Anybody feel like the incentive to earn tons of money no longer exists?

[meanstringbean]

"Easily retire comfortably without even considering money on $2M" = no way.

This is why people think you are a fraud when in other threads you post how you could make $400k this year blah blah blah.
One health issue and you are set back majorly.
$8300 a month is comfortably humble living but by no means would you "not consider" money. LOlz

Dont disagree at all. 2M is certainly enough to retire on and have a good life, but you cant go blind consoomer like people think you can once rich. Your life likely is:

- Driving a several year old Camry/Civic
- Living in a MCOL area
- Kids , if you have any, are either low expense or already on own
- You can go out to eat but cant do it every night or at every restaurant
- You can go on a lot of trips but cant stay at the nicer resorts
- You arent actively buying things you dont need like new grills, tv, furniture except for once every few months

Misc will chit on that life but it can actually be a very good life, especally if you have the freedom to do whatever you want and can pursuit what ever you want professionally (that doesnt require loads of capital). You can FIRE on $2M and not stress about money easy, you just have to be concious of it.

If that $2M is on top of a paid for house then you actually have quite a bit more leeway and can live a quasi upper middle class lifestyle with it

[donblaximus]

Dont disagree at all. 2M is certainly enough to retire on and have a good life, but you cant go blind consoomer like people think you can once rich. Your life likely is:

- Driving a several year old Camry/Civic
- Living in a MCOL area
- Kids , if you have any, are either low expense or already on own
- You can go out to eat but cant do it every night or at every restaurant
- You can go on a lot of trips but cant stay at the nicer resorts
- You arent actively buying things you dont need like new grills, tv, furniture except for once every few months

Misc will chit on that life but it can actually be a very good life, especally if you have the freedom to do whatever you want and can pursuit what ever you want professionally (that doesnt require loads of capital). You can FIRE on $2M and not stress about money easy, you just have to be concious of it.

If that $2M is on top of a paid for house then you actually have quite a bit more leeway and can live a quasi upper middle class lifestyle with it

I am completely aligned. You can definitely retire and be comfortable (assuming a few things like you own your home, you dont owe $40k a year in real estate tax on said home, etc, and of course your age and health)
Slight adjustment would be that you could travel but would have to do it on a budget (if you have a family) - With prices these days I think even mid tier hotels would be out of the question. The Westin in Los Angeles is $500-600 a night these days and i wouldnt consider that nice. You would most likely be staying in the Courtyard marriott or the springhill suites.

[DustinTheHuss]

If you're on salary or hourly where they don't pay overtime, then what else are you doing other than to purchase properly and rent it out, which is a hassle and not a lot of us have that money sitting in the bank. My money is sitting in my house.

So where is the incentive? For what??? A promotion??

Retirement is overrated. We weren't meant to sit around and do nothing with our time, or always spend it doing fun things.

I say that as someone who's basically been semi-retired for the past five years. Job that requires 5-10 hours/week remotely. You eventually go through so many hobbies, tv shows, movies, video games, that you just want to be productive.

That being said - my plan is to own my home by 45 or so, keep my job for 10 years, and then retire by 55. Easy life.

I wish I could retire by 55 . Two and a half more years. But I've owned a home since age 26.

I could if I moved to Florida, paid for my house in cash and just would have property taxes and homeowner's insurance. But then I'd need to work part-time at least to pay for that, plus food, gas, electricity, etc. I love it there but what about my parents and friends? It's not that easy to just leave a state you grew up in and you have no clue what type of jobs are there except searching online. I couldn't believe how much traffic there was in Tampa.

Keep in mind the longer you work the more Social Security you'll get as well. That's leaving money on the table that you could need if you go into a nursing home.

[meanstringbean]

I am completely aligned. You can definitely retire and be comfortable (assuming a few things like you own your home, you dont owe $40k a year in real estate tax on said home, etc, and of course your age and health)
Slight adjustment would be that you could travel but would have to do it on a budget (if you have a family) - With prices these days I think even mid tier hotels would be out of the question. The Westin in Los Angeles is $500-600 a night these days and i wouldnt consider that nice. You would most likely be staying in the Courtyard marriott or the springhill suites.

