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Put in in a range of safe investments and live a quiet life. You’re not rich, your very well off, it’ll last till your death in great comfort if you are carefu

Put in in a range of safe investments and live a quiet life. You’re not rich, your very well off, it’ll last till your death in great comfort if you are careful. Don’t start giving it away or spending it.

lucasmullens 8y ago
Having $8M isn't rich to you? That's a lot of money, you probably should give at least some of it away to charity.
- dagw 8y ago
  It's "rich" in the sense that if you're smart and a bit frugal about it you'll never have to work again. It's not "rich" in the sense of never having to worry about money again. Really rich people will spend $8M adding a new garage to their summer house.
  - hnaccy 8y ago
    >It's "rich" in the sense that if you're smart and a bit frugal about it you'll never have to work again If does nothing but spend money he can spend $150k every year until he dies. Not exactly frugal.
    - Majestic121 8y ago
      150k$ a year is rich in Vietnam maybe, but if you plan to stay in the west, you'd be upper middle class at most
      - hnaccy 8y ago
        $150k net for 50+ years is upper middle class at most in America? Jeez some people are in a bubble. Reminder this is assuming he completely stops working and does basically nothing with the money except match inflation.
        Majestic121 8y ago
        According to this : https://www.thebalance.com/definition-of-middle-class-income-4126870 https://www.thebalance.com/definition-of-middle-class-income... 150k is just the limit between upper middle class and high income, and most politicians use 200ke as the definition of high income. You might have a different definition of upper middle class, but mine has following
        hnaccy 8y ago
        That's pre-tax.
- AnimalMuppet 8y ago
  I think it was the founder of Maxim (don't remember his name, and can't point you to a link) who categorized various levels of "rich". Below $20 million (assets, not income) he classified as "the well-to-do poor". Yeah, maybe his perspective is skewed. Still, there are people who seriously suggest that $8 million doesn't make you "rich".
ryanmercer 8y ago
>You’re not rich, your very well off, His 4% safe withdrawal rate is 10x my gross salary... to many of us he is in fact now quite rich. I need 650-700k to retire,OP never ever ever ever ever ever has to work again.
josefresco 8y ago
#1 pet peeve of people with large personal wealth is their aversion to being called "rich". You're rich, embrace it, own it, even if you didn't earn it. I was once hired to build a website that catered to people that I would call "rich". I remember the horror on their faces when I casually asked "do rich people do X?"

lucasmullens 8y ago

Having $8M isn't rich to you? That's a lot of money, you probably should give at least some of it away to charity.

dagw 8y ago
It's "rich" in the sense that if you're smart and a bit frugal about it you'll never have to work again. It's not "rich" in the sense of never having to worry about money again. Really rich people will spend $8M adding a new garage to their summer house.
- hnaccy 8y ago
  >It's "rich" in the sense that if you're smart and a bit frugal about it you'll never have to work again If does nothing but spend money he can spend $150k every year until he dies. Not exactly frugal.
  - Majestic121 8y ago
    150k$ a year is rich in Vietnam maybe, but if you plan to stay in the west, you'd be upper middle class at most
    - hnaccy 8y ago
      $150k net for 50+ years is upper middle class at most in America? Jeez some people are in a bubble. Reminder this is assuming he completely stops working and does basically nothing with the money except match inflation.
      - Majestic121 8y ago
        According to this : https://www.thebalance.com/definition-of-middle-class-income-4126870 https://www.thebalance.com/definition-of-middle-class-income... 150k is just the limit between upper middle class and high income, and most politicians use 200ke as the definition of high income. You might have a different definition of upper middle class, but mine has following
        hnaccy 8y ago
        That's pre-tax.
AnimalMuppet 8y ago
I think it was the founder of Maxim (don't remember his name, and can't point you to a link) who categorized various levels of "rich". Below $20 million (assets, not income) he classified as "the well-to-do poor". Yeah, maybe his perspective is skewed. Still, there are people who seriously suggest that $8 million doesn't make you "rich".

ryanmercer 8y ago

>You’re not rich, your very well off, His 4% safe withdrawal rate is 10x my gross salary... to many of us he is in fact now quite rich. I need 650-700k to retire,OP never ever ever ever ever ever has to work again.

josefresco 8y ago

#1 pet peeve of people with large personal wealth is their aversion to being called "rich". You're rich, embrace it, own it, even if you didn't earn it. I was once hired to build a website that catered to people that I would call "rich". I remember the horror on their faces when I casually asked "do rich people do X?"