The Accumulation of Wealth

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justsomeguy2018
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The Accumulation of Wealth

Post by justsomeguy2018 »

Since learning about Bogleheads (and the fortunance of recent annual income gains), our net worth has increased by about $460,000 over the last 2 years. Depending on further market gains, the 2-comma club could be in sight in 2 years. Most of the money will be in retirement accounts, so not really touchable for a while.

I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.

I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".

I'm not really sure what the point of my post is. I guess after 2 years of diligent saving and investing and the "excitement" of watching the portfolio grow, I didn't realize that after reaching a certain point the excitement would wear off. Which is not to say I want to stop seeing it grow or see it crash, by any means...

I can't imagine how the 8-figure club feels, wonder if they have any of the same thoughts or if they love continuing to rake it in.
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Scott S
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Re: The Accumulation of Wealth

Post by Scott S »

"Boring" is exactly how it should be. :sharebeer
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000
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Re: The Accumulation of Wealth

Post by 000 »

I guess you will probably feel differently if we see a wicked bear.
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Re: The Accumulation of Wealth

Post by SQRT »

justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am

I can't imagine how the 8-figure club feels, wonder if they have any of the same thoughts or if they love continuing to rake it in.
I’ve been retired for about 14 years but the last few years before my retirement were very good financial years, ie my net worth increased very rapidly and by very large amounts. This rapid FI got me thinking more seriously about retiring and planning for the type of retirement this net worth could support. Wasn’t boring at all, quite exciting in fact.
livesoft
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Re: The Accumulation of Wealth

Post by livesoft »

It reads like the OP needs some excitement in their portfolio. This can be accomplished by starting a Donor Advised Fund and donating 80% of their portfolio to it.
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anon3838
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Re: The Accumulation of Wealth

Post by anon3838 »

I tend to agree with OP. For some people, when the get to a certain point that they could buy “more”, it loses some of its appeal. But as others have stated, there’s also a “next level” of realizing FI retirement at a younger age is within reach.

Time to get excited about adding a few extra points into savings each year... congrats!
manatee2005
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Re: The Accumulation of Wealth

Post by manatee2005 »

justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am Since learning about Bogleheads (and the fortunance of recent annual income gains), our net worth has increased by about $460,000 over the last 2 years. Depending on further market gains, the 2-comma club could be in sight in 2 years. Most of the money will be in retirement accounts, so not really touchable for a while.

I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.

I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".

I'm not really sure what the point of my post is. I guess after 2 years of diligent saving and investing and the "excitement" of watching the portfolio grow, I didn't realize that after reaching a certain point the excitement would wear off. Which is not to say I want to stop seeing it grow or see it crash, by any means...

I can't imagine how the 8-figure club feels, wonder if they have any of the same thoughts or if they love continuing to rake it in.
Time to buy a jet ski
neb2020
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Re: The Accumulation of Wealth

Post by neb2020 »

Don't count your chickens before they hatch. Anything can happen that derails your plan. Job loss. Structural unemployment. COVID-19.

Sometime in 2020, I crossed the $1mil barrier without noticing it, but I'm not stopping to rest. Besides $3mil is the new $1mil when I retire, so I'm not there yet. I'm still going to hammer it out until I reach CoastFI, then maybe I will stop and look around a little.

FYI, CoastFI is the state where if you saved $0 going forward and not touch your retirement portfolio, you can retire at some predefined retirement age at your desired standard of living. So in other words, the only thing you need to do from CoastFI to actual retirement, is get a job to pay for basic expenses and healthcare, and everything excess SPEND IT like a real America who blows his/her entire paycheck!
elle
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Re: The Accumulation of Wealth

Post by elle »

1) allow yourself some lifestyle creep
2) set new financial goals
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Re: The Accumulation of Wealth

Post by HMSVictory »

It's quite the opposite my friend. When the portfolio grows more than you make in a year it starts to get very exciting. Your just getting started. When the markets crash it's like Mr. Buffet says and its raining gold!

