NW-Bound
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 3, 2008
- Messages
- 35,712
An even worse question: "How did I accumulate so much while contributing so little?"
An even worse question: "How did I accumulate so much while contributing so little?"
I must say I feel a bit of "how did I get here" when I compare our current net worth to our networth when I retired in 2014. Thank you bull markets. I'm kind of glad there was a dip summer of 2015... because it made me hyper aware that the market can taketh away, just as easily as giveth.
I guess I'll be the contrarian. I know exactly how I got here, because I've been planning for it and monitoring my progress since the early 1980s.
I began making more in one year than I had in three or four years, and then that even doubled and tripled, but we kept living like regular folks and saving, and then began investing those funds just after the Stanford program.
The thing that always blows my mind is that I have more money in retirement savings than the total wages I made in my entire career. Fully funded 401k and other workplace saving options from the beginning at age 22. Now age 67 and retired over 10 years. The power of investing, just amazing.
Sometimes I do have problems wrapping my mind around the idea of "I can afford it". I guess I still haven't totally escaped the mindset of living like I'm poor.
For instance, I'm having a garage built, and want to have a couple of trees taken down that hang over where the garage will be. I figured it's better to take them down now, rather than have Mother Nature do it for me, after the garage is built. Well, I also have a Poplar tree out in the front yard that's been standing at Death's door for years now, but reluctant to ring the bell.
Well, this year, it decided to ring the bell. It looks like it's totally dead. I called a tree removal company, and they sent a guy out. I told him about the trees in back that I really need to have taken down for the garage, but, if it's not too expensive, I figure why not hit that Poplar out in front, as well.
Well, I got the invoice the other day. About $2000 do to the trees for the garage. Roughly another $2000 for the poplar. It's a big tree, easily 80 feet tall, and thick. There was a small part of me thinking, wait, I don't really NEED to have the poplar taken down. But I forced myself to do it. Eventually it WILL come down on it's own, and I'd rather not have it do it while I'm cutting the grass underneath it or something! And, while I could easily chop it down myself (it's way out in the middle of the yard, has enough of a lean you can easily predict where it will fall, and it won't hit anything important), it would take me a really long time to clear that amount of mess out of there. So why not just pay the money, to have it cut down, cleaned up, and free up my time?
Still, old habits die hard, I guess. I have a feeling that once I retire, and have to switch from saving mode to spending mode, it's going to be a rough transition.
Sometimes I do have problems wrapping my mind around the idea of "I can afford it". I guess I still haven't totally escaped the mindset of living like I'm poor. <SNIP>
Still, old habits die hard, I guess. I have a feeling that once I retire, and have to switch from saving mode to spending mode, it's going to be a rough transition.
I totally understand. I've been retired for almost 6 years and our portfolio just gets bigger and bigger. Growing up poor instilled a do it yourself mindset and from car repairs, home improvements, and landscaping & maintenance, I've done it all myself. Now with "Youtube" I've learned how to do things I never imagined.
Well, I got the invoice the other day. About $2000 do to the trees for the garage. Roughly another $2000 for the poplar. It's a big tree, easily 80 feet tall, and thick. There was a small part of me thinking, wait, I don't really NEED to have the poplar taken down. But I forced myself to do it. Eventually it WILL come down on it's own, and I'd rather not have it do it while I'm cutting the grass underneath it or something! And, while I could easily chop it down myself (it's way out in the middle of the yard, has enough of a lean you can easily predict where it will fall, and it won't hit anything important), it would take me a really long time to clear that amount of mess out of there. So why not just pay the money, to have it cut down, cleaned up, and free up my time?
The thing that always blows my mind is that I have more money in retirement savings than the total wages I made in my entire career. Fully funded 401k and other workplace saving options from the beginning at age 22. Now age 67 and retired over 10 years. The power of investing, just amazing.
And I'm over here thinking 'That's good firewood! I could put that in my woodstove and save on the heat bill!'
And I'm over here thinking 'That's good firewood! I could put that in my woodstove and save on the heat bill!'
Feel better - poplar only makes you feel warm because you are up and down replenishing the stove so much. Still better than cottonwood, which i swear takes more good firewood to burn it up than the heat it puts out.
I totally understand. I've been retired for almost 6 years and our portfolio just gets bigger and bigger. Growing up poor instilled a do it yourself mindset and from car repairs, home improvements, and landscaping & maintenance, I've done it all myself. Now with "Youtube" I've learned how to do things I never imagined...
... I guess it's just the way I'm wired.