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Old 08-26-2021, 10:32 AM   #41
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We have never paid much attention to it.

Never understood the apparent fascination or interest in comparing one's net worth to others or to how the number compares relative to others in the country. Same with one's level of spending pre or post retirement.

What is the point? Seems rather meaningless to us.

We are only interested in our net worth, our own retirement.

Is it an ego thing, a busybody thing, or an insecurity thing? Don't know.
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Old 08-26-2021, 10:47 AM   #42
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NW is relative.
This is especially true if you are expecting a large inheritance.
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Old 08-26-2021, 10:59 AM   #43
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Originally Posted by watchman3135 View Post
... wondering if others seeing higher net worth's make you feel somewhat of a bit of a failure? ...
Most of what we have in life is the result of good luck, starting in our case with being born white and American, with many more lucky breaks along the way. This is also true of the political Kennedys and the financial Waltons and Buffets. While we continually marvel at our good luck, we certainly don't consider ourselves to be failures because others lucked into better parents or had other wonderful luck.
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Old 08-26-2021, 12:01 PM   #44
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Spoiler alert: the next $1M will come faster than the last one, and so on...
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Old 08-26-2021, 12:10 PM   #45
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Spoiler alert: the next $1M will come faster than the last one, and so on...
Unless a bear market starts today/tomorrow.
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Old 08-26-2021, 12:13 PM   #46
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Congrats. I hit the same milestone (passed up $2M in investment accounts) earlier this year. I retired with $1.5. Note - like you, doesn't include paid off house, and, in my case, 529 accounts.

Retired 7 years ago and still feel lucky and rich to have been able to do so at a youngish age. (was 52).

As for those with >$5M who worry about having enough - those are people who want a FAT fire... It's a valid choice, just not the one I made.
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Old 08-26-2021, 12:22 PM   #47
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Nope.

Some have less, others more. Same as it ever was.
Yup and there are many reasons how these various net worth's evolved.
There will always be someone who has a higher net worth. Doesn't bother me in the least.
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Old 08-26-2021, 12:25 PM   #48
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This is especially true if you are expecting a large inheritance.
Nice one.
With Redduck and Nemo not posting anymore, good to read these one liners.
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Old 08-26-2021, 12:28 PM   #49
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As for those with >$5M who worry about having enough - those are people who want a FAT fire.
Perhaps it's not the desire for a FAT FIRE that drove them to want a bigger FIRE portfolio but other particular needs. One example I'm familiar with and close to is having special needs kids or grand kids where you want to be able to establish significant special needs trusts for them and/or have it be likely they'll receive a substantial inheritance.
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Old 08-26-2021, 12:31 PM   #50
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I said it before and ill say it again. No better time to be alive than right now. Money is flowing! Markets are strong. All of our NW has increased significantly. Anyone who isnt making money now is in a doomsday shelter.
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Old 08-26-2021, 03:58 PM   #51
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The whole idea of FIRE is you are doing things on your own terms. That to me does not include worrying about how others do it.
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Old 08-26-2021, 07:18 PM   #52
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Rest assured, just about anyone posting here is better off than most of the world.

I count my blessings and keep a healthy perspective. The whole idea of FIRE is you are doing things on your own terms. That to me does not include worrying about how others do it.
Very well said. I just found this community and I already agree with that statement.

The past two days we’ve had 2 different sets of long time good friends come visit us at our 2nd home…our beach condo. Although they are very supportive , I can’t help but feel a little self conscious about our “blessings” and what our friends might think about our good fortune. Then I remember that my wife and I have busted our asses all our lives to get what we have. No handouts from parents or large inheritance.

I really don’t compare ourselves to anyone else, but I am already appreciating the fact that I can discuss any wealth/ financial planning and other ER topics and our specific circumstances with others here without judgement. I will open up more and contribute as I get more familiar with the site and the topics.
Thanks for providing a great forum to gain valuable information and share our successes.
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Old 08-26-2021, 07:33 PM   #53
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V
I really don’t compare ourselves to anyone else, but I am already appreciating the fact that I can discuss any wealth/ financial planning and other ER topics and our specific circumstances with others here without judgement. I will open up more and contribute as I get more familiar with the site and the topics.
Thanks for providing a great forum to gain valuable information and share our successes.
Without judgement may be a stretch. :P But at least it is judgement that doesn't matter.
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Old 08-27-2021, 05:07 AM   #54
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Originally Posted by watchman3135 View Post
We hit a milestone and officially entered multi millionaire status. I see tons of people on this forum who have 2-5X that and was wondering if others seeing higher net worth's make you feel somewhat of a bit of a failure?

When I see other posters who have a five or seven million dollar net worth and are truly concerned if they have enough to retire, it makes me wonder why I'm not worried with much less? Am I missing something?
It all comes down to what WR you need to be comfortable. We have hit a NW that I never expected, and can spend much more than we did before RE at a WR of 2.5%. I give no thought at all to those who have more.
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Old 08-27-2021, 05:46 AM   #55
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Whenever one starts comparing themselves to others, it could be an easy way to feel like a failure.
What's in your bank account is all that matters.
I had this feeling when I 1st started looking around on here... and comparatively to many stories on here.... we seem to be poor. Our current NW is less than $500K. But thanks to the forum and great folks on here, We have be able to figure how to manage and make the best of what we have. I'm retiring this year at 58, DW in about 5 years at 57. We wont be buying brand new cars every other year or taking round the world cruises, but looks good at having more than enough to enjoy the rest of our lives fairly comfortably...
Thats a peace of mind that makes us feel....
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Old 08-27-2021, 06:44 AM   #56
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NW is relative.
+10 One could have ~$3m worth of stuff and $300 in the bank to support it.
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Old 08-27-2021, 06:47 AM   #57
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+10 One could have ~$3m worth of stuff and $300 in the bank to support it.
And I think there are more of those people out there than we think. The illusion of wealth is very important to many and they can go out and mortgaged to the hilt with big house, expensive cars etc. and many do.
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Old 08-27-2021, 07:01 AM   #58
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And I think there are more of those people out there than we think. The illusion of wealth is very important to many and they can go out and mortgaged to the hilt with big house, expensive cars etc. and many do.
I think you are spot on!

That is why NW is something I don't use as a measuring tool. NW maybe relevant and closely related too but it always seems like a mirage to me. Just my 2¢.
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Old 08-27-2021, 07:11 AM   #59
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If you are living a comfortable and happy life and can sustain that, what more do you need? There will always be people who are richer, better looking, more athletic, smarter, etc but it really does not effect me one bit.
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Old 08-27-2021, 11:32 PM   #60
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Net worth has been kinda fun to watch here lately, but "enough is enough." Heh, heh, if I envy anyone here, it's for your youth and health.
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