I think you've listed things we'd all like. However, like anything else, we tend to get spoiled with wealth. I was very surprised, a long time ago, when I read the book "The Millionaire Next Door". What surprised me was that a) a million dollars was still considered "rich" - it most certainly is NOT and b) how many Millionaires there were and what modest lives they live.
I "became" a millionaire about 10 years ago. That is, the total value of all my assets, savings, and investments totalled over $1mm. Today, I'm still barely clinging to that.
Still, the things you valued are the things I value. I can't stand politicians (in fact, I spurned the hand of a man who was running for New Jersey Governor, and ultimately won, when meeting him on the train platform), I want people to leave me alone when I choose to live my private life, and I don't want too much house. I prefer land, but even then I'd prefer less than more (management, you know. I grew up with 7 acres that I was constantly working).
That said, wealth is not synonymous with big living, and certainly not in the US. In fact, Warren Buffet was relatively anonymous as a billionaire for YEARS before the press caught up with him and turned him into an icon. And even now he shows signs of being uncomfortable with that position. He does what he can, when he can, where he can....and tries to pass along sage advice as he travels his road.
Sounds like Smithee and Flexo. Without the cash.
LinearChaos
· 7 months ago
I very much agree with your preferences. I prefer small spaces to large, clearance racks to seasonal clothing, a nice beer at happy hour in the mellowest of dive bars to fancy restaurants, and an afternoon nap to a grand vacation. The idea of eating breakfast outside every morning sounds awesome to me!
I do wonder if once I reach my goals of net worth of at least $1 million...if those preferences will change. Of course, I have a lot of work to do to reach this goal considering I just finished business school and those student loans are looming ever so ominously on my balance sheet.
I hope I never loose sight of the little pleasures in life even after I reach my goals.
*Note to self, read The Millionaire Next Door.*
Rick
· 7 months ago
Read "The Richest Man in Babylon" first. The millionaire next door is really just a "save your money, scrimp, and don't waste" book.
Your preferences won't change once you hit $1mm net value, unless you want them to. I've done it, and it's not changed me a bit. To be honest, though, it's not all you'd think it is. $1mm, in the NYC area, is middle class, solidly. I'm in a neighborhood that would put me at the LOW end of the local net worth. Still, I once had a boss say to me "if you don't make $500,000 a year, you can't live in Manhattan". It's idiotic, but I can see the point. You can easily live in Manhattan on $35,000 a year if you: share a 2 bedroom with 3 other people cook your own meals and pack your lunch take subways and shun cabs/cars don't go out every Friday or Saturday enjoy the "free" museums (which still are sort've free even after a $5 donation...and they're magnificent)
Still, it's better to live in NJ, like I did for most of my single life. I was able to buy a condo there inexpensively in the 80's...which has really set me on the road up, net value wise. That first purchase is KEY. I was able to get a 2 bedroom, rent one room out to cover most of the mortgage, and then rent it out at a profit once I bought a house. I recommend this to everyone - find an up and coming community and buy there.
One trick, which will be mistakenly construed as some form of discrimination, but isn't, is to look for stoner neighborhoods. Then, keep an eye on the neighborhood. As artists and homosexuals begin to take over, it's time to buy. I'm not sure how and why this works, but I've tracked it and it's worked twice for me, in 2 very different places.
All Comments
However, like anything else, we tend to get spoiled with wealth. I was very surprised, a long time ago, when I read the book "The Millionaire Next Door". What surprised me was that a) a million dollars was still considered "rich" - it most certainly is NOT and b) how many Millionaires there were and what modest lives they live.
I "became" a millionaire about 10 years ago. That is, the total value of all my assets, savings, and investments totalled over $1mm. Today, I'm still barely clinging to that.
Still, the things you valued are the things I value. I can't stand politicians (in fact, I spurned the hand of a man who was running for New Jersey Governor, and ultimately won, when meeting him on the train platform), I want people to leave me alone when I choose to live my private life, and I don't want too much house. I prefer land, but even then I'd prefer less than more (management, you know. I grew up with 7 acres that I was constantly working).
That said, wealth is not synonymous with big living, and certainly not in the US. In fact, Warren Buffet was relatively anonymous as a billionaire for YEARS before the press caught up with him and turned him into an icon. And even now he shows signs of being uncomfortable with that position. He does what he can, when he can, where he can....and tries to pass along sage advice as he travels his road.
Sounds like Smithee and Flexo. Without the cash.
I do wonder if once I reach my goals of net worth of at least $1 million...if those preferences will change. Of course, I have a lot of work to do to reach this goal considering I just finished business school and those student loans are looming ever so ominously on my balance sheet.
I hope I never loose sight of the little pleasures in life even after I reach my goals.
*Note to self, read The Millionaire Next Door.*
Your preferences won't change once you hit $1mm net value, unless you want them to. I've done it, and it's not changed me a bit. To be honest, though, it's not all you'd think it is. $1mm, in the NYC area, is middle class, solidly. I'm in a neighborhood that would put me at the LOW end of the local net worth. Still, I once had a boss say to me "if you don't make $500,000 a year, you can't live in Manhattan". It's idiotic, but I can see the point. You can easily live in Manhattan on $35,000 a year if you:
share a 2 bedroom with 3 other people
cook your own meals and pack your lunch
take subways and shun cabs/cars
don't go out every Friday or Saturday
enjoy the "free" museums (which still are sort've free even after a $5 donation...and they're magnificent)
Still, it's better to live in NJ, like I did for most of my single life. I was able to buy a condo there inexpensively in the 80's...which has really set me on the road up, net value wise. That first purchase is KEY. I was able to get a 2 bedroom, rent one room out to cover most of the mortgage, and then rent it out at a profit once I bought a house. I recommend this to everyone - find an up and coming community and buy there.
One trick, which will be mistakenly construed as some form of discrimination, but isn't, is to look for stoner neighborhoods. Then, keep an eye on the neighborhood. As artists and homosexuals begin to take over, it's time to buy.
I'm not sure how and why this works, but I've tracked it and it's worked twice for me, in 2 very different places.