Anonymous
Post 08/01/2023 08:05     Subject: $7M vs $10M
Anonymous wrote:
Anonymous wrote:I don't think I'd have any lifestyle change between those two numbers. At $25M I think I'd start incorporating a few stupid-rich things, like chartering planes for travel. But at those numbers I'd be retired, relaxed, and still focusing on preservation.


Really? I'm going to reach that net worth in a few years, the way my portfolio is going, and there's no way I'd charter a plane, unless to get somewhere a commercial route can't go. I just want a normal middle class life, and preserve wealth for my descendants.



You don't even know those people. Drowning them in money isn't good for anyone.
All they see is some idiot stranger dropped a huge bag of money.
Anonymous
Post 08/01/2023 08:01     Subject: $7M vs $10M
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I don't think I'd have any lifestyle change between those two numbers. At $25M I think I'd start incorporating a few stupid-rich things, like chartering planes for travel. But at those numbers I'd be retired, relaxed, and still focusing on preservation.


Really? I'm going to reach that net worth in a few years, the way my portfolio is going, and there's no way I'd charter a plane, unless to get somewhere a commercial route can't go. I just want a normal middle class life, and preserve wealth for my descendants.



If you are close to $25 million, the words normal middle class do not describe you


They do, and this what a lot of people don't understand. I have a middle class income. Income and assets can be VERY different things. I happen to have lucked out in my stock portfolio, but that doesn't make my job high-earning. And since I'm still quite young, there is no way I'm quitting my life to gobble up my capital. I have kids to put through college, parents to look out for and spending on luxury just isn't my thing. Maybe I will re-evaluate when my kids are finished with college. But certainly not now.

I think you some of you, who probably all out-earn me, just don't quite understand what it's like to actually have 10M+ in a stock portfolio in your early 40s. It's not "Woohoo! Free money! Let's spend it". It's "Hmm, OK. My oldest's college is 85K a year. My father has dementia. Let's wait and see."




I get what you are saying, but normal middle class can’t fund $85000 a year for their child’s college.


$1Mx2 for super premium college and grad school for 2 kids, $2M for a decade of premium memory care, for dad, another $2 for self and spouse, $2M x2 for a modest house for each kids to inherit, and boom, $10M gone. Middle class can't make it in this country. The pandemic* hit us hard.


*affluenza pandemic
Anonymous
Post 08/01/2023 07:57     Subject: Re:$7M vs $10M
Anonymous wrote:Still stuck on the thread title as this is a problem that I wish that I had to face.

Nevertheless, out of respect for OP's question: My dogs would get a higher grade of dog food.


We wouldn't have to eat Kraft Dinner.
Anonymous
Post 08/01/2023 07:21     Subject: $7M vs $10M
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I don't think I'd have any lifestyle change between those two numbers. At $25M I think I'd start incorporating a few stupid-rich things, like chartering planes for travel. But at those numbers I'd be retired, relaxed, and still focusing on preservation.


Really? I'm going to reach that net worth in a few years, the way my portfolio is going, and there's no way I'd charter a plane, unless to get somewhere a commercial route can't go. I just want a normal middle class life, and preserve wealth for my descendants.



If you are close to $25 million, the words normal middle class do not describe you


They do, and this what a lot of people don't understand. I have a middle class income. Income and assets can be VERY different things. I happen to have lucked out in my stock portfolio, but that doesn't make my job high-earning. And since I'm still quite young, there is no way I'm quitting my life to gobble up my capital. I have kids to put through college, parents to look out for and spending on luxury just isn't my thing. Maybe I will re-evaluate when my kids are finished with college. But certainly not now.

I think you some of you, who probably all out-earn me, just don't quite understand what it's like to actually have 10M+ in a stock portfolio in your early 40s. It's not "Woohoo! Free money! Let's spend it". It's "Hmm, OK. My oldest's college is 85K a year. My father has dementia. Let's wait and see."




I get what you are saying, but normal middle class can’t fund $85000 a year for their child’s college.
Anonymous
Post 08/01/2023 07:00     Subject: $7M vs $10M
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I don't think I'd have any lifestyle change between those two numbers. At $25M I think I'd start incorporating a few stupid-rich things, like chartering planes for travel. But at those numbers I'd be retired, relaxed, and still focusing on preservation.


Really? I'm going to reach that net worth in a few years, the way my portfolio is going, and there's no way I'd charter a plane, unless to get somewhere a commercial route can't go. I just want a normal middle class life, and preserve wealth for my descendants.



If you are close to $25 million, the words normal middle class do not describe you


They do, and this what a lot of people don't understand. I have a middle class income. Income and assets can be VERY different things. I happen to have lucked out in my stock portfolio, but that doesn't make my job high-earning. And since I'm still quite young, there is no way I'm quitting my life to gobble up my capital. I have kids to put through college, parents to look out for and spending on luxury just isn't my thing. Maybe I will re-evaluate when my kids are finished with college. But certainly not now.

