Author Topic: When Reaching Goals Isn't All That Exciting--Is It Supposed to Be?  (Read 9786 times)

ltt

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I'm not exactly sure how I ran across this website. 

I'm going to try and follow some more of the principles on this website--haven't had the opportunity to read a lot of the info. 
« Last Edit: November 09, 2017, 04:17:52 PM by ltt »

Ftao93

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Sounds like you're doing great!

Just remember, everyone else may have fancy new cars and the latest/greatest gadgets, but they probably have little to no net worth.

soccerluvof4

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Read the book " The Millionaire Next Door" and you will find the answers to alot of those people that you might think have money! Great easy read! And will make you feel really good about your accomplishments!

livingthedream

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Agree on the "The Millionaire Next Door" recommendation.  What's your financial independence goal? I personally don't get that excited about the money. It's what it will allow me to do like traveling for extended periods of time and not having to set an alarm.

ltt

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Read the book " The Millionaire Next Door" and you will find the answers to alot of those people that you might think have money! Great easy read! And will make you feel really good about your accomplishments!

I read that book many years ago--loved it!!  Maybe I need to go back again and re-read.


ltt

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Agree on the "The Millionaire Next Door" recommendation.  What's your financial independence goal? I personally don't get that excited about the money. It's what it will allow me to do like traveling for extended periods of time and not having to set an alarm.

I don't believe my husband and I have a goal.  I like to travel--my husband could take it or leave it.  All our children are in elementary/middle/high school, which makes it difficult to travel during the times that are really good for travelling.  I would love to be free of the cold winters and my ideal location would  preferably be somewhere there is a year-round growing season.  I'm also trying to free us of all the material things that pile up over many years of marriage and after having children.  The material things just don't have a lot of meaning for me.  I would also love not to have to "run" on a continual basis--to the store, to the bank, outside activities, errands in general, etc.  It's like being on a perpetual hamster wheel.  I would like my husband to retire before age 65; I've known men who have died shortly after they retired or who have received a not-so-good diagnosis.

Ftao93

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The material things just don't have a lot of meaning for me.  I would also love not to have to "run" on a continual basis--to the store, to the bank, outside activities, errands in general, etc.  It's like being on a perpetual hamster wheel.  I would like my husband to retire before age 65; I've known men who have died shortly after they retired or who have received a not-so-good diagnosis.

That's where I'm at.  I turn 40 next year, and I'd like to think that I don't have to work super hard for another 25 years before I enjoy life...

foggnm

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Congrats on your family's net worth! I suppose retiring at 65 is not a bad thing if you are in love with your job. But for me, being a nurse, the idea of working a 'job' for another 25 years is highly unappealing. My goal is to be able to work part time in another 10 years (at which time my mortgage will be long paid off). And to continue working part time or per diem as long as I find it enjoyable. I don't want to be one of those people that works like a dog and then gets 10 years to enjoy life.

TomTX

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Agree on the "The Millionaire Next Door" recommendation.  What's your financial independence goal? I personally don't get that excited about the money. It's what it will allow me to do like traveling for extended periods of time and not having to set an alarm.

I don't believe my husband and I have a goal.  I like to travel--my husband could take it or leave it.  All our children are in elementary/middle/high school, which makes it difficult to travel during the times that are really good for travelling.  I would love to be free of the cold winters and my ideal location would  preferably be somewhere there is a year-round growing season.  I'm also trying to free us of all the material things that pile up over many years of marriage and after having children.  The material things just don't have a lot of meaning for me.  I would also love not to have to "run" on a continual basis--to the store, to the bank, outside activities, errands in general, etc.  It's like being on a perpetual hamster wheel.  I would like my husband to retire before age 65; I've known men who have died shortly after they retired or who have received a not-so-good diagnosis.

Time to start selling junk on Craigslist! :)

former player

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Your life sounds good: paid off house, money invested, kids making progress through the educational system.  The only question left is: how does your husband feel about his job and when would he like to retire?

Gray Matter

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I got a little kick from hitting a million, but it faded quickly because honestly, it's just a number.  We live in a moderately high COL area, still have a mortgage, and that amount of money won't generate the kind of income we need to have the kind of life we want (e.g., stay in our current home, some international travel, able to handle health crises, and feeling secure that the money will last our entire lives). 

When the day comes that we hit THE number (which is yet to be determined), then I suspect/hope that will feel like a BIG HAIRY DEAL.

dude

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$1million net worth doesn't excite me all that much (if I choose to include a house that's in DW's name, we're well over, but I don't factor it in).  What will excite me for sure is when the investable assets break $1million -- then I'll consider myself a true "millionaire," for what that's worth these days.

randymarsh

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When I look around, I see many people who live in much nicer homes than we do and wonder if they are at $1M also because everyone seems to be living like it

They're probably closer to 0.

livingthedream

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Agree on the "The Millionaire Next Door" recommendation.  What's your financial independence goal? I personally don't get that excited about the money. It's what it will allow me to do like traveling for extended periods of time and not having to set an alarm.

