Believe me we’re at 2 million and we don’t view ourselves as rich. But we see ourselves as not worrying about running out of money while we can’t work.

I'm nearing 60 and like most people, I say that I wished I would have started saving earlier. But with a lot of financial strength I did hit that coveted 100k and recently the 1M mark. What worked for me was to have it taken out of my paycheck before I even saw it. As for being a "Millionaire", yes, we have private chefs. On Monday, Wednesday and Saturday, that private chef is me. On Tues, Thurs, Sun it is my wife. Friday is either eat out or left overs. And just to round out the view of my luxurious lifestyle, I drive a 5 year old RAV4 and my wife drives an 11 year old CRV. Life is good! Thank you Erin for all of your research bringing us these great videos!

My parents are multimillionaires after inheriting money and I had absolutely no idea growing up. My dad had a blue collar job, which he continued long after the inheritance. They live frugally, drive older cars, buy secondhand, and live significantly below their means. However, they give away large donations each year, often flooring people who had no idea they had that amount of money. I only realized they were millionaires after accidentally finding investment account info in my early twenties. Most millionaires are not flashy and that’s why they have significant funds.

My goal...tax free multi-millionaire. I can remember walking with a friend in the early 80's and we passed a house and he said that he bet they were a millionaire. I thought to myself right there that I'd become one someday...and here I am! No matter what our net worth grows to we'll never change our modest lifestyle as it's the best way to live. Funny about millionaires not eating out. I've noticed that you can get rather tired of eating out rather quickly but we never get tired of our great home cooking. Tonight we made a 99 cent/lb roasted chicken with baked potatoes and green beans, all perfectly cooked and the last of the apple pie my wife made earlier this week with a scoop of Breyers vanilla ice cream. What could be better than that?

Having retired almost 2 years ago with slightly over $2Mil in our retirement fund I can assure you we don’t have a private chef or fly on charted aircraft. I would say we are somewhat conservative about spending, not overly frugal but conservative. We do live without financial anxiety, which is nice.

My retired friends and I are pretty well-off, but we don't consider ourselves rich.....except for one guy, who is very wealthy. If you are retired and have $2 million, $3 million, $5 million, you can live very nicely. But real wealth nowadays starts at $10 million, at least in these expensive areas. Professional jobs, owning real estate, inheriting a house, steady saving - that's how we got to where we are. The guy who is really wealthy sold his company and invested all the money in tech stocks in 2005.

My parents are millionaires (they are age 81 and 77). When my brother and I were very young my parents had 1 car and struggled to made a deal to fix up a beat up apartment so they could get reduced rent. They have always been very frugal and always will be. My Dad is still driving his 20 year old car even though he could buy a brand new one and barely see it on their bank accounts. My Dad worked for IBM from 1971 until 1998 (age 57) and made good money as an electrical engineer, but their money grew because they spent carefully. We went on family trips, but only 1 was extravagant (Europe for weeks). The rest were on the road with a camper, staying in campgrounds. They have travelled quite a bit as their big splurge (Turkey/Japan/Hawaii/Alaska/Fiji... etc.) The house they live in now is right about the median home price for the city they live in (Rochester, Minnesota).

People might be confusing million dollar networth with an annual million dollar income. million dollar net worth, as you stated, does not afford one a private chef!

I'm 58 years old with over $800k invested. I'm adding to it aggressively with a goal of $1mm at age 60 and $2mm at age 67 (full retirement age). Like many, I wish I was more aggressive in my 30s and 40s. I saved 10% thinking that was enough, but it really should have been more like 15%-20% during those years (1996-2016). I'm now saving about 30%, but playing catch-up to meet goals is tough. And yes, the first $100k is the hardest. It took me from age 22 to age 34 - 12 years - to save the first $100k - and that was with a stock market that went from 3,000 to 10,000 during that time.

