5 Lessons from the "rich"

[Sam]

I don't want to be a party pooper (OK, I really do), but I hope that many of you realize that you may be indirectly disclosing your net worth.

No one has disclosed name, address, SS #, DOB. What harm can this do?

 

[califdreamer]

What harm can this do?

None.

 

[tryan]

NW 2.1m ... home equity 309k (15%). Excludes present value of a small pension and SS.

(I am wearing underwear ... if nobody believes me; I don't care )

 

[Nords]

I don't want to be a party pooper (OK, I really do), but I hope that many of you realize that you may be indirectly disclosing your net worth. For example, if you have previously posted what the value of your home or car is, it's a straight-forward calculation to get your net worth from your post in this thread.

Geez, Wab, make up your mind.

We're all spewing garbage data to each other, or we're totally truthful, or we're not realistic about our home values, or we haven't properly accounted for taxes on their sale, or we can't even agree on the calculation of net worth, and many of us can't do math. So which is it?

Look, there goes the Porsche-driving Millionaire Mensa-member dude in his boxers!
Personally, I enjoy it. I just don't particularly understand it. Carry on!

I think he has a light bulb stuffed down there... and not a compact fluorescent, either...

Nords: With a net worth of $4,000,000 or so, health insurance covered, I think you can afford to buy a couple of new cars.

Yeah, we could easily catch the CFB & C-T syndrome, but who has the time?

The Taurus (13 years old, 105K miles) is making this funny clunking noise when the steering is amidships, it has a heckuva wobble resonance at 23 MPH & 46 MPH, and it's probably more than a rotate/balance... maybe a wheel bearing or even a step up to a steering box. And the Altima (10 years old, 96K miles) has been salvage value ever since it piled up on that guardrail a couple years ago, even though it's perfectly driveable. Of course it does have that funny speed-dependent whiny noise when it's at idle.

But we're on Day 14 of getting the rental ready, the tropical jungle yard is almost whipped back into shape, the carpet guys are coming tomorrow, the new ceiling and the new sheet vinyl look great, and we're probably on or slightly ahead of schedule. The new tenants say their check is in the mail and their plane lands on the 31st. This is probably going to work out OK, so Trombone Al and I are going to surf Queen's Beach on Thursday.

Next month, as soon as we get the Taurus in the shop and finish the tax returns, spouse and I can sit back and talk about a Prius PHEV... maybe replace one or both cars... would it be too obsessive/compulsive to have TWO Priuses? ("Prii"?) Nah, maybe she should get to choose her own ride with her big Reserve bucks.

And did Nords capitalize the value of his military pension in his NW calculation? Hmmm... another mystery...

Gosh, what would we use to benchmark a govt pension with a COLA? TIPS? I bonds? Some other 30-year bonds?

Don't get me started on the taxes on the unrealized cap gains, either. Fidelity just sent out their 1099-corrected (at least I didn't get started before they sent it out) and I'm still trying to figure out why a portion of EGLE's payouts is now considered a "nondividend distribution". I'm not complaining, that investment has almost paid for itself, but I'd hate to get another 1099 the day after we file the returns. Any of you other EGLE investors having the same correction?

 

[cute fuzzy bunny]

Heyyy...we drove old expeditions and rav4's before we went nutty on new cars. And I swear my 2 year old is going to learn to drive in that lexus.

I'm now wearing underwear. Just so everybody feels a bit better.

 

[HFWR]

I'm now wearing underwear.

The mother of all brassieres...

 

[Spanky]

No one has disclosed name, address, SS #, DOB. What harm can this do?

Hmmm, ...... harm to the egos of those who have less NW?

 

[W2R]

We all look like millionaires on the web.

I don't even look like a millionaire on the web! Agh, woe is me. But I am planning to retire in three years, and so far, everything is turning out exactly as planned, or better.

 

[Sam]

Hmmm, ...... harm to the egos of those who have less NW?

Definitely not my ego. But I see your point. Well put!

I don't even look like a millionaire on the web! Agh, woe is me. But I am planning to retire in three years, and so far, everything is turning out exactly as planned, or better.

