And that’s the $5M point

[Anonymous]

What is the point of this thread, really?

[Anonymous]

Anonymous wrote:What is the point of this thread, really?

For DCUM millionaires to affirm each other and pat themselves on the back because they think they’ve “made it”.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can retire with basically nothing if you have a big enough pension or real estate. If you think that you need more than 5 mil, you probably have a spending/mental problem.

For those without a pension, $5M is only $150k a year on the 3% rule.

“Only”. Puts them in the top 10% of HHI.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What is the point of this thread, really?

For DCUM millionaires to affirm each other and pat themselves on the back because they think they’ve “made it”.

The real spoiler alert is that most of these posters are just making it up as they go

[Anonymous]

Anonymous wrote:What is the point of this thread, really?

Op wanted to brag and get attention.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What is the point of this thread, really?

Op wanted to brag and get attention.

So? It's not like OP can tell her friends IRL about this milestone. It's a big achievement, but it's not a good idea to share it with people you actually know, because they might be jealous or start expecting OP to pick up the tab going forward. Stealth wealth IRL is the way to go.

I don't know about you, OP, but I also keep track of my investable assets as an individual in case of a divorce. I will be at my number when I know I have enough to retire even if we were to divorce.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can retire with basically nothing if you have a big enough pension or real estate. If you think that you need more than 5 mil, you probably have a spending/mental problem.

For those without a pension, $5M is only $150k a year on the 3% rule.

We do not even spend $150k now for family of 4. I would dream about it if we can spend $150k including taxes, healthcare & everything but not housing for two of us.
Aim low, anything above will be cherry on top.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can retire with basically nothing if you have a big enough pension or real estate. If you think that you need more than 5 mil, you probably have a spending/mental problem.

For those without a pension, $5M is only $150k a year on the 3% rule.

“Only”. Puts them in the top 10% of HHI.

If you are used to living on a lot more it will bean adjustment is all.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We just crossed it, this morning, based on this market price advance. (Investment portfolio, not counting house.)

When do you expect to retire? We’re at 5.5M, and it’s hard to know what number is realistic. Not asking for advice; just curious what others are doing.

Op. In about 20 years

Most 40YO DCUMmers have $20M by now, per the latest threads. So, with $5M you're behind.

Exactly! Everyone has $20M at 40 bc they sAvED and LiVeD bElOw ThEiR mEaNs. And aren't house poor.

I've heard it possible if you don't buy guac @ Chipoltle.

I don't make the rules...

[Anonymous]

Anonymous wrote:A person's amount is dependent on how much they think they will need to live on in retirement.

We haven't retired yet, but about 7 years ago we started tracking every penny we spend. We always kept track, but not like we are now.

We know our bare minimum amount needed/year, our nice life amount, and extravagant amount which we calculate as a long term number in case we need LTC.

Exactly this--depends a lot on your spending habits compared to 3% of savings / thrift + pension/SS.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What is the point of this thread, really?

Op wanted to brag and get attention.

OP is proud and happy and I see nothing wrong with that. It's a big milestone for OP. Just be happy for him or move on.

[Anonymous]

So if you have 3.5-4M in savings (not including your house), where should you put this money so it generates safely 100-150k$/yr? Can that come to you tax free? We are age 55 with this amount. TIA!

[Anonymous]

We retired and whatever we have had to be enough.

[Anonymous]

3.5-4M of tax exempt bonds would meet your tax exempt income goal. However, I’m assuming that some of your $ is in 401k which you wouldn’t invest in tax exempt bonds

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can retire with basically nothing if you have a big enough pension or real estate. If you think that you need more than 5 mil, you probably have a spending/mental problem.

For those without a pension, $5M is only $150k a year on the 3% rule.

We do not even spend $150k now for family of 4. I would dream about it if we can spend $150k including taxes, healthcare & everything but not housing for two of us.
Aim low, anything above will be cherry on top.

That’s actually way more impressive to me than amassing $5M.