stealth wealth reddit

Posted on December 31, 2020 · Posted in Uncategorized

Press question mark to learn the rest of the keyboard shortcuts, [Biz Owner][Higher Risk Taker][1-20 years to FI? (Serious question), [–]ExpressErnieDavis 23 points24 points25 points 2 years ago (1 child). I actually thought personally though they were stealthy about how they spent money. The community (a small, close knit one where everyone knows everyone) is astonished - how could this guy possibly retire? "Build the life you want, then save for it.". I'm tired of being made to feel guilty by not having gone back to work. I find that much more rewarding than overpriced vittles or trendy booze. I would also presume many stealth wealth stories comes from auto dealerships... Where the salesman assumed the unassuming poorly dressed individual looking at the Ferrari definitely wouldn't be able to afford it. Listed on the disclosure was my primary home, several rental properties, retirement accounts, investment accounts, etc, and very little debt. Estimated (quarterly) tax payments in early retirement, 32/34 SI1K | SR: lol nanny | GI.GO% BroFI, 30s M | Janitor | Western US | Leanfire TBD | STEM degree. [–]pocahontas0716731F&31M/37%SR/39%FI/172k income/military 4 points5 points6 points 2 years ago (0 children). That an interesting option, but won't work for me since I have this money in an educational savings account. Is there a level at which you'd come out of stealth mode? Stealth Wealth Stories (self.financialindependence). You work hard. That's not "rich" to many people, but it suits me. I'm soooo glad that my work doesn't force me to do a "financial disclosure". I saved most of it. [–]firethrowaway3790 6 points7 points8 points 2 years ago (0 children). I'll admit, my FI number is probably sub $2M so if I landed myself in a $10M windfall I'd be upgrading the car that my personal driver drives. Money that comes out of this account for school expenses is tax exempt. This is amazing. The “Art of Stealth Wealth” means practicing modest living and reducing the cost of your largest expense. They never are quick to order up at restaurants and are actually cheap when it comes to gifts usually and even I've noticed they are pretty quick to let other pick up bar tabs...ect. tl;dr: Keeping you mouth shut about FI/RE sometimes can be hard, especially when someone decides you must be broke because you are careful with money. why yes, I was. I don’t understand the idea behind living more frugally before retirement than in it. [–]PetraLoseItDutch, living in the NL, 42F 12 points13 points14 points 2 years ago (1 child). Everytime I see you post I am so inspired by you! If you can find a way to increase your income you’re laughing. Yeah, just say you are self employed. I've had repairman guess I may have money and jack their price up. Paying a student loan does not qualify and I'd have to pay taxes on it. [–]PetraLoseItDutch, living in the NL, 42F 2 points3 points4 points 2 years ago (0 children), [–]BenWillis816 1 point2 points3 points 2 years ago (0 children), [–]ordinary_kittens 21 points22 points23 points 2 years ago (0 children). Forsaking Stealth Wealth is allowed if you qualify for at least THREE of the following conditions. I love the stealth wealth community… it does get annoying from time to time though when i get followed through the stores at the mall… Like yeah, i know i’m not wearing the nicest out fit but calm down! Daily FI discussion thread - December 31, 2020. I hear them talking about college and how they will pay for it. But let’s back up a little. Our relationship took an icy turn, she constantly side-eyed me, and was never the same. You’re half dead at 40. It gives me an outlet to discuss and learn from others who have similar goals and statuses as I do. Stealth Wealth - should you tell people your net worth or your plans? It taught me a lot about the meaning of “big hat little cattle”. Government where a small part of my job deals with contracts. For true stealth wealth that would not even happen. You should try to recruit them to an MLM...that'll shut them up, Sounds like you haven’t been studying the blade. Stealth is useful to low level casters, due to its boost to mana regeneration and cast rate, as well as the ease of obtaining the required runes. And though the name might bring to mind mystery, espionage, and images of the Monopoly man dressed as a ninja, the practice is anything but that. If you’ve never made money online before, or built a WordPress blog to make money, then starting your own WordPress blog can be a little intimidating. I have two kids in high school. Stealth wealth essentially means hiding your wealth. [–]yesrrr 1 point2 points3 points 2 years ago (0 children), [–]fire_away1730s M | Janitor | Western US | Leanfire TBD | STEM degree 57 points58 points59 points 2 years ago (17 children). I stepped up bought my mom a one level house with 20% down by myself. So you put in half of that in 401k (and presumably more in regular savings)? use the following search parameters to narrow your results: This is a place for people who are or who want to become Financially Independent (FI), which means not having to work for money. They can only … OK I know this has come up before, but I haven't seen it in a while and it's my favorite posts on this sub. It’s a lot tougher to do it how I did it versus starting as an analyst out of college where you have a structured career path provided and you just have to outperform your peer group. Would