$2m is hell in a handbasket
Can't retire. Can't take huge risks. Quality of life is still the same. If only it was $7m you would be set for life. Believing in golden years or slogging 9-5 for the next 30~40 years to enjoy 5 more years when you will be too old to enjoy it anyways doesn't make any sense. No motivation or desire to do better at work when the whole corporate grind feels pointless.
You can definitely take some career risks if you have $2m saved up.
Get a main house and a beach condo within short driving distance. If you canāt afford both with 2M it means you live in stupidCOL. Eat good and be grateful.
You get what you pay for. If I wanted to live in Jacksonville I could but Cali weather, food, and activities are worth every penny. Itās only a stupidCOL if you canāt afford it
You definitely donāt always get what you pay for. you pay a high premium for a location because the supply/demand is out of whack by forced RTOāers, despite cali beaches + weather being heinous. Decent woods though, thatās about all I like about it
Tc or gtfo
Then you get to 7 and wish it was 15
$2M seems so tough for you. Send it to me and Iāll relieve you of this burden.
At $2m in investable assets- you have enough money to have financial freedom, but it entirely depends on your lifestyle and finance management. If you have continuous lifestyle inflation as your net worth grows- it will never be enough money. If you curb your expenses and invest properly- you could survive off $2m and not work. Or at the very least realize your financial freedom and only work a job with the work life balance that you want.
$2m is plenty for 95% of the world. Expand your geo horizons friend.
2M is nothing is todayās world. What you state starts being true around 5 https://www.bogleheads.org/forum/viewtopic.php?t=292133 . But even this quote was pre-pandemic. Now that number is probably 7 or 8. What does this make you, 7M? The poorest rich man in America.
Strongly agree with this unless you want to live as a single bachelor, renting; and with no kids.
Depends on your age. Most folks in tech are lucky to have 1/10th that in liquid assets. Most folks not in tech are lucky to have 1/100th that. Most folks in the world are lucky to have 1/10000th that.
Well said
Uneducated realtors in India are sitting on tens of crores (~ $10M). I don't buy most folks in the world argument.