All that said, I am living comfortably but that's because I never ran up a lot of bills and never lived beyond my means. I am content. Sure, who wouldn't want to have $250,000 in savings/retirement. But the way I look at it, I can't take it with me. So if I ever do come into a lot of cash I'll probably give most of it to my kids before I pass. That way they won't have to incur inheritance taxes.
Your children aren’t going to have to pay inheritance tax. My mom died with a little more than 250k. No tax. We take what we can in MN and be grateful. “Sir, can I have another!” Monty Python reference.
I retired at 60 about 15 years ago, never bought any of the “must have” toys, drove my 72 Chevy pickup for about 35 years then bought a used public auction GMC pickup that I still drive.
Own 2 homes (one in So. Cal, one in Nor. Cal) also 2 additional pieces of property, one in Washington state and one in Colorado..
Amazing what you can do with just a normal salary if you don’t party, don’t have to have every “new thing”, don’t eat out every night and don’t try to walk around playing “mister big shot”.
I bought the Washington property for 11k, was just offered 350k for it, bought the Colorado property for 9k and was just offered 275k for it.
Told both companies when they get to 500k we MIGHT talk.
Currently have NO DEBT!
My wife tells me that we now have money coming out our ears after a lifetime of being careful with money, frugal practices, and conservative investment.
When I die nothing goes to my kids (they both got a full ride to college from me), they have to earn their own.
My trust says everything goes to MY WIFE and then to any of my dogs that survive me.
“I am 62, retired, worked for fed gov for 20 years, was only able to advance two GS levels, GS-04 to GS-06, because I wouldn’t kiss butt and told a top level manager he “was a BLANK BLANK poor excuse for a manager.”
When we get older we figure out that most of the “top level managers” are clowns and keep it our little secret.
The truth can get you in a lot of trouble in the work world.