I live and feel middle class yet am technically a millionaire

well ok wrote:

int is the way to save money is to have a wedding that isn't fun?

How much more fun could the average (~$30K) wedding be compared to this person's $8K wedding?

I'm guessing you don't even notice the difference between a "cheap" wedding and an average wedding given how much markup there is.

And I'll also guess that 20K is a heck of a lot more "fun" spent on almost anything else other than a wedding.

technically a millionaire wrote:

Should there be something I should do with my money, that I am not doing.

Cocaine and hookers.

I've calculated that $1.6 million would be a reasonable net worth to feel financially secure in my retirement, not wealthy, just secure.

I'm a homeowner with no liabilities other than my mortgage.

What about those women you be chasin Randy? Aren't they a liability?

We spent 15k but made sure we had great food,

Tons of booze, good music, and great photos. People still talk about how fun it was 5 years later, is included. Thats what you get for not having a dry wedding with shitty food. It serves a lesson to everyone who went what NOT to do for their wedding

vivalarepublica wrote:

I hate old people... wrote:

I am not going to live in a broken down house, have a broken down car, or have a phone that works half the time just to save a few dollars. I'd rather have a great life for the first 60 years of my life then an average one. I will spend money and take risks.

This might actually be a decent philosophy than living conservatively until you have nearly no time left to live.

Obviously easier to say before it happens, but I strongly agree with this. I'd much rather have a great life in my 20s/30s/40s and enjoy everything fully when I'm at my best, and then live very spartan at old age.

Never understood the idea of living really spartan early so you can live extravagantly when you're too old to really enjoy much of it, or certainly the type of things you could do with the money as a younger person.

Precisely. My aunt and uncle lived frugally their entire lives but were very successful. Died the first year of retirement, both of them, 8 months apart. Left 7+million un-enjoyed.

I hate old People... wrote:

TAA wrote:

Why do people spend so much for a wedding? I get wanting to have a good and memorable time, but $40,000? For a presumably young couple that doesn't have a lot of money. Just seems insane to me.

Remember at none white weddings you get a return on your investment.

On my $38k wedding we are expecting to get $30k back. Net loss of $8k.

I didn't think about gifts. Good point

I have 1 credit card that I got on my 18th birthday simply to build my credit score (which is now at 786). I didn't take out any loans for

college; scholarships helped a lot (32 ACT and 1440 SAT) and I worked 25 hrs a week waiting tables. This netted me over $20,000 a year and I was able to live like a king in comparison to most of my friends.

My wedding only cost $5,100. The ceremony took place in the park down the street from my apartment on a Sunday afternoon. The reception was at the restaurant/brewery where I worked in college and was a "champagne brunch". We had beer, wine, and mimosas. They cut as an extremely good deal due to the fact that I was a former employee and am good friends with the owner/manager, etc. However, I realize that this is the exception to the rule. Acting like a $15,000 wedding is extravagant is ridiculous. Even though my wedding cost 1/3 of that amount, I am smart enough to realize this.

My wife and I don't even make 6 figures combined. However, we just bought a home that I love, own our vehicles outright, have iPhone 6s, go out to eat whenever we feel like, etc. We also still managed to save 40% of our income. What you and kmaclam are describing is not a "prudent lifestyle"; it is ridiculous and cheap.

Nice job, it will help when kids come along

live it up wrote:

What about those women you be chasin Randy? Aren't they a liability?

They may be if I could catch them.

Let em chase you. Just play hard to get, it'll drive em wild.

The key is not to have the mindset of having a lump sum at retirement. You want to have a sustainable income that you can live off of during retirement.A good financial planner should be able to help you with this.

Randy Oldman wrote:

I've calculated that $1.6 million would be a reasonable net worth to feel financially secure in my retirement, not wealthy, just secure.

I'm a homeowner with no liabilities other than my mortgage.

$1.6 million in net assets is an arbitrary figure I'm using to justify early retirement.

At that point I should have sufficient income to sustain me through to exercising my mortal coil shuffling options.

I made the decision to retire with a million pounds at 4 years old, back when a pound was worth 20 shillings.

This is the way the average guy on the street manages his long-term financial strategy.

well ok wrote:

Cheap weddings wrote:

We spent like $8k on a very nice wedding a few years ago. Here is how we saved:

I got married at age 38 and could have spent more. Just didn't want to.

So your point is the way to save money is to have a wedding that isn't fun?

LOL...the $30k we saved over the $38k wedding is now worth $60k+..

I'd rather have the money and memories of a simple weeding than some jagoff second cousin remembering how drunk they got on my dime.

You get almost all of that back numnuts, what is so hard to understand about that? You host an awesome wedding AND it doesn't cost much. It's about life experiences, not being a boring prude. Everyone remembers how retarded your wedding was.

Cheap weddings wrote:

well ok wrote:

So your point is the way to save money is to have a wedding that isn't fun?

LOL...the $30k we saved over the $38k wedding is now worth $60k+..

I'd rather have the money and memories of a simple weeding than some jagoff second cousin remembering how drunk they got on my dime.

get that counting right wrote:

When deciding whether you're a millionaire/billionaire you should never include the value of your home.

So just relax. You're probably not a millionaire.

That's nuts not to consider home equity when calculating wealth. Wouldn't you say there's a difference between three people all with $900K in liquid investments, but one rents, one owns a $500K home outright and one owes $600K on a $500K home? Only one of the three is a millionaire.

My sister's wedding cost $60. 30 years later she has a wonderful marriage, a lovely house and 2 beautiful grown-up girls, who won't be getting expensive weddings.

0/10You slipped when you brought up not having a smart phone.

technically a millionaire wrote:

I'm 60 and just figured out my worth and technically I'm a millionaire. Its weird, because even though being a millionaire isn't what it used to be, you're still a millionaire.

I live quite middle class. Don't have a smart phone, rarely take vacations requiring air travel, and am very careful about what I order at restaurants so as not to get a big bill.

I have a good pension for when I retire, but still I can't spend money frivolously. I don't feel "well to do" but really feel like working middle class. I drive cars into the ground before I replace them.

Should there be something I should do with my money, that I am not doing.