Reply to $7M vs $10M

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Reply to "$7M vs $10M"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't think I'd have any lifestyle change between those two numbers.  At $25M I think I'd start incorporating a few stupid-rich things, like chartering planes for travel.  But at those numbers I'd be retired, relaxed, and still focusing on preservation.[/quote]

Really? I'm going to reach that net worth in a few years, the way my portfolio is going, and there's no way I'd charter a plane, unless to get somewhere a commercial route can't go. I just want a normal middle class life, and preserve wealth for my descendants.

[/quote]

If you are close to $25 million, the words normal middle class do not describe you[/quote]

They do, and this what a lot of people don't understand. I have a middle class income. Income and assets can be VERY different things. I happen to have lucked out in my stock portfolio, but that doesn't make my job high-earning. And since I'm still quite young, there is no way I'm quitting my life to gobble up my capital. I have kids to put through college, parents to look out for and spending on luxury just isn't my thing. Maybe I will re-evaluate when my kids are finished with college. But certainly not now.

I think you some of you, who probably all out-earn me, just don't quite understand what it's like to actually have 10M+ in a stock portfolio in your early 40s. It's not "Woohoo! Free money! Let's spend it". It's "Hmm, OK. My oldest's college is 85K a year. My father has dementia. Let's wait and see."

[/quote]
STHU you have wealth, money already accumulated, and from what I gather, you know how to invest and grow it.  That trumps any high paying job, it's money you already have.  And do you think poor people don't have the same problems like college and elder care?  Your think your struggles (that don't allow you to enjoy your money and make you live miserly) are unique? These aren't struggles.  If you have this much and invest, you easily pay for your kids college and then some without noticing.  Same with parents, they will get SS and Medicare, everyone does.  And kids even if rich are not obligated to pay for extra care for the parents to collect government benefits.   If your parents qualify for benefits they get it, government isn't coming after your millions forcing you to pay for them.   Whatever you do, it's your preference and anxieties, doesn't reflect reality.[/quote]

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