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Posted on 1/2/21 at 8:58 am to indytiger
quote:
Anybody else think they are doing good, just to come read the MT and get depressed?
It's an anonymous board. I truly doubt most of the numbers being presented as facts. With that said, anything is possible.
I'm on track for about $2.2M at 59.5 and that will be more than enough to live out the rest of my life. I have no one to leave any real inheritance to, spread mine out among our church and a couple of humane societies for whatever is left. At $2.2M, I can withdraw 5% and still have enough for 30 more years, which will more than last to my death.
Posted on 1/2/21 at 9:08 am to indytiger
quote:
Anybody else think they are doing good, just to come read the MT and get depressed?
This board and these topics always suffer from a selection bias in the responses. So we end up with the high earners/savers “bragging” about their balances and low earners who are not ashamed to post theirs.
It’s a very unrepresentative cross-section and accomplishes nothing for the OP unless he fits these categories.
As I’ve always mentioned in these threads, it is MUCH more beneficial for OP to introduce his situation and seek feedback rather than a blind poll.
Posted on 1/2/21 at 9:13 am to indytiger
quote:
Anybody else think they are doing good, just to come read the MT and get depressed?
Are you putting money aside?
Just get the money into something as early as possible. Time value of money takes time.
I'm no high roller. I started late in my opinion (27). But the last 7 years has put me in a position where I can at least see a finish line (which I never define. I'm just doing my best). I'm 43. Net wealth is basically doubling about every 3 to 4 years. Retirement is doubling every 4 to 6 years.
Up to now, as I make more I have been able to put aside more. That may change as kids get to college (kids are paying for their own college, but that doesnt mean I wont be assisting and trying to set them up for success). The fact that I have built up as much as I can the past 7 years makes me feel that I can let off the gas if need be and still keep moving forward with growth.
Posted on 1/2/21 at 10:48 am to indytiger
quote:
Anybody else think they are doing good, just to come read the MT and get depressed?
Why? Don't let other people's wealth or lack thereof dictate you happiness. I do well. Very well, but I'm probably not even in the top ten in our little town. There's generational oil money. Do I give a shite? No. There's always gonna be someone richer, taller and better looking than you. It is what it is. The first step to financial security is to not try and "keep up with the Jones". Most of them are check to check anyway.
Focus on what's good in your life. Appreciate what you have in the grand scheme of things. There's a reason envy is one of the seven deadly sins. And the worse part of it, it only makes YOU miserable.
Posted on 1/2/21 at 5:58 pm to indytiger
quote:
Anybody else think they are doing good, just to come read the MT and get depressed?
This is the ot on steroids. No debt, everyone is a millionaire and pays cash for everything. Add on top of that, each poster will be retired by 55
If you actually believe any of this shite you need your head checked.
Just put up as much as you can and live life. Everything usually works out like it should plus or minus a few ups and downs that show up in LIFE.
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