Me neither. Not everyone needs to be a millionaire in order to retire.

 

[Gumby]

I'm a millionaire . . . if you count in Yen.

 

[lswswein]

I have Million Turkish Lira Note in my wallet; Its a great conversation piece

-h

 

[polloloco]

So what is that worth?
As much as five USD?

 

[SteveR]

Definitely not my ego. But I see your point. Well put!

Me neither. Not everyone needs to be a millionaire in order to retire.

The point I was trying to make was anybody can make up anything and no one can refute it. So, anyone can look like a millionaire....even if they are not.

 

[W2R]

The point I was trying to make was anybody can make up anything and no one can refute it. So, anyone can look like a millionaire....even if they are not.

You're right. Still, it boggles the mind to imagine someone SO insecure, that they would actually make up stuff to look like a millionaire to a message board full of people that they don't even know in real life and probably never will.

I tend to take most of these people at face value, especially those who admit to being over 50. After all, if someone has decided to create an imaginary net worth, might as well make oneself 27 or so at the same time.

 

[Enuff2Eat]

You're right. Still, it boggles the mind to imagine someone SO insecure, that they would actually make up stuff to look like a millionaire to a message board full of people that they don't even know in real life and probably never will.

I tend to take most of these people at face value, especially those who admit to being over 50. After all, if someone has decided to create an imaginary net worth, might as well make oneself 27 or so at the same time.

the fact remain that only about 3% of the population are millionaires. if you happen to be one of them, God Bless You.

the question of the day is.. Are you happy? i rather have enuff2eat, and be happy then a misery millionaire. so what's the point of having money?

enuff

 

[unclemick]

Sooo - if I deny ever have been a bored blond teenage female posting from Missoula WITH a webtv and NO zits - even the old time posters will believe me.

Sigh! - next ya'll will tell me - reycling dryer sheets won't make me rich.

Has this forum sink this low? Where's the magic, the mystery, the whimsey?

heh heh heh - whadda mean Santa Claus isn't a Boglehead! - , ,, , , .

P. S. - coffee is late this morning!

 

[cute fuzzy bunny]

Hey you never mentioned you were a blond.

Whens your eighteenth birthday?

 

[unclemick]

Bottle blond? , , ,, , , , , , , , , .

Not telling about my birthday - wouldn't be prudent. 8).

heh heh heh

 

[Nords]

You're right. Still, it boggles the mind to imagine someone SO insecure, that they would actually make up stuff to look like a millionaire to a message board full of people that they don't even know in real life and probably never will.

We'll have to check back with you on this in a year or so when the new-poster process has worked through a few more of that ilk.

Better still, volunteer to be a moderator-- it'll only take a few months!

 

[W2R]

We'll have to check back with you on this in a year or so when the new-poster process has worked through a few more of that ilk.

Better still, volunteer to be a moderator-- it'll only take a few months!

LOL!!! OK, I'll take your word for it.

 

[HFWR]

Ok, busted. I made it all up...

Wait, if I was going to reinvent myself, I'd pick a better persona than the one currently evident......... :

I suppose someone could painstakingly piece together all my posts, and come up with quite a bit of personal info, and maybe, just maybe, figure out who I REALLY am. My response would be, "you really need to get a life..."

 

[clifp]

Residence 24% Hawaii is expensive
Car < .4% I have only owned 5 cars in my life.

 

[Meadbh]

Residence: 8%
Vacation home: 3.4%
Car: 0.04% (and that's being generous)
Considering additional real estate.......

 

[youbet]

the question of the day is.. Are you happy? i rather have enuff2eat, and be happy then a misery millionaire. so what's the point of having money?

I like to have money to pay for things I enjoy in RE. So far, it hasn't made me miserable at all. For example, I'm enjoying a delicious Stevens Point Pale Ale right now. I don't have to have it. I could be drinking a nice glass of water. But I am enjoying it, I can afford it, so why not?

While I'm certainly not "rich," I get by. And I've yet to find a downside to FI.