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Old 01-21-2021, 11:23 AM   #181
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One thing I like about reading these is finding I only cracked the 80% earning threshold 4 times in my career, but my net worth is over 90%
Makes me feel I'm doing something right.
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Old 01-21-2021, 12:00 PM   #182
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Originally Posted by GravitySucks View Post
One thing I like about reading these is finding I only cracked the 80% earning threshold 4 times in my career, but my net worth is over 90%
Makes me feel I'm doing something right.
Very nice. I never made 30k a year until I was 41 years old. Retired at age 51. My net worth is in the top 12%.
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Old 01-21-2021, 04:01 PM   #183
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Threads like this can have a profound societal impact. As an example, a list of 1%'s came in very handy during the French revolution.


Oui. What would Vanguard do with all our funds if their Flagship customers got the guillotine?
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Old 01-21-2021, 08:24 PM   #184
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Oui. What would Vanguard do with all our funds if their Flagship customers got the guillotine?

If that happened, institutions like Vanguard would be burnt to the ground, and the financial workers running for their life. There would be no more stocks or bonds, and that's that.
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Old 01-22-2021, 04:53 AM   #185
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Wow never thought this thread would be so active. Interesting some of the reactions. In terms of the guillotine, I think some of the "masses" would sooner give us a handout, then chop off our heads, unless they saw our net worth, as we are definitely LBYM and look it despite being high up the net worth scale. Consider all those who lease cars and get a new one every 3 years. The combined age of our 2 cars is 30 years. Like so many here, we have been diligent over the years, and that, not very high income, has brought us to where we are.
Maybe it is silly, but I have always found it interesting where we stack up, maybe even a bit of a goal of sorts. Also impressive how much wealth is out there.
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Old 01-22-2021, 05:04 AM   #186
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We were friendly with our neighbors for decades, until recently.

Very appropriate article I just found:

One day, they introduced us to their financial adviser…We dug trenches, poured concrete foundations, and worked to build our house; they hired contractors. They traded in cars frequently; we ran ours into the ground

https://www.marketwatch.com/story/we...siteid=yhoof2#
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Old 01-22-2021, 08:01 AM   #187
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firewhen, that is a great article. thanks for posting.

We never had a problem like that as we were too busy with the day-to-day and staying afloat. We did not run with the popular crowds around us. In fact we probably seemed very boring to those with cash to spare.
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Old 01-22-2021, 09:25 AM   #188
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Very appropriate article I just found:



One day, they introduced us to their financial adviser…We dug trenches, poured concrete foundations, and worked to build our house; they hired contractors. They traded in cars frequently; we ran ours into the ground



https://www.marketwatch.com/story/we...siteid=yhoof2#


Interesting story but I’m pretty sure we’ve had no relationships like that, because we can smell condescension from a mile away and would have been turned off from the outset, and I surely hope we don’t behave that way with others.
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Old 01-22-2021, 10:33 PM   #189
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For some people it's a way of keeping score. For others, it's verification of their belief that some people have "too much".

I never earned enough to get anywhere near the top 1% but I don't begrudge anyone who was that successful. I know people in business that did well and have attracted some envy but those people were never there when they were working 80 hours a week and thankful that their spouse worked so that they could buy groceries and pay the utilities.

The envious only show up after all the years of hard work when success has been attained.
You missed one. In some cases it’s due to being insecure and learning to feel it’s ok to spend. It can serve as reassurance that you’re doing well enough you can relax and stop worrying about it. I still have trouble with this.
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