u/UnluckyNet2881

58 (M), married (52F) two kids. Spouse and I make ~$200K. I am a project manager and wife is a courtesy clerk. Been steadily contributing to IRA's and 401K's. To put in perspective at end of 2023 we had $915K in retirement. In less than three years we are up another million. Primarily S and P 500 using Backdoor Roth, Roth IRAs. Kids graduating debt free from state school. Lots of sacrifices and living like we make $120K.

Just wanted to share and let people understand what's possible.

For context I am 58(M) middle manager living in Metro Detroit, Michigan. Salary $180K base, AGI ~$210K. $3M in assets, $260K in liabilities so $2.74M in net worth. This puts me in top 10 percentile but I don't feel rich or close to it . $1.3M in 401k; 600k in IRAs, 590K in brokerage, 200k home equity.

To put things in perspective, my index investments have produced over 300K so far this year, net of contributions, and I am up over a million in past 2.5 years due to the MN market and consistent investment. The capital base outweighs contributions 4 to 1.

My daily routines have not changed and capital investments including backdoor Roth are taking on a life of their own.

Just a Midwest based individual contributor in late 50's working in the manufacturing sector. Hope to retire in the next 5 to 7 years. Money in 401K and IRA's. Nothing exotic S and P 500 primarily. $250K left on the mortgage which I hope to pay off before retirement. Headed to bed and back to the office tomorrow (Monday).