Is Everyone a Multi-Millionaire?

[NW-Bound]

Quote:

Originally Posted by calmloki I do. Didn't you write at some point that you are a 14 year old girl posting from the midwest?

If REW were (is?) a 14-yr old girl, what do you imagine him (her?) to look like from his (her?) writings?

I cannot picture an innocent girl like the following, can you?

[brewer12345]

If I were really a 14 YO girl, I suspect I would look like a 14 YO Honey Boo Boo.

[Tailgate]

Quote:

Originally Posted by brewer12345 If I were really a 14 YO girl, I suspect I would look like a 14 YO Honey Boo Boo.

[steelyman]

I don't have the slightest idea what the Wahoo looks like, but I think this approximates the "feel":

http://youtu.be/OCtEB75yPfc

[NW-Bound]

I do not watch much TV, so had to look up "Honey Boo Boo" on the Web.

[brewer12345]

Quote:

Originally Posted by NW-Bound I do not watch much TV, so had to look up "Honey Boo Boo" on the Web.

The "South Park" episode making fun of Honey Boo Boo featured a character named Fatty Doo Doo.

[NW-Bound]

I had to find some videos on youtube to see what Honey Boo Boo is about.

"I wish I had extra fingers, then I could grab more cheese balls" -- Honey Boo Boo

[Fermion]

This is what your typical "14 year old girl" poster really looks like:

[Hopeful]

Quote:

Originally Posted by Which Roger There is a strong correlation between net worth and age. The statistic cited by the OP is that 7% of US households have a net worth over 1 million. But I would think that the vast majority of these households consist of older people; very few people under the age of 40-something have a 7-digit net worth. So maybe 20% or so of the 50+ population is worth a million or more. Just a guess.

This is very true. I feel blessed at the age of 41 to have investable assets of 2.5M. It would be interesting to see stats on net worth based on age. Of course the stats here would be skewed compared to national averages considering this is an early retirement forum.

[nuke_diver]

Quote:

Originally Posted by NW-Bound Yes, the longer you work, the less money you will need even though you build up a bigger stash. I am amused when seeing people running FIRECalc out to 50 years (50!), while I myself think 30 years is already optimistic for myself.

I take the conservative route...I am healthy and while my Mom only made it to 68 (ovarian cancer) my dad is 81 while not living a particular healthy lifestyle and my grandparents lived into their late 90's. So given advances in medicine it might not be unreasonable to consider 50 years of retirement (55-105). Now the question of if I WANT to be 105 is different that if I make it that far...but I wouldn't want to be like the folks that got burned by Madoff..90 yo and out of money

So I run scenarios that have gone as long as 120

[Car-Guy]

Quote:

Originally Posted by REWahoo So you're saying we shouldn't believe everything we read on the internet?

How true that is. This is a good forum with a lot of good information but it is an anonymous public forum and anyone can say just about anything they want (That the mod's will allow)

[Mulligan]

Quote:

Originally Posted by Car-Guy How true that is. This is a good forum with a lot of good information but it is an anonymous public forum and anyone can say just about anything they want (That the mod's will allow)

Speaking of crazy but true...I know a retired couple in their late 50s who owe more money on their house now than they did when it was purchased in the 80s and have no savings. But they are comfortably retired. How? Well they have over $100k a year in pensions with COLAs. As long as the checks keep coming, they are just fine. I know several people that have retired or are going to retire that way. I wasn't a heck of a lot better myself.


Sent from my iPad using Tapatalk

[imoldernu]

Quote:

Is Everyone a Multi-Millionaire?

Umm?

[gauss]

Quote:

Originally Posted by NW-Bound I had to find some videos on youtube to see what Honey Boo Boo is about. "I wish I had extra fingers, then I could grab more cheese balls" -- Honey Boo Boo

I'll go out on a limb and suggest that the ER crowd here is not the Honey Boo Boo target audience...

[W2R]

Quote:

Originally Posted by Major Tom If it makes you feel any better Senator, I stopped work a few years ago and only have 750K, not counting the value of my future social security. All of that is in investable assets. I don't own a house, but I do have a bicycle that I bought for $100 off Craigslist and a 24 year-old microwave that still works

I kept my first microwave for about 25-30 years. It was HUGE. I kept hoping it would break, but it never did. Finally I just declared it dead and took it to the dump (for interior decorating reasons, and to reclaim counter space, not because it ever quit working). If anybody found it there and took it home, it is probably still working. They just never die. Zombie microwaves from H*ll; might make a good movie.

[imoldernu]

Anyway, something to read here... find the chart that fits.

The Average Net Worth For The Above Average Person | Financial Samurai

[Animorph]

Here's a summary of Fed data on income and net worth (second table down), including by age group:

A Look at Household Net Worth and Household Income By Age Group from the 2010 Survey of Consumer Finances


I believe this is the source:
FRB: 2010 SCF

[eta2020]

Quote:

Originally Posted by W2R I kept my first microwave for about 25-30 years. It was HUGE. I kept hoping it would break, but it never did. Finally I just declared it dead and took it to the dump (for interior decorating reasons, and to reclaim counter space, not because it ever quit working). If anybody found it there and took it home, it is probably still working. They just never die. Zombie microwaves from H*ll; might make a good movie.

I kept SONY CRT TV until few months ago. I am no longer a young guy (as I was when I bought it 20 years ago). The thing was like 100 plus pounds. I needed neighbour body builder to get it out of the house.

I decided to replace it with LCD TV to get rid of cable and use antenna instead.

People here are for most part quite frugal as well..... BTW this story is not made up by 14 year old girl

[razztazz]

Quote:

I kept SONY CRT TV until few months ago. I am no longer a young guy (as I was when I bought it 20 years ago)

I thought I was the only "kook" like this. I had a Magnavox portable non-cable ready, rotary clicky dial, that was my main "home entertainment" piece from 1984 to 2004

[Animorph]

Quote:

Originally Posted by W2R I kept my first microwave for about 25-30 years. It was HUGE. I kept hoping it would break, but it never did. Finally I just declared it dead and took it to the dump (for interior decorating reasons, and to reclaim counter space, not because it ever quit working). If anybody found it there and took it home, it is probably still working. They just never die. Zombie microwaves from H*ll; might make a good movie.

I still have my first microwave, from 1976. A GE Jet something I think (I'm visiting Mom just now). Bought in my last year of college. Now it sits in my bedroom, just in case. The door seal looks OK, but I don't think I've used it in the last 20 years. Would have starved without it in college. Now we use two in the kitchen.