If you had $10M invested last year in VTI you'd have made $2.1M. Meh? Yeah right.

Now there are only 3 things you can do with money. Spend / Save-Invest / Give it. The more you have the more you can do all 3. Giving is the most fun.
Stay the course!
jeremyl
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Re: The Accumulation of Wealth

Post by jeremyl »

It sounds like OP is hitting savings goals. I encourage you to look at spending on experiences and giving.
Fogbank
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Re: The Accumulation of Wealth

Post by Fogbank »

First of all Congratulations OP.

I think you and I have similar backgrounds and I understand where you are coming from.

Bouncing off the 2 comma club here also, and in my early 40s. I also came from a pretty lower-middle-class background. Raised by a single mom, had to work in HS to keep the lights turned on in my house. Etc. Was blessed with enough smarts to get partial scholarships to start college then worked my way through my last two years going to school at night. Took out some student loans too but paid those off.

I started saving into tax-deferred retirement in my late 20s pretty much by accident, and didn't get semi-serious about it until a bit later. A few years ago I started maxing things out and then also auto-investing pretty heavily into taxable funds. I've also been blessed to work for companies with very generous 401k matches. DW will have a decent pension with her job and also socks away plenty of money into her tax-advantaged accounts and 403b. We don't spend much money in a LCOL area so it's not hard for us to do this at all.

At our savings rate, if the markets even do poorly/mediocre over the next several years it's possible we can be FI before long. However the the current plan is to keep going and hang it up by the time I'm 59 1/2, maybe earlier, and hopefully can.

Figuring all this out over the last few years, understanding the rules, taxation, savings rates, etc. had been very educational and time-consuming in a good way... But now that I have a decent handle on it, and we are mostly on auto-pilot I'm kind of like "Meh?" What now? We already focused on cutting expenses a lot (which were low to begin with) but one day I found myself spending way too much time comparing MVNO phone plans to decide if switching to save $5 a month was worth it... I just laughed at myself, closed my browser and went for a walk.

It's easy to sit around and obsess over this stuff, which I find myself doing around this time every year. Mostly because I check to be sure our Roth and HSA limits are reached, my 401k contributions didn't go over, try to anticipate any tax issues for the next year, etc. But when February rolls around and I get the taxes done I usually try to divert my attention to other things.

We started volunteering a lot (before COVID) and giving some sustaining gifts to organizations we care about. That has been really rewarding.

Good luck, stay disciplined and focused... but not TOO focused. :sharebeer
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Re: The Accumulation of Wealth

Post by MikeG62 »

justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am Since learning about Bogleheads (and the fortunance of recent annual income gains), our net worth has increased by about $460,000 over the last 2 years. Depending on further market gains, the 2-comma club could be in sight in 2 years. Most of the money will be in retirement accounts, so not really touchable for a while.

I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.

I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".

I'm not really sure what the point of my post is. I guess after 2 years of diligent saving and investing and the "excitement" of watching the portfolio grow, I didn't realize that after reaching a certain point the excitement would wear off. Which is not to say I want to stop seeing it grow or see it crash, by any means...

I can't imagine how the 8-figure club feels, wonder if they have any of the same thoughts or if they love continuing to rake it in.
Maybe it's time to do some planning and determine if you would be better off in the long run not having nearly all of your savings in retirement accounts (by this I assume you mean tax deferred). Maybe getting funds into a Roth or redirecting some of the savings to taxable accounts would be wiser in the long run from a income tax perspective. Perhaps that type of analysis and planning will re-light the passion you have had for saving?

In terms of your specific question, no I was never bored saving. I had a goal to retire early and saved diligently in furtherance of that goal. This allowed ,me to fully at 53 (with no pension). That was 5 years ago. Zero regrets.
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Re: The Accumulation of Wealth

Post by 4nursebee »

It's not meh.
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Re: The Accumulation of Wealth

Post by Sandtrap »

justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am Since learning about Bogleheads (and the fortunance of recent annual income gains), our net worth has increased by about $460,000 over the last 2 years. Depending on further market gains, the 2-comma club could be in sight in 2 years. Most of the money will be in retirement accounts, so not really touchable for a while.

