 |
|
Are you rich? How much of a nestegg do you need to join the true elite.
03-08-2008, 08:21 PM
|
#1
|
|
Recycles dryer sheets
Join Date: Sep 2007
Posts: 106
|
|
|
|
|
03-08-2008, 08:37 PM
|
#2
|
|
Recycles dryer sheets
Join Date: May 2007
Posts: 122
|
Couldn't read the whole article - appears you have to be a subscriber. Can you post the full text?
|
|
|
|
|
03-08-2008, 09:02 PM
|
#3
|
|
Recycles dryer sheets
Join Date: Sep 2007
Posts: 106
|
 Quote:
Originally Posted by bots2019
Couldn't read the whole article - appears you have to be a subscriber. Can you post the full text?
|
Lets try it again. http://online.barrons.com/article_pr...520820695.html
|
|
|
|
|
03-08-2008, 08:39 PM
|
#4
|
|
Thinks s/he gets paid by the post
Join Date: Dec 2006
Location: Lone Star State
Posts: 4,378
|
Well, I couldn't read the whole article, didn't want to subscribe, but I can tell you I'm not that rich. 
__________________
......ibyoig......
|
|
|
|
|
03-08-2008, 08:42 PM
|
#5
|
|
Thinks s/he gets paid by the post
Join Date: Feb 2004
Posts: 2,612
|
"$10 million investment portfolio"
I may only see that if I go back to working double time and do that until age 65.
Ya, right.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
|
|
|
|
|
03-08-2008, 09:04 PM
|
#6
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 10,802
|
Quote:
|
More and more rich people certainly believe they need at least $25 million. In a recent survey by Chicago-based Spectrem Group, 25% of affluent folks said it takes $25 million to be rich, and another 8% said $100 million. Those two groups combined weren't all that much smaller than the 45% who cited $5 million. (from Barrons Article
|
Ok guys, get off your duffs and get to work!
Ha
__________________
Above all, humans are political animals.
Nota bene: I am either a moron or an idiot. So don't pay any attention to anything I say or you are one too. Please consult your financial advisor, astrologer or proctologist for whatever it may be that you are seeking.
|
|
|
|
|
03-08-2008, 09:06 PM
|
#7
|
|
Thinks s/he gets paid by the post
Join Date: Dec 2006
Location: Lone Star State
Posts: 4,378
|
Quote:
Originally Posted by haha
Ok guys, get off your duffs and get to work!
Ha
|
You're a funny, funny man. 
__________________
......ibyoig......
|
|
|
|
|
03-08-2008, 09:03 PM
|
#8
|
|
Thinks s/he gets paid by the post
Join Date: May 2007
Posts: 2,492
|
We are certainly not rich right now, though there is a slight chance to make it to $10 millions one day if we work until 65 and keep making the kind of money we are making now. Of course if $10 million dollars is not "rich" today, then it surely won't be in 32 years. And since we plan on retiring early we probably will never accumulate anywhere near that amount of money. But you know what, it's OK, I don't strive to belong to that kind of "elite". I would be happy with a portfolio large enough to afford me a nice but non-obstentatious lifestyle. But I would like to say that even if one day I have a portfolio in the $10 million category, I would without a doubt keep my money at Vanguard and skip the fancy private banker. My cousin's husband is a private banker in Switzerland and the more he talks about his world and the less I want to belong... I guess I am too darn cheap...
Last edited by FIREdreamer; 03-08-2008 at 09:24 PM.
|
|
|
|
03-08-2008, 11:06 PM
|
#9
|
|
Moderator Emeritus
Join Date: Feb 2004
Location: Oahu
Posts: 17,531
|
Quote:
Originally Posted by FIREdreamer
Of course if $10 million dollars is not "rich" today, then it surely won't be in 32 years.
|
I think I could handle the first million, but WTF would we do with the extra nine?!?
__________________
*
*
For more info see "About Me" in my profile.
|
|
|
|
|
03-08-2008, 11:09 PM
|
#10
|
|
Moderator
Join Date: Jan 2007
Location: New Orleans
Posts: 10,406
|
Being regarded as rich doesn't appeal to me nearly as much as being retired and doing what I want with the rest of my life.
__________________
"Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harborless immensities." - - H. Melville, 1851
|
|
|
|
|
03-08-2008, 11:27 PM
|
#11
|
|
Recycles dryer sheets
Join Date: May 2007
Posts: 122
|
Quote:
Originally Posted by Want2retire
Being regarded as rich doesn't appeal to me nearly as much as being retired and doing what I want with the rest of my life.
|
Amen! 
|
|
|
|
|
03-09-2008, 11:03 AM
|
#12
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Location: DFW
Posts: 6,334
|
Quote:
Originally Posted by Nords
I think I could handle the first million, but WTF would we do with the extra nine?!?
|
Need some bling for your surfboard? 
