man, everyone is a psychologist here
we have spent around $500k each of the last 4 years and it's just where our spending settles out. it's not some number i "get off" on. if i got off on spending big, i wouldn't be saving 85-90% of my after tax income each year.
it is harder to leave a job that pays better, but that doesn't mean it's about ego. almost nobody outside of my office knows i exist. i shun the limelight. i hate golfing.
we COULD spend less.. but $500k is the level where we can live how we want to, without "thinking" about expenses... and if I can guarantee that level of income in 2 more years of work (at which point i will be 41), why not just do the 2 more years and lock in a lifestyle that we prefer?
would it be rational to tell my wife "let's just do it NOW, and have 75% of the lifestyle we want, because i'm not willing to work 2 more years to get us to that 100% level?"
COULD we cut back to $400k? sure. but we would either have to slash charitable giving, or fly economy class to europe, or stop collecting wine, or downsize our house.
that's why i'm saying this has nothing to do with ego. it's about the math of sustainable financial independence. we aren't quite there yet, unless we want to cut corners.
how do we spend $500k?
- 50 property tax and yard maintenance
- 30 home renovations and repairs (some years the slate roof has to be replaced, sometimes the exterior needs to be repainted, some years it doesn't... and in expensive neighborhoods home repairs cost more)
- 120 regular weekly expenses (including wine collection, which is a hobby)
- 30 cars (2 luxury cars ... we prefer to lease)
- 100 vacation and travel (business class to europe
isn't cheap for a family... and we go overseas often )
- 30 tuition (this will rise)
- 100 charitable giving
- 40 passion investments (art, rare coins, etc!
man, everyone is a psychologist here
we have spent around $500k each of the last 4 years and it's just where our spending settles out. it's not some number i "get off" on. if i got off on spending big, i wouldn't be saving 85-90% of my after tax income each year.
it is harder to leave a job that pays better, but that doesn't mean it's about ego. almost nobody outside of my office knows i exist. i shun the limelight. i hate golfing.
we COULD spend less.. but $500k is the level where we can live how we want to, without "thinking" about expenses... and if I can guarantee that level of income in 2 more years of work (at which point i will be 41), why not just do the 2 more years and lock in a lifestyle that we prefer?
would it be rational to tell my wife "let's just do it NOW, and have 75% of the lifestyle we want, because i'm not willing to work 2 more years to get us to that 100% level?"
COULD we cut back to $400k? sure. but we would either have to slash charitable giving, or fly economy class to europe, or stop collecting wine, or downsize our house.
that's why i'm saying this has nothing to do with ego. it's about the math of sustainable financial independence. we aren't quite there yet, unless we want to cut corners.
how do we spend $500k?
- 50 property tax and yard maintenance
- 30 home renovations and repairs (some years the slate roof has to be replaced, sometimes the exterior needs to be repainted, some years it doesn't... and in expensive neighborhoods home repairs cost more)
- 120 regular weekly expenses (including wine collection, which is a hobby)
- 30 cars (2 luxury cars ... we prefer to lease)
- 100 vacation and travel (business class to europe
isn't cheap for a family... and we go overseas often )
- 30 tuition (this will rise)
- 100 charitable giving
- 40 passion investments (art, rare coins, etc!
Ha!
You should head over to Bogleheads' forums...
Your spending is no big deal for your income level...and if it takes another couple of years to get where you want to be to sustain that level, why not?
You'll still beat the majority of early retirees by years...after age 50 for most.
This is an interesting point. Your questions are not financial, they are psychological.man, everyone is a psychologist here
man, everyone is a psychologist here
we have spent around $500k each of the last 4 years and it's just where our spending settles out....
Humblebrag. If a guy with that much money can't figure it out, what hope do us regular folk have?
man, everyone is a psychologist here
we have spent around $500k each of the last 4 years and it's just where our spending settles out. it's not some number i "get off" on. if i got off on spending big, i wouldn't be saving 85-90% of my after tax income each year.
it is harder to leave a job that pays better, but that doesn't mean it's about ego. almost nobody outside of my office knows i exist. i shun the limelight. i hate golfing.
we COULD spend less.. but $500k is the level where we can live how we want to, without "thinking" about expenses... and if I can guarantee that level of income in 2 more years of work (at which point i will be 41), why not just do the 2 more years and lock in a lifestyle that we prefer?
would it be rational to tell my wife "let's just do it NOW, and have 75% of the lifestyle we want, because i'm not willing to work 2 more years to get us to that 100% level?"
COULD we cut back to $400k? sure. but we would either have to slash charitable giving, or fly economy class to europe, or stop collecting wine, or downsize our house.
that's why i'm saying this has nothing to do with ego. it's about the math of sustainable financial independence. we aren't quite there yet, unless we want to cut corners.
how do we spend $500k?
- 50 property tax and yard maintenance
- 30 home renovations and repairs (some years the slate roof has to be replaced, sometimes the exterior needs to be repainted, some years it doesn't... and in expensive neighborhoods home repairs cost more)
- 120 regular weekly expenses (including wine collection, which is a hobby)
- 30 cars (2 luxury cars ... we prefer to lease)
- 100 vacation and travel (business class to europe
isn't cheap for a family... and we go overseas often )
- 30 tuition (this will rise)
- 100 charitable giving
- 40 passion investments (art, rare coins, etc!