Author Topic: Feeling Like a Milliion Bucks!  (Read 9852 times)

Metta

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Feeling Like a Milliion Bucks!
« on: December 22, 2017, 08:05:48 AM »
A few days ago we had one of our favorite couples over to help us drink a bottle of very expensive champagne that we received free accompanied by my delicious potato pancakes. Months ago they had passed the million dollar mark and of course we passed that mark about two years ago. As we ate the salty, fatty potato pancakes washed down with an excellent bottle of champagne in my beautiful dining room, I said, “What could be better than a bunch of millionaires drinking their fancy champagne and eating delicious food in good company? Isn’t this wonderful?”

There was a bit of toasting of our happy fortune and then one of them said, “I really don’t feel like a millionaire. I feel poor.”

The conversation moved on from there about the usual things, but I am still thinking about how much our perceptions influence our happiness. I cannot imagine feeling poor in such circumstances, but clearly many people do. Or at least do not feel rich. We see it here in these forums quite often.

So I am wondering, what makes you feel rich? What makes you feel poor?

Good food, good company, and knowing that I am not a living hand-to-mouth makes me feel like a million bucks. Debt makes me feel poor.

What about you?
« Last Edit: December 22, 2017, 10:50:13 AM by Metta »

Duke03

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Re: Feeling Like a Milliion Bucks!
« Reply #1 on: December 22, 2017, 09:03:38 AM »
For some reason when I travel(which we do ALOT) it makes me feel rich.  People I work with always comment to me or ask about my travel plans as they know I always have another trip just around the corner.  I'm always taken back by some of my co workers that all make over 6 figures, but some haven't gone on a real vacation in over 10 years.  It just blows my mind.  I don't have the heart to tell them that the majority of my travel is all free due to airline miles, hotel points and credit card churning.....  Mater of fact next month will be the first trip I actually pay for in over 5 years.  Disney is a bunch of Nazis when it comes  to cashing in points for a free stay or tickets.  It's better to just pay cash.  At least we got 3x points for the Disney package charge and it helped me get another 80k point sign on bonus due to the added spend this month.  Not to mention our airfare was free. 

jrhampt

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Re: Feeling Like a Milliion Bucks!
« Reply #2 on: December 22, 2017, 09:04:47 AM »
Being able to go to the grocery store and buy whatever I want makes me feel rich.  Also, going to the dentist and not having to worry about how to pay for it.  Or the vet.

sol

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Re: Feeling Like a Milliion Bucks!
« Reply #3 on: December 22, 2017, 09:06:26 AM »
I broke our vacuum cleaner last month, by sucking up a shoelace.  Totally shattered the plastic housing around the brushes.

Unexpectedly replacing a household appliance would have caused me some financial heartburn in my previous life. Now?  I can buy a brand new vacuum for $100 at the store five minutes away and my budget won't even notice the difference.  I'm constantly amazed at how many of life's little problems just magically disappear when you're rich.

PhilB

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Re: Feeling Like a Milliion Bucks!
« Reply #4 on: December 22, 2017, 09:10:08 AM »
I broke our vacuum cleaner last month, by sucking up a shoelace.  Totally shattered the plastic housing around the brushes.

Unexpectedly replacing a household appliance would have caused me some financial heartburn in my previous life. Now?  I can buy a brand new vacuum for $100 at the store five minutes away and my budget won't even notice the difference.  I'm constantly amazed at how many of life's little problems just magically disappear when you're rich.
This.
Also, strangely, logging my investments and seeing the numbers grow ever bigger doesn't make me feel rich, but totalling up my spending for the month and finding I'm still way under budget despite having spent money on x,y and z does!

APowers

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Re: Feeling Like a Million Bucks!
« Reply #5 on: December 22, 2017, 09:41:23 AM »
What makes me feel rich? The fact that I own a house outright that's currently rented, making me money. The fact that I am able to afford a 180k mortgage on the house we're in now, which is huge-- I mean seriously, it has a full basement and is 2400 sqft. The fact that we can afford to take a 2-3 week road trip at least once a year (granted, not super-luxurious by average people standards, but not "sleeping in the car" either). The fact that even with $180k mortgage, we can still live in a nice place and have a nice life on $2,000-$2,200/month

What makes me feel poor? The huge house we're living in still needs a ton of remodelling...and I don't have enough money to hire it out. So I'm trapped having to do it myself. Which I'm reasonably good at, but it's not what I want to be doing. I want to be going on fun hikes and cool adventures and learning stuff with my wife and kids, but instead I'm stuck working--either for money or on my own house. There's always some project hanging over my head. Speaking of not having enough money...I feel poor when I can't seem to find a job that pays anywhere close to "average". I've only ever averaged ~$24k/yr in income, and my best year ever was ~$41k (working two jobs + remodelling our first house. Not fun. Never again.). I don't know how to fix that to do better, and it's still frustrating and makes me feel poor; or rather, it makes me inwardly rage at people who "are barely scraping by on $50k". IF ONLY I had that exploding volcano of cash, my life would be SO much easier. Where do people find these jobs? 'Cause I want one. I don't really even care if it's filing TPS reports.

