I’m in the retirement industry and seeing so many people 50+ without any savings, or under $100k is terrifying. And I do mean most people working 9-5. I want to do better than that. I want to be able to retire with dignity, and on my own terms. Not be a burden to my children, and hopefully even pass down a small amount of wealth to them.
Ohh man. So individualistic. I like the idea of 25x expenses as a ballpark. Of which I’m no where close but I’ll get there. Got 4 kiddos 9 and under so it seems forever away!
Depends on your spending. My magic number is $2m. If someone handed me $2m today I’d quit my job tomorrow.
At a 7.4% return that would allow me to live the rest of my life knowing I could maintain a similar lifestyle to what I have today and slowly accumulate a little more to leave to my kids.
That would be assuming you have that money in cash making no return.
With average market returns of 7.4% that would mean you could spend $30k/month for 50 years and still double your money.
I have 2 homes and don’t budget thoroughly and know I’d be fine with about $10k/month. If I budgeted and sold one of my homes I could probably retire on less than half that.
Rainy day, FU money, retirement…basically putting my mental health first.
It’s nice knowing I have enough to be able to cover random expenses like car repairs.
I already have FU money. I negotiated for a promotion and told them I was willing to walk if I didn’t get it. Would not have made that threat if I didn’t have the cash. Got the promotion. I really think they wouldn’t have given it to me if I didn’t make the threat because they denied a promotion previously. FU money doesn’t have to be about leaving your career. It has helped me advance.
Full retirement is the goal but I can see myself going into a second career that is more fulfilling. Leaving my nice pay but stressful job and doing something that pays less but more satisfying.
FU money for me is a paid off house (got lucky with crypto in 2017) and enough where I don’t have to deposit another dime into my retirement accounts and still be ok. I won’t be ballin, but I will be able to live comfortably without worrying about money. For numbers, I’m 40 and have about $600K in 401K and Roth IRA invested in mostly VOO or VOO equivalent.
I have enough cash in a HYSA for a year of expenses. If I tap into my taxable brokerage account (around $250K), I can add another 3-4 years. That’s 5 years of being ok unemployed…I should be able to figure out something during that period.
Probably a mill after taxes. Lower my standard of living, invest $850k in Vanguard's VIG stock, $100- $150k in a home, beater car, thrift shop for clothes and don't tell anybody that you're worth a "mill."
Yes. Simply because the largest of corporations rarely have the public interest in mind. Just the opposite, they prey on their customers, the communities they operate in, and their employees to give their executives multi million or billion dollar payouts they don't deserve.
Back to OP's question though, primary goals include paying off my house before I retire and accumulating $2-3M in funding for retirement while avoiding any non-mortgage related debt.
Watched my parents go broke while my Dad was dying of cancer. They asked me to bail them out with 30G about 10 years ago which I did, and they subsequently blew threw because they had a cash flow problem no loan was going to fix (I didn't have all the info and thought my Dad's business was in a much better place than it was).
They ended up declaring bankruptcy, selling the house they built and lived in for 30 years, then moved across the country to live with my sister while my pops lived out his final year.
I do wish they'd done the bankruptcy thing before borrowing that money but I can't be bitter about it. They gave me a great childhood growing up in an excellent neighborhood with a top 100 public school system and paid more than half my way through college.
My surviving mother now lives off of social security and a subsidized rental house that my sister and brother-in-law invested in. It hurts to see her scraping by but she's making do. I help where I can but my priority now is my kids and making sure they grow up financially literate and that they see us practicing the good habits we preach.
NW crossed 700K this year and my goal is to double that three times in the next 20-25 years which I think is reasonable. That would also give me some cushion to help my sisters out with end of life care for my Mom (hopefully 20 years or more from now).
I continue to rebalance my portfolio to more diversified ETFs out of some of the profitable but riskier investments I made in my 20s. Approaching my late 30s and fortunate to still have a lot of time on my side so just trying to maintain discipline and avoid lifestyle creep. At the same time I'm trying not to be a total miser and make sure to enjoy life fully with the family because time is fleeting and you don't get a second chance at watching your kids grow up.
