Anonymous wrote:Anonymous wrote:I used to work in biglaw. All the top dogs had already made millions. Many were very impressive lawyers and some were even nice people. The one I respect most is the 50-year-old equity partner who retired at the peak of his career to live his life. He was not the wealthiest of the partners, but he sure had his priorities straight.
Amen to that.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:We take a lot of baller vacations that cost a lot and I'm not willing to give that up anytime soon, lol
Same. We have a little under $40m.
Maybe work a few more years….would be happy at $75-100.
What kind of vacations do you take? Rent a yacht at 100K a week? Own multiple vacation homes that are $$$$ to maintain? I am trying to imagine what type of work someone does who has NW like this that they love outside of managing a successful business where employees run it and there is no day to day work. I know some successful business owners like this who don't go to work every day, but they still have enough stress that they dream about selling it and retiring. What is it that you do that you love so much that gives so much money without you dreaming about retiring with a very healthy sum to afford luxury lifestyle, but needing multiples of this for what exactly? Are you investing actively, that's all you do?
The most important question to ask is how those who work a lot to earn major coin have time to take these many lavish vacations.
CEO
We go away at least 4-5.5 weeks a year (not counting weeks at summer home ; working remotely there).
Generally working everywhere but all good.
Anonymous wrote:Anonymous wrote:Anonymous wrote:We take a lot of baller vacations that cost a lot and I'm not willing to give that up anytime soon, lol
Same. We have a little under $40m.
Maybe work a few more years….would be happy at $75-100.
What kind of vacations do you take? Rent a yacht at 100K a week? Own multiple vacation homes that are $$$$ to maintain? I am trying to imagine what type of work someone does who has NW like this that they love outside of managing a successful business where employees run it and there is no day to day work. I know some successful business owners like this who don't go to work every day, but they still have enough stress that they dream about selling it and retiring. What is it that you do that you love so much that gives so much money without you dreaming about retiring with a very healthy sum to afford luxury lifestyle, but needing multiples of this for what exactly? Are you investing actively, that's all you do?
Anonymous wrote:A lot of very wealthy people I know are very wealthy because they love to work and win at work. So they don’t want to retire. My DH doesn’t care about spending his money. In fact he’d prefer not to spend it and instead make more money with what he already has. He just wants to keep playing the game and winning.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:We take a lot of baller vacations that cost a lot and I'm not willing to give that up anytime soon, lol
Same. We have a little under $40m.
Maybe work a few more years….would be happy at $75-100.
What kind of vacations do you take? Rent a yacht at 100K a week? Own multiple vacation homes that are $$$$ to maintain? I am trying to imagine what type of work someone does who has NW like this that they love outside of managing a successful business where employees run it and there is no day to day work. I know some successful business owners like this who don't go to work every day, but they still have enough stress that they dream about selling it and retiring. What is it that you do that you love so much that gives so much money without you dreaming about retiring with a very healthy sum to afford luxury lifestyle, but needing multiples of this for what exactly? Are you investing actively, that's all you do?
The most important question to ask is how those who work a lot to earn major coin have time to take these many lavish vacations.
Anonymous wrote:I used to work in biglaw. All the top dogs had already made millions. Many were very impressive lawyers and some were even nice people. The one I respect most is the 50-year-old equity partner who retired at the peak of his career to live his life. He was not the wealthiest of the partners, but he sure had his priorities straight.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:For me it’s not even my work that I dislike, it’s everything else about it - the waking up early getting out of your warm bed on a cold dark winter morning, crappy long commute, have to answer to other people, being compelled to to go work even when you’re not feeling it that day, 5 days week, not having enough time for hobbies, exercise, home cooking, travel, spending time with your family - at least not without feeling like your life is hectic. WFH was supposed to fix some of this but now it’s going away in most places. Also NEEDING to live in a HCOL area with terrible traffic and everyone around you is an obsessive overachiever sucks too.
I ONLY work for money at this point, as soon as I have a few mil I’m gone. I don’t get people with 7+ million dollars who still choose to grind away their young healthy years in the rat race in, to be honest, a crappy city like DC (or any other HCOL area for that matter).
Once you have 7 million, you would want 14.
+1. $7 mill in your 40s in a HCOL with 2-3 kids to support…Not enough. You are not even that rich at this level. A decent 4-bedroom apt in Manhattan starts at $7mill and goes up if you want a nice neighborhood and a good layout. Way up.
