How much is enough? - Page 2

Azred · 11-22-2002, 09:05 PM

When the interest generated on the principal is enough to pay all your normal monthly expenses. Properly invested, even $250,000 would suffice for most people living reasonably, depending upon the cost of living of their area. Here in the Metroplex, that amount would be stretched thin each month; however, in Denton or Belle's home town that amount would be more than enough.

Animal, in your situation I would find a financial advisor in whom you place a high degree of trust, invest the money wisely, then decide whether you wish to continue working at this time. Since you are 30, the investment strategy I suggest is 30% in government securities (for preservation of capital), 25% in corporate bonds, and 45% in an well-diversified, aggressive-growth mutual fund; I dare not get more specific than that to avoid influencing your decisions, despite the fact that I do offer financial planning (or at least I try to, but that is a story for another day). Should you decide to stop working, you would have plenty of time for soul-searching to decide what you really want to do.
Now, about feeling bad about having a lot of money...think of yourself as gifted economically. Would you feel bad about being intellectually or athletically gifted? Probably not. Just be thankful for what you have and go on from there. Good luck!

[ 11-22-2002, 09:19 PM: Message edited by: Azred ]

purre · 11-22-2002, 09:09 PM

Quote:

Originally posted by johnny:
The more you have, the more you want.

Right!
I think that enough is when the person can live life he/she is happy about.

Animal · 11-22-2002, 09:11 PM

Quote:

Originally posted by True_Moose:
Consider this:

Assuming you live to be average age, you will live about 50 more years. That leaves you $60 000 to live off, assuming you're spending it all. You could also cut back, and have extra left over, which would be better.

If you enjoy your work though, I see no reason not to continue...my grandpa's worth around that much, and he still works, and he's 76! If you love your work, might as well continue with it.

Thanks, Moose. With my projected income from investments and properties I could realize a yearly income of well over $100,000 without lifting a finger. Your point about enjoying my work (self employed) is definetly something to consider.
As an addition to my previous post, I find myself judged by most who know me because I have financial freedom. This is why I posted this, because I feel that those on this forum have not judged, perhaps because of lack of knowledge. I am a single father and find it very difficult to find a woman who will accept me for me, instead of me for the money. It seems things change as soon as they find out. Forgive me, if I rant. I'm in a bit of a different place right now.

johnny · 11-22-2002, 09:13 PM

Quote:

Originally posted by Animal:

quote:
Originally posted by johnny:

quote:
Originally posted by Animal:
I ask, because I am in that position right now, but I'm only 30 and feel that I have a few good years of working left.

You are a multi millionaire ?[/QUOTE]My net worth is over 3 million. I don't like to announce it or flaunt it and I've worked hard and paid my dues, but I am at a point in my life where I need to evaluate my current situation. It's kinda hard to explain, and a part of me really hates who I am and what I have. I don't seem to quite fit in anywhere if you know what I mean, and you folks no nothing of me or my money until this point so I was hoping for some objective input as to where most of you would feel "comfortable." What would you be happy with?[/QUOTE]It's whatever makes you tick. If your worth 3 million you'll fit in everywhere, but that's for you to decide. Personaly i wouldn't retire so soon. You now have the opportunity do do whatever you want, you don't have to be an "employee" anymore. Start your own business and triple those 3 million.

Animal · 11-22-2002, 09:18 PM

Quote:

Originally posted by johnny:

quote:
Originally posted by Animal:

quote:
Originally posted by johnny:

quote:
Originally posted by Animal:
I ask, because I am in that position right now, but I'm only 30 and feel that I have a few good years of working left.

You are a multi millionaire ?[/QUOTE]My net worth is over 3 million. I don't like to announce it or flaunt it and I've worked hard and paid my dues, but I am at a point in my life where I need to evaluate my current situation. It's kinda hard to explain, and a part of me really hates who I am and what I have. I don't seem to quite fit in anywhere if you know what I mean, and you folks no nothing of me or my money until this point so I was hoping for some objective input as to where most of you would feel "comfortable." What would you be happy with?[/QUOTE]It's whatever makes you tick. If your worth 3 million you'll fit in everywhere, but that's for you to decide. Personaly i wouldn't retire so soon. You now have the opportunity do do whatever you want, you don't have to be an "employee" anymore. Start your own business and triple those 3 million. [/QUOTE]I wish that where the case, Johnny, but I find that I don't fit it. Things change when people realize what I have. I was seeing someone for a few months lately, the first person I've seen since my wife passed away, but I told her yesterday how much I'm worth and things changed. She started talking about what she could buy and what she could do and planning a long term future when none of this had come up before. Once again, forgive me, I'm feeling a little bummed right now. [img]graemlins/verysad.gif[/img]
I miss my wife very much. I miss you baby!

