People with $5M+ NW, why do you still choose to work?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I quit my teaching job when we hit $5m. I just couldn't put in another 5 years. We pay out of pocket for insurance for 3, while my DH is on Medicare.

Your DH is old enough for medicare and you still have TWO kids on your health insurance?? Wow.

Can't kids be on health insurance until 26 or something? When can you get Medicare? 62? 65? It doesn't seem that bad to me.

65. And yes, 26. So youngest age is 39 to become that parent.

It's not too bad for a man, but is a pretty bad idea for a woman.

whatever. i had my kid at 47. it's fine. happier to have had them late than not at all. we're only at $3M liquid net, so will probably work for another decade or so.

Except having a kid at age 47 means a significantly higher chance of health issues for the kid. Anything over 35 means an increased risk, but over 40 is much higher. So yeah, it's not really the best idea to have a kid at 40+

Can you imagine saying this to someone in real life? That they shouldn’t have had their already-born children so late?

I have said something similar to friends in real life. A good friend was trying for her first in her 40s. We talked about how difficult it would be to raise that child and how not getting pregnant may be a blessing. She did get pregnant and baby and she are healthy. And she is also aware of the potential struggles that younger moms dont face. Her parents were older and both passed when she was in college, so its surprising to me that she made this choice knowing she will likely die before they reach full adult age.

You see posts on here all the time about women who are exhausted, suffering health issues, having marital problems, having life problems and then it comes out that they are 49 and have a 3 year old and its like, well yeah, duh. Your life stage is not compatible to being a mother of young kids. With lots of money you can alleviate the struggle. But it should be discussed and explained. Women in their 40s should generally not be encouraged to give birth.

I know this is off topic, sorry OP!

You sound jealous.

Where did you read jealousy? I'm PP and had my last child at age 30. I am now close to retirement and empty nest at nearing 50. Live is great. I feel bad for women who didnt have children younger.

+1

Everyone gets to choose, but then you must live with the consequences of your choices. Having at kid at45 means you are 67 when they graduate college. If you live to see grandkids, you might not be able to actually do much physically with them.

But being in your early 50s and kids out of college is awesome.

Except to quote my old financial advisor you can’t be 30 when you are 60. I had a midlife crisis at 29. Got a Mercedes convertible AND a Jeep convertible! Rented summer house in Hamptons, got apt in Manhattan, went skiing in Aspen, spring break in Palm Beach, dated models, actresses. Hung out celebs. Dated several girls at once. Went out to clubs 4-5 nights a week, in fact my friend laughed when he he met Howard Stern by accident and he called me his rich friend, snoop dog called me his rich white boy friend. Guess what I was bleeding money! Apparantly being friends celebs and dating super models expense

What if morale of story? Well got married had kids gave up that lifestyle 30 years ago and now worth 10 million, love in paid off 2 million dollar home, have paid off beach condo, but it is meaningless. You really can’t be 30 when you are 60. I look dumb,

No more pulling up in my white Linen paints, and designer silk shirt with a Cosmo model top down my Mercedes convertible 4th of July week in southampton to a hot club. Skipping last me and cover and parking right in front lawn as hey thats what I do. While Tara Banks and friends just look and go WTF. I recall dating briefly a trader on Wall Street and she was shocked at my lifestyle. I made 45k a year!! But Apparantly getting into car crash with a rich guy and a good lawyer put me back on top.

Now that I am pretty rich for real someone who went out 3,000 to 5,000 times, traveled all over, I lost the feel of it by 35. I feel sad folks trying to be young when old,

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I quit my teaching job when we hit $5m. I just couldn't put in another 5 years. We pay out of pocket for insurance for 3, while my DH is on Medicare.

Your DH is old enough for medicare and you still have TWO kids on your health insurance?? Wow.

Can't kids be on health insurance until 26 or something? When can you get Medicare? 62? 65? It doesn't seem that bad to me.

65. And yes, 26. So youngest age is 39 to become that parent.

It's not too bad for a man, but is a pretty bad idea for a woman.

whatever. i had my kid at 47. it's fine. happier to have had them late than not at all. we're only at $3M liquid net, so will probably work for another decade or so.

Except having a kid at age 47 means a significantly higher chance of health issues for the kid. Anything over 35 means an increased risk, but over 40 is much higher. So yeah, it's not really the best idea to have a kid at 40+

Can you imagine saying this to someone in real life? That they shouldn’t have had their already-born children so late?

I have said something similar to friends in real life. A good friend was trying for her first in her 40s. We talked about how difficult it would be to raise that child and how not getting pregnant may be a blessing. She did get pregnant and baby and she are healthy. And she is also aware of the potential struggles that younger moms dont face. Her parents were older and both passed when she was in college, so its surprising to me that she made this choice knowing she will likely die before they reach full adult age.