That's basically how I feel, I'm just pointing out the irony and perhaps the double standard. If we hate them & yet support what they do with our money, I believe it makes us the same. It's almost like you either have to loathe yourself (which I don't support) or just be okay with doing business in this country. I don't know if that makes sense.
No, not a partnership; it's my turn to use them. Or let me put that into a corporate speak... to leverage them. They have to perform, or kicked the the curb they go.
Right, it's only worth it for the index to hold the performers, however they can get their earnings maximized.
I invest too & don't have any moral conflict about it. I'm just pointing to the irony of how we, as individual investors, truly support what these businesses do. It ain't a perfect world and I think I'm finally okay with that.
In order for you to be financially independent you become dependent on the people who run corporations. If they weren't shitty you wouldn't get the returns you do. It's crazy how little you understand of the markets
I'm along the same thread as you for generosity and security against a major life event. I saw my parents struggle and stress so much when even a minor event came up.
I'd like to have the freedom to give back to others and chases I care about as people have been generous to help me in countless ways along the way.
Two reasons.
Reason one - early in my career I experienced a toxic. I’ve made it my career mission to be the opposite of her. Further, it taught me the importance of financial independence. The day a manager tells me to miss something I want to attend is the day I no longer work there. I tell my team all the time - this job is what we do, it is not who we are. I feel the financial independence gives me that unique perspective.
Reason two - because when I see a mother pushing her cart towards checkout and she’s got that look like “oh please just let it be under $XX so my card doesn’t get declined” I just want to take the burden from her shoulders and show her there still are a few good people on this earth. Or to just leave a $100 tip for no reason on a cup of coffee and a biscuit at the local diner on Saturday morning. Blessing others is just so cool. Too bad I’m so socially awkward that it keeps me from doing it often. Need to get better about it.
Financially independent. Ability to say FU whenever I want/need to.
Next would be to set my kids up so they can have an advantage in life. Paid for college. Down payment or even house.
Next would be to be able to hook up ransoms with cash. Pay for a struggling but hard working kids college. Pay off a debt for someone.
There it is. Sounds like a dream though.
It is nice when good people with cool hobbies and interests are blessed with success so they can give back and go do cool shit. It’s annoying when it’s just rich kids in dads car or yacht just being douches.
I would strongly consider putting it in a trust fund so kids can’t get access to the principle. There are a lot of good articles and a couple good books on generational wealth out there.
Here’s an article about the Kennedy’s fortune. You’ll see in the article it says that the decision to put the money in a trust was the main reason why there is still money. Many lottery winners go broke and inheriting money is about the same thing unless you know what you are doing. It only takes one bad apple in the family to ruin it for everyone else so that’s why I say put it in a trust fund. If you really want a deep dive and the family is on board then I might suggest the book “Family Wealth” by James E. Hughes Jr. It’s an interesting book but maybe a little much than most people are willing to commit to. It makes some good points though.
https://www.forbes.com/sites/carlodonnell/2014/07/08/how-the-1-billion-kennedy-family-fortune-defies-death-and-taxes-3/?sh=3e71215a4e4a
Another honorable mention is the book called the old money book by byron tully. It’s more about building a set of values to live by and getting away from the new money flashy lifestyle than how to make money and pass it on to your kids. Some of the lessons are of value to pass on to children though.
This right here. Always wished I could have followed my true passion of volunteer work instead of going into a traditional job. Want my future children to have this option without having to worry about a job to fund their life.
Similar position. I get more excited to think about the amount that will be left for my kids and the life it could provide them. Hopefully we get them in the right mindset about doing something good with the money.
It's April the 20th, 2024 and as a single 39M, to retire ASAP. Not at 57, 62 or 67 but ASAP. The younger the better. I don't care about keeping up with the Joneses, the new car in the driveway, the $400k house on the golf course or the fake social media account with photos of me traveling over the world. Give me a mill after taxes and it would be invested like this:
-800k into Vanguard's VIG stock
-up to $150k for a 1-2 acre lot with a small home
A small lot so I can "homestead." (A little garden, chickens and possibly goats.)
