re: Is $1 million a lot of money in 2019?

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I see what you're getting at and I agree with the general premise, but half of American households don't have 1k in a savings account and I think we would agree that's not a lot of money.


This stat, while true, is so incredibly mind-blowing to me. I cannot fathom.

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Was watching CNBC Thursday mid day and they were talking about Americans finances. While I am not debating the accuracy of the above statement, CNBC host stated a new report found the 58% of working Americans have three months of emergency savings, which is the highest it has been since before the Great Recession started.

There are two different Americas.

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I think I'd want $1.5 minimum, and I'm not really a big spender.

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This is my goal. I'm close, hopefully my last 3-4 working years will get me there in my retirement accounts. I think with that, and my personal savings, I will be able to live as comfortable as I want to be with money to spare. It won't be extravagant, but that isn't me anyway.

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This stat, while true, is so incredibly mind-blowing to me. I cannot fathom.

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to us yes, because we are like minded people here. hard workers,self educated and school educated, driven, hungry, entrepreneurial, investors, traders, gamblers etc.

people are naturally lazy as frick. go walk into a wal mart or dollar general. take notice of many of the clientele. that is your live paycheck to paycheck crowd, uneducated, lazy, no drive sucking government tit, etc.

It depends on if you have a million or not.

I've got 30 more years to hit my goal of 5 million.

Big expenses for working people:

1. Retirement savings
2. Mortgage

In retirement these go down but these go up:

1. Health related expenditures
2. I’m sure there are others

I think many people would do fine with one million.
25 years of 40k withdrawals if growth has a zero.

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Probably would be nice to have a dedicated thread for those folks. Americans are also just culturally weird about talking money.

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I've spent a lot of time getting my kids to open up with me about their personal finances. Good and bad. I understand they're going to make mistakes (lord know I have) but good open conversation and gently hammering home certain points will hopefully give them healthy financial lives.

(no message)

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I struggle with this because many people I drive past has a nicer home and nicer cars than I do.

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that means nothing. many of those types are struggling u just do not see it. you could buy it. maybe you prefer seeing that money working for u? i could as well but i do not. think of millionaire next door book.

it is fine to get some toys just have everything else setup and running like a machine first.

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The board is very antagonistic towards high net worth or high income individuals at times, which is humorous considering that's kinda at least a goal or point of the whole board and that I would think many here are those very people.

Probably would be nice to have a dedicated thread for those folks. Americans are also just culturally weird about talking money.

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Finances as a taboo topic is due to an assumption around judgement. I’ll openly discuss finances but the first thing I have to level set is that I do not care if you earn 35K a year or 350K...your salary does not define your worth or value in this world. Does it impact how you financially plan? Of course. So, if you need help with that then I’m happy to help and there will be no judgement of whether you make more or less than myself or any other person. Generally, people will loosen up on the topic once you create a layer of trust rather than a financial discussion being a big dick contest.