Can we retire yet?

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anonymous said:
Good thread going. Actually something interesting

To the original poster of the recent replies, good job. Early planning means good results later. To the person who recently replied, with what was meant to be a total “impossible” set of data points provided nothing but proof that its true.

Pharma provides good salary, plus bonus plus other benefits (car, 401k match, etc). So someone starting in Pharma at age 25 over 13-14 years could easily amass that savings. Poster never said 10 years, they said “late 39s). Let’s just say the average yearly contribution plus match was 25k over 14 years and with average S&P returns of 8.8% over that 14 year period (S&P 500 Website). A person with no previous savings would have just under $700,000 from April 2005 to April 2019 (not adjusted for inflation). That’s actually just hitting averages of a 100% stock portfolio for 14 consecutive years. Throw bonds in there and your looking right at what the poster said. So “Smart Guy” above, you are incorrect. You left out the nuts and bolts calculation while only referencing it...COMPOUNDING. Hello?? McFly!

Now to the house. As someone mentioned above (and original poster mentioned), this would require some luck but not impossible by any stretch. If someone bought a house in an amazing market in 2011-13 they are sitting pretty today. There are housing markets that are nearly 100% increase since 2012. If this person has been smart since age 20-25 with their retirement/investment strategy, who’s to say they haven’t been with their real estate too?

Everyone’s Pharma experience is different. Hit a couple of start ups with stock options and selling easily yields people 100s of thousands in stock. Not to mention, we don’t know what the other person in home does for employment.

I’m in industry worked for Shire...now Takeda. I also teach a Personal Finance course at a Community College to have fun and help people get their act together early or even much later. This scenario that has gotten a lot of discussion is not

Impossible
Unlikely
Or a lie

It’s someone who’s been smart, started early, a little lucky and done very well in industry (along with spouse). I commend them for their efforts and will actually use this scenario and discussion in my upcoming class next semester. Keep responses coming, I also incorporate “hater” logic to my case studies as well.
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I posted it. It wasn’t true. I was kinda making fun of the other posts bragging on their financials.
The truth is, we have put the max in our 401ks since we started working. We are nowhere near a million. I don’t think it’s possible to do, honestly. We owe a fortune on our home but hope to get it paid off by retirement.
Thanks everyone for playing the game.
 
















































What a useless and egotistical threat. If you have nothing to do but brag / pretend ...get a life.

To the moron that started this thread, and subsequent morons declaring what they have.financially ....I DON’T GIVE A FUCK !
 






Husband and I both in pharma, mid 40s, 2 kids and have about 900,000 together including equity in our home. I'm told we will need about 4 million to retire to maintain our lifestyle. I don't think I'll ever be able to retire as such then
 






If you don't have bad habits, you can retire comfortably anywhere. However, most of you are spoiled brats and have terrible spending habits, with your 3rd cars and European Vacations. Grow up.
 
























Single guy 38 220,000 in 401k about 40,000 in checking account. condo about 220k, 105k equity. I would only Marry a woman that was financially astute. The industry is dying, no longevity. hope to get in 10 more years and then retire
 


















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