I might regret asking Blind this, but what the heck. Wife and I are both ~40, have good jobs (non-tech/tech). Have had a breakout YTD in the market, which had significantly bumped up our net worth. We have a total of ~$2.5M in cash and securities (including retirement accounts) and ~500K of equity in our house. TC between the two of us is 600-650K. My question is, where do we stand wealth segment wise in the Bay Area, for our age group? Top 10%? Top 25%? Top 50%? Lower? If you think this is some sort of d*ck measuring question, it's not. We live relatively economically and would probably save 40% or more of TC based on our lifestyle. We are considering a large charitable donation (~20-30K) between some important causes as well as perhaps splurging on a fancy car (think 100K). Are we getting too far ahead of ourselves in our perception of our wealth? Does everybody around the Bay have similar net worth but are just living average middle class lives? Thanks for your input.
It is dick measuring contest. Throwing that disclaimer doesnot make it go away
What if my dick is curved?
Even in the Bay Area $3M total wealth at 40 is comfortable, although probably not exceptional. And you could retire to somewhere cheap right now with reasonable quality of life indefinitely.
The question is wrong. What are your goals at 50?where do you see yourself moneywise and professionally at 60? Do you have kids. Is inheritence important to you or paying their college? When do you want to retire? What do you want to do when you retire? All the above will dictate if you are rich or not. Personnally a car is a liability ( especially when you are a frugal couple) and no one cares where you stand in the bay (sorry) and you shouldn't as no situation is equivalent.
How is this not a dick measuring contest?
Disclaimer: this is not a dick measuring contest, but my dick is 7". How long is yours?
9.5”
Why don’t you pay off your house? The stock market is not doing any good. You can save ~%4 interest. Regarding how well you are doing, I have to see how well you are living. If you live like a creep, you could have even save more. Tell me about where you live, what car you drive, how many vacations you took YTD and where you’ve been. Do you party? Do you go out? Dining? Drinking? Also kids suck money. How many kids do you have?
For example I can provide two scenarios. You rate yourself between. First the good scenario: You live in PA/MP/Los Altos. You pay higher mortgage and property tax to begin with. You have a Tesla and wifey drives a Lexus SUV. You have full coverage. You go family vacations abroad, this year it was machupichu and norwegian fjoyds, maybe Iceland. You go out once a week with family to a fancy restaurant. You wife is hot and takes care herself (means $$$). You have kids and you pay for daycare for one of them. For others, you pay for their classes, piano, ballet and karate. You try to feed your family organic foods, from wholefoods. You do some charty donations on side. If you do these and still managed to make 2.5m, you are doing great. Now the bad example: You live in cheaper neighborhood of south san jose or east bay. You make a lot of money but you think it’s cheap to live there because you could save more. No kids. The only international travel is to visit your home country once every few years. You drive a 2005 Mazda 626 and your wife drives a relatively new RAV4 (2011), no comp coverage. You eat out once a while in your local $ joint. Last time you partied was at your brothers wedding. Your wardrobe has full of promotional shirts and you wear them when you go out meet your friends. Then probably you could have save much more.
I nominate @InfraGuy for Comment of the Year.
@Indeed Agreed, the yardstick used in my question may be a poor choice, but its purpose is to calibrate our actions. For example, most people in our circle are giving away our targeted charitable donations. Some do own 100K cars, but these are all Tesla fans. To answer your questions: Yes, 2 kids and we will be happy to pay for their college if needed. Inheritance has not crossed my mind, I expect them to make their own way in the world. Retirement doesn't seem particularly attractive either. With sufficient wealth, I would simply switch to more of a passion project rather than retiring.
Your dick is in the 87%-ile by length and her tits are in the 65%-ile by perkiness. Congrats! You are now allowed to buy vehicles X which will allow you to demonstrate this metrics to your neighborhood in a subtle but crass way. 🍆
Making millions is not enough for these assholes that they also need to flaunt their wealth in everyone’s face.
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