__________________
Have Funds, Will Retire
"...but do feel free to assert your duly noted opinion on this subject again without benefit of reference or provision of additional information..."
|
|
|
|
|
03-08-2008, 10:54 PM
|
#13
|
|
Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 2,713
|
didn't read/can't access, but I saw the front blurb. Apparently "even [this] caste is getting crowded." !!!
|
|
|
|
|
03-09-2008, 12:06 AM
|
#14
|
|
Recycles dryer sheets
Join Date: Dec 2005
Posts: 54
|
Net worth hit $2.1M in December, but still can't get the wife to agree on a target for when to jump. I always wondered how people made it all the way to $5M or $100M without deciding to retire way before then. I can't imagine bothering to go over $5M. My target was always $2.3M.
__________________
Retire by 2010 or bust.
|
|
|
|
|
03-09-2008, 10:29 AM
|
#15
|
|
Thinks s/he gets paid by the post
Join Date: Feb 2004
Posts: 2,612
|
Quote:
Originally Posted by Slarty
...I always wondered how people made it all the way to $5M or $100M without deciding to retire way before then...
|
I've wondered that myself many times.
After you made a few million, what's the point of wanting more than you will ever spend? Why not relax, enjoy the short few years of life you have left and give someone else a chance to do the same?
For some, it's never enough.
For others, it's greed.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
|
|
|
|
|
03-10-2008, 08:45 PM
|
#16
|
|
Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 1,118
|
Quote:
Originally Posted by retire@40
For some, it's never enough.
For others, it's greed.
|
Sorry, you've lost me there. What is the difference between these two groups?
__________________
"There is no more dreadful punishment than futile and hopeless labour" - Albert Camus
"Why should I let the toad work squat on my life? Can't I use my wit as a pitchfork and drive the brute off?" - Philip Larkin
|
|
|
|
|
03-10-2008, 07:55 AM
|
#17
|
|
Full time employment: Posting here.
Join Date: Jul 2005
Posts: 503
|
Quote:
Originally Posted by Slarty
Net worth hit $2.1M in December, but still can't get the wife to agree on a target for when to jump. I always wondered how people made it all the way to $5M or $100M without deciding to retire way before then. I can't imagine bothering to go over $5M. My target was always $2.3M.
|
There are many many people throughout the world who think your # is as over the top as you think about 5 or 100 mil. I figure it is normal human nature, and no one is right or wrong.
Another of my silly observations: I'm always kinda of surprised at when those few people come on to this forum with quite high net worths (I'm not even remotely in that category) and get poopooed away fairly quickly even if on a very subtle level. Human nature for those with similar "fortunes" and goals in life to band to together.
Last edited by TargaDave; 03-10-2008 at 08:12 AM.
|
|
|
|
|
03-09-2008, 12:08 AM
|
#18
|
|
Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 2,875
|
Here is another link to a similar article: The Wealth Report - WSJ.com : A Rich Person's Definition of Rich
Richness is relative. Compared to the rest of the world, even the "middle" class in the U.S. is probably at the 90% percentile.
|
|
|
|
|
03-09-2008, 06:58 AM
|
#19
|
|
Thinks s/he gets paid by the post
Join Date: Jan 2008
Location: Chicagoland
Posts: 1,518
|
Never expected to be rich, I'm just looking for healthy, comfortable & reasonably secure. Aren't rich and ER somewhat mutually exclusive anyway (this audience, myself included)?
__________________
Retiring May 2010 --- maybe.
You only live once...
If a nation expects to be ignorant and free, in a state of civilization, it expects what never was and and never will be. Thomas Jefferson
|
|
|
|
|
03-09-2008, 07:05 AM
|
#20
|
|
Thinks s/he gets paid by the post
Join Date: Dec 2007
Location: WV Panhandle
Posts: 1,781
|
Quote:
Originally Posted by Spanky
Richness is relative. Compared to the rest of the world, even the "middle" class in the U.S. is probably at the 90% percentile.
|
That's about it. A good portion of the world's population would be happy to call the shed in our back yard "home".
We have a nice home, enough to eat, clothes to wear, a pickup truck and a car, a fishing boat and a steady income. What else does one need?
A Citation jet and a yacht would be nice, but I don't want them bad enough to work that hard.
__________________
Retired seven years ago at age 52. Then decided to get a job. For a while. Or maybe not. I'll think about it.
|
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
| Thread Tools |
Search this Thread |
|
|
|
| Display Modes |
 Hybrid Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
