Saving Advice Forums  

Go Back   Saving Advice Forums > Financial Chit Chat > Investing & Banking

Investing & Banking Stocks, bonds, banking interest rates, CDs and all other investment vehicles you want to talk about.

Like Tree1Likes
  • 1 Post By scfr

Reply
 
LinkBack Thread Tools
  #1 (permalink)  
Old 08-01-2018, 01:33 PM
$ Saving College Senior
 
Join Date: Oct 2013
Forum Posts: 1,831
Default Stages of wealth

This is an interesting article on the stages of wealth. Seen many arguments on the definition of rich and this article seems to remove the amount of money and relates wealth to income vs. spending.

I'm at 7 and hope to be at 8 in 2.5 years.

http://investmentmoats.com/financial...-independence/

Not click bait.
Reply With Quote
  #2 (permalink)  
Old 08-01-2018, 02:36 PM
$ Saving College Senior
 
Join Date: May 2015
Forum Posts: 1,933
Default

When reading this, I start to wonder who wrote and where they live:
  • They can afford to have 4 children, therefore they are rich
  • They work in government civil service, they are much richer than us
  • The family goes for 3 holidays a year, one that is non-southeast Asia, they must be rich
Reply With Quote
  #3 (permalink)  
Old 08-01-2018, 02:46 PM
$ Saving College Senior
 
Join Date: Oct 2013
Forum Posts: 1,831
Default

Quote:
Originally Posted by Nutria View Post
When reading this, I start to wonder who wrote and where they live:
  • They can afford to have 4 children, therefore they are rich
  • They work in government civil service, they are much richer than us
  • The family goes for 3 holidays a year, one that is non-southeast Asia, they must be rich
Those are examples of people assuming you are rich because of those statements. I'm sure people thought I was rich when I was in mega debt.
Reply With Quote
  #4 (permalink)  
Old 08-01-2018, 07:13 PM
$ Saving Post Graduate
 
Join Date: Sep 2006
Forum Posts: 2,636
Default

That's an interesting perspective, thanks for sharing.
Reply With Quote
  #5 (permalink)  
Old 08-02-2018, 10:47 AM
$ Saving College Junior
 
Join Date: Jan 2016
Forum Posts: 1,122
Default

I wouldn't call having one year's worth of expenses saved as having "F U money". Not even 10 years worth. F U money is "I'm mad at you so I'm buying your husband's employer and firing him. F U."

I guess I am at a 6.
Reply With Quote
  #6 (permalink)  
Old 08-02-2018, 11:26 AM
disneysteve's Avatar
Super Moderator
 
Join Date: Jun 2006
Location: New Jersey
Forum Posts: 28,417
Default

I'm between 6 and 7. Of course, if my income were to stop tomorrow for some reason, we could easily adjust our living expenses to make our savings last longer but today, we're at 11-12 years of current spending in savings.

I'm hopeful that that number will start to climb over the next year or two as my income has risen and our expenses have fallen, which is a nice combination when it comes to wealth building.
__________________
Steve

* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.
Reply With Quote
  #7 (permalink)  
Old 08-02-2018, 03:17 PM
Snydley's Avatar
$ Saving HS Sophomore
 
Join Date: Mar 2013
Forum Posts: 159
Default

By wealth aAsset's annual cash flow- do they mean how much your wealth grows on its own (without you contributing) each year?

I am just at 6. Interesting scale.
Reply With Quote
  #8 (permalink)  
Old 08-05-2018, 03:41 AM
$ Saving College Senior
 
Join Date: Oct 2006
Forum Posts: 1,893
Default

We appear to be at 6. For a lot of us, 7 would depend a lot on the market. If the market is bullish...we're at a 7. If its flat or bearish...we're not at a 7.
Reply With Quote
  #9 (permalink)  
Old 08-05-2018, 06:35 AM
$ Saving Post Graduate
 
Join Date: Sep 2006
Forum Posts: 2,636
Default

Quote:
Originally Posted by Snydley View Post
By wealth aAsset's annual cash flow- do they mean how much your wealth grows on its own (without you contributing) each year?
This is just my interpretation, but it looks like the Wealth Asset annual cash flow equals the Wealth Cash Flow as illustrated on the "Wealth Machines / Wealth Cash Flow" diagram. As far as whether or not the individual is contributing or not, that may depend on the types of Wealth Machines, and what you consider to be a contribution. For example, someone who buys and holds rental property, flips properties, or starts & runs a business, isn't just sitting by passively while their "Wealth Machine" spits out money. I would consider the efforts of an active real estate investor or business owner to be contributions.
Snydley likes this.
Reply With Quote
  #10 (permalink)  
Old 08-11-2018, 10:09 PM
QuarterMillionMan's Avatar
$ Saving College Sophomore
 
Join Date: Dec 2012
Forum Posts: 923
Default

I'm about #5.
Reply With Quote
  #11 (permalink)  
Old 08-12-2018, 06:45 AM
bennyhoff's Avatar
$ Saving Jr. College Student
 
Join Date: Feb 2006
Location: In the burbs
Forum Posts: 360
Default

I'm at 7 as is the GF, but adding in our pensions coming down the road we're more like 8, maybe 8+. Intellectually I know this but emotionally I am having a hard time accepting it.
__________________
Don't torture yourself, thats what I'm here for.
Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -7. The time now is 03:32 PM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.