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Discussion Starter · #1 ·
This spun off of another thread that would have been hijacked.
How much money do you need to be happy?
I have a customer with a $24M house and he only visits it for a few mos. out of the year. BTW he also has a 220ft. yacht docked out back that only moves a few times a year, once for his trip to the Bahamas and the other to the boatyard for a bottom job.
This dude is my age and happy. Want to know about his wife, Bob? Young? Yes. T-backs? Yes.
I'm just curious as to what drives these people to amass vast quantities of money. Psyche 101 indicates insecurities. I'm getting enough and getting out. Question is, how much is enough? I used to think that $1M would do it, not good enough anymore.
Thoughts?
 

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DGR,IABD
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I'd be somewhat less interested in what drives a person to amass such goodies and more interested in how they did it.
 

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Discussion Starter · #4 ·
md. In this case it is international financing, it takes millions just to get into the biz.
I just want to go fishing.
 

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Teetorbilt said:
md. In this case it is international financing, it takes millions just to get into the biz.
I just want to go fishing.
I just want to be able to afford to come visit you, golf and have you take me fishing ! :cheesygri :cheesygri :cheesygri
 

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Inhierited (sp) or self made?
It can become a compulsion just like booze or any other vice. Lucky for him, it acceptable form in our our society. Wifey and I were doing P&L's, net worths for a spec hose finacing, when we saw the magic seven numbers Net, Net Net (exclusive of family home) We deviorced within a year.
 

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Teetor, that's a very dangerous question, there are guys here that would look at you and turn that question right around on you.

For me I just want enough where I don't have to work anymore and can still have the lifestyle I have now, that's pretty simple math for me.
 

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Discussion Starter · #8 ·
shopdust, one of my brothers just went through the same thing. He went to sea, his wife rifled the papers, found out how much he was worth and was gone when he got back. He was smart enought to have established an alias and have a Cayman account. He only got pinged for 1/2 of his traceable worth.
I find that, as I get older, I want less. What I would really like to do is buy about a 45-50 ft. sailboat and say goodbye to terra firma. Ol' #2 would never go for it.
 

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I am always humbled by my partner of 8 years when we talk about money. I came from a family that always had it, she came from a very poor family. She teaches me everyday about life and family, I worry about money and if we will have enough.

For myself, its weighing the options of having enough to retire someday, with doing the things I enjoy with the ones I love. I have a lot of time before I will retire, so I save and invest in retirement plans (IRAs, etc.) I would like to be sitting about double the national average (maybe more) when I retire.

So if you see that the average family income is $50K, I am looking to make $100K. If the normal family retires with $200K, I want $400K. I used to want milliions upon millions (I used to save $50M), now I know I can be happy with my above "formula". (I'm 25)
 

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I won't be happy until I can buy and sell all you suckers!!!

Just Kidding. I agree with most of the posters here, retire in comfort with a few luxuries. It sounds like a lot of you have very realistic dreams and are going about attaining them in a sensible fashion.

Teetorbilt said:
I find that, as I get older, I want less. What I would really like to do is buy about a 45-50 ft. sailboat and say goodbye to terra firma. Ol' #2 would never go for it.
I hear ya. I would love to move up to northern Canada or Alaska with nothing but an axe and a long rifle but my girlfriend of 8 years is thouroghly repulsed by the idea.
 

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Buddhist teaching holds that desire is the primary source of unhappiness. If you can let go of desire, you eliminate the source of unhappiness. At the moment of death, what good are material possessions, particularly if you are unhappy by what you were required to do to acquire them? I'm with Teetor - the older I get, the less I need. My old occupation was all about money and power, and I saw very few happy people. The wealthy fought like hell to keep what they had, and those who wanted wealth and power fought to get it. Not worth the price.
 

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Actually, going back into the harness is kinda fun. Makes me think back when I was a young'ns starting out. Not gonna make any mistakes this time ! (lol) Thanks to Al Gore and the Internet, it's loads easier this go around.
If the newbies would spend some time on this and certain other forums, they too could hit the "magic seven" so to speak, in a lot less time.
 

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My definition of enough is 200k a year from now until I am 54. At 54 I should be able to retire, not based on my savings but based on the ammount of work that's going to pop up in my area in about 15-20 years.

$200k a year should allow me to live comfortably and not have to worry about the daily bills. I will not be able to buy what ever I want on a whim but I will be able to buy the things I want within reason.
 

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Craig's post is a decent guide. I don't (or at least I try not to) crave things as much. Spending time with grandkids, simple things like re-roofing the little league dugouts, is my payoff. Of course the cost of living is a lot lower here in Oregon, and the GK's could care less how old my vehicle is. I could never afford this life style if I was still in California, but it's a trade-off I can life with.
 

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Teetorbilt said:
This spun off of another thread that would have been hijacked. How much money do you need to be happy? Thoughts?
I don't accept your premise that money affords happiness. I know that there is no amount of money, large or small, that will make me happy. Sometimes I think this mindset is a stubbling stone to financial success, sometimes I wonder if it might help. That's yet to be seen.
 

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I would love to move up to northern Canada or Alaska with nothing but an axe and a long rifle
nice.

I would like to travel via R.V. or whatever is existing at that time.
See as much as my eyes can soak in.
 

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My contention is that the premise makes for a 'trick question'. "How much is enough to make you happy?" is sort of like "Did you stop beating your wife?"

I postulate that indeed NO amount of anyhting makes you happy. TRULY HAPPY.

It does not matter if this is money, relationships, sex, or 'toys'.

Even the very rich live beyond their means just as the ret of us po'folk do. They have DEBT as high as everyone elses percentage wise in many cases. In my experience (limited) the rich folks I have met generally think "if I could only double my income I'd feel secure. Just like us.

Relationships and being loved. How many married folks do you know that wish they could go back to being single and how many single folks do you know that just wish they could find someone to marry? Nuff said.

Sex? Yea I'll keep it clean.. Many if not most (especially men) want more than whatever it is that they have, and those that can have those really special 'fantasies' fulfilled (you know the kind that that would make a porn star blush), do not often feel the culmination of those things is fulfilling. Again, enough is never good enough for people.

Toys? I do not care if it is cars, guns, tools, fishing equipment, or computers. The mindset of most people is "If I could only get a productXYZ I think I'd be happy and content". How many times has this proven true for you? I know in my case that obtaining that 'special item' has only a transitory goal-accomplishing affect on me, and I see this in many others. Those of you with kids can REALLY understand this when the kid begs for XYZ toy, gets it and then 3 months later will not be calmed until he is given the next XYZtoy that is being advertised on cartoon channels.

Most adults are just big kids in this way. Most people are never satisfied with what they have, no matter how MUCH they have.

Charles
 

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Teetorbilt said:
I find that, as I get older, I want less.
I have come to the same realization. The secret to being happy (for me, anyway) is not in having more, but in needing less. Simplify. that's my motto.

Rhett Watson
Electrician, Plumber, simple man.
 
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