Join Early Retirement Today
View Poll Results: Everyone has a different view of what represents nominal wealth, but whatever your net worth is, do
Yes 121 54.75%
No 100 45.25%
Voters: 221. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
Old 06-01-2007, 06:51 AM   #101
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,720
Send a message via Skype™ to kcowan
I think everyone needs to remind us where they are when they describe their environment. Thanks.

We are currently staying in an executive home in San Diego on a home swap. While the trappings of life are superior in many ways to our home (5BR, 4-car garage, big lot, all the toys), we cannot walk or bike anywhere meaningful. This stay is 3 weeks and is busy with trips to local attractions. But we would not trade even with our place in Vancouver.

(This is not a knock on San Diego because it has comparable living areas to what we have in Vancouver but to the suburban versus urban lifestyle. We are proud of our low ecological footprint since downsizing.)
__________________

__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 06-01-2007, 07:46 AM   #102
Thinks s/he gets paid by the post
tryan's Avatar
 
Join Date: Mar 2005
Posts: 2,449
Real "wealth" for me will always more than I have. Not that there's anything wrong with that ... simply enjoy the chase better than the catch.
__________________

__________________
FIRE'd since 2005
tryan is offline   Reply With Quote
Old 06-01-2007, 08:52 AM   #103
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 5,459
Here's another metric for ranking:
Graphic: How Class Works - New York Times

Lahr de Dahr - Oim auf to play de Grahnd Peeanho!
__________________
calmloki is offline   Reply With Quote
Old 06-02-2007, 12:16 PM   #104
Thinks s/he gets paid by the post
SteveR's Avatar
 
Join Date: Jul 2005
Posts: 2,803
Quote:
Originally Posted by calmloki View Post
Here's another metric for ranking:
Graphic: How Class Works - New York Times

Lahr de Dahr - Oim auf to play de Grahnd Peeanho!
Interesting.

I ranked in the 90th percentile in all by my former career. Management in major corporations don't rank very high in the prestige column. No big deal now.

I didn't see Early Retiree in the group but I would think that; at least on this board; it would rank up at the top.
__________________
Work? I don't have time to work....I'm retired.
SteveR is offline   Reply With Quote
Old 06-02-2007, 01:22 PM   #105
Recycles dryer sheets
 
Join Date: May 2005
Posts: 130
I feel wealthy financially, but my wife died very young and we never had kids, so I keep hoping to be a father one day. Early retirement is great, but there aren't many single 30-something women to play with because they are all at work.
__________________
Free_at_49 is offline   Reply With Quote
Its all relative
Old 06-02-2007, 01:57 PM   #106
Confused about dryer sheets
 
Join Date: Jun 2007
Posts: 5
Its all relative

When I was a small child I went grocery shopping with my mom on Saturday mornings and we always had a list and had only a certain amount - so each time something went into the cart I had to add it up to make sure it didn't get to our budgeted amount - which was less than $15.00 for the week. My mom worked two jobs and many times sent me to neighbors to borrow $5 until payday. Wealth to me means that I can go into a grocery store and buy anything I want without having to match it to a list and tally the cost.

After 40 years of working, significantly more than a 40 hour week, I am now retired, after having put five children through college (I could not afford to go) own a home in the city outright, have one mil plus in investments and a solid pension and health insurance.

But to me if it all went away tommorrow - as long as I have healthy children and my wonderful husband - I could live in a one room cabin with a fireplace and books and my stamp collection and be perfectly happy.

I wouldnt have changed my life for anything. The thing is that being poor in the 50's and 60's didn't matter - in fact we didn't really know we were poor - we just knew we had to live modestly.
__________________
gnorris51 is offline   Reply With Quote
Old 06-02-2007, 02:26 PM   #107
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Quote:
Originally Posted by calmloki View Post
Here's another metric for ranking:
Graphic: How Class Works - New York Times

Lahr de Dahr - Oim auf to play de Grahnd Peeanho!
Here is the result - I still do not feel wealthy but fortunate.
Attached Images
File Type: jpg my_rank.jpg (7.0 KB, 91 views)
__________________
Spanky is offline   Reply With Quote
Old 06-02-2007, 03:01 PM   #108
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,034
Okay here is mine
Occupation 40% -damned nursing
Education 91 %
Income 78%
Wealth-98%

I suddenly feel wealthier !
__________________
Moemg is offline   Reply With Quote
Old 06-02-2007, 04:32 PM   #109
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,100
Interesting little interactive toy. For me here are the results. I'm pleased I feel wealthy 'cos these results would have made feel guilty

Occupation 77%
Education 91%
Income 99%
Wealth-98%
Average 91%
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is offline   Reply With Quote
Old 06-02-2007, 05:21 PM   #110
Full time employment: Posting here.
tangomonster's Avatar
 
Join Date: Mar 2006
Posts: 756
Here's mine:

Occupation 50% (social services)
Education- 97
Income- 69
Wealth- 98
Average- 78

Depressing because while income was in the upper half, you can see there was a big discrepancy between education (a master's degree) and salary.
But I do take pride in the 98th percentile for wealth, since it is so much higher than income.
__________________
tangomonster is offline   Reply With Quote
Old 06-02-2007, 06:29 PM   #111
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,887
Wow! You guys are all doing really well. My results were,

Occupation: 78th percentile
Education: 99th percentile
Income: 91st percentile
Wealth: 85th percentile
AVERAGE: 88th percentile

