Author Topic: Does it ever just hit you?  (Read 11099 times)

Laura33

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Re: Does it ever just hit you?
« Reply #50 on: June 12, 2017, 06:40:17 AM »
Just about every day.    Where I am now is so far from what I conceived of as a kid that I still sometimes want to pinch myself.

It's funny, because old habits die hard, though.  Yesterday I had to take the kids to Kohl's, and between two full summer wardrobes (both kids having outgrown everything from last year) and picking up a bunch of much-needed workout gear for myself (sports bras are NOT cheap!), I ended up dropping $600 -- and that was with a 30% off coupon!  Total panic -- wtf?  How did I do that?  What was I thinking?  Kicking myself for shopping while stressed and not checking prices more closely or keeping better track of how many shorts they actually needed, and couldn't I have made do with only two sports bras instead of three?

Then I remembered: it's irrelevant.  A blip.  Being FI means I don't have to always execute everything perfectly, I can be human and rushed and spend too much every once in a while and still be just fine.
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Re: Does it ever just hit you?
« Reply #51 on: June 28, 2017, 02:50:19 AM »
I had one of these moments last week. I was talking with a co-worker who I only see every couple years. She ended up telling me she was 1 paycheck away from killing credit card debt she'd spent 10 years slowly racking up.

The differences in our situation suddenly seemed astonishing and ludricrious. Same age, same career, same salary. She's been working here 12 years, and I've been working 10 years. We each made billions of small decisions about money. Now here we sit; me with a network of 425k, and her with essentially zero.

I congratulated her on getting out of debt. But I also felt a moment of awe for how small decisions, repeated consistently can create such a gap between seemingly similar people.

It is pretty amazing.  The end results of two different sets of choices.   

I had a similar experience about a month ago. An attorney with the same years of experience and with same bi-lingual talent as me casually said she 1) owed money to IRS for failing to save enough for her self-employment taxes, 2) was surprised at the interest rate on her credit cards being 21% and 3) still owed over $150,000 in student loan debt. As I mentioned above, I have no debt and have significant savings (thank you MMM).

For some context, we met at a summer clerkship at the "big firm" that is the most competetive legal job to obtain in a multi-state region (which I promptly left because I thought it was non-sense, but that is another story).

She is not dumb and I really like her personally, but man those little choices make a big difference.

Same. I spoke to a colleague who is on the same money as me (A$250k+). We are both on rolling three year contracts and it looks like his may not be extended. With two kids below 2, his wife now started a minimum-wage night shift job so they can save enough to pay for moving back in with his parents in a different city.

I just don't know how this can possibly happen.

It's as if him and I live in different universes. I started thinking maybe his wife was smuggled in by human traffickers that demand crazy money? It just seems impossible.

Linda_Norway

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Re: Does it ever just hit you?
« Reply #52 on: June 28, 2017, 08:29:58 AM »
I had one of these moments last week. I was talking with a co-worker who I only see every couple years. She ended up telling me she was 1 paycheck away from killing credit card debt she'd spent 10 years slowly racking up.

The differences in our situation suddenly seemed astonishing and ludricrious. Same age, same career, same salary. She's been working here 12 years, and I've been working 10 years. We each made billions of small decisions about money. Now here we sit; me with a network of 425k, and her with essentially zero.

I congratulated her on getting out of debt. But I also felt a moment of awe for how small decisions, repeated consistently can create such a gap between seemingly similar people.

It is pretty amazing.  The end results of two different sets of choices.   

I had a similar experience about a month ago. An attorney with the same years of experience and with same bi-lingual talent as me casually said she 1) owed money to IRS for failing to save enough for her self-employment taxes, 2) was surprised at the interest rate on her credit cards being 21% and 3) still owed over $150,000 in student loan debt. As I mentioned above, I have no debt and have significant savings (thank you MMM).

For some context, we met at a summer clerkship at the "big firm" that is the most competetive legal job to obtain in a multi-state region (which I promptly left because I thought it was non-sense, but that is another story).

She is not dumb and I really like her personally, but man those little choices make a big difference.

Same. I spoke to a colleague who is on the same money as me (A$250k+). We are both on rolling three year contracts and it looks like his may not be extended. With two kids below 2, his wife now started a minimum-wage night shift job so they can save enough to pay for moving back in with his parents in a different city.

I just don't know how this can possibly happen.

It's as if him and I live in different universes. I started thinking maybe his wife was smuggled in by human traffickers that demand crazy money? It just seems impossible.

It is exactly that. The sum of all small an major choices we make in life.
Every year, when we get paid out a tax free month salary in June, the newspapers have articles suggesting what you could spend it on.
For me it is a ridiculous thought to spend it all. As the amount was twice as high as what I usually get, I just bought a LOT of index fund for the money and made sure I have some left for the cheap, sleeping-in-tent holiday. But for other people it is perfectly normal to live a very different lifestyle, buying luxury cars, expensive handbags, buying expensive groceries without thinking, going out for dinner often, sleeping in hotels during the holiday. And the small daily choices. This just confirms that everyone can become pretty rich just by saving a lot and making different choices.

