I only feel thankful because it could all go away in an instant.

You should really only feel guilty if you’re selfish, or if you job is so all-consuming that you are hurting your own health and/or neglecting your family. Unfortunately all the wealthy people I know fall into these categories.

Uh oh…posts like these signal a top.

How many people made similar comments in 1999 (just buy pets.com and ride it to the moon) or 2006 (my 5 homes with $0 down and NINJA mortgages are worth millions).

Anonymous wrote:I don’t really see the home appreciation as “wealth” in the way other people seem to because we still need a house. And if we ever sold our house and realized those gains, we’d need to buy another house that is now a lot more expensive too.

Like it’s definitely nice to have gotten in when prices were lower, but it’s not the same as a lucky stock pick because you’re just keeping up with everyone else, I guess.

For many people, their primary residence is purely an asset of their children. The only "value" occurs upon their passing when the kids sell the home and pocket the proceeds. Otherwise, your home is your home. You live there. The increase in value can help for a variety of reasons but hardly contributes to how wealthy you are/should feel.

Anonymous wrote:I don’t really see the home appreciation as “wealth” in the way other people seem to because we still need a house. And if we ever sold our house and realized those gains, we’d need to buy another house that is now a lot more expensive too.

Like it’s definitely nice to have gotten in when prices were lower, but it’s not the same as a lucky stock pick because you’re just keeping up with everyone else, I guess.

It's still wealth because you can get a reverse mortgage.

I don’t really see the home appreciation as “wealth” in the way other people seem to because we still need a house. And if we ever sold our house and realized those gains, we’d need to buy another house that is now a lot more expensive too.

Like it’s definitely nice to have gotten in when prices were lower, but it’s not the same as a lucky stock pick because you’re just keeping up with everyone else, I guess.

Anonymous wrote:

Anonymous wrote:I don’t think it is difficult to make money. In fact, as I’ve gotten wealthier I find it gets easier.

But I also find humility to be a valuable trait. There is always someone wealthier than you OP. Your doing fine as compared to the masses but there are those on here independent of family help making annually your entire net worth and with net worths ten fold what you have. And I’m not referring to people much older than you.

Yes, same net worth as OP and younger but never felt the need to start a post about how easy it was to get there.

Why not? Jump aboard!

In the world of DCUM it's easy to make millions.
They beat IB and hedge funds with their clever investments every time
They always time RE purchases perfectly, and never experience downturns in RE/Stock/Job markets (even those who are middle aged)
They even have fast appreciating and low maintenance second homes that they don't have to rent out
Everyone works high paying jobs that are so great and fun they want to keep working forever
DCUM is going to leave fortunes to their kids, because it's important they never have to save for their DP, send kids to public schools, or pay for their wedding or travel, after all, parents love their jobs.
If any young people complain about having to work forever and not seeing any rewards they'll call them lazy, but not their own kids who "need" parental help
Everyone is frugal yet needs millions in retirement to afford their modest lifestyle

Did I miss anything?

Lend it, spend it, send it rolling separately around.

Sponsor charitable events to convert your money into statua. Fulfill the noblesse oblige

Anonymous wrote:

(1)
Home appreciation. Mclean didn't appreciate as much even in premium areas. Older mcMansions go for maybe 500-600K more because so many new ones are built, which go for about 3m median price. The only way it could happen is if you bought a much more expensive home and/or remodeled it in a luxury way (doubtful any of this is true given your HHI of 450 and your NW of 1m back then.

we bought our house for around 1.6m, comps with similar sft and lot size now are about 2.4m

(2)
How is your retirement "fully funded" when your NW is only 4 mil including your home and 401K? That's not much for someone in their late 30s to retire on especially with the tastes like private schools and "some" nice cars. You can't possibly be financially independent given your spending and your age and a lot of your NW tied up in home equity and 401K

Its fully funded not in we can retire today and never work, we still have high expenses, but we have plenty of cushion if we need to go single income or if one of us gets laid off for a while.

(3)
How did you afford to invest and have quite a pricey lifestyle (private schools, luxury cars, travel) in an expensive home (even with a low rate) starting with 1m NW (which wasn't liquid if you had 401Ks)? If you both worked and had childcare expense especially

my husband has done quite well investing our money, he has a background in finance

2.4 mil - 1.6 mil =800k that's before cap gains tax on anything over 500K or any other costs seller incurs.

People have different ideas when you talk about financial independence. You have to keep working or your spouse does. it's counting on future economy chugging along at the same pace and one of you having gainful employment and stamina to keep it up. You are in a great spot and on your way, but you aren't IMHO financially independent.
this doesn't answer the question how you were able to afford private schools, nice cars and an expensive DP on HHI of 450 with 2 jobs and childcare and only 1mil in NW and tied up in your retirement accounts. Maybe you aren't telling about another source of money? Inheritance, perhaps?

With all you said, I don't think you should be so gleeful even if you think this money had been easy.

Anonymous wrote:I don’t think it is difficult to make money. In fact, as I’ve gotten wealthier I find it gets easier.

But I also find humility to be a valuable trait. There is always someone wealthier than you OP. Your doing fine as compared to the masses but there are those on here independent of family help making annually your entire net worth and with net worths ten fold what you have. And I’m not referring to people much older than you.

Yes, same net worth as OP and younger but never felt the need to start a post about how easy it was to get there.

I don’t think it is difficult to make money. In fact, as I’ve gotten wealthier I find it gets easier.

But I also find humility to be a valuable trait. There is always someone wealthier than you OP. Your doing fine as compared to the masses but there are those on here independent of family help making annually your entire net worth and with net worths ten fold what you have. And I’m not referring to people much older than you.

Derail

Thank God every day for your good fortune.
Share generously with those less fortunate.
Build a good safe nest egg
Then enjoy it while it lasts because you never know when something may end or change it all. (As it did for me and many others)
You can do everything right in life and someone or something can detail it all.

Totally agree, OP. Now, when Republicans pump another tax cut, maybe you can step up and tell the world that the rich don’t need more money at the expense of the poor.

What is your NW now?