We are a married couple in our late 40s with no children, we have a house, no debt, and a savings of nearly 1 million dollars.?
And we have a joint annual salary of around 140,000 dollars.
Do you think we are pretty financially secure?
- Anonymous6 months agoFavorite Answer
You are among the richest 1% of people worldwide, and you are asking if you are financially secure? To put it in perspective, 99% of people worldwide have less wealth than you.
Even in the US, you are among the richest 10% of all US households(yes you are doing better than 90% of all other US households!). Of course you guys are financially secure, I am sure you were financially secure a while back, You guys are sorted and with that salary that you have, you will only get richer.
- SumDudeLv 76 months ago
No. You are poor. People with this kind of money do not ask Y!A this question.
- 6 months ago
Yes you are. Make sure you investing not just saving.
- tiescoreLv 66 months ago
Dunno how much you spend, what your health condition is, how much insurance you have....
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- Beverly SLv 76 months ago
I would definitely buy some long term care policies in case one of you ends up in a nursing home. Also some high dollar life insurance. Keep putting in those retirement accounts. 1million sounds good but it can really go fast if something major happens.
- GEEGEELv 76 months ago
Perhaps. Depend on when you think you might want to retire. If you retire on the "youngish" side, you could live 30 or 40 more years. All it takes is a major hospital stay or time in a nursing home and you'd be amazed how fast the money flies away. It you had no money, sometimes it's almost better than having some.
- Casey YLv 76 months ago
You are in good shape. Given your age, perhaps $3mil will be enough to retire on.
- RichardLv 76 months ago
By the time you reach your late 60s, $1 million will not be enough to retire on (due to inflation). Keep on working and investing for another 15 years.
- Anonymous6 months ago
You aren't yet but if you keep going for another 15-20 years you'll be in good shape for retirement.
People our age are going to need 3-5 mil to retire comfortably.
- DEBSLv 76 months ago
Better than all the other Trolls on here.
- shirtshertshurtLv 66 months ago
Yeah. Minimum length.