 Gettin yours? (by BRAD 20,000 [IN]) Jun 14, 2018 7:43 PM
 Gettin yours? (by cjo'h [CT]) Jun 14, 2018 11:42 PM
Gettin yours? (by Hoosier [IN]) Jun 15, 2018 3:52 AM
Gettin yours? (by LindaJ [NY]) Jun 15, 2018 4:17 AM
Gettin yours? (by Smokowna [MD]) Jun 15, 2018 4:50 AM
Gettin yours? (by WMH [NC]) Jun 15, 2018 4:51 AM
Gettin yours? (by S i d [MO]) Jun 15, 2018 4:55 AM
Gettin yours? (by Sisco [MO]) Jun 15, 2018 5:21 AM
Gettin yours? (by Kurt [MI]) Jun 15, 2018 6:42 AM
Gettin yours? (by Landlord ofthe Flies [TX]) Jun 15, 2018 4:31 PM
Gettin yours? (by Don [MO]) Jun 15, 2018 4:48 PM
Gettin yours? (by Chris [CT]) Jun 17, 2018 12:06 PM
Gettin yours? (by BRAD 20,000 [IN]) Posted on: Jun 14, 2018 7:43 PM
Message:
Today’s news:
In the US “42 percent of investable capital is held by people with more than $5 million in assets”
This includes many posters here.
It also said new millionaires are coming on faster.
I hope that includes YOU!
If not are you ready to rock!?
BRAD
--68.50.xxx.xxx |
Gettin yours? (by cjo'h [CT]) Posted on: Jun 14, 2018 11:42 PM
Message:
Not on my lifetime...........charlie.........................................will have enough............................ --174.199.x.xxx |
Gettin yours? (by Hoosier [IN]) Posted on: Jun 15, 2018 3:52 AM
Message:
For millenials, a million will likely not be enough...but it's a good start. For those retiring now, $1M is a reasonable living standard especially if you have some social security or other funds such as pension or part time job.
The amount of assets you have is only one part of the equation. The other is how much you spend. A modest lifestyle of $40,000/year can make some people very happy, but others need $90,000 just to "scrape by". --99.92.xxx.xxx |
Gettin yours? (by LindaJ [NY]) Posted on: Jun 15, 2018 4:17 AM
Message:
Although I love adding my assets to get the total. More is not better in this case (YMMV). As Hoosier said, it has a lot to do with spending. Most people like the government have a spending problem, not an income problem. I am a modest spender, happy to keep something for years and wear it out. (vehicle, electronics, even clothes) I have enough to splurge occasionally, which is probably what most people consider a necessity. But I am happy, not stressed, and enjoy my life. --108.44.xx.xxx |
Gettin yours? (by Smokowna [MD]) Posted on: Jun 15, 2018 4:50 AM
Message:
Spending problem, not an income problem. I like the way you stated that LindaJ --96.241.xxx.xx |
Gettin yours? (by WMH [NC]) Posted on: Jun 15, 2018 4:51 AM
Message:
Our health insurance costs $36k per year for the two of us (including premiums and deductible) so a $40k income is not going to cut it. --75.166.xxx.xxx |
Gettin yours? (by S i d [MO]) Posted on: Jun 15, 2018 4:55 AM
Message:
Good "thought material" Brad!
I'm not at the $5 million point (yet), but moving closer every year.
"$1 million isn't what it used to be"....ok, granted. But as Hoosier said it's "enough" for someone who watches their expenses and has few reoccurring obligations other than basic living and reasonable fun.
To me, the accumulation of wealth over time makes sense. I don't think we've done anything particularly amazing. Lived on less than we've made. Completely avoided consumer debt. Only thing we owe on now are rent houses; we paid off our personal residence this month (yay!). What used to be a monthly mortgage payment is now hitting our bottom line. We've invested in real estate and mutual funds in tax advantaged accounts. Barring a disaster the likes of which ruins the nation, we're "okay" now as is.
We ran the numbers not too long ago...I COULD drop my day job now if desired (or they could drop me) and we'd be able to live off rentals and investments alone. But we have other goals, and staying with my J.O.B. makes sense for now, plus I enjoy it enough and the work environment (my home office) is great. I get to see my family and have lunch with them every day, and the coffee is superb! Only thing I wouldn't miss are the late night pages...such is life with IT. The day will come when that is no longer necessary.
So am I "gettin' mine?" Well, in a way I've already GOT mine. Enough to live on and be okay: our daily bread is provided and more besides. The rest is about dreaming...what can we do and give with the blessings we've been entrusted to manage? Whose life can we help change? What projects will we take on since we're not focused on scraping by? The sky is the limit!
--173.19.x.xxx |
Gettin yours? (by Sisco [MO]) Posted on: Jun 15, 2018 5:21 AM
Message:
A take away from this article is that a lot of people with assets up to the 1-5 million $$ range have no free cash to invest.
--72.172.xxx.xx |
Gettin yours? (by Kurt [MI]) Posted on: Jun 15, 2018 6:42 AM
Message:
I think it is always important to add to the whole picture too (though this is preaching to the choir on this forum):
"The fact that the wealth held by millionaires as a percentage of total wealth is increasing does not mean that the poor are getting poorer,” Anna Zakrzewski, the report’s lead author, said in an emailed statement. “What it means is that everyone is getting richer. Specifically, we believe that the rich are getting richer faster.”
Of course that that all makes perfect sense since from an investment stand point the same rate of return will make $1 into $2 as quickly as it makes $1,000,000 into $2,000,000. --68.61.xx.xxx |
Gettin yours? (by Landlord ofthe Flies [TX]) Posted on: Jun 15, 2018 4:31 PM
Message:
Like "catch and release fishing," I'm trying to introduce my wife to catch and release shopping. She can buy whatever she wants as long as she returns it the next day. She still gets the thrill of the hunt.
So far I haven't been persuasive enough to convince her. --108.69.xxx.xxx |
Gettin yours? (by Don [MO]) Posted on: Jun 15, 2018 4:48 PM
Message:
Total asset, great. but cash flow and all important,after tax cash flow. I spent some time as a cost account, key items were two categories, fixed and variable cost. Fixed being property taxes, property insurance and some reasonable amount for property upkeep plus various other cost, Always shop for the best price and protest every property tax assessment. (I have no debt nor had any for decades). Variable cost are what you Must control. Again, after tax cash flow. I make it very important to keep up with taxes knowledge myself. Yes, a trip now and again to attend a tax class. Income side, market smart and always compare your property rental rates to your market area. Below market, raise your rents! Never seen rent increases as I have the last 3 years. Wow, Great for us landlords. Yes, just bought a number of properties with all cash. Again, cash is KING, my two cents worth! --108.66.xx.xx |
Gettin yours? (by Chris [CT]) Posted on: Jun 17, 2018 12:06 PM
Message:
I'm not at $5m yet maybe in a few years.
--24.45.xxx.xxx |
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