People who talk about 401k choices. Like they are a normal thing, and doesn't everyone have a choice about whether to contribute to get an employer match? No. No, I don't. Even when I HAD a normal employer, there was no retirement plan or 401k or company match, let alone enough money to put in one.


Sorry for the rant. Back to the normal programming now.

soccerluvof4

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Re: Feeling Like a Milliion Bucks!
« Reply #6 on: December 22, 2017, 09:52:20 AM »
What makes me feel rich is having no debt, having what I perceived to be needed for mine and my kids futures covered and the ability to pay cash for what I need. Not having the desire for really anything I can think of right now other than moving at some point but thats a want more than a need and wont effect my finances negatively.  And of course my Freedom!

What makes me feel poor: I will have to get back to you on that as I can't think of anything.

Bateaux

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Re: Feeling Like a Milliion Bucks!
« Reply #7 on: December 22, 2017, 09:53:15 AM »
I feel like a million bucks being all cash and no flash.  FU money is when you start living.

mm1970

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Re: Feeling Like a Milliion Bucks!
« Reply #8 on: December 22, 2017, 09:59:43 AM »
I broke our vacuum cleaner last month, by sucking up a shoelace.  Totally shattered the plastic housing around the brushes.

Unexpectedly replacing a household appliance would have caused me some financial heartburn in my previous life. Now?  I can buy a brand new vacuum for $100 at the store five minutes away and my budget won't even notice the difference.  I'm constantly amazed at how many of life's little problems just magically disappear when you're rich.
We have had a pretty big fire here the last month.  I thought 2017 was bad enough, December can suck it.

Though our house was not in an evac zone, the air quality was terrible and they canceled school.  We evacuated 1.5 to 2 hours away - twice - for a total of 7 unplanned days in hotels, and 2 missed work days.

Many of my friends did this also.  It was a hardship for some.  One was unhappy that her husband had to work (his workplace was never in an evac zone).  She felt that he should be able to leave town with his family, and get paid, without taking vacation time.  Which: that has never happened to me at any company or the Fed Govt.  The *only* time we were paid for not working is if the company itself, or Govt itself, shut down unexpectedly due to weather.  (As it is, she's a teacher and the schools shut down for 7 days, and yes, she got paid.)

In any event, my husband and I were very happy that we could pick up and go.  Pay for hotels and a few meals out (I hate eating out, and my stomach hates it too).  Without even blinking, a week, about $1500 in hotels and food.  I had the 2 spare PTO days.  Because I realize shit happens.  As my spouse pointed out "We still stayed at cheap hotels!"  Sort of.  They were in the $90-120/ night range.  I consider that mid-range.  (Hampton Inn and Suites was one of them.)  The 2nd time we evac'd to the 3rd hotel, I took the instant pot and made spaghetti in the room.  The typical meal out for our family of 4 is $60.  5 meals of that was enough for me forever.

the_fixer

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Re: Feeling Like a Milliion Bucks!
« Reply #9 on: December 22, 2017, 10:08:48 AM »
For me it is the security of not having to worry about either or both of us losing a job we could still take care of the bills and be ok.

I will admit that sometimes it does feel like we are poor but it is self inflicted due to how deep we have cut everything in the last year and a half. When I get that feeling I look at the accounts, look at our FIRE date and think about a few years from now where I can volunteer to go count fish underwater and not worry about getting a paycheck.


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Dr. Pepper

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Re: Feeling Like a Milliion Bucks!
« Reply #10 on: December 22, 2017, 10:42:16 AM »
I guess it depends, if you had to live like a poor person( or felt that way) to accumulate the money it makes sense that you could still feel poor, even as money piles up. If on the other hand, you feel like your not depriving yourself and still at the same time accumulating wealth, well it would make sense to see yourself as rich as you have everything you want or need. But it's all just a mindset, like you said.

froggie

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Re: Feeling Like a Milliion Bucks!
« Reply #11 on: December 22, 2017, 10:51:01 AM »
Before last week I would have said: working hard at a job I love that makes a difference - education for destitute kids in the developing world, doesn't get any better than this!

But then I lost my job. Thankfully I've got FU money.

So really the one thing that will keep us rich is our family. My 8-year old keeps me grounded. And nothing is more important than our time together.
And now I have LOADS of it :)

wenchsenior

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Re: Feeling Like a Milliion Bucks!
« Reply #12 on: December 22, 2017, 10:54:51 AM »
I have 2 distinct levels of feeling 'rich', which in  my case seems to equate to feeling 'secure'.

The first level occurred when we attained the point where (similar to sol and jrhampt) those 'random but somewhat predictable' bills (broken tooth requiring crown, expensive vehicle breakdown, etc.) became a mild annoyance  rather than a situation requiring extra hours at work, putting the bill on a credit card, and then worrying until we could pay it off months later.

