Armor,
I am sorry for your family situation. Mine was solved with distance. All my family and my late wife's family are back east.
There is a YouTube channel I love watching called “My Self Reliance”. A man bought property, and is in the process of building his own log cabin, and growing enough food to sustain his family. Love it. I am truly envious. Has way less money than me, but is “wealthier” is his life and what he gets to do… than I will likely ever be..
It's too late for me but I'd love to know (maybe via PM) what business allowed the OP to earn such a high income in a single year since I've got one kid who just finished undergrad & has an entrepreneurial bent.
Absolutely. Even around here—an anonymous Internet forum focused on early retirement—a statement like that may get (gently) mocked as a "humble brag". It's very risky, socially, to ever divulge the details of one's monetary success or good fortune in this country. It's been so drilled into us our entire lives that money is a status symbol, a direct measure of success (or failure), that it's impossible for most people to feel anything other than envy, jealousy, anger, or resentment at the news of someone else's financial gain. Most people hear the simple statement "I made $4m last year" as something like "Hey buddy, you see my watch? This one I'm wearing right here on my wrist? This watch cost more than your car. I made four million dollars last year, how much you make? You see, that's who I am... and you're nothing."
It seems to me that's one of the reasons why "the less fortunate" folks are staying where they are. They don't want to hear it, to learn & improve, they resent, they steer "the successful" folks away from sharing how they get there so their feelings won't get hurt.
As a result of all that, the so-called "successful" ones get more successful because the marketplace remains with limited competitors out there while "the less fortunate" folks remain where they are being envious and angry. The cycle continues.
Never discuss specifics but it was clear to everyone that I live well and retired in my early 50’s so many were curious. I won’t talk about my holdings but will educate people on investment options, how I set things up to receive passive income, how 1031’s work etc, how AirBnB has been a real bonanza etc. Also what it means to be an expat living mostly in another country. People are curious and are want to learn I am happy to help!What are some of the financial "Success/Secrets" you can only share with strangers here but not families/friends because the risk of envy, jealousy or unwanted attention. For me, that is: I made $4m last year. I am hella happy about it but it seems socially unacceptable to share that with friends or even relatives because it will always appear as 'showing off' somehow...
What's yours?
income, savings rate, and net worth are best kept quiet in the real life
Define wealthy.
Dad earned a high income via his business but he & all his friends I knew with exceptions I can count on the fingers of one hand simply spent it.
And I wouldn't classify any of them as humble...more like "I and I alone am responsible for my success."
It didn't help their high-consumption lifestyles attracted every hustler/conman/scumbag around.
In the end Dad had to sell his business for maybe half what it was worth just to have enough funds for him and his wife in their later years...and Dad was not as profligate as most of those around him.
It's too late for me but I'd love to know (maybe via PM) what business allowed the OP to earn such a high income in a single year since I've got one kid who just finished undergrad & has an entrepreneurial bent.
+1We don't share any financial info with friends or family. Nobody knows our net worth.
The problem with sharing success information with family/friends is the uncomfortable stress in the air when said family/friends are in financial trouble. We made a mistake by sharing some of the information. Thus, in a social group situation, the topic, although not directly talked about, is hanging in the air.
I'm your relative/BFF, you have money, I need money, help me out. This is awful. It is 100% the best to keep your stuff private. There's nothing wrong with talking about strategy or LBYM type saving or investing. Just keep the numbers out of it.
Small hat with lots of cattle has always been my motto since I heard the saying years ago but of course it's all relative. My "lots of cattle" may be peanuts to your lots of cattle.
Enough beef for me is all I need.Small hat with lots of cattle has always been my motto since I heard the saying years ago but of course it's all relative. My "lots of cattle" may be peanuts to your lots of cattle.
It seems to me that's one of the reasons why "the less fortunate" folks are staying where they are. They don't want to hear it, to learn & improve, they resent, they steer "the successful" folks away from sharing how they get there so their feelings won't get hurt.
As a result of all that, the so-called "successful" ones get more successful because the marketplace remains with limited competitors out there while "the less fortunate" folks remain where they are being envious and angry. The cycle continues.