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Old 10-17-2017, 06:58 AM   #141
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Agree. Lets go the other way. Say you lose 80% of your $10million, are you suddenly less worried? Doubt it.
Am I less worried still having $2M than I am with $400K (80% loss on $2M)? You bet I am! Not happy with either, but with the latter I'm back to looking for work, while I can still live on the former.

And to Robbie's point, sure, I'll spend more if I have 10x the money, but I won't spend 10x more. And it would be on stuff that would be very easy to back off of. I enjoy your posts for the most part Robbie, but your "gotta blow that dough" mantra sounds really misguided to me. My goal would be to enjoy life as much as I could, using my money to enable that, but the goal would not be focused on spending money. Experiences, "stuff", and helping others can bring enjoyment and satisfaction to me. The act of spending money for spending sake does nothing. I suspect you don't really do that either, but it sounds stupid when you repeat it so often. Sorry, I searched for a less offensive word but that one captures it, and I made sure I'm attacking the posts and not the poster.
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Old 10-17-2017, 08:11 AM   #142
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LOL! I enjoy Robbie's mantra. It's a refreshing break from all the very careful spenders in this forum. It's just for fun, I expect.
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Old 10-17-2017, 08:38 AM   #143
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I would hire staff.
Yep, that was my first thought ! I'd get a weekly housekeeper and a weekly lawn service.

I'd also hire a vet tech to housesit 24x7 with my pooch so DH and I could travel a bit more (actually, we don't travel at all now). There are only a few places I really want to visit, but I'd complete the travel bucket list within 2 years.

I would change my allocation to 40/60 and donate more to help the environment and wildlife. I'd probably also give enough money to my Church to add a new building and refurbish the current Church building.

I love my currently lifestyle and really don't need to change anything at all. I just hate cleaning and DH deserves a break from taking care of the landscape.
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Old 10-17-2017, 09:04 AM   #144
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LOL! I enjoy Robbie's mantra. It's a refreshing break from all the very careful spenders in this forum. It's just for fun, I expect.
Oh, it doesn't bother me that much, and I enjoy hearing about the stuff he is spending money on. And between my posts, I just booked a first class flight for holiday travel, but only because I can afford it and get value out of separating myself from the holiday crush rather than because I feel the need to blow money. I still can't tell if he gets more fun out of what he spends it on, or just that he is spending it (and bragging about it).
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Old 10-17-2017, 10:20 AM   #145
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The more you have the more you become a scam target. For example, "Richard Branson: A scammer came after my millions" http://money.cnn.com/2017/10/17/news...cam/index.html
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Old 10-17-2017, 10:32 AM   #146
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The more you have the more you become a scam target. For example, "Richard Branson: A scammer came after my millions" Richard Branson: A scammer came after my millions - Oct. 17, 2017
Yeah - just read that and thought it deserved its own thread which I am about to do.
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Old 10-17-2017, 10:34 AM   #147
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I have friends at work with 6,000-10,000 sqft houses with pools, saunas, hot tubs, tennis courts, etc and I don't understand what they do with that space? They don't play tennis and rarely go in the pool . At 2800 sqft I don't even set foot into my "formal dining room" and we almost never use the 4th bedroom. So I don't really get it other than "because we can."
I think this poster is exactly right. I never lived in a place that big, but when I was married my exDW talked me into a new 4,100 sq ft place with high ceilings, fancy everything. I later realized it was mostly a form of "humble bragging" since I really didn't enjoy the house itself. Tons of cleaning, headaches, finding the kiddos, etc. And even when we hired help, the cleaners were rarely consistent, the lawn guy didn't always show up, etc. Now I live in an older, smaller place and feel much happier. (Although I still pay for the fancy one where the ex lives via alimony. )
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Old 10-17-2017, 10:48 AM   #148
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Dealing with hired help seems like it often turns out to be a royal pain.
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Old 10-17-2017, 11:36 AM   #149
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As I've watched this thread progress, the many cogent responses got me thinking: Is 10 million really a lot any more? It doesn't even make you a one percenter these days, does it?

[...]

It's curious how modest our ambitions are when we contemplate adding that extra digit. I notice that the posters here who already are well into 8 figure territory don't talk about building Biltmore House-style palaces. They may snowbird very comfortably. They may fly first class, or perhaps charter the odd flight. But celebrity-scale, massively conspicuous consumption doesn't appear on anybody's radar here. Maybe that tells us that 10 million just isn't that much.
Ehh... not sure I'd say that $10 million "just isn't that much." It's a lot. It could easily support a $300K per year SWR. $25K/month. That's a very, very comfortable, luxurious level of spending. So much so that I have trouble actually thinking of myself ever spending that lavishly. I'd have to get quite creative and really push myself to get there, probably tripling (or even quadrupling) my spending in nearly every budget category. Sure, it's not mega-celebrity-scale spending, but from my perspective, that doesn't equate to "not that much."
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Old 10-17-2017, 12:20 PM   #150
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What's the point of spending the same amount no matter how much you have?
Dear Rob,

As an eager devourer of all your "blow that dough" posts, I have to wonder. You appear more than fully tasked with pursuing epicurean experiences I had never heard of. If you had 10X the dough, would you even have time to spend more?
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Old 10-17-2017, 12:39 PM   #151
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Dealing with hired help seems like it often turns out to be a royal pain.
And a slight risk to personal security. I feel like wealth is pointless unprotected. Letting more and more strangers into this realm increases risk.

