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][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]

I get what you are saying, but normal middle class can’t fund $85000 a year for their child’s college. [/quote]

$1Mx2 for super premium college and grad school for 2 kids, $2M for a decade of premium memory care, for dad, another $2 for self and spouse, $2M x2 for a modest house for each kids to inherit, and boom, $10M gone. Middle class can't make it in this country. The pandemic* hit us hard.

[size=7]*affluenza pandemic[/size][/quote]

Haha, you nailed it! This is just all plain greed. Ya all greedy and/or anxious and don't know what you have.  Also hogging all these well paying jobs making it difficult for younger generation to get paid too.  Just quit already, live your lives and enjoy and let those behind you advance and make their nut too.  What are you doing exactly with your loads of cash?  Playing markets to make sure you got these millions to afford a "better" nurse to wipe your a$$?  Waiting to travel?  Hey, travel overseas isn't super fun with a cane or a wheelchair and a bag of pills you have to take around the clock.  Looking at the world through the window of a boat or an SUV because you cannot walk much or climb or swim isn't experiencing it.  Broke young people enjoy travel more.[/quote]

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