How much have you stashed, what worked and what did not...
Do you feel you are or you are 'getting closer to be' ready for retirement?
30 replies (most recent on top)
42, 401k $1M. Real estate $2M equity, investments $1.4M.
2qm6, it must feel nice to have freedom
53 YO, about $5M net worth, $500k home equity, the rest about evenly split between retirement accounts and after tax investment accounts. If I make it to 15/55 I guess I’ll add a few hundred $k more but not sure I’ll make it that long. Married, 1 kid still in school, fat 529 account to pay for college.
Why am I still working? Good question.
2qhd+1nyaW3B8
Easy, health insurance. The only reason I am still working.
Why do people stay with these fat net worths
48 years old. $1.5M in 401K; $3M in stocks and funds and house and cars paid off. Haven’t checked the value of the pension recently. Only reason I am still working is because my wife has cancer and I need the health insurance.
I wonder if divorce trends have increased in recent years
Pension and 401k ~1M. 401k from additional employer $80k. Home equity 500k, no mortgage. 2 paid vehicles, 2 paid rental properties producing residual income. Spouse has additional 100k in 401k,, approx $100k in IRA’s/savings and a commercial investment that has risen significantly.
A lot of eggs in various baskets.
Retired before covid with about $2.8mm total
@2wxr I am 52, divorced in 2021, its a long and messy story but covid played an important part in it
I'm 65 and just a Gigolo with no money saved for retirement but have high hopes that one of the wealthy fuglys divorced from a XOM executive can support my current lifestyle until 100 or death........whichever comes first.
Most fascinating thing in this thread is all the divorces. I’m mid-40s with $3MM in liquid assets and no debt other than an 2% mortgage. Only thing keeping me married is wanting to retire early which probably can’t happen if I have to split those funds in half. Wonder how much COVID lockdowns influenced these 40-50 year old divorces?
44 yo divorced and remarried; $2M 401k, $400k brokerage, $130k Roth IRA, $350k 529 for 3 kids, $200k home equity. Not bad considering ex got ~$2.3M of her own. Too many ppl shove $ into home vs investing in higher return assets. Planning to retire at 55 barring some setback in next 11 yrs.
Retired two years ago at 65 with 34 years service in union position. 3 million 401k, 1.1 million lump sum, 1 million in other savings and paid off house. No complaints.
@hsy, the company didn't raise rates fir lump sum. Those rates are determined by law.
Mid 40's w/ $1.6M 401k, another $300k stuffed under the mattress, and $250k equity in the house. I'll be applying the IRS Rule of 55 when the time comes.
39YO... $270K in 401K, joined EM in 2022... $250K equity in the house, $90K in different investment accounts. Two toddlers, married.
Mid forties, $1.3M net worth, half way done paying my mortgage. Only about $750k in my retirement accounts, but I’ve figured out that this will already compound to what I need when I need it. As a result, I’m no longer maxing my 401k, just getting the match. I throw the remainder into an after tax investment account where I’m now trying to build a bridge to 59 1/2 for early retirement.
I am 59. My net worth is about $3MM and this includes the lump sum. I think I will be ready to retire without problems. Two kids, both have decent jobs and require no support. Divorced and renting right now.
I just earn and spend. I’m buddhist and not attached to things. I guess I hope Social Security is still running when I retire.
Retired last year at 55 (32 years service) with a little over $2.5 million in 401k and pension lump sum. Was CL25 at retirement.
Mid 50’s here, $220M and expect to get $35M bonus this year after I layoff more employees and send those jobs to KL and BTC to cut costs more. No plans to retire anytime soon, been on a good run, having fun, future’s so bright (for me), gonna need shades.
I have about 125 million, but not done yet
DW
Late 50’s here. All in, about $4 M net worth including the projected value of my lump sum. Fu:k XOM.
About 800k for when I retired a few months back. Would have had a million if they didn't take the match away and raise the interest rate on the lump sum that cost me about 100k...couldn't have retired at a worse time for financial reasons, but I'm glad I did. I hated my job at XOM more that I cared about money after the last couple years of lies and torture.
2M for me and that’s plenty for my lifestyle and all debt is paid
I'm 52. Single parent of 3. 30 years in. I have about 1M, had to sell my house as my income did not keep pace to pay increasing costs. 2 adult children require subsidies. I know people have it worse off but I'm not exactly rich. I should be by now. I have no debt. I rent a one bedroom apartment. I am also disabled so have been reluctant to jump ship as I need to make it. Cheers people. I have enjoyed my career here most of the time.
Just took the plunge at 56. Couldn't stand another PDS. 31 years and 2.5MM saved up. Did the math on several scenarios and all say I have plenty for our lifestyle with money leftover. Main house and vacation house paid for, two new cars, kids out of school and on their own. Good luck to everyone.
I am 52 and I recently joined. My condo has been paid off (about $500K) and I have about $750K in a mix of accounts (401K, IRA and regular investment accounts). I feel it'll not be enough but I am also counting on a decent inheritance as my parents have a valuable home (paid off) and I am a single child... Happily divorced, one teenage kid...
Start here:
https://www.cnbc.com/2023/06/03/fidelity-how-much-americans-have-in-their-401ks-at-every-age.html
Also, be very careful with 'average' and 'median' numbers here - imagine five of us averaging things and one of us i a billionaire, i'd mess the whole math up