I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.

I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".

I'm not really sure what the point of my post is. I guess after 2 years of diligent saving and investing and the "excitement" of watching the portfolio grow, I didn't realize that after reaching a certain point the excitement would wear off. Which is not to say I want to stop seeing it grow or see it crash, by any means...

I can't imagine how the 8-figure club feels, wonder if they have any of the same thoughts or if they love continuing to rake it in.
Questions:

1. What is your definition of "Wealth"?
2. How much in "assets", net worth, etc, is your definition of "Wealth"?
3 How many years away from retirement and financially independent in retirement are you?

Actionably:
Read "investing behavior pitfalls" in the forum WIKI.
Consider posting a "portfolio review" for comprehensive actionable input and perhaps more confidence in your financial strategy and positions.
Compartmentalize "feeling" and "emotion" with finance, investing, and money. (one does not beget the other, etc).

As for "raking it in" and "accumulation of wealth", it can be very temporary given life and market "black swans" and "perfect storms". So, an attitude of "back to paycheck-to-paycheck in a month" is sometimes helpful to deter overconfidence, ambivilence, etc. Never forget one's roots, financial or otherwise, and coming from humble origins can be a gift when realizing how quickly it can be returned to.

j :D
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David Althaus
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Re: The Accumulation of Wealth

Post by David Althaus »

Listen to Sandtrap. You can have much worse problems than more money than you need upon retirement. It may prove useful to create an Investment Policy Statement. Provides a roadmap to the future. Wiki site has examples.

All the best
Ed 2
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Re: The Accumulation of Wealth

Post by Ed 2 »

000 wrote: Sat Jan 09, 2021 2:46 am I guess you will probably feel differently if we see a wicked bear.
I am amused to look on some of the trolls comments
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Re: The Accumulation of Wealth

Post by H-Town »

justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am Since learning about Bogleheads (and the fortunance of recent annual income gains), our net worth has increased by about $460,000 over the last 2 years. Depending on further market gains, the 2-comma club could be in sight in 2 years. Most of the money will be in retirement accounts, so not really touchable for a while.

I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.

I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".

I'm not really sure what the point of my post is. I guess after 2 years of diligent saving and investing and the "excitement" of watching the portfolio grow, I didn't realize that after reaching a certain point the excitement would wear off. Which is not to say I want to stop seeing it grow or see it crash, by any means...

I can't imagine how the 8-figure club feels, wonder if they have any of the same thoughts or if they love continuing to rake it in.
"If you're gonna play the game, boy
You gotta learn to play it right
You've got to know when to hold 'em
Know when to fold 'em
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done

Every gambler knows
That the secret to survivin'
Is knowin' what to throw away
And knowin' what to keep
'Cause every hand's a winner
And every hand's a loser
And the best that you can hope for
Is to die in your sleep"

Moral of the story is: don’t count the money while you’re still at the table. A crash will half your net worth. Same with a divorce or a messy law suit.
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Re: The Accumulation of Wealth

Post by Cautionary Tale »

Money (and what it buys) can't satisfy the soul.
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Re: The Accumulation of Wealth

Post by Ed 2 »

Cautionary Tale wrote: Sat Jan 09, 2021 11:57 am Money (and what it buys) can't satisfy the soul.
Absolutely, most important realization every day as a Blessing. Market up- market down , it’s all temporary noise. Long term market is up but life is down.
"The fund industry doesn't have a lot of heroes, but he (Bogle) is one of them," Russ Kinnel
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Re: The Accumulation of Wealth

Post by TheTimeLord »

Totally understand what you are saying and where you are coming from.
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Normchad
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Re: The Accumulation of Wealth

Post by Normchad »

This is the BH forums! We espouse passive investing, and buying the entire haystack, and staying the course. If you do this, it will be boring. You could basically automate the whole thing and walk away for a couple of decades.