2Birds1Stone

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Re: Does it ever just hit you?
« Reply #53 on: June 28, 2017, 08:43:29 AM »
I have these epiphanies every so often.

A recent one was when my investable assets crossed the $300k mark.

With a 4% withdrawal rate, that can now cover my rent/utilities, cell phone, car insurance, motorcycle insurance, renters insurance, gym membership, and still leave me with $200/month for food and fuel.

It was a profound feeling at work, I suddenly shed a lot of stress I had. All of the sudden I knew that if I wanted to walk out I can get a part time job doing pretty much anything to be more than comfortable until my situation improved.
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catccc

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Re: Does it ever just hit you?
« Reply #54 on: June 28, 2017, 09:54:22 AM »
Like many people here, daily, or even multiple times a day.  I check my personal capital app frequently.  If a friend tells me they are in a pickle because their car just broke down and they don't have $ to replace it, it hits me.  I actually feel a little guilty sometimes.  But mostly I'm just grateful!

Unique User

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Re: Does it ever just hit you?
« Reply #55 on: June 29, 2017, 07:34:00 AM »
Another thing I think about is how bad things could really get if I ever fell off this wagon.

Do you ever think "hey, I could write a check for a couple Ferraris"?

Whoa.  For some reason, that one really hit me.  I still fret about money and the long-term so I'm not always super-aware that yeah, technically we are doing pretty well.

This is me.  My teen will be a junior this fall so the college unknown is hard sometimes.  I just got word that my tiny division will be sold and benefits will take a dive with the new owner.  I'm fretting about it, but there could be worse things, especially since I'm often amazed at how well I'm paid. 

arebelspy

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Re: Does it ever just hit you?
« Reply #56 on: September 12, 2017, 10:25:06 PM »
Yeah. It's pretty stupid (in a good way) that this all works.

It boggles the mind, at times.
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boarder42

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Re: Does it ever just hit you?
« Reply #57 on: September 13, 2017, 06:24:05 AM »
Yeah. It's pretty stupid (in a good way) that this all works.

It boggles the mind, at times.

well and now you're probably making more with the tradelines than you expected to need in FIRE.  I'd assume.
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caracarn

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Re: Does it ever just hit you?
« Reply #58 on: September 13, 2017, 06:46:24 AM »
Did not see this thread when it originally appeared, but I echo the sentiments of many especially being grateful for where we are at, especially given all the financial turmoil we've had, and also amazed to get paid so well for what I do.  The latter has almost always been the situation, but the former is new, post-divorce and realizing now seven years out that even after parting with over half my net worth that I'm now further ahead than where I was while dealing with additional unexpected hurdles that drained tens of thousands of dollars. 

The car comparison was a creative (and fun) way to think about.  I also regularly find myself drawn to those "what is the average retirement account" articles.  It's driven by the juvenile tendency all boys have to compare length, just measuring a different stick.

Mgmny

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Re: Does it ever just hit you?
« Reply #59 on: September 13, 2017, 06:53:03 AM »
Yeah. It's pretty stupid (in a good way) that this all works.

It boggles the mind, at times.

well and now you're probably making more with the tradelines than you expected to need in FIRE.  I'd assume.

That sub forum went away, and i was never contacted for my cards. :(

Mgmny

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Re: Does it ever just hit you?
« Reply #60 on: September 13, 2017, 06:59:03 AM »
My favorite thing that hits me is knowing that at 26 years old, I have enough in my 'stash today that if i stopped contributing another dollar for the next 40 years, and retire at the standard 67 years old, I will have about 2 million (today's dollars), which gives me a SWR of $80,000 a year FOREVER. THAT is really cool and boggles my mind all the time. Like, I don't have to safe another penny for my entire life, and by the time i'm the age I'm "supposed to retire" I'll have nearly $4mil (2057 dollars). Woah!

quick edit: Obviously the above is not the plan! I'm hopeful my fire date is closer to 15 years, not 40!
« Last Edit: September 13, 2017, 07:00:45 AM by Mgmny »

Milkshake

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Re: Does it ever just hit you?
« Reply #61 on: September 13, 2017, 08:11:32 AM »
Yeah. It's pretty stupid (in a good way) that this all works.

It boggles the mind, at times.

well and now you're probably making more with the tradelines than you expected to need in FIRE.  I'd assume.

That sub forum went away, and i was never contacted for my cards. :(

Yes! Not trying to derail this thread, but what ever happened to that? I was really excited...

pachnik

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Re: Does it ever just hit you?
« Reply #62 on: September 13, 2017, 08:26:53 AM »
My favorite thing that hits me is knowing that at 26 years old, I have enough in my 'stash today that if i stopped contributing another dollar for the next 40 years, and retire at the standard 67 years old, I will have about 2 million (today's dollars), which gives me a SWR of $80,000 a year FOREVER. THAT is really cool and boggles my mind all the time. Like, I don't have to safe another penny for my entire life, and by the time i'm the age I'm "supposed to retire" I'll have nearly $4mil (2057 dollars). Woah!

quick edit: Obviously the above is not the plan! I'm hopeful my fire date is closer to 15 years, not 40!

