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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 07-24-2013, 02:11 PM   #61
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I'm still a few million short. A mere million ain't what it used to be, but it is a whole lot more than nothing.
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Old 07-24-2013, 04:51 PM   #62
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I'm still a few million short. A mere million ain't what it used to be, but it is a whole lot more than nothing.
Actually it's a lot more than that of most people in the world.
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Old 07-24-2013, 05:24 PM   #63
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Well, judging by the drop in percentage of the $5M+ crowd, obviously if you have more than $5M you spend a lot of time on this forum waiting to jump on things like this poll. It took a while for the poorer FIREees or the still employed to respond. Give it long enough and the percentage will probably drop closer to a match for the rest of society.

Personally, I'm hoping that at some point in my life my investable assets go over $5M, even though I'm drawing down. A nice decade of boundless growth could do it. Or just living long enough that my current balance goes over $5M, although worth much less due to inflation. Live long and prosper, that's what I always say,
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Old 07-24-2013, 05:53 PM   #64
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Agree ---with above post.

For us 5M would be great, but if I had that I would have pulled the trigger before now.

The best we can do (and our goal) is 2.8-3M at 60/65 (me/DW) in three years. We are good with that.
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Old 07-25-2013, 06:45 AM   #65
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Why? A higher number of people than you expected above $5M? That doesn't change your situation.
Of course not for that reason. I thought I would have a sleepless night because I was a little shocked by how far this target of retirement investment assets keeps going up. We only need maybe 2-3 mils. Any bit more would be nice.

This reminds me of what Herbert Hoover said: "About the time we can make the ends meet, somebody moves the ends.".
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Old 07-25-2013, 07:49 AM   #66
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Of course not for that reason. I thought I would have a sleepless night because I was a little shocked by how far this target of retirement investment assets keeps going up. We only need maybe 2-3 mils. Any bit more would be nice.

This reminds me of what Herbert Hoover said: "About the time we can make the ends meet, somebody moves the ends.".
But it isn't your target, so why should it affect your sleep? Confused.

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Old 07-25-2013, 07:57 AM   #67
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Without regard to this specific target (because this specific target is about who's "rich", not who's financially secure), I think that, legitimately, when experts are saying X and you're doing <X, it is natural to consider what those others are saying, and consequently that could lead to you rethinking the matter.
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Old 07-25-2013, 08:09 AM   #68
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Without regard to this specific target (because this specific target is about who's "rich", not who's financially secure), I think that, legitimately, when experts are saying X and you're doing <X, it is natural to consider what those others are saying, and consequently that could lead to you rethinking the matter.



What 'experts' are saying anyone should obtain $5M? It was just a poll asking if you have it or not. And why would I care if someone else reported they had $X, if I have figured my plan will work with $Y?

I happen to know some very rich people. I know that one has an annual income that is often > $5M (it is public info). And he is LBYM (not hard at that level, but some manage to blow it). Doesn't affect me in the least. I know I would not put forth the effort he has to achieve that, probably don't have the skill set anyhow, so be it. I never once thought I need to save more because of what this guy has.

If one is a 'keep up with the Jones type', they will probably have trouble achieving FIRE, they will not be LBYM.

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Old 07-25-2013, 08:38 AM   #69
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Originally Posted by bUU View Post
Without regard to this specific target (because this specific target is about who's "rich", not who's financially secure), I think that, legitimately, when experts are saying X and you're doing <X, it is natural to consider what those others are saying, and consequently that could lead to you rethinking the matter.
I agree that it's natural to react that way. My response is to overcome that reaction and realize that nothing in the poster's own situation has changed just because some others are throwing around higher numbers. Even if it was about a target retirement amount, others' goals shouldn't affect your own, unless you are looking into their breakdown and realize you haven't accounted for health care, replacement of cars, major irregular home maintenance expenses, etc., in your own target.
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Old 07-25-2013, 10:29 AM   #70
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Quote:
Originally Posted by bUU View Post
Without regard to this specific target (because this specific target is about who's "rich", not who's financially secure), I think that, legitimately, when experts are saying X and you're doing <X, it is natural to consider what those others are saying, and consequently that could lead to you rethinking the matter.
What 'experts' are saying anyone should obtain $5M?
.

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I agree that it's natural to react that way. My response is to overcome that reaction and realize that nothing in the poster's own situation has changed just because some others are throwing around higher numbers.
My initial reaction was that it isn't even worth a second thought about what makes one "rich" - I focus just on financial independence, not affluence.
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Old 07-25-2013, 11:45 AM   #71
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Doggies, boy,

If I had 5 mil, do you think I would be hanging out here? I would be the invisible man. My kids would have trouble finding me. As it is, I may wind up living in one of them's basement. My brother has offered me a place to put my trailer on his back lot. If I don't need water or sewer.

I need another 1.5 years in this butamous job to break even. As the song says, I been down so long it looks like up to me.

I can afford to retire 5 years after I'm dead.

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Old 07-25-2013, 12:57 PM   #72
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Million schmillion...

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