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View Poll Results: $300k And You
I'm Doing Just Fine 8 6.56%
A Quarter Or Less 27 22.13%
Less Than Half 15 12.30%
Half 16 13.11%
More Than Half 6 4.92%
More Than Three Quarters 4 3.28%
All That Plus A Bag Of Chips 46 37.70%
Voters: 122. You may not vote on this poll

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Old 03-16-2011, 02:38 PM   #41
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I think if I set my life up to spend that much, I would be so busy dealing with the crap associated with all the extra toys and stuff and or extra travel and hobbies, that I would be exhausted!

Honestly - if you have too much stuff it starts owning you, and you also often have to deal with more people to help manage your big stuff. What a pain!

I am not counting gifts and donations - IMO that is a separate issue. If I really HAD to "spend" that much each year, then half of it would be given away just to keep my life simpler.

I (retired) don't go out of my way to save money or "be frugal". I have always lived below my means but not extremely below my means. I just avoid buying a lot of extra stuff that I know I won't use enough to justify the hassle of owning it.

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Old 03-16-2011, 02:56 PM   #42
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Spend $300K/yr ?

No problem, anyone wants to grubstake me 300K per year can get full accounting of where the money went, for each year funded.
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Old 03-16-2011, 04:05 PM   #43
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Honestly - if you have too much stuff it starts owning you, and you also often have to deal with more people to help manage your big stuff. What a pain!
Sounds like you need a personal secretary.
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Old 03-16-2011, 04:24 PM   #44
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I could spend $300K a year, but it would require some creativity after all these years of not allowing myself to think of the possibilities. So I voted for half. I could think of plenty of ways to get to that number without feeling too guilty.
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Old 03-16-2011, 05:00 PM   #45
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If I somehow stumble across a fortune of $10M, which would allow me to spend a 3% SWR of $300K/yr, I think I can find a way to spend it. No fast cars for me, but travel is or can be expensive.

Would it make me that many times happier (or less unhappy) than I am now? I doubt it!

For example, no amount of money would buy back the real molar I lost 3 years ago due to periodontal disease. Or it would not allow me to hire someone else to sit in the dentist chair to suffer the dental work in my place. It would not buy back my youth. It would not allow me to eat or drink more than I do now, without having to pay the consequences of such indulgence.

Still, if I had that money, I would allow it to trickle down to people who want to provide me with the goods and services, or even to people who simply need that money more than I do.
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Old 03-16-2011, 05:04 PM   #46
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I think if I set my life up to spend that much, I would be so busy dealing with the crap associated with all the extra toys and stuff and or extra travel and hobbies, that I would be exhausted!

Honestly - if you have too much stuff it starts owning you, and you also often have to deal with more people to help manage your big stuff. What a pain!

I am not counting gifts and donations - IMO that is a separate issue. If I really HAD to "spend" that much each year, then half of it would be given away just to keep my life simpler.

I (retired) don't go out of my way to save money or "be frugal". I have always lived below my means but not extremely below my means. I just avoid buying a lot of extra stuff that I know I won't use enough to justify the hassle of owning it.

Audrey
I must admit that I have never noticed the "crap" or the "hassle" that you are worried about. Maybe at some point?
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Old 03-16-2011, 05:08 PM   #47
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When the financial crises hit we reduced our budget(excluding alimony) to a figure quite a bit higher than $300k. In panic mode I think we could have taken it down to $300k. Hopefully I will never know. I certainly do know how lucky we are.

I do not think you sound elitist just someone who worked hard and made a lot of money to enjoy ! Congratulations !
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Old 03-16-2011, 05:17 PM   #48
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I try to think of all the expensive stuff I could own, and it always winds up with me being happier with things that cost less.

The Porsche? Nope. I can get a motorcycle for $11k that'd beat it in everything but a tight enough corner, and I'd enjoy it more.

The yacht? Nope. I'd rather rent a sailboat for a day or weekend here and there.