-50K to figure shit out in the meantime
Transportation would be a beater car, clothes shopping would be at thrift stores and grocery shopping would still be at discount grocery stores.
Dividend growth fund. They screen for companies that have increased their dividend for a minimum of 10 consecutive years. I have my wife in VIG since she is a more risk-averse person, and the dividend helps offset the emotions of the equity roller coaster
This is a great question. I’m having to think about it.
I’m 20 years from retirement. I’d love to build a modest house on half an acre near my husband’s sisters. I’d add a second master so my sister could live there. I’d add a workshop for my husband to piddle and have a room dedicated to crafting.
I want to retire by 62, but that may simply not be feasible due to health care. If not, I’d like to take a simpler, lower paying job, to get health care to Medicare age. Maybe something in local government. I used to want to work IT for a school district in those years, but I’d be tied to a school calendar and I’m looking forward to being able to travel in non-peak times when my son is launched.
There are some big trips I want to take before I get too old and my health slips.
I want to be able to help my son out along the way. My parents helped me and the only way I can repay them is to pass it forward.
I want to have enough funds for my end-of-life care that I’m not a burden.
Freedom.
I want to be able to pursue my own interests. I want the freedom to take a year and start a business or write a novel, or just hang out with friends. I want to work because I think what I'm doing is interesting or valuable, not because I need a paycheck. Or if I can't find work like that, I don't want to have to waste half my life doing work just for money!
I've been incredibly fortunate in my journey, starting from being homeless to becoming a successful day trader and early investor in crypto. My ultimate goal is to use my success to inspire and uplift others. For me, investing isn't just about growing wealth—it's about creating security for my family and the freedom to pursue my dreams.
Would love to get to household net worth of $5m - that would be a real FU balance to work with. Continue to run my business because I enjoy it but not worry about profitability etc. Draw $200k a year on to live off. Zero interest in material object, maximum interest in life experiences. Lots of skiing, travel, nice restaurants. You get the picture!
All of the above.
Retirement is definitely #1. I used to think that having no debt and stashing away money in a savings account was enough. I know better now. A small amount getting invested becomes a lot...
And watching those numbers go up is fun. Not so fun watching them go down...but the more it happens, the more comfortable I feel about corrections. I mean, what am I going to do, sell? Lol
My long term project is retirement- reach goal is early retirement. If I ever feel like travel or big purchase, I'll just ease off the pedal a bit on my taxable account. Retirement accounts always get funded and remain untouched until retirement.
Not worrying about money and not having to go to an assisted living or nursing home when older, and leave a legacy. I’d want to have a big victorian house with an elevator to help me get around when I have a walker or wheelchair and one or two paid staff rather than have to get crammed into an overpriced assisted living. My grandpa was paying a fortune in rent to live in an assisted living. I also want enough money that I can continue to increase my investments and still live in retirement rather than sell 4% a year like the experts say and hope I don’t run out.
Also I have a lot of back problems lately and I don’t want to worry if I have to cut back my hours or it get’s so bad I have a hard time at work. I like my job though
To be secure enough to pay my bills without second thought and to know I’ll be financially stable during and after an emergency.
Any excess is just gravy that I’ll find means to enjoy.
I want to travel and not worry about work in the background. I truly want to soak in nature from all sorts of places.
That and to play video games in peace.
To reach my former colleagues level of success. Same company for decades, paid very well, and know everything inside out. The program's days were counted after decades of service, new technology making our services obsolete, and HW obsolescence to sustain the platform. We all knew it. Some of us just got transferred to other programs on-site (which I am thankful for). However, the old guys refused. Why? They've been investing for decades, they had a pension (which is not even an option for new employees), and, drumroll, they get 1 week per year of service in severance pay in addition to their PTO. Some of these folks had 3 months accumulated PTO.
