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Sooo AMC.. who’s in?
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Mentor
It depends, liquid or net worth? Based on the model, we should have a NW of $10M by 2032-2033 (41/45)… liquid around 2037-2038 (46/50)… could shave a year or two off of that… it depends on my income…
I’m Wealth Management… my wife is a Market Executive for one of the Big 4 Banks… HHI >$1M… N Dallas/Plano…
65, biglaw, had loans and no family help. Spouse makes ~150k. NYC
65 is so long to hit that number unless you’re really spending just a huge amount every year.
I’ll reach it at 50, and I should hit $20 million by 60.
With inflation, that $20 million will only have the purchasing power of about $10 million today.
If you are assuming 7% annual growth over 10 years, that already includes inflation imo
Coach
Already there - late 50s and in the process of retiring. Big 4 public accounting.
P2 - no, probably not. Retiring earlier when my kids were younger would still not have given me the freedom I want from retirement. It's never been about the money.
50ish. At $7M now. Planning to retire at 54 for the pension. Management consulting.
I will reach at 50. Public accounting.
Seem like there are a lot of people on here who think 10M is very realistic.
It’s very realistic for a lot of the people here if you don’t actually retire early 😛
Subject Expert
I would hit it before normal retirement age if my career goes typically and I don't change my spending and stock market returns are typical.
In reality, though, I will doubtless have retired before then. :)
If inflation doesn’t slow down. I’ll hit it pretty quick but it won’t increase my buying power much.
Mentor
If it’s mostly invested, even a 60/40 portfolio averages around 5-6%… if inflation falls back to its long term average of ~2%, then you have a delta of 3-4%… so an extra $300K-$400K is a free Ferrari every year… 😂
Unfortunately, I won’t hit $10M until 61-62. Still at $5M-ish at 53 😔
Hit it around 45-46 yo
Well, assuming nothing to distract happens to the market, I could hit it by age 58. But it might be closer to 60.
40 yo. At 6 now. At 10 now when counting partner. We plan to work another 1-2 years to hit 12 together. Consulting.