You see posts on here all the time about women who are exhausted, suffering health issues, having marital problems, having life problems and then it comes out that they are 49 and have a 3 year old and its like, well yeah, duh. Your life stage is not compatible to being a mother of young kids. With lots of money you can alleviate the struggle. But it should be discussed and explained. Women in their 40s should generally not be encouraged to give birth.

I know this is off topic, sorry OP!

You sound jealous.

Where did you read jealousy? I'm PP and had my last child at age 30. I am now close to retirement and empty nest at nearing 50. Live is great. I feel bad for women who didnt have children younger.

+1

Everyone gets to choose, but then you must live with the consequences of your choices. Having at kid at45 means you are 67 when they graduate college. If you live to see grandkids, you might not be able to actually do much physically with them.

But being in your early 50s and kids out of college is awesome.

Except to quote my old financial advisor you can’t be 30 when you are 60. I had a midlife crisis at 29. Got a Mercedes convertible AND a Jeep convertible! Rented summer house in Hamptons, got apt in Manhattan, went skiing in Aspen, spring break in Palm Beach, dated models, actresses. Hung out celebs. Dated several girls at once. Went out to clubs 4-5 nights a week, in fact my friend laughed when he he met Howard Stern by accident and he called me his rich friend, snoop dog called me his rich white boy friend. Guess what I was bleeding money! Apparantly being friends celebs and dating super models expense

What if morale of story? Well got married had kids gave up that lifestyle 30 years ago and now worth 10 million, love in paid off 2 million dollar home, have paid off beach condo, but it is meaningless. You really can’t be 30 when you are 60. I look dumb,

No more pulling up in my white Linen paints, and designer silk shirt with a Cosmo model top down my Mercedes convertible 4th of July week in southampton to a hot club. Skipping last me and cover and parking right in front lawn as hey thats what I do. While Tara Banks and friends just look and go WTF. I recall dating briefly a trader on Wall Street and she was shocked at my lifestyle. I made 45k a year!! But Apparantly getting into car crash with a rich guy and a good lawyer put me back on top.

Now that I am pretty rich for real someone who went out 3,000 to 5,000 times, traveled all over, I lost the feel of it by 35. I feel sad folks trying to be young when old,

As a woman, from a different angle, I agree with this, but I'd go further back and say that even at 50, it's not the same as at 20-30. I'm telling my kids to enjoy their twenties. You can never get that time back when you are young, carefree, and only responsible for yourself. I'd rather they enjoy their youth in their twenties and enjoy their family in their fifties.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I quit my teaching job when we hit $5m. I just couldn't put in another 5 years. We pay out of pocket for insurance for 3, while my DH is on Medicare.

Your DH is old enough for medicare and you still have TWO kids on your health insurance?? Wow.

Can't kids be on health insurance until 26 or something? When can you get Medicare? 62? 65? It doesn't seem that bad to me.

65. And yes, 26. So youngest age is 39 to become that parent.

It's not too bad for a man, but is a pretty bad idea for a woman.

whatever. i had my kid at 47. it's fine. happier to have had them late than not at all. we're only at $3M liquid net, so will probably work for another decade or so.

Except having a kid at age 47 means a significantly higher chance of health issues for the kid. Anything over 35 means an increased risk, but over 40 is much higher. So yeah, it's not really the best idea to have a kid at 40+

Can you imagine saying this to someone in real life? That they shouldn’t have had their already-born children so late?

I have said something similar to friends in real life. A good friend was trying for her first in her 40s. We talked about how difficult it would be to raise that child and how not getting pregnant may be a blessing. She did get pregnant and baby and she are healthy. And she is also aware of the potential struggles that younger moms dont face. Her parents were older and both passed when she was in college, so its surprising to me that she made this choice knowing she will likely die before they reach full adult age.

You see posts on here all the time about women who are exhausted, suffering health issues, having marital problems, having life problems and then it comes out that they are 49 and have a 3 year old and its like, well yeah, duh. Your life stage is not compatible to being a mother of young kids. With lots of money you can alleviate the struggle. But it should be discussed and explained. Women in their 40s should generally not be encouraged to give birth.

I know this is off topic, sorry OP!

What? You think your friend is likely to die by age 60? I think you don't know any older moms IRL.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I quit my teaching job when we hit $5m. I just couldn't put in another 5 years. We pay out of pocket for insurance for 3, while my DH is on Medicare.

Your DH is old enough for medicare and you still have TWO kids on your health insurance?? Wow.