Yea travel with family gets expensive quick. If you have kids then thats more mouths to feed. If you have a spouse then she likely has some standards to expect even if she is a low maintenance person lol

In my 20s I was able to do weeklong trips to different countries in europe, south america, Iceland, etc. and spend like $1,000 out of pocket total. If you are flexible based on where flight deals take you, are fine staying in hostels (recommend to single guys in 20s but not as fun when older), and basically just backpack it then you can do A LOT on this planet with little money. And it's not like you are limiting yourself on trips either. Still can go to clubs, bars, ingrain yourself with the culture, do activities like hike around, hook up with chicks, etc. it's awesome

If you were an older bachelor and enjoy the roughing it lifestyle then you can do and see a lot more than people think. But like you said, it's pretty modest conditions

[OliverHeldens]

"Easily retire comfortably without even considering money on $2M" = no way.

This is why people think you are a fraud when in other threads you post how you could make $400k this year blah blah blah.
One health issue and you are set back majorly.
$8300 a month is comfortably humble living but by no means would you "not consider" money. LOlz

You have to remember, I'm not married and have no kids. These things increase your financial needs 10x. As a single guy, with $2M you can move to Brazil and live an 8/10 life for like $2500/mo. This involves having multiple girlfriends and not working and focusing on hobby activities permanently. Sure, if you're saving for $100k tuition or a bunch of other things, $2M isn't enough.

[DustinTheHuss]

I am completely aligned. You can definitely retire and be comfortable (assuming a few things like you own your home, you dont owe $40k a year in real estate tax on said home, etc, and of course your age and health)
Slight adjustment would be that you could travel but would have to do it on a budget (if you have a family) - With prices these days I think even mid tier hotels would be out of the question. The Westin in Los Angeles is $500-600 a night these days and i wouldnt consider that nice. You would most likely be staying in the Courtyard marriott or the springhill suites.

I totally travel on a budget. I should sell a book on this.

I think OP stays in hostels which are even cheaper.

I sell wedding presents on eBay to pay for my trips. Everyone around me thinks I'm totally rich because I have all of these traveling photos, which is a little scary when I ask for a raise at work.

I don't pay more than $120 a night for any hotel--that includes on the beach in Phuket, Thailand, outside of Rome on the beach, Munich, New Orleans, Florida, etc.

I couldn't believe Expedia had a tennis and golf resort in Florida during spring break which was like something out of a dream with ponds, bridges and the view of the trees for $118 a night. It was even a one bedroom suite--perfect for working as I worked the entire trip remote.

Now this is traveling solo. I realize that with a family it's much more expensive, and I'm usually staying outside of the main city because I don't like crowds of tourists, but that also means more $$ in Uber/Lyft charges.

It's important to travel before you get too old and I have spine degeneration from 40 years of tennis on hard courts. I feel it from the suitcases. My parents waited until they retired and then my Dad couldn't go with a walker as he ran 10 miles a day, 7 days a week. So sad......

[donblaximus]

You have to remember, I'm not married and have no kids. These things increase your financial needs 10x. As a single guy, with $2M you can move to Brazil and live an 8/10 life for like $2500/mo. This involves having multiple girlfriends and not working and focusing on hobby activities permanently. Sure, if you're saving for $100k tuition or a bunch of other things, $2M isn't enough.

Quit moving the conversation around to make it look like you know what you are talking about.
We are talking about retiring in first world countries like the US, UK, etc since that is where most posters here are from.
Kids or no kids.....$2M isnt enough to live "WITHOUT CONSIDERING MONEY".......even in Brazil. My kids do BJJ and we have many many friends that are from Brazil. No way you are balling out of countrol on $2M over there.

Quit talking out of your arse.

[DrunkonMilk]

What do you mean $2mm liquid? Keeping that much money in cash loses you money every year unless you have a net worth of $30+mm keeping the rest in investments. Even then, keeping that much in cash probably isn’t very smart.

[donblaximus]

I totally travel on a budget. I should sell a book on this.

I think OP stays in hostels which are even cheaper.

I sell wedding presents on eBay to pay for my trips. Everyone around me thinks I'm totally rich because I have all of these traveling photos, which is a little scary when I ask for a raise at work.

I don't pay more than $120 a night for any hotel--that includes on the beach in Phuket, Thailand, outside of Rome on the beach, Munich, New Orleans, Florida, etc.

