Home equity doesn't really help you when it comes to retirement or kids' college savings. You make nothing off that equity. They call it dead equity for a reason. Paying a house off early is a good investment for a lot of people. For the people here in this discussion on Texags, it would be pretty easy to financially show that it is not the best way to build tangible net worth and liquidity.

This article is describing retirement next-eggs...truly scary statistics but not shocking.

How does your nest egg compare

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Home equity doesn't really help you when it comes to retirement or kids' college savings. You make nothing off that equity. They call it dead equity for a reason. Paying a house off early is a good investment for a lot of people. For the people here in this discussion on Texags, it would be pretty easy to financially show that it is not the best way to build tangible net worth and liquidity.

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Not true. Maybe not dollar for dollar, but many downsize. My parents, near retirement age, are about to do exactly that. I have no plans of being in my current house past 60 or 70 and will cash out a lot.

Scary article. $250k at 45 is not nearly enough which is what they used as their threshold. You need to have much more than that by then or you will be downgrading your lifestyle in retirement.

Also, everyone keeps talking about how everyone is working longer to make up for this but just read an article showing that the average retirement age has not risen at all. Could be something inside the data explaining that though.

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This article is describing retirement next-eggs...truly scary statistics but not shocking.

How does your nest egg compare

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Wish the article linked to the survey, would be interesting to see if it goes into average savings by age group (and then of course to compare myself to the average)

This link came in my email today...

https://communications.fidelity.com/wi/2012/howdoicompare/

NEAT!

As others have stated the millionaire next door formula doesn't work for people under about 30. Wife and I are definitely ahead of the curve but we're not quite at the formula amount.

Someone find me a quick formula for 20-somethings

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As others have stated the millionaire next door formula doesn't work for people under about 30. Wife and I are definitely ahead of the curve but we're not quite at the formula amount.

Someone find me a quick formula for 20-somethings

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I'm making this up from general knowledge but for 20-somethings if your net worth isn't in brackets you are probably in the top 10%.

Sadly true. We were both blessed with parents who paid 100% of our tuition.

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This link came in my email today...

https://communications.fidelity.com/wi/2012/howdoicompare/

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As a country we are screwed.

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This link came in my email today...

https://communications.fidelity.com/wi/2012/howdoicompare/

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As a country we are screwed.

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meh, less screwed than the rest of the world.

Not sure if this is already posted
Avg net worth for the upper middle class