So that feeling is normal I think, and it’s okay.

This is why so many posts on BH are about other things. We’ve got the big stuff figured out, and the only things left to think about are home repairs and buying cars.

Congratulations to you on having achieved success, and reaching the boring level. If you’re like me, in time, your feelings will shift to worry about not losing what you’ve worked so hard to accumulate.
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Re: The Accumulation of Wealth

Post by TheTimeLord »

justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.
Just curious, are you more financially successful than your parents, siblings and cousins? Sometimes it is hard to picture what is beyond what was modeled for us.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]
sandan
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Re: The Accumulation of Wealth

Post by sandan »

I think the "balance" might get boring, but the tax and expense consequence of each action keeps getting magnified. So that part seems to grow in "excitement" for me.
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Re: The Accumulation of Wealth

Post by qwertyjazz »

Not sure what the answer is when the goals in life always change. Sometimes the new goal is just not as important as the last one. Security as defined by a certain amount in the bank or savings so you can keep feeding your family is huge. Then having enough for a bunch of years is also great. Then it seems like it gets into a slog of saving enough to not work anymore. The urgency and importance are gone. It needs to happen but work becomes more annoying without the joy of a paycheck. You wonder how other people do this for decades, but you feel guilty given you have a good paycheck and a good life that others do not. My answer is you just put on your shoes everyday and go to work. Momentum carries you through. Remember to be grateful which can be psychologically helpful. Make it a routine.
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terran
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Re: The Accumulation of Wealth

Post by terran »

Congratulation, you've discovered What it Feels Like to Become Rich

Side note: there are ways to access retirement funds early, so don't worry too much about that
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Re: The Accumulation of Wealth

Post by abuss368 »

Scott S wrote: Sat Jan 09, 2021 2:44 am "Boring" is exactly how it should be. :sharebeer
Excellent advice! Boring at the lowest cost is good.

Tony
John C. Bogle: “Simplicity is the master key to financial success."
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Re: The Accumulation of Wealth

Post by Cruise »

justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am Since learning about Bogleheads (and the fortunance of recent annual income gains), our net worth has increased by about $460,000 over the last 2 years. Depending on further market gains, the 2-comma club could be in sight in 2 years. Most of the money will be in retirement accounts, so not really touchable for a while.

I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.

I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".

I'm not really sure what the point of my post is. I guess after 2 years of diligent saving and investing and the "excitement" of watching the portfolio grow, I didn't realize that after reaching a certain point the excitement would wear off. Which is not to say I want to stop seeing it grow or see it crash, by any means...

I can't imagine how the 8-figure club feels, wonder if they have any of the same thoughts or if they love continuing to rake it in.
Congratulations that your hard work is resulting in financial success. You can look back and say "Job well done!" But, the "Job" is not completed until you achieve financial independence. Reaching FI is not supposed to be exciting. If you feel bored by the process, perhaps you are thinking of your savings/retirement accounts as piggy banks waiting to be raided rather than investments in your financial future.

Have you set specific goals on what your yearly savings rate will be as well as an annual budget? That is a start, because once these are achieved, you can make sure you have some excitement in life by purchasing experiences for you and your family.

Good luck and keep up the good work.
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justsomeguy2018
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Re: The Accumulation of Wealth

Post by justsomeguy2018 »

TheTimeLord wrote: Sat Jan 09, 2021 12:29 pm
justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.
Just curious, are you more financially successful than your parents, siblings and cousins? Sometimes it is hard to picture what is beyond what was modeled for us.
By far.

Most of my family's net worth is probably almost $0. My parents do own their home but I doubt the home is worth even $100k. But at least its something.