Can't kids be on health insurance until 26 or something? When can you get Medicare? 62? 65? It doesn't seem that bad to me.

65. And yes, 26. So youngest age is 39 to become that parent.

It's not too bad for a man, but is a pretty bad idea for a woman.

whatever. i had my kid at 47. it's fine. happier to have had them late than not at all. we're only at $3M liquid net, so will probably work for another decade or so.

Except having a kid at age 47 means a significantly higher chance of health issues for the kid. Anything over 35 means an increased risk, but over 40 is much higher. So yeah, it's not really the best idea to have a kid at 40+

Can you imagine saying this to someone in real life? That they shouldn’t have had their already-born children so late?

I have said something similar to friends in real life. A good friend was trying for her first in her 40s. We talked about how difficult it would be to raise that child and how not getting pregnant may be a blessing. She did get pregnant and baby and she are healthy. And she is also aware of the potential struggles that younger moms dont face. Her parents were older and both passed when she was in college, so its surprising to me that she made this choice knowing she will likely die before they reach full adult age.

You see posts on here all the time about women who are exhausted, suffering health issues, having marital problems, having life problems and then it comes out that they are 49 and have a 3 year old and its like, well yeah, duh. Your life stage is not compatible to being a mother of young kids. With lots of money you can alleviate the struggle. But it should be discussed and explained. Women in their 40s should generally not be encouraged to give birth.

I know this is off topic, sorry OP!

You sound jealous.

Where did you read jealousy? I'm PP and had my last child at age 30. I am now close to retirement and empty nest at nearing 50. Live is great. I feel bad for women who didnt have children younger.

+1

Everyone gets to choose, but then you must live with the consequences of your choices. Having at kid at45 means you are 67 when they graduate college. If you live to see grandkids, you might not be able to actually do much physically with them.

But being in your early 50s and kids out of college is awesome.

Except to quote my old financial advisor you can’t be 30 when you are 60. I had a midlife crisis at 29. Got a Mercedes convertible AND a Jeep convertible! Rented summer house in Hamptons, got apt in Manhattan, went skiing in Aspen, spring break in Palm Beach, dated models, actresses. Hung out celebs. Dated several girls at once. Went out to clubs 4-5 nights a week, in fact my friend laughed when he he met Howard Stern by accident and he called me his rich friend, snoop dog called me his rich white boy friend. Guess what I was bleeding money! Apparantly being friends celebs and dating super models expense

What if morale of story? Well got married had kids gave up that lifestyle 30 years ago and now worth 10 million, love in paid off 2 million dollar home, have paid off beach condo, but it is meaningless. You really can’t be 30 when you are 60. I look dumb,

No more pulling up in my white Linen paints, and designer silk shirt with a Cosmo model top down my Mercedes convertible 4th of July week in southampton to a hot club. Skipping last me and cover and parking right in front lawn as hey thats what I do. While Tara Banks and friends just look and go WTF. I recall dating briefly a trader on Wall Street and she was shocked at my lifestyle. I made 45k a year!! But Apparantly getting into car crash with a rich guy and a good lawyer put me back on top.

Now that I am pretty rich for real someone who went out 3,000 to 5,000 times, traveled all over, I lost the feel of it by 35. I feel sad folks trying to be young when old,

You are so full of shit I can smell it from here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I quit my teaching job when we hit $5m. I just couldn't put in another 5 years. We pay out of pocket for insurance for 3, while my DH is on Medicare.

Your DH is old enough for medicare and you still have TWO kids on your health insurance?? Wow.

Can't kids be on health insurance until 26 or something? When can you get Medicare? 62? 65? It doesn't seem that bad to me.

65. And yes, 26. So youngest age is 39 to become that parent.

It's not too bad for a man, but is a pretty bad idea for a woman.

whatever. i had my kid at 47. it's fine. happier to have had them late than not at all. we're only at $3M liquid net, so will probably work for another decade or so.

Except having a kid at age 47 means a significantly higher chance of health issues for the kid. Anything over 35 means an increased risk, but over 40 is much higher. So yeah, it's not really the best idea to have a kid at 40+

Can you imagine saying this to someone in real life? That they shouldn’t have had their already-born children so late?

I have said something similar to friends in real life. A good friend was trying for her first in her 40s. We talked about how difficult it would be to raise that child and how not getting pregnant may be a blessing. She did get pregnant and baby and she are healthy. And she is also aware of the potential struggles that younger moms dont face. Her parents were older and both passed when she was in college, so its surprising to me that she made this choice knowing she will likely die before they reach full adult age.