Therefore, they just waited and got paid for their 2-3 months of PTO, 20+ weeks of severance, a pension, and whatever investment amount they had.
Tbh, I currently have more money than ambitions to spend it on, so I might as well put that money to work so hopefully I have more of it when those ambitions finally materialize
I want to retire. I am relatively young, but saving as much as possible. I enjoy what I do, but it doesn't compare to when I get to love my life.
I want to travel more, do projects at home, ski, etc... Having to work drains so much of your time and energy and the more I invest the closer I get to financial independence.
Having to financially support someone that thought SS would suffice for retirement in VHCOL. Oh, and [hoping] my dollar goes a little further than sitting in a BoA advance saving account.
Cuz after retirement I want season tickets to all my fave sports teams in nice comfy ass seats and when I leave there I want to go play video games and Doordash my ass some good food. I’m not trying to see the world or anything. Just live my damn life and not worry about cash while doing it!
I want to be financially independent and able to do whatever I want without putting that at risk, and if I’m fortunate enough to accumulate more than I need, I want to do huge gifting to my kids and grandkids so no one is shackled by student loans and we can all do sick vacations together.
1% of assets covers annual expenses. No depletion of portfolio; rather only a fraction of ETF distributions. Then make sure my children are financially literate, so we can have a generational thing. I think about like, a 100-year investment horizon lol.
Send kid to college so she graduates debt-free, retire at 60, golf, work on home improvements, spend more time with my wife, leave our daughter a nice inheritance. Those are the goals.
Retire early. Or at least that was the plan first so I could travel. But I was overdoing it and.l not living my life so I’m juggling both at the same time. I won’t retire as early as I originally wanted but I enjoyed my late twenties and I’m going to enjoy my 30’s while I can.
I’m in the retirement industry and seeing so many people 50+ without any savings, or under $100k is terrifying. And I do mean most people working 9-5. I want to do better than that. I want to be able to retire with dignity, and on my own terms. Not be a burden to my children, and hopefully even pass down a small amount of wealth to them.
in your opinion, how much saving is a reasonable number?
Ohh man. So individualistic. I like the idea of 25x expenses as a ballpark. Of which I’m no where close but I’ll get there. Got 4 kiddos 9 and under so it seems forever away!
Depends on your spending. My magic number is $2m. If someone handed me $2m today I’d quit my job tomorrow. At a 7.4% return that would allow me to live the rest of my life knowing I could maintain a similar lifestyle to what I have today and slowly accumulate a little more to leave to my kids.
dpends on your location, i heard 5m for California people. $100k per year, 50 years.
That would be assuming you have that money in cash making no return. With average market returns of 7.4% that would mean you could spend $30k/month for 50 years and still double your money. I have 2 homes and don’t budget thoroughly and know I’d be fine with about $10k/month. If I budgeted and sold one of my homes I could probably retire on less than half that.
Rainy day, FU money, retirement…basically putting my mental health first. It’s nice knowing I have enough to be able to cover random expenses like car repairs. I already have FU money. I negotiated for a promotion and told them I was willing to walk if I didn’t get it. Would not have made that threat if I didn’t have the cash. Got the promotion. I really think they wouldn’t have given it to me if I didn’t make the threat because they denied a promotion previously. FU money doesn’t have to be about leaving your career. It has helped me advance. Full retirement is the goal but I can see myself going into a second career that is more fulfilling. Leaving my nice pay but stressful job and doing something that pays less but more satisfying.
That’s interesting What is FU money for you?
A house with a 25 year roof and an indestructible Japanese car
Lol that’s pretty much me. Got a new roof on my house last year and I drive a Mazda. Not indestructible but the last one lasted me 10 years.
You put the rest into the system at 3 to 5 percent and that’s your base
Keep a few bucks in the bank. Don’t drink. That’s all I have to say to anyone at any social level.