That is really amazing.  Congratulations!  Wow, I am really impressed. 

I had a talk about saving with my nephew who got his first job a few months ago.   I told him that I am not going to go giving him unasked-for advice but that there was one thing I wanted to talk to him about.   I suggested he save 25% or so of his income from the beginning and that he'd never regret that.  Talked a bit about how I regretted not saving more when I was younger. 

I will probably follow up in a few months and chat with him about this again.  And then I am going to have to let it go.  Okay, but when he graduates high school, I am giving him a personal finance book. 

Mgmny

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Re: Does it ever just hit you?
« Reply #63 on: September 13, 2017, 12:19:07 PM »
My favorite thing that hits me is knowing that at 26 years old, I have enough in my 'stash today that if i stopped contributing another dollar for the next 40 years, and retire at the standard 67 years old, I will have about 2 million (today's dollars), which gives me a SWR of $80,000 a year FOREVER. THAT is really cool and boggles my mind all the time. Like, I don't have to safe another penny for my entire life, and by the time i'm the age I'm "supposed to retire" I'll have nearly $4mil (2057 dollars). Woah!

quick edit: Obviously the above is not the plan! I'm hopeful my fire date is closer to 15 years, not 40!

That is really amazing.  Congratulations!  Wow, I am really impressed. 

I had a talk about saving with my nephew who got his first job a few months ago.   I told him that I am not going to go giving him unasked-for advice but that there was one thing I wanted to talk to him about.   I suggested he save 25% or so of his income from the beginning and that he'd never regret that.  Talked a bit about how I regretted not saving more when I was younger. 

I will probably follow up in a few months and chat with him about this again.  And then I am going to have to let it go.  Okay, but when he graduates high school, I am giving him a personal finance book.

Yeah! Assuming your nephew has 50 years until retirement, for every dollar he saves, he can basally trade it in for $20 at retirement (if he retires in 50 years). $20!!! If he saves even $10 and invests it, it will be worth $200 to him in today's dollars in 50 years. Compound interest is so incredible. If he can save $1k, that's $20k in retirement!

So, I have a net worth of just shy of $200k, which in 40 years will be $2mil (5.8% return) without even touching it or doing a thing. So cool and so crazy

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Re: Does it ever just hit you?
« Reply #64 on: September 13, 2017, 12:40:06 PM »
all the time.  Sometimes I feel like shit when out looking at people who work a lot harder than I do (manual labor and the like), ending up with peanuts.

What is basically a flat/up day in the market still makes me more than the average worker in a week.

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Re: Does it ever just hit you?
« Reply #65 on: September 13, 2017, 12:59:10 PM »
all the time.  Sometimes I feel like shit when out looking at people who work a lot harder than I do (manual labor and the like), ending up with peanuts.

What is basically a flat/up day in the market still makes me more than the average worker in a week.

Just curious - how does a flat day in the market make you money?

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Re: Does it ever just hit you?
« Reply #66 on: September 13, 2017, 01:07:42 PM »
all the time.  Sometimes I feel like shit when out looking at people who work a lot harder than I do (manual labor and the like), ending up with peanuts.

What is basically a flat/up day in the market still makes me more than the average worker in a week.

Just curious - how does a flat day in the market make you money?

Dividends (prorated for that timeframe).
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SuperSecretName

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Re: Does it ever just hit you?
« Reply #67 on: September 13, 2017, 01:15:26 PM »
a bit of an exaggeration.  even a .1% rise in the market is more than most people make in a day and I did nothing.

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Re: Does it ever just hit you?
« Reply #68 on: September 13, 2017, 01:29:57 PM »
I'm betting this is a low bar for a lot of you here, but I feel this way sometimes when I remember I own my car. I bought it in cash so it's not the feeling of having paid it off exactly, more the idea that I can personally own something that large and powerful. I'm only 2.5 years out of college dorms, so even owning my own kitchen table is still kind of exciting.

caracarn

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Re: Does it ever just hit you?
« Reply #69 on: September 13, 2017, 02:03:14 PM »
Another thing that I have trouble getting through to people is that what you see does not always indicate what you get.

So many people see a guy in a flashy car, or nice clothes or great house and think "Wow!  They have got it together."  But if they have all those things through massive debt and someone else has something more modest but no debt, whose really richer?  This community understands that difference, but I think back to similar times straight out of school when I was working to afford something and my wife at the time would grumble about why we could not be more like our neighbors who had BMWs and swimming pools.  After all I made above average income so what gives?  I just explained over and over, that yeah you see that car in their driveway but they may have a massive payment on it, while we've got our Ford minivan which works just fine for the kids and is paid for.

Lis

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Re: Does it ever just hit you?
« Reply #70 on: September 13, 2017, 02:11:48 PM »
Yea I had this happen the other day when a friend of mine got hit with an unexpected $140 expense and it ruined their whole month.  I've been there, I don't think about those days often anymore, but that brought it back home and I looked at where I am with fresh eyes again and really appreciated it.

