Net worth over $20 million

[Anonymous]

Anonymous wrote:There is no way that number is accurate. My modest retirement number is 20M in today’s dollars.

Agree.

My retired aunt and uncle with no kids and middle mgmt careers for 40 years have $10M just from saving and the long bull market. And living within their means, and Mexico half the year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:20M is not rich. Using a 3% withdrawal rate you will have an inflation adjusted 600k per year to spend in retirement. That is a comfortable upper middle class lifestyle at best. People vastly underestimate taxes, the cost of healthcare, and the cost of home maintenance.

The 3% withdrawal rate is for people that need to draw down their principal.

You can earn a reasonably safe 4%-5% return…so $800k-$1MM…and you never touch the principal (and in fact probably keep adding to it).

My goal is to live off the interest of my interest.

[Anonymous]

Anonymous wrote:

Anonymous wrote:20M is not rich. Using a 3% withdrawal rate you will have an inflation adjusted 600k per year to spend in retirement. That is a comfortable upper middle class lifestyle at best. People vastly underestimate taxes, the cost of healthcare, and the cost of home maintenance.

The 3% withdrawal rate is for people that need to draw down their principal.

You can earn a reasonably safe 4%-5% return…so $800k-$1MM…and you never touch the principal (and in fact probably keep adding to it).

IRAs and 401k have mandatory annual distributions. FYI. Plan accordingly

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’m clueless as to any of our friends net worth other than knowing they live well but not over the top. Our net worth is well north of the $20 million and while we have two nice homes our spending is far from indulgent. I drive a Subaru SUV. We are retired and we saved and invested well over many years and that was the key. Our focus now is on estate planning for our kids, grandkids and charity. I think there are a lot of people out there like us.

You should have started estate planning years ago.

They are fine and not yet at the $30m death tax threshold.

[Anonymous]

Anonymous wrote:

Anonymous wrote:20M is not rich. Using a 3% withdrawal rate you will have an inflation adjusted 600k per year to spend in retirement. That is a comfortable upper middle class lifestyle at best. People vastly underestimate taxes, the cost of healthcare, and the cost of home maintenance.

There is some MASSIVE overestimation of the cost of healthcare in this thread. My parents are both 80 and their healthcare bills have been relatively minor. And that is with brain surgery, multiple heart attacks and one quad bypass surgery, knee replacements, etc.

Long term care usually doesn't last that long. For most people it is less than a year. Guess what, you're going to die soon once you can't take care of yourself.

Agree.

Plus no one hear seems know how Medicare or Medicare advantage works. It pays for everything.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are retired and our net worth is well over $20 million, closer to $100 million than $20. We just recently finished our taxes and our dividends alone were over $900k and capital gains $1.4 million. We live very comfortably but certainly not an ultra high net worth lifestyle. No big boat, PJ or fancy cars. We are simply not wired to live that way. Much of our net worth is assigned to trusts for our children and our grandchildren and charitable trusts. The family trusts are not set up to let someone be a trust fund baby. I'm sure a lot of people would say we are crazy not to spend more (fly private!) but what we do works well for us. We also have the luxury of knowing that if we did need to fly private it would not be a problem.

Sure.

There are plenty of us just like that. We are approx $40M already, but have the strong potential for another $30-80M in the next 3-5 years (95%+ chance). Our numbers are similar, but a bit less in cap gains, as we already have 2 homes worth $6M total, so that is included in our $40M. We have nice cars, but "still reasonable" (think BMW under $80-100K, not $250K sports cars). Given the area we live in, even our homes are not what makes us seem UHNW (VHCOLA). Most is being gifted currently to our kids (and once they have them, spouses and grandkids) to spend down the estate and benefit them the most now. They also have trusts, but are not "trust fund babies". They have to work/contribute to society to access it. It's there to supplement their lives, not "create their life".
Have yet to fly private, see no need. But moved to flying business/first 98% of the time as why not be comfortable when traveling (and yes if it's a shorter flight and prices are "too much" we fly comfort +/economy plus---we don't pay $800+ for an upgrade to first domestically for a 2-3 hour flight, simply not worth it. Have never flown private, but hope to just once in our lifetime.