I think you some of you, who probably all out-earn me, just don't quite understand what it's like to actually have 10M+ in a stock portfolio in your early 40s. It's not "Woohoo! Free money! Let's spend it". It's "Hmm, OK. My oldest's college is 85K a year. My father has dementia. Let's wait and see."




This, exactly.
Anonymous
Post 08/01/2023 06:54     Subject: $7M vs $10M
It should double in way less than 10 years. I'd take $500k and buy low, sell high a volatile popular stock whole year. If ti doesn't go low, let it go. It's a great stock. Pick another one.
I wouldn't even go to work. I have enough to make money off of money at home- that would be my work.
I made over 11% on one stock yesterday in one day. Why would I now take advantage of such move. It's so much fun.
Anonymous
Post 07/31/2023 23:43     Subject: $7M vs $10M
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I don't think I'd have any lifestyle change between those two numbers. At $25M I think I'd start incorporating a few stupid-rich things, like chartering planes for travel. But at those numbers I'd be retired, relaxed, and still focusing on preservation.


Really? I'm going to reach that net worth in a few years, the way my portfolio is going, and there's no way I'd charter a plane, unless to get somewhere a commercial route can't go. I just want a normal middle class life, and preserve wealth for my descendants.



If you are close to $25 million, the words normal middle class do not describe you


They do, and this what a lot of people don't understand. I have a middle class income. Income and assets can be VERY different things. I happen to have lucked out in my stock portfolio, but that doesn't make my job high-earning. And since I'm still quite young, there is no way I'm quitting my life to gobble up my capital. I have kids to put through college, parents to look out for and spending on luxury just isn't my thing. Maybe I will re-evaluate when my kids are finished with college. But certainly not now.

I think you some of you, who probably all out-earn me, just don't quite understand what it's like to actually have 10M+ in a stock portfolio in your early 40s. It's not "Woohoo! Free money! Let's spend it". It's "Hmm, OK. My oldest's college is 85K a year. My father has dementia. Let's wait and see."




You seem to have gotten lucky in the market, but don’t understand what you have. $10M should generate $500k to $1 million annually in return. Can you not live on that? Sounds like $250k or less would be fine for your lifestyle. Run some numbers bro; you’re overthinking it.
Anonymous
Post 07/31/2023 23:21     Subject: $7M vs $10M
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I don't think I'd have any lifestyle change between those two numbers. At $25M I think I'd start incorporating a few stupid-rich things, like chartering planes for travel. But at those numbers I'd be retired, relaxed, and still focusing on preservation.


Really? I'm going to reach that net worth in a few years, the way my portfolio is going, and there's no way I'd charter a plane, unless to get somewhere a commercial route can't go. I just want a normal middle class life, and preserve wealth for my descendants.



If you are close to $25 million, the words normal middle class do not describe you


They do, and this what a lot of people don't understand. I have a middle class income. Income and assets can be VERY different things. I happen to have lucked out in my stock portfolio, but that doesn't make my job high-earning. And since I'm still quite young, there is no way I'm quitting my life to gobble up my capital. I have kids to put through college, parents to look out for and spending on luxury just isn't my thing. Maybe I will re-evaluate when my kids are finished with college. But certainly not now.

I think you some of you, who probably all out-earn me, just don't quite understand what it's like to actually have 10M+ in a stock portfolio in your early 40s. It's not "Woohoo! Free money! Let's spend it". It's "Hmm, OK. My oldest's college is 85K a year. My father has dementia. Let's wait and see."


Anonymous
Post 07/31/2023 23:14     Subject: $7M vs $10M
Anonymous wrote:Everyone saying "$10M" please post what that number was 5 or 10 years ago adjusting for inflation, or did you pick it just because the leading digit is 1?


In what world do you live ?
Anonymous
Post 07/31/2023 23:11     Subject: $7M vs $10M
Everyone saying "$10M" please post what that number was 5 or 10 years ago adjusting for inflation, or did you pick it just because the leading digit is 1?
Anonymous
Post 07/31/2023 22:51     Subject: Re:$7M vs $10M
Woof !
Anonymous
Post 07/31/2023 22:50     Subject: Re:$7M vs $10M
Still stuck on the thread title as this is a problem that I wish that I had to face.

Nevertheless, out of respect for OP's question: My dogs would get a higher grade of dog food.
Anonymous
Post 07/31/2023 22:41     Subject: $7M vs $10M
Anonymous wrote:I'd call it quits too. That's plenty for a nice UMC retirement. And if you don't touch it for 10 years you'll likely have double that amount.


Bingo! OP, that’s how you’ll get $10M.
Anonymous
Post 07/31/2023 22:40     Subject: Re:$7M vs $10M
Anonymous wrote:Do you all shop at Walmart ?


Dollar tree.
Anonymous
Post 07/31/2023 22:24     Subject: Re:$7M vs $10M
Do you all shop at Walmart ?