Does being good with money have to be a secret?

Hi all,
Thanks for all the responses and validation from all you kindred spirits. Sounds like I'm generally taking the right approach keeping my "secrets" safe between us (and of course all the personnel at my local bank). For some reason over the last few years they seem to smile more at me, call me by my first name and make lots of small talk. They even clapped when they handed me my mortgage payoff statement and I handed them the check. Well, at least someone celebrated with me that day!
Thanks again for the feedback.
 
SecretlyFI said:
Hi all,
Thanks for all the responses and validation from all you kindred spirits. Sounds like I'm generally taking the right approach keeping my "secrets" safe between us (and of course all the personnel at my local bank). For some reason over the last few years they seem to smile more at me, call me by my first name and make lots of small talk. They even clapped when they handed me my mortgage payoff statement and I handed them the check. Well, at least someone celebrated with me that day!
Thanks again for the feedback.
Click to expand...

No free toaster ? :rant:
 
obgyn65 said:
I would not have it any other way either. Except for one member in particular who seems to be very contrarian and ornery, whatever is being said. He knows who he is. :)
Click to expand...

REWahoo said:
I disagree. :LOL:
Click to expand...

I disagree with your disagreement-so there!

Do I win the contrarian prize, obgyn65? :D

(Better say yes, or I'll be forced to disagree)
 
SecretlyFI said:
Hi all,
.... They even clapped when they handed me my mortgage payoff statement and I handed them the check. Well, at least someone celebrated with me that day! Thanks again for the feedback.
Click to expand...

You should get the same response when you inform your insurance agent to remove the lien holder on your home insurance policy. I gave him the pay off documents for my home and auto (0% rate loan) at the same time and he was excited for me and really shook my hand. I didn't think it was a big deal.
 
obgyn65 said:
I would not have it any other way either. Except for one member in particular who seems to be very contrarian and ornery, whatever is being said. He knows who he is. :)
Click to expand...
Seems disrespectful... :cool:
 
Last edited:
Nothing to do with you either, Midpack. And you know it. Now can we please drop it and discuss the main topic of this thread? Thank you.
Midpack said:
Seems disrespectful... :cool:
Click to expand...
 
Last edited:
obgyn65 said:
Nothing to do with you either, Midpack. And you know it. Now can we please drop it and discuss the main topic of this thread? Thank you.
Click to expand...
By all means. But I had no idea who you meant...and don't want to.
 
I don't discuss porfolio or investing with anyone other than a brother in-law of like mind set. I'd be expected to pick up the lunch and or bar tab - I did not get my pile by doing that kind of thing :D

As far as not telling neighbors or family about what you have for fear of getting robbed....just tell them the only thing of value have is a Glock .40 caliber strapped to your belt at all times :greetings10:
 
I've mentioned to immediate family that planning for retirement is a hobby of mine, also that we hope to retire early.

Not a big deal to anyone, just conversation.

SIS
 
I have also found it is best to lay low. If you've saved well for retirement you are not among the majority of people, and it is easily to come across as bragging when discussing how you have planned. Particularly with all of the negative news in the media regarding retirement. We have relatives who were spendthrifts when we were younger and have now gotten themselves in trouble who subtly try to figure out how much we have - in order to help them out.

In addition, in our case, the biggest reason we are in a good situation was by starting early saving/investing for retirement - and that is just impossible at this point for many folks our age (50s).

We will discuss general things, like saving, planning, investment allocation, etc. But we will not talk about our specific situation. The closest we come is to let our friends who are in their 20's and 30's, when they broach the subject, know that we started early and that it makes a difference - so they need to start saving/investing right now.
 
I will echo the comments here. I had one friend get our net worth number out of me. He's not the type to beg nor does he need to, but he does treat me differently now. He is very competitive. I do share some with my parents, mostly to learn from their experiences. With the rest, I only throw a few hints here and there to keep them guessing :)
 
When discussing retirement at my work place, I'm shocked to hear from the people that I have talked to, they really don't have anything saved. Some of them are busy paying back 401k loan! Basically they have 20k in their 401k after 30 years of working. Really shocking to see most people haven't really saved anything. I think most people are counting on SS and selling their house for retirement money. Of course, they all drive Luxury cars and have nice jewelrys.

Some of these people are in their 60's, absolutely hate their job, and I ask them why they don't retire when they have worked here for 30 years and they basically said they don't have the money. 30 years of working at the same job and zero saving!
 
But how can we know for sure it's not their cover story? Perhaps one of the people claiming poverty is actually another millionaire next door.
 
I do not discuss details of our finances with anyone. But I get a kick disclosing that we are debt free. This bit of information alone is often greeted with surprise and disbelief. I can only imagine what people's reaction would be if they were presented with the whole picture.
 
Last edited:
I doubt if any friends or relatives know our net worth. They do know that we have no pensions, and are just living off savings/investments, but they probably believe one can live off a WR of 10% to 15%. They also may not know how expensive health insurance can get. Hence, they most likely underestimate our net worth.

No point in explaining, although we have no fear of any of our siblings would mooch off us. My brothers also have larger and fancier homes than I do; they will work until their 60s, probably.
 
I also am amazed at some of the tidbits you see or hear from co-workers about their poor financial shape. 401k loan or hardship withdrawal forms mistakenly left on the copier... We also have this program where you can "buy" an additional week or two of vacation time. A senior manager told me several of his staff were buying an additional week and he couldn't understand how they could afford it. The "price tag" would be what, like 2% of your salary (1/52)? Obviously someone who's not on the path of stashing away 25x annual expenses. Yet he makes around $200k and drives a Lexus. Too bad also. Because he is 59, was recently passed up for promotion and really hates coming to work anymore. That "walking away money" would really come in handy for him. Reinforces for me that every sacrifice I make now provides priceless options for the future. Good decisions = freedom of choice. Love it.
 
I've read all the posts on this thread.


We are smug! thats for sure
 
Yes, we are a bunch of smugs.

GrayHare said:
But how can we know for sure it's not their cover story? Perhaps one of the people claiming poverty is actually another millionaire next door.
Click to expand...
Perhaps people who are still working already have the same stash as we do, and they are raking more in.

Wait until the next economic downturn, and when these smug early retirees are shaking in their boots when the market tanks, and the workers keep having money coming in, who will be laughing then? Ugh, better stop these bad thoughts.
 
NW-Bound said:
...........

Wait until the next economic downturn, and when these smug early retirees are shaking in their boots when the market tanks, and the workers keep having money coming in, who will be laughing then? Ugh, better stop these bad thoughts.
Click to expand...

At the next economic down turn, the workers will be shaking in their boots fearing a layoff.
 
You must log in or register to reply here.

Similar threads

D
Anyone negotiate a "severance" in non-RIF times?
2
Replies
33
Views
962
dadu007
D
N
59.5 And Sitting On The Fence
Replies
20
Views
1K
pacergal
P
R
35 y/o, targeting RE at 46
Replies
14
Views
353
NgineER
N
J
49 and 6 years to go in TX
Replies
5
Views
303
bloom2708
B
D
How to deal with taxable holdings with large gains
Replies
20
Views
1K
Texas Proud
T

Latest posts

Back
Top Bottom