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.?

Question

And we have a joint annual salary of around 140,000 dollars.
Do you think we are pretty financially secure?

Answer 1

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.

Well done!

Answer 2

No. You are poor. People with this kind of money do not ask Y!A this question.

Answer 3

Yes you are. Make sure you investing not just saving.

Answer 4

Dunno how much you spend, what your health condition is, how much insurance you have....

Answer 5

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.

Answer 6

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.

Answer 7

You are in good shape. Given your age, perhaps $3mil will be enough to retire on.

Answer 8

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.

Answer 9

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.

Answer 10

Better than all the other Trolls on here.

Answer 11

Yeah. Minimum length.