My 6 year old is obsessed with Lamborghinis and crap like that. I told them they are very expense, he said do you have to be a millionaire to buy one? I told him you could either buy that car or a house. You could either buy that car, or a new truck, new boat and have money to go fishing every weekend. He understood quickly that maybe that fancy car wasn't worth it (he loves bass fishing). He asked me that if I was a millionaire if i would buy one and I said, I will be a millionaire in a few years. I said when I become a millionaire do you know what I will buy, he asked what, i said nothing new or flashy, I'm going to live the same lifestyle. I think so many people have the opportunity to become millionaires, but instead they have thousand dollar car payments. And for those saying a million is nothing, i would like to know how much they have lol. My guess is they do not have a million either. Rule of thumb, the cost of everything doubles every 20ish years. Meaning if they say a million is enough to retire today, in 20 years you will need 2 million or if you retire in 40 years they will say 4 million. Great videos, keep them coming.

Our net worth is at $300k and our goal is to hit $500k in 2 years and $1M in 5 years after that. Our goal is to be a multimillionaire to set our children to a better financial future and to donate to less fortunate people. One day it will all happen. This is not a race but a marathon and consistency wins the game all the time. 🙏

I just finished updating my Net Worth spreadsheet. I saved just over 65% of my net income in 2023. I'm retired, no mortgage, no car payments, no debt. Life is good!

My wife and I have hit the one-year mark of retirement. We are both 65 now. We had set a budget of 110K in our first year and put over 400K away in high-yield accounts as we don't plan to take SS until 67.8 years old. Well, we did three vacations over the year and still only spent 82K. We found that the day-to-day things we like to do are close to free, we do hit the gym 6 days a week but now we walk a lot and we don't find ourselves going out to eat very often as we have plenty of time to prepare great dinners. At this rate, the money in IRAs and Roth accounts might not be touched for a long time.

Average Joe here. We were told 30 years ago to try to get to 15% income invested for retirement. With company match we eventually got there in our 401k and moved on through life. Goal was 80% pre-retirement income and we will only exceed that due to a pension and the math of compounding. We are not brilliant investors , nor financial geniuses- we may want for nothing but more importantly we don’t want everything- my average joe advice, get to 20% pre-tax, 100% equities for your first 20 years and go live your live. You will be shocked when you look at your account - don’t over think it!

I may have retired at 52 six+ years ago but I never reached that goal. More importantly, I am comfortable and not depriving myself of anything in retirement. I shop smart. I've been on 8 cruises in the past 12 months. I have a 14 day cruise coming up next week. It's all about what you spend. Less is more in my case and opinion. Life in retirement is good and no way can anyone take those years I have fully enjoyed myself away from me. Plus, my net worth is higher today than it was when I retired in 2017. Take that inflation!

Erin Talks Truth…be frugal, be smart, be conservative. We are probably in the top 3% as it relates to invested assets and net worth. Be humble…I mow the lawn, no grocery deliveries, no house cleaning service. And, we have a three bedroom rancher built in 1963 - it was a “starter” home and we have made it our lifetime home. But, we have traveled the globe, put two kids through private college with no debt. Discipline and focus - live life on your terms.

Great video. No, we don't have a chef or a maid or even a gardener. Hoping to pull about 60K a year from our money and add it to some pension income as well. This should still allow it to grow over time. Frugal is how you get there and stay there as well. 1M at 47, 2M at 53, and retiring at 55 in 17 months. Critical mass for us was at 47. At that point I saw that our money would outpace our income needs without any additional money invested from us. That was a real moment. It is a great place to be in for sure, but it took 20 years of diligence to get here.

I retired at 57, 6 years ago. My wife and I saved and invested early allowing me to exit the workforce when I did. She stayed home after our first was born and has not worked since (24+ years). House is paid off, kids college tuitions fully funded, have two late model cars fully paid off, travel extensively and do not forsake anything we need. I actually have more income coming in today than when I was working. We are not special and believe most people can do this with the appropriate level of planning and discipline. The key message I would communicate to others is don't delay retirement if you have the financial wherewithal to do so. Too often I have seen many people delay retirement and then experience health issues which constrain the very things they wanted to do post-retirement. Moreover, the most significant benefit of retirement for me is that I no longer have to deal with people I do not want to. That has proved to be the ultimate blessing.

