[Poll] Real Household Savings
- Thread starter pisa
- Start date
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"Now I know, when we have accumulated sufficient wealth to last our lifetime, we should pursue other matters that are unrelated to wealth?
Should be something that is more important:
Perhaps relationships, perhaps art, perhaps a dream from younger days.
Non-stop pursuing of wealth will only turn a person into a twisted being, just like me."
God gave us the senses to let us feel the love in everyone?s heart, not the illusions brought about by wealth.
The wealth I have won in my life I cannot bring with me. What I can bring is only the memories precipitated by love.
That?s the true riches which will follow you, accompany you, giving you strength and light to go on."
- Steve Jobs
Understanding the number is one thing. Understanding the 2nd number that provides the inflation adjusted first number for the duration of the third number plus the fourth number, is eye opening. Not to mention subject to some wild expectations.
It all comes back to how much do you need to spend to be fulfilled when you have semi-unlimited leisure time on your hands.
I suspect most are grossly over estimating their future spending in retirement on entertainment, travel, etc and under estimating future medical expenditures.
At my previous workplace, I had a manager who'd keep cash position in non-retirement account for years. For his retirement account he'd invest in mix of mutual funds. But for non-retirement account he'd sit on his cash and wait for stock market crash.
During the time that I worked with him, he invested after the dot-com bubble bust in early 2000's, then again after the 2008-2009 crash. He'd only invest in profitable companies that he liked. It worked for him and he retired early.
With CD's, short term treasury, and money market funds you could offset inflation somewhat. I did not use his method and bought real estate instead.
woodburyowner
Well-known member
This poll got me to do the number crunching and I'm actually higher than I thought (the crazy stock market bull run really helped the retirement accounts). I did take into account my investment properties by taking the current value and subtracting the debt.
panda
Well-known member
"Now I know, when we have accumulated sufficient wealth to last our lifetime, we should pursue other matters that are unrelated to wealth?
Should be something that is more important:
Perhaps relationships, perhaps art, perhaps a dream from younger days.
Non-stop pursuing of wealth will only turn a person into a twisted being, just like me."
God gave us the senses to let us feel the love in everyone?s heart, not the illusions brought about by wealth.
The wealth I have won in my life I cannot bring with me. What I can bring is only the memories precipitated by love.
That?s the true riches which will follow you, accompany you, giving you strength and light to go on."
- Steve Jobs
nosuchreality
Well-known member
rkp said:
Understanding the number is one thing. Understanding the 2nd number that provides the inflation adjusted first number for the duration of the third number plus the fourth number, is eye opening. Not to mention subject to some wild expectations.
It all comes back to how much do you need to spend to be fulfilled when you have semi-unlimited leisure time on your hands.
I suspect most are grossly over estimating their future spending in retirement on entertainment, travel, etc and under estimating future medical expenditures.
Re-polling for new data.
Replies from two years ago.
What is your net worth excluding primary residence equity?
<$250k - 13 (22.8%)
$250k to $500k - 10 (17.5%)
$500k to $1 million - 9 (15.8%)
$1 million to $2 million - 13 (22.8%)
$2 million to $3 million - 3 (5.3%)
$3 million to $5 million - 6 (10.5%)
$5 million to $10 million - 0 (0%)
$10 million to $25 million - 1 (1.8%)Homie status
(>$25 million) - 2 (3.5%)
Replies from two years ago.
What is your net worth excluding primary residence equity?
<$250k - 13 (22.8%)
$250k to $500k - 10 (17.5%)
$500k to $1 million - 9 (15.8%)
$1 million to $2 million - 13 (22.8%)
$2 million to $3 million - 3 (5.3%)
$3 million to $5 million - 6 (10.5%)
$5 million to $10 million - 0 (0%)
$10 million to $25 million - 1 (1.8%)Homie status
(>$25 million) - 2 (3.5%)
momopi
Well-known member
paydawg said:
At my previous workplace, I had a manager who'd keep cash position in non-retirement account for years. For his retirement account he'd invest in mix of mutual funds. But for non-retirement account he'd sit on his cash and wait for stock market crash.
During the time that I worked with him, he invested after the dot-com bubble bust in early 2000's, then again after the 2008-2009 crash. He'd only invest in profitable companies that he liked. It worked for him and he retired early.
With CD's, short term treasury, and money market funds you could offset inflation somewhat. I did not use his method and bought real estate instead.
aquabliss
Well-known member
So what was his trigger to move from cash to equities. S&P down 20%, 30%, 50%? Sounds easy when casually discussing it but also very difficult to determine the "crash" at near bottom levels.
Would he have invested in late December 2018 or not enough of a crash for him?
Would he have invested in late December 2018 or not enough of a crash for him?