I had an unexpected $600 expense last month, and while I was definitely not pleased, I was and am fine. I had the money on hand and am voluntarily tightening the belt even more this month instead of reaching into any emergency fund (where I have more money on hand in case I need it). I have a plan to pay myself back and basically I'll be back on track in 3 pay checks. I'm not gonna say I was happy paying my credit card bill that month, but I had the money to do so without it really affecting my day to day life ("oh noooo I must eat out less next month! The horrors!")

partgypsy

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Re: Does it ever just hit you?
« Reply #71 on: September 13, 2017, 02:32:39 PM »
I'm a newbie at all this, so I'm not where you all are at. I do remember when I was younger, thinking if I had a quarter million dollars, I would feel "rich". Our joint household net worth is 400-450K (my half 200-225K) which I know at one point would have made me feel financially secure. However having 2 kids and going through a divorce, I feel anything but secure at this point.
 
I do know I will survive, and as I know many people my age or older are not as well off, I feel grateful I have a job, a roof over my head, and feel motivated to do even better financially. 
« Last Edit: September 13, 2017, 02:39:32 PM by partgypsy »

MrsPete

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Re: Does it ever just hit you?
« Reply #72 on: September 13, 2017, 02:46:15 PM »
"Holy sh!t, I have no debt and over $320,000 in savings!".
Yeah, having grown up in a very poor family, I think that on a regular basis.  18-year old me would never have believed it. 

Yeah. I'm reading a book right now about the troubles facing low-to-middle income families in America. They actually seem very difficult. My heart was breaking, I was thinking about ways to improve the situation, and then... it hit me. I don't deal with those problems myself! Now I go back-and-forth between guilt and pride.
Having grown up poor, I don't need to read the book.  Yes, I frequently think about how much easier my life is now:  I have a functioning car, and if it breaks down, I can get it fixed.  I can have whatever I want for dinner tonight, and if something goes bad, I don't have to eat it anyway.  If I'm sick, I can go to the doctor -- I don't have to wait for payday or choose between my prescription or the electric bill. 

Living that way is stressful, and it weighs on a person's spirit.  Sometimes you just feel like you just can't keep it up -- but what choice do you have? 

I agree.  a good reminder to practice gratitude every day.  thanks for posting it.
Definitely.  I've worked very hard to break out of the cycle of poverty, but -- truthfully -- I caught some breaks along the way, and not everyone is so fortunate.  I am proud of what I've accomplished, but also grateful for the opportunities I've had.

nouveauRiche

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Re: Does it ever just hit you?
« Reply #73 on: September 13, 2017, 04:53:06 PM »
not really b/c i was always pretty frugal this just gave us a bit of an extra push.  i check my numbers daily and watch them grow daily.

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JAYSLOL

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Re: Does it ever just hit you?
« Reply #74 on: September 13, 2017, 09:02:24 PM »
It always hits me when I'm doing online banking and see that I got another paycheck and didn't even realize it. I'm not desperate for each pay day so sometimes I'll accidentally let a couple pile up in my checking account before transferring them. It's crazy!!! I feel so lucky. It's such a shame that so many people live with avoidable money stress.

I had a coworker with some crazy money troubles (99% self-inflicted), one day he asked me what the exact dates were of the pay period in the upcoming paycheck so that he would know exactly how many days he was getting paid for.  I told him i couldn't remember what the start and end days were anymore or how many days were included, although i do know which days we get the checks.  He replied "That must be nice!"

Yes.  Yes it is.  You should try it sometime.

startingsmall

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Re: Does it ever just hit you?
« Reply #75 on: September 14, 2017, 08:05:50 PM »
I had a coworker with some crazy money troubles (99% self-inflicted), one day he asked me what the exact dates were of the pay period in the upcoming paycheck so that he would know exactly how many days he was getting paid for.  I told him i couldn't remember what the start and end days were anymore or how many days were included, although i do know which days we get the checks.  He replied "That must be nice!"

Yes.  Yes it is.  You should try it sometime.

Every now and then, I'll find myself saying (out loud) "oh, we get paid this week? awesome!" My coworkers never fail to look shocked and amazed. I wish I could learn to better contain my surprise when I learn it's payday, but it just doesn't ever really register as something worth keeping track of. The money appears in my account every two weeks and it's always there when I need it.... so why would I worry about exactly which day it goes in?

teen persuasion

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Re: Does it ever just hit you?
« Reply #76 on: September 15, 2017, 08:19:45 AM »
I had a coworker with some crazy money troubles (99% self-inflicted), one day he asked me what the exact dates were of the pay period in the upcoming paycheck so that he would know exactly how many days he was getting paid for.  I told him i couldn't remember what the start and end days were anymore or how many days were included, although i do know which days we get the checks.  He replied "That must be nice!"

Yes.  Yes it is.  You should try it sometime.

Every now and then, I'll find myself saying (out loud) "oh, we get paid this week? awesome!" My coworkers never fail to look shocked and amazed. I wish I could learn to better contain my surprise when I learn it's payday, but it just doesn't ever really register as something worth keeping track of. The money appears in my account every two weeks and it's always there when I need it.... so why would I worry about exactly which day it goes in?