I expected my wealth to be on the low end, because I am still gaining momentum after starting over with a negative net worth 9.5 years ago. But I am catching up fast. I was surprised that my income came out to be so high, considering that the cost of living is so much lower in the South than in some other parts of the country.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 06-02-2007, 06:59 PM   #112
Confused about dryer sheets
 
Join Date: Jun 2007
Posts: 5
Quote:
Originally Posted by Spanky View Post
The new standard definition of financial wealth is having assets of over $5 million USD.
Interesting. Where does this new $5M number come from? Anyone have a reference? I agree -- $2M is more than enough for most people to retire on.
__________________
fin_indie is offline   Reply With Quote
Old 06-02-2007, 07:29 PM   #113
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,100
Quote:
Originally Posted by tangomonster View Post
Depressing because while income was in the upper half, you can see there was a big discrepancy between education (a master's degree) and salary.
But I do take pride in the 98th percentile for wealth, since it is so much higher than income.
The test is about "class" rather than wealth and I hope to retire on 25% of my current gross income so I may have to drop down this in this class ranking.

Maintaining appearances which is why so many with high incomes just have to keep on working to maintain their status.

Pretentious, moi?
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is offline   Reply With Quote
Old 06-02-2007, 07:57 PM   #114
Moderator
bssc's Avatar
 
Join Date: Dec 2005
Posts: 9,929
Occupation 83%
Education 91%
Income 97%
Wealth-98%
Average 92%

Well, the income is going to go down when I retire. I guess that I will be less classy.
__________________
bssc is online now   Reply With Quote
Old 06-02-2007, 07:58 PM   #115
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,034
Quote:
Originally Posted by tangomonster View Post
Here's mine:

Occupation 50% (social services)
Education- 97
Income- 69
Wealth- 98
Average- 78

Depressing because while income was in the upper half, you can see there was a big discrepancy between education (a master's degree) and salary.
But I do take pride in the 98th percentile for wealth, since it is so much higher than income.
I think we both should be super proud since our incomes were in the lower levels but our wealth is up in the 98% area .Great work ! Now pat yourself on the back !
__________________
Moemg is offline   Reply With Quote
Old 06-02-2007, 07:59 PM   #116
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
I do not recall where I read it. A million dollars in the 19th century adjusted for inflation are roughly about $5 million dollars today.
__________________
Spanky is offline   Reply With Quote
Class???
Old 06-02-2007, 08:24 PM   #117
Recycles dryer sheets
two4theroad's Avatar
 
Join Date: Aug 2006
Location: Texas
Posts: 216
Class???

Occupation 39%
Education- 55%
Income- 97%
Wealth- 98%
Average- 72%

I guess we did OK for ourselves, FIRE at 48/57.
Stating the obvious, class is not money.Lots of moneyed people have no class.....
__________________
Women and cats will do as they please, and men and dogs should relax and get used to the idea.<br />-Robert A. Heinlein
two4theroad is offline   Reply With Quote
Old 06-02-2007, 08:45 PM   #118
Moderator Emeritus
Khan's Avatar
 
Join Date: Aug 2006
Location: Pine Island, Florida
Posts: 6,868
Send a message via AIM to Khan
occupation - 65
education ---91
income ------84
wealth ------85
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
Khan is offline   Reply With Quote
Old 06-03-2007, 01:51 AM   #119
Full time employment: Posting here.
old woman's Avatar
 
Join Date: Dec 2005
Posts: 551
I am not really wealthy but voted yes anyhow. Last Christmas I was able to justify giving away $5,000 to a nephew. He was having problems, sick wife out of work for months, living on credit cards. He was talking of selling the car maybe the house if she didn't get back to work soon. I thought and figured and thought a while more and decided to surprise him with a check for Christmas. I never spend money, I am cheap, very careful but I decided I really didn't need to not spend. My net worth has gone up over 65K since Christmas some days it goes up over 2K in a single day. I don't really believe it yet, I can see it go down thousands in a day too but now I have over 400K invested so with any luck at all it can go up 40K a year not counting the 20K I earn more than I spend so even a bad year I am increasing net worth by more than my cost of living.
Today my 80 year old mother tells me she needs surgery on her hip, she can't walk without a great deal of pain. I could quit my job to take care of her if needed, I have over 200 hours of vacation saved and offered to use it to take her to the hospital but I could afford to quit working I think.
Giving away the money at Christmas really makes me feel decadently rich, I want to do it again. His wife got back to work and he got lots of overtime so completely recovered financially just as he thought he needed to stop his 401K.
__________________
old woman is offline   Reply With Quote
Old 06-03-2007, 09:00 AM   #120
Full time employment: Posting here.
 
Join Date: Jan 2007
Posts: 854
Quote:
Originally Posted by old woman View Post
Last Christmas I was able to justify giving away $5,000 to a nephew.
snip
Giving away the money at Christmas really makes me feel decadently rich....
What a great story. What a great description.
__________________

__________________
spncity is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
What's it take to feel FI Triumph Hi, I am... 3 04-29-2007 10:45 PM
Does anyone feel jealousy from friends/family/others? FatBoy71 FIRE and Money 92 02-25-2007 10:54 AM
Anyone feel better in retirement ? Empty Pockets Health and Early Retirement 29 01-16-2007 07:45 PM
should I feel quilty aimhigh FIRE and Money 31 12-28-2005 08:55 PM
Net Worth $1.6m @ 51 I don't feel rich - explain that! dex FIRE and Money 49 10-27-2005 10:05 AM

 

 
All times are GMT -6. The time now is 08:40 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.