Is There Any Yearning to Be Recognized for Your FIRE Success?

[marko]

Found this quote by Jean Rostand; somewhat appropriate for this thread!

"Nothing is more admirable than the fortitude with which millionaires tolerate the disadvantages of their wealth."

 

[Markola]

No desire at all. First, get over it. Nobody really cares about your success. If they do watch out. Nothing, I mean nothing good can come of displaying your wealth if you really have it. This forum is my only outlet to brag about my modest good fortune. Otherwise I'm content to be a random old guy who's considered a heck of a fisherman.

This x 1,000. I salute you, Sir. And I, too, am considered to be a heck of a fisherman, albeit by those I know who do not fish, but I see no reason to disabuse them of their mistake.

 

[Badger]

Do you recall all those movies about a rich person that has a hard time finding true love because he can't trust that they are loved for themselves and not their money?
Well, that is the easy answer to your question.
I would want to be known for what I have done for others and not for what I own. If anyone cares about my bank account then there is a beach down the street where they can pound some sand.


Cheers!

 

[Time2]

Maybe. I would like to be recognized because I would like to help other people achieve the same and that would be more likely to happen if my success was recognized.

I don't want to be recognized and we aren't, with our vehicles, 21 years old, 16 years old and 14 years old, and a 3 bedroom 2 bath ranch home. But I do want, at least anonymously, it to be known that we got into the 94% or 95% of US net worth with an average inflation adjusted income of $71k. It took us 36 years, but we still retired a bit earlier than most. Also paid some undergrad tuition and rent and $240k of Dental school tuition for one kid.


I want others to know that it can be done and without having high income.

 

[jollystomper]

The millionaire next door book always resonates in my brain...I love the low key achievers who don't look the part -- who cares about the flashy noisemakers?

That can be a sign of some large insecurities imo

Also, if you are flashy or people 'think' you have money, you get hit with more requests of various kinds (thinking fund raising)

Fundraising requests are not the worst. Think of the "we know you have money so you better share/give it to us or else" situations...

 

[clifp]

ER Forum members get lots of recognition, from each other, and it seems to be enough for most of us. That's one of the things that bring us together here.

That's certainly a factor. My answer is slightly different than the vast majority of responses. For the first few years of being retired, I really didn't want to be singled out for the reasons listed.

However, after a few years, I noticed that when a reporter dropped by the forum, I certainly volunteered to be interviewed and it was gratifying to see my story being told and heard from my former colleagues.

There isn't a lot I miss about working, but external recognition is one thing that I miss a bit.

This forum helped until I got a bit bored with and stop participating other than a random drive-by. I will say that did become annoying when I posting on Mr. Mustache, arguing with a 20 something, they'd accuse me of not getting FIRE, and I'd be "dude I've literally be retired 20 years don't tell me I don't get it."

But by and large, don't expect much in the way of "Job well-done atta boys for achieving FIRE other than places like this forum."

 

[bobbyr]

Fundraising requests are not the worst. Think of the "we know you have money so you better share/give it to us or else" situations...

like family? (or that sounds like the mafia)

 

[scrabbler1]

[snip]

However, after a few years, I noticed that when a reporter dropped by the forum, I certainly volunteered to be interviewed and it was gratifying to see my story being told and heard from my former colleagues.

I, too, volunteered back in 2015 to be interviewed when a reporter for a men's health magazine was looking for subjects for an early retirement article. A few months later, when they ran the article, they printed one line from my interview.

 

[Hdhead]

I am just like the OP only 10 years into retirement. We are the most unassuming multimillionaires you will ever meet. No one knows our net worth, not even our kids. Only problem is I find it impossible to spend to our ability. Been living below our means and saving our whole life. Still though we live very comfortably really don’t want for more. Maybe one day I’ll figure out how to do it.

 

[couch]

I find it interesting that a lot of people in this thread link the recognition of success to outward displays of wealth. As though they are the same thing.

I think we can all agree that Warren Buffet is successful and is recognized as successful, but he drives a modest car and lives in a modest home.

 

[Time2]

I find it interesting that a lot of people in this thread link the recognition of success to outward displays of wealth. As though they are the same thing.

I think we can all agree that Warren Buffet is successful and is recognized as successful, but he drives a modest car and lives in a modest home.

I have a neighbor that lives in a 1600 sq ft home with a one car garage.
They have 3 Mercedes in the driveway. One is a little red sports coup. They are in their 60s. I think that is their outward display of wealth. The cars a parked most of the time.

 

[ncbill]

I find it interesting that a lot of people in this thread link the recognition of success to outward displays of wealth. As though they are the same thing.

I think we can all agree that Warren Buffet is successful and is recognized as successful, but he drives a modest car and lives in a modest home.