Yep, that's the way I view our accounts, too.  DH happened to be looking at the monthly statement, and said, "Wait, I took out cash to buy the truck last month, and it made essentially no difference to the balance?  Starting and ending balances are only $1k apart."  Umm, yeah?  Maybe there was an extra paycheck in the statement?  Does it make a difference? - our expenses are lumpy on an annual basis, this month we'll probably spend 4x a "usual" month's expenses, due to school tax + oil prebuy + water heater replacement.  Eh, there's always enough available.

BTDretire

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Re: Does it ever just hit you?
« Reply #77 on: September 15, 2017, 12:05:00 PM »
As a former spendypants that had huge debt, fancy cars a ridiculous lifestyle and no savings, sometimes it just hits me (like today):

"Holy sh!t, I have no debt and over $320,000 in savings!".

Crazy.
Yep, it's crazy!
  Here's what gets my attention.
I generally recalculate our NW about every three months,
1st quarter up $64k, 2nd quarter up $40k, 3rd quarter up $35k.
That totals to almost twice our income!
 Now if I could just get my two kids to graduate from college,
we could really save!  :-) That's just a a little sarcasm there.

2Birds1Stone

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Re: Does it ever just hit you?
« Reply #78 on: September 15, 2017, 04:01:40 PM »
Another epiphany today.

$258

That is how much I will gross per day after 10/2....not just on work days, but 365 days a year in my new role.
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meghan88

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Re: Does it ever just hit you?
« Reply #79 on: September 15, 2017, 05:17:36 PM »
I would love it if I could appreciate it more.  I'm too obsessed with always optimizing and doing better.  We could probably FIRE now but we are aiming for another 2.5 years to provide a better cushion.

Also, our yearly expenses will go up in retirement, not down, because we have no work-related expenses now (no fancy wardrobes or commuting costs), have free phones and devices, free health/dental insurance, loads of perks etc., and we will want to travel more.

Wondering if anyone else is in the same boat?

Accidental Miser

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Re: Does it ever just hit you?
« Reply #80 on: September 15, 2017, 08:16:23 PM »
"Holy sh!t, I have no debt and over $320,000 in savings!".
Yeah, having grown up in a very poor family, I think that on a regular basis.  18-year old me would never have believed it. 

Yeah. I'm reading a book right now about the troubles facing low-to-middle income families in America. They actually seem very difficult. My heart was breaking, I was thinking about ways to improve the situation, and then... it hit me. I don't deal with those problems myself! Now I go back-and-forth between guilt and pride.
Having grown up poor, I don't need to read the book.  Yes, I frequently think about how much easier my life is now:  I have a functioning car, and if it breaks down, I can get it fixed.  I can have whatever I want for dinner tonight, and if something goes bad, I don't have to eat it anyway.  If I'm sick, I can go to the doctor -- I don't have to wait for payday or choose between my prescription or the electric bill. 

Living that way is stressful, and it weighs on a person's spirit.  Sometimes you just feel like you just can't keep it up -- but what choice do you have? 

I agree.  a good reminder to practice gratitude every day.  thanks for posting it.
Definitely.  I've worked very hard to break out of the cycle of poverty, but -- truthfully -- I caught some breaks along the way, and not everyone is so fortunate.  I am proud of what I've accomplished, but also grateful for the opportunities I've had.

This also describes me fairly well.  We were well enough off when I was a teenager but after joining the Navy, marrying my HS sweetheart and having a baby (and another and another) things were pretty tough.  We also experienced the joy of running out of money before we ran out of week for several years.  It makes us appreciate having freedom and options now. 

MMM "arrived" in our lives just as we were accelerating our income.  Seven years ago, we had a negative net worth due to an unfortunate job loss which necessitated an unexpected sale of a house we had just purchased into the worst RE market in a long time (for that area).  We have saved diligently and tightened our already frugal ways.  I am pleased to say that we now have a NW which is rapidly approaching 1M.  I'm almost 50 and intend to retire on January 2 of 2022 (the year in which I turn 55).  I owe MMM (and this forum) a great debt of gratitude for the face punches and soul searches. 

arebelspy

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Re: Does it ever just hit you?
« Reply #81 on: September 16, 2017, 10:27:41 AM »
I would love it if I could appreciate it more.  I'm too obsessed with always optimizing and doing better.  We could probably FIRE now but we are aiming for another 2.5 years to provide a better cushion.

Also, our yearly expenses will go up in retirement, not down, because we have no work-related expenses now (no fancy wardrobes or commuting costs), have free phones and devices, free health/dental insurance, loads of perks etc., and we will want to travel more.

Wondering if anyone else is in the same boat?
Yes to the second paragraph, no to the first.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

Nederstash

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Re: Does it ever just hit you?
« Reply #82 on: September 17, 2017, 11:09:45 AM »
I get weird looks at work because I get excited when council + real estate taxes come in in February... because that's what I save my end-of-year bonus for. That and prepaying a year's worth of health insurance. Honestly makes me giddy, not even kidding.

