re: 50% of Americana aged 45-54 have a $95K net worth or less

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Something to be said about saving but also enjoying life.

Personally know 4 people that saved very well, retired within the past 12 months and all have passed.

2 heart attacks
1 cancer
1 Natural Causes

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Yeah, that's why I'm not keen on running myself into the ground working up to retirement.

Yes, take time to do stuff now, too. None of it gets to go with you.

Those household income numbers are directly proportion to the number of 2 income households. Blacks divorce at rate more than 3x higher than Asian Americans.

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47 here, net worth close to $3 million. When I hit that number next year, I’ll retire.



I’m 43 and don’t think I could retire on 3 million that young. I’d be freaked out that I would run out of money and have to go back to work in my late 60’s.

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If you have $2mm invested at the fed rate you are pulling $90,000 with zero risk involved.

If the other million is invested in stock that produces passive income and he has SS etc. coming you should be way more than fine. You are gold.

Especially if he has no debt.

The key is debt folks. Debt.

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$10k/month with no kids and no mortgage

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It goes quick

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Throw in groceries and household essentials. And you are at $2500-3000 a month just to live.

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I'm sorry but some of you are crazy. Upperdecker says $10k a month is a lot and you reply with "it goes quick" and then outline $3k in spend. There's another $7k left! $10k a month DOES NOT go quick for any reasonable living responsible adult. FFS. I live in Hawaii and my wife and I travel every 2-3 months and don't spend $10k/month. We eat out when we want and splurge here and there on some item or whatever, but we're not dropping $120k a year.

People talking about $3mm being tight for a 47 yo what fricking world are you living in? If you're debt free and can't make $3mm last you 30-40 years you have a problem and its not the market or anyone else's fault. I just retired at 50 and I'm certainly not doom and gloom like some of these posts.

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can see both ways. In 20 years when I'm retirement age, my house would be paid off and worth upwards of $500K I'm sure. Say I have a health issue and am not as mobile as I once was, so I need to downsize, I'll have alot of equity to put up when I buy a smaller place in one of those swanky old people neighborhoods.

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Yeah I think the other guys point is that if you aren’t mobile, all you’ll be doing is sitting in that house every day. So, you shouldn’t be afraid to enjoy life a little while younger even if it costs a little.

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$10k a month DOES NOT go quick for any reasonable living responsible adult.

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We have two kids in college, a house payment, 2 car payments..even then, we don’t spend 10k a month.

Our household bills, including help for college kids (their rent, cell phones, car insurance) is right at 5k.

Add in groceries, entertainment, “pocket money”, grooming, etc and we are around 7500.


But we do live in a low cost area and our house payment is very cheap (but my truck isn’t, lol).

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I excluded it because unless you want to live in a van down by the river you have to have a roof over your head

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Yes but some people’s plans do include downsizing at some point. It’s not always feasible for some like they think it is, but some have homes that have appreciated a lot in value, basically paid off or will be, and are way more than they need.

If married do you have to divide by 2 ? Does this include retirement

At least they’re helping Israel expand!

Suckers!

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I'm sorry but some of you are crazy. Upperdecker says $10k a month is a lot and you reply with "it goes quick" and then outline $3k in spend. There's another $7k left! $10k a month DOES NOT go quick for any reasonable living responsible adult. FFS. I live in Hawaii and my wife and I travel every 2-3 months and don't spend $10k/month. We eat out when we want and splurge here and there on some item or whatever, but we're not dropping $120k a year. People talking about $3mm being tight for a 47 yo what fricking world are you living in? If you're debt free and can't make $3mm last you 30-40 years you have a problem and it’s not the market or anyone else's fault. I just retired at 50 and I'm certainly not doom and gloom like some of these posts.

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Our burn rate is high for family of four. I don’t even have car payments and blow through $10k. I’m still saving and investing and would cut some shite if I weren’t, but costs are insane now.

$2,500 Mortgage principal and interest on a house with a 50% equity position.
$500 utilities
$600 auto & home insurance
$1,000 property tax
$2,500 food
$3,500 tuition for 2 kids
$500 tutoring
$500 Kids sports

Summer we spend $10k on camps and tutors, and another $30k on annual travel.