What is your age and net worth?

[Anonymous]

42/43, $4.5M

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Ok, so what do I need to invest in to get rich? PP with $50 million, how did you start investing? I am from Eastern Europe and really dumb about these things.

Polish?

No, more south. Don't want to give myself away. DH and I did invest.... in 2001 or 2002, a day before it crashed! I told dh not to rush, and he was let's do it or we never will. Even the banker was no rush, but dh was dead set on doing it that day(he is American, lower MC raised, his dad never saved a penny other than his Post Office retirement that is pretty good). I was maybe "better off" raised as much as that is an oxymoron in communist regime. We earn good money but are too scared to invest. Is there a bank or such that people can recommend that has a good track? For regular UMC fed workers, not for millionaires.

The fact that you are still acting as if your DH made this huge mistake investing on a particular day is your first problem. Had you invested in an index fund that mirrored the stock market and just left it alone until now you’d have made a lot of money. I’m sure you panicked and sold. What you should be panicking about is what inflation is doing to your portfolio. To educate yourself, I’d recommend reading the bogleheads information. But unfortunately the main thing is not selling when the market goes down, like last year. Also, it is strange you are asking the 50m poster vs the folks with 1-2m. You don’t sound like you have the first million saved and would have no where near the risk tolerance of someone with 50m. We have about 2m and don’t!

[Anonymous]

34, immigrated from Eastern Europe, now stay at home mom with three kids, net worth is about 1 m.

[Anonymous]

I hope people reading this realize this isn’t the norm by any means. Most people don’t have anywhere close to 1mil in their 30’s.

[Anonymous]

Anonymous wrote:I hope people reading this realize this isn’t the norm by any means. Most people don’t have anywhere close to 1mil in their 30’s.

Yeah but most people don’t believe anonymous forum either. But it’s fun. Many posters from st. Elizabeth hospital

[Anonymous]

Anonymous wrote:

Anonymous wrote:I hope people reading this realize this isn’t the norm by any means. Most people don’t have anywhere close to 1mil in their 30’s.

Yeah but most people don’t believe anonymous forum either. But it’s fun. Many posters from st. Elizabeth hospital

what does that mean?

[Anonymous]

49/46

Total Investments (taxable and deferred): $3.55
House: worth $1.3, mortgage 330K
12 years of federal pension

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I hope people reading this realize this isn’t the norm by any means. Most people don’t have anywhere close to 1mil in their 30’s.

Yeah but most people don’t believe anonymous forum either. But it’s fun. Many posters from st. Elizabeth hospital

what does that mean?

Mental hospital

[Anonymous]

33/35 about $1.5

[Anonymous]

35 & 36 $2.8M

[Anonymous]

Everybody is a millionaire in the DMV.

[Anonymous]

We are 49 and 54. Our net worth is pretty high-I’d say about 10mm+ which includes about $3 million in liquid or easily convertible funds. I know this will sound strange but I don’t feel a can just relax and enjoy because the only reason we have that money is because our parents left us so much. We have no mortgage because we inherited enough to pay of off on our $2m home. We have 3 others we bought as investments that we have also paid off.
BUT we feel strongly that we should pass on what we inherited plus what we have added during our lifetimes to our children to give them the security we have enjoyed just knowing we have financial safety. We do not live a wealthy lifestyle at all except that are paying for private schools for our kid’s and we will pay for college through to masters. Our HHI is $450k so we don’t really have to touch inheritance to live day by day.
We don’t spend money on 80% of what our friends spend money on -new cars every 3 years (we buy used and drive until dead) several holidays a year (we take one) l, upgrading furniture (never unless damaged) and plan to live on our pensions which will be more than enough since I work for an international organization on a decent salary and have a fully funded pension that will last until i die plus medical insurance.
We can have a pretty good though not extravagant life on that and leave what we have inherited plus what we added to that during our lives to our children.

I still only shop in sales, look around for bargains and discounts. I’ve learned how to dress as well as my contemporaries on a fraction of what they spend. They always ask where I bought this lovely outfit or that-usually consignment or eBay or Poshmark. I don’t think I could live without thinking about what I’m spending. I just don’t know how to do that.