In my early 30s I set a retirement nestegg goal that I wanted to reach by age 59 1/2. By some miracle (and savings discipline) I actually reached that goal. Then due to the power of compounding (rule of 72), my retirement nestegg actually doubled by age 65, which is when I retired. My point is that you should set your retirement nestegg goal for 7 years before the age that you want to retire, and then let the power of compounding double it.

49 and just below $500k. Not great but still on track according to Fidelity. More importantly, I am still on track according to my metrics

Thank you, Erin! Having crossed off the big goals you touched on and enjoying an early retirement to leverage those "go-go" years, I would say your wisdom on having goals is very important. Pull that money out of your paycheck before you see it and you will be so glad it is there when you need it.

Being a millionaire these days only allows a couple to worry less about money. My wife and I are retired. Over the past 30 years, we accumulated with savings, investments and home ownership, close to 2 million dollars. The best way to get there though was having no debt. We live frugally but still enjoy life after her retiring at 58 and me at 60!

My critical points with retirement savings were: 1) Initial excitement of how much I was contributing my retirement savings and how fast that contribution was making the balance grow 2) 13-15 years later coming to realize my earnings on my retirement account was "contributing" as much as I was - Basically doubling the amount the account grew since my money was contributing as much as I was. 3) 15-17 years later realizing my account was earning as much as I was earning each year. That's when you know you can replace your income with your investment earnings. How to get young people to just put the retirement money in and don't look at it is hard to do, but 35 years later I'm glad I followed my father's advice and did.

20+ year bar/restaurant owner here - only important because of the typical age of employee...early to mid 20's. I tell my kiddos (employees) if they invest the same amount every month as their car payment, they will probably never have to worry about money. Essentially, if you can't afford double your car payment you shouldn't be buying that vehicle (don't count insurance, maint, etc...just the car payment). Have had kids come back 10 years after leaving my place and say they were able to buy a house - had 20% down payment easily covered because of this simple tip. I use the "car payment" as a barometer because it seems to keep pretty good pace with inflation.

For me the key to “financial Emancipation” was simple, it wasn’t about what I had, “I had nothing” but what I chose to do without. Now, decades laterI am in a really good spot. Learn to do this well and early and I think you’ll be both happier and wealthier. Given that lifestyle why would I change now. It isn’t greed , it’s about protecting the ones you love and yourself. That said, that shift is a “good thing.”

It's funny how some people perceive what having a million dollars looks like. My wife and I are both 50 and we have about 1.5 million between cash and investments and no mortgage. We like to travel and when we do, we always fly economy and book reasonably priced hotels so we can take more trips. I'm a mortgage broker and I've done mortgages for lots of friends and family so I know what their financial situations are, and I'm always surprised when I see them taking lavish vacations and buying expensive items knowing they can't really afford them.

You of course must talk about inflation when you talk about millionaires. I remember being in high school in the early eighties were we had a personal finance class that talked about what to do to become a millionaire in 40 years. I remember arguing at the time that because of inflation being a millionaire in the 2020's would not make you rich. I worked hard to prove her right ... I am now a millionaire (without home equity), and I still feel like I cannot afford to buy coffee at the local shop, so I make it at home and put it in a thermos. The closest thing I have to a personal chef is my 20-something daughter who sometimes makes dinner. That is nice, but I have little choice on ingredients and dinner usually involves kale ... a lot of kale. But goals are important, so we need to come up with catchy name for someone who is worth $10 million. Decamillionaire is accurate, but I doubt it will ever catch on!

"Compound Interest is a really beautiful thing" no truer words ever said. I like to think of it as the 8th wonder of the world.

You’re spot on in recommending focusing on the first $100k. Once you do hit that mark, just keep doing what you did to get there year after year; decade after decade.

