Are you the 1%?

[JoeWras]

Gotta hate when a lowly zero missed means x10 and throws your argument into disarray. Numbers is hard.

That's why my rocket crashed!

Eyeballing a graph doesn't work well. Time for new glasses. Getting old are hard.

 

[Danmar]

There is a fine line between LBYM and forever being in accumulation mode. In my experience, there are more people in the latter. That was very apparent when I was retiring. I spoke to number of co-workers who are rich by any means but can't leave their job b/c accumulation of wealth was their thing. They were addicted to accumulation.

Good point. I know a number of people like this. In laws for sure. Always saved right up to the end but good for us. Trying my best not to fall into this category but my portfolio continues to increase. About doubled since retirement 10 years ago. Just would hate seeing the balance decline.

 

[CRLLS]

I(we) am (are) 64 yrs old. I do not know what people may make. I don't know what other people's net worth is and don't really care very much what other people have. I think I had maybe only 1 or yr of income over 6 figures. most years were much lower. Anyone on the street would not expect me to have the investments I have. Investible money is more about LBYM and the years doing so than any given income. Being in the upper 1% is more about the luck of being born, raised, living and working a fair number of years in the good ol' USA. Oh, and don't forget planning for FIRE for most of those years.

BTW, I (we) had very little in my early thirties. Time is your friend.

 

[NW-Bound]

Good point. I know a number of people like this. In laws for sure. Always saved right up to the end but good for us. Trying my best not to fall into this category but my portfolio continues to increase. About doubled since retirement 10 years ago. Just would hate seeing the balance decline.

You need to buy another home. One on the north shore of Lac Léman would do it, as the PV home apparently was not enough to bleed off that bursting-at-the-seam portfolio. Or maybe Lake Como?

PS. While looking for an apartment to rent for a few days in Lausanne, I happened to spot a house for rent on Lac Léman. The price was more than $8000 / night.

 

[brett]

The stats are meaningless to us.

We only care about our assets, resources, and spending habits. And our health and ability to enjoy what we have. Plus our family and friends of course.

 

[Danmar]

You need to buy another home. One on the north shore of Lac Léman would do it, as the PV home apparently was not enough to bleed off that bursting-at-the-seam portfolio. Or maybe Lake Como?

PS. While looking for an apartment to rent for a few days in Lausanne, I happened to spot a house for rent on Lac Léman. The price was more than $8000 / night.

Thanks for the advice. Did look at Lake Como at one point but past that now. Hard enough looking after the ones we have. Next move will be a sale. $8,000 per night would have an impact. Was it nice?

 

[NW-Bound]

$8,000 per night would have an impact. Was it nice?

I am looking for it again on AirBnB to provide a link to, but cannot find it again. Wonder if they take it off the rental market.

As it is 40x more than I can pay, I did not look at the listing closely to see what it offers.

 

[street]

I(we) am (are) 64 yrs old. I do not know what people may make. I don't know what other people's net worth is and don't really care very much what other people have. I think I had maybe only 1 or yr of income over 6 figures. most years were much lower. Anyone on the street would not expect me to have the investments I have. Investible money is more about LBYM and the years doing so than any given income. Being in the upper 1% is more about the luck of being born, raised, living and working a fair number of years in the good ol' USA. Oh, and don't forget planning for FIRE for most of those years.

BTW, I (we) had very little in my early thirties. Time is your friend.

So true! My history is very similar to yours. Starting time in saving is KEY so start young it doesn't have to be a lot but save.

I'm not in the 1% but I am in the upper 5% and very blessed in life.

 

[Gumby]

Currently, income>expenses. So long as that continues to be the case (and I expect it will for the foreseeable future) then we are happy, regardless of whether we are in the 1%, 5%, 10%, 50% or something else.

 

[traineeinvestor]

I keep my iPhone and cash in a ziploc to keep the salt water away when hiking and beach walking.

One other walker does the same thing.

I do the same and [-]my[/-] the firm's iPhone thanks me for it.

 

[Amethyst]

I think that's the shortest and best way to put it.

Currently, income>expenses. So long as that continues to be the case (and I expect it will for the foreseeable future) then we are happy, regardless of whether we are in the 1%, 5%, 10%, 50% or something else.

 

[traineeinvestor]

Currently, income>expenses. So long as that continues to be the case (and I expect it will for the foreseeable future) then we are happy, regardless of whether we are in the 1%, 5%, 10%, 50% or something else.

Another +1 on this.

Anything else is of more use to people trying to get a piece of my nest egg than it is to me.

 

[ikubak]

I deleted my post because I thought it might be a bit over the top, but I really do just have my cheap smart phone in a ziploc. Actually it is not even a ziploc. I think it is an Ikea plastic bag.

I'll show off......I don't have a cell phone or smart phone or whatever you call those gadgets!

 

[robnplunder]

I'll show off......I don't have a cell phone or smart phone or whatever you call those gadgets!

Wow, that's impressive. I have a cell phone in my golf back just in case I get stranded when my car breaks down (or I have to call the golf shop to complain about slow pace ).