I should add - that also puts me in a weird place psychologically. When rest of the family lives in borderline poverty (not exactly TRUE POVERTY but you get the point). Lower middle class.
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Re: The Accumulation of Wealth

Post by TheTimeLord »

justsomeguy2018 wrote: Sat Jan 09, 2021 3:34 pm
TheTimeLord wrote: Sat Jan 09, 2021 12:29 pm
justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.
Just curious, are you more financially successful than your parents, siblings and cousins? Sometimes it is hard to picture what is beyond what was modeled for us.
By far.

Most of my family's net worth is probably almost $0. My parents do own their home but I doubt the home is worth even $100k. But at least its something.

I should add - that also puts me in a weird place psychologically. When rest of the family lives in borderline poverty (not exactly TRUE POVERTY but you get the point). Lower middle class.
It makes perfect sense. You have to find a way to make your motivation internal because you won't be motivated comparing things to environment you have known most of your life. This is not a knock on anyone it is just to say you have reached the point where you can only compare to your goals and the life you want to strive for. Hope that makes some sense and is useful.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]
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justsomeguy2018
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Re: The Accumulation of Wealth

Post by justsomeguy2018 »

terran wrote: Sat Jan 09, 2021 12:45 pm Congratulation, you've discovered What it Feels Like to Become Rich

Side note: there are ways to access retirement funds early, so don't worry too much about that
That 1st article sums up how I am feeling pretty closely.
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Re: The Accumulation of Wealth

Post by student »

While accumulating, don't deprive yourself of things that you enjoy. I made the mistake of not traveling when I was young.
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Re: The Accumulation of Wealth

Post by anon_investor »

justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am Since learning about Bogleheads (and the fortunance of recent annual income gains), our net worth has increased by about $460,000 over the last 2 years. Depending on further market gains, the 2-comma club could be in sight in 2 years. Most of the money will be in retirement accounts, so not really touchable for a while.

I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.

I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".

I'm not really sure what the point of my post is. I guess after 2 years of diligent saving and investing and the "excitement" of watching the portfolio grow, I didn't realize that after reaching a certain point the excitement would wear off. Which is not to say I want to stop seeing it grow or see it crash, by any means...

I can't imagine how the 8-figure club feels, wonder if they have any of the same thoughts or if they love continuing to rake it in.
It sounds like you do not have a bunch of kids who you need to save more money for to pay for their college and grad school :shock: .
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justsomeguy2018
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Re: The Accumulation of Wealth

Post by justsomeguy2018 »

anon_investor wrote: Sat Jan 09, 2021 4:23 pm
justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am Since learning about Bogleheads (and the fortunance of recent annual income gains), our net worth has increased by about $460,000 over the last 2 years. Depending on further market gains, the 2-comma club could be in sight in 2 years. Most of the money will be in retirement accounts, so not really touchable for a while.

I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.

I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".

I'm not really sure what the point of my post is. I guess after 2 years of diligent saving and investing and the "excitement" of watching the portfolio grow, I didn't realize that after reaching a certain point the excitement would wear off. Which is not to say I want to stop seeing it grow or see it crash, by any means...

I can't imagine how the 8-figure club feels, wonder if they have any of the same thoughts or if they love continuing to rake it in.
It sounds like you do not have a bunch of kids who you need to save more money for to pay for their college and grad school :shock: .
Lol we have a 1 year old. Have $9k saved in a 529 so far.
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Picasso
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Re: The Accumulation of Wealth

Post by Picasso »

justsomeguy2018 wrote: Sat Jan 09, 2021 4:43 pm
anon_investor wrote: Sat Jan 09, 2021 4:23 pm
justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am Since learning about Bogleheads (and the fortunance of recent annual income gains), our net worth has increased by about $460,000 over the last 2 years. Depending on further market gains, the 2-comma club could be in sight in 2 years. Most of the money will be in retirement accounts, so not really touchable for a while.

I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.

I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".

I'm not really sure what the point of my post is. I guess after 2 years of diligent saving and investing and the "excitement" of watching the portfolio grow, I didn't realize that after reaching a certain point the excitement would wear off. Which is not to say I want to stop seeing it grow or see it crash, by any means...

