Wealth Accumulation

[Koolau]

Hawaii's great climate and clean air have wonderful impact on one's health, no?

Hawaii is the longest-lived state. I have always thought it was because people in Hawaii WANT to live longer to enjoy our beautiful Islands. I'm sure the "scientists" would say it has more to do with our much higher population of people groups who eat fish, rice and tofu instead of beef, bread and potatoes. I don't know - but I want to live a long time! YMMV

 

[NW-Bound]

... I'm sure the "scientists" would say it has more to do with our much higher population of people groups who eat fish, rice and tofu instead of beef, bread and potatoes. I don't know - but I want to live a long time! YMMV

So, I take it that you are now eating mainly fish, rice, and tofu? No more meat and potatoes?

 

[harwich]

Slow and steady

Slow and steady wins the race

 

[Koolau]

So, I take it that you are now eating mainly fish, rice, and tofu? No more meat and potatoes?

I'm w*rking in that direction. After 60 years on the planet I found out I actually like fish. Even raw (not my favorite.) Who knew? I always thought fish was what came in those boxes labeled "fish sticks." Now I find out fish doesn't have to taste "fishy." YMMV

 

[yakers]

Not exactly 'wealth' more like some asset accumulation, worked for the US Govt (mostly NASA) not a route to wealth but the key with controlled income is controlling expenses. Fortunately DW is quite frugal too. Bought a house out of probate and fixed it and lived in it for 30 years. Saved in TSP(Fed 401k fund) and some taxable investments. DW was a teacher, not well paid or a lot of years (25) but it all helped. She retired @ 57 two years before I retired @57 in 2008, after a night in the cardiac ward told me this is the time. Sons went to state schools, did well enough.
Late in life DW had an inheritance about 25% of our portfolio. So now we're in a condo (paid for, Zillow suggests $900K-$1M,) and portfolio down a bit from $2M in 2021. Kicking travel up again post COVID.
My suggestions as said by a number of others is the key is LBYM and absoutely priceless, marry someone who sees financial issues (and other issues!) similarly.

 

[SumDay]

We're both college educated, very little debt upon graduation, only for DH. We both worked for Fortune 500 corporations for 30ish years, and we started contributions to our 401k's from day 1. Didn't buy too much house, but did opt to send the kids to parochial schools. No regrets there. I inherited some real estate when my dad died, and I liquidated most of it, unfortunately it was in 2008-09, but I wanted out. Those funds put us over the top, paying off the house. I have a small pension, our SS is pretty good and our retirement savings is more than adequate. Almost daily we discuss our gratitude and good fortune. We worked hard, but so do lots of other folks who don't cross the finish line as well as we did.

 

[Milkman]

I had numerous "bumps in the road" in my adult life. I was fired three times (not in the good way), had two divorces, and lost a third wife to cancer. I finally figured out some of the secrets to a good marriage and am now married to the love of my life for the past 20 years.

On the financial side I managed to save the maximum amount in IRAs from the time they became available in 1984. I managed this every year, with one year's exception, until I retired in 2014. Same thing with 401Ks since I was first eligible for one in 1984. I paid the maximum, also with one year's exception. Most of these investments were in mutual funds, using index funds when they were available. I was blessed with inheritance money as well. When my father passed, I split his estate with my step mom. From my half of the funds I paid her dividends and interest from the investments until she passed away 10 years later. Also I was conservator for my aunt (father's youngest sister) for 6 years until she passed away. I split her estate equally with my two cousins.

I retirement, I waited until I was 70 until I took social security. For the past 9 years I have been using dividend growth stocks for income. I was almost 100% in equities until a couple years ago when CDs started to pay a decent rate of interest. Now I am roughly 25 - 30% in CDs and T-bills. Home, cars, and motorhome are all free and clear. We save more now than when we were working, we live better than we ever thought possible, and life is good.

 

[socca]

What about becoming a gold digger and acquiring wealth that way?

I got a laugh from this dating website that was mentioned over on reddit: Miss Travel. There are two categories of membership:

(1) DO YOU WANT TO WHISK SOMEONE AWAY? Generous members have the resources to travel in luxury and wish to share the experience with a beautiful companion.

(2) DO YOU WANT TO BE WHISKED AWAY? Attractive members desire a lavish lifestyle and enjoy spending time with wealthy people who provide companionship and access to the best that life has to offer.

I considered registering as someone who wants to be "whisked away" (where's my sugar mommy? ) and then surprise my "date" by paying for everything. The only problem is that I don't desire a lavish lifestyle - yuck.

 

[COcheesehead]

I got a laugh from this dating website that was mentioned over on reddit: Miss Travel. There are two categories of membership:

(1) DO YOU WANT TO WHISK SOMEONE AWAY? Generous members have the resources to travel in luxury and wish to share the experience with a beautiful companion.

(2) DO YOU WANT TO BE WHISKED AWAY? Attractive members desire a lavish lifestyle and enjoy spending time with wealthy people who provide companionship and access to the best that life has to offer.

I considered registering as someone who wants to be "whisked away" (where's my sugar mommy? ) and then surprise my "date" by paying for everything. The only problem is that I don't desire a lavish lifestyle - yuck.

Wow, talk about advertising to get ripped off.

