What would you do if your assets grew to 8 figures?

[RobbieB]

I'll never forget the cream of mushroom soup I made from scratch with a "mushroom medley (3 different types) and added some of the brutally expensive white truffle to.

Just magnificent and I will do it again -

That's what I mean by "blowing more dough", white truffles are $300 / ounce. I really don't care if anyone thinks that is stupid. I'm here to live my life not yours.

Have fun!

 

[Rianne]

I think .01% of $10,000,000 is only $1,000 a year?

I think you need a calculator that works )

 

[Koogie]

I think you need a calculator that works )

This again... type this into the google search bar:

"what is .01% of 10,000,000"

 

[RunningBum]

That's what I mean by "blowing more dough", white truffles are $300 / ounce. I really don't care if anyone thinks that is stupid. I'm here to live my life not yours.

Have fun!

The only reason I brought it up is that you seemed to say that people should spend more if they have more, which is no longer you minding your own business. I still say that blowing dough for the sake of blowing it seems ridiculous, but I don't think you mean that literally. That's all I have to say on the topic. Enjoy your truffles. Not sure why I can't find the smilie for it, so I'll just say "Cheers!" and hope there are no hard feelings.

 

[RobbieB]

No, no hard feelings, but the truffles are a good illustration for me.

I can tell you for sure that there is no way I would have bought an ounce of white truffle when may net worth was less than a mill. No way, wouldn't happen.

But I bought an ounce last year and I will again -

So what changed? I was older (and closer to death) and I was richer and thought "hey, lets try some truffles, lets blow some dough!

 

[kcowan]

I've had a lawn service and my house cleaned every two weeks for the last 25 years and I am not even close to 8 figures in assets. This was mostly because I worked 50 hours a week but I plan to continue these services in retirement. The social media website, NextDoor, is a good source for recommendations and workers who are trustworthy.

I admit that I am not extremely picky about the house cleaning but my housekeeper does a good job. If I wanted a very thorough cleaning, I know where I could go but it would cost twice as much. Home repairs are a different matter and can be a royal pain - it seems to be harder to find a good handyman.

We employ housekeepers in both places and keep them employed when we are not there. We debated it when we retired and decided that they would stay as long as we could afford it. We also hire painters now. The painter moves all things and then I fix up the few things not put right.

We would love to have "full-time" Uber drivers and get rid of our cars, the most expensive indulgence that we still have.

 

[Danmar]

I think you need a calculator that works )

I could say the same about you, except it’s probably not your calculator. .01% is .0001. and. .0001 of $10,000,000 is indeed $1,000.

Dont feel too bad as this is a common mistake. Helps to be an x banker as we always talked in terms of basis points (1/100 of a percent).

 

[audreyh1]

Yeah it's been fun seeing the arguments on 0.01% of $10M. I've been appreciative of REWahoo's sig line on this one!

 

[MichaelB]

I think you need a calculator that works )

So, what does your calculator say is the product of .01% of $10,000,000 ?

 

[DrRoy]

Build a new house and spend more on travel.

 

[Lawrence of Suburbia]

I'd stop worrying about money. That's it, really; I have all the material possessions I need. What I don't have at the moment is, a feeling of assurance that my $XXX,XXX savings will last in a city where taxes and other unavoidable expenses are increasing with frightening speed.

 

[dallas27]

Answer: Spend it until I have 7 figures