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Suppose you are 56, facing retirement in ten years, you worked hard all of your life and were lucky enough to make in the $350k range since your mid-40's. You've managed to save $2M for retirement. With today's lifespans, you probably will need 20-25 years worth of income. For most people in this group, their lifetime dream has been to retire and enjoy the same lifestyle they had while working - possibly adding the travel that they never had the time to do. Yes, you bet they worry about running out of assets before dying and having to reduce their lifestyle considering they don't know if the economy will tank again or not. This group isn't being greedy. They weren't complaining. They were asked if they felt rich, and I think their answer makes sense.
 

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Suppose you are 56, facing retirement in ten years, you worked hard all of your life and were lucky enough to make in the $350k range since your mid-40's. You've managed to save $2M for retirement. With today's lifespans, you probably will need 20-25 years worth of income. For most people in this group, their lifetime dream has been to retire and enjoy the same lifestyle they had while working - possibly adding the travel that they never had the time to do. Yes, you bet they worry about running out of assets before dying and having to reduce their lifestyle considering they don't know if the economy will tank again or not. This group isn't being greedy. They weren't complaining. They were asked if they felt rich, and I think their answer makes sense.


yes, obviously.

But the problem is....

For many, you earn more, you want more, and there's always a bigger fish, hence you never really feel wealthy since you keep running into and hearing about others with more bank than you.

For most people...
The thought of burning up cash with out replacing it,...


....Is just insane...

And you burn cash faster when retired....

Sooooooo


unless your assets/equity generate enough funds for you to continue living your current level of wealth lifestyle... :rolleyes: .... you need to come to terms with the same simple fact that all the wealthy and right wingers (and me....:thumbsup:) observe and preach....

Spend according to what you can afford, and budget and conserve....

Problem is.........




Who wants to reduce their lifestyle?............



At all?.........




.........Ever?.............



"Yes, you bet they worry about running out of assets before dying and having to reduce their lifestyle ...."


Soooo...

welcome to the real world......
 

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Suppose you are 56, facing retirement in ten years, you worked hard all of your life and were lucky enough to make in the $350k range since your mid-40's. You've managed to save $2M for retirement. With today's lifespans, you probably will need 20-25 years worth of income. For most people in this group, their lifetime dream has been to retire and enjoy the same lifestyle they had while working - possibly adding the travel that they never had the time to do. Yes, you bet they worry about running out of assets before dying and having to reduce their lifestyle considering they don't know if the economy will tank again or not. This group isn't being greedy. They weren't complaining. They were asked if they felt rich, and I think their answer makes sense.
Gee Tex... If I would have saved EVERY $ I made in my 30.8 yrs of working it would have been barely over $1M !!!!

I hurt for you poor rich folk !!

:WTF
 

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I think placing an asset value versus an income value on a question like this is flawed. Like Tex said someone my seem to have a lot of money but if they plan on spreading that out over a long period of time it may not be that much per year. I do think however 7M is way beyond what I would need to feel rich.
 

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Gee Tex... If I would have saved EVERY $ I made in my 30.8 yrs of working it would have been barely over $1M !!!!

I hurt for you poor rich folk !!

:WTF
Looking at your avatar and driving that CTS V-- some might say the same about you-- it's a matter of perspective...
 

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Looking at your avatar and driving that CTS V-- some might say the same about you-- it's a matter of perspective...
My avatar is from the Lingenfelter website and my V is a used 2006 that I traded my 01 vette for. Does that make me rich ??

:smack
 

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Suppose you are 56, facing retirement in ten years, you worked hard all of your life and were lucky enough to make in the $350k range since your mid-40's. You've managed to save $2M for retirement. With today's lifespans, you probably will need 20-25 years worth of income. For most people in this group, their lifetime dream has been to retire and enjoy the same lifestyle they had while working - possibly adding the travel that they never had the time to do. Yes, you bet they worry about running out of assets before dying and having to reduce their lifestyle considering they don't know if the economy will tank again or not. This group isn't being greedy. They weren't complaining. They were asked if they felt rich, and I think their answer makes sense.


by the way...

just a side note...

On my earlier post...


When I said "you" .....I was generalizing, and didn't mean "YOU" you...but you as in You, I, We, They...ect....:D :cheers:
 

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My avatar is from the Lingenfelter website and my V is a used 2006 that I traded my 01 vette for. Does that make me rich ??

:smack
Richer then me... You rich bastards are the reason I don't have more money. You don't give a **** about we little guys. ;)
 

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Gee Tex... If I would have saved EVERY $ I made in my 30.8 yrs of working it would have been barely over $1M !!!!

I hurt for you poor rich folk !!

:WTF
Whoa! That person is not me. I was just pointing out that these people were asked if they felt rich, and many didn't. That seemed to push Dune's button, so I was pointing out that it is possible and reasonableto have far more than the average person and still feel some financial insecurity. I don't think those people deserve a hard time, that's all.:thumbsup:
 

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Gee Tex... If I would have saved EVERY $ I made in my 30.8 yrs of working it would have been barely over $1M !!!!

I hurt for you poor rich folk !!

:WTF
Averaving $33,000 a year. Wow some union you got there:crazy: How do you afford a Vette on that pittentce?
 

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Averaving $33,000 a year. Wow some union you got there:crazy: How do you afford a Vette on that pittentce?
When I started my UNION job in 1968 I only made around $3 an hour.

I no longer have a Vette, can't afford it !

:thumbsup:
 

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No.

it made me laugh at people's perspectives....:laughing:


Billionaires cry when they lose money too...:laughing:

The article was sneering at those well-heeled people because they evaluated their wealth by comparing their situation to others. Of course, that's what we are doing in this thread. We are comparing ourselves to those who have a few million and think it's laughable that they feel insecure. But it really does take a lot of money for anyone to feel secure that nothing could ever happen that would leave them hurting financially. The hard times we have been through recently have amplified those worries. :thumbsup:
 

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The article was sneering at those well-heeled people because they evaluated their wealth by comparing their situation to others. Of course, that's what we are doing in this thread. We are comparing ourselves to those who have a few million and think it's laughable that they feel insecure. But it really does take a lot of money for anyone to feel secure that nothing could ever happen that would leave them hurting financially. The hard times we have been through recently have amplified those worries. :thumbsup:
You are correct sir. Controlled by emotion. Envy. What the envious forget is those people spend their money in the open market place. They create work for us poor people. So the choice is they can continue to create jobs the way it's meant to be or just let the government take more and piss it away through some silly program.
 
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