[ 11-22-2002, 09:21 PM: Message edited by: Animal ]

The Hunter of Jahanna · 11-22-2002, 09:21 PM

you only need as much money as you think you need. If you properly streamline your life like I have you can live quite comfortably on only $350 a week. Remember , money cant give you self respect.

[ 11-22-2002, 09:22 PM: Message edited by: The Hunter of Jahanna ]

Charean · 11-22-2002, 09:26 PM

That is tough to deal with. People do change when they find out you have money.

Those are the ones that are best held at bay.

Work until you don't want to anymore. When something isn't enjoyable, you don't put the same effort into it and the results show.

As far as women go, keep your eyes open. There are women with whom that is genuinely not an issue.

johnny · 11-22-2002, 09:27 PM

Quote:

Originally posted by The Hunter of Jahanna:
you only need as much money as you think you need. If you properly streamline your life like I have you can live quite comfortably on only $350 a week. Remember , money cant give you self respect.

Wrong, you can BUY self respect, the question is how far are you willing to go like that, and are you comfortable with it.

Animal · 11-22-2002, 09:27 PM

Quote:

Originally posted by The Hunter of Jahanna:
you only need as much money as you think you need. If you properly streamline your life like I have you can live quite comfortably on only $350 a week. Remember , money cant give you self respect.

I would give every penny up just for one more day with Michelle.

purre · 11-22-2002, 09:28 PM

Quote:

Originally posted by Animal:
I wish that where the case, Johnny, but I find that I don't fit it. Things change when people realize what I have. I was seeing someone for a few months lately, the first person I've seen since my wife passed away, but I told her yesterday how much I'm worth and things changed. She started talking about what she could buy and what she could do and planning a long term future when none of this had come up before. Once again, forgive me, I'm feeling a little bummed right now. [img]graemlins/verysad.gif[/img]
I miss my wife very much. I miss you baby!

I am very sorry about that,Animal. It is not right to act like she did.

edit: sorry about your wife too.

[ 11-22-2002, 09:30 PM: Message edited by: purre ]

11-22-2002, 09:05 PM	#11
Azred Drow Priestess Join Date: March 13, 2001 Location: a hidden sanctorum high above the metroplex Age: 54 Posts: 4,037	When the interest generated on the principal is enough to pay all your normal monthly expenses. Properly invested, even $250,000 would suffice for most people living reasonably, depending upon the cost of living of their area. Here in the Metroplex, that amount would be stretched thin each month; however, in Denton or Belle's home town that amount would be more than enough. Animal, in your situation I would find a financial advisor in whom you place a high degree of trust, invest the money wisely, then decide whether you wish to continue working at this time. Since you are 30, the investment strategy I suggest is 30% in government securities (for preservation of capital), 25% in corporate bonds, and 45% in an well-diversified, aggressive-growth mutual fund; I dare not get more specific than that to avoid influencing your decisions, despite the fact that I do offer financial planning (or at least I try to, but that is a story for another day). Should you decide to stop working, you would have plenty of time for soul-searching to decide what you really want to do. Now, about feeling bad about having a lot of money...think of yourself as gifted economically. Would you feel bad about being intellectually or athletically gifted? Probably not. Just be thankful for what you have and go on from there. Good luck! [ 11-22-2002, 09:19 PM: Message edited by: Azred ] __________________ Everything may be explained by a conspiracy theory. All conspiracy theories are true. No matter how thinly you slice it, it's still bologna.

11-22-2002, 09:21 PM	#16
The Hunter of Jahanna Emerald Dragon Join Date: September 25, 2001 Location: NY , NY Age: 63 Posts: 960	you only need as much money as you think you need. If you properly streamline your life like I have you can live quite comfortably on only $350 a week. Remember , money cant give you self respect. [ 11-22-2002, 09:22 PM: Message edited by: The Hunter of Jahanna ] __________________ \"How much do I love you?? I\'ll tell you one thing, it\'d be a whole hell of a lot more if you stopped nagging me and made me a friggin sandwich.\"

11-22-2002, 09:26 PM	#17
Charean Hathor Join Date: March 6, 2001 Location: Waxahachie, TX Age: 60 Posts: 2,201	That is tough to deal with. People do change when they find out you have money. Those are the ones that are best held at bay. Work until you don't want to anymore. When something isn't enjoyable, you don't put the same effort into it and the results show. As far as women go, keep your eyes open. There are women with whom that is genuinely not an issue. __________________ And then there were 6.

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