The second level just occurred last month(!)  That was the month that DH's pension became technically accessible (though at a much-penalized reduced rate).  Add that inflation-indexed 13K/year to our potential investment income, and we have achieved a baseline of passive income generation of ~35-40k/year, which will increase going forward.

It is a huge relief to have enough locked-in passive income to know that, if we were both unable to work, we would still have enough for shelter, food, etc., without living in constant fear.   That makes me feel incredibly rich.


Greenback Reproduction Specialist

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Re: Feeling Like a Milliion Bucks!
« Reply #13 on: December 22, 2017, 11:07:49 AM »
I've been feeling poor lately, though when I stop and really think about it I know I'm not, its just been a feeling I cant shake lately. Mostly I think it is caused by comparing our situation to other people and wanting things to happen faster.

BUT... Being completely out of debt (except for the house), and having passive income that could cover some bare expenses makes me feel rich : )

Dances With Fire

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Re: Feeling Like a Milliion Bucks!
« Reply #14 on: December 22, 2017, 11:10:35 AM »
This has been a popular topic on several forums this past year. Some posters making over 6 figures didn't feel all that "wealthy". I have come to believe as others have on this board, that "feeling Rich" is a state of mind instead of a high salary, big house, car, or zip code.

In my 20's I lost a good job that I really enjoyed. During a period of unemployment I took sometime to return to some hobbies I had neglected, in particular some hiking and fishing. On one such trip I had a view of a major commuting highway in the distance. Looking back, who was more "Rich"? All those commuters rushing to their cubicle or the unemployed fly fisherman standing along the river?

As life long savers and investors, today we are FI and are able to travel almost anywhere in the world. We don't "sweat the small stuff" as much as we used to which is truly a blessing. Feeling like a Million bucks? Nah, not really. But more importantly we feel lucky to be able to focus more and more on what we value most. Family, friends, travel, and nature....


neil

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Re: Feeling Like a Milliion Bucks!
« Reply #15 on: December 22, 2017, 11:56:39 AM »
I would find it absurd to feel poor.  I had more money as a college student than my parents ever had.  I have different problems being an engineer that they don't deal with, but I wouldn't give up security just for a simpler job.  Frankly, I felt like simply having an engineering degree made me FI.

I know the charts say worldwide I am essentially wealthy.  But I think the feeling of wealth comes from attachment of physical objects you own.  It doesn't matter that, as a philosophy, I reject this approach.  I go to work and my compensation flows into things I don't tangibly see.

I think the value of generosity is something I'm beginning to understand better.  Being able to take some of those intangible assets and create something of value that someone appreciates helps more with feeling "rich".  It's great that I have options for career and travel, and this makes my life more enjoyable, but I don't think those things make me feel "rich" on their own.

Either way, I don't think I care about feeling rich.  I have fairly neutral positions on most things in life and this ends up being one of them.

Rural

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Re: Feeling Like a Milliion Bucks!
« Reply #16 on: December 22, 2017, 07:09:50 PM »
I will eat tomorrow. Three times unless I choose to snack. I have absolutely no doubts about this (well, always assuming I live through the day). But if I live, and if I am hungry, I will be able to get food.


It's not the food itself that means I'm rich; it's the certainty that there will be food.


I don't know that I will ever get over these sorts of things: The food security. The ability to make medical decisions based on medical needs. Being truly warm when it's cold outside. Not having to panic if something goes wrong. Not having to go move buckets around because it's raining.


I think of something along these lines at least once a day, and have for years, so I don't think I'll ever stop feeling rich.

Rylito

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Re: Feeling Like a Milliion Bucks!
« Reply #17 on: December 22, 2017, 07:35:16 PM »
I broke our vacuum cleaner last month, by sucking up a shoelace.  Totally shattered the plastic housing around the brushes.

Unexpectedly replacing a household appliance would have caused me some financial heartburn in my previous life. Now?  I can buy a brand new vacuum for $100 at the store five minutes away and my budget won't even notice the difference.  I'm constantly amazed at how many of life's little problems just magically disappear when you're rich.
We have had a pretty big fire here the last month.  I thought 2017 was bad enough, December can suck it.

Though our house was not in an evac zone, the air quality was terrible and they canceled school.  We evacuated 1.5 to 2 hours away - twice - for a total of 7 unplanned days in hotels, and 2 missed work days.

Many of my friends did this also.  It was a hardship for some.  One was unhappy that her husband had to work (his workplace was never in an evac zone).  She felt that he should be able to leave town with his family, and get paid, without taking vacation time.  Which: that has never happened to me at any company or the Fed Govt.  The *only* time we were paid for not working is if the company itself, or Govt itself, shut down unexpectedly due to weather.  (As it is, she's a teacher and the schools shut down for 7 days, and yes, she got paid.)

In any event, my husband and I were very happy that we could pick up and go.  Pay for hotels and a few meals out (I hate eating out, and my stomach hates it too).  Without even blinking, a week, about $1500 in hotels and food.  I had the 2 spare PTO days.  Because I realize shit happens.  As my spouse pointed out "We still stayed at cheap hotels!"  Sort of.  They were in the $90-120/ night range.  I consider that mid-range.  (Hampton Inn and Suites was one of them.)  The 2nd time we evac'd to the 3rd hotel, I took the instant pot and made spaghetti in the room.  The typical meal out for our family of 4 is $60.  5 meals of that was enough for me forever.