I can't imagine how the 8-figure club feels, wonder if they have any of the same thoughts or if they love continuing to rake it in.
It sounds like you do not have a bunch of kids who you need to save more money for to pay for their college and grad school :shock: .
Lol we have a 1 year old. Have $9k saved in a 529 so far.
Underfunded! Step it up!
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Re: The Accumulation of Wealth

Post by anon_investor »

justsomeguy2018 wrote: Sat Jan 09, 2021 4:43 pm
anon_investor wrote: Sat Jan 09, 2021 4:23 pm
justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am Since learning about Bogleheads (and the fortunance of recent annual income gains), our net worth has increased by about $460,000 over the last 2 years. Depending on further market gains, the 2-comma club could be in sight in 2 years. Most of the money will be in retirement accounts, so not really touchable for a while.

I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.

I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".

I'm not really sure what the point of my post is. I guess after 2 years of diligent saving and investing and the "excitement" of watching the portfolio grow, I didn't realize that after reaching a certain point the excitement would wear off. Which is not to say I want to stop seeing it grow or see it crash, by any means...

I can't imagine how the 8-figure club feels, wonder if they have any of the same thoughts or if they love continuing to rake it in.
It sounds like you do not have a bunch of kids who you need to save more money for to pay for their college and grad school :shock: .
Lol we have a 1 year old. Have $9k saved in a 529 so far.
Better get a move on that :wink: .
Topic Author
justsomeguy2018
Posts: 1258
Joined: Wed Oct 03, 2018 8:11 pm

Re: The Accumulation of Wealth

Post by justsomeguy2018 »

Picasso wrote: Sat Jan 09, 2021 5:17 pm
justsomeguy2018 wrote: Sat Jan 09, 2021 4:43 pm
anon_investor wrote: Sat Jan 09, 2021 4:23 pm
justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am Since learning about Bogleheads (and the fortunance of recent annual income gains), our net worth has increased by about $460,000 over the last 2 years. Depending on further market gains, the 2-comma club could be in sight in 2 years. Most of the money will be in retirement accounts, so not really touchable for a while.

I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.

I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".

I'm not really sure what the point of my post is. I guess after 2 years of diligent saving and investing and the "excitement" of watching the portfolio grow, I didn't realize that after reaching a certain point the excitement would wear off. Which is not to say I want to stop seeing it grow or see it crash, by any means...

I can't imagine how the 8-figure club feels, wonder if they have any of the same thoughts or if they love continuing to rake it in.
It sounds like you do not have a bunch of kids who you need to save more money for to pay for their college and grad school :shock: .
Lol we have a 1 year old. Have $9k saved in a 529 so far.
Underfunded! Step it up!
That's intentional....I'm leery of putting too much in there given all the unknowns about college education in the future.
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Eagle33
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Re: The Accumulation of Wealth

Post by Eagle33 »

Realize that not all the money in tax-deferred accounts is yours, some is the government's. If you are still bored, you should start learning about taxes. Can you spell RMD?
Rocket science is not “rocket science” to a rocket scientist, just as personal finance is not “rocket science” to a Boglehead.
Pandemic Bangs
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Re: The Accumulation of Wealth

Post by Pandemic Bangs »

justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".
Oh don't worry. It's gonna get plenty exciting for you.

Entertaining to see folks on this forum whose investing lifetime is all within the past happy decade.
Wait 'til I get my money right | Then you can't tell me nothing, right?
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Picasso
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Re: The Accumulation of Wealth

Post by Picasso »

justsomeguy2018 wrote: Sat Jan 09, 2021 6:07 pm
Picasso wrote: Sat Jan 09, 2021 5:17 pm
justsomeguy2018 wrote: Sat Jan 09, 2021 4:43 pm
anon_investor wrote: Sat Jan 09, 2021 4:23 pm
justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am Since learning about Bogleheads (and the fortunance of recent annual income gains), our net worth has increased by about $460,000 over the last 2 years. Depending on further market gains, the 2-comma club could be in sight in 2 years. Most of the money will be in retirement accounts, so not really touchable for a while.