My financial goals seem to keep moving as I get closer to them. It is easy to always want a little more margin of safety at least for me.

I'm one of the 2%. I lost my job in August. I still feel like I don't have quite enough to be fully retired. I'm awfully close, but I'm right on the line of possibly not having enough. I think I need to go back to full-time work in 2024, if that's even possible. I found out that I was the only person with my job title that was let go. I was also the oldest. I'm only 52.

I'm 35 and hit the 400k net work milestone this week. 300 of which is in retirement accounts. I more than likely will hit the 7 figure mark in my lifetime, however that's not really the goal. As long as I retire early(ish) and I'm happy that's what matters. 🙏

I’m 53y/o and a millionaire. I still work and live modestly. In the winter I turn up the heat and in the summer the house is cool. I don’t have to worry about those bills. I drive a 7 year old Honda because it’s very reliable. To me being a millionaire means not worrying about daily expenses. It provides a level of calmness. The key to life is low stress and social interaction. Material objects just provide more headaches.

Erin, As you know, you don't need to be a millionaire to retire. To be successful in retirement as you were when in your career, you just need to live within your means. Sometimes, you may decide to work to supplement your retirement or just to have something to do. My son hates that I have 2 part time jobs, he wants me to enjoy retirement, which I am. I have a set schedule for 3 days a week and a flexible schedule for 2 half days that I don't even have to go to work. At the flexible job I have 4 people that I work with that are in their 70s. Several in their 60's. It's an easy job that you get to socialize with people for an hour or so then work and get paid for 4 hours. Retirement means different things to different people. Best Wishes

Sometimes i get depressed (or is it anxiety?) when i think about how far behind i feel, than i hear about people who saved like 80 dollars and a pack of hot dogs for retirement and i don't feel so far behind anymore.

My wife and I are in our mid 30s and have about 300k in various savings/investment accounts. 1 million is certainly a goal, hopefully before we hit 50, but as you stated… it’s kind of arbitrary. I want to retire a bit early and we don’t want our kids to pay for college like we had to. We make 200k gross, so it’s doable. Being ultra wealthy would be kind of cool, but my wife still shops at goodwill and I drive a 15 year old car; don’t know that we could spend that much anyways.

Goal is 5M invested @ 55. Currently 43. If the “7 year doubling rate” holds good then goal should be met given current investments, give or take a year.

This is the first time I’ve ran across your channel. I love it! Keep it up!

About the same time our wealth accelerated with the market, our lifestyle reached a point of realizing the true benefit of a minimalistic lifestyle. At 46 with over $3.5 mil net worth, our lifestyle and happiness hasn't changed since when our net worth was at $500,000. Money solves stress, but truly doesn't bring much more happiness. I truly wish everyone to be able to realize that in their life at one point!

Don’t forget about Dave Ramsey’s way to withdraw.. take the golden eggs, not the goose.. example Average typically 12% return.. I have over 17 years investing his way.. 12% with a withdrawal rate of 8% with 4% going for inflation.. you will be doing great for your whole retirement. Your doing awesome job! Great videos.. Billy #3

The thing that should be accounted for is not "how many are there" but "how many get there by age X". For instance, the 75%ile mark for ages 55-75 is over $1M. It declines after that as people spend down, and there are more households at ages below that. The other challenge is that a lot of the reporting on "saved for retirement" only counts retirement accounts like 401k and not investments outside of that - especially things like home equity. (Not worth counting if you want liquid net worth, but probably a big factor in a lot of the older households who just cross the line by a couple hundred thousand.)

$1,000,000 net worth is still middle class, was my point that saying it takes at least $100,000,000 to be upper class. One gauge is how much power a person with $1,000,000 has. Very little. Your point that the millionaire is closer to the poor than the billionaire is correct. The distance is what makes the distinction. Those with a few million are still ordinary people who have to be careful with their money.