Hi mm,

I have been wondering how you've been doing.  Glad to hear you and your family are OK, although I am sorry to hear about the stressful time all Santa Barbara residents have been dealing with.  Stay safe.

Retire-Canada

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Re: Feeling Like a Milliion Bucks!
« Reply #18 on: December 22, 2017, 08:58:48 PM »
I felt rich when I realized I could stop working for a decade without any worries. The power of FU money. :)

TheWifeHalf

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Re: Feeling Like a Milliion Bucks!
« Reply #19 on: December 22, 2017, 09:45:46 PM »
When my dog needed his gall bladder removed, was told it would be $2200, and said "Let's book it."

When I buy organic food.

When we remodeled our kitchen and not once had to decline something because of cost.


Northern gal

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Re: Feeling Like a Milliion Bucks!
« Reply #20 on: December 22, 2017, 10:01:56 PM »
Quote from: sol
.  I'm constantly amazed at how many of life's little problems just magically disappear when you're rich.

+1.

My vacuum cleaner broke too. I just reordered the same model online while the baby napped and had it delivered.

I online bulk shop groceries which saves me a good 4-5 hours per week of driving, parking, selecting, paying, packing, unpacking. It also probably adds $50 to my fortnightly grocery bill. Every time i look at my full cupboards, Thermomix and a delicious meal plan for the fortnight I'm like, wow there's mothers out there queuing at checkouts with screaming kids. my life is so easy!

Oh and getting stuff off buy nothing that I wanted. This will sound bizarre but nothing makes me feel as abundant, safe and taken care of as serendipitous provision for my needs or wants by sheer... Providence? Luck? Blessing?

Sitting in the spa in my backyard and watching fresh organic lemons ripening on the tree. There was a time when any recipe calling for lemon rind meant a long treck to an expensive supermarket.

Having a fetal doppler lying around to listen to my baby's heartbeat whenever I want to. There's people queuing at hospital wards to try and get someone to please check them out....
« Last Edit: December 22, 2017, 10:16:04 PM by Northern gal »

PseudoStache

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Re: Feeling Like a Milliion Bucks!
« Reply #21 on: December 22, 2017, 10:26:04 PM »
Today I took my daughter shopping for some Christmas gifts and went to Brighton (?) thinking there would be some cheap costume jewelry in there for her grandmothers.... but virtually everything she picked out was $100+.  There were some cheaper items, but still $50+

We're closing in on a $2MM net worth (knock on wood), but when I asked the price of a $75 tacky rainbow-stoned ring that my 5 year old liked, I could "feel" the clerk giving me the Pretty Woman in Beverly Hills routine as I strolled in with my t-shirt and worn sneakers.

Sure, I could easily afford this stuff, but $100 still seems "expensive" to me - especially for what seemed like slightly upscale Cracker Jack box accessories.

But I'll tell ya - this was the first time in a long while where I "felt" poor!  I felt like I needed to show this clerk that she had made a "Big Mistake. Huge," and almost bought something to feed my ego.

I do feel very grateful for where I am at, have FU money, and probably don't HAVE to work, but I don't feel rich; probably because rich to me means extravagance/luxury -  I think I'd probably just say "I'm doing pretty well"

Acorns

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Re: Feeling Like a Milliion Bucks!
« Reply #22 on: December 22, 2017, 10:42:07 PM »
What makes me feel like a million bucks? Hot water when I shower, a washer and dryer, knowing I can order a delivery meal if I really really don't feel like cooking, seeing that interest on our investments has far outmatched our contributions over the past year.

What makes me feel poor? Thinking about paying for college for my kids in another 15 years (I know some people on this board consider paying for college for one's offspring to be an unnecessary extravagance, but my spouse and I both consider it a priority).

SC93

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Re: Feeling Like a Milliion Bucks!
« Reply #23 on: December 22, 2017, 11:40:13 PM »
Washer and dryer? I have 12 sets in my garage and about 30 sets over at the shop. I can loan you a set if you are ever in need. lol

Like someone above said, I feel rich when I travel. I also like colored socks, yes, weird I know. But they make me feel like a million dollars while wearing them. I hear tell I'm getting more colored socks for Christmas :)
« Last Edit: December 22, 2017, 11:43:23 PM by SC93 »

aceyou

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Re: Feeling Like a Milliion Bucks!
« Reply #24 on: December 23, 2017, 09:28:02 AM »
Things that make me feel like a million bucks:

My wife: She's kind, fun, easygoing, intelligent, frugal, successful, beautiful, active.  Every time we go out to a social event together, I always leave thinking "wow, my wife is the best!". 

My kids: 2 and 5 now, they are healthy and are developing very well.  My five year old son is a sweet, kind, fun kid who loves making crafts and being silly.  My 2 year old daughter is a spunky high energy girl who loves to play and talk with everyone. 

