Ronstar
Moderator Emeritus
No, I still do not have $5M, not even as net worth if I include my 2 homes.
+1. I doubt I will get there. I tend to gear my spending a little below my net worth increase level.
No, I still do not have $5M, not even as net worth if I include my 2 homes.
I'm shocked that, so far, 35% DO have $5MM+ in investable assets. I think of this as a board of people who dislike work and want to leave as soon as possible. If that's the case why would anyone work long enough to amass even $2MM? I will never reach $1MM and that's fine by me.
... meaning you'd rather spend the increase than let it stack up? Nothing wrong with that.+1. I doubt I will get there. I tend to gear my spending a little below my net worth increase level.
+1I don't agree that this is a board of people that dislike work. I think it is a board of people who actually like work, worked very hard and reached FI at a variety of ages. In my case I liked my work for years....then I didn't and that's when I FIRE'd.
I think of this as a board of people who for various reasons want to (or were forced to) retire early, and discuss issues related to this. Some want to retire as early as possible, and some will continue to work until they can live in more luxury or with a huge buffer.I'm shocked that, so far, 35% DO have $5MM+ in investable assets. I think of this as a board of people who dislike work and want to leave as soon as possible. If that's the case why would anyone work long enough to amass even $2MM? I will never reach $1MM and that's fine by me.
Why? A higher number of people than you expected above $5M? That doesn't change your situation.I think I will have a sleepless night.
There are also many people here who want to be FI. And once you are FI, you may decide to RE. FI should be first!I think of this as a board of people who for various reasons want to (or were forced to) retire early, and discuss issues related to this...
I don't agree that this is a board of people that dislike work. I think it is a board of people who actually like work, worked very hard and reached FI at a variety of ages. In my case I liked my work for years....then I didn't and that's when I FIRE'd.
Sorry, you're on your own.Originally Posted by ERD50 View Post
Holy Cow! If my 401K isn't an 'investable asset', I'm screwed! ...
"Investable assets" seems to be a term used by the financial industry to describe an investor's assets that a financial advisor can take under management immediately. ...
Well, some of us do. But the finance industry didn't invent the term. It's pretty simple, your Ferrari Dino is you hope a chick magnet, but ordinarily it is not an invested asset. Your stocks and bonds and mutual funds and ETFs and commodity deposits and rental real estate and IMO that well chosen industrial lot you are holding are all invested assets. Speculative real estate is not less an investment asset than a stock that pays no dividend. In both cases, the only value is what you hope to realize at some future date.We really get in trouble with definitions around here, don't we? Especially with polls.
-ERD50
"Investable assets" seems to be a term used by the financial industry to describe an investor's assets that a financial advisor can take under management immediately. Therefore IRAs are investable assets but not 401Ks or real estate as they can't make a commission off of those assets.
For those who have $5+ million in investible assets, I would love to see a poll showing the breakdown of the sources of their wealth. I can think of some legitimate categories:
-Inheritance
-Lottery
-Salary or bonus from employment (senior mgmt, sales)
-Sale of business/dividend from one's own business
-Stock options/IPO
-Divorce settlement
-Judgment from a lawsuit
-Others?
I think that in general, it is virtually impossible for an average Joe to accumulate this kind of wealth without some combinations of the above.
luckydude
If I let it reach $5 Million, I have failed.
+1 I respect the people who have accumulated more, but enough is enough. I want to try a volunteer gig for a while.
I'm shocked that, so far, 35% DO have $5MM+ in investable assets.
For those who have $5+ million in investible assets, I would love to see a poll showing the breakdown of the sources of their wealth. I can think of some legitimate categories:
-Inheritance
-Lottery
-Salary or bonus from employment (senior mgmt, sales)
-Sale of business/dividend from one's own business
-Stock options/IPO
-Divorce settlement
-Judgment from a lawsuit
-Others?
I think that in general, it is virtually impossible for an average Joe to accumulate this kind of wealth without some combinations of the above.
luckydude