Race from $2M to $4M...and Beyond!

[Exflyboy]

@MaybeBabyMustache Corvallis is just lovely. hundreds of forest hiking/biking trails on our doorstep. Small town feel downtown, lots of quaint shops, bars etc.

I really love the place. I think its the most educated city in the USA, liberal leaning. Crime rates are very low. The college is highly regarded for its engineering/CS programs. A buddy of mine is an early retired professor. He set up the e-campus before he retired.

The only thing that sucks is the State income tax!

[MaybeBabyMustache]

@Exflyboy - thank you! I think it would be a great fit for our son. Coming down for an admitted student day in April, so hoping to get a better sense for the town.

We're in California, so I feel you on the income tax. :-)

[SwordGuy]

Did my (mostly) monthly net worth calculation.   I'm $2,078 shy of "& Beyond" territory.

If I hadn't bought and paid for all those bookbinding tools and classes earlier in this year...

Then again, it's worth it.  My book will be the most gloriously lovely doorstop in the history of modern book publishing! 

[Bateaux]

Did my (mostly) monthly net worth calculation.   I'm $2,078 shy of "& Beyond" territory.

If I hadn't bought and paid for all those bookbinding tools and classes earlier in this year...

Then again, it's worth it.  My book will be the most gloriously lovely doorstop in the history of modern book publishing!

Our accounts swing 10s of thousands of dollars on any given day. I'm thinking you're beyond worrying about a few thousands  of dollars in a purchase. Our weekly swings can buy a premium car.
I know we're not really rich like hundreds of millions rich. But, were rich enough to see money completely different than most everyone else.

[SwordGuy]

Did my (mostly) monthly net worth calculation.   I'm $2,078 shy of "& Beyond" territory.

If I hadn't bought and paid for all those bookbinding tools and classes earlier in this year...

Then again, it's worth it.  My book will be the most gloriously lovely doorstop in the history of modern book publishing!

Our accounts swing 10s of thousands of dollars on any given day. I'm thinking you're beyond worrying about a few thousands  of dollars in a purchase. Our weekly swings can buy a premium car.
I know we're not really rich like hundreds of millions rich. But, were rich enough to see money completely different than most everyone else.

Absolutely!!!   (I was just being funny.   Or trying...)

[couponvan]

I didn’t do one this month because we are traveling-next month has DH’s annual bonus so we will get a bump unless the market swings wipe it out. The idea that we can cash flow $125K of tuition costs in a year without taking out student loans puts us in the race at the middle and treading water for the most part. We have another year of this before we can go down to just one tuition cost and then freedom….

[EscapeVelocity2020]

To be fair, 'and beyond' should 'cost' $5M according to this calculator - https://www.usinflationcalculator.com/ 

Basically, we've had 25% inflation since 2017.  Someday people will look at our 'at beyond' and be like, you can't even buy a coffee with that LOL

[lhamo]

I decided to sell a few more shares a couple of days ago as their value was already higher than what I had sold for a couple of weeks prior.  Of course yesterday they hit yet ANOTHER all time high.  "Lost" $120 by selling two days early.  Whomp whomp. 

It's fine.  I don't need to hit the market high with every adjustment.  But it sure feels nice when I do!

[Simpli-Fi]

But it sure feels nice when I do!

The stars aligned today…end of the month, looks to close at a peak, and felt I needed more cash on hand to cash flow some memory equity for my family!

Life is good.

[Bateaux]

Did my (mostly) monthly net worth calculation.   I'm $2,078 shy of "& Beyond" territory.

If I hadn't bought and paid for all those bookbinding tools and classes earlier in this year...

Then again, it's worth it.  My book will be the most gloriously lovely doorstop in the history of modern book publishing!

Our accounts swing 10s of thousands of dollars on any given day. I'm thinking you're beyond worrying about a few thousands  of dollars in a purchase. Our weekly swings can buy a premium car.
I know we're not really rich like hundreds of millions rich. But, were rich enough to see money completely different than most everyone else.

Absolutely!!!   (I was just being funny.   Or trying...)

I found it funny and have the same thoughts during a milestone moment.