Our Friends: Our closest friends are very fit, happy, ambitious, great parents, and just love life.  Particularly our neighbors two doors down.  We are around them constantly, they have kids our age, and they are basically MMMer's at heart despite probably never hearing of the site. 

Financially: We are miles ahead of all of the people we teach with.  It isn't a race or a contest, but it is easier to feel grateful and rich when you are in a relatively better position than almost everyone you are around when you show up for work each day.  Our net worth is growing at 10k per month because we spend so little and our investments are starting to snowball.  It amazes me how even in months where I feel spendy...maybe we spent a couple hundred bucks on something we normally wouldn't, it just never moves the needle. 

Living a full life of simple things:  The things that make my wife and I happy...being with each other and our kids, reading, biking/running, going to parks/playgrounds/the beach, campfires in the back yard with neighbors, inviting friends randomly to eat dinner with us and having them reciprocate.  All of those things are REALLY cheap.  People with expensive tastes have to ration their fun and save up for the next time they do what they love.  But we don't have to save up for the next bike ride to the lake, or the next campfire at the neighbors with a beer or cup of hot tea on a cool summer night, or the next time we get a book from the library.  Other's might find it to be a sacrifice to send 60% of their paychecks to their investments, but we have unlimited free sources of happiness every day, so we don't really have to make a trade-off, it's just win-win.

AccidentalMiser

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Re: Feeling Like a Milliion Bucks!
« Reply #25 on: December 23, 2017, 09:34:03 AM »
The furnace blower died in my rental/summer house today.  On Saturday.  In Wisconsin.  Which will be -5 degrees on Tuesday.

Calling the repair guy and being able to get it fixed without wondering how it will impact Christmas or my January bills makes me feel rich.

As an aside, we haven't hit a million yet but will in April or May of 2018.  Not too bad for having a negative net worth in 2011!

MrsPete

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Re: Feeling Like a Milliion Bucks!
« Reply #26 on: December 23, 2017, 11:34:54 AM »
Unexpectedly replacing a household appliance would have caused me some financial heartburn in my previous life. Now?  I can buy a brand new vacuum for $100 at the store five minutes away and my budget won't even notice the difference.  I'm constantly amazed at how many of life's little problems just magically disappear when you're rich.
Yes, this!  I LOVE knowing that if my vacuum (or my dishwasher, or my HVAC, or whatever) breaks today, I can have another one or can call a repairman -- right away.  I grew up in a home where this wasn't the case.  If I'd ruined the vacuum when I was a child /teen, punishment and emotional ridicule of MONSTEROUS PROPORTION would have followed, and we'd have been without a vacuum for months.  When a new (cheap) model finally appeared, we would all have been lectured on taking better care of it. 

Yes, it's amazing to me that things like broken vacuums are now small /easily solved incidents -- things like this are a bump in the road, not a crisis. 

We're closing in on a $2MM net worth (knock on wood), but when I asked the price of a $75 tacky rainbow-stoned ring that my 5 year old liked, I could "feel" the clerk giving me the Pretty Woman in Beverly Hills routine as I strolled in with my t-shirt and worn sneakers.
I get that every now and then (at this moment I'm wearing leggings and a tee-shirt dress ... with my husband's super warm socks), but it doesn't actually make me feel bad /poor.  Instead, I find it funny.  A store clerk, who probably doesn't make $10/hour (but then, that's me judging) thinks I'm poor?  These are people whose names I don't know, who will not remember me in 15 minutes.  Isn't it odd the things that bother us vs. the things that we can easily laugh off?

What makes me feel poor? Thinking about paying for college for my kids in another 15 years (I know some people on this board consider paying for college for one's offspring to be an unnecessary extravagance, but my spouse and I both consider it a priority).
Paying for our children's college education was also a priority for us, and we began saving for this purpose before the children were conceived.  Our oldest is out of college and has been working for just over a year now.  Seeing her started well in life, working in her field, buying a house of her own -- knowing that I set her on that path makes me feel rich.  The youngest is almost through college and is on track to do just as well. 

Don't worry about it too much.  Paying those bills has been easier than expected; we only dipped into savings once thusfar, and the year we really worried about -- the year they were both in school -- they BOTH won huge scholarships.  Save now, and it'll work out. 

MatthewK

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Re: Feeling Like a Milliion Bucks!
« Reply #27 on: December 23, 2017, 12:53:54 PM »
Great thread!

Even though we don't yet have a million bucks, what makes me feel like we do is when I know we can handle just about any emergency within reason easily enough. Also having finally developed my frugality muscle and can pretty easily say no to material possession's that use to lure me in so easily :-).

What makes me feel poor is when I get too caught up in net worth when comparing myself to other FI bloggers or those on this forum.

TheWifeHalf

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Re: Feeling Like a Milliion Bucks!
« Reply #28 on: December 23, 2017, 01:02:17 PM »
I see a couple of references to broken vacuums, and it made me think we're still frugal.
33 years ago I worked 'accounts receivable' at an electrical wholesaler. An employee could buy anything they sold at cost + 10%. We were remodeling then, had the walls torn apart anyways, so purchased a central vacuum. I think it was about $600 and my husband put it in.