I couldn't believe Expedia had a tennis and golf resort in Florida during spring break which was like something out of a dream with ponds, bridges and the view of the trees for $118 a night. It was even a one bedroom suite--perfect for working as I worked the entire trip remote.

Now this is traveling solo. I realize that with a family it's much more expensive, and I'm usually staying outside of the main city because I don't like crowds of tourists, but that also means more $$ in Uber/Lyft charges.

It's important to travel before you get too old and I have spine degeneration from 40 years of tennis on hard courts. I feel it from the suitcases. My parents waited until they retired and then my Dad couldn't go with a walker as he ran 10 miles a day, 7 days a week. So sad......

We just came from Rome. A room on the beach is like 30 minutes away from the historic district correct?
A decent room in the historic district was $5-600 a night. Thats just something in a good location and clean. Luxury rooms were like $1700 a night.

[OliverHeldens]

Quit moving the conversation around to make it look like you know what you are talking about.
We are talking about retiring in first world countries like the US, UK, etc since that is where most posters here are from.
Kids or no kids.....$2M isnt enough to live "WITHOUT CONSIDERING MONEY".......even in Brazil. My kids do BJJ and we have many many friends that are from Brazil. No way you are balling out of countrol on $2M over there.

Quit talking out of your arse.

Obviously you can’t buy a yacht and such, I never said that’s included. But for comparison’s sake, I went out to one of the nicest restaurants in São Paulo, with is by far the wealthiest place in Brazil. 40th floor rooftop. Ended up getting two bottles of Dom Perignon, sushi, cocktails, steak with this chick I was dating. In NYC, we’re taking about a meal that would be $1000+. In São Paulo it was like $120 and no tipping.

[Silence2]

While I agree they are worlds apart, $2M is easily FIRE unless you are a braindead consoomer.

This

It’s more than enough unless you’re super materialistic and status oriented.

[SuperHercules]

It's because you can do anything these days even as a poorcel

Unless you're ugly, there's no reason to obsess over getting rich

[donblaximus]

Obviously you can’t buy a yacht and such, I never said that’s included. But for comparison’s sake, I went out to one of the nicest restaurants in São Paulo, with is by far the wealthiest place in Brazil. 40th floor rooftop. Ended up getting two bottles of Dom Perignon, sushi, cocktails, steak with this chick I was dating. In NYC, we’re taking about a meal that would be $1000+. In São Paulo it was like $120 and no tipping.

Yes I understand this....as I just came from Rome with my family and the food was very reasonable. But cost of food is not the end all be all gauge for living.
In your post you stated "live without considering money"
You could hardly live without considering money in a first world country with $2M.

[OliverHeldens]

Yes I understand this....as I just came from Rome with my family and the food was very reasonable. But cost of food is not the end all be all gauge for living.
In your post you stated "live without considering money"
You could hardly live without considering money in a first world country with $2M.

I'm saying you have $2M in a 5% interest bearing account. That's 100k per year. That's enough to have multiple girlfriends and go to some of the best world beaches every day and eat out every meal and socialize as much as you want. Honestly, what the fuk else do you want in retirement?

[Destor]

My lifestyle feels pretty much maxxed at this point, I just need a Koenigsegg

But more money won’t measurably change my lifestyle or happiness, I’m all about the pursuit of knowledge/understanding and challenges to be conquered

[meanstringbean]

It's because you can do anything these days even as a poorcel

Unless you're ugly, there's no reason to obsess over getting rich

I like this mindset. TBH a lot of consumer spending is just ugly loser cope.

They know deep down they aren't hot, attractive, cool, or original. But, thanks to the marketing, they can borrow that feeling for a brief amount of time buying the latest LV bag, jewlery, sports car, Rolex, designer clothes, etc. Its just creating insecurity and then capitalizing on it.

Fortunately am tall, jacked, NW0, and attractive so never had this need and have gotten attention my entire adult life from women even if Im wearing $5 shirt from TJ Maxx but hey it fits well and shows off the pecs and end of day that's all that matters.

