Net worth Poll

[Major Tom]

With reference to Danmar and NW-Bound's posts, it does look to me as if some folk here are looking for a reason to pick fault with the rich guy, as opposed to looking for ways to seek common ground and get along with him.

I thought that this particular guy we're talking about was showing a lot of open-mindedness and as well as being willing to admit fault on his part, was ready to praise those of lower income who had saved prodigiously. Some might think that he was flaunting his wealth, but if he was (and I don't think he was), is that any less obnoxious than someone who "flaunts" their extreme frugality?

Besides, if you can't flaunt money issues in an Early Retirement and Financial Independence Community, where can you flaunt 'em?

 

[NW-Bound]

I thought that this particular guy we're talking about was showing a lot of open-mindedness...

Yes, I see your point. I also like to keep an open mind, but then in another thread, I saw him belittling a state U as a "land grant" school for second-class citizens. Makes me wonder if such a person would treat people working for him as servants.

I don't know where I read this, but someone has written that the way he judged someone at a business lunch or dinner was how the other person talked to the waiting staff.

I wonder how someone who treats somebody else with less money as dirt would feel if he in turn was despised by Buffet, Gates, or Ellison? Is that how one value a person? By his net worth?

 

[Moemg]

I thought that this particular guy we're talking about was showing a lot of open-mindedness and as well as being willing to admit fault on his part, was ready to praise those of lower income who had saved prodigiously. Some might think that he was flaunting his wealth, but if he was (and I don't think he was), is that any less obnoxious than someone who "flaunts" their extreme frugality?

Besides, if you can't flaunt money issues in an Early Retirement and Financial Independence Community, where can you flaunt 'em?

I totally agree with you except I think some of the posts ( Now it might be after he was put down ) were condescending . I have never felt that about other posts from the very wealthy posters ( including Danmar or one of the famous Authors who post here ) and there are a few as the survey shows . I think we should all step back and maybe realize that flaunting of wealth or extreme frugality are just as annoying and give the guy a chance .

 

[Danmar]

Agree with the last 4 posts. Thank you. As I have already posted, we should try to find common ground or at least try to understand the point of view of others with different wealth levels. It makes this forum a lot more interesting when we do.

 

[Bestwifeever]

Agree with the last 4 posts. Thank you. As I have already posted, we should try to find common ground or at least try to understand the point of view of others with different wealth levels. It makes this forum a lot more interesting when we do.

Yes, good points above and above. People have different threshholds for what will make them happy or offer financial independence; some achieve whatever threshholds they've set, whether high or low; some overachieved for whatever reason; and others find ways to live within what they end up with even if it turns out not to be what they had targeted. Never fair to begrudge someone's else's choices or results.

It's all personal.

 

[Westernskies]

The average is 6" - 6.9" (15.2 cm - 17.5 cm).

Apparently I did win that birth lottery that everyone keeps talking about....

 

[travelover]

When I find that a thread is getting under my skin, I just put the whole thread on ignore. Similarly, if I find someone is condescending, I just put them on ignore.

Works for me.

 

[clifp]

I hope Andy can find could use for this data >70% millionaires. The forum seems like the perfect place for upscale advertisers to put up a few banner ads. I am tired of the same old ads, I am looking forward to Porsche, Rolex, Mercedes, Tiffany, and American Express black card ads.

Of course once the advertiser realize that we accumulated the high net worth by not buying their crap the gravy train will stop, but maybe Andy can buy us a new faster server or something.

 

[Westernskies]

I hope Andy can find could use for this data >70% millionaires. The forum seems like the perfect place for upscale advertisers to put up a few banner ads. I am tired of the same old ads, I am looking forward to Porsche, Rolex, Mercedes, Tiffany, and American Express black card ads.

Of course once the advertiser realize that we accumulated the high net worth by not buying their crap the gravy train will stop, but maybe Andy can buy us a new faster server or something.

Not to be picky, but you forgot to mention the handmade suits...

 

[Major Tom]

Agree with the last 4 posts. Thank you. As I have already posted, we should try to find common ground or at least try to understand the point of view of others with different wealth levels. It makes this forum a lot more interesting when we do.

I'll drink to common ground.

Actually, I just had a couple of drinks and am now looking for a reason to justify them

 

[RetiredGypsy]

Actually, I just had a couple of drinks before checking the forum and am looking for a reason to justify them

Readily available reasons include:

- It's Saturday. This also applies to Wednesday, Thursday, Sunday, Tuesday, Friday, and Monday. Mark Twain as applied to alcohol.

- I wanna.

 

[Purron]

I hope Andy can find could use for this data >70% millionaires. The forum seems like the perfect place for upscale advertisers to put up a few banner ads. I am tired of the same old ads, I am looking forward to Porsche, Rolex, Mercedes, Tiffany, and American Express black card ads.

I don't think many of us want that stuff. I'm of an age where things like that just doesn't mean much any more. And the financial planning type ads don't appeal to me either. Seems like most of those would target a different audiance - much younger and in need of more guidance than many of us round here.

How about more ads to promote travel and activies after retirement? Or charities? Might just catch my attention. You know, like the the charity Sarah promoted with this wonderful song....