4 years ago it stopped working, and we could have just bought a new one. But my husband rebuilt the motor, and the thing's been working fine since.

When I met him his younger brothers called him 'Squeak.'  Once a squeak, always a squeak!
It's vented to the outside so the neighbors know how often (or rarely) I vacuum.

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Re: Feeling Like a Milliion Bucks!
« Reply #29 on: December 23, 2017, 01:27:03 PM »
What makes us feel rich?

Living a middle class lifestyle, wanting for nothing, and being able to travel as much as we want (time being the limiting factor here), all while savings ~55% of our after tax income.

Another big one, having ~9X annual expense NW at the age of 30/26. We have very little stress about our employment situation these days. Being DINKS means that even with some hiccups we will get to 25X in our mid/late 20's.

EmFrugal

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Re: Feeling Like a Milliion Bucks!
« Reply #30 on: December 23, 2017, 03:10:31 PM »
I feel rich knowing that we don't finance things and have no debt (except our mortgage). I feel poor when I get caught in the nasty trap of jealousy/comparison to others I know my age (thirties) who live off of trust funds, are able to remodel their homes for fun, or are able to purchase the perfect single family home for their family.

When I meditate regularly all the jealousy melts away and I feel rich emotionally and spiritually.

PhilB

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Re: Feeling Like a Milliion Bucks!
« Reply #31 on: December 23, 2017, 03:20:43 PM »
I see a couple of references to broken vacuums, and it made me think we're still frugal.
33 years ago I worked 'accounts receivable' at an electrical wholesaler. An employee could buy anything they sold at cost + 10%. We were remodeling then, had the walls torn apart anyways, so purchased a central vacuum. I think it was about $600 and my husband put it in.

4 years ago it stopped working, and we could have just bought a new one. But my husband rebuilt the motor, and the thing's been working fine since.

When I met him his younger brothers called him 'Squeak.'  Once a squeak, always a squeak!
It's vented to the outside so the neighbors know how often (or rarely) I vacuum.
So happy you posted this as I've been biting my tongue for days.   Whilst I completely agreed with the points about feeling rich because you could buy a new vacuum in a heartbeat, the last time my vacuum actually died a I just ordered a replacement part for <£10.

Blackeagle

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Re: Feeling Like a Milliion Bucks!
« Reply #32 on: December 23, 2017, 07:53:34 PM »
I feel rich because of the fact that I can have a more than 40% savings rate without feeling at all deprived by my lifestyle.  Going for 50% next year!

MM_MG

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Re: Feeling Like a Milliion Bucks!
« Reply #33 on: December 24, 2017, 11:26:37 AM »
Went shopping the other day and couldn't remember if we were going to cook a tenderloin or a prime rib for Christmas...so I bought one of each just to avoid going back to Costco.


SC93

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Re: Feeling Like a Milliion Bucks!
« Reply #34 on: December 24, 2017, 01:27:27 PM »
I got new colored socks for Christmas!!!! Red/blue/yellow/green/dark red!! Woohoooo

Not having to have a job. Even my first business that I started back in the 90's I always felt kind of rich just telling people I owned my own business..... and now its true!

mm1970

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Re: Feeling Like a Milliion Bucks!
« Reply #35 on: December 24, 2017, 04:32:10 PM »
I broke our vacuum cleaner last month, by sucking up a shoelace.  Totally shattered the plastic housing around the brushes.

Unexpectedly replacing a household appliance would have caused me some financial heartburn in my previous life. Now?  I can buy a brand new vacuum for $100 at the store five minutes away and my budget won't even notice the difference.  I'm constantly amazed at how many of life's little problems just magically disappear when you're rich.
We have had a pretty big fire here the last month.  I thought 2017 was bad enough, December can suck it.

Though our house was not in an evac zone, the air quality was terrible and they canceled school.  We evacuated 1.5 to 2 hours away - twice - for a total of 7 unplanned days in hotels, and 2 missed work days.

Many of my friends did this also.  It was a hardship for some.  One was unhappy that her husband had to work (his workplace was never in an evac zone).  She felt that he should be able to leave town with his family, and get paid, without taking vacation time.  Which: that has never happened to me at any company or the Fed Govt.  The *only* time we were paid for not working is if the company itself, or Govt itself, shut down unexpectedly due to weather.  (As it is, she's a teacher and the schools shut down for 7 days, and yes, she got paid.)

In any event, my husband and I were very happy that we could pick up and go.  Pay for hotels and a few meals out (I hate eating out, and my stomach hates it too).  Without even blinking, a week, about $1500 in hotels and food.  I had the 2 spare PTO days.  Because I realize shit happens.  As my spouse pointed out "We still stayed at cheap hotels!"  Sort of.  They were in the $90-120/ night range.  I consider that mid-range.  (Hampton Inn and Suites was one of them.)  The 2nd time we evac'd to the 3rd hotel, I took the instant pot and made spaghetti in the room.  The typical meal out for our family of 4 is $60.  5 meals of that was enough for me forever.

