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Old 08-23-2007, 11:48 AM   #41
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I have enough money and enough sense now that I realize that if I had a million dollars I wouldn't do or buy anything that I wouldn't right now. Despite this, I still find myself thinking / saying, "if I had a million dollars I'd. . ." The most recent one was "If I had a million dollars I'd buy one of those high-def TiVos." Does everyone else do this too? Has anyone come up with a better phrase than "if I had a million dollars" to express this sort of thinking?
I have a habit of doing the same thing sometimes. Maybe not a million dollars, but I'll tend to set financial goals and think that I might do such-and-such once I achieve them. But then, once I cross that financial threshold, nothing really changes. I'm still just the same person I always was.

I moved back in late 2003, but didn't get my condo on the market until late 2004. Before I started renovations on it, I remember calculating that I might actually clear $35-40,000 on it. That was about the time the Chrysler 300/300C came out, and I was thinking that I might "reward" myself by buying one once the condo sold. Well, once it was said and done, I walked away with about $76,000 from selling that condo (by the time the mortage, 2nd mortgage, rennovation costs, etc were factored in). So I could've easily blown my money on that 300C and had about $40K left over. But I didn't....just went ahead and invested all of the profits.

Basically, if I want something bad enough, I'll probably buy it when I really want to, rather than waiting for some financial goal to "reward" myself.
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Old 08-23-2007, 12:53 PM   #42
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DW and I will ER sooner definitely. Maybe save us 8 to 9 years.
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Old 08-23-2007, 01:42 PM   #43
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I just tell myself I'll wait until I'm FI to buy whatever item I'm looking at. I imagine myself 17 yrs from now buying anything I want because I was smart and made some sacrifices when I was young.
Good for you. I retired last year at 48 after a lifetime of hard-wired LBYM, and
now can buy pretty much anything I want. My wants tend to be small - a new mp3
player, camera, $300 bicycle, printer, dvd drive, Starbucks whenever I want, etc -
but I never have to think about the cost anymore. It was definitely worth it.
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Old 07-12-2011, 01:08 PM   #44
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Forget the fancy cars or big house, I'd give corporate america the double middle finger as I'm running out the door! I would partake in a job that satisfies MY dreams and not be stuck in a job that pays so well, that I'm handcuffed to my darn paycheck.
Love it! I need help identifying what will be my "semi retirement gig". I'm just south of 2 million in savings... I am 46, single (but have my spousal equivalent... she has her own finances and we share a household budget of about 3K a month), with no kids.

I make $45 an hour as an IT consultant... if I could find something that pays $20 an hour and I enjoy doing it full time... I would blow this popsicle stand.
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Old 07-12-2011, 01:49 PM   #45
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As I mentioned elsewhere, I've been forcing myself to buy stuff that makes my life better. That poverty mindset has to be smacked back a little.

I'm going to have to start replacing shoes/clothes/sheets/towels fairly soon; they are simply wearing out. You know that moment when you pull on a sheet to fold it and it rips?
There is much wisdom in this.
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Old 07-12-2011, 08:33 PM   #46
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I'm just south of 2 million in savings... I am 46, single (but have my spousal equivalent... she has her own finances and we share a household budget of about 3K a month), with no kids.
You could live on 1.8% withdrawn from your savings. That's a safe withdrawal rate for any time frame. Why do you need any semi-retirement gig at all?
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Old 07-12-2011, 08:52 PM   #47
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If I had a million dollars... i'd wonder why I worked so much longer than I needed to. I will never be a millionaire because there's no reason I need that much money. I will retire long before I reach a million dollars unless I get some kind of unexpected windfall.
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Old 07-12-2011, 08:55 PM   #48
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I'm just south of 2 million in savings... I am 46, single (but have my spousal equivalent... she has her own finances and we share a household budget of about 3K a month), with no kids.
You could live on 1.8% withdrawn from your savings. That's a safe withdrawal rate for any time frame. Why do you need any semi-retirement gig at all?
even less than 1.8% since he isnt responsible for the entire $3k/month
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Old 07-12-2011, 09:01 PM   #49
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A million ain't what it used to be. For me it's

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If I had as much as I did once. Shoulda gone to cash!
Then again, that was the top of the bubble and I still have 50% more than when I decided I had enough in 2007.
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Old 07-12-2011, 09:24 PM   #50
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For those that has a million, is that combine you and spouse? or each?
Yea, it makes a pretty big difference if one of you gets the "itch".
You got THAT right. DW and I have well over $1MM between us, with savings and real estate. We were getting to the point where we would have been reasonably comfortable once our teenagers got through college.