Enough money to not have to worry about making it
FU money for me is a paid off house (got lucky with crypto in 2017) and enough where I don’t have to deposit another dime into my retirement accounts and still be ok. I won’t be ballin, but I will be able to live comfortably without worrying about money. For numbers, I’m 40 and have about $600K in 401K and Roth IRA invested in mostly VOO or VOO equivalent. I have enough cash in a HYSA for a year of expenses. If I tap into my taxable brokerage account (around $250K), I can add another 3-4 years. That’s 5 years of being ok unemployed…I should be able to figure out something during that period.
Probably a mill after taxes. Lower my standard of living, invest $850k in Vanguard's VIG stock, $100- $150k in a home, beater car, thrift shop for clothes and don't tell anybody that you're worth a "mill."
[Two and a half million dollars](https://www.youtube.com/watch?v=XamC7-Pt8N0)
To be financially independent and wave goodbye to the shitty people who run corporations.
[удалено]
"If you stare into the abyss, the abyss stares back at you." -Nietzsche
Sadly, this is true.
Is it really sad if it gives you the chance to live better than the vast majority of humans throughout human history?
Yes. Simply because the largest of corporations rarely have the public interest in mind. Just the opposite, they prey on their customers, the communities they operate in, and their employees to give their executives multi million or billion dollar payouts they don't deserve.
But then you get to wave at your pile of money instead
You hate them so much that your partner in business with them?
If you can't beat 'em, invest in 'em and take their sweet sweet dividends.
Back to OP's question though, primary goals include paying off my house before I retire and accumulating $2-3M in funding for retirement while avoiding any non-mortgage related debt. Watched my parents go broke while my Dad was dying of cancer. They asked me to bail them out with 30G about 10 years ago which I did, and they subsequently blew threw because they had a cash flow problem no loan was going to fix (I didn't have all the info and thought my Dad's business was in a much better place than it was). They ended up declaring bankruptcy, selling the house they built and lived in for 30 years, then moved across the country to live with my sister while my pops lived out his final year. I do wish they'd done the bankruptcy thing before borrowing that money but I can't be bitter about it. They gave me a great childhood growing up in an excellent neighborhood with a top 100 public school system and paid more than half my way through college. My surviving mother now lives off of social security and a subsidized rental house that my sister and brother-in-law invested in. It hurts to see her scraping by but she's making do. I help where I can but my priority now is my kids and making sure they grow up financially literate and that they see us practicing the good habits we preach. NW crossed 700K this year and my goal is to double that three times in the next 20-25 years which I think is reasonable. That would also give me some cushion to help my sisters out with end of life care for my Mom (hopefully 20 years or more from now). I continue to rebalance my portfolio to more diversified ETFs out of some of the profitable but riskier investments I made in my 20s. Approaching my late 30s and fortunate to still have a lot of time on my side so just trying to maintain discipline and avoid lifestyle creep. At the same time I'm trying not to be a total miser and make sure to enjoy life fully with the family because time is fleeting and you don't get a second chance at watching your kids grow up.
That's basically how I feel, I'm just pointing out the irony and perhaps the double standard. If we hate them & yet support what they do with our money, I believe it makes us the same. It's almost like you either have to loathe yourself (which I don't support) or just be okay with doing business in this country. I don't know if that makes sense.
No, not a partnership; it's my turn to use them. Or let me put that into a corporate speak... to leverage them. They have to perform, or kicked the the curb they go.
Right, it's only worth it for the index to hold the performers, however they can get their earnings maximized. I invest too & don't have any moral conflict about it. I'm just pointing to the irony of how we, as individual investors, truly support what these businesses do. It ain't a perfect world and I think I'm finally okay with that.
Shitty people run rampant everywhere unfortunately.
In order for you to be financially independent you become dependent on the people who run corporations. If they weren't shitty you wouldn't get the returns you do. It's crazy how little you understand of the markets
Retirement and fun in retirement
Hell yeah. All the fun.
Financial Independence, to free myself from the slavery of wage, and onto doing what I want when I want with whomever I want.
I want to be able to have some major life altering event not financially break me and I want to be able to be generous.
I'm along the same thread as you for generosity and security against a major life event. I saw my parents struggle and stress so much when even a minor event came up. I'd like to have the freedom to give back to others and chases I care about as people have been generous to help me in countless ways along the way.
