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]I’m the early retired big law partner above.  It worked for us because we got married young, had kids (four) young, avoided the private school money pit, and lived well within our means when I was making good money.  When our youngest was late into their college years (UVA) the light was very clear at the other end of the tunnel so I decided to quit messing around and just walked away.

When you’re not paying for the kids’ educations, have a nice chunk of equity in your house after years of ownership, and no longer saving for retirement $200k to $250k goes a surprisingly long way.  We have a nice house in the city, a nice house in the country, and a rental property in a desirable part of the DMV.  We travel extensively and well - not luxuriously, but well - and don’t want for much of anything.  And, as I said, our net worth has actually almost doubled in the last decade despite neither one of us working.  The key to really is to live below your means when making good money.  We never lived like millionaires even when we were actually making (close to) that amount of money, so we didn’t have to change our lifestyle at all once we stopped pulling that kind of money in. [/quote]

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