Bogleheads having some pretty big problems, like what to do with the million dollar gift from their parents
https://www.bogleheads.org/forum/viewtopic.php?f=1&t=422547&newpost=7676512
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Neither “hookers and blow” nor “rub it on my titties” were mentioned on the first page. What kind of weird stuff are you folks into?
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I’m worth $6 million and make $350k
IM PANICKING
https://www.bogleheads.org/forum/viewtopic.php?f=2&t=423362&newpost=7693451
Obvious troll post even by BH standards.
Meh, I’m gonna give this guy a pass. Of course, I’m pretty soft on these boglehead posts, so feel free to flame on.
Maybe ‘panic’ isn’t the exact right word given their wealth, but everyone fears job loss. Are they overreacting? Probably. But I don’t expect anyone to be in a perfect frame of mind after an unexpected layoff. I’ve known plenty of people to whom it has happened, and they all freak the fuck out.
I mean, sure they have more money than 99.xxx% of human beings on planet Earth will ever see, but like, THEY SPEND A LOT TOO. Spare some condolences for what I can only assume are their spoiled, entitled children who might need to take out a student loan (which the parents would surely have a meltdown if anyone else’s got forgiven) or god forbid go to a state school. 
I think there is some middle ground between not feeling sorry for them (which I don’t) and making fun of a rich person for being worried about unexpected job loss.
Don’t overthink it; if someone is panicking about potential financial ruin bringing home 300k/year with a $6,000,000 net worth, naah just go ahead and laugh at them.
Can we make fun of middle class Americans who worry about not being able to own a home or being wiped out by medical debt. Despite those concerns, they are in a far better place than the median African or South American.
If this is our standard:
Our middle class American isn’t that far off. They probably wouldn’t trade their lot in life for 90% of the people in the world. If not, where between 90 and 99.xxx% do we draw the line.
Go nuts if you want to try to find the line, but it’s certainly FAR SOUTH from the 6 million dollar man.
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Of course, Donaldson isn’t exactly scraping by. The creator has a personal chef and a trainer, according to Time, and he lives in a 3,000 square-foot-home that he purchased for $320,000 in 2018, according to the New York Post.
Reminiscent of Patrick Ewing “We make a lot but we spend a lot too.”
Food $200
Data $150
Rent $800
Survival Challenges: $3,500,000
Utility $150
someone who is good at the economy please help me budget this. my family is dying
I mean I know the guy supposedly lives a modest life but this is also what he gets to do for fun
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My new favorite game is to see the topic, begin reading the post, and guess what “the number” is.
https://www.bogleheads.org/forum/viewtopic.php?p=7733125#p7733125
I definitely undershot it on this one. Expenses are $200K/year. They have over $8 million.
These people are legitimately mentally ill. The $8 million doesn’t even include home equity.
And the $8M is closer to $9M…unless somehow the $700K emergency fund doesn’t count because reasons.
This may be technically true on some level because they are clearly experiencing an anxiety that is bad for them, I probably wouldn’t frame it as a mental illness. In my view this actually speaks to a broader mistep that people make in life, where they drastically underestimate how much their behaviors and outcomes arise from habits and repitition. If you’re a person that makes a good professional income and you spend 25 years obsessing about saving money and investing money, you have a pretty good chance of being a 55-60 year old millionaire that obsesses about saving money and investing money. Years and decades of reinforcing one way of thinking and acting will make you a person that thinks and acts one way.
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No doubt there is a huge psychology-of-money angle to this, and I don’t doubt that for nearly everyone the switch from accumulation to de-accumulation is a significant mental shift. But at some point, if you’re a Boglehead who is well-informed on these matters, and you’re 55 and have 45x your expenses saved up (before home equity, and before social security), you know the answer. So I think the posts are somewhat for reassurance and to get congratulations from the group.
If someone hands me $9M today, I definitely am not going to need a message board to tell me I never have to work again if I don’t want to.
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