Ready-4-ER-at-14
Full time employment: Posting here.
I am curious what people think about living your entire life accumulating enough to feel good about that passive income and suddenly see those amounts growing exponentially and exceeding your basic needs for your normal cushy life costs.
Having reserves for inflation, unplanned medical care, family help, or market meltdowns are a given, but what amount of excess is reasonable? 2x the need, 3x, 4x?
When I think about the very rich like Carnegie, or even Warren Buffet, it seems they gave a part of a huge amount that I assumed covered their fixed costs and much more.
I still have younger family we can help and I suppose I could gift a charity or two that I have supported in the past.
I'm curious about the spend the dough concept out there. Have any of you made abrupt and major changes like moving from a ranch house to your private island or traded in your VW bug for a Lear jet? And if so do you miss the old life?
Having reserves for inflation, unplanned medical care, family help, or market meltdowns are a given, but what amount of excess is reasonable? 2x the need, 3x, 4x?
When I think about the very rich like Carnegie, or even Warren Buffet, it seems they gave a part of a huge amount that I assumed covered their fixed costs and much more.
I still have younger family we can help and I suppose I could gift a charity or two that I have supported in the past.
I'm curious about the spend the dough concept out there. Have any of you made abrupt and major changes like moving from a ranch house to your private island or traded in your VW bug for a Lear jet? And if so do you miss the old life?