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Decided to payoff my mortgage.
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$1m: 33
$2m: 35
$3m: 36 (on my birthday no less)
$4m: 37
$5m: 37
$6m: 40
$7m: 40
Took me a while to get to the first million, but then higher pay and great market performance helped move things up quickly. The market now dictates more than my pay or savings.
Are you including your home in net worth?
To anyone reading this, please make sure you’re grounded in statistics. Go to DQYDJ or a similar site to understand age/state peers. You are very likely NOT behind
Totally agree, that’s why I said grounded :)
I’m at $1.5m at 31M, and know I’m driving towards higher (like some of these posters), but it’s sitter important to keep perspective that this is top 1-3% representation.. especially since people in FIRE tends to tie net worth to self worth :)
Net worth of $1M at 33yo, $2M at 38yo (current age). I work in technology consulting and services. Made director at age 32 or 33yo. Single income, 2 kids, saved fairly aggressively 15-20% of income to retirement since I started my career. Extra savings to college, down payment, etc. On top of that.
Coach
Dang all the Slalom folks are hitting 1M in their early 30s. Love to see it. I hit 1M at 31 and am on track for 2M by 35 or so.
$1M - 31
$2M - 33
$3M - 35
$4M - 36
$5M - 37
Probably time to leave the rat race soon though
Are you a PPMD?
Mentor
$1M at 31
$2M at 33 (made partner at 32)
$3M at 34
$4M at 35
$5M at 36
$6M at 37
$7M at 38
Now $8M at almost 39.
Been in consulting since 21 and quit a year ago to pursue other things and to spend more time with family. Single income to support spouse and 2 kids, paid off all mortgages, car/education loans, etc before pulling the plug.
Mentor
Probably 60-80% due to savings. I was also making anywhere from $900k-$1.6M each year depending on how much I sold, so that helps to boost it.
Combined with spouse:
1M - 41
2M - 43
3M - 45
4M - 46
Now at 4.7M
Hoping to pull the plug in the next 5 years
Impressive, what level at McK?
Taking into account my equity in my home, rental and all types of accounts, my networth is about 4M at age 51. I am married, but that’s just mine. I was an aggressive saver as well all my life, but less so the last couple years
No need to attack her or make it a men vs. women thing. It was only a joke. It could also be true her husband has a lot of money and she considers that his money.
Around $1.5M at 35. $300k home equity, $500k investment property, and $700k in the stock market.
$1 M: 29
$2 M: 33
Shared net worth with husband. We hustled in our 20s and bought and fixed up multi-families. A lot of our net worth is in investment property equity.
$1m: 29
$2m: 32
$3m: 33 (about 19 months after $2m)
Checks out.
($0.1): 30
$1M: 34 (with inheritance)
$2M: 38
$3M: 41
1m at 40
2m at 44
3m at 46
MCOL, numbers seems less great than others here. But, I’m retired now and pretty stoked.
Our strategy was to save money, for me to make more money consistently so I switched companies a few times. My hubby has a blue-collar job for the federal government and he was able to be there with the kids after school, substantial savings because no day care cost. Also he has really great health insurance.
We maxed all of our contributions that we could. we maxed our Roth every year that we qualified and now still back door Roth. We also set up automatic contributions to our taxable accounts in Vanguard so we’re just constantly dollar cost averaging the market.
Combined.
$1M: 34
$2M: 35
$3M: 37
$4M: 38
Currently at $4.6M. Net worth is combined with spouse.
Makes sense and still a very early retirement vs the average
Consulting- had not planned on making it to managing director.
I have the corp income- spouse has focused on our rental portfolio (which is not in the numbers below) and primary care for our kids. these are investment (stocks/bonds 401k only). We do live in a HCOL city.
$1M at 41
$2M at 46
$3M at 48
$4M at 50
$5M at 51
And yes, retirement is on the near term horizon.
Congrats! Hope you have some post retirement hobbies lined up
1M- 36
2M-39
Currently 2.1M. Due mostly to salary increase at 33 and good savings rate
$1M: 32
$2M: 35
$3M: 37
This is inspiring yet I m curious - should you really take into consideration of the money in the stock market and your home equity ( which you still pay mortgage on) as part of your NW?
What’s your investment strategy to get to the first million
Yes. That’s part of how net worth is calculated by definition. You also consider outstanding debts including mortgage.
Investing more than you earn and avoiding lifestyle creep, while maximizing match, risk tolerance, etc.
“first million is the hardest” is just because until that point the average income is accruing wealth faster than the wealth itself grows through compounding. Once the wealth compounding starts to outpace your income, it obviously gets “easier”.
one extra note, since the market has essentially doubled in the past four years, you should see a lot of 3-4 year gaps for 1m to 2m, etc. So this just give you the idea on timelines “after the first million”
1M - 31
2M - 34
3M - will prob hit at 36/37 (currently 35 and at 2.5)
This is shared net worth with my partner. I’m in Consulting and partner is in Tech. Combined income is 500k+ per yr currently, was closer to 300k+ per year at age of 30
1M at 33
2M at 36
3M at 38
Still waiting for 4M. :(
Combined with spouse and what level?