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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I would start taking better vacations.[/quote]

+1, fly private![/quote]

private? with 5M NW

LOL

add a zero..[/quote]

the comments on this forum amaze me. Most Americans really do think they have more money than they actually have. 5 million is the new 1 million. [/quote]

Right?!

5M is obviously great but all it does is buy security and minimal "luxuries." You should not be driving a flashy car, flying intl first class, staying at Four Seasons, etc.

You begin to afford this once you cross 10M. Why? a 5% withdrawal on 10M gets you 500k a year to screw around with, 5% on 5M is 250k --- hardly a lavish life. [/quote]

Eh, all that depends on personal factors. Let's say you have $5 million invested but also don't have any debt (i.e. own your cars, home, etc outright). That $250K less 15% capital gains tax = $212,500 or just shy of $18,000/month.

Even if you took $10K and put it towards saving for your next car, repairs around the house, house cleaning, lawn care, saving for kids' college, etc that's $8,000/month without any debt service. Spend some extra on clothes, a few fancy meals out, high quality groceries, etc - call it another $5K - you're left with "only" $3K/month. That's $36,000/yr and surely you can take a nice trip or two each year for that, right?[/quote]

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