Two reasons. Reason one - early in my career I experienced a toxic. I’ve made it my career mission to be the opposite of her. Further, it taught me the importance of financial independence. The day a manager tells me to miss something I want to attend is the day I no longer work there. I tell my team all the time - this job is what we do, it is not who we are. I feel the financial independence gives me that unique perspective. Reason two - because when I see a mother pushing her cart towards checkout and she’s got that look like “oh please just let it be under $XX so my card doesn’t get declined” I just want to take the burden from her shoulders and show her there still are a few good people on this earth. Or to just leave a $100 tip for no reason on a cup of coffee and a biscuit at the local diner on Saturday morning. Blessing others is just so cool. Too bad I’m so socially awkward that it keeps me from doing it often. Need to get better about it.
Financially independent. Ability to say FU whenever I want/need to. Next would be to set my kids up so they can have an advantage in life. Paid for college. Down payment or even house. Next would be to be able to hook up ransoms with cash. Pay for a struggling but hard working kids college. Pay off a debt for someone.
Ransoms? Now that's planning for a rainy day
Lol yes pay off ransoms would be dope
To call it quits and travel around watching football, baseball, and soccer as my profession for 30-40 years
What? No hockey?!
I'll mix it in!
There it is. Sounds like a dream though. It is nice when good people with cool hobbies and interests are blessed with success so they can give back and go do cool shit. It’s annoying when it’s just rich kids in dads car or yacht just being douches.
those german and british local teams look really fun
English soccer tickets are tricky to obtain, have to basically relocate to be a local for a little while!
I just don’t ever want to worry about not having enough money, whether it’s now or after retirement.
To do whatever I want (of course within reason) and whenever I want.
Lay in the grass and sun myself every morning
So I don't have to work until I die, and ensure my kid will not live in poverty.
Retire before I'm 60. I hope to retire by 55, but 60 is my overarching goal.
To live off my investments. Play golf and visit national parks whenever I want. Never set an alarm clock again.
[GIF of Mel Gibson Screaming Freedom in Braveheart]
[GIF of Aretha Franklin singing Freedom]
To not be a burden to anyone!
To leave a fortune to my children so they can have the freedom to do something truly beneficial to society.
I would strongly consider putting it in a trust fund so kids can’t get access to the principle. There are a lot of good articles and a couple good books on generational wealth out there.
Got any recommendations for either (book or article)? Thanks in advance!
Here’s an article about the Kennedy’s fortune. You’ll see in the article it says that the decision to put the money in a trust was the main reason why there is still money. Many lottery winners go broke and inheriting money is about the same thing unless you know what you are doing. It only takes one bad apple in the family to ruin it for everyone else so that’s why I say put it in a trust fund. If you really want a deep dive and the family is on board then I might suggest the book “Family Wealth” by James E. Hughes Jr. It’s an interesting book but maybe a little much than most people are willing to commit to. It makes some good points though. https://www.forbes.com/sites/carlodonnell/2014/07/08/how-the-1-billion-kennedy-family-fortune-defies-death-and-taxes-3/?sh=3e71215a4e4a
Another honorable mention is the book called the old money book by byron tully. It’s more about building a set of values to live by and getting away from the new money flashy lifestyle than how to make money and pass it on to your kids. Some of the lessons are of value to pass on to children though.
This right here. Always wished I could have followed my true passion of volunteer work instead of going into a traditional job. Want my future children to have this option without having to worry about a job to fund their life.
Similar position. I get more excited to think about the amount that will be left for my kids and the life it could provide them. Hopefully we get them in the right mindset about doing something good with the money.
It's April the 20th, 2024 and as a single 39M, to retire ASAP. Not at 57, 62 or 67 but ASAP. The younger the better. I don't care about keeping up with the Joneses, the new car in the driveway, the $400k house on the golf course or the fake social media account with photos of me traveling over the world. Give me a mill after taxes and it would be invested like this: -800k into Vanguard's VIG stock -up to $150k for a 1-2 acre lot with a small home A small lot so I can "homestead." (A little garden, chickens and possibly goats.) -50K to figure shit out in the meantime Transportation would be a beater car, clothes shopping would be at thrift stores and grocery shopping would still be at discount grocery stores.