If the 7 mil is just your portfolio that’s about 250k/yr for the rest of your life. That’s an upper middle class lifestyle
Not real alt. We cannot keep up our lifestyle on that, and we aren’t even buying nice clothes or use private school. Still need to pay for college though.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:For me it’s not even my work that I dislike, it’s everything else about it - the waking up early getting out of your warm bed on a cold dark winter morning, crappy long commute, have to answer to other people, being compelled to to go work even when you’re not feeling it that day, 5 days week, not having enough time for hobbies, exercise, home cooking, travel, spending time with your family - at least not without feeling like your life is hectic. WFH was supposed to fix some of this but now it’s going away in most places. Also NEEDING to live in a HCOL area with terrible traffic and everyone around you is an obsessive overachiever sucks too.
I ONLY work for money at this point, as soon as I have a few mil I’m gone. I don’t get people with 7+ million dollars who still choose to grind away their young healthy years in the rat race in, to be honest, a crappy city like DC (or any other HCOL area for that matter).
Once you have 7 million, you would want 14.
+1. $7 mill in your 40s in a HCOL with 2-3 kids to support…Not enough. You are not even that rich at this level. A decent 4-bedroom apt in Manhattan starts at $7mill and goes up if you want a nice neighborhood and a good layout. Way up.
If the 7 mil is just your portfolio that’s about 250k/yr for the rest of your life. That’s an upper middle class lifestyle
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:We take a lot of baller vacations that cost a lot and I'm not willing to give that up anytime soon, lol
Same. We have a little under $40m.
Maybe work a few more years….would be happy at $75-100.
What kind of vacations do you take? Rent a yacht at 100K a week? Own multiple vacation homes that are $$$$ to maintain? I am trying to imagine what type of work someone does who has NW like this that they love outside of managing a successful business where employees run it and there is no day to day work. I know some successful business owners like this who don't go to work every day, but they still have enough stress that they dream about selling it and retiring. What is it that you do that you love so much that gives so much money without you dreaming about retiring with a very healthy sum to afford luxury lifestyle, but needing multiples of this for what exactly? Are you investing actively, that's all you do?
The most important question to ask is how those who work a lot to earn major coin have time to take these many lavish vacations.
Not PP but biglaw partner --- vacations are important. Our firm wants everyone to take the time. I take 4-5 weeks every year. You just make the time. We do not let partners not take time. We will mandate it if we see someone who is not taking vacation.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Ego
I don’t get it either. One of my main motivations for becoming wealthy was to not have to work.
Some actually enjoy their jobs
Some executives/leaders feel a need to stay with their team to see thru the next phase of a company, so they would feel guilty retiring/departing before completing their full commitment. Because there are leaders that actually care about their employees
Yea right
DP here. You don't know many truly top and rare experts in their field. People who are just getting by at their job lower level would rather retire young and sit around and do nothing, they are skating along in life, but daydream about being rich.
If you are truly a top and rare expert - life is different - you enjoy what you do, and you are sought out for what you do, and you want to continue helping your client (or whatever you call them). Such rare individuals need to use their brain, and need to contribute (usually to a greater good), that is what keeps them going. It is extremely hard to articulate that to a couch potato.
Oh pleaseYou are saying that people who are experts in their fields are all rich? That's BS becaues some fields just don't pay that well. The ones that do are Finance, Big Law, maybe.. specialized medicine and Tech. The rest earn wealth by starting businesses that succeed, some don't even have college degrees or do anything intellectual or would be considered "smart", they are just good at business. Doesn't mean these people are smarter than your college professor teaching math at a top college and at the top of their game. Whatever flatters your ego.
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NP here. Yes the PP seems more like an egomaniac, narcissist vs an SME
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Ego
I don’t get it either. One of my main motivations for becoming wealthy was to not have to work.
Some actually enjoy their jobs
Some executives/leaders feel a need to stay with their team to see thru the next phase of a company, so they would feel guilty retiring/departing before completing their full commitment. Because there are leaders that actually care about their employees
Yea right
DP here. You don't know many truly top and rare experts in their field. People who are just getting by at their job lower level would rather retire young and sit around and do nothing, they are skating along in life, but daydream about being rich.
If you are truly a top and rare expert - life is different - you enjoy what you do, and you are sought out for what you do, and you want to continue helping your client (or whatever you call them). Such rare individuals need to use their brain, and need to contribute (usually to a greater good), that is what keeps them going. It is extremely hard to articulate that to a couch potato.
Oh pleaseYou are saying that people who are experts in their fields are all rich? That's BS becaues some fields just don't pay that well. The ones that do are Finance, Big Law, maybe.. specialized medicine and Tech. The rest earn wealth by starting businesses that succeed, some don't even have college degrees or do anything intellectual or would be considered "smart", they are just good at business. Doesn't mean these people are smarter than your college professor teaching math at a top college and at the top of their game. Whatever flatters your ego.
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