[Bateaux]

To be fair, 'and beyond' should 'cost' $5M according to this calculator - https://www.usinflationcalculator.com/ 

Basically, we've had 25% inflation since 2017.  Someday people will look at our 'at beyond' and be like, you can't even buy a coffee with that LOL

5M in my mind is kind of where rich mindset starts, if not 10M
I'm still not going to run out on a whim and buy a beach house at our TNW. Even though it's now beyond.

[Exflyboy]

To be fair, 'and beyond' should 'cost' $5M according to this calculator - https://www.usinflationcalculator.com/ 

Basically, we've had 25% inflation since 2017.  Someday people will look at our 'at beyond' and be like, you can't even buy a coffee with that LOL

5M in my mind is kind of where rich mindset starts, if not 10M
I'm still not going to run out on a whim and buy a beach house at our TNW. Even though it's now beyond.

Oh, so you have to have $5M now to feel rich?.. That clearly explains why at $3.9M I still look at menu prices!...:)

[dividendman]

To be fair, 'and beyond' should 'cost' $5M according to this calculator - https://www.usinflationcalculator.com/ 

Basically, we've had 25% inflation since 2017.  Someday people will look at our 'at beyond' and be like, you can't even buy a coffee with that LOL

5M in my mind is kind of where rich mindset starts, if not 10M
I'm still not going to run out on a whim and buy a beach house at our TNW. Even though it's now beyond.

Oh, so you have to have $5M now to feel rich?.. That clearly explains why at $3.9M I still look at menu prices!...:)

You richies still eat out eh? Figures.

[2sk22]

You richies still eat out eh? Figures.

I was talking to friends recently - topic was about the cost of ordering on Doordash. I mentioned that I have never ordered on Doordash - there was stunned silence. I also mentioned that we eat out only a couple times a year other than when we are traveling. More silence :-)

Thanks to the recent upswing, our NW is up so much since November that I hesitate even to mention the amount...

[Much Fishing to Do]

To be fair, 'and beyond' should 'cost' $5M according to this calculator - https://www.usinflationcalculator.com/ 

Basically, we've had 25% inflation since 2017.  Someday people will look at our 'at beyond' and be like, you can't even buy a coffee with that LOL

5M in my mind is kind of where rich mindset starts, if not 10M
I'm still not going to run out on a whim and buy a beach house at our TNW. Even though it's now beyond.

Oh, so you have to have $5M now to feel rich?.. That clearly explains why at $3.9M I still look at menu prices!...:)

For me its definitely $5M NW....only b/c I got to $4.85M in Nov 2021 and was assuming $5M in a month.....and am just now getting back up to $4.8M....of course, when your only concern is some number on a screen, or whether it has a 88% vs 93% chance of lasting 35 years without income, you realize you are being ridiculous about what rich is...though my wife still bugs me for throwing out an empty butter container so I'm pretty sure I'm not the one with the problem....

[Exflyboy]

To be fair, 'and beyond' should 'cost' $5M according to this calculator - https://www.usinflationcalculator.com/ 

Basically, we've had 25% inflation since 2017.  Someday people will look at our 'at beyond' and be like, you can't even buy a coffee with that LOL

5M in my mind is kind of where rich mindset starts, if not 10M
I'm still not going to run out on a whim and buy a beach house at our TNW. Even though it's now beyond.

Oh, so you have to have $5M now to feel rich?.. That clearly explains why at $3.9M I still look at menu prices!...:)

For me its definitely $5M NW....only b/c I got to $4.85M in Nov 2021 and was assuming $5M in a month.....and am just now getting back up to $4.8M....of course, when your only concern is some number on a screen, or whether it has a 88% vs 93% chance of lasting 35 years without income, you realize you are being ridiculous about what rich is...though my wife still bugs me for throwing out an empty butter container so I'm pretty sure I'm not the one with the problem....

I dunno man, I think you're barely making it!..:)

[Exflyboy]

You richies still eat out eh? Figures.

I was talking to friends recently - topic was about the cost of ordering on Doordash. I mentioned that I have never ordered on Doordash - there was stunned silence. I also mentioned that we eat out only a couple times a year other than when we are traveling. More silence :-)

Thanks to the recent upswing, our NW is up so much since November that I hesitate even to mention the amount...

