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Money and Finances
Reply to ""$5 Million is a Nightmare... the Poorest Rich Person in America.""
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I relate to this. We’re at around $9mm net worth (not including our house, which is $5mm but only $2.5mm equity) and we don’t feel like it’s close to enough to retire, and we don’t live a super luxurious lifestyle. We’re mid-30s and live in a VHCOL city, which I think makes a difference. We plan to retire a little on the earlier side - maybe early 50s? - but when I hear about wealthy people buying fancy cars and designer clothes, I don’t consider myself “one of them.” I know I’ll get absolutely roasted for saying I don’t consider us rich, but there probably isn’t much of a difference between my lifestyle and most people who post here. [/quote] You could buy a lot of fancy car and designer clothes if you weren't living in a $5M house with $2.5M left to pay off. And you're only in your mid-30s? You should get roasted. [/quote] Our HHI is $4.2mm/year, so we could pay it off easily if we wanted to. We were able to lock in an absurdly low interest rate, so we’re keeping the mortgage because it’s basically free money. [/quote]
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