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View Poll Results: Do you or you as a legal couple have =>$5million?
Yessir 37 12.76%
No, and that is OK 253 87.24%
Voters: 290. You may not vote on this poll

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Old 07-23-2013, 04:03 PM   #21
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Good question. I think that real estate in general as well as 401Ks are usually not considered "investable assets". But in the context of this poll, I don't know.
I sure would not have thought of some of these questions. Yes, real estate not for personal use is an invested asset. And yes, tax deferred or tax free retirement accounts, etc, are invested assets.
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Old 07-23-2013, 04:24 PM   #22
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... if it is a reliable indicator ....
Out of the 100's of folks who participate on this forum, at this moment ten have said that they (including possibly a second person) have $5M or more of investible assets.
You seem to have missed a portion of what I wrote.

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... if ....
No self-selected poll can be considered 'reliable'.
You too.

Seriously, I think it shouldn't be too much of a stretch to think that the typical member of this forum is an outlier.

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I guess if I took a poll of height on a College Basketball Player forum, it would also show that they are not of typical height either - pretty much the same thing.
Precisely. However, I bet if we compared this forum to another personal finance forum I frequent, the numbers would be different - the difference between a place with many who can seriously think about ER and a place where many are wondering whether they'll ever be able to retire. Like you said... basketball players are tall.
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Old 07-23-2013, 04:25 PM   #23
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Occupy http://www.early-retirement.org !! Tax the posters.
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Old 07-23-2013, 04:39 PM   #24
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Yes, unless it is kept for consumption- like a summer house.

Ha
Yep, I refuse to count the lake house - timeshare on steroids, until it generates some kind of income
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Old 07-23-2013, 04:45 PM   #25
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Having seen my late father and father in law in their lingering last days, I thought that people who were preoccupied with money were fortunate that they still took health for granted.

Of course, when one is both sick and broke it is pure hell, but then one would not spend the time on this forum.

No, I still do not have $5M, not even as net worth if I include my 2 homes.

FIRECalc says I will get there some day, but I already have enough so that longevity is (and always has been) more important to me (and I do not mean living long in pain or in a derelict state).
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Old 07-23-2013, 05:56 PM   #26
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No, I still do not have $5M, not even as net worth if I include my 2 homes.
+1. I doubt I will get there. I tend to gear my spending a little below my net worth increase level.
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Old 07-23-2013, 06:06 PM   #27
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I'm shocked that, so far, 35% DO have $5MM+ in investable assets. I think of this as a board of people who dislike work and want to leave as soon as possible. If that's the case why would anyone work long enough to amass even $2MM? I will never reach $1MM and that's fine by me.

I don't agree that this is a board of people that dislike work. I think it is a board of people who actually like work, worked very hard and reached FI at a variety of ages. In my case I liked my work for years....then I didn't and that's when I FIRE'd.
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Old 07-23-2013, 06:08 PM   #28
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+1. I doubt I will get there. I tend to gear my spending a little below my net worth increase level.
... meaning you'd rather spend the increase than let it stack up? Nothing wrong with that.

I often thought I should spend more now, rather than later. However, I cannot spend just for the act of spending. If I do not get any pleasure out of it, then it feels like throwing away money and I just cannot do it. Examples include bigger homes, fast cars, or fancy restaurant meals more than once per month.
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Old 07-23-2013, 06:35 PM   #29
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I don't agree that this is a board of people that dislike work. I think it is a board of people who actually like work, worked very hard and reached FI at a variety of ages. In my case I liked my work for years....then I didn't and that's when I FIRE'd.
+1

Because I loved my work, I was very good at what I did. At the risk of sounding like a braggart, as an expert in my field, my pay at the last more-or-less-full-time job I did in 2003 was still more than 2.5x the median of the pay in this field today, as I just looked up on the Web. If one considers only experts in my field, then perhaps my salary would not be so high, but the area is narrow enough that there's no statistics that I could find.

I still have people asking me to help, but I have been feeling my time is running out, and I need to move to the next phase in life.