B u l l s h i t.

That poster said they have a $100 million net worth. There are fewer than 11,000 household with that amount in the entire country -- .003 percent of the households in this country. If they really have that much money and are spending their time boasting about it on -- hell, if they're even ON -- this silly little website they are the definition of pathetic.

Saying it anonymously doesn't make it true. Either for them, or for you.

Idk… I met a CEO after their company IPO’d and they were bragging about their billionaire NW to me, a nobody. I tend to think the people who make $100M+ tend to be pretty crass / trashy so yeah I’d actually expect a lot of them to be on this site… It’s usually the old $ / 2nd and 3rd gen’s that are more subtle and classy

Of course these people exist. But we are a country of 300 millions people. These people are such a small number that for the vast majority of people they are not even impressed. Yes they are rich, so what?

[Anonymous]

I think it’s such a waste when people are super rich but don’t have any fun hobbies or don’t even love collecting art or building houses or something.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are retired and our net worth is well over $20 million, closer to $100 million than $20. We just recently finished our taxes and our dividends alone were over $900k and capital gains $1.4 million. We live very comfortably but certainly not an ultra high net worth lifestyle. No big boat, PJ or fancy cars. We are simply not wired to live that way. Much of our net worth is assigned to trusts for our children and our grandchildren and charitable trusts. The family trusts are not set up to let someone be a trust fund baby. I'm sure a lot of people would say we are crazy not to spend more (fly private!) but what we do works well for us. We also have the luxury of knowing that if we did need to fly private it would not be a problem.

Sure.

There are plenty of us just like that. We are approx $40M already, but have the strong potential for another $30-80M in the next 3-5 years (95%+ chance). Our numbers are similar, but a bit less in cap gains, as we already have 2 homes worth $6M total, so that is included in our $40M. We have nice cars, but "still reasonable" (think BMW under $80-100K, not $250K sports cars). Given the area we live in, even our homes are not what makes us seem UHNW (VHCOLA). Most is being gifted currently to our kids (and once they have them, spouses and grandkids) to spend down the estate and benefit them the most now. They also have trusts, but are not "trust fund babies". They have to work/contribute to society to access it. It's there to supplement their lives, not "create their life".
Have yet to fly private, see no need. But moved to flying business/first 98% of the time as why not be comfortable when traveling (and yes if it's a shorter flight and prices are "too much" we fly comfort +/economy plus---we don't pay $800+ for an upgrade to first domestically for a 2-3 hour flight, simply not worth it. Have never flown private, but hope to just once in our lifetime.

B u l l s h i t.

That poster said they have a $100 million net worth. There are fewer than 11,000 household with that amount in the entire country -- .003 percent of the households in this country. If they really have that much money and are spending their time boasting about it on -- hell, if they're even ON -- this silly little website they are the definition of pathetic.

Saying it anonymously doesn't make it true. Either for them, or for you.

Uh, I don't have $100m. "Only" $20m in my 30s and I check this forum every few days. Life is kind of boring when the money is easy. Sorry things are harder for you.

+1. The BULLSHIT poster is just a boring, jealous person. Plenty of us have been checking this forum weekly since before we were "rich". Hence why we still check. We didn't change the way we are just because we are worth more.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:20M is not rich. Using a 3% withdrawal rate you will have an inflation adjusted 600k per year to spend in retirement. That is a comfortable upper middle class lifestyle at best. People vastly underestimate taxes, the cost of healthcare, and the cost of home maintenance.

There is some MASSIVE overestimation of the cost of healthcare in this thread. My parents are both 80 and their healthcare bills have been relatively minor. And that is with brain surgery, multiple heart attacks and one quad bypass surgery, knee replacements, etc.

Long term care usually doesn't last that long. For most people it is less than a year. Guess what, you're going to die soon once you can't take care of yourself.