I am striving to retire with 3 million at age 60 when my youngest son plans to graduate college. I'm 54 now and have saved and invested since age 23 as well as inherit about a third of what have invested. At 54 I have a net worth of 2.5M. We live on a modest 80k for a family of four which is below the 120 to 160k gross I earn each year. My wife is very smart, very frugal, is an excellent cook and very artistic. Our biggest expenses are food and auto related as we are debt free including house and cars (a 2004 Mach 1 Mustang, a 2006 Jaguar, a 2017 Ford Escape, and a 2012 Toyota Sienna.)

My goal is a million in invested assets by the time I am 40, I am about half way there and 4 more years. I think I can do it! Thanks for your great videos Erin, always love your approach to finances. Keep it up!

Engagement for Erin. Keep up the great work.

Your voice and articulation is lovely!

Another inspiring video. The really great part is that the financial habits you developed on your journey to 1M can continue to carry you to "infinity and beyond". Chances are pretty good by the time you reach 1M, you won't know how to go back to any other way than keeping up with your good financial habits.

Im 55. Don’t have much saved (do have a 401k I’ve contributed into since 2019), but I do have a pension that I’ve been collecting on since 2019. If I live to be 80, it will have been worth close to a million. Also, no debt and my house will be paid for in full in approx 5 yrs. I feel very comfortable because I’m moving to the Philippines in 6 yrs. My pension, social security and investments will put me in the top 1 percent over there.

My target, based on the 4% rule, is $2.5M since that would generate $100k/year, which is beyond what I'd need.

It is cool that maxing out just a Roth IRA each year starting at the age of thirty years old will make one a nominal (not inflation-adjusted) millionaire in many macro-economic scenarios. Better would be to take the same amount of money and put it into a Roth 401(k) with an employer match.

The actual reason why "ordinary" millionaires are not flashy and don't splash out on everything is that it is very hard and time-consuming to earn a million and way too easy to quickly lose it all. You really have to be always disciplined with your finances to be able to, firstly, earn the millionaire status and, secondly, to be able to keep it

I have managed to amass portfolios of a value a little bit North of a million dollars. I can confirm: I do not have a private chef. I fly economy class. I cannot figure out how to get my hands on a 54 foot sailboat. I'm close to retirement, and that million will, I hope, along with Social Security, (which I'll eventually start collecting), give me an income that will feed and house my wife and me for the balance of our lives. I'm certainly not rich. I'd go with: comfortable.

I’m a millionaire and I have a private chef. His name is Michael Swami.

If my wife cooks at home does that count as a private chef. In my experience the people who say $1 Million is nor enough dont have any saving.

It is a nice feeling to achieve this milestone.

I have $1.6M in invested assets at 44 years old. I don't have a private chef 😂 and I still look at the price before I place my order. I've never flown private or even business/first class. I live well below my means which is how I became a millionaire....

I'm not quite there without my house, just under it now on investments only - but should hit that this year before my birthday (48 in June). A lot of that is in either after tax accounts (Roth equivalent) or in non-retirement accounts, which at least helps from the tax man's bite. My home equity is about 500kUSD, but I don't count that as I love my house and can't leave it!

I'm still years away from being a millionaire and for me it's just a security thing. I know I will have my pension, government money, extra pension, and a regular investment account to draw money from in well over 3 decades. At my current rate of investment I should hit millionaire status in about a decade by projected returns in my regular investment account. That would be an insane milestone to hit. I would only be in my early 40s and have a lifestyle that I could comfortably keep with or without my job. Of course this is all just projected and we have no idea what the future holds. I could lose everything or fall into a million tomorrow. Only time will tell.

I started late, mostly b/c I was in school way too long. I have been putting in 800/month for the past year. But 2024 I’m going to start doing 1200/month. In hopes of catching up for the last 15 years. 😬.

Good balanced message. It’s great to set interim goals of $100,000 and $1m if that motivates you. But really it should be automatic and mostly out of your thoughts early. I’m nearing 60. I used to think $3m was my goal. Despite constantly fighting against lifestyle creep, it happens as you hit your peak earning years. So, expect your goal to increase and save more than your target.