You see posts on here all the time about women who are exhausted, suffering health issues, having marital problems, having life problems and then it comes out that they are 49 and have a 3 year old and its like, well yeah, duh. Your life stage is not compatible to being a mother of young kids. With lots of money you can alleviate the struggle. But it should be discussed and explained. Women in their 40s should generally not be encouraged to give birth.

I know this is off topic, sorry OP!

You sound jealous.

Where did you read jealousy? I'm PP and had my last child at age 30. I am now close to retirement and empty nest at nearing 50. Live is great. I feel bad for women who didnt have children younger.

+1

Everyone gets to choose, but then you must live with the consequences of your choices. Having at kid at45 means you are 67 when they graduate college. If you live to see grandkids, you might not be able to actually do much physically with them.

But being in your early 50s and kids out of college is awesome.

Except to quote my old financial advisor you can’t be 30 when you are 60. I had a midlife crisis at 29. Got a Mercedes convertible AND a Jeep convertible! Rented summer house in Hamptons, got apt in Manhattan, went skiing in Aspen, spring break in Palm Beach, dated models, actresses. Hung out celebs. Dated several girls at once. Went out to clubs 4-5 nights a week, in fact my friend laughed when he he met Howard Stern by accident and he called me his rich friend, snoop dog called me his rich white boy friend. Guess what I was bleeding money! Apparantly being friends celebs and dating super models expense

What if morale of story? Well got married had kids gave up that lifestyle 30 years ago and now worth 10 million, love in paid off 2 million dollar home, have paid off beach condo, but it is meaningless. You really can’t be 30 when you are 60. I look dumb,

No more pulling up in my white Linen paints, and designer silk shirt with a Cosmo model top down my Mercedes convertible 4th of July week in southampton to a hot club. Skipping last me and cover and parking right in front lawn as hey thats what I do. While Tara Banks and friends just look and go WTF. I recall dating briefly a trader on Wall Street and she was shocked at my lifestyle. I made 45k a year!! But Apparantly getting into car crash with a rich guy and a good lawyer put me back on top.

Now that I am pretty rich for real someone who went out 3,000 to 5,000 times, traveled all over, I lost the feel of it by 35. I feel sad folks trying to be young when old,

As a woman, from a different angle, I agree with this, but I'd go further back and say that even at 50, it's not the same as at 20-30. I'm telling my kids to enjoy their twenties. You can never get that time back when you are young, carefree, and only responsible for yourself. I'd rather they enjoy their youth in their twenties and enjoy their family in their fifties.

Because you need to justify your own choices?

[Anonymous]

Because we live in a VHCOL in CA where a normal <2000 sqft home which may or may not even be in a good school district costs over $2000/sqft so we still live in a condo despite having almost $1M HHI and $10M net worth (a completely normals sized 3+ bedroom house in any neighborhood near our jobs with decent schools would cost $5.5M+). Our families and high paying jobs are here so it's difficult for us to move. While we are doing well if we move anywhere else, we feel like we are barely keeping up here and need to stay working.

[Anonymous]

Just here in DC but we felt compelled to be in the market, and it feels so unstable to rely on the stock market, but we have to because of inflation.

[Anonymous]

Anonymous wrote:“You can’t do anything with 5, Greg. Five is a nightmare.”

🤣 just rich enough to be poor around rich people

[Anonymous]

Anonymous wrote:Because we live in a VHCOL in CA where a normal <2000 sqft home which may or may not even be in a good school district costs over $2000/sqft so we still live in a condo despite having almost $1M HHI and $10M net worth (a completely normals sized 3+ bedroom house in any neighborhood near our jobs with decent schools would cost $5.5M+). Our families and high paying jobs are here so it's difficult for us to move. While we are doing well if we move anywhere else, we feel like we are barely keeping up here and need to stay working.

wait till the AI companies go public. The houses will be 10mm!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I quit my teaching job when we hit $5m. I just couldn't put in another 5 years. We pay out of pocket for insurance for 3, while my DH is on Medicare.

Your DH is old enough for medicare and you still have TWO kids on your health insurance?? Wow.

Can't kids be on health insurance until 26 or something? When can you get Medicare? 62? 65? It doesn't seem that bad to me.

65. And yes, 26. So youngest age is 39 to become that parent.

It's not too bad for a man, but is a pretty bad idea for a woman.

whatever. i had my kid at 47. it's fine. happier to have had them late than not at all. we're only at $3M liquid net, so will probably work for another decade or so.

Except having a kid at age 47 means a significantly higher chance of health issues for the kid. Anything over 35 means an increased risk, but over 40 is much higher. So yeah, it's not really the best idea to have a kid at 40+

Can you imagine saying this to someone in real life? That they shouldn’t have had their already-born children so late?