Agree.

Plus no one hear seems know how Medicare or Medicare advantage works. It pays for everything.

And for those of us with interest/income/dividends in retirement, we will pay a decent amount for all of it. Also, until we hit 65 (or whatever the age is at that time) we will pay $2.5-3K/month for high deductible healthcare from 50-65. It's not free unless you are low income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are retired and our net worth is well over $20 million, closer to $100 million than $20. We just recently finished our taxes and our dividends alone were over $900k and capital gains $1.4 million. We live very comfortably but certainly not an ultra high net worth lifestyle. No big boat, PJ or fancy cars. We are simply not wired to live that way. Much of our net worth is assigned to trusts for our children and our grandchildren and charitable trusts. The family trusts are not set up to let someone be a trust fund baby. I'm sure a lot of people would say we are crazy not to spend more (fly private!) but what we do works well for us. We also have the luxury of knowing that if we did need to fly private it would not be a problem.

Sure.

There are plenty of us just like that. We are approx $40M already, but have the strong potential for another $30-80M in the next 3-5 years (95%+ chance). Our numbers are similar, but a bit less in cap gains, as we already have 2 homes worth $6M total, so that is included in our $40M. We have nice cars, but "still reasonable" (think BMW under $80-100K, not $250K sports cars). Given the area we live in, even our homes are not what makes us seem UHNW (VHCOLA). Most is being gifted currently to our kids (and once they have them, spouses and grandkids) to spend down the estate and benefit them the most now. They also have trusts, but are not "trust fund babies". They have to work/contribute to society to access it. It's there to supplement their lives, not "create their life".
Have yet to fly private, see no need. But moved to flying business/first 98% of the time as why not be comfortable when traveling (and yes if it's a shorter flight and prices are "too much" we fly comfort +/economy plus---we don't pay $800+ for an upgrade to first domestically for a 2-3 hour flight, simply not worth it. Have never flown private, but hope to just once in our lifetime.

B u l l s h i t.

That poster said they have a $100 million net worth. There are fewer than 11,000 household with that amount in the entire country -- .003 percent of the households in this country. If they really have that much money and are spending their time boasting about it on -- hell, if they're even ON -- this silly little website they are the definition of pathetic.

Saying it anonymously doesn't make it true. Either for them, or for you.

Uh, I don't have $100m. "Only" $20m in my 30s and I check this forum every few days. Life is kind of boring when the money is easy. Sorry things are harder for you.

+1. The BULLSHIT poster is just a boring, jealous person. Plenty of us have been checking this forum weekly since before we were "rich". Hence why we still check. We didn't change the way we are just because we are worth more.

Nice try. You ain’t worth $100 million.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are retired and our net worth is well over $20 million, closer to $100 million than $20. We just recently finished our taxes and our dividends alone were over $900k and capital gains $1.4 million. We live very comfortably but certainly not an ultra high net worth lifestyle. No big boat, PJ or fancy cars. We are simply not wired to live that way. Much of our net worth is assigned to trusts for our children and our grandchildren and charitable trusts. The family trusts are not set up to let someone be a trust fund baby. I'm sure a lot of people would say we are crazy not to spend more (fly private!) but what we do works well for us. We also have the luxury of knowing that if we did need to fly private it would not be a problem.

Sure.

There are plenty of us just like that. We are approx $40M already, but have the strong potential for another $30-80M in the next 3-5 years (95%+ chance). Our numbers are similar, but a bit less in cap gains, as we already have 2 homes worth $6M total, so that is included in our $40M. We have nice cars, but "still reasonable" (think BMW under $80-100K, not $250K sports cars). Given the area we live in, even our homes are not what makes us seem UHNW (VHCOLA). Most is being gifted currently to our kids (and once they have them, spouses and grandkids) to spend down the estate and benefit them the most now. They also have trusts, but are not "trust fund babies". They have to work/contribute to society to access it. It's there to supplement their lives, not "create their life".
Have yet to fly private, see no need. But moved to flying business/first 98% of the time as why not be comfortable when traveling (and yes if it's a shorter flight and prices are "too much" we fly comfort +/economy plus---we don't pay $800+ for an upgrade to first domestically for a 2-3 hour flight, simply not worth it. Have never flown private, but hope to just once in our lifetime.

