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What would you do if your assets grew to 8 figures?
10-14-2017, 09:25 AM
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#1
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 35,186
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What would you do if your assets grew to 8 figures?
What would you do if (or did you do when) your assets grew to 8 figures?
Would you change how you invest?
Would you change how you spend?
Other changes you can think of?
This is a hypothetical question, BTW, in spite of some folks thinking otherwise!!!
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Retired since summer 1999.
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10-14-2017, 09:26 AM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 49,491
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Congratulations! 
__________________
Numbers is hard
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10-14-2017, 09:27 AM
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#3
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 35,186
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I was thinking something fun like - as long as it's above 8 figures, spend (or gift) like crazy! Then when it drops below - whether it's due to spending or a market correction - go back to how you were doing things before.
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Retired since summer 1999.
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10-14-2017, 09:28 AM
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#4
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 35,186
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What?
Oh - it's not obviously a hypothetical post?
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Retired since summer 1999.
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10-14-2017, 09:36 AM
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#5
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2008
Location: On a hill in the Pine Barrens
Posts: 8,835
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 Quote:
Originally Posted by audreyh1
What?
Oh - it's not obviously a hypothetical post?
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You can't fool us!
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10-14-2017, 09:36 AM
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#6
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2014
Posts: 6,455
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Not much except pay even more attention to estate planning and maybe give more to charity. I can't even imagine spending more. I do two major trips a year (outside of North America) and that feels like enough. I have plenty of Stuff. If I bought DS and DDIL a McMansion I think I'd take away their pride in what they've done on their own (and they'd agree with me on that).
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10-14-2017, 09:38 AM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 15,461
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Way to go.... !!
I would ramp up things I do, to make them better.
For example, I'm pretty open to taking cruises as cruises are more interesting than spending 2 weeks mowing the lawn, grocery shopping, talking to neighbor, so I'd take one of those long expensive cruises for even more enjoyment:
21 COUNTRIES. 44 PORTS. 10 OVERNIGHTS.
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10-14-2017, 09:39 AM
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#8
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Recycles dryer sheets
Join Date: May 2016
Location: Orange County Ca
Posts: 162
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Not sure if changes would happen suddenly as approaching 8 figures would be pretty darn good as well! But..additional, and more luxurious travel e.g. 1st class air travel, better hotels and restaurants etc..
More gifting to family members, church and charities. A splurge now and then e.g. I really like fine watches but have a hard time justifying the prices. Maybe a slight car upgrade but nothing crazy.
Now, that said, I'd probably still be fighting my more frugal nature all of the way and may still have trouble pulling the trigger. Spending 6-8 times more on a plane seat could be a tough thing to swallow
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10-14-2017, 09:42 AM
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#9
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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I would become slightly more conservative . I would ramp up my gifting and I would get the kitchen of my dreams .Otherwise life would go on as usual .
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10-14-2017, 09:49 AM
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#10
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Thinks s/he gets paid by the post
Join Date: Oct 2016
Location: The Shire
Posts: 1,504
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My OMY would become OMS (One More Second). 
__________________
Paying it forward is the best investment.
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10-14-2017, 09:50 AM
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#11
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Jul 2006
Posts: 11,401
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It depends. If the increase was in line with inflation, the purchasing power would not rise dramatically, so I might not change anything, other than have a small celebration. However, if there was a dramatic increase way out of proportion to my expenses, I think I would “take things to the next level” (a vastly overused phrase!). I would buy a nicer home, hire a maid, and travel first class.
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10-14-2017, 09:55 AM
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#12
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Location: Denver
Posts: 3,425
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+1 Its always wonderful to see one of our "own" make it to the big leagues.
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10-14-2017, 10:03 AM
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#13
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2011
Posts: 8,368
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Quote:
Originally Posted by Sunset
Way to go.... !!
I would ramp up things I do, to make them better.
For example, I'm pretty open to taking cruises as cruises are more interesting than spending 2 weeks mowing the lawn, grocery shopping, talking to neighbor, so I'd take one of those long expensive cruises for even more enjoyment:
21 COUNTRIES. 44 PORTS. 10 OVERNIGHTS.
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Looks good to me.....(for starters, that is). 
__________________
"Exit, pursued by a bear."
The Winter's Tale, William Shakespeare
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10-14-2017, 10:07 AM
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#14
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Mar 2007
Posts: 14,328
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New shoelaces, good ones.
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10-14-2017, 10:14 AM
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#15
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Thinks s/he gets paid by the post
Join Date: Jul 2004
Posts: 1,362
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I would thank my lucky stars that it kept up with inflation because I am sure that is the only way it would get that far while I am still around.
If due to inflation - no change. If not, just have fun.
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10-14-2017, 10:14 AM
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#16
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 46,868
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Quote:
Originally Posted by audreyh1
What would you do if (or did you do when) your assets grew to 8 figures?
Would you change how you invest?
Would you change how you spend?
Other changes you can think of?
This is a hypothetical question, BTW, in spite of some folks thinking otherwise!!!
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I wouldn't invest any differently, and I wouldn't ramp up or change my lifestyle.
I might:
(1) set up an annual donation to each of two charities that I like
(2) make some political donations
(3) see if the city would allow me to spend some on independently hiring a crew to repair potholes, since they spend a lot on this with no good results
(4) commission a good artist to make a dozen more beautiful, representational sculptures for New Orleans; what I mean is metal sculptures similar to those seen in many cities in Europe and the U.S. These sculptures could be of non-contraversial historical figures from more than 200 years ago. I love both art and history, and I think more sculptures would beautify New Orleans.
As for gifts, I'd try to give some of it to F, but I doubt he would accept that sort of gift. My daughter "married well" so she already has more than enough.
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Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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10-14-2017, 10:26 AM
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#17
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Recycles dryer sheets
Join Date: May 2010
Posts: 484
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Minor change of 5% increase in bond/cash exposure. That's it.
__________________
You've got to ask yourself one question: Do I feel lucky? Well, do ya, punk?
Retired July '11 investments in very low cost index and mutual funds, balance once a year at best.
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10-14-2017, 10:32 AM
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#18
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gone traveling
Join Date: Nov 2011
Location: The Deep South Bay
Posts: 744
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I'd be spending it like a druggie needing a fix, my spending habits changed considerably when I made the 7 figure mark, 8 figures and I'd be throwing money around like no tomorrow
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10-14-2017, 10:32 AM
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#19
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,505
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Congratulations! ( Hypothetically, of course!)
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10-14-2017, 10:37 AM
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#20
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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Blow more dough!
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