Thankyou.. I mean you don't want to de-motivate us under achievers..:)

[farmecologist]

I didn’t do one this month because we are traveling-next month has DH’s annual bonus so we will get a bump unless the market swings wipe it out. The idea that we can cash flow $125K of tuition costs in a year without taking out student loans puts us in the race at the middle and treading water for the most part. We have another year of this before we can go down to just one tuition cost and then freedom….

125K a year in tuition costs...ouch!  How long will that go on?

We are sooooo thankful that this is our last year of paying for college.  I think I mentioned this previously, but both kids graduate this spring!  One will be getting a masters degree from UNC chapel hill and wants to be a therapist, and one is graduating from the University on Minnesota with a physics/astrophysics double major.  We have 529's for them both...but it never seems to be enough.  We will be able to get them out of school without loans though, which was our goal from the start.

I think I also mentioned that the physics/astrophysics kid was looking for a fully paid grad school gig.  Well...he was accepted at Dartmouth and is waiting on the University of Michigan, Boston college, and a few others ( schools with good space physics PhD programs ).  The Dartmouth acceptance was the first one and was a huge load off for both him and us.  It is a fully paid PhD gig with full tuition, healthcare, and a 40K stipend.  Not too shabby!

Anyone have experience with the Dartmouth area ( New Hampshire / Vermont )?  Looks like a pretty cool location.   Boston is fairly close, as is Montreal.  As Minnesotans, we are not too familiar with the NE USA.   It has been fun visiting our daughter in Chapel Hill, NC....TONS of stuff to do within a few hour drive.

[farmecologist]

You richies still eat out eh? Figures.

I was talking to friends recently - topic was about the cost of ordering on Doordash. I mentioned that I have never ordered on Doordash - there was stunned silence. I also mentioned that we eat out only a couple times a year other than when we are traveling. More silence :-)

Thanks to the recent upswing, our NW is up so much since November that I hesitate even to mention the amount...

Thankyou.. I mean you don't want to de-motivate us under achievers..:)

No kidding on Doordash...we tried ordering it one time and were appalled at how much it costs.  Frankly, we would much rather cook and eat in rather than order food or go out to eat.  We are cheap asses through and through...even though we are right at "and beyond" territory.  We just don't like feeling like we got ripped off, etc...

Hmm..maybe being "cheap asses" is how many of us got to where we are...eh?

[Sanitary Stache]

I didn’t do one this month because we are traveling-next month has DH’s annual bonus so we will get a bump unless the market swings wipe it out. The idea that we can cash flow $125K of tuition costs in a year without taking out student loans puts us in the race at the middle and treading water for the most part. We have another year of this before we can go down to just one tuition cost and then freedom….

125K a year in tuition costs...ouch!  How long will that go on?

We are sooooo thankful that this is our last year of paying for college.  I think I mentioned this previously, but both kids graduate this spring!  One will be getting a masters degree from UNC chapel hill and wants to be a therapist, and one is graduating from the University on Minnesota with a physics/astrophysics double major.  We have 529's for them both...but it never seems to be enough.  We will be able to get them out of school without loans though, which was our goal from the start.

I think I also mentioned that the physics/astrophysics kid was looking for a fully paid grad school gig.  Well...he was accepted at Dartmouth and is waiting on the University of Michigan, Boston college, and a few others ( schools with good space physics PhD programs ).  The Dartmouth acceptance was the first one and was a huge load off for both him and us.  It is a fully paid PhD gig with full tuition, healthcare, and a 40K stipend.  Not too shabby!

Anyone have experience with the Dartmouth area ( New Hampshire / Vermont )?  Looks like a pretty cool location.   Boston is fairly close, as is Montreal.  As Minnesotans, we are not too familiar with the NE USA.   It has been fun visiting our daughter in Chapel Hill, NC....TONS of stuff to do within a few hour drive.

I have been lurking here. And now have something relevant to say, though I can’t imagine ever being in this category of wealth.

As far as Dartmouth goes, it’s my area. My wife just spent a week at the Dartmouth hospital and every time I drove there I thought “this is a palace in the mountains”. I don’t know about their astrophysics. My friend from here went to MIT for astrophysics and that seems like the place to be to me. Otherwise Dartmouth is the ideal.

I just read the book Hild which gave me the concept of a “royal Ville” which I took to mean a Kings village. Dartmouth fits the bill. It’s a place of kings and their kin. Of royals.

