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]We have $5-6m in our forties and we could not retire and do not feel wealthy for the following reasons:
1. A lot of our income goes to taxes
2. We have 3 kids to put through college.  We both went to schools that now cost $80k+ per year (DH had a full scholarship between athletics and need, my parents paid for mine), so we feel like this is something we need to do for our kids.
3. Our older home that we remodeled is crazy expensive to maintain.  Every year something almost catastrophic has gone wrong: we've had to replace the roof and almost every system. 
4. DH's parents have nothing saved for retirement.  We support them.
5. As a family, we like to golf, ski and mountain bike.  We do it as cheaply as we can, but they are expensive hobbies. 
6. We let our kids play travel sports. DH and I both both a sport at a high level growing up and in college, so it's natural that our kids will want to do the same. 
7. If something goes wrong in our marriage and we got divorced, $2.5m per person to maintain a household with kids is not enough to retire. 
We are grateful for what we have, but we certainly don't feel wealthy or ready to retire.  I relate to the quote a little in that I have lost my motivation to grind in my career, though.  I'm at the point where I feel enough is enough.  DH is still grinding. [/quote]

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