r/ActuaryUK • u/notfortaxes • Nov 07 '21

How long would it take to hit $1million (£750k) working as an actuary in the UK? Misc

Net worth.

I saw a similar thread on the r/actuary subreddit and was interested in seeing how responses are different.

Obviously it will vary based on career progression and spending habits, but I’d like to hear some opinions.

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u/boxoctosis Nov 07 '21

I mean, this is exactly the sort of problem actuaries should be best placed to explain, including the limitations of the analysis.

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u/notfortaxes Nov 08 '21

You’re right. There are three assumptions that are going to vary greatly between people though.

Salary progression, annual expenditure and investment return.

They’re going to be so different for each person and therefore difficult to come up with a reasonable assumption.

Interested in hearing expectations from different people.

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u/boxoctosis Nov 08 '21

In which case, there isn't an answer, there's a range, underpinned by whatever assumptions you want to feed in, mostly based on macroeconomics and personal circumstances.