B u l l s h i t.

That poster said they have a $100 million net worth. There are fewer than 11,000 household with that amount in the entire country -- .003 percent of the households in this country. If they really have that much money and are spending their time boasting about it on -- hell, if they're even ON -- this silly little website they are the definition of pathetic.

Saying it anonymously doesn't make it true. Either for them, or for you.

Uh, I don't have $100m. "Only" $20m in my 30s and I check this forum every few days. Life is kind of boring when the money is easy. Sorry things are harder for you.

+1. The BULLSHIT poster is just a boring, jealous person. Plenty of us have been checking this forum weekly since before we were "rich". Hence why we still check. We didn't change the way we are just because we are worth more.

Nice try. You ain’t worth $100 million.

We are worth over $40M currently, and will likely hit the $100M mark in 3-5 years. But you go ahead and continue arguing with strangers on the internet about their Net worth.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are retired and our net worth is well over $20 million, closer to $100 million than $20. We just recently finished our taxes and our dividends alone were over $900k and capital gains $1.4 million. We live very comfortably but certainly not an ultra high net worth lifestyle. No big boat, PJ or fancy cars. We are simply not wired to live that way. Much of our net worth is assigned to trusts for our children and our grandchildren and charitable trusts. The family trusts are not set up to let someone be a trust fund baby. I'm sure a lot of people would say we are crazy not to spend more (fly private!) but what we do works well for us. We also have the luxury of knowing that if we did need to fly private it would not be a problem.

Sure.

There are plenty of us just like that. We are approx $40M already, but have the strong potential for another $30-80M in the next 3-5 years (95%+ chance). Our numbers are similar, but a bit less in cap gains, as we already have 2 homes worth $6M total, so that is included in our $40M. We have nice cars, but "still reasonable" (think BMW under $80-100K, not $250K sports cars). Given the area we live in, even our homes are not what makes us seem UHNW (VHCOLA). Most is being gifted currently to our kids (and once they have them, spouses and grandkids) to spend down the estate and benefit them the most now. They also have trusts, but are not "trust fund babies". They have to work/contribute to society to access it. It's there to supplement their lives, not "create their life".
Have yet to fly private, see no need. But moved to flying business/first 98% of the time as why not be comfortable when traveling (and yes if it's a shorter flight and prices are "too much" we fly comfort +/economy plus---we don't pay $800+ for an upgrade to first domestically for a 2-3 hour flight, simply not worth it. Have never flown private, but hope to just once in our lifetime.

B u l l s h i t.

That poster said they have a $100 million net worth. There are fewer than 11,000 household with that amount in the entire country -- .003 percent of the households in this country. If they really have that much money and are spending their time boasting about it on -- hell, if they're even ON -- this silly little website they are the definition of pathetic.

Saying it anonymously doesn't make it true. Either for them, or for you.

Uh, I don't have $100m. "Only" $20m in my 30s and I check this forum every few days. Life is kind of boring when the money is easy. Sorry things are harder for you.

+1. The BULLSHIT poster is just a boring, jealous person. Plenty of us have been checking this forum weekly since before we were "rich". Hence why we still check. We didn't change the way we are just because we are worth more.

Nice try. You ain’t worth $100 million.

They’re definitely worth $20M. They are speaking like a true paper money NW’er. Bet it’s all in pre IPO options or founder equity/ownership using a sky high 409A valuation. These people always fall flat on their faces except for a few who actually see liquidation opps.

[Anonymous]

I just read the whole thread and am really not sure what to believe. Sure, there's clearly no shortage of rich households. Do I really believe someone with 30M is happily living in their starter home and posting on DCUM? Ehh... even the self made families tend to move on to nicer houses where they can entertain their large clans, after all, what is the point of the money?

