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.
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.
Quote from: Workinghard on June 07, 2014, 01:42:07 PMIt'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. :(
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
Quote from: Workinghard on June 07, 2014, 12:22:04 PMA 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. SighAh, is Wilton Knight back?http://www.early-retirement.org/forums/f28/realistic-income-question-thinking-of-retiring-59907.html
"Poor man want to be rich, rich man want to be king,and a king aint satisfied 'till he rules everything."
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).Quote from: enigmaT120 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."