Poll: > $100k in income, > $1M in invesments?

[JBinKC]

Actually under the equal installment rule I could only take out 1/41 of the FMV of my account which was a little more than 54K. So I fit under less than 100k income and more than 1 million in investments.

[jc3900]

I hope you guys accounted for inflation. If you are planning to hit the 1 mil mark in 10 years you better scale down your interest rate 3-4 percent. This way you will be planning for the official Millionare net of inflation club.

[Snave]

I hope you guys accounted for inflation. If you are planning to hit the 1 mil mark in 10 years you better scale down your interest rate 3-4 percent. This way you will be planning for the official Millionare net of inflation club.

Then the thread would have had to said "1 Million Club Minus Inflation" and that just is not a catchy title. Most people understand inflation adjustments. A million today is less than a million 10 years ago less a million 50 years ago. But why stop with inflation, what about cost-of-living adjustments, etc... A million in NYC is less than a million in North Dakota. I think the number was just put up there b/c it was one that everyone recognizes and would get people to post. Plus, you can't hit a million + inflation without first hitting 1 million.

[Ima saver]

We will probably never hit $100,000 in income, but we have over a million in investments and cash, plus a paid for house.

[brig2221]

I chose not there yet, but should be within the next 10-15 years. My wife and I are both 32 years old. I have never personally earned an income of $100k in a year. My wife is in sales, and has had two stellar years, and has earned over $100k. I just got out of sales (Thanks God!) and moved into a new position within my same company, could not be happier. That said, it is going to take me some time to hit the $100k barrier, if that ever happens.

Crunching the numbers right now, we could probably hit the 1 million dollar mark in 15 years if we didn't save another penny, assuming that our current invesments were to perform reasonable well. That certainly isn't the gameplan, so I would imagine we would hit that mark in 10-12 years if I was a betting man.

That said, A LOT can change in between now and then, both good and bad. We just had our first child in January, so I can already see how much more difficult it is going to be to continue to save at or near our current rate.

[Merch]

I earn over 100k been that way for about 5 years now. But I am on the east coast. If I paid off the house today, I would be just over a million in net worth.

I am in Boston; but NY, Phillie, DC, a salary of 100k is not that much.

I do plan to $1 million in the next 8-10 years.