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Wow this turned out to be quite the informative thread. I never would have kept track of my progression as well as I have if not for it. I cant believe how much I increased my networth in the last three years. Frankly I didn't think I would be able to invest well enough to make the gains I did.
2016:
$105K (myself) + $17K (wife)
32
NW is a little under a million
2019:
$120K (myself) + $15K (wife)
35
NW is a bit above $1.6 million
That's an incredible networth given your incomes. Have you ever done the calculations of NW to career earnings, or your lifetime wealth ratio? It seems like yours would be over 100%, no?
That's an incredible networth given your incomes. Have you ever done the calculations of NW to career earnings, or your lifetime wealth ratio? It seems like yours would be over 100%, no?
Thank you! No I have never done the lifetime wealth ratio. Honestly, I didn't even know what that was so thanks for including the link. I don't know my exact lifetime income. Never kept track of it. However, I know that I have been working for about 14.3 years. And the first 5 years I earned no more then $53-62K/year. So if I round that up to me earning about $300K the first 5 years; it would mean the wife and I would have needed to earn approximately $139K/year for the other 9 years. This was our highest earning year and we still haven't reached $139K. Based on that I would guess that our ratio is quite a bit above 100%.
Quote:
Originally Posted by Willamette City
We live in Oakridge, Oregon.
I'm 66, SO is 63
Income is $75,100 goes up to $87100 when SO starts SS in 3 years, plus 3% annual raise.
NW around is around 2.25 million
I have a great pension that continues for my wife when I die.
Thank you! No I have never done the lifetime wealth ratio. Honestly, I didn't even know what that was so thanks for including the link. I don't know my exact lifetime income. Never kept track of it. However, I know that I have been working for about 14.3 years. And the first 5 years I earned no more then $53-62K/year. So if I round that up to me earning about $300K the first 5 years; it would mean the wife and I would have needed to earn approximately $139K/year for the other 9 years. This was our highest earning year and we still haven't reached $139K. Based on that I would guess that our ratio is quite a bit above 100%.
You can check your historic earnings at Social Security's web site (SSA.gov) if you're curious for a more exact number.
When one creates these visions in their head that the bogey man is coming , they usually have no real logic to them.
It is like the articles in the gold bug newsletters I used to get in the 1980’s.
Like I said, when we were featured both in money magazine and fidelity investment magazine a dozen or so years ago , all our actual information was displayed for tens of millions to see ,both in the magazines and for up to a decade on cnn’s website .
We could have had all kinds of those visions ..the reality is not even a charity called
Did either you or your wife have any of your accounts hacked or password info on the dark web?
Fidelity has their own hackers who scan the dark web for anything pertaining to fidelity ...they saw my wife’s info up there...not that they could do much with it ..fidelity notified us and closed those accounts down ..it took about 10 days to get all new checks , cards and accounts
Age 48, Salary $102,283. Wife has the same salary. Net worth...no clue.
Ooh, yikes!
Net worth, especially liquid net worth (i.e. not including home value) is ultimately more important than W2 income. Income from a job can go away tomorrow.
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