Yeah...not so much.

For stories the photo of his home is usually shot from a low angle from the front, which makes it appear more modest than its actual size of ~6,500 sqft.

Look at an aerial shot and he's got what appears to be an additional two-story house added onto the back, plus a large free-standing garage behind that.

 

[Markola]

Yeah...not so much.

For stories the photo of his home is usually shot from a low angle from the front, which makes it appear more modest than its actual size.

Look at an aerial shot and he's got what appears to be an additional two-story house added onto the back, plus a large free-standing garage off to the side.

And he flies on modest NetJets, as he owns a lot of the company.

 

[couch]

Yeah...not so much.

My point is, when I answered before about getting recognized, I didn't take that to mean displaying my wealth.

The recognition I would want is that I am someone you could go to for advice because I succeeded.

 

[ExFlyBoy5]

I think we can all agree that Warren Buffet is successful and is recognized as successful, but he drives a modest car and lives in a modest home.

Modest in terms of his wealth, but at 6,570 sq. feet it's not what I would call modest.

I did find this interesting in regards to him purchasing a beach house in California many years ago:

“When I bought it for $150,000, I borrowed some money from Great Western Savings and Loans. So I probably only had $30,000 of equity in it or something like that – it’s the only mortgage I’ve had for fifty years,” Buffett said.

He added, “I thought I could probably do better with the money than have it be an all equity purchase of the house.”

https://www.cnbc.com/2017/03/04/the-oracle-of-omaha-is-selling-this-time-its-real-estate.html

 

[RetMD21]

Modest in terms of his wealth, but at 6,570 sq. feet it's not what I would call modest.
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Pretty spacious for a retired couple

 

[boilerman]

As to the original question - I don’t want or need recognition for our FIRE as living a life with complete freedom is reward enough.

However, I do wish people would stop telling me how lucky I am or asking me if I won the lottery. It diminishes the accomplishment of us having worked hard, LBYM, etc all those years when others were not.

If people were to say anything, I’d prefer they acknowledge that it’s possible to FIRE without winning the lottery and they just chose not to do the things that were required.

Ok - I guess I am looking for recognition

 

[novaman]

Oops

 

[PandaBear]

Is there any yearning to be recognized for your FIRE success?

Well, I don’t care about others, but I do hope my kid (3 of them, all in their 20’s) see what choices we made (and continue to make) and recognize this is the position they will want to be in someday.

 

[Bigdawg]

“When I bought it for $150,000, I borrowed some money from Great Western Savings and Loans. So I probably only had $30,000 of equity in it or something like that – it’s the only mortgage I’ve had for fifty years,” Buffett said.

He added, “I thought I could probably do better with the money than have it be an all equity purchase of the house.”

Carrying a mortgage? No wonder he is not a member of ER.org. The mods would kick him out. LOL

 

[bobbyr]

My point is, when I answered before about getting recognized, I didn't take that to mean displaying my wealth....

good point, I may have contributed to that divergence.

I definitely wanted to tell anyone who would listen that I had retired, at the time. I felt something greater than pride (euphoria?) and couldn't shut up about it. {smiley face}

I recall my father-in-law being the same. He had a huge smile on his face for some time and also really enjoyed recognition from others on his accomplishment of being retired!

 

[jollystomper]

like family? (or that sounds like the mafia)

Family, friends, neighbors, people reading about it in the media who know where one lives... and yes, depending on where one lives, even organized crime .

 

[jollystomper]

My point is, when I answered before about getting recognized, I didn't take that to mean displaying my wealth.

The recognition I would want is that I am someone you could go to for advice because I succeeded.

But... the proof of one's success will be viewed by many as one's "wealth". Whether or not one wants to display it, people will want to know, or make assumptions about it if they come to you for advice. And more folks will tend to focus on that more, since that is "right now and real", than the steps, which are "long term and not guaranteed".

These days, if one yearns for recognition, one starts a blog, or a website, or a twitter account, or a Facebook page, or a Linked in account, or an Instagram account, or a YouTube channel, or all of the above, and starts sharing one's advice, and telling people to go to those resources for the details of one's success.

 

[Gumby]

While it would be nice if people were so impressed with my FIRE achievement that they came to me for advice, in my experience that won't happen. People might want to have what I have, but they don't want to hear from me how I got it. Most people prefer (or perhaps need) to learn from their own mistakes.

 

[CuriousJoe]

As per Maslow's hierarchy of needs, after Basic Needs are met, humans tend to seek Esteem Needs such as Sense of Accomplishment.


Those who are well known/famous in their fields get their Esteem Needs naturally, and they don't need to 'show off their wealth'



For others, huge houses or fancy cars are symbols to show the world that they have 'achieved'



After all it is hard to show bank balances!