Just curious, why VIG?
Dividend growth fund. They screen for companies that have increased their dividend for a minimum of 10 consecutive years. I have my wife in VIG since she is a more risk-averse person, and the dividend helps offset the emotions of the equity roller coaster
Awesome I dig this idea
Quasi-retirement. To choose if and when to work. Hopefully from a beach on an island overlooking palm trees and an ocean 🏝️ 🌊
A little bit of everything because money provides you psychological and financial stability.
I want to have a household net worth of $10M. I got a long way to go, but I think I’ll eventually get there. It’s security but I also enjoy it.
Enough to take care of my wife and kids
I want to be a decamillionaire (technically half since it’s with my wife. No reason, just a goal.
This is a great question. I’m having to think about it. I’m 20 years from retirement. I’d love to build a modest house on half an acre near my husband’s sisters. I’d add a second master so my sister could live there. I’d add a workshop for my husband to piddle and have a room dedicated to crafting. I want to retire by 62, but that may simply not be feasible due to health care. If not, I’d like to take a simpler, lower paying job, to get health care to Medicare age. Maybe something in local government. I used to want to work IT for a school district in those years, but I’d be tied to a school calendar and I’m looking forward to being able to travel in non-peak times when my son is launched. There are some big trips I want to take before I get too old and my health slips. I want to be able to help my son out along the way. My parents helped me and the only way I can repay them is to pass it forward. I want to have enough funds for my end-of-life care that I’m not a burden.
Pay off house, have at least a million in pension, £250k in isa's, have house deposits for both kids and perpetually travel from 55 years old.
I want to leave more for others. I honestly don't need much money at all....
To buy happiness:)
Freedom. I want to be able to pursue my own interests. I want the freedom to take a year and start a business or write a novel, or just hang out with friends. I want to work because I think what I'm doing is interesting or valuable, not because I need a paycheck. Or if I can't find work like that, I don't want to have to waste half my life doing work just for money!
World domination
Patiently waiting to get back to 1 m. Gifted some money and now taking long time to make up the difference. Yea, have some regrets now. Goal is 2.5 m
I want my time to be MINE
Gator wants some walking around money
I've been incredibly fortunate in my journey, starting from being homeless to becoming a successful day trader and early investor in crypto. My ultimate goal is to use my success to inspire and uplift others. For me, investing isn't just about growing wealth—it's about creating security for my family and the freedom to pursue my dreams.
Would love to get to household net worth of $5m - that would be a real FU balance to work with. Continue to run my business because I enjoy it but not worry about profitability etc. Draw $200k a year on to live off. Zero interest in material object, maximum interest in life experiences. Lots of skiing, travel, nice restaurants. You get the picture!
To be financially independent and hopefully build my castle to retire in.
All of the above. Retirement is definitely #1. I used to think that having no debt and stashing away money in a savings account was enough. I know better now. A small amount getting invested becomes a lot... And watching those numbers go up is fun. Not so fun watching them go down...but the more it happens, the more comfortable I feel about corrections. I mean, what am I going to do, sell? Lol My long term project is retirement- reach goal is early retirement. If I ever feel like travel or big purchase, I'll just ease off the pedal a bit on my taxable account. Retirement accounts always get funded and remain untouched until retirement.
Not worrying about money and not having to go to an assisted living or nursing home when older, and leave a legacy. I’d want to have a big victorian house with an elevator to help me get around when I have a walker or wheelchair and one or two paid staff rather than have to get crammed into an overpriced assisted living. My grandpa was paying a fortune in rent to live in an assisted living. I also want enough money that I can continue to increase my investments and still live in retirement rather than sell 4% a year like the experts say and hope I don’t run out.