the wisest thing be to put money in a pre tax IRA and 401k and partially switch it over to a roth when my income is low for a year? The recent and sudden move toward stealth wealth could have an impact on the elite economy. nothing too earth shattering, just some standard stuff: vegetarian diet, i eat out like once per week, drive a 10 year old car with 185,000 miles on it, it gets good gas mileage and i usually fix it myself if/when it needs work. My spouse and I could afford a $5k/month apartment in our HCOL area but instead we live in a (very nice) studio and pay less than half that in rent. [–]SiteGuyDale 4 points5 points6 points 2 years ago (3 children), [–]snowdayeveryday 11 points12 points13 points 2 years ago (2 children). [–]zazychick 13 points14 points15 points 2 years ago (0 children). I am thinking i can retire in my mid-30s with mid-7 figures wealth. Unfortunately, many people’s focus may not turn to credit scores until they decide to take a loan. Does it make sense to keep emergency funds in a savings account after a certain point? The difference between stealth wealth vs. being frugal vs. being cheap can be subtle. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. The pandemic of 2020 has created a K-shaped recovery where the investor class has widened the gap between the working class. I’m less stealth wealth nowadays, not because I try to flaunt it, but we’re finally living the life we worked for...lots of international travel, a nice home and no job. It will never go beyond that. Stealth Wealth For many of us, it feels downright uncomfortable to show our wealth to the general public. I have more than 200K saved for their college and they don't know it. [–]LondonPlaneTree 7 points8 points9 points 2 years ago (3 children). He's told he'll never walk again, let alone boat (his true love). [–]Gadwin83 30 points31 points32 points 2 years ago (0 children), I had an older relative lecture me a bit over the summer how important it is that I save at least 10% into my 401k so I can retire one day. threads. Needed a single level place to live but couldn't afford to move. [–]snowdayeveryday 2 points3 points4 points 2 years ago (0 children). Me: Lives in a 1950s 3 br ranch house in a MCOL city, two public sector jobs, drives a paid off Mazda. I objected to the bait-and-switch of being quoted one price and then charged another once there; it had nothing to do with my inability to pay what they were asking. I had a family friend who worked hard, drove beaters, never went out to eat, took few vacations, and dressed like he was on the poverty line. Any studies on variable base at fixed % instead of inflation adjusted withdrawals? Coach them to manage money properly and take the minimum student loans needed. My stealth wealth story is having a boss that was much older than me and earned a higher salary. I call them on that, and they tell me it's a "Service and Delivery" fee, since they assembled it for me and filled it with oil, etc. The pseudo-affluent are a different breed. I figure, okay, well, fair enough. seems like they move 2/3 speed around here :). "How's the job search?" If this doesn’t convince you — listen to Warren Buffet’s story. I’m low-end wealthy with a net worth of over four million (USA) dollars. You’re probably 7 years away from leanfire. Little did he know my milestone was becoming a millionaire. Let's hear your best stealth wealth stories or items! Members. throws feet on the table so I can wear slippers to work. [–]yesrrr 31 points32 points33 points 2 years ago (0 children), [–][deleted] 14 points15 points16 points 2 years ago (0 children). 1) When you hit age 40. maxed out my 2018 401k with last week's paycheck. I have no interest in anything more than my current standard of living, except possibly doing a little more travel. Even after I do RE, I cannot see abandoning the comfortable cloak of stealth. Created Mar 20, 2008. Reddit considers anyone who doesn't eat ramen for every meal as fabulously wealthy. It just has no appeal (or usefulness) that I can see. The moment I tell someone I know what I truly have, I become a target. My cousin has only sort of worked since having their child. [–]deftonite 1 point2 points3 points 2 years ago (1 child). A few months ago I overtipped a waitress at a random Waffle House who was super nice to my kid, $20 on a $10 meal. Turns out, he had been investing money since he started earning it and lived a low-cost, unassuming lifestyle in order to retire early. Your wants and needs aren't written in stone, and less spending is powerful at any income level. [–]FITeacher 17 points18 points19 points 2 years ago* (0 children). He buys a few sailboats, a power boat. AMAs with William Bengen, Mr. Money Mustache, Wade Pfau, etc., have been archived here. [–]MaverickJoseph 16 points17 points18 points 2 years ago (0 children). Archive of previous "Help Me FIRE!" When in doubt, I just claim to be a freelancer. [–]TheOtherSomeOtherGuy 0 points1 point2 points 2 years ago (1 child), [–]Bankster88 1 point2 points3 points 2 years ago (0 children). Get an ad-free experience with special benefits, and directly support Reddit. A lot of my dad’s colleagues are pretty wealthy as well with similar incomes and net worths and they wear calculator watches, casios, timexes, and seikos. The sad thing is, shortly into his retirement, maybe around 65 years old, he gets a bug that nearly paralyzes him. 99% are not going to understand early retirement. It took three years for the salesman