Dr.Jeckyl

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Re: Does it ever just hit you?
« Reply #83 on: September 17, 2017, 11:49:54 AM »
Another thing I think about is how bad things could really get if I ever fell off this wagon.

Do you ever think "hey, I could write a check for a couple Ferraris"?

No, but now I am. :)

FireLane

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Re: Does it ever just hit you?
« Reply #84 on: September 17, 2017, 06:43:27 PM »
The time it really hits me is when I read a news story about how much debt Americans have or how little the average American has saved for retirement. That's when it sinks in what an absurdly comfortable and fortunate position I'm in, compared to most of the herd. How can anyone stand to live knowing they're just one missed paycheck away from disaster?

TempusFugit

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Re: Does it ever just hit you?
« Reply #85 on: September 17, 2017, 07:07:03 PM »
Earlier this week my car (10 yrs old) overheated dramatically while I was driving onto my office campus.  First thought was "oh crap, what fresh hell is this?"    Second though, was, just work the problem and find a shop nearby to get it checked out, see if I can do a quick patch fix to get it there.  Then it became a bigger issue that might have to involve a tow truck, etc.   When I eventually got a diagnosis and had a >$1K repair on my hands, I just reminded myself that it was nothing more than an inconvenience for me.  While my monthly numbers were going to suck because of this unexpected expense, that's all it really meant.  A number on a spreadsheet.  It made no difference to me in actual real-world life.   But I know so many people for whom this would be a big deal.  People who would not have $1K of expense, but $1K financed at 18% for who-knows-how-long-until-its-paid with all the low level stress that goes along. 

I remember those days, thankfully long ago, and I'm still grateful for the combination of luck and planning that let me escape them.

Linda_Norway

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Re: Does it ever just hit you?
« Reply #86 on: September 18, 2017, 06:03:15 AM »
Earlier this week my car (10 yrs old) overheated dramatically while I was driving onto my office campus.  First thought was "oh crap, what fresh hell is this?"    Second though, was, just work the problem and find a shop nearby to get it checked out, see if I can do a quick patch fix to get it there.  Then it became a bigger issue that might have to involve a tow truck, etc.   When I eventually got a diagnosis and had a >$1K repair on my hands, I just reminded myself that it was nothing more than an inconvenience for me.  While my monthly numbers were going to suck because of this unexpected expense, that's all it really meant.  A number on a spreadsheet.  It made no difference to me in actual real-world life.   But I know so many people for whom this would be a big deal.  People who would not have $1K of expense, but $1K financed at 18% for who-knows-how-long-until-its-paid with all the low level stress that goes along. 

I remember those days, thankfully long ago, and I'm still grateful for the combination of luck and planning that let me escape them.

Sounds familiar. I recently had a flat tire and found it when it was totally flat. I had been driving on it for too long and the tire was damaged. With a 4x4 Subaru, that means 4 new tires. The tires were only 1 year old. Yes, it hurts a lot mentally to have to spend so much money. But in practice we won't even notice it. That is a very fortunate situation.

StarBright

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Re: Does it ever just hit you?
« Reply #87 on: September 18, 2017, 07:00:14 AM »

I had a coworker with some crazy money troubles (99% self-inflicted), one day he asked me what the exact dates were of the pay period in the upcoming paycheck so that he would know exactly how many days he was getting paid for.  I told him i couldn't remember what the start and end days were anymore or how many days were included, although i do know which days we get the checks.  He replied "That must be nice!"

Yes.  Yes it is.  You should try it sometime.

Every now and then, I'll find myself saying (out loud) "oh, we get paid this week? awesome!" My coworkers never fail to look shocked and amazed. I wish I could learn to better contain my surprise when I learn it's payday, but it just doesn't ever really register as something worth keeping track of. The money appears in my account every two weeks and it's always there when I need it.... so why would I worry about exactly which day it goes in?


My boss once told me that was how he knew I didn't "need" a raise - because I never knew when it was payday. There was a several year period where I didn't clock a raise while many of my needier coworkers did and I now realize it was because boss knew I wasn't starving. So don't let your boss hear you say that :)

Raenia

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Re: Does it ever just hit you?
« Reply #88 on: September 18, 2017, 07:03:47 AM »

I had a coworker with some crazy money troubles (99% self-inflicted), one day he asked me what the exact dates were of the pay period in the upcoming paycheck so that he would know exactly how many days he was getting paid for.  I told him i couldn't remember what the start and end days were anymore or how many days were included, although i do know which days we get the checks.  He replied "That must be nice!"

Yes.  Yes it is.  You should try it sometime.

Every now and then, I'll find myself saying (out loud) "oh, we get paid this week? awesome!" My coworkers never fail to look shocked and amazed. I wish I could learn to better contain my surprise when I learn it's payday, but it just doesn't ever really register as something worth keeping track of. The money appears in my account every two weeks and it's always there when I need it.... so why would I worry about exactly which day it goes in?