Hi mm,

I have been wondering how you've been doing.  Glad to hear you and your family are OK, although I am sorry to hear about the stressful time all Santa Barbara residents have been dealing with.  Stay safe.
Thank you.  It's nice to be home again, with fresh air, the ability to walk outside.  Today I attended a neighborhood brunch potluck in the park and felt "I am so rich!" to be able to share food and conversation with so many wonderful neighbors and their families.

Acorns

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Re: Feeling Like a Milliion Bucks!
« Reply #36 on: December 24, 2017, 07:45:48 PM »
Paying for our children's college education was also a priority for us, and we began saving for this purpose before the children were conceived.  Our oldest is out of college and has been working for just over a year now.  Seeing her started well in life, working in her field, buying a house of her own -- knowing that I set her on that path makes me feel rich.  The youngest is almost through college and is on track to do just as well. 

Don't worry about it too much.  Paying those bills has been easier than expected; we only dipped into savings once thusfar, and the year we really worried about -- the year they were both in school -- they BOTH won huge scholarships.  Save now, and it'll work out.

Thank you for your reassuring words. I try not to worry about it too much, we do what we can to save and educate our kids on making good financial choices, and hopefully there will be scholarships (DH and I both had partial to full academic scholarships) or other assistance in the future.

MrsPete

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Re: Feeling Like a Milliion Bucks!
« Reply #37 on: December 24, 2017, 08:34:59 PM »
Thank you for your reassuring words. I try not to worry about it too much, we do what we can to save and educate our kids on making good financial choices, and hopefully there will be scholarships (DH and I both had partial to full academic scholarships) or other assistance in the future.
Seriously, do not count on scholarships.  Try for them, of course, but -- while you're in the planning stages -- assume none will come through for your kids.  If they do earn a scholarship, GREAT!  But plan as if nothing comes your way. 

Scholarships don't necessarily go to the students with the best grades.  I've seen plenty of students over the years who went through high school earning straight-As (in tough classes), yet they got nothing.  Kids who get scholarships fall into two categories:

- Kids who have excellent grades PLUS lots of extracurriculars -- and it's better to be heavily involved in a couple activities (and to show progression towards leadership -- club member as a freshman/sophomore, small leadership position as a junior, president as a senior).  And financial need helps.
- Kids who have excellent grades PLUS are going into scholarship-friendly fields.  For example, nursing and teaching are scholarship-friendly fields; business and art are not.  Also, kids who are going into the military stand a good chance of getting scholarships.  And, again, financial need helps. 

SwordGuy

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Re: Feeling Like a Milliion Bucks!
« Reply #38 on: December 25, 2017, 01:10:06 PM »

We feel rich.

We live in a great house that's awesome for our needs.  We have everything we need and a whole lot of what we want.   We don't have to work anymore, in fact, we've decided to FIRE in May of next year when the school semester is over.

We have money in the bank.   We have multiple sources of income.   We own six houses but only have 1 mortgage.

I realized that we were rich when we bought the last house for $100k, planning to spend another $150k on it to restore it - FOR FUN.  And that if we didn't make the money back when we flipped it, then it still wouldn't matter to our FIRE plans.



better late

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Re: Feeling Like a Milliion Bucks!
« Reply #39 on: December 25, 2017, 01:24:33 PM »
I feel rich when I can spend whatever it takes to care for a loved one. When DD got really sick at college last year, we had to spend $$ to get there and take care of her. I felt incredibly rich/fortunate to be able to drop everything, take time off work, and fly there to get there ASAP. That also includes having all the bills paid so that time away to fix one problem didn't snowball into a new problem.

I'm a red panda

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Re: Feeling Like a Milliion Bucks!
« Reply #40 on: December 25, 2017, 03:39:33 PM »
Opening a DAF made me feel rich. I mean, it will be several years of donations, but to just give away $25K is kind of awesome.

That we were able to do any tax advantaged scuttling in reaction to the new tax plan made me feel rich. (But not rich enough for that plan to do us much good.)

Leisured

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Re: Feeling Like a Milliion Bucks!
« Reply #41 on: December 27, 2017, 04:28:38 AM »
Not living hand to mouth, not having to work, and being able to buy everyday items when needed - these things do not make me feel rich, they make me feel that this is the way things should be.


OurTown

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Re: Feeling Like a Milliion Bucks!
« Reply #42 on: December 27, 2017, 03:01:59 PM »
I agree with the posters above regarding the ability to easily pay non-recurring expenses.  For example, next month I am going to pay for my daughter's braces via FSA and writing a check for the balance.  I am under the impression that most Americans would finance those suckers out the wazoo. 

Similarly I am going to put new tires on my car next month.  I'm also going to put new insulation in the attic in the near future.  I may even put in new energy efficient windows.  There is a list of little purchases like this throughout the coming year. I can just write a check for this shit without wigging out about where the money is coming from.  Plus we are still packing the money away for FIRE.  This is the stuff that makes me feel wealthy.