to stop calling me (They wouldn't let me test drive without a phone number). [–]Iliketocoffee 51 points52 points53 points 2 years ago (3 children). Warren Buffet is the second richest person in the world and still lives in a modest home he bought in 1958. Me and everyone I know has been stuck in perpetual poverty our whole lives. How do you manage low expensive in a VHCOL area? There's five of us siblings. Doesn't make a lot of sense to drop that money right now while I have 3 young children and a demanding career. Most wealth is stealth wealth. [–]fire_away1730s M | Janitor | Western US | Leanfire TBD | STEM degree 33 points34 points35 points 2 years ago* (3 children). AT 49 people were that incredulous? Stealth, It’s Not Just For Wealth Anymore. [–]situated4 8 points9 points10 points 2 years ago (3 children), [–]change_for_a_nickel31, FI: 5.26%, RE: Probably die first =[ 31 points32 points33 points 2 years ago (2 children), [–]EDTA2009 4 points5 points6 points 2 years ago (0 children), [–]FITeacher 17 points18 points19 points 2 years ago (2 children). They're gone for a long time and come back with paperwork for $150 above the MSRP price discussed. He maxed his 401k about 3/4 of the way into the year. (I did look at used options, but it seemed like most of them had major issues and had been improperly maintained, and I wanted to be sure it would last, anyhow... feel like I kinda have to justify buying new on here.). ][No RE plan], Apparently I need to be a mod to be taken seriously, Stealth wealth does not do much when you are sickly. I tell them I didn't ask for that, didn't want it, was planning to assemble it myself, and just stick one that's still in a box in the back of my truck. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. π Rendered by PID 6033 on r2-app-0860d0c3fbb9c923e at 2020-12-31 21:10:07.654735+00:00 running c709bd6 country code: NL. The whole family was surprised even though she was an exec for a long time. This post may contain affiliate links. It is more prevalent in Europe from my observation that people who are QUIET about their wealth, tend to show it in subtle ways such as: 1. Net worth? I've always admired how Warren Buffett kept the same ranch house he bought for $31K in 1958. Most interest will be deferred while their in school. [–] 0 points1 point2 points 2 years ago (0 children). My cousin did all the remodeling on their house himself. Even I have this desire to remain under the radar, to the point that I’ve discussed the ever-growing desire to disappear, shut down the sites, and stop blogging. I wouldn't say there are no stories. I just turned 30, work at an NYC-based HF, but my income is only mid-6 figures. Before proceeding further, please read the Rules & FAQ! Discreet wealth pays dividends. However, feeling comfortable as a wealthy person on the other hand, has never been tougher. I never bothered to reply. So now I'm coming out and telling them I'm retired. As you make more money, you should experience lifestyle inflation. I work with clients that are all multi millionaires in NY, when I started out of college I was surprised that if you saw them on the street you would just never know. Our mom's old. So I called up the nearest dealer, which was like half an hour away, and asked them how much they sold the model I wanted for. Then when they graduate, suprise them by paying off the loans. Turns out, he went to the more accommodating salesman and bought it all cash. A few months back, I bought a riding mower new from a dealer. 2.2m. Janitors work hard. The lifestyle they lived appeared a little extravagant and the people they associated with all spend a ton of money, but I never thought they actually did. Even though we could’ve lived large, we chose to rent a modest apartment near work and we had just one vehicle (very reliable luxury foreign car, but nothing too flashy) as a couple, which we bought new, but have kept for 10 years. A frenemy posted a reply asking if I had paid off my house yet. Join. I started out in technology (I had no idea about Wall Street or any mentors to show me the way). Working to increase your income and income streams with projects, side-gigs, and additional effort, Striving to save a large percentage (usually more than 50%) of your income to accelerate achieving FI, Investing to make your money work for you, and learning to manage/optimize those investments for the unique nature of FI/RE, Gaining wealth for the purpose of excessive consumption, Taking the slow road, or the traditional road to retirement. My favorite stealth wealth story is a good friend of mine. It's nobody's business how much wealth I have and I am generally happier living a comfortable but modest lifestyle anyway. While there are people that I trust more than others when it comes to finances, it does plant a seed that has the possibility to bloom into jealousy, envy, sadness, or some other negative emotion that does no one any favors. A lucky few will make it to the 7-figure zone. Damn dude...given the hourly pay and VHCOL, this is very impressive. When you have more passive income coming in than you spend, it makes it a lot easier to walk away from a lucrative job. When I FIRE'ed earlier this year, I told people I would just take a "hiatus" or "sabbatical" before returning to work. Unless you reveal bank account and brokerage statements (which would make you a socially awkward weirdo, honestly, who does that), they can only guess.

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