I think it’s the best. Listen to some Noah Khan. His music will give the essence.

[couponvan]

I didn’t do one this month because we are traveling-next month has DH’s annual bonus so we will get a bump unless the market swings wipe it out. The idea that we can cash flow $125K of tuition costs in a year without taking out student loans puts us in the race at the middle and treading water for the most part. We have another year of this before we can go down to just one tuition cost and then freedom….

125K a year in tuition costs...ouch!  How long will that go on?

We are sooooo thankful that this is our last year of paying for college.  I think I mentioned this previously, but both kids graduate this spring!  One will be getting a masters degree from UNC chapel hill and wants to be a therapist, and one is graduating from the University on Minnesota with a physics/astrophysics double major.  We have 529's for them both...but it never seems to be enough.  We will be able to get them out of school without loans though, which was our goal from the start.

I think I also mentioned that the physics/astrophysics kid was looking for a fully paid grad school gig.  Well...he was accepted at Dartmouth and is waiting on the University of Michigan, Boston college, and a few others ( schools with good space physics PhD programs ).  The Dartmouth acceptance was the first one and was a huge load off for both him and us.  It is a fully paid PhD gig with full tuition, healthcare, and a 40K stipend.  Not too shabby!

Anyone have experience with the Dartmouth area ( New Hampshire / Vermont )?  Looks like a pretty cool location.   Boston is fairly close, as is Montreal.  As Minnesotans, we are not too familiar with the NE USA.   It has been fun visiting our daughter in Chapel Hill, NC....TONS of stuff to do within a few hour drive.

This is only for two years-then it will go down to $67K for one more year. She had a Minnesota option for cheap, BUT April Fools Day last year you all had a blizzard and some crappy white frat boys were not cool to us after our rental car got stuck. Then the few Asian kids  we did see were basically alone, so it gave a weird “white kids only” vibe. The South isn’t super Asian friendly either right now, and UCSD is.

A paid graduate program is ideal! Dartmouth sounds fancy too!

[tooqk4u22]

You richies still eat out eh? Figures.

I was talking to friends recently - topic was about the cost of ordering on Doordash. I mentioned that I have never ordered on Doordash - there was stunned silence. I also mentioned that we eat out only a couple times a year other than when we are traveling. More silence :-)

Thanks to the recent upswing, our NW is up so much since November that I hesitate even to mention the amount...

Thankyou.. I mean you don't want to de-motivate us under achievers..:)

No kidding on Doordash...we tried ordering it one time and were appalled at how much it costs.  Frankly, we would much rather cook and eat in rather than order food or go out to eat.  We are cheap asses through and through...even though we are right at "and beyond" territory.  We just don't like feeling like we got ripped off, etc...

Hmm..maybe being "cheap asses" is how many of us got to where we are...eh?

At the very least I would rather save the huge mark-ups, fees, and charges and just take the 5 minutes to go get it myself.  Somebody gave us a gift card to Uber eats and what would normally have been like $25 in food required a $50 gift card - I don't get it. 

[2sk22]

Thankyou.. I mean you don't want to de-motivate us under achievers..:)

Not worried about demotivating others so much but rather that my membership in this forum will be revoked for overshooting the upper limit 😀

[farmecologist]

You richies still eat out eh? Figures.

I was talking to friends recently - topic was about the cost of ordering on Doordash. I mentioned that I have never ordered on Doordash - there was stunned silence. I also mentioned that we eat out only a couple times a year other than when we are traveling. More silence :-)

Thanks to the recent upswing, our NW is up so much since November that I hesitate even to mention the amount...

Thankyou.. I mean you don't want to de-motivate us under achievers..:)

No kidding on Doordash...we tried ordering it one time and were appalled at how much it costs.  Frankly, we would much rather cook and eat in rather than order food or go out to eat.  We are cheap asses through and through...even though we are right at "and beyond" territory.  We just don't like feeling like we got ripped off, etc...

Hmm..maybe being "cheap asses" is how many of us got to where we are...eh?

At the very least I would rather save the huge mark-ups, fees, and charges and just take the 5 minutes to go get it myself.  Somebody gave us a gift card to Uber eats and what would normally have been like $25 in food required a $50 gift card - I don't get it.

