Thread 60784593

/biz/bros who truly made it (no longer wage, don't stress about finances at all), how did you know when you really had enough? I know I don't yet but honestly at this point I act as if I had nothing saved. I have about $1.3M (sole provider for family of 4 though so I probably need $3M+ to be comfy) but every single financial decision even down to spending like $60 on a dinner out brings me pain and I feel like I can't really afford it.

I am concerned even if I hit like $2.5-3M I'm still going to be too scared to just live off the yield.

At what point did you start to really feel like "ok, I am free, I can quit now"? How willI I know?

And do you actually get to enjoy the money or unless you have like $10M+ do you always feel like you have to watch your expenses to a degree?

>>60784593 (OP)
it's never enough. You will always keep coming back for more.

>>60784593 (OP)
>At what point did you start to really feel like "ok, I am free, I can quit now"? How willI I know?

when you have a stack for you and your wife and to have your kids set up for 2-3 shots at life without becoming a debt slave. you have a house/home, a place you want to live in and invest your time in. A community/church you go to regularly. you eat well and exercise regularly, you get regular sex and you pursue hobbies/passion and learning.

You need to have insurance for everything, health, life, insurance for your coins, umbrella insurance in case you hit a cyclist with your car and get sued so they don't take all you have.

It's an enormous chore and headache to set up a life to "not stress about money" like a white person.

it's so much easier to be a carefree bohemian.

My father is a doctor in the third world and he never worried a day about money in his life. He just lives and works and travels and helps people and laughs and enjoys life he made enough money to send me, my sister and mom to America to study and live and he stayed there and cultivated several girlfriends and baby mamas. He is in his 70s and broke and doesn't give a shit. relies on friends, says "I won't starve" and just enjoys life.

>>60784593 (OP)
Your 1.3million will earn you 50k per year just sitting in a bank. You've made it now if you simply adjust your lifestyle and live within your means.

-Time- is making it. 50k per year forever is plenty to free your Time

>>60784666
Trips of satan, I don't think I can just uproot my family to some third world shithole or middle of the USA deadsville, unfortunately. If it were just me I'd have done it already. I think I can convince my wife to downsize somewhat but I doubt I can get her to move, plus I still need to be around my parents to take care of them since they're getting old.

My parents might honestly live another 20 years which I am glad for but it does also rule out any chance of this amount being enough based on me being able to move away when my kids go to college.

>>60784648
yea I think my reply above also sort of answers this. I agree fully, and I personally don't need a lot. I don't even think my wife cares to have much, the things locking me down to a relatively expensive lifestyle are harder to change though. I definitely will be looking at buying a cheaper house in a year or two. The space we have is nice but I think I can save like $1000/mo and still be in an amount of space that feels fine.

>>60784748
take your parents with you to a low cost of living area. if your wife doesnt obey you, youll always be a slave, to her, no matter how much money you have

>>60784748
also dont send your kids to (((college))) to get mind raped by kikes. instead help them buy a small house that way theyre set and "free" even if they can only get bullshit wagie jobs

>>60784593 (OP)
10 million is scienticifcally the best number as of right now. if you aim for more youre a greedy demon. 1 million was the best in 1950. In 2050 100 million will be the new best.

>>60784593 (OP)
>do you always feel like you have to watch your expenses to a degree?

At $40M I don't really care about most basic expenses. Like fuck it I'm leaving the lights on, if I want water and it's $10 at the airport I'm getting it. If it's a restaurant I order what I want, but I'm not going to order stupid shit that's just for show (gold leaf steak or whatever bullshit). I'm quite comfortable paying $1000+ all in for a 3 star Michelin restaurant.

I have a nanny but kind of wince at the costs (she's $32/hour now). I'm not buying random shit just for the hell of it. I will spend decent amounts of money on pretty good things, like my suits and tuxedo are just shy of $5000 from a Saville row tailor, but I am very deliberate about that.

I'll fly basically only buy economy unless I get upgraded or have miles (unless it's overseas), but if something is expensive unless it involves connections or shitty departure times I'll say fuck it and buy whatever.

Hotels will usually be whatever the cheapest 4/5 star hotel is near where I want to be. If I'm invited to a conference I'll pay for the hotel where the conference is unless that's like $500 a night more than some place across the street.

For groceries I usually buy Walmart because delivery is so convenient. If it's really the same shit I don't give a fuck. But for some stuff like cheeses or meat or chocolate or whatever I'll go whole foods or Costco or a boutique store (Laderach for chocolate)

But I'm not randomly making $1000,$10000 impulse purchases and my wife and I have a rule that anything we buy out of the ordinary that's over $100 we get the other's approval on before buying. Usually if it's some shit we both have to look at all the time we'd still consult each other if it's under $100.

I still don't feel comfortable hiring more staff, my house I bought for under $2 M cash but wouldn't want another, spending really any decent amount of money for a modest new car (say $50k+) doesn't feel reasonable.

>>60785159
32 bucks an hour for a nanny is insane. Shes way overpaid.

>>60784915
My parents will never leave, I probably can only force them once they get severe dementia or something.

