Author Topic: Shoot me now!  (Read 6268 times)

Workinghard

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Shoot me now!
« on: June 07, 2014, 12:22:04 PM »
A family member, based on different models and assumptions, can't retire in 4 years with 5+ million, because he'll run out of money at 93. Um, what about cutting down lifestyle expenses of 230k a year! I just don't get it. Sigh

socaso

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Re: Shoot me now!
« Reply #1 on: June 07, 2014, 12:26:20 PM »
What on earth causes a person to have $230k of annual expenses that absolutely cannot be trimmed? If I were spending that kind of money annually I'd die before 93 anyway because I'd be eating bacon for breakfast, lunch and dinner and washing it all down with champagne.

Gin1984

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Re: Shoot me now!
« Reply #2 on: June 07, 2014, 12:44:37 PM »
What on earth causes a person to have $230k of annual expenses that absolutely cannot be trimmed? If I were spending that kind of money annually I'd die before 93 anyway because I'd be eating bacon for breakfast, lunch and dinner and washing it all down with champagne.
Travel, lots of travel?  My honeymoon for two weeks would have been about $5000 for the flights, rooms and cruise if I can not done some hustling with credit cards.  That is $125000, maybe a house and expensive for such while they are traveling (that they rarely stay in)?  Gods, I don't know, I give up, lol.

annann

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Re: Shoot me now!
« Reply #3 on: June 07, 2014, 12:46:51 PM »
For some people there is no "enough."  They cannot retire because mo matter what they have, it still isn't enough.  Sad but nothing anyone (but them) can do about it.

Workinghard

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Re: Shoot me now!
« Reply #4 on: June 07, 2014, 01:42:07 PM »
It's like where is the reality check?  I just don't get the mentality and I want to shake him.

I have some other relatives that are also multi-millionaires but they're very generous, down to earth, drive older cars, and I've seen one of them wear the same shirts for the past 8 years at family reunions.

Hedge_87

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Re: Shoot me now!
« Reply #5 on: June 07, 2014, 01:57:59 PM »
It's like where is the reality check?  I just don't get the mentality and I want to shake him.

I have some other relatives that are also multi-millionaires but they're very generous, down to earth, drive older cars, and I've seen one of them wear the same shirts for the past 8 years at family reunions.
Hey that sounds exactly like me.... minus the millions. :(

Workinghard

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Re: Shoot me now!
« Reply #6 on: June 07, 2014, 02:48:43 PM »
It's like where is the reality check?  I just don't get the mentality and I want to shake him.

I have some other relatives that are also multi-millionaires but they're very generous, down to earth, drive older cars, and I've seen one of them wear the same shirts for the past 8 years at family reunions.
Hey that sounds exactly like me.... minus the millions. :(

Lol! You and me both.  Maybe we'll be able to join the millionaire club some day! My 12 year old car got totaled yesterday by a car that ran a stop sign. There goes my dream of making it to 300k. It only had 155k and was in great shape. Thankfully no one was hurt.

Hedge_87

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Re: Shoot me now!
« Reply #7 on: June 07, 2014, 03:15:14 PM »
^ thats a bummer. I had the same thing happen with my last vehicle.  Bought it with 60k on it drove it 8 years had 160k. Kept the maintenance up and it was in perfect condition.  Got t boned and it was all gone. I don't mind driving high millage vehicles when I know they have been maintained. But I don't like to buy them with to high of miles because who knows what you are getting.

Glad nobody was hurt though.
I'll toast to the making it to the millionaire club. Cheers!

Nords

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Re: Shoot me now!
« Reply #8 on: June 07, 2014, 03:34:45 PM »
A family member, based on different models and assumptions, can't retire in 4 years with 5+ million, because he'll run out of money at 93. Um, what about cutting down lifestyle expenses of 230k a year! I just don't get it. Sigh
Ah, is Wilton Knight back?

http://www.early-retirement.org/forums/f28/realistic-income-question-thinking-of-retiring-59907.html

Workinghard

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Re: Shoot me now!
« Reply #9 on: June 07, 2014, 03:52:40 PM »
No kids left at home, so it can't be Wilton Knight although same scenario. Thanks for the link, Nords. I'm reading the posts!

Basenji

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Re: Shoot me now!
« Reply #10 on: June 09, 2014, 07:55:34 AM »
A family member, based on different models and assumptions, can't retire in 4 years with 5+ million, because he'll run out of money at 93. Um, what about cutting down lifestyle expenses of 230k a year! I just don't get it. Sigh
Ah, is Wilton Knight back?

http://www.early-retirement.org/forums/f28/realistic-income-question-thinking-of-retiring-59907.html

That makes me want to punch someone. Sigh. I think I'll head over to the gardening thread to calm down. ; )

greenmimama

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Re: Shoot me now!
« Reply #11 on: June 09, 2014, 08:50:02 AM »
Wilton Knight, Wow! is that person real?

Crazy.

enigmaT120

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Re: Shoot me now!
« Reply #12 on: June 09, 2014, 10:49:50 AM »
"Poor man want to be rich, rich man want to be king,
and a king aint satisfied 'till he rules everything." 

golden1

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Re: Shoot me now!
« Reply #13 on: June 09, 2014, 12:12:00 PM »
My old therapist once told me that people aren't wired for happiness, they are wired for survival, hence the drive a lot of people have for more, more, more. 

sleepyguy

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Re: Shoot me now!
« Reply #14 on: June 09, 2014, 01:44:05 PM »
One of my favs :)

OP: my brother and sis-inlaw is the same.  Complain about how much they have to work "blah blah blah", kids are expensive "blah blah blah", won't retire until 65...  Get this... they make over $260k/yr, own 2 properties (1 rental / 1 live-in) each valued about $700k.  People have it so ingrained in their brain the "NEED" these things doing so somehow devalues their lifestyle.  It can be fancy cars, big houses, lavish vacations, private school for kids... etc etc.  Not sure why my bro thinks like this as we were raised exactly the same (lower income family).

"Poor man want to be rich, rich man want to be king,
and a king aint satisfied 'till he rules everything."

Workinghard

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Re: Shoot me now!
« Reply #15 on: June 09, 2014, 04:00:58 PM »
One of my favs :)

OP: my brother and sis-inlaw is the same.  Complain about how much they have to work "blah blah blah", kids are expensive "blah blah blah", won't retire until 65...  Get this... they make over $260k/yr, own 2 properties (1 rental / 1 live-in) each valued about $700k.  People have it so ingrained in their brain the "NEED" these things doing so somehow devalues their lifestyle.  It can be fancy cars, big houses, lavish vacations, private school for kids... etc etc.  Not sure why my bro thinks like this as we were raised exactly the same (lower income family).

"Poor man want to be rich, rich man want to be king,
and a king aint satisfied 'till he rules everything."

I can't help but shake my head every time I think about it. We were also raised in a lower income family. In fact, there were times I stole food from a grocery store. If anything, it taught me to manage my money and save. I was determined not to be in that situation as an adult. What a waste though when that money could be used for so many other things. Our giving, around 1k a month, is by far our biggest expense. It's ironic that I will be able to retire earlier with a lot less money....