At what net worth did you feel rich?

[Anonymous]

Anonymous wrote:When I was able to go to the grocery store and buy what I wanted without thinking about the price or adding it up in my head.

Apparently I have very low standards. But I marvel over my luck wrt to money every day.

You are not alone

[Anonymous]

Anonymous wrote:I don't know what rich is but I feel very secure. No debt, can buy whatever I want yet my wants are few. I can't wait until my husband retires.

I know the feeling! We had more for retirement then we needed but my DH had built a very successful company and it was hard for him to retire. But we built a beautiful winter home in FL and after two winters of him only getting there every other weekend and then getting flights cancelled because of weather problems he said it's time and we have enough. It was hard for him but I was so happy that he wanted to spend all of his time with me.

[Anonymous]

We have over $4M in the bank and I would never buy a Louis Vitton bag, Chanel outfit, fly first class, etc... I don't think we will ever feel rich, I came from a family that didn't have much so I always feel like we need to save everything.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our net worth would clearly indicate that we are rich but we didn't grow up that way and I'm still a huge bargain shopper. I can easily afford to spend $800 on a blazer at Nordstrums but I really love it when I buy a lightly used blazer at a consignment shop for $100. I still agonize about spending the extra to fly first class and if I'm traveling alone I will usually fly coach. I love traveling with my DH because he won't fly coach! So while I know we are rich it took years of hard work, aggressive saving and bargain shopping and it's still in my DNA. At the same time I don't worry about money which is a great feeling.

PP here. I’m somewhat like you, except I’m the DH.
I wait to buy most things until they’re on sale and I never pay for 1st class on a plane. However, I do pay for “comfort seating” or premium economy, to me that’s worth it.
Curious though, what’s your approximate net worth?

It's really high. If I said the amount people would think I'm crazy to shop in a consignment store.

That means you have serious money! Well done and I don't think you are crazy as it means you are smart.

[Anonymous]

Anonymous wrote:We have over $4M in the bank and I would never buy a Louis Vitton bag, Chanel outfit, fly first class, etc... I don't think we will ever feel rich, I came from a family that didn't have much so I always feel like we need to save everything.

Same with us but once we were both 60+ we loosened the purse strings but never for a Louis Vuitton bag. First class - ridiculous but why not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Secure? $2m
Rich? not close. Rich seems like private airplanes and servants.

I think part of never getting to rich is that it will cost me more than $1 million to put my 4 kids through 4 years of college. Absolutely ridiculous. College costs in America have to change.

I agree! The cost of college tuition and the annual increases has to stop! The average American can't afford it and kids are losing education or coming out of college with big big debt. ridiculous.

[Anonymous]

I'm not sure I will ever think a Louis Vuitton bag is worth it, no matter what my worth.

[Anonymous]

Anonymous wrote:We have over $4M in the bank and I would never buy a Louis Vitton bag, Chanel outfit, fly first class, etc... I don't think we will ever feel rich, I came from a family that didn't have much so I always feel like we need to save everything.

Same. We are at $6m and we have some splurges but not that kind of stuff. I might bend on at least business class for international flights at some point though. I travel that way for work and it is pleasant.

[Anonymous]

Anonymous wrote:

Anonymous wrote:FIRE - Financially Independent Retired Early. Pension paying 100% of final salary, house paid off and net worth around 2 million. Not sure I’d consider myself rich though.

What organization?

County of San Francisco Retirement System - Public Safety Employee

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Secure? $2m
Rich? not close. Rich seems like private airplanes and servants.

I think part of never getting to rich is that it will cost me more than $1 million to put my 4 kids through 4 years of college. Absolutely ridiculous. College costs in America have to change.

No one forced you to have four kids. Stop complaining about the problem you created. You can’t control college costs, but you can control having four kids. Sorry, it’s just such a pet peeve of mine, people with three or four kids complaining about education costs. They were high when you got pregnant and they will continue to rise, it’s why most people don’t have three or four kids.

Um, someday those four kids may be paying YOUR SS. Be glad that other families are willing to bear the cost of your future retirement and actually saving to pay their kids' way through school. It's not like they are on public assistance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Secure? $2m
Rich? not close. Rich seems like private airplanes and servants.

I think part of never getting to rich is that it will cost me more than $1 million to put my 4 kids through 4 years of college. Absolutely ridiculous. College costs in America have to change.

where the heck is it that little in the future? Today plenty of colleges are charging 70K a year. With inflation for kids not yet in HS you are looking at 100K a year for kids. With four kids the cost is 1.6 million assuming no grad school. BTW this is Amherst College cost as of TODAY. The prices are crazy and this is not even ivy league

For 2018-19, the typical student expense budget includes:

Comprehensive fee (tuition, room and board): $70,260
Other student fees (student activities, campus center programs and residential governance): $906
Health insurance* (may be waived): $1,938
Tuition insurance (may be waived): $81 (per semester) ***
Books and supplies (estimated): $1,000
Personal expenses (estimated): $1,800
Travel/Transportation** (estimated; varies by location): $50-$2,500
Cost of attendance: $75,954–78,566

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Secure? $2m
Rich? not close. Rich seems like private airplanes and servants.

I think part of never getting to rich is that it will cost me more than $1 million to put my 4 kids through 4 years of college. Absolutely ridiculous. College costs in America have to change.

where the heck is it that little in the future? Today plenty of colleges are charging 70K a year. With inflation for kids not yet in HS you are looking at 100K a year for kids. With four kids the cost is 1.6 million assuming no grad school. BTW this is Amherst College cost as of TODAY. The prices are crazy and this is not even ivy league

For 2018-19, the typical student expense budget includes:

Comprehensive fee (tuition, room and board): $70,260
Other student fees (student activities, campus center programs and residential governance): $906
Health insurance* (may be waived): $1,938
Tuition insurance (may be waived): $81 (per semester) ***
Books and supplies (estimated): $1,000
Personal expenses (estimated): $1,800
Travel/Transportation** (estimated; varies by location): $50-$2,500
Cost of attendance: $75,954–78,566

What a waste of money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Secure? $2m
Rich? not close. Rich seems like private airplanes and servants.

I think part of never getting to rich is that it will cost me more than $1 million to put my 4 kids through 4 years of college. Absolutely ridiculous. College costs in America have to change.

where the heck is it that little in the future? Today plenty of colleges are charging 70K a year. With inflation for kids not yet in HS you are looking at 100K a year for kids. With four kids the cost is 1.6 million assuming no grad school. BTW this is Amherst College cost as of TODAY. The prices are crazy and this is not even ivy league

For 2018-19, the typical student expense budget includes:

Comprehensive fee (tuition, room and board): $70,260
Other student fees (student activities, campus center programs and residential governance): $906
Health insurance* (may be waived): $1,938
Tuition insurance (may be waived): $81 (per semester) ***
Books and supplies (estimated): $1,000
Personal expenses (estimated): $1,800
Travel/Transportation** (estimated; varies by location): $50-$2,500
Cost of attendance: $75,954–78,566

The most prestigious schools were always going to be expensive . You can go to a state school and get a degree for $30,000. Yes. 30k. For 4 years.

Or you know, not go to college at all. I doubt your elementary schoolers have any idea of what they want to do when they grow up

[Anonymous]

$12M which meant we could have a $2M home and $10M in investable assets

[Anonymous]

The day I got married I felt rich but we had no money! 25 years later after my DH's company was acquired he came home with an ATM receipt that showed a very big wire transfer deposit and then I felt very rich. But marrying him was even better. The money is great but the adventure has been better.