Exactly.  The Doordash fees/charges/markups are just ridiculous.   Instacart is similar...the markups on items is pretty off-putting as well.

We do often order groceries online though, and Walmart has turned out ot be a surprisingly great option.  No item markups, order pickup is free, and delivery fees are reasonable.  I'm NOT generally a fan of the in-store experience at Walmart, and we were very skeptical about online ordering at first, but it has turned out to be a great service.  More than worth it to have someone else shop for us, and the quality of produce, etc...has been very good.  I'd guess your mileage will vary, of course, depending on the area/store though.

[farmecologist]

I didn’t do one this month because we are traveling-next month has DH’s annual bonus so we will get a bump unless the market swings wipe it out. The idea that we can cash flow $125K of tuition costs in a year without taking out student loans puts us in the race at the middle and treading water for the most part. We have another year of this before we can go down to just one tuition cost and then freedom….

125K a year in tuition costs...ouch!  How long will that go on?

We are sooooo thankful that this is our last year of paying for college.  I think I mentioned this previously, but both kids graduate this spring!  One will be getting a masters degree from UNC chapel hill and wants to be a therapist, and one is graduating from the University on Minnesota with a physics/astrophysics double major.  We have 529's for them both...but it never seems to be enough.  We will be able to get them out of school without loans though, which was our goal from the start.

I think I also mentioned that the physics/astrophysics kid was looking for a fully paid grad school gig.  Well...he was accepted at Dartmouth and is waiting on the University of Michigan, Boston college, and a few others ( schools with good space physics PhD programs ).  The Dartmouth acceptance was the first one and was a huge load off for both him and us.  It is a fully paid PhD gig with full tuition, healthcare, and a 40K stipend.  Not too shabby!

Anyone have experience with the Dartmouth area ( New Hampshire / Vermont )?  Looks like a pretty cool location.   Boston is fairly close, as is Montreal.  As Minnesotans, we are not too familiar with the NE USA.   It has been fun visiting our daughter in Chapel Hill, NC....TONS of stuff to do within a few hour drive.

This is only for two years-then it will go down to $67K for one more year. She had a Minnesota option for cheap, BUT April Fools Day last year you all had a blizzard and some crappy white frat boys were not cool to us after our rental car got stuck. Then the few Asian kids  we did see were basically alone, so it gave a weird “white kids only” vibe. The South isn’t super Asian friendly either right now, and UCSD is.

A paid graduate program is ideal! Dartmouth sounds fancy too!

Well darn, bummer about your MN experience as we are usually much more welcoming.  Your experience isn't the norm.  BTW - my daughter's boyfriend is asian...they met at the University of Minnesota in their bachelors degree days.  His experience was MUCH better in Minnesota than in North Carolina.  He has had a few not so great experiences in NC involving racism, etc...

[Dicey]

I decided to sell a few more shares a couple of days ago as their value was already higher than what I had sold for a couple of weeks prior.  Of course yesterday they hit yet ANOTHER all time high.  "Lost" $120 by selling two days early.  Whomp whomp. 

It's fine.  I don't need to hit the market high with every adjustment.  But it sure feels nice when I do!

My brother recently sold a bunch of shares of his company stock and then it had a huge rally. He figures it "cost' him $125k. He's choosing to focus on what he paid for the stock. Smart guy.

[Exflyboy]

I decided to sell a few more shares a couple of days ago as their value was already higher than what I had sold for a couple of weeks prior.  Of course yesterday they hit yet ANOTHER all time high.  "Lost" $120 by selling two days early.  Whomp whomp. 

It's fine.  I don't need to hit the market high with every adjustment.  But it sure feels nice when I do!

My brother recently sold a bunch of shares of his company stock and then it had a huge rally. He figures it "cost' him $125k. He's choosing to focus on what he paid for the stock. Smart guy.

Yup you never know.. I had over $100k value in company stock options that expired worthless because the once great company was mis-managed into a shadow of its former self.

Its a tiny hit to us now but when that represented one third of our net worth, well that was a gut punch. Loss aversion, its a thing!

