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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%
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Poll:Have $5 million invested assets?
Old 07-23-2013, 01:38 PM   #1
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Poll:Have $5 million invested assets?

Viewing another thread, I became curious. This is a blind poll, so even if you do not want to discuss your situation, please vote.

Married or single, children or no children, homeowner or renter, working or retired, how many here have => $5,000,000 in invested or investable assets? No capitalized pensions or SS, just money honey, and investments.
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Old 07-23-2013, 01:46 PM   #2
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Married or single,
If I count the assets of all six wives I'd be there. I've spent all my money keeping them from finding out about one another.
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Old 07-23-2013, 02:04 PM   #3
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I need a big bump up in the market to make $5M.
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Old 07-23-2013, 02:05 PM   #4
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Missing third choice: "No and maybe that's not okay".
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Old 07-23-2013, 02:12 PM   #5
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Missing third choice: "No and maybe that's not okay".
And maybe "Yes, and that's still not enough".
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Old 07-23-2013, 02:26 PM   #6
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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.
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Old 07-23-2013, 02:28 PM   #7
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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.
Maybe some of them are married couples who have $2.5M each?

This is also a board with OMY types and some of them are in occupations where they might have a high income. And some of those say they spend very little despite a high income. So, folks in highly compensated careers, worried about quitting and always working one more year and who hardly ever spend a nickel. It adds up after a while........
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Old 07-23-2013, 02:29 PM   #8
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Are we counting real estate, other than your principal residence?
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Old 07-23-2013, 02:32 PM   #9
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Are we counting real estate, other than your principal residence?
I'd call real estate, other than your principal residence, an investible asset. I don't have any though.........

I'd think rental houses in Nevada, in particular, should count!
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Old 07-23-2013, 02:37 PM   #10
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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 think you'll find is that this is a board of people who see being FI as an important goal. Once that is reached, "the world is your oyster". That can be to continue work (on your terms) or leave (also on your terms) to pursue some other calling.

Also, I'm personally someone who calculates every possible worst-case scenario so my "number" is definitely higher than I'll likely need. Failure to plan...
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Old 07-23-2013, 02:58 PM   #11
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I think the poll, if it is a reliable indicator, underscores just how far off from the typical American the typical participant on this forum is.
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Old 07-23-2013, 02:59 PM   #12
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Are we counting real estate, other than your principal residence?
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.
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Old 07-23-2013, 03:02 PM   #13
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I think the poll, if it is a reliable indicator, underscores just how far off from the typical American the typical participant on this forum is.
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. From that you say the "typical" participant of this forum is far off from the typical American?

It could be, but we don't know from this data. It's kind of a stretch saying the situation of ten people describes the typical participant of the FIRE forum.
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Old 07-23-2013, 03:16 PM   #14
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I think the poll, if it is a reliable indicator, underscores just how far off from the typical American the typical participant on this forum is.
No self-selected poll can be considered 'reliable'. But I voted truthfully, well, I'm not sure I'm 'ok' with < $5M, but it's not bothering me enough to go back to work to do anything about it. So I guess that counts as 'ok'.

If we could somehow force every active member to vote, and vote truthfully, we could make some conclusions. And we shouldn't even compare to the 'typical American' - how about the 'typical American' at/near retirement age. Oh, and add,'fanatical about saving, LBYM, investments, bacon', etc.

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.

heh-heh - it would be interesting to see a histogram of 'portfolio' entries in FIRECALC, discounting the ones that stayed at the default, or at $1M (the defacto-default many of us use so that the spending is a decimal shift from %WR).

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Old 07-23-2013, 03:21 PM   #15
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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.
Holy Cow! If my 401K isn't an 'investable asset', I'm screwed! I've spent a lot of time investing it, and I'm counting on it as an asset. It's ~ 1/2 my NW. If it's not, DW is gonna be real, real pissed when I explain our new budget to her.

Can you come and play interference for me when I explain this to her?

I would include any real estate outside of your principal residence, but that's me.

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Old 07-23-2013, 03:24 PM   #16
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I think the poll, if it is a reliable indicator, underscores just how far off from the typical American the typical participant on this forum is.
Now I know why I am feeling inadequate as a newer poster...
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Old 07-23-2013, 03:26 PM   #17
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I would include any real estate outside of your principal residence, but that's me.
Me too. I also would include everything except primary residence.
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Old 07-23-2013, 03:29 PM   #18
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Now I know why I am feeling inadequate as a newer poster...
Don't worry, by following all the great advise you'll receive here you'll soon be a multi-zillionaire too!
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Old 07-23-2013, 03:50 PM   #19
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Holy Cow! If my 401K isn't an 'investable asset', I'm screwed! I've spent a lot of time investing it, and I'm counting on it as an asset. It's ~ 1/2 my NW. If it's not, DW is gonna be real, real pissed when I explain our new budget to her.

Can you come and play interference for me when I explain this to her?
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. Therefore IRAs are investable assets but not 401Ks or real estate as they can't make a commission off of those assets. But seen from the investor's perspective, 401Ks and real estate are clearly invested assets. Since the original article that started this discussion was written from the financial industry perspective (probably using the more restrictive definition outlined above), I was wondering which definition applied here.
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Old 07-23-2013, 03:59 PM   #20
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Are we counting real estate, other than your principal residence?
Yes, unless it is kept for consumption- like a summer house.

Ha
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