Comments on: How Rich Do You Want to Be?

By: Early Retirement Extreme

Early Retirement Extreme — Tue, 01 Jun 2010 01:35:07 +0000

I pretty much want to be rich enough to do everything I want within reason. Most often the limiter is not money but time. I have enough time and no matter how much money a millionaire has, he will never have more time than me.

In terms of million dollar experiences, I think it’s no fun to own a plane if you don’t know how to fly it or a mega yacht you don’t know how to sail. In terms of sailing, it is a lot more fun to competently handle a small boat than being ferried around on a big boat; even if you own it.

So in that regard I am more in favor of “1 year” experiences than “1 million dollar experiences”, that is, experiences where it takes a year to learn to enjoy them than experiences where it takes a large sum of money to go as a spectator/passenger.

By: Edwin | Finantage

Edwin | Finantage — Thu, 20 May 2010 20:32:48 +0000

First I would go and get my MBA preferably from NorthWestern. After that I would complete a Ph.D in Economics. It’s pretty much an extension of my current education but I would take a wide variety of classes from anthropology, physics, and more specialized classes from business and economics that wouldn’t directly help me acquire a graduate degree.

By: Budgeting in the Fun Stuff

Budgeting in the Fun Stuff — Thu, 20 May 2010 20:32:43 +0000

For retirement, we’re aiming for “enough money to pay the bills and live a fulfilling life” with a splash of “million dollar experiences” every year or two.

That’s how we live now as well, but we have to work to do it. We’re on track for saving enough that our retirement will be exactly how we live now minus the full time job and adding in more hobbies and volunteer work.

By: Abigail

Abigail — Wed, 19 May 2010 20:24:20 +0000

I would definitely like to be comfortable, but I wrote a whole post about why I didn’t want to be rich. “Rich” connotes social responsibilities that I’m not ready to take on. (When we have more money, I will devote some to charity, but when you’re wealthy, people are constantly asking.)

And, honestly, I don’t think I’d want to be rich enough to have every single desire fulfilled. I like to not have to work myself to the bone to reach my goals. But if everything is handed to you, how do you know what’s valuable and what isn’t?

I prefer the idea of having enough money that we can take nice vacations without scrimping too much, having enough money to have a decent size house (3-4 bedrooms plus a mother-in-law suite for my husband’s mom) and spend a little more than we’d like to admit on clothes or other baubles.

By: Edwin | Finantage

Edwin | Finantage — Wed, 19 May 2010 20:04:52 +0000

I’ve always thought that if I had a big windfall, I would spend as much time in school as possible. While I would love to have a nice house and car and be able to vacation to exotic places fairly often, I think if that money came without a commitment, I would just go back to school.