Daisy

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Re: Feeling Like a Milliion Bucks!
« Reply #43 on: December 27, 2017, 05:44:29 PM »
Over Christmas, I got several comments on my new blouse that I bought at an Indian store in Toronto. I actually paid $8 USD for it. It was on sale, and I got the favorable CAD-USD exchange rate.

I just smiled. They probably thought I spent a ton on the blouse, but I knew how cheap it was and they probably wouldn't have even walked into the Indian store themselves to find such a prize.

It wasn't even a thrift store purchase! BTW, I have received positive comments on a couple of thrift store purchases and also secretly smiled. I"m pretty new to the thrift store concept (reading on this forum), so it always makes me smile to hear someone compliment a purchase they probably think was expensive but I spent very little on.

Lanthiriel

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Re: Feeling Like a Milliion Bucks!
« Reply #44 on: December 27, 2017, 07:31:44 PM »
I feel rich every morning that I wake up in my King-sized bed in my big master bedroom tucked into the eaves of my historic barn house. I just got back from 10 days in Europe (where I also felt rich), but the first day I woke up in my house again, I realized how much I love my day-to-day life.

HomeSweetLab

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Re: Feeling Like a Milliion Bucks!
« Reply #45 on: December 28, 2017, 07:55:14 AM »
I have 2 distinct levels of feeling 'rich', which in  my case seems to equate to feeling 'secure'.

The first level occurred when we attained the point where (similar to sol and jrhampt) those 'random but somewhat predictable' bills (broken tooth requiring crown, expensive vehicle breakdown, etc.) became a mild annoyance  rather than a situation requiring extra hours at work, putting the bill on a credit card, and then worrying until we could pay it off months later.

The second level just occurred last month(!)  That was the month that DH's pension became technically accessible (though at a much-penalized reduced rate).  Add that inflation-indexed 13K/year to our potential investment income, and we have achieved a baseline of passive income generation of ~35-40k/year, which will increase going forward.

It is a huge relief to have enough locked-in passive income to know that, if we were both unable to work, we would still have enough for shelter, food, etc., without living in constant fear.   That makes me feel incredibly rich.

My thoughts exactly regarding the 2 levels of "feeling rich."

I just attained the first level about a year ago when I took another position with a $20k pay bump and at almost the same time finished paying off my student loans. All of a sudden, I had a ton of extra money in my monthly budget. While I'm pumping all of the extra into savings (didn't succumb to any lifestyle inflation), it feels great to have enough left over in my monthly budget to be able to make almost any emergency purchase that could come my way without putting any strain on my finances. This has brought a great sense of contentment to my life and made me feel incredibly "rich."

While I'm still a long way from the second level, I agree that having enough passive income to not need to work (FU money) will provide the ultimate sense of security and "feeling rich."
« Last Edit: December 28, 2017, 07:57:03 AM by HomeSweetLab »

dividend

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Re: Feeling Like a Milliion Bucks!
« Reply #46 on: December 28, 2017, 08:37:00 AM »
I'm not FI yet (working on it), but it sure is nice to not have to worry about money when it really matters.  I got terribly sick on a trip overseas this fall and had to spend a night in the hospital.  Before they could admit me they needed a ~$4,000 deposit, and I would be responsible for submitting the bills to my insurance company when I got home!  I was so sick - I had a 104° fever and was all alone in a foreign country, so I handed over my credit card without hesitation.  Moved some money from my EF and paid the bill in full when I got my statement.  Still working on getting insurance reimbursement, but it was so nice that none of my stress in that situation was about money.

sol

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Re: Feeling Like a Milliion Bucks!
« Reply #47 on: December 28, 2017, 10:45:10 AM »
This year, I donated more money to charity than I earned in any single year up until 9 years ago.  It kind of baffles me, honestly.

I thought I was rich when I first paid more in federal income taxes than I used to earn in a year.  I still do that, but this year I gave more away than I paid in taxes.  I found it oddly satisfying to watch my net worth tally drop significantly overnight.

Thank you, congressional republicans, for giving me the excuse I needed to start putting my wealth to work for someone other than myself.  I know that wasn't your intent, but I'm looking for silver linings these days.

Northern gal

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Re: Feeling Like a Milliion Bucks!
« Reply #48 on: January 02, 2018, 03:58:39 AM »
Random anecdote: this morning my 17 month old woke up at 3am and refused to go back to sleep. His canines and the last molar are coming through. So I packed him in the car and drove down the coast in the hope he'd snooze. He didn't really, so when the sun came up I stopped at a local beach and let him run around in the sand.

He was still in pyjamas and I was in casual workout clothes. I noticed a few early joggers were giving us looks but thought well duh your baby is at the beach at 5 am in pjs.

A friend later enlightened me they may have thought we were homeless and slept in the car...

Never occurred to me. Don't care. Still feel rich because hey it's a work day, I was up since 3 and it's ok because I don't need to rush to any office.
« Last Edit: January 02, 2018, 04:00:16 AM by Northern gal »