Poll:Age when you became a millionaire

[NW-Bound]

I'll have what he is having!

Portfolio gaining 5x in 7 years! I am green with envy.

But if it involves putting it all in one stock, well, I am too chicken for that. And if it is about working for some companies for stock options, I am too old and tired for anybody to want me, and then I am also retired.

Darn, it's hard to keep up with the Jones when you have no earned income to buy stocks, let alone drawing down your stash for home repairs, buy health insurance, put gas in your motorhome. And then, I got reminded that I needed to halve my number because I am married. There goes the "multimillionaire" label.

I feel poor!

 

[Sea Kayaker]

Where is that? Probably not in Vancouver.....

Yes, Vancouver. With brief respites from the rains in the Baja. And summers in the Gulf Islands. No kids. No debts. Modest home. Inexpensive hobbies.

It can be done. And we do.

 

[Car-Guy]

I am always amazed at how truly rich and young a lot of the posters here are....and while I appreciate their successes, I can't be the only one here who might feel a little insecure or embarrassed by my lack of financial success

A smart man only believes half of what he reads and hears, a wise man knows which half to believe.

 

[TOOLMAN]

42


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[mjs111]

$1M at 37, $2M at 40 for me.

 

[MooreBonds]

A smart man only believes half of what he reads and hears, a wise man knows which half to believe.

...and the truly intelligent and learned person sees both the forest and individual trees - as well as the mountain and valley beyond.

You forget that virtually every single active poster on this forum is likely in the top 5% of net worth in the US for their age group - heck, probably irregardless of age! (for the Americans....and likely probably the same for our international posters).

Is it that surprising that of that select 5% subset, that a tiny % of that 5% would possibly be in a position to be in the 1% or higher for their age brackets?

 

[Surewhitey]

1 year ago @ 43...up to 1.06mm now.

 

[Punxsyboy]

We hit it sometime last year 51 & 52 not counting RE. We r both cutting back to part time work in Jan '15......easing into ER.

 

[Major Tom]

Oh, I wouldn't worry about it. The fact that you're on this forum and have an early retirement mindset probably puts you ahead of a good 90% or more of the general population

I wouldn't worry about it either, VaCollector. One of the reasons I fairly often mention my WR and the relatively modest size of my portfolio is to help "represent", as the kids say. The average retiree here seems to have a portfolio of around $1M-$2M, perhaps with SS and/or a pension. Some of the ER's with smaller portfolios have a fair bit in the way of pensions and/or SS to make up for their smaller amount of invested assets. I don't feel that I am in any way "flying the flag" for ER's with modest portfolios, but I think we all benefit when there is as much transparency as possible in the forum.

I suspected as much when you did not buy the lighted toilet seat !

According to Walt, you can even get a heated toilet seat. Perhaps I'll treat myself to one of those when I pass the $1M mark!

And Mulligan - good thing I'm an INTJ/INFJ, or I might actually care about a possible exclusion from the Country Club. It's freeing not giving much of a hoot what others think

 

[Major Tom]

Should we include the present value of all our future SS payments, along with any other pension?

In these kinds of polls, the tacit agreement seems to be that we don't. If there were a standardized way in which the present value of pensions and SS could be included, I'd be up for it. Anything to make mine look a bit bigger

 

[UnrealizedPotential]

I am always amazed at how truly rich and young a lot of the posters here are....and while I appreciate their successes, I can't be the only one here who might feel a little insecure or embarrassed by my lack of financial success

I would also like to say don't worry too much about it.This forum is supportive of everyone regardless if you have a million or not.I am 44 and I have 213k in investable assets.Am I ashamed or embarassed I don't have more?Not at all.Compounding effects will soon begin to take me to another level.

 

[Dash man]

Portfolio gaining 5x in 7 years! I am green with envy.

But if it involves putting it all in one stock, well, I am too chicken for that. And if it is about working for some companies for stock options, I am too old and tired for anybody to want me, and then I am also retired.

Darn, it's hard to keep up with the Jones when you have no earned income to buy stocks, let alone drawing down your stash for home repairs, buy health insurance, put gas in your motorhome. And then, I got reminded that I needed to halve my number because I am married. There goes the "multimillionaire" label.

I feel poor!

It was stock options and the gravy train ends next year, but no worries...we'll be fine.


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[kcowan]

44

 

[Looking4Ward]

53

 

[pullmyfinger]

38

 

[Independent]

A smart man only believes half of what he reads and hears, a wise man knows which half to believe.

Couldn't help thinking of:

People say believe half of what you see,
son, and none of what you hear.
....
Don't you know...
I heard it through the grapevine

 

[traineeinvestor]

Mid-30s .... several times

 

[eta2020]

It does not matter. What I will say are:

20's was important time to get education and find good spouse.
30's was important time to lay down investment foundations/pay off house.
40's was important for very very rapid growth of NW.
50's I don't know.....I will start them soon. I think finish rapid Net Worth growth and
transition to RE.

 

[NW-Bound]

For me, early 50s is the time to put kids through college. Late 50s is the time to travel, to RV! Early 60s may be more of the same, until the late 60s, when you want to just sit in a rocking chair in the front porch, tending your petunias?

 

[gauss]

Interesting shape of curve forming with peaks in early forties and also early fifties. Explanation?

Those with and without children perhaps?

-gauss

 

[splitwdw]

Interesting shape of curve forming with peaks in early forties and also early fifties. Explanation?

Those with and without children perhaps?

-gauss

Divorce??

 

[omni550]

Interesting shape of curve forming with peaks in early forties and also early fifties. Explanation?

Those with and without children perhaps?

-gauss

Or perhaps dual-income families vs single-income? (I'm not sure that everyone is dividing NW by 2 if they're in dual-income situations.)


omni

 

[omni550]

Interesting shape of curve forming with peaks in early forties and also early fifties. Explanation?

Those with and without children perhaps?

-gauss

Or it might also be generation-related. It seems as though younger people are achieving higher salaries at younger ages than their immediate predecessors.


omni

 

[younginvestor2013]

I'm at about $260K at 25. Based on my extremely conservative projections, I should hit $1m (in today's dollars) by 40-43.

But I'm willing to bet I'll hit it a lot sooner (in today's dollars).

The big challenge for me will be staying the course. It's tough disciplining myself now with my modest portfolio (compared to you all). I can't imagine what it will be like when I'm 30-35 and my portfolio is much larger.

By the time I'm 35 given my predicted portfolio value, it be much more challenging for me to tolerate BS. However, given my young age and (predicted) young ER (anywhere from 40-50??), I try and focus on developing myself as a person (outside of work) so I can figure out what's important to me in life, besides my job and career, since I'll have so much free time in the future.

This is not to say I don't work hard or care about work - I do - but I try and leave work at the office and focus on developing myself more in my free time with positive reinforcements/relationships in life.

 

[Downtown]

42


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