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Old 02-13-2018, 03:12 PM   #181
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I have come to the conclusion that if you have ~$2.5m in NW NOT including your main living property. With a 4% WR ($100k PA) That would put you in the Middle to Upper Middle C!&$$ . Add SS and Pensions and it would put you squarely into the Upper Middle. JMHO I could be wrong.
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Old 02-13-2018, 04:01 PM   #182
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Plymouth is a great location within 30 minutes of downtown Minneapolis and the lake is a lot quieter than Lake Minnetonka, which is crowded by big boats and farther to downtown.
I like Plymouth quite a bit, and actually love the new neighborhood, even though I'm a little uncomfortable with being on the less wealthy side of the curve now. Its a lot easier to not worry about keeping up with the Joneses when the Joneses can't afford to do anything all that exciting.
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Old 02-13-2018, 04:58 PM   #183
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I like Plymouth quite a bit, and actually love the new neighborhood, even though I'm a little uncomfortable with being on the less wealthy side of the curve now. Its a lot easier to not worry about keeping up with the Joneses when the Joneses can't afford to do anything all that exciting.
1 problem with Plymouth. Cold as Hell in the winter. Not in my ideal retirement garden spots.
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Old 02-13-2018, 05:06 PM   #184
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1 problem with Plymouth. Cold as Hell in the winter. Not in my ideal retirement garden spots.
I'm not looking to start an argument or anything, but my understanding is hell is not cold at all, but just the opposite - very hot.
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Old 02-13-2018, 05:10 PM   #185
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It's well known that the devil tailors each experience to the individual sinner's dislikes, which the devil knows even better than the sinner does.

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I'm not looking to start an argument or anything, but my understanding is hell is not cold at all, but just the opposite - very hot.
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Old 02-13-2018, 05:14 PM   #186
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I'm not looking to start an argument or anything, but my understanding is hell is not cold at all, but just the opposite - very hot.
LOL.... OK you win.... But not an ideal retirement spot nevertheless.
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Old 02-13-2018, 05:29 PM   #187
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I'm not looking to start an argument or anything, but my understanding is hell is not cold at all, but just the opposite - very hot.
Perhaps hell freezes over in Minnesota.
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Old 02-13-2018, 05:57 PM   #188
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It's pretty cold there today...
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File Type: jpg HellMi.jpg (235.5 KB, 35 views)
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Old 02-13-2018, 06:01 PM   #189
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I'm not looking to start an argument or anything, but my understanding is hell is not cold at all, but just the opposite - very hot.
Dante says that there is a frozen lake in the middle of Hell. https://en.wikipedia.org/wiki/Cocytus
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Old 02-13-2018, 06:10 PM   #190
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Old 02-13-2018, 06:10 PM   #191
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1 problem with Plymouth. Cold as Hell in the winter. Not in my ideal retirement garden spots.
Anywhere in Minnesota in the winter is simply Brrr cold!
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Old 02-13-2018, 08:37 PM   #192
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My wife kisses me several times during the day, my kids, their spouses and grandkids hug, kiss and seem to enjoy my company. My neighbors wave back when I wave to them, my 7 tenants all acknowledge me and for the most part pay their rent on time all the time. My brothers and sisters all speak to me when I am around, and pleasantries are always exchanged when we get together on a regular basis.

At least to my face.

I am rich beyond compare; life is good. I don't know what class that is, but I'm fine with the one I'm in.
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Old 02-13-2018, 09:50 PM   #193
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Just read another recently published article about money and happiness. Apparently there is a sweet spot.

“...It’s been debated at what point does money no longer change your level of well-being. We found that the ideal income point is $95,000 for life evaluation and $60,000 to $75,000 for emotional well-being...Emotional well-being, or feelings, is about one’s day-to-day emotions, such as feeling happy, excited, or sad and angry. Life evaluation, really life satisfaction, is an overall assessment of how one is doing and is likely more influenced by higher goals and comparisons to others...The study also found once the threshold was reached, further increases in income tended to be associated with reduced life satisfaction and a lower level of well-being..."

Money only buys happiness for a certain amount - Purdue University
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Old 02-13-2018, 10:01 PM   #194
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The study also found once the threshold was reached, further increases in income tended to be associated with reduced life satisfaction and a lower level of well-being..."
I don't believe the above. Most people will agree that there is a diminishing effect with increasing income, but negative?

It could be because the higher income jobs come with more stress, and that additional money may not be worth it. We have seen many doctors on this forum retire early for that exact reason.

But, if one can get more money for no additional work, would you refuse because it makes you less happy? Come on!
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Old 02-13-2018, 10:18 PM   #195
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According to this article you only need 375k in retirement to be middle class.

Nowadays, to sustain a “comfortable” and “middle-class” lifestyle in retirement, a retiree will need about $375,000 in savings. The reality is that most folks fall far short of that number.
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Old 02-13-2018, 10:43 PM   #196
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My post was a joke.
I got it
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Old 02-13-2018, 10:59 PM   #197
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Just read another recently published article about money and happiness. Apparently there is a sweet spot.

“...It’s been debated at what point does money no longer change your level of well-being. We found that the ideal income point is $95,000 for life evaluation and $60,000 to $75,000 for emotional well-being...Emotional well-being, or feelings, is about one’s day-to-day emotions, such as feeling happy, excited, or sad and angry. Life evaluation, really life satisfaction, is an overall assessment of how one is doing and is likely more influenced by higher goals and comparisons to others.
Money only buys happiness for a certain amount - Purdue University

I think the good ol' Boilermaker grad students who authored this study are off-- way off. The study states that the the ideal income point is $95,000 per individual. This is the kind of rubbish that leads folks to believe that they'll never retire with enough $ to live happily and well, let alone ER.
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Old 02-13-2018, 11:17 PM   #198
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It's well known that the devil tailors each experience to the individual sinner's dislikes, which the devil knows even better than the sinner does.

In other words, you may yet be surprised
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Old 02-16-2018, 11:49 AM   #199
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I think what you're trying to establish is not upper/middle/lower class living. Warren Buffet lives a middle class, possibly lower-middle-class lifestyle. He goes to McDonald's for the cheapest breakfast possible and drives a simple car. He lives in the same house he's lived in forever. .
Buffet's house is usually pictured from the front.

From that angle, it does appear to be a modest home.

But an aerial photo shows essentially another full-sized home at the back.

There's nothing "lower-middle-class" about where he lives.
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Old 02-16-2018, 12:08 PM   #200
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I have come to the conclusion that if you have ~$2.5m in NW NOT including your main living property. With a 4% WR ($100k PA) That would put you in the Middle to Upper Middle C!&$$ . Add SS and Pensions and it would put you squarely into the Upper Middle. JMHO I could be wrong.
Sounds like John Goodman's speech in the Gambler. Google it, but NSFW language.

Edit - look for the 1 minute version.
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