But DW recently decided she didn't want to be married to me any more, and she's walking with at least half our net worth. Plus now I have to look at setting up my own house &etc., enough to house 2 teenagers half-time. And I may be looking at a lonely retirement instead of spending my golden years with my best friend. So not only is my heart getting ripped out and stomped on, my finances and my retirement dreams have taken a major hit as well.

So make sure you invest in your relationship while you're investing your savings. It's a lot more valuable and a lot more painful to lose.
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Old 07-12-2011, 10:22 PM   #51
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Sorry to hear that, Gary. Divorce is a nightmare.

However, I am happy to report that there is life after divorce... it does take time but you can recover. You can recover your assets, and find someone, after a while. First your heart needs time to mend.
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Old 07-12-2011, 10:30 PM   #52
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Love it! I need help identifying what will be my "semi retirement gig". I'm just south of 2 million in savings... I am 46, single (but have my spousal equivalent... she has her own finances and we share a household budget of about 3K a month), with no kids.

I make $45 an hour as an IT consultant... if I could find something that pays $20 an hour and I enjoy doing it full time... I would blow this popsicle stand.
If you make $45/hr, and you have ca. $2mm saved, you are one advanced saver. Congrats.

Ha
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Old 07-12-2011, 10:35 PM   #53
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You got THAT right. DW and I have well over $1MM between us, with savings and real estate. We were getting to the point where we would have been reasonably comfortable once our teenagers got through college.

But DW recently decided she didn't want to be married to me any more, and she's walking with at least half our net worth. Plus now I have to look at setting up my own house &etc., enough to house 2 teenagers half-time. And I may be looking at a lonely retirement instead of spending my golden years with my best friend. So not only is my heart getting ripped out and stomped on, my finances and my retirement dreams have taken a major hit as well.
At least from now on, you will tend to fold 'em instead of holding them.

My divorce in my 60s was a bummer in every way, but it sure has cleared my head about a number of confusions that I formerly held.

I refuse to even do a sleepover with a woman lest I get attracted to that whole domestic thing.

Ha
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Old 07-12-2011, 11:25 PM   #54
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Has anyone come up with a better phrase than "if I had a million dollars" to express this sort of thinking?
Yes - if I had 5 million dollars...

If I had a million dollars I'd have twice what I have now and I'm doing just fine so a million would last me 3 retirements!

When I was a kid we'd say "if I had a million dollars I'd buy a new hinney cuz mine is cracked", 10 year olds jeesh!
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Old 07-13-2011, 01:08 AM   #55
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Divorce at any age is rough but especially after many years of marriage. My divorce was bad in 1991 but it finally gave me the freedom to enact my financial desires which allowed for ER. Otherwise, I would still be w*rking well into my later years or die of a heart attack along the way. Divorce with kids really sucks and the scars will be there on everyone for a while. Hang in there...things will eventually look much better.
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Old 07-13-2011, 01:15 AM   #56
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Love thread evolution. Where in the OP is the "D word" mentioned?
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Old 07-13-2011, 04:04 AM   #57
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If I had another million dollars I would use more of this money to help those in need. For example, I would buy a few used RVs to be used as mobile clinics or shelters in Central America.
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Old 07-13-2011, 07:24 AM   #58
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If I had another million dollars I would use more of this money to help those in need. For example, I would buy a few used RVs to be used as mobile clinics or shelters in Central America.
Ever considered setting up a charitible organization to do this? Who knows, you might get used RVs donated. I bet the RV market is depressed and the chances of someone wanting to unload one for the tax deduction, or to help the cause, is quite possible.
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Old 07-13-2011, 08:39 AM   #59
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I usually say, "if i win the lottery"...which of course won't happen, since I don't play.
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Old 07-13-2011, 08:39 AM   #60
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GREAT idea, Purron. Obgyn, there's no reason you have to do this by yourself. Open it up to others and you may find you can multiply your results far beyond what you could do with another million.
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