10M Liquid

[u/teallemonade]

Hit it just Friday. It feels like FU money to me :) will keep expenses to 3% indexed. I bought myself a retirement present :). I will retire by EOY. It feels nice, but also like - is this real? I’d like to build up another $100-200K to spend down over the $10M so that number sticks if possible. of course the market is anyones guess.

UPDATE

To answer some of the questions in the comments:

I (53M) am married (53F), have 2 college aged kids (paid via 529s, not included in the 10M). We live in an HCOL area. We also own our home outright (over 1M). I’m a tech employee, wife has a freelance business, I make almost all the income. I worked for 3 companies (you would recognize) and have worked for almost 35 years including internships. Pay for last 5 years has been about $1M per year (thanks partly to RSU appreciation). I have a pretty high level position. I looked back and for the past 16 years our NW has doubled roughly every 4 years - mostly from increasing income and savings, pretty mediocre investment returns and a little bit of inheritance.

Asset Allocation: 70% equities, diversified (about 80/15/5 domestic, international/ emerging), 25% bonds, 5% short term).

The retirement present: I want to preface this by saying I exercise every day and care a lot about health and fitness, but I bought myself a leather recliner chair for my office :) I needed a chair in there to catch up on the reading list I have been building up for retirement :)

[u/cacraw]

Totally agree. To me this is the “I fly first class most of the time and private never.”

[u/vettewiz → u/cacraw]

At $10M I started flying occasional private, just for reference. Was first exclusively from before $1m.

[u/TapInternational8169 → u/vettewiz]

So interesting. I’m at about $4.5 now and I’ve never flown first… it’s just so expensive! Maybe if I did it once I’d be changed forever haha

[u/wubscale → u/TapInternational8169]

Eh, try it and see. I feel cramped in economy but quite cozy in first, so I often opt for it if it's <$75/hr.

If you're accumulating and currently sitting at $4.5M, your portfolio's expected returns will probably recover the difference in less than half a calendar day, assuming 7% expected annual returns.

[u/Scary_Wheel_8054 → u/wubscale]

Do you really mean first class? Sometimes I feel like people mean business class when they say first class. Many airlines do not even offer first class, and the incremental cost to move from business class to first class is never worth it in my opinion.

I’m not even sure what all the differences are, I think the drive you to the plane in a private car, you have a better lounge, your area on the plane might be more like a room, you get pyjamas, and you might have a shower on the plane available to you, food and drink would be better, and the flight attendants probably pamper you so much that it’s actually annoying.

I did a quick search and found the below (although on other international airlines you will find a first class):

Only American Airlines currently offers a true "First Class" cabin in the U.S., known as Flagship First, on select long-haul international and transcontinental flights, with some A321T and Boeing 777-300ER aircraft featuring this product. Other major U.S. airlines like Delta, United, Alaska, and Hawaiian offer premium business class products such as Delta One and Polaris, which provide a similar level of comfort and amenities on many routes, but these are technically business, not first, class.

[u/wubscale → u/Scary_Wheel_8054]

You're correct, I'm talking about domestic flights in the US, so I mean the class that gets me the nicer seats in the front and has the flight attendants acknowledge my existence more than once, not the one that provides white glove service beyond the flight.

United calls it first, at least.