Your videos are always very informative. Thank you.

One million dollars may not be worth as much 40 years from now. But people in their 20s are making much more than previous generations. The amounts may change but the principles are the same.

You are a very thoughtful and smart young lady! Your presentation is very well rounded. Thanks for this great video!!

The spin I like is that the million invested cranks out 100K, 200k, 250k some years, not including amounts you’re putting in each year. Thinking of it in terms of a safe withdrawal rate of 4 percent, when you’re not withdrawing anything, is using the wrong measuring stick. I know you know this, but folks better stop poo pooing a million invested. 😂 it’s one heckuva money-making machine once you get one.

this is why Dave Ramsey made the 8% rule. He is trying to keep people motivated. this video gave me hope!

Data I was looking at recently had the 90th percentile at around 1.9M. From memory, 1M was around the 89th.

Thanks for the content.

Where you have it and what you have matters. Early retirees are glad our assets arent all in retirement accts. I held tax efficient investments like RE, growth stocks, index funds/etfs outside retirement and am glad.

To achieve a goal of 2, 5, or 10 million dollars or more often requires that you earn the one million dollars along the way. It's an important milestone.

Erin, I have been watching your shows lately! They are all so good, keep it up❤ This year we are trying to pay down the mortgage, we even have an acronym PTM. At the end of 2023 we might only have a little under $10,000 left and I will be sucking more money into retirement can’t wait.

I love your videos. Thanks! One correction: 11:20 The closer you are to retirement the _larger_ portfolio you’ll need, because a younger person has more years of compounding returns ahead. As long as the younger person earns above the inflation rate, they need _less_ accumulated than a near-retiree.

Hi Erin, great video! Even though $1 million isn’t worth what it used to be, it is definitely better to have $1 million than not. I noticed that there was something on your couch in the first half of your video and then about half way through, it disappeared 😮 P.S. has your baby been introduced to Peanut yet? And have you announced your baby’s name yet? Hope you have a blessed week 😊

I came to the United States with barely enough money to pay for my first semester of college. I graduated with a degree in Electrical Engineering and worked for the next 28 years while continuously contributing as much as I could to my company’s 401K plans. I retired at 56 and currently have 3.2 million in Roth & Traditional IRA accounts, Taxable Accounts and other savings. We did receive a windfall of 800k 15 years ago from my mother who passed away and invested part of it for our two children’s college education and the rest went into our investments. We have our house paid off and both our cars paid off. We live quite frugally on about 90k a year, and get our health insurance on the ACA. I walk daily and go to the gym 3-4 times a week and we eat at home for supper on most days.

One caveat about being a millionaire is that most millionaires have their money tied up in home equity. If I recall, you deliberately don't count home equity toward net worth, so this might not apply to your advice, but for most people, having home equity is useful as a nuclear option, but unless you hit the sell button, that money doesn't spend. So most millionaires are even less rich than we generally acknowledge.

What ages for those initial stats?

Great video

Counting my home - I’m sitting at just over 1 million net worth now in my mid 30s. My goal is to get to a liquid million between taxable and retirement assets by 40. Baring a major crash from this point I’m hoping to get there!

Are these stats for individuals or household/couples? It always confuses me when I see any statistics about money, because I have individual plus joint assets with my husband.

If one to retire with a million using the 4% one should consider working part time for a few years just to make sure you can do it.

Private chef... lol. I wish. I drive a Honda. I fly coach. Nothing flashy about saving money.

Where were the inflationistas when inflation was 3% and the value of monet getting cut in half every 20 years?

Net worth is a pretty useless measure of financial health or retirement readiness. One "millionaire" might own a million dollar primary residence whereas another "millionaire" might have lucrative commercial real estate generating a juicy 10% return. The guy with the fancy house is losing thousands in maintenance, taxes and insurance where as the other guy is netting $100K a year in income. Sustainable lifestyle is all about cash flow minus expenses - not the value of your assets

I'm 44 and just hit 1 million net worth a few months ago and a lot of that is my home. My wife and I want to travel when retired so I'm thinking I need around 3 million. I'd like to retire before age 65 but Healthcare is something that I need to figure out first. Erin have you done a Healthcare video for early retirees to fill the gap before Medicare?

