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W2R · 06-05-2019, 04:28 PM

Quote:

Originally Posted by HadEnuff

I don't feel wealthy, but I feel very fortunate. With a 3% WR, and my and DW's SS, I can pretty much do anything I want to do. But there is a lot of expensive stuff I neither want, nor need, so I don't feel "wealthy"... Although I really wanted that Honus Wagner baseball card that just sold for a cool $1.2 Million...I wanted it badly.

Here you go! Buy this on Amazon for $12.99, and save $1,199,987.01.

The big advantage of doing this is that you can frame it and put it in your living room to stare at to your heart's content, for hours every day if desired. The expensive one you'd have to keep in a safety deposit box or something and you'd never get to see it. You'd need separate insurance for it too. What a hassle.

ElizabethT · 06-05-2019, 04:44 PM

We have more than double the amount of investments and cash listed in OP, and yet definitely do not feel wealthy. I think we'd both say we feel comfortable, but not wealthy. Which might be precisely why we are where we are, financially? A psychological mindset that skews reality to a degree that we accumulate assets without thinking about what economic bar we're now at?

Then there's that we live in an area where we're surrounded by other 'comfortable'-appearing folk, so we're not standouts in any way, and thus don't think of ourselves as wealthy. Kind of the opposite, actually, considering that we're surrounded by gated communities, slipped boats, and luxury autos while living in an ungated community, owning a travel trailer, and driving 'just' a Prius and a Grand Cherokee ourselves.

I am most markedly aware of the differences in our circumstances when I travel away from the coastal-bubble where we reside. And find myself feeling very thankful in a manner I don't when back home in our bubble.

So perhaps more than a few of us have a case of skewed perspectives.

Rotaflex · 06-05-2019, 04:48 PM

Quote:

Originally Posted by karen1972

Ha funny we both thought the same word at the same time.

“Comfortable” I heard that in the Crazy Rich Asian show?

street · 06-05-2019, 04:52 PM

Quote:

Originally Posted by W2R

Here you go! Buy this on Amazon for $12.99, and save $1,199,987.01.

The big advantage of doing this is that you can frame it and put it in your living room to stare at to your heart's content, for hours every day if desired. The expensive one you'd have to keep in a safety deposit box or something and you'd never get to see it. You'd need separate insurance for it too. What a hassle.

Lol! That would work great and what a savings.

ugeauxgirl · 06-05-2019, 05:04 PM

It's all a matter of perspective I guess. I feel wealthy when I think about it at all. I'm wealthy because I don't have to work anymore if I don't want to. There isn't much that I want that I don't have. And if I really wanted it I could. My life is very full.

Kook · 06-05-2019, 05:11 PM

Quote:

Originally Posted by audreyh1

There is always another higher bar to exceed......

First, my target was 1M
Then, when I got there it was 1.5M
Then....2M
Ditto 2.5 M
The goalposts keep changing.
Perhaps time to kick the field goal?!

NW-Bound · 06-05-2019, 05:17 PM

Quote:

Originally Posted by HadEnuff

I don't feel wealthy, but I feel very fortunate. With a 3% WR, and my and DW's SS, I can pretty much do anything I want to do. But there is a lot of expensive stuff I neither want, nor need, so I don't feel "wealthy"... Although I really wanted that Honus Wagner baseball card that just sold for a cool $1.2 Million...I wanted it badly.

Quote:

Originally Posted by W2R

Here you go! Buy this on Amazon for $12.99, and save $1,199,987.01.

The big advantage of doing this is that you can frame it and put it in your living room to stare at to your heart's content, for hours every day if desired. The expensive one you'd have to keep in a safety deposit box or something and you'd never get to see it. You'd need separate insurance for it too. What a hassle.

$12.99 for a reprint? That's too much. I am not a sports fan, so the card does not do anything for me.

Can you just download the picture and print it out on your printer? I just look at it on my laptop screen, and it's enough. Don't have a working color printer on hand anyway.

unclemick · 06-05-2019, 05:18 PM

Quote:

Originally Posted by NW-Bound

+1

The more you have, the more it takes to feel wealthy.