And agree people wildly overestimate the costs of elder care. My father has Parkinsons and suffered from a major fall requiring serious spinal injury with months in recovery and every penny was covered by insurance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:20M is not rich. Using a 3% withdrawal rate you will have an inflation adjusted 600k per year to spend in retirement. That is a comfortable upper middle class lifestyle at best. People vastly underestimate taxes, the cost of healthcare, and the cost of home maintenance.

There is some MASSIVE overestimation of the cost of healthcare in this thread. My parents are both 80 and their healthcare bills have been relatively minor. And that is with brain surgery, multiple heart attacks and one quad bypass surgery, knee replacements, etc.

Long term care usually doesn't last that long. For most people it is less than a year. Guess what, you're going to die soon once you can't take care of yourself.

Agree.

Plus no one hear seems know how Medicare or Medicare advantage works. It pays for everything.

And for those of us with interest/income/dividends in retirement, we will pay a decent amount for all of it. Also, until we hit 65 (or whatever the age is at that time) we will pay $2.5-3K/month for high deductible healthcare from 50-65. It's not free unless you are low income.

Is that insurance for two people via your employer or are you retired and pay in the open market? Or do cash pay only prices?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are retired and our net worth is well over $20 million, closer to $100 million than $20. We just recently finished our taxes and our dividends alone were over $900k and capital gains $1.4 million. We live very comfortably but certainly not an ultra high net worth lifestyle. No big boat, PJ or fancy cars. We are simply not wired to live that way. Much of our net worth is assigned to trusts for our children and our grandchildren and charitable trusts. The family trusts are not set up to let someone be a trust fund baby. I'm sure a lot of people would say we are crazy not to spend more (fly private!) but what we do works well for us. We also have the luxury of knowing that if we did need to fly private it would not be a problem.

Sure.

There are plenty of us just like that. We are approx $40M already, but have the strong potential for another $30-80M in the next 3-5 years (95%+ chance). Our numbers are similar, but a bit less in cap gains, as we already have 2 homes worth $6M total, so that is included in our $40M. We have nice cars, but "still reasonable" (think BMW under $80-100K, not $250K sports cars). Given the area we live in, even our homes are not what makes us seem UHNW (VHCOLA). Most is being gifted currently to our kids (and once they have them, spouses and grandkids) to spend down the estate and benefit them the most now. They also have trusts, but are not "trust fund babies". They have to work/contribute to society to access it. It's there to supplement their lives, not "create their life".
Have yet to fly private, see no need. But moved to flying business/first 98% of the time as why not be comfortable when traveling (and yes if it's a shorter flight and prices are "too much" we fly comfort +/economy plus---we don't pay $800+ for an upgrade to first domestically for a 2-3 hour flight, simply not worth it. Have never flown private, but hope to just once in our lifetime.

B u l l s h i t.

That poster said they have a $100 million net worth. There are fewer than 11,000 household with that amount in the entire country -- .003 percent of the households in this country. If they really have that much money and are spending their time boasting about it on -- hell, if they're even ON -- this silly little website they are the definition of pathetic.

Saying it anonymously doesn't make it true. Either for them, or for you.

Uh, I don't have $100m. "Only" $20m in my 30s and I check this forum every few days. Life is kind of boring when the money is easy. Sorry things are harder for you.

+1. The BULLSHIT poster is just a boring, jealous person. Plenty of us have been checking this forum weekly since before we were "rich". Hence why we still check. We didn't change the way we are just because we are worth more.

Nice try. You ain’t worth $100 million.

They’re definitely worth $20M. They are speaking like a true paper money NW’er. Bet it’s all in pre IPO options or founder equity/ownership using a sky high 409A valuation. These people always fall flat on their faces except for a few who actually see liquidation opps.

Small business profits from covid-era businesses. We were just smart enough to know it was luck and not skill. Raked in the cash and put it into index funds, where it'll sit and grow. 95% luck and 5% skill.