>>60784961
As to this, I don't plan on pushing college to my kids but depending on what path they decide to take I want it to be an available option to them. My goal is they go to a local school and live at home, we have some good colleges here.

>>60785159
You're worth 40 mil and still think about some of your purchases and a $32/hour nanny? That's nuts, I guess it's just a brain chemistry thing more than a functional what you need to be doing thing. I suppose I'm fucked if that's the case.

>>60784593 (OP)
I have 2 million and only 1 kid, but I just found out that even cheap homes in my current neighborhood area bout 2.1-2.3M. Ironically I can't even get a loan for enough to buy it because my salary is only about 180k, and using what I've saved my entire 20s for a single house feels like shit.
$10 million get finely feels like the bare minimum to stop working and provide for a small family these days.

>Just move to a different neighborhood
Ok but then I'd rather just keep working and live where I am intense nice neighborhood, so I'm back where I started.

I stopped working once I bought a house that was on a lake out in the country and had a few million to sit in spy and live off divvy, now I enjoy myself every day and occasion travel, don’t need anything else

>>60785336
yea I think about this - definitely want to try to find a "forever home" before I quit my wagie gig if I get enough to do that, but houses here are expensive as well. A bank will loan me like $700k maybe, I will need to come up with the rest. I can probably get some more juice if I ask my parents to co-sign which is part of my plan.

The $10M number really does feel like what you need to be really never thinking about money. Crazy times.

>>60785159
Do you ever get the temptation to cheat on your wife since you can basically fuck any woman you want now?

>>60785369
Sounds comfy, anon. I would love this but I'd be too far from good schools and again probably too far from my parents. I may consider home schooling though.

>>60785392
It’s not any easier to fuck any woman you want with 40M vs 1M, besides being able to better afford whores and sugar babies.

You could be worth $100M but broke Chad still has an advantage over you for casual sex if you can’t compete with his looks

>>60784593 (OP)
1.3M @ 10% per year is 130k. is this more than your current wagie salary? can you not survive off just this annually? a simple investment portfolio can almost guarantee this.

>>60785159
>40M
>2M house cash
>wont buy a 50k+ new car
>thinking about $10 airport water
its impossible to save and penny-pinch your way to having 40M but you still have that mentality

>>60785473
Yes I think that's correct, like I don't think I've become any more attractive to women in the abstract. Unless I developed some sort of famous persona or was extremely blingy it's not like women can smell money.

Maybe if I was flirtatious with other women who knew enough about me I'd notice different results but that's not what I do.

>>60785180
She's good though and honestly you're not finding a nanny that speaks English and is sober and not morbidly obese and not covered in tattoos and shows up on time for much less than that. You could go maybe $25, we just gave her a raise though because she's been training and can do all sorts of educational materials and lessons with the kids and training a new one is hard.

If you just want someone to make sure your kids get fed and washed and to bed on time you might be able to do $20. Maybe.

>>60785302
I'm basically 98% BTC so I do have to feel ok if Bitcoin drops 90%+. I may feel differently if I cash out more.

>>60785704
>its impossible to save and penny-pinch your way to having 40M

Yes but it's quite possible to splurge your way into not having 40M or anywhere close to that.

And I mean, I'm not a penny pincher, do you really think I'm somehow deprived if I don't spend $50k-$100k every 3-5 years on another mid-tier car?

>>60785369
how depressed and bored are you every day be honest

bump
>>60784648
>>60785159
good posts

>>60784593 (OP)
>At what point did you start to really feel like "ok, I am free, I can quit now"? How willI I know?
This is something I'm struggling with.
I've always thought if I hit 25x my expenses enough to cover $50k/year (1.3m at a 4% withdrawal rate) I'd immediately quit my job and work on my own projects (which probably won't make any money).
But now as I approach it (currently at 1.05m, half in crypto), I feel like it's not enough. What if the economy tanks right after I retire and I lose 50% and it only lasts 20 years? I can't handle going back to work in my 50s. Or what if my car dies and I have to replace it and immediately lose 20k to that?
Also, if I quit my job with only 1.3m, it means I likely won't ever own a home, or travel more than once every few years, or buy a cool self driving car, or a personal robot. Granted I've been happy and mostly content not owning/doing those things the past 10 years, but it feels like I'll be falling behind if I can never improve my lifestyle again.
But maybe that would give me the right push to work on my own projects and make them profitable. But it's only going to get harder to bring in income. I could keep working for another 5 years and have enough to entirely replace my salary at 4% withdraw rate, but I honestly don't know how much longer I can keep working.
On the other hand, maybe crypto keeps going up without a big 80% dump, maybe it goes up enough for me to hit 2m and I can quit my job and live comfy? Is it worth risking another dump and holding it all? Or will I get to 2m and think "hmm this actually isn't enough to support a family, I need more" ? Not that I actually have a family to support, but maybe one day, or not.
This shit is stressful, I just exited 6fig hell and it's still hell here at 7figs.

>>60784593 (OP)
>how did you know when you really had enough?
I read an online article about Bob, who was two years older than me and had one-third of the money I had, they said Bob could afford to "retire" so I did that.