My boss once told me that was how he knew I didn't "need" a raise - because I never knew when it was payday. There was a several year period where I didn't clock a raise while many of my needier coworkers did and I now realize it was because boss knew I wasn't starving. So don't let your boss hear you say that :)

The main benefit of getting paid weekly is never forgetting it's payday.  On the other hand, my coworker just reminded me that it's a 5-Friday month, so we get an "extra" paycheck.  Doesn't change anything for me - except this month's saving's rate will look extra nice :)

RyanAtTanagra

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Re: Does it ever just hit you?
« Reply #89 on: September 18, 2017, 10:35:02 AM »
When I eventually got a diagnosis and had a >$1K repair on my hands, I just reminded myself that it was nothing more than an inconvenience for me.  While my monthly numbers were going to suck because of this unexpected expense, that's all it really meant.  A number on a spreadsheet.  It made no difference to me in actual real-world life.

I never thought about it that way but you're absolutely right.  An unexpected expense now just makes me sad because of how it effects my spreadsheet numbers.  Wow.

startingsmall

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Re: Does it ever just hit you?
« Reply #90 on: September 18, 2017, 11:39:01 AM »

I had a coworker with some crazy money troubles (99% self-inflicted), one day he asked me what the exact dates were of the pay period in the upcoming paycheck so that he would know exactly how many days he was getting paid for.  I told him i couldn't remember what the start and end days were anymore or how many days were included, although i do know which days we get the checks.  He replied "That must be nice!"

Yes.  Yes it is.  You should try it sometime.

Every now and then, I'll find myself saying (out loud) "oh, we get paid this week? awesome!" My coworkers never fail to look shocked and amazed. I wish I could learn to better contain my surprise when I learn it's payday, but it just doesn't ever really register as something worth keeping track of. The money appears in my account every two weeks and it's always there when I need it.... so why would I worry about exactly which day it goes in?


My boss once told me that was how he knew I didn't "need" a raise - because I never knew when it was payday. There was a several year period where I didn't clock a raise while many of my needier coworkers did and I now realize it was because boss knew I wasn't starving. So don't let your boss hear you say that :)

Good point, but no raises in my job. Base pay (which stays unchanged over time) plus production, so no worries for me!

BTDretire

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Re: Does it ever just hit you?
« Reply #91 on: September 18, 2017, 03:50:56 PM »

I had a coworker with some crazy money troubles (99% self-inflicted), one day he asked me what the exact dates were of the pay period in the upcoming paycheck so that he would know exactly how many days he was getting paid for.  I told him i couldn't remember what the start and end days were anymore or how many days were included, although i do know which days we get the checks.  He replied "That must be nice!"

Yes.  Yes it is.  You should try it sometime.

Every now and then, I'll find myself saying (out loud) "oh, we get paid this week? awesome!" My coworkers never fail to look shocked and amazed. I wish I could learn to better contain my surprise when I learn it's payday, but it just doesn't ever really register as something worth keeping track of. The money appears in my account every two weeks and it's always there when I need it.... so why would I worry about exactly which day it goes in?


My boss once told me that was how he knew I didn't "need" a raise - because I never knew when it was payday. There was a several year period where I didn't clock a raise while many of my needier coworkers did and I now realize it was because boss knew I wasn't starving. So don't let your boss hear you say that :)

   That sucks, absolutely wrong reason to give raises.
 Maybe you should have rented a big house and a Ferrari for a week!

dougules

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Re: Does it ever just hit you?
« Reply #92 on: September 18, 2017, 04:06:07 PM »
We hit two commas in June, and honestly it hasn't hit me.  Even typing it here, I don't think I actually grasp it. 

StarBright

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Re: Does it ever just hit you?
« Reply #93 on: September 18, 2017, 04:37:36 PM »

I had a coworker with some crazy money troubles (99% self-inflicted), one day he asked me what the exact dates were of the pay period in the upcoming paycheck so that he would know exactly how many days he was getting paid for.  I told him i couldn't remember what the start and end days were anymore or how many days were included, although i do know which days we get the checks.  He replied "That must be nice!"

Yes.  Yes it is.  You should try it sometime.

Every now and then, I'll find myself saying (out loud) "oh, we get paid this week? awesome!" My coworkers never fail to look shocked and amazed. I wish I could learn to better contain my surprise when I learn it's payday, but it just doesn't ever really register as something worth keeping track of. The money appears in my account every two weeks and it's always there when I need it.... so why would I worry about exactly which day it goes in?


My boss once told me that was how he knew I didn't "need" a raise - because I never knew when it was payday. There was a several year period where I didn't clock a raise while many of my needier coworkers did and I now realize it was because boss knew I wasn't starving. So don't let your boss hear you say that :)

   That sucks, absolutely wrong reason to give raises.
 Maybe you should have rented a big house and a Ferrari for a week!

Yeah:) Punished for being an ant in a world full of Grasshoppers. No worries here though: Even though I didn't have the raises at the time I'm much better off than the folks that needed them - specifically since we live within our means. My boss tries to be a nice guy so he'll throw raises or bonuses out when folks cry poor - especially if they have a family.