[ixtap]

I decided to sell a few more shares a couple of days ago as their value was already higher than what I had sold for a couple of weeks prior.  Of course yesterday they hit yet ANOTHER all time high.  "Lost" $120 by selling two days early.  Whomp whomp. 

It's fine.  I don't need to hit the market high with every adjustment.  But it sure feels nice when I do!

My brother recently sold a bunch of shares of his company stock and then it had a huge rally. He figures it "cost' him $125k. He's choosing to focus on what he paid for the stock. Smart guy.

Yup you never know.. I had over $100k value in company stock options that expired worthless because the once great company was mis-managed into a shadow of its former self.

Its a tiny hit to us now but when that represented one third of our net worth, well that was a gut punch. Loss aversion, its a thing!

DH's first employer crashed liked that.

Current employer is up over 8% since we sold the last batch of RSUs. Ah well, we funded Roth IRAs and I bonds with those proceeds, so it went to good use.

[farmecologist]

There has been some talk here recently by some of us potentially going past "the beyond" point. 

Well...I came across this thread on Bogleheads.  Gotta love threads like this.  The OP has around 10M net worth, 6M just in equities, and is wondering if he can retire.  🤣  The difference between mustachians and others can be stark!

https://www.bogleheads.org/forum/viewtopic.php?t=425958

[couponvan]

With three kids under 5 and those assets, I would move to the BEST MCOL school district in the country and then look for work in 3-6 months when the oldest starts kindergarten. Bogleheads people problems. LOL.

[Taran Wanderer]

There has been some talk here recently by some of us potentially going past "the beyond" point. 

Well...I came across this thread on Bogleheads.  Gotta love threads like this.  The OP has around 10M net worth, 6M just in equities, and is wondering if he can retire.  🤣  The difference between mustachians and others can be stark!

https://www.bogleheads.org/forum/viewtopic.php?t=425958

I don’t know, even as we pass into “Beyond” territory, DW isn’t able to have a conversation with me about RE. Shes notorious cheap, and for years we lamented her father who was frugal and retired early and has frittered away the time while his NW continues to grow, and yet as I’m shifting my mindset toward prioritizing time over money, she’s having trouble adjusting. Ah, the struggles of the rich…

[Exflyboy]

There has been some talk here recently by some of us potentially going past "the beyond" point. 

Well...I came across this thread on Bogleheads.  Gotta love threads like this.  The OP has around 10M net worth, 6M just in equities, and is wondering if he can retire.  🤣  The difference between mustachians and others can be stark!

https://www.bogleheads.org/forum/viewtopic.php?t=425958

I don’t know, even as we pass into “Beyond” territory, DW isn’t able to have a conversation with me about RE. Shes notorious cheap, and for years we lamented her father who was frugal and retired early and has frittered away the time while his NW continues to grow, and yet as I’m shifting my mindset toward prioritizing time over money, she’s having trouble adjusting. Ah, the struggles of the rich…

I know right? There really should be a Government funded support group with cash handouts to sooth the transition!.. (He says as he pays $1:15/month for a Bronze plan).

Mind you we managed to RE, but fear of spending is a real thing!

Good job my renters want to stay in my crappy trailer for the next 3 to 5 years or I don't know how we'd survive..:)

[2sk22]

The FATFire subreddit is always good for a laugh but, for a change, I actually found this discussion interesting. The question was about how UHNW lifestyles differ from merely HNW lifestyles.

In the words of one commentator, it comes down to the usual stuff: "Houses, Horses, Planes, and boats (yachts), Art. and some collector cars."

There are a few compulsive shoppers, like this one.

I'm on the edge of pulling a full reset, dumping everything but a couple cars and toys I actually use. My problem is I've always been goal oriented and when I get a financial win I buy something and need to refocus that energy into something else.
Just this week I made an extra 6 figures and was looking at buying another motorcycle tomorrow. Already have 3.

[Zamboni]

@farmecologist Dartmouth is a posh club, and it's small . . . which makes it an even posher (more posh?) club. King's village is a good description. So does your child want to meet kings? It's a place that is very much about making the connections, if one is a connector-type person.

[Fomerly known as something]

My work can bring me into the homes of UHNW individuals.  Everything is bigger.  But the biggest difference is the staff.  Having a full time staff as in multiple people to run your home is the most obvious difference.  For example, this week I was in a home associated with the founder of Oracle.  5 levels, a house keeper, a cook, and a Gardner.

