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Almost 160,000 federal civil service employees are now millionaires.
Posted on 2/24/25 at 9:52 am
Posted on 2/24/25 at 9:52 am
Bloated salaries and never losing your job does wonders for your retirement.
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Posted on 2/24/25 at 10:07 am to TigerB8
Already been discussed, but being a millionaire isn't really a big deal anymore. Suppose a federal employee has a spouse that also makes good money. That would allow that employee to max out their Thrift Savings contributions. Compound that interest for 30 years and it's pretty easy to be a millionaire.
Posted on 2/24/25 at 10:08 am to TigerB8
Old people with 401Ks see the value increase over time.
Sorry you don't have one.
Sorry you don't have one.
Posted on 2/24/25 at 10:10 am to TigerB8
So? It's all about how you invest. The average Exxon operator can also retire a millionaire.
Posted on 2/24/25 at 10:13 am to TigerB8
I would imagine it’s pretty hard to not be millionaire spending your entire career with the government
Posted on 2/24/25 at 10:16 am to Pelican fan99
I’m not so worried about regular government employees being a millionaire.
It’s the ones that make 200k and have a net worth between 60 mil and 260 mil that something fricky is going on.
It’s the ones that make 200k and have a net worth between 60 mil and 260 mil that something fricky is going on.
Posted on 2/24/25 at 10:22 am to TigerB8
This isn't based on salary. It is people who are investing in their 401k.
Posted on 2/24/25 at 10:23 am to Rize
quote:
I’m not so worried about regular government employees being a millionaire.
It’s the ones that make 200k and have a net worth between 60 mil and 260 mil that something fricky is going on.
Correct
Posted on 2/24/25 at 10:25 am to TigerB8
These people have been paying into retirement for 28 years. I would assume a large percentage of "professionals" regardless of employer are "millionaires" after paying into retirement for 28 years.
Posted on 2/24/25 at 10:26 am to TigerB8
A contribution of $850/month at 7% for 30 years would make someone a millionaire. In a dual income household, putting $850/month in isn't a stretch.
This post was edited on 2/24/25 at 10:29 am
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