How much net worth would you need, at what age, to feel "set"?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow, if you dont place any value on being home with kids when you are financially set, then I feel sad for those kids.

What are you talking about?

The OP has very small children and five million. Yet she has not interest in being with them.

Or she does but hasn't decided what to do
Or the $5M hasn't sunk in
Or she might end up PT
Or she does but also values her life outside home
Or she wants to do it when they are a bit older
Or she sees value in making the $5M into $10M and creating a generation skipping trust
Or any other number of possibilities that exclude "shes a cunt"

[Anonymous]

Nobody but you used that c word.
It is sad how very little value she placed on her kids.
I would be pretty upset looking back if my mom had five million and sent me to daycare every day.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow, if you dont place any value on being home with kids when you are financially set, then I feel sad for those kids.

What are you talking about?

The OP has very small children and five million. Yet she has not interest in being with them.

Or she does but hasn't decided what to do
Or the $5M hasn't sunk in
Or she might end up PT
Or she does but also values her life outside home
Or she wants to do it when they are a bit older
Or she sees value in making the $5M into $10M and creating a generation skipping trust
Or any other number of possibilities that exclude "shes a cunt"

Thanks, pp (this is OP). The inheritance was recent and the second child isn't born yet (38 weeks, figured it was easier to just say two). The support in this thread has been really wonderful and I appreciate it.

To the person who says I have "not [sic] interest in being with my kids" - that's so out there that I can't even address it.

[Anonymous]

I cant understand how SAH is even a question.
I will be honest.
I stayed home and we had much much much less.

[Anonymous]

No, but it might be a reflection of earned income versus a lump sum in hesitance. 35 with an 8.5M net worth and I feel incredibly fortunate, but not set. $5M conservatively brings in less than $200k per year. I paid around $500k in taxes alone last year, so it doesn't seem nearly enough.

[Anonymous]

Many people would rather work AND have kids even if they don't NEED to work. You can bring other things by modeling a career you love for your kids. And still be really close to your highly functioning kids. SAH, doing nothing else, isn't an ideal everyone seeks. Nor should it be.

[Anonymous]

How much net worth would I need to feel set? Eighty bajillion dollars.

[Anonymous]

OP: work if you need to. Yes, some people do NEED to work in order to feel like a complete person. I have several relatives who are or were SAHMs, and I think they were just so neurotic that they did damage to their kids, and a fulfilling career would have helped them find fulfillment outside of their home and stress out their kids less. Especially since they were both terribly intelligent and seemed really bored at home.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The more interesting question for me is how do you share this with DH? Does he get to quit too? Will you just set it aside? Does he have an equal right to spend it? Do you live it up and go to the spa every day while he is at work? This attitude would ruin a marriage.

On the other hand, if you share everything, you may regret it later. The divorce rate is quite high, even for people who are happily married in their 30s.

+1

I inherited $150K from my mother last year. It remains in my sole name. She left it to me, not to DH and me.

wow. just wow.

I inherited 600 k and I shared it.

I had an inheritance which I invested with DH as 100% beneficiary. We will use it for retirement. There is no need to put it in a joint account. No need for you to be self righteous. People should do what they're comfortable with and spouses should not feel like they are owed half the inheritance, cause guess what? They have no legal or moral ground to stand on. As for OP, your inheritance is very large by any standards other than life in Manhattan and you are set. Go to an FA and work with a tax accountant you trust.