I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.

I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".

I'm not really sure what the point of my post is. I guess after 2 years of diligent saving and investing and the "excitement" of watching the portfolio grow, I didn't realize that after reaching a certain point the excitement would wear off. Which is not to say I want to stop seeing it grow or see it crash, by any means...

I can't imagine how the 8-figure club feels, wonder if they have any of the same thoughts or if they love continuing to rake it in.
It sounds like you do not have a bunch of kids who you need to save more money for to pay for their college and grad school :shock: .
Lol we have a 1 year old. Have $9k saved in a 529 so far.
Underfunded! Step it up!
That's intentional....I'm leery of putting too much in there given all the unknowns about college education in the future.
Don’t mind my jokes. You are doing great.
hoops777
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Re: The Accumulation of Wealth

Post by hoops777 »

Cautionary Tale wrote: Sat Jan 09, 2021 11:57 am Money (and what it buys) can't satisfy the soul.
There is a great blog on Humble Dollar by Jonathan Clements on 12/25 about what money can buy. I think he would disagree with you.
K.I.S.S........so easy to say so difficult to do.
bwalling
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Joined: Thu Nov 25, 2010 1:04 pm

Re: The Accumulation of Wealth

Post by bwalling »

manatee2005 wrote: Sat Jan 09, 2021 3:57 amTime to buy a jet ski
An excellent way to make yourself want to buy a boat. It's a slippery slope - stay off it.
Cautionary Tale wrote: Sat Jan 09, 2021 11:57 am Money (and what it buys) can't satisfy the soul.
No, but it can buy you the freedom from needing to work.
SQRT
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Re: The Accumulation of Wealth

Post by SQRT »

manatee2005 wrote: Sat Jan 09, 2021 3:57 am
justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am
I can't imagine how the 8-figure club feels
Time to buy a jet ski
Well, it feels pretty good I can assure you. Jet skis are a lot of fun. With 8 figures you can have several along with a boat and vacation property to use them. Keep saving.
manatee2005
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Re: The Accumulation of Wealth

Post by manatee2005 »

bwalling wrote: Sun Jan 10, 2021 8:57 am
manatee2005 wrote: Sat Jan 09, 2021 3:57 amTime to buy a jet ski
An excellent way to make yourself want to buy a boat. It's a slippery slope - stay off it.
Cautionary Tale wrote: Sat Jan 09, 2021 11:57 am Money (and what it buys) can't satisfy the soul.
No, but it can buy you the freedom from needing to work.
I already want to buy a yacht, so jet ski is the frugal way to go
deikel
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Re: The Accumulation of Wealth

Post by deikel »

For your amusement (since you are bored)

We passed the two comma club in '19 and I had intended to take DW out to the most expensive restaurant in town (for perspective: I perceive a 50 USD dinner for two as expensive and this place would have taken us back a good 250 USD i guess). DW response at the time was that this is all just funny money anyway and we should wait with any celebration.

'20 came around, COVID happened and the net worth dropped and then increased by a lot more then it dropped (I am claiming an assist due to some moves I made). We are now solidly two comma and have revisited the idea of the dinner in '21 - turns out, the restaurant in question closed its doors permanently due to COVID and missing patrons.

We decided to tell the kids that there is reason to celebrate and asked what they wanted - we ended up taking pizza out from Dominoes and did a movie night - had a lot of fun.

Not sure what the punch line should be, something between 'boring is good and shows the system is working' and ' two comma club means little'

At some point the limiting commodity becomes time and health - be ready for that - let the boring money system do the job for you. Have fun !
Everything you read in this post is my personal opinion. If you disagree with this disclaimer, please un-read the text immediately and destroy any copy or remembrance of it.
usagi
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Re: The Accumulation of Wealth

Post by usagi »

justsomeguy2018 wrote: Sat Jan 09, 2021 6:07 pm That's intentional....I'm leery of putting too much in there given all the unknowns about college education in the future.
Bingo. There are many astute comments made by many posters on this board, and your comment is now among them.

