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Money and Finances
Reply to "People with $5M+ NW, why do you still choose to work?"
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[quote=Anonymous][quote=Anonymous]1) Wife 2) Children Most men I work with who are high income with high savings have a SAHM wife who spends, and four or five kids who spend. Have a trade up home and cars and still the guy who pays for everything, family vacations, kids on medical plan, kids on netflix, car insurance, phone plan. When I hit 5 million I had 360K income. that is 30K a month in the door, my 5 million is not replacing 30K a month income. Let alone my company is my medical, dental, vision, 401k match, partial phone plan. I break even at 260K a year. So 360K I am saving a lot. At retired I am pulling around 20K a month out of my 5 million. Do the math it is gone quick. I need to be an empty nestor all kids gone, off medical and home paid off to make it work. [/quote] This is similar to me Also - most people who retire watch a lot of television which doesn’t appeal. And I really enjoy my job (I know a shock for a lot of people here!)[/quote]
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