I have been telling my son, who is a mechanical engineer, to have a passion in his work. If one has to work for a living, not liking his job makes it a living hell. Surely, one can hate his work environment. Just find another company where you fit in better.
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Old 07-23-2013, 07:13 PM   #30
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I have a long way to reach $5M as my portfolio is very conservative. I have no desire to reach that amount anyway.
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Old 07-23-2013, 07:24 PM   #31
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I think I will have a sleepless night.
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Old 07-23-2013, 07:47 PM   #32
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Originally Posted by aaronc879 View Post
I'm shocked that, so far, 35% DO have $5MM+ in investable assets. I think of this as a board of people who dislike work and want to leave as soon as possible. If that's the case why would anyone work long enough to amass even $2MM? I will never reach $1MM and that's fine by me.
I think of this as a board of people who for various reasons want to (or were forced to) retire early, and discuss issues related to this. Some want to retire as early as possible, and some will continue to work until they can live in more luxury or with a huge buffer.
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Old 07-23-2013, 07:50 PM   #33
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I think I will have a sleepless night.
Why? A higher number of people than you expected above $5M? That doesn't change your situation.
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Old 07-23-2013, 08:55 PM   #34
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If I let it reach $5 Million, I have failed.
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Old 07-23-2013, 09:12 PM   #35
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I think of this as a board of people who for various reasons want to (or were forced to) retire early, and discuss issues related to this...
There are also many people here who want to be FI. And once you are FI, you may decide to RE. FI should be first!

Of course if your lifestyle is like most people, it does not take $5MM. Perhaps $1MM is enough, or even less than that if one lives simply as some resourceful members here have demonstrated.

On the Web, I have read plenty of bloggers who wanted to RE or semi-RE before FI. They seemed to have fun until some minor extra expenses occurred, then misery galore!

Earlier, I suggested that one should change job if one is unhappy with the work environment. I then realized that it might not be so easy.

Another thing to look into is to have your own business, or partner with like-minded colleagues for a venture. The latter I did, twice. If you do, I hope you have a better business sense than I did. I considered myself lucky to escape with no financial harm, other than working for a few years for no pay. Good thing my later well-paid consulting job and free-lance work, even if mostly part-time, helped me get recovered.

Money, money, money... One does not need a whole lot, but it still often takes a lot more than people realize. Our LBYM philosophy saves us. YMMV.
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Old 07-23-2013, 09:26 PM   #36
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I don't agree that this is a board of people that dislike work. I think it is a board of people who actually like work, worked very hard and reached FI at a variety of ages. In my case I liked my work for years....then I didn't and that's when I FIRE'd.
+1 In my case it wasn't so much that I got to a point where I didn't like work but I got to a point where work intruded on my leisure time more then I liked and I decided that I wanted leisure time more than I wanted to increase my kid's inheritance.
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Old 07-23-2013, 09:42 PM   #37
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Old 07-23-2013, 10:12 PM   #38
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Some posters expressed amazement that there are posters who had ERed with notable amount of assets. That just shows there are still ways of generating income and increasing the net worth (if one chose to) after ER. and people do not have to settle for suffering fools, backstabbers and sharks at a salaried life.
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Old 07-23-2013, 11:40 PM   #39
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I just want you all to know that I am proud to be associated with such a successful group of people. It's a privilege to share this forum. Now don't kick me out because I am not in this $5mm+ class. Money is not the main goal in life, but certainly one is no slug if s/he has $5million.

Well done!

Ha
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Old 07-23-2013, 11:41 PM   #40
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Holy Cow! If my 401K isn't an 'investable asset', I'm screwed! ...
Sorry, you're on your own.

"Investable assets" seems to be a term used by the financial industry to describe an investor's assets that a financial advisor can take under management immediately. ...
It's going from bad to worse!

I don't plan on letting any financial advisor get to any of my money - so I guess my 'investable assets' are zero!

We really get in trouble with definitions around here, don't we? Especially with polls.

-ERD50
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