BDWW

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Re: Does it ever just hit you?
« Reply #94 on: September 18, 2017, 05:22:28 PM »
I really don't understand all you people who claim to not know when payday is.  I've got the paydays mapped out for the next two months. I schedule transfers for the days after paydays so I don't have too much money sitting around not working for me.

RyanAtTanagra

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Re: Does it ever just hit you?
« Reply #95 on: September 18, 2017, 11:51:57 PM »
I really don't understand all you people who claim to not know when payday is.  I've got the paydays mapped out for the next two months. I schedule transfers for the days after paydays so I don't have too much money sitting around not working for me.

I used to know, when it was the 1st and 15th of the month, but a few months ago we switched to every other friday.  Now I can't remember if we got paid last friday or this friday.  I also transfer money every payday, but I do it manually, and since the transferring of money is the only reason payday matters anymore, it's easy to lose track.

BTDretire

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Re: Does it ever just hit you?
« Reply #96 on: September 19, 2017, 05:32:22 AM »
My favorite thing that hits me is knowing that at 26 years old, I have enough in my 'stash today that if i stopped contributing another dollar for the next 40 years, and retire at the standard 67 years old, I will have about 2 million (today's dollars), which gives me a SWR of $80,000 a year FOREVER. THAT is really cool and boggles my mind all the time. Like, I don't have to safe another penny for my entire life, and by the time i'm the age I'm "supposed to retire" I'll have nearly $4mil (2057 dollars). Woah!

quick edit: Obviously the above is not the plan! I'm hopeful my fire date is closer to 15 years, not 40!

That is really amazing.  Congratulations!  Wow, I am really impressed. 

I had a talk about saving with my nephew who got his first job a few months ago.   I told him that I am not going to go giving him unasked-for advice but that there was one thing I wanted to talk to him about.   I suggested he save 25% or so of his income from the beginning and that he'd never regret that.  Talked a bit about how I regretted not saving more when I was younger. 

I will probably follow up in a few months and chat with him about this again.  And then I am going to have to let it go.  Okay, but when he graduates high school, I am giving him a personal finance book.

  I hope you emphasized the magic of "compound Interest", if not, it's worth showing him an online compound interest calculator and running some numbers. Then show him, with the calculator why starting early is a big deal.
I like this one.
http://www.moneychimp.com/calculator/compound_interest_calculator.htm

BTDretire

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Re: Does it ever just hit you?
« Reply #97 on: September 19, 2017, 05:45:36 AM »

I had a coworker with some crazy money troubles (99% self-inflicted), one day he asked me what the exact dates were of the pay period in the upcoming paycheck so that he would know exactly how many days he was getting paid for.  I told him i couldn't remember what the start and end days were anymore or how many days were included, although i do know which days we get the checks.  He replied "That must be nice!"

Yes.  Yes it is.  You should try it sometime.

Every now and then, I'll find myself saying (out loud) "oh, we get paid this week? awesome!" My coworkers never fail to look shocked and amazed. I wish I could learn to better contain my surprise when I learn it's payday, but it just doesn't ever really register as something worth keeping track of. The money appears in my account every two weeks and it's always there when I need it.... so why would I worry about exactly which day it goes in?


My boss once told me that was how he knew I didn't "need" a raise - because I never knew when it was payday. There was a several year period where I didn't clock a raise while many of my needier coworkers did and I now realize it was because boss knew I wasn't starving. So don't let your boss hear you say that :)

   That sucks, absolutely wrong reason to give raises.
 Maybe you should have rented a big house and a Ferrari for a week!

Yeah:) Punished for being an ant in a world full of Grasshoppers. No worries here though: Even though I didn't have the raises at the time I'm much better off than the folks that needed them - specifically since we live within our means. My boss tries to be a nice guy so he'll throw raises or bonuses out when folks cry poor - especially if they have a family.

 The best raise they could get would be lessons on "How to live below your means"
 Maybe he could pay you to teach the lessons!

BTDretire

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Re: Does it ever just hit you?
« Reply #98 on: September 19, 2017, 05:52:43 AM »
I really don't understand all you people who claim to not know when payday is.  I've got the paydays mapped out for the next two months. I schedule transfers for the days after paydays so I don't have too much money sitting around not working for me.

 We have a small business, never a real pay day, cause everyday is a payday. Reviewing the bank book, my wife seems to make it to the bank to deposit receipts every two to four weeks.
 Don't know why she has this aversion to banking, but it doesn't matter.
Because we are in the "Does it everjust hit you?" position.

MrsPete

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Re: Does it ever just hit you?
« Reply #99 on: September 19, 2017, 03:47:34 PM »
My boss once told me that was how he knew I didn't "need" a raise - because I never knew when it was payday. There was a several year period where I didn't clock a raise while many of my needier coworkers did and I now realize it was because boss knew I wasn't starving. So don't let your boss hear you say that :)
Yeah, it's true of co-workers too.  If you don't remember when payday comes (and I suspect that's most of us here), keep it to yourself.  Other people take it as bragging ... or maybe even outright lying.  Nothing good comes from letting people know you have money in the bank.