[dividendman]

My work can bring me into the homes of UHNW individuals.  Everything is bigger.  But the biggest difference is the staff.  Having a full time staff as in multiple people to run your home is the most obvious difference.  For example, this week I was in a home associated with the founder of Oracle.  5 levels, a house keeper, a cook, and a Gardner.

That sounds like having a job... the exact thing I don't want.

[2sk22]

My work can bring me into the homes of UHNW individuals.  Everything is bigger.  But the biggest difference is the staff.  Having a full time staff as in multiple people to run your home is the most obvious difference.  For example, this week I was in a home associated with the founder of Oracle.  5 levels, a house keeper, a cook, and a Gardner.

That sounds like having a job... the exact thing I don't want.

And the staff probably enjoy the house more than the owner :-)

[Taran Wanderer]

Yeah, managing a house staff sounds miserable. I suppose if you had a really good butler and left everything to her, it could work. #problemsoftheultrawealthy

[EscapeVelocity2020]

We were thrust in to an interesting social experiment during our 3 year expat time in Dubai.  People from all over the world seem to 'adjust' pretty quickly to having staff when it is the expected norm.  We were pestered (and ostracized) for not taking on a nanny for our 2 children, as though our mirror to others was a bit too unpleasant, with the constant refrain 'but you are supposed to hire them, it provides them work'...  Little mention of the fact they are underpaid and have to give you their passports, while also having a very unfair legal and social dynamic stacked against them.  Yes, many staff choose 'freely' to come to the Middle East from India, Philippines, Indonesia etc. for this, but it's still repugnant to know better and still indulge - or maybe that's just a vestigial moral code.

I'm just writing all this because many people like to think they would 'hate' to have gardeners, maids, cooks, etc. but suddenly found them indispensable when the social and financial restrictions weren't there...  We did have an easier time returning to the US.  Others typically tried to continue with at least a nanny, but it became much tougher when you are the only one in your home country with one and you also have to pay them living wages, give them vacations, and allow them freedom to leave at any time.

I view the UHNW social cohort as being like a mini-Middle East...  They all have staff and the pay is a relative pittance to what they could afford.  The only thing that would keep most from having staff would be choice when surrounded by others and the expectations that it only makes sense to hire others to do certain tasks.  I've heard a million times in our neighborhood that we should stop doing our yardcare because there are so many willing Mexicans desperate for the work, and having a chef only makes sense so that we can focus more on eating well and ourselves... 

I'm honestly not sure why we have this 'Mustachian' bent while so many others with our situation (or in many cases, less NW) do not.  It hasn't always served us well in terms of fitting in and moving up the social ladder.  But it is what it is...

[dividendman]

Yeah, it is interesting.

Then again, I'm the kind of guy who leaves the house for the day when my significant other gets house cleaning (maybe once a year). I can't stand sitting around at home eating Doritos and watching re-runs of Seinfeld while someone is busting their ass cleaning my house.

[SwordGuy]

We were thrust in to an interesting social experiment during our 3 year expat time in Dubai.  People from all over the world seem to 'adjust' pretty quickly to having staff when it is the expected norm.

I spent 13 months in Ethiopia.  The house I was in came with a maid/cook and a gardener/gatekeeper.    I was also assigned a part-time driver.  (I had no car.)   This house was going to be used by multiple people after my tour of duty.   I mostly left things as they were.   

I was working massive hours (at work and then more when I got back to the house) and had zero interest or time to maintain a property I didn't own and didn't care about and was too busy to enjoy. 

I did shoo the maid/cook out of the place whenever I got home early.  Only had her cook for me once.  (She was very good!)  I just didn't like a servant puttering about the place while I was there.   

I did like having the driver, though.   Not because I liked being driven around, I don't.   I liked it because in Ethiopia, if a driver hits a pedestrian, the driver is at fault.  Period.  Ethiopian pedestrians do a lot of crazy stuff.  They never look before they enter the street.  I've seen them spin 180 degrees from a standing start facing away from the road and leap into the road - then look.   After a few days of watching those pedestrians, I had no desire whatsoever to drive in that country.

Enjoyed the place despite the hours and lack of western amenities.   