[Anonymous]

Anonymous wrote:We are 49 and 54. Our net worth is pretty high-I’d say about 10mm+ which includes about $3 million in liquid or easily convertible funds. I know this will sound strange but I don’t feel a can just relax and enjoy because the only reason we have that money is because our parents left us so much. We have no mortgage because we inherited enough to pay of off on our $2m home. We have 3 others we bought as investments that we have also paid off.
BUT we feel strongly that we should pass on what we inherited plus what we have added during our lifetimes to our children to give them the security we have enjoyed just knowing we have financial safety. We do not live a wealthy lifestyle at all except that are paying for private schools for our kid’s and we will pay for college through to masters. Our HHI is $450k so we don’t really have to touch inheritance to live day by day.
We don’t spend money on 80% of what our friends spend money on -new cars every 3 years (we buy used and drive until dead) several holidays a year (we take one) l, upgrading furniture (never unless damaged) and plan to live on our pensions which will be more than enough since I work for an international organization on a decent salary and have a fully funded pension that will last until i die plus medical insurance.
We can have a pretty good though not extravagant life on that and leave what we have inherited plus what we added to that during our lives to our children.

I still only shop in sales, look around for bargains and discounts. I’ve learned how to dress as well as my contemporaries on a fraction of what they spend. They always ask where I bought this lovely outfit or that-usually consignment or eBay or Poshmark. I don’t think I could live without thinking about what I’m spending. I just don’t know how to do that.

I feel sorry for you

[Anonymous]

Anonymous wrote:We are 49 and 54. Our net worth is pretty high-I’d say about 10mm+ which includes about $3 million in liquid or easily convertible funds. I know this will sound strange but I don’t feel a can just relax and enjoy because the only reason we have that money is because our parents left us so much. We have no mortgage because we inherited enough to pay of off on our $2m home. We have 3 others we bought as investments that we have also paid off.
BUT we feel strongly that we should pass on what we inherited plus what we have added during our lifetimes to our children to give them the security we have enjoyed just knowing we have financial safety. We do not live a wealthy lifestyle at all except that are paying for private schools for our kid’s and we will pay for college through to masters. Our HHI is $450k so we don’t really have to touch inheritance to live day by day.
We don’t spend money on 80% of what our friends spend money on -new cars every 3 years (we buy used and drive until dead) several holidays a year (we take one) l, upgrading furniture (never unless damaged) and plan to live on our pensions which will be more than enough since I work for an international organization on a decent salary and have a fully funded pension that will last until i die plus medical insurance.
We can have a pretty good though not extravagant life on that and leave what we have inherited plus what we added to that during our lives to our children.

I still only shop in sales, look around for bargains and discounts. I’ve learned how to dress as well as my contemporaries on a fraction of what they spend. They always ask where I bought this lovely outfit or that-usually consignment or eBay or Poshmark. I don’t think I could live without thinking about what I’m spending. I just don’t know how to do that.

You’re obsessed with money. Money money money. It’s all about the money for you.

[Anonymous]

Anonymous wrote:We are 49 and 54. Our net worth is pretty high-I’d say about 10mm+ which includes about $3 million in liquid or easily convertible funds. I know this will sound strange but I don’t feel a can just relax and enjoy because the only reason we have that money is because our parents left us so much. We have no mortgage because we inherited enough to pay of off on our $2m home. We have 3 others we bought as investments that we have also paid off.
BUT we feel strongly that we should pass on what we inherited plus what we have added during our lifetimes to our children to give them the security we have enjoyed just knowing we have financial safety. We do not live a wealthy lifestyle at all except that are paying for private schools for our kid’s and we will pay for college through to masters. Our HHI is $450k so we don’t really have to touch inheritance to live day by day.
We don’t spend money on 80% of what our friends spend money on -new cars every 3 years (we buy used and drive until dead) several holidays a year (we take one) l, upgrading furniture (never unless damaged) and plan to live on our pensions which will be more than enough since I work for an international organization on a decent salary and have a fully funded pension that will last until i die plus medical insurance.
We can have a pretty good though not extravagant life on that and leave what we have inherited plus what we added to that during our lives to our children.

I still only shop in sales, look around for bargains and discounts. I’ve learned how to dress as well as my contemporaries on a fraction of what they spend. They always ask where I bought this lovely outfit or that-usually consignment or eBay or Poshmark. I don’t think I could live without thinking about what I’m spending. I just don’t know how to do that.

I mean this kindly, PP, but it sounds like a good use of some of that money would be a therapist. You seem to have some pretty deep issues about money.