I don't believe my husband and I have a goal.  I like to travel--my husband could take it or leave it.  All our children are in elementary/middle/high school, which makes it difficult to travel during the times that are really good for travelling.  I would love to be free of the cold winters and my ideal location would  preferably be somewhere there is a year-round growing season.  I'm also trying to free us of all the material things that pile up over many years of marriage and after having children.  The material things just don't have a lot of meaning for me.  I would also love not to have to "run" on a continual basis--to the store, to the bank, outside activities, errands in general, etc.  It's like being on a perpetual hamster wheel.  I would like my husband to retire before age 65; I've known men who have died shortly after they retired or who have received a not-so-good diagnosis.

You guys are doing great. I would recommend figuring out a goal and start planning. Your numbers will get much more exciting when they are attached to an event like getting off that hamster wheel.

Rika Non

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When I crossed over 1M in assets (without equity) earlier this year I so had to fight the urge to do a happy dance and brag to everyone around me.

I did NOT brag or even mention it to anyone other than my SO.  But the urge was there.

I think it's good to be happy about reaching / crossing number lines.  (Even if the voice in the back of my head says it's just integer worship).  Life doesn't change, but finding reasons to be thankful for where you are is a good thing to me.

otherbarry

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I'm going to be ecstatic when I get to the $10k mark, but that might be because I'm taking my own initiative for once instead of just floating along with society. Anyway it sounds like it just sort of happened for you, maybe it would've meant more if it was a goal you had set? Perhaps using that $1M to achieve another goal (i.e. something limiting all those errands) you'd feel a better sense of accomplishment.

marty998

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A million doesn't get you as much as it used to. Well thats what they say down here anyway. At some point in the past a million was rich/wealthy. Maybe $5m is the new $1m these days.

I'm about $25k away from half a mill right now. Should be something to celebrate but I suppose its just a nice round number on the screen.

clifp

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A million doesn't get you as much as it used to. Well thats what they say down here anyway. At some point in the past a million was rich/wealthy. Maybe $5m is the new $1m these days.

I'm about $25k away from half a mill right now. Should be something to celebrate but I suppose its just a nice round number on the screen.

Agree wholeheartedly regarding the statement about $1M--it sounds like a lot, but when homes are just so expensive, it doesn't really seem like a lot.

I think you aren't giving yourself enough credit.. Google says there are 9.6 million millionaire families out 117 million house so roughly 92% of the households in the US aren't millionaires.  Especially when probably a few million of those households are due primarily to inherited wealth/family businesses.

Admittedly a million isn't as much as use to be in many parts of the country it isn't enough to retire comfortably with cause of housing prices and cost of living..  Still the 1st million is definitely the hardest.

libertarian4321

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A million doesn't get you as much as it used to. Well thats what they say down here anyway. At some point in the past a million was rich/wealthy. Maybe $5m is the new $1m these days.

Yup, Robin Leach will not be calling you to do an episode of "Lifestyles of the Rich and Famous" when you hit $1 million.

Still, it's a nice cushion, and enough that most of us could go many years without working- it gives you the ability to tell your boss to go to Hell if you want to. It might not be "rich," but it's certainly well off.


nikki

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I'd smash my face in a cake and probably eat the whole cake afterwards if I hit $1M. (Actually, that's what I did when I paid off my student loans. Pretty fabulous way to celebrate.)

But the reality is I'll never have $1M. My FI goal is only half of that!

Exflyboy

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I'd smash my face in a cake and probably eat the whole cake afterwards if I hit $1M. (Actually, that's what I did when I paid off my student loans. Pretty fabulous way to celebrate.)

But the reality is I'll never have $1M. My FI goal is only half of that!

Cake/face smashing.. What a great idea..:)

otherbarry

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Yes, I never set out to reach a goal of $1M.  I've never set any dollar goals at all.  All I grew up with was that you saved money so you would have it for later.  Is part of being mustachian setting an actual dollar amount????

Not necessarily a mustachian thing but what I'm saying is since it's just a byproduct of a lifestyle you've always lived it probably doesn't seem that cool, whereas Chad McBigbucks over here is spending the majority of his 150k salary on the latest fishing boat while already owning four and struggling to pay off his 30 credit cards. Were Chad to drastically alter his lifestyle so that he would be worth 1M I'm sure he'd feel like a marathon winner.

Maybe have a goal where you buy a successful rental property or something along those lines.

randymarsh

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I'd smash my face in a cake and probably eat the whole cake afterwards if I hit $1M. (Actually, that's what I did when I paid off my student loans. Pretty fabulous way to celebrate.)

But the reality is I'll never have $1M. My FI goal is only half of that!

Not with that attitude you won't! :)

I kid, but you never know. Your expenses after FIRE might be even less you plan for, letting your stash generate even higher returns. Or some type of passive income opportunity might present itself.

Frugal Father

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I'm going to be ecstatic when I get to the $10k mark, but that might be because I'm taking my own initiative for once instead of just floating along with society. Anyway it sounds like it just sort of happened for you, maybe it would've meant more if it was a goal you had set? Perhaps using that $1M to achieve another goal (i.e. something limiting all those errands) you'd feel a better sense of accomplishment.

Yes, I never set out to reach a goal of $1M.  I've never set any dollar goals at all.  All I grew up with was that you saved money so you would have it for later.  Is part of being mustachian setting an actual dollar amount????
The reason you'll keep hearing people talk about a specific dollar amount is this article. Basically, how much money do you need to earn enough passive income to pay for your expenses. Hope that helps!
« Last Edit: July 14, 2014, 04:14:01 PM by Frugal Father »