How may Ethiopians does it take to change your flat tire?

Every single one who sees you need help.  That's how many.  Good people.

[Taran Wanderer]

Every single one who sees you need help.  That's how many.  Good people.

Love this  :)

[cloudsail]

Hi everyone! Our LNW passed $2.15M yesterday, so I am joining you all in this thread. Here's to the next million!

So COVID kind of threw a wrench in our long term plans and our life changed a lot over the past few years, partly why I stopped coming to this forum. But I found this post I made over four years ago and just wanted to give an update. Our LNW is now at 6.5M. After a certain point, your money really does increase exponentially. I wouldn't have believed this ten years ago.

[Exflyboy]

Hi everyone! Our LNW passed $2.15M yesterday, so I am joining you all in this thread. Here's to the next million!

So COVID kind of threw a wrench in our long term plans and our life changed a lot over the past few years, partly why I stopped coming to this forum. But I found this post I made over four years ago and just wanted to give an update. Our LNW is now at 6.5M. After a certain point, your money really does increase exponentially. I wouldn't have believed this ten years ago.

Damn thats amazing.. Well done!

[2KidFIRE]

Hi everyone! Our LNW passed $2.15M yesterday, so I am joining you all in this thread. Here's to the next million!

So COVID kind of threw a wrench in our long term plans and our life changed a lot over the past few years, partly why I stopped coming to this forum. But I found this post I made over four years ago and just wanted to give an update. Our LNW is now at 6.5M. After a certain point, your money really does increase exponentially. I wouldn't have believed this ten years ago.

Congratulations, that's amazing!

I was just doing my annual update to our Case Study and realized that as of the end of February we'd crossed into the "and beyond" territory and I hadn't even realized it!  I'm sure that will change again, maybe even this month, but it's still startling to see :)

[pecunia]

Hi everyone! Our LNW passed $2.15M yesterday, so I am joining you all in this thread. Here's to the next million!

So COVID kind of threw a wrench in our long term plans and our life changed a lot over the past few years, partly why I stopped coming to this forum. But I found this post I made over four years ago and just wanted to give an update. Our LNW is now at 6.5M. After a certain point, your money really does increase exponentially. I wouldn't have believed this ten years ago.

Congratulations, that's amazing!

I was just doing my annual update to our Case Study and realized that as of the end of February we'd crossed into the "and beyond" territory and I hadn't even realized it!  I'm sure that will change again, maybe even this month, but it's still startling to see :)

We crossed there too.  However, it's not stable up in these stratospheric heights.  A lot of countries are in recession and I expect the US will follow.  The stock market will go through a "correction."  I guess being in these heights needs to be "corrected."

[Dicey]

Hi everyone! Our LNW passed $2.15M yesterday, so I am joining you all in this thread. Here's to the next million!

So COVID kind of threw a wrench in our long term plans and our life changed a lot over the past few years, partly why I stopped coming to this forum. But I found this post I made over four years ago and just wanted to give an update. Our LNW is now at 6.5M. After a certain point, your money really does increase exponentially. I wouldn't have believed this ten years ago.

Congratulations, that's amazing!

I was just doing my annual update to our Case Study and realized that as of the end of February we'd crossed into the "and beyond" territory and I hadn't even realized it!  I'm sure that will change again, maybe even this month, but it's still startling to see :)

We crossed there too.  However, it's not stable up in these stratospheric heights.  A lot of countries are in recession and I expect the US will follow.  The stock market will go through a "correction."  I guess being in these heights needs to be "corrected."

Perhaps it won't. Nobody knows. Best of all, it really doesn't matter.

[Much Fishing to Do]

My NW has finally returned to its Nov 2021 highs of $4.9M.  There's been a lot of spending (mainly remodeling cabin from the ground up) but the international component of my investments (which has seriously underperformed the US for a long while now) is the main reason it took so long. Like 3 years ago I'm on $5M watch again...

[ixtap]

The talk of whether or not we stay above certain milestones inspired me to run some numbers. Even a 30% drop in portfolio value (and no, we are not 100% equities) would leave us in a decent place. I am still amazed at the options we have lined up for ourselves.

[lhamo]

My retirement accounts are inching closer and closer to 1 mill.  Top is in, maybe?  I hope not...