I have said something similar to friends in real life. A good friend was trying for her first in her 40s. We talked about how difficult it would be to raise that child and how not getting pregnant may be a blessing. She did get pregnant and baby and she are healthy. And she is also aware of the potential struggles that younger moms dont face. Her parents were older and both passed when she was in college, so its surprising to me that she made this choice knowing she will likely die before they reach full adult age.

You see posts on here all the time about women who are exhausted, suffering health issues, having marital problems, having life problems and then it comes out that they are 49 and have a 3 year old and its like, well yeah, duh. Your life stage is not compatible to being a mother of young kids. With lots of money you can alleviate the struggle. But it should be discussed and explained. Women in their 40s should generally not be encouraged to give birth.

I know this is off topic, sorry OP!

You sound jealous.

Where did you read jealousy? I'm PP and had my last child at age 30. I am now close to retirement and empty nest at nearing 50. Live is great. I feel bad for women who didnt have children younger.

+1

Everyone gets to choose, but then you must live with the consequences of your choices. Having at kid at45 means you are 67 when they graduate college. If you live to see grandkids, you might not be able to actually do much physically with them.

But being in your early 50s and kids out of college is awesome.

Except to quote my old financial advisor you can’t be 30 when you are 60. I had a midlife crisis at 29. Got a Mercedes convertible AND a Jeep convertible! Rented summer house in Hamptons, got apt in Manhattan, went skiing in Aspen, spring break in Palm Beach, dated models, actresses. Hung out celebs. Dated several girls at once. Went out to clubs 4-5 nights a week, in fact my friend laughed when he he met Howard Stern by accident and he called me his rich friend, snoop dog called me his rich white boy friend. Guess what I was bleeding money! Apparantly being friends celebs and dating super models expense

What if morale of story? Well got married had kids gave up that lifestyle 30 years ago and now worth 10 million, love in paid off 2 million dollar home, have paid off beach condo, but it is meaningless. You really can’t be 30 when you are 60. I look dumb,

No more pulling up in my white Linen paints, and designer silk shirt with a Cosmo model top down my Mercedes convertible 4th of July week in southampton to a hot club. Skipping last me and cover and parking right in front lawn as hey thats what I do. While Tara Banks and friends just look and go WTF. I recall dating briefly a trader on Wall Street and she was shocked at my lifestyle. I made 45k a year!! But Apparantly getting into car crash with a rich guy and a good lawyer put me back on top.

Now that I am pretty rich for real someone who went out 3,000 to 5,000 times, traveled all over, I lost the feel of it by 35. I feel sad folks trying to be young when old,

You still looked stupid doing that in your 30s. The 20s crowd was probably saying “who’s that old guy?” 29 was the cut-off age for that. Lol 😂

[Anonymous]

Anonymous wrote:We have about $10M. We have three kids, the oldest is in middle school. We are early 50s. DH works and I don’t. Given our kids’ ages, he will likely work another decade. The schedule of everyone we know is based on working with kids at home. We are stuck at home because of school schedules. He might retire when the oldest is at the end of high school.

Yikes! By the time he retires you all will be too old to do anything.

[Anonymous]

We are at 10m NW and retired at 54. life is good!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Because we want $10m to retire.

Why? Give us an outline of your retirement plans and why you need that much to achieve them, then explain why those plans are so important and desirable that they're worth giving up more of your prime years working to achieve them. I'm genuinely curious. After all, time is limited--for all of us.

10m NW is a good goal if you can achieve it by early/mid 50s.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This and the other thread are cracking me up. Can we agree on this: 1. If you have kids at home and you're not working you are not retired, you're a stay at home parent. 2. If you have kids at home and you are working, this question is not for you because, whether you're working or not if you have kids at home there's no such thing as "retirement" for you.

Somebody can start another thread asking "if you have more than $5 million and still have kids at home, why are you still working and not being a stay at home parent?" Then everyone can argue about that. But that is not this thread.

A SAHP to teenagers? Who are never home?

Doesn't matter. They're still anchoring you to your home. You're still not free in the retired sense. It's not just semantics.

Actually you are not that free when they are in college either. It never ends. Lol. .

[Anonymous]

In 3.5 years we will have federal health benefits (spouse did not know you needed to have it 5 years before retirement and we stupidly switched to mine a ways back; I learned this and we switched back to his). So 3.5 years Then we will retire . About 8m or so plus about 75k pension. Kids in high school right now so it’s not like we’d be traveling the world fork the in end anyway.

But it feels good to be ready. We should have College covered. Already in our mid 50s and I want a good decade before health issues (knowing they can come anytime).