Just a note: “Top 94%” means all but the lowest 6% so you meant top 6%.

Why when selling investments do all financial people use 8-10% as growth but only allow 4% for withdraw?

Real stat should be pctg of 60+ yr olds. Also, that table you glossed thru has two calculations: a. investable net assets b. investable net assets plus net value of home plus net value of pension benefits

I hit a million in 2018 and now I’m at 1.5M in my portfolio and my home is worth 1.5M This portfolio is a money-making machine and is growing rapidly If you’re able to have a million invested at or before retirement you’ll sleep well

I am there and I didn’t get here by blowing my money. In fact, although I can buy (and pay cash) most anything I need; I still shop at thrift stores and Walmart and drive a 20 year old car. Big secret is once you adopt the frugal lifestyle, you do not change. A simple lifestyle is to be the goal.

The millionaire next door and updated editions are great books. I also like the books by Peter Lynch which were the first I read3 decades ago. I found out that if you are young and pay yourself first, say 10-20% off the top into savings and stocks/bonds even at a low return rate, say 6% annually. Just look at the numbers. The rule of 72 is phenomenal.

Interesting, your comment about withdrawal rate adjustments for inflation. 4% is a fixed amount. Unfortunately you can't adjust for inflation if you want to follow the formula.

I appreciate your discussion of compound interest and also your mention of the comments you get from people saying $1 million is nothing now. I also hear that all the time and it’s discouraging to hear that from people when you finally reached that $1 million goal, especially when those people are nowhere near hitting that goal themselves. I think it also matters at which age you reach your $1 million invested. To illustrate, my 70 year old aunt with no retirement on her own inherited $1 million from her deceased family member and said she was grateful to have it but it wasn’t a lot. But at 35, my household has just reached $1 million invested and it will turn into $28 million when I’m 70 at a 10% rate of return. So the time invested and the age at which you plan to withdraw matters so much.

Inflation, Inflation, Inflation! LOL!! Great video!

Counting the house we have made it. And that is with a 1963 era, 1,680 square foot house in Southern California. Without the house we are a third of the way there. The issue that I would have with including the house is that we live in it and the money is tied up in the house. Nope not interested in taking a loan out on the house. That is something I won't do. Not a fan of debt.

She's spot on. I'd only add - buy land when you can. It won't get cheaper - meaning the value will always increase. Its really my only regret in investing, but for full transparency I live in a rural area and enjoy the outdoors. Its an investment I could enjoy while its increasing in value.

Hey Erin, $1,000,000 in 2023 is the equivalent to $3,147,127 in 1983? Wouldn't it be $1million today would be the same as 3 hundred thousand dollars in 1983. Since inflation is the devaluing of the money supply. Please explain?

Great video, as always! Also, is the baby here yet?

What’s your opinion on stacking gold coins and silver coins as part of your retirement plan? Thanks!

Want to retire at 55 is the 5% rule reasonable?

3:23 - Rule of 4% is meant to take someone from 65 to at least mid-90's (or even late 90's). if what I have seen is true. I'm more interested in the number that can be used if you only want to focus on 65 to 85 years old. I don't expect to live past 85 and my wife is 6 years older than I am. I have a firm belief that between family history, CDC life expectancy charts, and the fact that even without my investments, I would still have my state pension and whatever SS there is at that time to cover myself and/or my wife. There may also be some term life money involved depending on when the end of the road comes for either of us.

Ok so counting my 403 b and my hsa I will most likely have less than or right around 100k when I retire. Thats not what Im relying on though I have a city job and a state job. Both with a pension. When you add SS I’m looking at between 80-90 k a year in retirement. Now that depends on nothing changing in the next 12 -15 years.