Are you Rich?
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Anonymous
| What’s your HHI and profession? What’s your net worth? How much did your house cost? |
Anonymous
| That's quite a collection of info you're phishing for. I suppose it's optionally anonymous but this data is not especially useful or informative. |
Anonymous
Why do you ask? |
Anonymous
| I consider myself rich but many on DCUM would disagree. |
Anonymous
1. no 2. 90k legal secretary 3. 200k 4. what house? I don't own a house. I have rent control and even with that I'll be priced out in about six years. |
Anonymous
Yes Retired as of January, last year’s HHI was around $250k. ~$6M Just sold house for $1.4m, bought it for $290k in 1997 and put in $400k in renovations. Bought retirement house for $800k. HHI was $110k when we bought in 1997. |
Anonymous
Me too. I'm not even giving numbers as I already know what DCUM wrote last time. There are some cool things going for me, however. Some of cannot be put into money. I guess they are called intangibles assets. Here are few examples: I don't have tax expense to speak, commuting expense, wardrobe expense, or food expense on certain days. I don't need to work for money. I work very part time for now as it add something to my life. I do have 'annuity' that goes up with COLA. I'm in great health and should live another 50 years easily. Most things people pay for are free (childcare) or cheap to me. I don't collect bills or subscriptions as I'm not a big consumer. I have several investment account/Roths that have done very well and should continue because of the investments in it. I have skills few people have. My reading/writing are bad, but my math skills are awesome. I will never be out of a job. There is some inheritance sitting somewhere already, but since I don't need it, I really don't care where it is. There's some more inheritance from abroad, but has more sentimental value. It has great value when I move there and live well on $2k a month only. The reason I'm not DCUM rich yet is that some of it is all fairly new, specially the skill. Never knew I had it. It tops even inheritance. I don't really feel like dealing with the paperwork and courts. Lets see if they even look for me. The money is simply growing faster than I can spend. Not feeling the need to spend is very liberating. I wasn't always like that. I do not hold back spending money when traveling, being with family and friends, or eating out. Having my time back, healthy family are the ultimate riches. I just don't have any expenses beside housing. |
Anonymous
Couple HHI: $200k Net worth: $1.4 million House cost: $550k in 2008 Yes, we are rich. |
Anonymous
| You first, OP. |
Anonymous
|
I do not think i am, but people who have less money than me think I am. And people who have more money than me don't think I"m rich. But mostly no one thinks about me at all.
HHI 350k / lawyer NW 5M House: 1.2M |
Anonymous
| I consider myself rich because I own my house and can pay my bills every month without stressing. |
Anonymous
+1 rich is a relative term. We have a net worth of I think like $4.5mil, including our house with an equity of $900K. But, my spouse is 60 and was forced to retire due to ageism. My income is $170K. I have one kid in college and another about to start. We've had private insurance before, and I know that it is super expensive, especially as you get older. So, while to many we look rich, I don't feel rich because I could also lose my job at any moment, and if that happens, we would have to buy private health insurance for the four of us. And of course, we still have to (want to) pay for college. We won't hurt for money, for sure, but it won't be a rich lifestyle. We don't eat out much, and if we do, it's not to some place expensive. We don't buy name brand things, and we drive normal cars. Our only splurge is international vacations every other year. We do feel fortunate (I grew up with nothing), but not "rich". |
Anonymous
|
I’m a former Biglaw partner who retired early a decade ago in my early 50s, haven’t done any kind of work since, and I consider myself rich even though I’d be three times richer had I continued working.
We currently have a net worth of just over $8 million. $2 million of that is real estate equity in our primary residence and second home. We still have a mortgage on our primary residence because the mortgage rate is ridiculous (under 2 percent). The remaining $6 million plus is a little over on million in a brokerage account and the rest in retirement accounts. I elected to take social security early and between that another small source of income we bring in about $75k a year. We’re living quite well as a result while drawing down substantially less from our accounts than most experts recommend as the maximum, so our net work has been increasing each year. I am definitely not rich by Biglaw standards or DCUM standards but it sure is nice not having to even think about what day of the week it is most mornings. |
Anonymous
|
What’s your HHI and profession? — $435k, lawyer.
What’s your net worth? — $3.85mm. How much did your house cost? — $1.4mm in 2020 |
Anonymous
|
HHI - 400k (two fed lawyers)
NW - 5 million not including TSP or home equity of around 2 million House cost 1.2 million and we put about 500k into it, now paid off. |