In reading your comments, I tend to think you are suffering from a variant of the adult orphan syndrome, only in this case the alienation you likely feel is do the fact you wisely realize you cannot in good conscience reveal your "success" to your family or former peer group.

It is a good problem to have, when you sort of long for the struggle that those you grew up with, those you were close to still engage in on a day to day basis.

At any rate, that is my armchair psychologist guess. If I am correct, then I say, welcome to the club. It can be a disquieting place to be and you are not alone, though you may feel that way at times.
Topic Author
justsomeguy2018
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Re: The Accumulation of Wealth

Post by justsomeguy2018 »

usagi wrote: Sun Jan 10, 2021 6:34 pm
justsomeguy2018 wrote: Sat Jan 09, 2021 6:07 pm That's intentional....I'm leery of putting too much in there given all the unknowns about college education in the future.
Bingo. There are many astute comments made by many posters on this board, and your comment is now among them.

In reading your comments, I tend to think you are suffering from a variant of the adult orphan syndrome, only in this case the alienation you likely feel is do the fact you wisely realize you cannot in good conscience reveal your "success" to your family or former peer group.

It is a good problem to have, when you sort of long for the struggle that those you grew up with, those you were close to still engage in on a day to day basis.

At any rate, that is my armchair psychologist guess. If I am correct, then I say, welcome to the club. It can be a disquieting place to be and you are not alone, though you may feel that way at times.
Perhaps something like that....definitely some alienation just due to my life being so very different than my family's and former peer group. It's almost a little awkward.
Out_the_Door
Posts: 4
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Re: The Accumulation of Wealth

Post by Out_the_Door »

Retired in Jan 2020 @ 54 and never really looked at my portfolio outside of setting a AA and maxing them out. It was only when I hit 50 that I took a good look at it and starting mapping out a five year plan to exit the workforce. I shaved a year off of my plan and did it in four but I was obsessed with my balance the two years before I exited.
humblecoder
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Re: The Accumulation of Wealth

Post by humblecoder »

justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am Since learning about Bogleheads (and the fortunance of recent annual income gains), our net worth has increased by about $460,000 over the last 2 years. Depending on further market gains, the 2-comma club could be in sight in 2 years. Most of the money will be in retirement accounts, so not really touchable for a while.

I come from a lower-middle-class upbringing (almost paycheck-to-paycheck living), so to me this is quite a large sum of money we've accumulated.

I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".

I'm not really sure what the point of my post is. I guess after 2 years of diligent saving and investing and the "excitement" of watching the portfolio grow, I didn't realize that after reaching a certain point the excitement would wear off. Which is not to say I want to stop seeing it grow or see it crash, by any means...

I can't imagine how the 8-figure club feels, wonder if they have any of the same thoughts or if they love continuing to rake it in.
I guess I don't equate accumulating savings in terms of "exciting" or "boring". To me, it is something that you do for your own good, like brushing your teeth or eating your veggies. I do it so that when I decide to hang it up, I have enough money saved up that my family and I don't have to worry. So I suppose there is some excitement from the fact that we'll be financially independent, but that is more excitement over what the consequences of the accumulation of savings is rather than excitement over accumulation itself.
bltn
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Re: The Accumulation of Wealth

Post by bltn »

Pandemic Bangs wrote: Sat Jan 09, 2021 10:07 pm
justsomeguy2018 wrote: Sat Jan 09, 2021 2:41 am I'm posting this because it's approaching a point psychologically where continuing to add money to the pile begins to feel "boring". "Boring" in the sense that after a certain point of accumulation and financial security it's kind of like "meh".
Oh don't worry. It's gonna get plenty exciting for you.

Entertaining to see folks on this forum whose investing lifetime is all within the past happy decade.
This post is worth rereading. Just remember to not pay too much attention too market adjustments and stay the course with your saving/investing.
OP, well done. :thumbsup
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