Reply to "$5 Million is a Nightmare... the Poorest Rich Person in America."

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Reply to ""$5 Million is a Nightmare... the Poorest Rich Person in America.""

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]In short, if you own your house and can’t get by on $5 million, you have a high-cost lifestyle: country clubs, golf multiple times/week, multiple luxury vacation/year, multiple luxury cars on lease, etc. [/quote]
That's not unusual in this area.  There's also an army of people asking you for money all day long in addition to what you have listed.[/quote]

Well, that’s a choice. I think that a lot of people who scoff at $5 million for early retirement fall into several camps: 1) they’re in their 40s and family costs are still mounting. 40-50 years of retirement can bring a lot of uncertainties. 2) they’re in their 50s and have a luxury lifestyle they don’t want to sacrifice. 3) they’re in their late 50s or early 60s and they want luxury and to leave large bequests to their children and grandchildren. 4) they love their job or the platform it gives them.

People who find $5 million totally adequate are people who don’t find deep meaning in their work, value peace and quiet over the frills of life, are not focused on leaving their children millions of dollars, and are happy to adjust their life to their monetary circumstances. Of course, at $5 million, they know there won’t be any adjustment for their type of lifestyle. [/quote]

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