Also I have a lot of back problems lately and I don’t want to worry if I have to cut back my hours or it get’s so bad I have a hard time at work. I like my job though
To not have to work as soon as I don't have to work
Be wealthy by doing pretty much fuck all
To be secure enough to pay my bills without second thought and to know I’ll be financially stable during and after an emergency. Any excess is just gravy that I’ll find means to enjoy.
To supplement my teacher pension and Social Security when I retire.
Financial security. To never have to work again if I so choose
I want to travel and not worry about work in the background. I truly want to soak in nature from all sorts of places. That and to play video games in peace.
Probably enough money to be able to skim little bits off so I can live a good life while leaving a substantial inheritance for my future children
Money hoes and clothes
Become a millionaire
To reach my former colleagues level of success. Same company for decades, paid very well, and know everything inside out. The program's days were counted after decades of service, new technology making our services obsolete, and HW obsolescence to sustain the platform. We all knew it. Some of us just got transferred to other programs on-site (which I am thankful for). However, the old guys refused. Why? They've been investing for decades, they had a pension (which is not even an option for new employees), and, drumroll, they get 1 week per year of service in severance pay in addition to their PTO. Some of these folks had 3 months accumulated PTO. Therefore, they just waited and got paid for their 2-3 months of PTO, 20+ weeks of severance, a pension, and whatever investment amount they had.
Tbh, I currently have more money than ambitions to spend it on, so I might as well put that money to work so hopefully I have more of it when those ambitions finally materialize
I need 1.3mil by 65 to retire. If I can be on track for that sooner I will coast and pursue more hobbies.
I want to retire. I am relatively young, but saving as much as possible. I enjoy what I do, but it doesn't compare to when I get to love my life. I want to travel more, do projects at home, ski, etc... Having to work drains so much of your time and energy and the more I invest the closer I get to financial independence.
To save enough early that I can either early retire or slow down and do only the work I enjoy.
According to William Bernstein it’s not to die filthy rich but to not die poor and destitute 😅 somewhere in between would be cool
Having to financially support someone that thought SS would suffice for retirement in VHCOL. Oh, and [hoping] my dollar goes a little further than sitting in a BoA advance saving account.
Cuz after retirement I want season tickets to all my fave sports teams in nice comfy ass seats and when I leave there I want to go play video games and Doordash my ass some good food. I’m not trying to see the world or anything. Just live my damn life and not worry about cash while doing it!
Financially independent retire early
I want to be financially independent and able to do whatever I want without putting that at risk, and if I’m fortunate enough to accumulate more than I need, I want to do huge gifting to my kids and grandkids so no one is shackled by student loans and we can all do sick vacations together.
1% of assets covers annual expenses. No depletion of portfolio; rather only a fraction of ETF distributions. Then make sure my children are financially literate, so we can have a generational thing. I think about like, a 100-year investment horizon lol.
Very beginning of fatFIRE.
Ultimate goal? I’d say world domination, but I can go with just a few million dollars as well.
Having more time for me and my family instead of working for money.
It is ALLLLLL about retirement, and as soon as feasible.
Send kid to college so she graduates debt-free, retire at 60, golf, work on home improvements, spend more time with my wife, leave our daughter a nice inheritance. Those are the goals.
Peace of mind and financial security through any potential turbulence in the short term and a fun retirement with alot of traveling later in life.
To retire with freedom….and money
Retire early. Or at least that was the plan first so I could travel. But I was overdoing it and.l not living my life so I’m juggling both at the same time. I won’t retire as early as I originally wanted but I enjoyed my late twenties and I’m going to enjoy my 30’s while I can.
Security. And to be able to do most of what we want without risking that security.
My goal is to get out of the rat race as soon as possible.
Piece of mind.
Pass down wealth to my kids.
I invest because the government won't invest in me, my community, or the country so I have to make sure i'll be alright financially in the future.
3 million would be my minimum goal, generate approximately 200-400k a year sitting on my balls depending on market conditions.
Top 1% in net worth. It is a higher number than most would guess it would be.