walkinwood
Thinks s/he gets paid by the post
https://ofdollarsanddata.com/climbing-the-wealth-ladder/
An interesting take on wealth based on what difference an amount makes to you based on where you are in your life. For example, $50,000 doesn't make a difference to a billionaire, but would to most of us here. $1,000,000 net worth is amazing for a twenty-something person, but not that impressive for someone who is retiring this year or is 65.
He looks at it from a more everyday perspective too - are you wealthy enough that you could ignore grocery prices, or restaurant prices, or vacation prices etc.
I think the idea has uses in the spending phase of ER too. Many of us here have an issue with spending money (a subject of a number of threads), so this would be a good rule-of-thumb to see if you're putting your retirement in danger or not.
An interesting take on wealth based on what difference an amount makes to you based on where you are in your life. For example, $50,000 doesn't make a difference to a billionaire, but would to most of us here. $1,000,000 net worth is amazing for a twenty-something person, but not that impressive for someone who is retiring this year or is 65.
He looks at it from a more everyday perspective too - are you wealthy enough that you could ignore grocery prices, or restaurant prices, or vacation prices etc.
I think the idea has uses in the spending phase of ER too. Many of us here have an issue with spending money (a subject of a number of threads), so this would be a good rule-of-thumb to see if you're putting your retirement in danger or not.