Right now 7 seems so far away, but I know 8 is doable in my life. Will likely take me another 40-50 years at which point that same 8 figures won't go nearly as far.
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Old 10-17-2017, 12:47 PM   #152
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And a slight risk to personal security. I feel like wealth is pointless unprotected. Letting more and more strangers into this realm increases risk.
Back in the 1960s in Toronto I had a friend who was married to a girl from Guatemala......well off family, she attended a private school in Ontario.

She told of one branch of her family, equally well to do, who all sat down to dinner one night and woke up the next morning still sitting in their chairs.....appears that the maid(s) had drugged them and, doubtless with assistance, had cleaned the house out.
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Old 10-17-2017, 12:49 PM   #153
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Ehh... not sure I'd say that $10 million "just isn't that much." It's a lot. It could easily support a $300K per year SWR. $25K/month. That's a very, very comfortable, luxurious level of spending. So much so that I have trouble actually thinking of myself ever spending that lavishly. I'd have to get quite creative and really push myself to get there, probably tripling (or even quadrupling) my spending in nearly every budget category. Sure, it's not mega-celebrity-scale spending, but from my perspective, that doesn't equate to "not that much."
I expect $10M would be a meaningful fortune here in The Shire, but in New York or London or Tokyo, how far would it really go? A three bedroom house in town, a pair of new cars, golf club membership, dinner and a show once or twice per week, and - poof! - your allowance is all spent. Certainly a comfortable existence, but hardly lavish.

$90 million? Now you're talking lavish.

"I'd have to get quite creative and really push myself" Perhaps you could study the writings of Professor RobbieB on these pages. A most creative and energetic individual.
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Old 10-17-2017, 01:04 PM   #154
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I use it to encourage myself to blow more dough -

It takes effort to forgo the frugality of so many years before. It takes effort to convince myself to hire projects I used to do myself.

If I found myself 10X richer I wouldn't spend 10X more either. But I would spend 3X more -

Have fun!
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Old 10-17-2017, 01:26 PM   #155
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Id employ my own personal masseuse
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Old 10-17-2017, 01:38 PM   #156
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And a slight risk to personal security. I feel like wealth is pointless unprotected. Letting more and more strangers into this realm increases risk.
Yes that too, unfortunately.
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Old 10-17-2017, 03:15 PM   #157
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I would leave most of it to my favorite charities, including Paws - The Performing Animal Welfare Society - a sanctuary for abused elephants and other circus animals.
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Old 10-17-2017, 04:13 PM   #158
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Is 10 million really a lot any more? It doesn't even make you a one percenter these days, does it?
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I expect $10M would be a meaningful fortune here in The Shire, but in New York or London or Tokyo, how far would it really go?
Very valid points. I was just thinking recently about the TV show from the 50s, "The Millionaire". In that series, some random person received a gift of a tax-free $1,000,000 from an anonymous donor.

At the time, everyone clearly understood what a million dollars represented, and what the lifestyle of a "millionaire" could be like. Caviar, servants, champagne for breakfast, all that stuff.

But given the cumulative inflation since that series was on the air, the equivalent amount today would be roughly $10 million. So just because someone has one (or even several) million bucks today doesn't really make him or her a "millionaire" as it was traditionally understood. Certainly "comfortable" or "well off", but hardly the real thing.

It's just as interesting to me that those here on this forum who have the assets to be considered real millionaires in today's terms seem to be perfectly normal, down to earth people who don't have their noses in the air and can fit in very well with the rest of us. So even the concept of "millionaire" has been superseded as today we talk about billionaires like Gates, Buffett, etc. and "everyone else."
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Old 10-17-2017, 06:21 PM   #159
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Dealing with hired help seems like it often turns out to be a royal pain.
We employ several “hired help” (cleaners, gardeners, property managers, pool guys, etc). and it is certainly better than doing it yourself. A royal pain? Shouldn’t be, but if so, get better help.
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Old 10-17-2017, 06:26 PM   #160
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Am I less worried still having $2M than I am with $400K (80% loss on $2M)? You bet I am! Not happy with either, but with the latter I'm back to looking for work, while I can still live on the former.

And to Robbie's point, sure, I'll spend more if I have 10x the money, but I won't spend 10x more. And it would be on stuff that would be very easy to back off of. I enjoy your posts for the most part Robbie, but your "gotta blow that dough" mantra sounds really misguided to me. My goal would be to enjoy life as much as I could, using my money to enable that, but the goal would not be focused on spending money. Experiences, "stuff", and helping others can bring enjoyment and satisfaction to me. The act of spending money for spending sake does nothing. I suspect you don't really do that either, but it sounds stupid when you repeat it so often. Sorry, I searched for a less offensive word but that one captures it, and I made sure I'm attacking the posts and not the poster.
Spending money for spending sake is indeed stupid. I certainly don’t do that and Im surprised you think I do. Really have to be careful around here how you say things I guess? Or at least some of us do. Maybe you should be a little more specific as to what you think “sounds stupid”. I agree with everything else you said.
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