A mansion? I feel more comfortable in smaller spaces, and would rather have a home of about 1000 square feet or so, or an apartment of 750.

If I could buy the Armani suits, I'd still rather pay $4 for a baggy comfortable shirt at Ross.

I've frugaled myself.
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Old 03-16-2011, 05:19 PM   #49
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Originally Posted by audreyh1 View Post
I think if I set my life up to spend that much, I would be so busy dealing with the crap associated with all the extra toys and stuff and or extra travel and hobbies, that I would be exhausted!

Honestly - if you have too much stuff it starts owning you, and you also often have to deal with more people to help manage your big stuff. What a pain!

Audrey
I've thought that I could use the money would reduce the hassle, not increase it.

Instead of looking for the best price on flights and hotels, I'd just get a first class ticket on the convenient flight and a one bedroom suite at a brand name I can trust. I'd buy a car from a dealer who assumes he provides a loaner (or pick up service) for any service work. I won't sweat whether the furnace needs to be replaced or whether we can get a few more years out of it, just tell the heating guy to put the new one in. .....
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Old 03-16-2011, 05:19 PM   #50
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I try to think of all the expensive stuff I could own, and it always winds up with me being happier with things that cost less.

The Porsche? Nope. I can get a motorcycle for $11k that'd beat it in everything but a tight enough corner, and I'd enjoy it more.

The yacht? Nope. I'd rather rent a sailboat for a day or weekend here and there.

A mansion? I feel more comfortable in smaller spaces, and would rather have a home of about 1000 square feet or so, or an apartment of 750.

If I could buy the Armani suits, I'd still rather pay $4 for a baggy comfortable shirt at Ross.

I've frugaled myself.
Yep, as long as one is not hungry or cold, happiness is a state of mind and cannot be bought.
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Old 03-16-2011, 05:19 PM   #51
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I must admit that I have never noticed the "crap" or the "hassle" that you are worried about. Maybe at some point?
Remember, Audrey was a fulltime RVer for several years and now still spend several months a year on the road. That puts a certain brutal discipline into your desire and capacity for "stuff."
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Old 03-16-2011, 05:21 PM   #52
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$300K is easy to spend. But it's also not so easy.

It's not about the money, it's about the people spending it. And it's not about how much they have, it's about their sense of self-worth.
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Old 03-16-2011, 05:32 PM   #53
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I voted half.
$150K is approximately the gross income I was used to living on when I was married.
The rest I would invest.
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Old 03-16-2011, 05:38 PM   #54
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I would hire someone to cut my grass for sure.
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Old 03-16-2011, 05:39 PM   #55
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I do not think you sound elitist just someone who worked hard and made a lot of money to enjoy ! Congratulations !
You are very kind. I apologize if I am going overboard on this. I checked one of my spreadsheets (of which I have many), and determined that we didn't start spending over $300k/year (excluding alimony and divorce lawyers) until I retired in 2006. Ramped up abruptly then once we had more time and bought another property and finalized the divorce.
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Old 03-16-2011, 05:44 PM   #56
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Remember, Audrey was a fulltime RVer for several years and now still spend several months a year on the road. That puts a certain brutal discipline into your desire and capacity for "stuff."
OK That makes sense.
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Old 03-16-2011, 05:54 PM   #57
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If anyone is troubled as to how to spend a mere $300k per year...

Just think how Charlie Sheen would spend it.
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Old 03-16-2011, 05:54 PM   #58
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I've frugaled myself.
Ooooooh...that sounds interesting.........
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Old 03-16-2011, 06:11 PM   #59
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I could spend $300K the first year, subsequent years would probably be more difficult.
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Old 03-16-2011, 06:14 PM   #60
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I need to build a cottage on my Gulf Islands property here in B.C.... figure its gonna cost 200k minimum - 300k wouldn't be a stretch at all.

DW and I live very well on 36k per year (with a mortgage) so its gonna be tough for us to start writing big cheques for our cottage in a few years.
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