Do you feel financially secure?

[Anonymous]

Seems no matter what financial milestone I hit (recently got to $1M in net worth minus primary residence) it all feels like a house of cards. Stock market, real estate, and job all feel too volatile.

[Anonymous]

Anonymous wrote:Seems no matter what financial milestone I hit (recently got to $1M in net worth minus primary residence) it all feels like a house of cards. Stock market, real estate, and job all feel too volatile.

I'm at $1.28M (including primary residence) and I'm similar to you. I'm 33 now and shouldn't even stress over it, but I have in the past and I tend to periodically. It's helped me to remind myself that ive still got 20+ years to save, and if the shit ever went absolutely sideways - even if I lost half my net worth, or even 75%, there are places in the world I can live in retirement quite comfortably on much much more meager sums. I also noticed my anxiety increased dramatically when moving to DC, which I can only attribute to the fact that DC is so awash with cash, it seems to make it more obvious somehow. I don't know. But yes, it's hard not to worry. Just realize you are waaaaay ahead of 90% of folks and that should give you some comfort. If the average person somehow retires, you will too.

[Anonymous]

Don't check the stock market more than quarterly. Don't obsessively follow house prices on Redfin. Set your saving/investment goals and give yourself permission to spend and enjoy what is left.

That works for 75% of the time. But I still freak out occasionally.

[Anonymous]

Wow. I can't believe that someone with a $1m net worth would feel financially insecure. My/our net worth is a negative number (still paying off student loans), I'm 37, and I sleep fine at night. Just freaking relax. Life is not all about money.

[Anonymous]

Anonymous wrote:Wow. I can't believe that someone with a $1m net worth would feel financially insecure.

Not OP but $1M is not that much money anymore. I'd rather have it than not, sure, but I wouldn't feel set for life.

[Anonymous]

I am worried about my retirement, and really need to see a financial advisor about it to either allay my fears or tell me to change my life around. We have very tight cash flow right now, having just survived more than a year of unemployment, but as we can still put food on the table and have a roof over our heads... it leaves me free to worry about the future

[Anonymous]

Seriously. I can't help but wonder if this is just another backhanded opportunity to brag. It's almost pathological around here.

[Anonymous]

I don't feel financially secure. We had a choice last year to pay off the mortgage on our small condo, or upgrade to a bigger house. We did the latter and kept the condo as an investment/rental. So far this year we have had $15K in repairs and special assessments on both properties and it is freaking me out. Cash flow is tight and I feel like I would have slept better at night if I could have just been satisfied with where we were.

[Anonymous]

Anonymous wrote:I don't feel financially secure. We had a choice last year to pay off the mortgage on our small condo, or upgrade to a bigger house. We did the latter and kept the condo as an investment/rental. So far this year we have had $15K in repairs and special assessments on both properties and it is freaking me out. Cash flow is tight and I feel like I would have slept better at night if I could have just been satisfied with where we were.

If it makes you feel better the first year is always the worst for repairs. We had that happen to us when we moved here - $4,000 for one problem, then $2000 for a roof leak etc.... It'll get better

[Anonymous]

OP here, not trying to brag, just feeling overwhelmed with how expensive life is here and how uncertain the economy seems. Most of my net worth is tied up in the stock market and real estate investments so maybe I need a bigger emergency fund to feel better. It's about 6 months of expenses, after that I'd need to tap investments.

[Anonymous]

Anonymous wrote:Seriously. I can't help but wonder if this is just another backhanded opportunity to brag. It's almost pathological around here.

I am willing to give OP the benefit of the doubt that she is not trying to humblebrag but I do think there is something psychologically wrong when if OP is really worried. The large majority of people in this country (much less the world) are living paycheck to paycheck-- something like 1/3 of all households have no savings at all.

If you are "overwhelmed" by the uncertainty in the stock market, and the fact that if you lost your job you only have 6 months of expenses in liquid assets before you would have to tap your investments, then I'd suggest you should spend less time watching the stock market and more time volunteering in the community.

[Anonymous]

I feel good. We have lots of savings, good jobs, and are fairly good at controlling our spending. We also could live on a lot less than we do and have family who would help us if things were dire. We are fairly employable. And if everything goes downhill very badly, there will be lots of people in the same situation. Can't worry about everything.

[Anonymous]

Anonymous wrote:
I am willing to give OP the benefit of the doubt that she is not trying to humblebrag but I do think there is something psychologically wrong when if OP is really worried. The large majority of people in this country (much less the world) are living paycheck to paycheck-- something like 1/3 of all households have no savings at all.

If you are "overwhelmed" by the uncertainty in the stock market, and the fact that if you lost your job you only have 6 months of expenses in liquid assets before you would have to tap your investments, then I'd suggest you should spend less time watching the stock market and more time volunteering in the community.

agreed 100%

[Anonymous]

Anonymous wrote:

Anonymous wrote:
I am willing to give OP the benefit of the doubt that she is not trying to humblebrag but I do think there is something psychologically wrong when if OP is really worried. The large majority of people in this country (much less the world) are living paycheck to paycheck-- something like 1/3 of all households have no savings at all.

If you are "overwhelmed" by the uncertainty in the stock market, and the fact that if you lost your job you only have 6 months of expenses in liquid assets before you would have to tap your investments, then I'd suggest you should spend less time watching the stock market and more time volunteering in the community.

agreed 100%

Me, too. Perhaps OP and the $1.28M PP should spend some of their hoard on therapy and/or anxiety meds.

By retirement age, 90% of this country are dead or dead broke.

[Anonymous]

Anonymous wrote:Seriously. I can't help but wonder if this is just another backhanded opportunity to brag. It's almost pathological around here.

Did you have any tech investments in 2000? Did you have a decent portfolio in 2008? Have you lost your job recently?. Do others depend on you for financial support?