Spending $$$ is great if it fuels legitimate interests and experiences that are exclusive to being poor or if it buys you more time to do those things. You can do hella awesome ski trips, cycling tours, mountaineering expeditions, or buying things like real estate investments with money that open you up to a pretty fulfilling and awesome life. But for 90% of Americans who just earn more and then consoooooom on pointless chit they dont need (ex: anyone that owns a Stanley water bottle) they cant have all the money in the world but at the end of the day have the mentality of a lower class individual

[OliverHeldens]

I totally travel on a budget. I should sell a book on this.

I think OP stays in hostels which are even cheaper.

I sell wedding presents on eBay to pay for my trips. Everyone around me thinks I'm totally rich because I have all of these traveling photos, which is a little scary when I ask for a raise at work.

I don't pay more than $120 a night for any hotel--that includes on the beach in Phuket, Thailand, outside of Rome on the beach, Munich, New Orleans, Florida, etc.

I couldn't believe Expedia had a tennis and golf resort in Florida during spring break which was like something out of a dream with ponds, bridges and the view of the trees for $118 a night. It was even a one bedroom suite--perfect for working as I worked the entire trip remote.

Now this is traveling solo. I realize that with a family it's much more expensive, and I'm usually staying outside of the main city because I don't like crowds of tourists, but that also means more $$ in Uber/Lyft charges.

It's important to travel before you get too old and I have spine degeneration from 40 years of tennis on hard courts. I feel it from the suitcases. My parents waited until they retired and then my Dad couldn't go with a walker as he ran 10 miles a day, 7 days a week. So sad......

How often you getting piped on these trips? Locals or other tourists?

[Luc1fer]

Dont disagree at all. 2M is certainly enough to retire on and have a good life, but you cant go blind consoomer like people think you can once rich. Your life likely is:

- Driving a several year old Camry/Civic
- Living in a MCOL area
- Kids , if you have any, are either low expense or already on own
- You can go out to eat but cant do it every night or at every restaurant
- You can go on a lot of trips but cant stay at the nicer resorts
- You arent actively buying things you dont need like new grills, tv, furniture except for once every few months

Misc will chit on that life but it can actually be a very good life, especally if you have the freedom to do whatever you want and can pursuit what ever you want professionally (that doesnt require loads of capital). You can FIRE on $2M and not stress about money easy, you just have to be concious of it.

If that $2M is on top of a paid for house then you actually have quite a bit more leeway and can live a quasi upper middle class lifestyle with it

Sounds about right. $2M at 3.5% SWR (assuming retiring young) = $70k per year gross

3% SWR would be safer, ~$5k per month.

[buwbs]

How to pay kendal jenner & Ashley sky to fart in my face

I want them to do it because they like me not because i paid them lol

[Retoaded]

OP said 2 million LIQUID lol.

Only a billionaire has 2 million laying around liquid.

[Luc1fer]

OP said 2 million LIQUID lol.

Only a billionaire has 2 million laying around liquid.

Liquid would include a public equity sale, you could have the cash within a couple of days.

[Redundanteater]

Basically once you reach a certain net worth nowadays, it seems like there is almost zero incentive to keep going. I'd say the number is something like $2M liquid. It's not like there's some great thing out there waiting for you if you make the jump from $2M to $10M anymore.

Personally I like earning money, so I keep pushing hard. But once you can kinda do whatever you want in a modest fashion without having to worry about money, there's almost no point. Maybe this is just Bidenomics making me melancholy? Do I really want to keep pushing in order to potentially buy a $2M house someday? Do I want to keep pushing so I can meet a golddigger female, after already having fuked many and deciding that I'm not interested? Not really.

There's actually a pretty big difference between 2M and 10M. At 10M if you have half a brain you can essentially be "set for life" at a reasonably comfortable lifestyle almost anywhere. 2M you can easily burn through, depending on age and frugality.