YouTube - Sarah McLachlan - Angel

 

[NW-Bound]

How 'bout ads of "rare single malt scotch whiskies" to target teetotalist connoisseurs like our friend WS here?

 

[obgyn65]

I answered the survey but did not include NPV of SS benefits.

 

[rescueme]

I answered the survey but did not include NPV of SS benefits.

Who does?

 

[obgyn65]

Hello rescueme - to answer your question, I can remember reading other threads where people were debating whether they should include SS benefits or pensions in their net worth calculations.

 

[rescueme]

Hello rescueme - to answer your question, I can remember reading other threads where people were debating whether they should include SS benefits or pensions in their net worth calculations.

I just look at it from a perspective of it can't be "wealth" that can be passed on to another - therefore I don't include it in my net worth.

The only exception to that rule (concerning SS) would be that my DW would get a much higher benefit (mine), assuming I pass first, but then again it would not be part of her net worth.

I've also read of some folks looking at future SS "value" of being worth 25x (the inverse of a 4% withdrawl) if they have not yet started drawing it (which would reduce the expected 30 year forecast draw period). For example, if you received $1,500/mo ($18K/yr) SS at age 62, taken as $18K x 25 = $450,000 it could be used as a "feel good number" of what you have in your retirement stash (assuming you live ). Also, some use that as a reason to have higher equity holdings since that SS income would be considered the same as a bond.

Oh well, to each their own...

Just a side note. DW/me do have an SPIA with a guaranteed period which I do include with our curent net worth, reduced in value each month as we receive our monthly income. The reason I track it as such is that we have a net worth/asset statement that goes to our elder law attorney each year, that they know the total amount of assets we hold for estate liquidation (to be added to an SNT trust for our disabled son). I guess if they consider it an asset to be counted, it is so. He's never asked me to list SS as an asset ...

 

[Westernskies]

How 'bout ads of "rare single malt scotch whiskies" to target teetotalist connoisseurs like our friend WS here?

Nah, I've switched my focus back to to LBYM, and have moved on to not drinking that fancy cognac you're referring to... (Although the financial planning ads showing the dignified, well-dressed 50-something hedge fund manager /lawyer types getting off their private jet with their [-]mistress[/-] [-]trophy wife[/-] surgically enhanced spouse and $5000 luggage to meet a limousine would have equal appeal...)

 

[kcowan]

I resent the big spread between 2-5 million. Why not give us credit for achieving an important milestone in between. Poll must have been designed by a member of the lumpen proletariat!

 

[Nords]

I resent the big spread between 2-5 million. Why not give us credit for achieving an important milestone in between. Poll must have been designed by a member of the lumpen proletariat!

Well, once we all include the present value of our future Social Security benefits then we'll leapfrog right over that big spread...

Or else the first million's the hardest. After that the hedonic treadmill kicks in and it's hardly worth paying attention until it gets over $5M.

 

[HawkeyeNFO]

.... data >70% millionaires. ...

When you put it that way, it reminds me of how far I need to go. I feel poor now, too!

 

[NW-Bound]

Nah, I've switched my focus back to to LBYM, and have moved on to not drinking that fancy cognac you're referring to... (Although the financial planning ads showing the dignified, well-dressed 50-something hedge fund manager /lawyer types getting off their private jet with their [-]mistress[/-] [-]trophy wife[/-] surgically enhanced spouse and $5000 luggage to meet a limousine would have equal appeal...)

Oh, my friend, my friend WS...

How do you compare a "conspicuous consumption" type you referred to above, to a joy one enjoys in solitude, and out of public view?

It is too bad you have given up alcohol (and I do not know why), but as we both have a place up "in the mountain", perhaps you can relate to something that I enjoy. Up there, I would pour myself a shot, put on this instrumental music, and while the flurry of snow was falling outside, with my hand cupping the glass, closed my eyes in order to concentrate on the liquor with my senses of taste and smell (when my hay fever was not acting up, that is)...

And no, I do not drink really fancy stuff, and am no real connoisseur, but I do appreciate the difference of the $150 XO to the lesser fare.

Maybe one day, you will reconsider and rediscover the joy of drinking... And I truly do not care if it is not Cognac.


PS. I usually drink lesser grades than the $150 XO. The latter, I have never bought myself, but have always been bought by my wife. She loves me.



YouTube - Tango - Flamenco©

 

[Purron]

PS. I usually drink lesser grades than the $150 XO. The latter, I have never bought myself, but have always been bought by my wife. She loves me.

You gotta fine lady there NW. Treat her right. Give her a foot massage once in a while

 

[NW-Bound]

Oh, I have been treating my wife right, I think.

Have I told the story of how she went home crying, couldn't take it anymore at her megacorp after 25 years, and practically walked off the job? And I supported her?

 

[Purron]

Oh, I have been treating my wife right, I think.

Have I told the story of how she went home crying, couldn't take it anymore at her megacorp after 25 years, and practically walked off the job? And I supported her?

Don't recall that one NW. Please do tell the story. I'd love to hear it. I adore stories about people supporting each other