on 3/27/25 at 7:30 am to Boomer Rick
quote:
I think people focus on the wrong thing- total retirement.
That's the scenario though (at least as I read it).
Posted on 3/27/25 at 7:32 am to Tigerfan14
My wife and I are hovering close to the $3MM net worth at 41/35, but we have lots of expenses and have kids under 5 so I plan to keep working. If either of us gets laid off we would definitely have to cut back on some things. I always joke that if I got laid off, I would take a cushy job with the state and ride it out till I hit certain pension milestones and retire. I also love my job and my routine so I would be hard pressed to want to retire before my kids start college.
Before all the "not possible" we are both petroleum engineers w/ good companies that match 401k's, give good bonuses and stock grants. We should be closer to $4MM but I partied way too hard before we got married. I spent some time working overseas and stashing money in the market (09-13). I have done well on a couple of real estate deals.
Before all the "not possible" we are both petroleum engineers w/ good companies that match 401k's, give good bonuses and stock grants. We should be closer to $4MM but I partied way too hard before we got married. I spent some time working overseas and stashing money in the market (09-13). I have done well on a couple of real estate deals.
Posted on 3/27/25 at 8:12 am to PNW_TigerSaint
quote:Obviously lifestyle is determinative. Whatever that lifestyle is, can you do it on ~$120K/yr? If so, it would be enough to retire.
For those saying $3MM net worth at age 45 would not be nearly enough to retire...
Posted on 3/27/25 at 8:27 am to NC_Tigah
quote:
Obviously lifestyle is determinative. Whatever that lifestyle is, can you do it on ~$120K/yr? If so, it would be enough to retire.
Travel and dining out is important to me. Can't do that to the level I'd like on 120.
Posted on 3/27/25 at 8:41 am to Billy Blanks
We all have our number. To keep my taxes in the 12% bracket I'll wand to keep us at $11-$12k a month for total income.
We're homebodies when we aren't traveling so our COL at home won't be bad at all and will allow us to do the 2-3 trips a year we want to do comfortably.
If we spend a good portion of the year in Spain it will be easier as the COL there is aobut 40% less than in the US.
We're homebodies when we aren't traveling so our COL at home won't be bad at all and will allow us to do the 2-3 trips a year we want to do comfortably.
If we spend a good portion of the year in Spain it will be easier as the COL there is aobut 40% less than in the US.
Posted on 3/27/25 at 10:04 am to SloaneRanger
quote:
For someone with a $3mm net worth in their mid 40s, I suspect they are looking at a sharply reduced standard of living.
How do you figure? I was that person and the reason I got to $3mm in my mid 40's was because I was sacking away every fricking penny I could. I didn't live like a hermit or anything, lots of vacations (using points and miles), eating out, splurge on something here and there no problem. Our cars are 9 and 6 years old. Living in Hawaii, traveling every 2-3 months and don't spend close to $120k a year. We're not going to change more up or down, we've been doing what we like and putting money away. I will say we don't have kids and that's obviously a big difference to some folks situations, but even with kids if you need $120k/yr right now to live on it seems you're living well above your means or you're earning enough money to be able to do that and it's still pretty surprising to me to drop $10k a month (damn kids)
Posted on 3/27/25 at 10:07 am to VABuckeye
quote:
To keep my taxes in the 12% bracket I'll wand to keep us at $11-$12k a month for total income.
Planning on doing Roth conversions starting next year and keeping to that 10-12% bracket.
quote:
If we spend a good portion of the year in Spain it will be easier as the COL there is aobut 40% less than in the US.
Likely will be living in Spain by the end of this year or early next year. Health insurance not bad pricing either, plus my wife is EU so she's "free".
Posted on 3/27/25 at 10:10 am to Sho Nuff
Where are you looking? We are thinking Costa del Sol probably around Alicante. 
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