 

[Gumby]

Just call me "studmuffin".

 

[Retired Expat]

Wow, talk about advertising to get ripped off.

Did that once, well not the website but the concept of a weeklong date on a luxury trip to Europe. Wasn’t a blind date or anything and I thought we were compatible….. Thought being the operative term. An expensive mistake! Was young and foolish.. well middle aged and stupid while she was young and beautiful and terrible company.

Now I travel with my current wife who is older and I enjoy every minute of it…

 

[athena53]

I considered registering as someone who wants to be "whisked away" (where's my sugar mommy? ) and then surprise my "date" by paying for everything. The only problem is that I don't desire a lavish lifestyle - yuck.

I suspect you'd better look darn good in Speedos or a bikini (depending on one's sex). In a way, it's honest. The pay-er is purchasing the company of someone who's drop-dead gorgeous and undoubtedly much younger. The pay-ee gets to see nice places just for looking pretty (and maybe more depending on the agreement).

In my forays into on-line dating I skipped over quite a few profiles from guys who were into "fine dining on the Plaza" (very upscale eating and shopping area near me). I realized I'd had my fill of fine dining in my career and didn't want to contribute half the cost nor did I want some guy picking up 100% of the tab. but apparently there's a sub-group of women who use first dates at such places as a way to experience the latest cool eateries at someone else's expense.

 

[Mr. Tightwad]

Been with the same GF for 5 years, but prior to her, I had a dozen or so women ask me for $. None got a penny. Some asked early after meeting them, some waited 4 months.

It doesn't bother me if they try. The world is the way it is.

 

[COcheesehead]

Did that once, well not the website but the concept of a weeklong date on a luxury trip to Europe. Wasn’t a blind date or anythingand I thought we were compatible….. Thought being the operative term. An expensive mistake! Was young and foolish.. well middle aged and stupid while she was young and beautiful and terrible company.

Now I travel with my current wife who is older and I enjoy every minute of it…

Well at least the “young and beautiful’s” husband didn’t show up with a gun, have you empty your accounts and turn over the keys to your house and car. I mean it could have been worse.

 

[athena53]

Slow and steady wins the race

I agree. When I read social media posts about "what I'd do if I won the lottery" I cringe at most- buy a giant house, give money to family, drive a fancy car...easy come, easy go. Ever watch "My Lottery Dream Home"? Some are reasonable (won $800,000 want to spend $200,000) but others go over-the-top and apparently aren't thinking about utilities and the cost of maintaining the landscaping, the pool, the lights in the cathedral ceilings, etc.

You're much more cautious about squandering it when you did it the boring way- a few dollars at a time.

 

[socca]

Wow, talk about advertising to get ripped off.

Yeah .. the scenario I imagine is waking up naked in the hotel room after being drugged with everything gone: my suitcase, clothes, keys, passport, cell phone, laptop, rental car, etc. I later learn that my "date" returned to my house with her accomplices and ransacked it. Ouch.

Don't want to hijack this thread ... so back to our regularly scheduled programming.

 

[NW-Bound]

^^^ Hmmm... I never had such nightmares. I guess I did not date much before getting married.

 

[NW-Bound]

Speaking of taking a date to an exquisite dinner, I happened to run across this short movie recently.

 

[COcheesehead]

^^^ Hmmm... I never had such nightmares. I guess I did not date much before getting married.

You never publicly advertised to pay for some random woman’s trip? You never lived brother.

 

[NW-Bound]

^^^ Hah! When I was young, where was the money for that?

We got married when I just got out of grad school. And while we dated in college, we went to the student lounge to watch movies where a ticket was $1. Eating out was at Cafe Casino, a French-style buffet in Scottsdale, long defunct. When in internship, I had to borrow her car to go to work when my car broke down.

Where's the money, plus I was already spoken for?

 

[COcheesehead]

^^^ Hah! When I was young, where was the money for that?

We got married when I just got out of grad school. And while we dated in college, we went to the student lounge to watch movies where a ticket was $1. Eating out was at Cafe Casino, a French-style buffet in Scottsdale, long defunct. When in internship, I had to borrow her car to go to work when my car broke down.

Where's the money, plus I was already spoken for?

You realize this is a tongue in cheek discussion riiiiiiight?

 

[Koolau]

Yeah .. the scenario I imagine is waking up naked in the hotel room after being drugged with everything gone: my suitcase, clothes, keys, passport, cell phone, laptop, rental car, etc. I later learn that my "date" returned to my house with her accomplices and ransacked it. Ouch.

Don't want to hijack this thread ... so back to our regularly scheduled programming.

Heh, heh, with a dream like that, we'll let it go this time.

 

[NW-Bound]

You realize this is a tongue in cheek discussion riiiiiiight?

I dunno. Some posters here could be doing that, for what I know. Could be fun for a single guy.

 

[Letj]

Wow, talk about advertising to get ripped off.

They’re not putting out for free. Quid pro quo. Sounds more like a hook site or a variation of sugar daddy/sugar mama.

 

[COcheesehead]

They’re not putting out for free. Quid pro quo. Sounds more like a hook site or a variation of sugar daddy/sugar mama.

I don’t know what those sites are, but my point is folks are advertising I HAVE LOTS OF MONEY. People prey on things like that.