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Where are the Fatlittlepigs? Are Fatlittlepigs rare?

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  • Where are the Fatlittlepigs? Are Fatlittlepigs rare?

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  • #2
    How long have you been earning 550k per year as a couple?  Even if you started at age 30, it seems unrealistic you would have amassed that much money in so little time.  Unless I've misunderstood your situation, something doesn't add up, but of course I'm no expert.

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    • #3
      I feel like you're leaving out (a significant) part of the story.  Even with very generous assumptions (started with no debt, have been making current salaries for all 10 years, tax rate 33%, yearly budget $60K/yr, investments making 10% a year), I can't get you to $6M.  If you start at $0 at age 31, invest $300K/yr, at 10%, you get like $5M and change.  And that's without having to pay off student loans, mortgage, etc.

       

      That's probably why there aren't more fatlittlepigs.

       

      So what are you forgetting?  Family inheritance?  Full scholarships?  A couple years with salaries over $1M?  Won the lottery?

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      • #4
        Your situation is surely unique, and not for lack of trying.  I agree with others - we need more insight.

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        • #5
          I wonder if the OP is counting the value of his house in that net worth calculation?  I could see someone hitting that target by age 41 IF they were fortunate enough to buy into a rapidly rising housing market before the prices really began to skyrocket.  Most parts of the US, though, don't have such a market.

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          • #6
            [ad hominem attack deleted.]

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            • #7




              fatlittlepig- age 41, net worth is currently 6-6.5 including paid off house, no debt.

              dual income physician household making about 550 / yearly

              after years of browsing bogleheads.org, and more recently this forum, I have come to realize that this level of net worth is rare or very uncommon amongst physicians in my age range.

              there surely are many dual physician income households, why would this be rare? we are frugal but not overly so in my opinion. Steady stock market investing.

              why aren’t there more fatlittlepigs.

              -Fatlittlepig
              Click to expand...


              wow.......i havent seen a humblebrag post this good in a while.

              you aint worth nothin compared to Gates, Musk, Bezos, Buffett....so get back to work.

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              • #8
                IME the little pigs who like to go around bragging about how fat they are tend to get eaten by the big bad wolf ?

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                • #9
                  He/she paid off an $800,000 house in 3 years.  It's reasonable to include that in net worth since you can turn it into money.

                  He/she's Kaiser/TPMG as well.  Kaiser allows for very inexpensive home loans and has retirement programs that you can defer lots into.  That will allow for lots of tax-advantaged investing, lowering the bill.

                  VTSAX is 10.8% over 10 years, so let's give him/her that (though a well-managed property portfolio could def out-earn that, plus appreciation).  Assuming that's the 12th root of 10.8% per month and 120 months, that's $28,757.46 invested a month, or $345,000 a year at that rate.

                  If they've invested $300,000 a year for 10 years, to get to $6M would be 1.06% a month or 13.5% a year.  Not the most unreasonable over this roaring span, esp with properties bought at the bottom with their current valuations...

                  ...anyway, good for you.

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                  • #10




                    He/she paid off an $800,000 house in 3 years.  It’s reasonable to include that in net worth since you can turn it into money.

                    He/she’s Kaiser/TPMG as well.  Kaiser allows for very inexpensive home loans and has retirement programs that you can defer lots into.  That will allow for lots of tax-advantaged investing, lowering the bill.

                    VTSAX is 10.8% over 10 years, so let’s give him/her that (though a well-managed property portfolio could def out-earn that, plus appreciation).  Assuming that’s the 12th root of 10.8% per month and 120 months, that’s $28,757.46 invested a month, or $345,000 a year at that rate.

                    If they’ve invested $300,000 a year for 10 years, to get to $6M would be 1.06% a month or 13.5% a year.  Not the most unreasonable over this roaring span, esp with properties bought at the bottom with their current valuations…

                    …anyway, good for you.
                    Click to expand...


                    Timing is important.

                    Comment


                    • #11
                      The fat little pigs are in tech, not medicine. Your post sounds like a troll. Few residents start full time attending jobs before 30, and 11 years isn’t much time to build that level of NW at your salary level.

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                      • #12







                        He/she paid off an $800,000 house in 3 years.  It’s reasonable to include that in net worth since you can turn it into money.

                        He/she’s Kaiser/TPMG as well.  Kaiser allows for very inexpensive home loans and has retirement programs that you can defer lots into.  That will allow for lots of tax-advantaged investing, lowering the bill.

                        VTSAX is 10.8% over 10 years, so let’s give him/her that (though a well-managed property portfolio could def out-earn that, plus appreciation).  Assuming that’s the 12th root of 10.8% per month and 120 months, that’s $28,757.46 invested a month, or $345,000 a year at that rate.

                        If they’ve invested $300,000 a year for 10 years, to get to $6M would be 1.06% a month or 13.5% a year.  Not the most unreasonable over this roaring span, esp with properties bought at the bottom with their current valuations…

                        …anyway, good for you.
                        Click to expand…


                        Timing is important.
                        Click to expand...


                        This has been a good ten year stretch.

                        Hard to not come off as a braggart the way the initial post was written, but to be honest, with the skew of this forum, I suppose most of us would just shrug shoulders....

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                        • #13
                          Odd thread.

                          Good on the OP for building that level of wealth in such a short time.

                          I did not have the discipline or the good fortune to have done so.

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                          • #14
                            Of course it's rare.  Most docs out there aren't going to be saving over 1/2 of their income for retirement or anything close to it.  Good for you

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                            • #15

                              If they started investing $300k/year or $25k/mo starting in 2008, they would have made a lot more than 10% annually, assuming they were investing in the market with a typical portfolio.  They would have lost money in 2008, but each year after that some years were as high as 30%.  Even a portfolio with a lot of bonds could get them past $6,000,000 in that amount of time.



                              I would still bet they are leaving something out of the story, such as substantial family contribution, different incomes throughout those years, etc.  But it's very much plausible.

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