[AWillis]

If people took only what they needed, and thought of others before doing things, life for everyone would be much better. My financial problems ended when I got my first $50k a year job. Everything past that has been just gravy. All I want is to be comfortable, and I certainly don't need $50 million to be comfortable. I doubt I'll ever get anywhere near that, but I'm also not working towards that or even thinking about it.

a lot of gravy to hit 280

it's nice to have a ton of cash if you are young and want to have a big family. the more you have the more free time you have down the road. and doing things requires little worry for spending.

taking 4 kids to Mexico and the wife isn't cheap. or Europe for a 3 week vacation?

need to have some nice cashflow or a decent amount in the bank

[eddiehaskell]

my aunt and uncle are sensible people that went from around 1m net worth at 35 to 10m near 70. their lifestyle changed very little. they live in the same house (~2500 sq ft) he drives a 6-7k suv and she drives a $15k suv. they eat out a lot but they always did that. same sorta clothes they've always worn. only thing that changed is they spend more on their kids...like paying for $10k+ vacations, $40k wedding, etc.

[Basedbaby]

Get with the times boomer
looksmaxing>moneymaxing

[guest89]

I think a lot of it just depends on life-style. I'm debt free aside from a very cheap mortgage. Have pretty much everything I want. And I'm on track to acquire a few other things I want in the future.

Assuming I made 10X my current income I can't see my life-style changing 'that' much. I'd buy a nicer/bigger primary home. I'd have 3 or 4 boats instead of 1. I'd probably have 3 motorcycles instead of 1. I might trade in my truck for a brand new one. I might also toss a sports car in the garage. I'd pick up that second lake house I've been wanting, immediately. I'll eventually get all of those items while remaining debt free. But if I had **** ton of money. I'd just buy them immediately, at once, and enjoy them.


But overall. Not much else would really change. I enjoy the hell out of my life. The only thing I 'really' need now is free time and a passive income to enjoy it.

if you have 10 million you would be better off just renting a boat and paying for charter flights instead of buying a plane. you will make enough per year off passive income to afford that easily. buying a plane is a huge waste of money. same for an expensive boat.

You can buy small planes for relatively decent prices. And its not that expensive to maintain them. I know a few guys that own planes and they only make about 120-130k per year. As far as boats. Assuming you know just a little bit about care and maintenance. They aren't that bad either. I've been having a boat for years and I've thoroughly enjoyed it. The old saying that a boat is hole in the water you throw your money into only applies to people that don't know anything about boats.


10 million is more then enough to buy an amazing boat and a small plane. And to cover fuel/maintenance/upkeep on them. There is a big difference between buying a boat and plane you captain yourself. And buying a jet and yacht that you need to hire a pilot/captain/staff for.

[aranadiscoteca]

I want someone to take the other side. And argue the fact that there is some massive benefit to having a $50m net worth when you already have $3m

Personally, once I didn't have to worry anymore, I've found a lot more valiue in improving my social interactions with people than earning additional money.

$3m is not enough to truly never have to worry. $50m is.

[aranadiscoteca]

Dont disagree at all. 2M is certainly enough to retire on and have a good life, but you cant go blind consoomer like people think you can once rich. Your life likely is:

- Driving a several year old Camry/Civic
- Living in a MCOL area
- Kids , if you have any, are either low expense or already on own
- You can go out to eat but cant do it every night or at every restaurant
- You can go on a lot of trips but cant stay at the nicer resorts
- You arent actively buying things you dont need like new grills, tv, furniture except for once every few months

Misc will chit on that life but it can actually be a very good life, especally if you have the freedom to do whatever you want and can pursuit what ever you want professionally (that doesnt require loads of capital). You can FIRE on $2M and not stress about money easy, you just have to be concious of it.

If that $2M is on top of a paid for house then you actually have quite a bit more leeway and can live a quasi upper middle class lifestyle with it

This. $2-3m gives you a comfortable lower middle class life.

[donblaximus]

I'm saying you have $2M in a 5% interest bearing account. That's 100k per year. That's enough to have multiple girlfriends and go to some of the best world beaches every day and eat out every meal and socialize as much as you want. Honestly, what the fuk else do you want in retirement?

Uhhh you would take out taxes number 1
Then healthcare
Then a place to live and the taxes on that
Then you would need to book flights to travel to all of these "world beaches"
And since you said "without considering money" I imagined you would be flying Ryan focking air and being delayed half the time since time is money
$100k a year is hardly "live without considering money"

You are a fraud since you talk about making $4-500k a year. You could easily amass $2M with that income. So why not just do it vs sitting on the internet thinking about it?

[OliverHeldens]

This. $2-3m gives you a comfortable lower middle class life.

lol, the only way this is true is if you have a gold digging wife.