Investing from 1966 - 2019 I always found portfolio's which outperformed mine - pick your time frame.

Full Auto since 2006 with Vanguard Target Retirement I don't/er try not to look as much.

heh heh heh - without expounding too much - male hormones have some role here - that's my theory and I do look more during football season.

daylatedollarshort · 06-05-2019, 05:18 PM

We live in an area that has gotten more expensive over they years, but I grew up blue collar and kept those spending habits. It is not only what you have in assets and income that determine lifestyle but also optimizing spending and in our case some dumb luck. If we had bought a house in our neighborhood more recently, didn't retire when ACA subsidies were in effect, didn't have a low Prop 13 tax base, hadn't gotten financial aid for college for our kids, shopped locally instead of ethnic markets and outlet stores, didn't have our seat filler memberships, etc. we would have needed to spend easily $2M more in retirement / lifetime spending for the same lifestyle.

I feel wealthy even though we're around some households with very high net worth these days because I still remember what it is like to not have money to fix a beater car to be able to get to a minimum wage job.

ugeauxgirl · 06-05-2019, 05:19 PM

Quote:

Originally Posted by Kook

First, my target was 1M
Then, when I got there it was 1.5M
Then....2M
Ditto 2.5 M
The goalposts keep changing.
Perhaps time to kick the field goal?!

Yes, my DH kept raising the target as we kept passing them. He'd feel comfortable with just a little more- only there's no end to that.

Physics Guy · 06-05-2019, 05:34 PM

Quote:

Originally Posted by RobbieB

According to this 2.3 million of net worth puts you in the top 95%.

Yeah, that's pretty rich!

That's the oddity of saving. As a net worth 2.3 million is pretty rare. But 90k per year is good but not nearly as exceptional. We think of them as basically the same thing most people don't.

NW-Bound · 06-05-2019, 05:40 PM

I am not wealthy, but comfortable.

I have enough to be able to spend the same as when I still worked, if I want. And all this without working, and just putzing around when not traveling or working on DIY projects, is great.

And I am lucky to have a networth significantly higher than that $2.27M, heh heh heh...

But then, I did not retire really early at 30 or 40 like some youngins. It's all fair, heh heh heh...

Ronstar · 06-05-2019, 05:40 PM

Quote:

Originally Posted by street

So just curious, what amount would be wealthy to some of you?

I would say 2.3M is pretty nice stash and would be wealthy to 90 plus percent of the people.

IMO, wealthy would be around 5M. At 2.3M and 4% WR,- that allows less than $100k annual spending. Tough to buy luxury items that the wealthy enjoy on $100k

Physics Guy · 06-05-2019, 05:41 PM

Quote:

Originally Posted by Ronstar

IMO, wealthy would be around 5M. At 2.3M and 4% WR,- that allows less than $100k annual spending. Tough to buy luxury items that the wealthy enjoy on $100k

Free time is a luxury item.

NW-Bound · 06-05-2019, 05:45 PM

If to be able to buy luxury items is rich, then $100K/year does not cut it. My expenses ran over that in past years, and no way I can afford a Hermès bag if my wife wanted one.

And of course my dear wife never wanted something like that. She would not be my wife if she did, heh heh heh...

street · 06-05-2019, 05:51 PM

Quote:

Originally Posted by Ronstar

IMO, wealthy would be around 5M. At 2.3M and 4% WR,- that allows less than $100k annual spending. Tough to buy luxury items that the wealthy enjoy on $100k

Gotcha! Wealth is a different number for most people but I see everyone here as wealthy in one way or another.

street · 06-05-2019, 05:56 PM

Quote:

Originally Posted by NW-Bound

If to be able to buy luxury items is rich, then $100K/year does not cut it. My expenses ran over that in past years, and no way I can afford a Hermès bag if my wife wanted one.

And of course my dear wife never wanted something like that. She would not be my wife if she did, heh heh heh...

Now, NW-Bound I would bet you could splurge just one time, for a Hermès bag for your wife. Now tell us the truth. Lol