Just became a millionaire

Cus

I remember when I realised I was a millionaire excluding property, I was quietly pleased.  Then I realised that a large amount of it was due to luck, like upbringing, who you know, right place right time, and that for some people, just ensuring their family is looked after is a bigger achievement.
More importantly I realised that I was not any happier.  

RippleM

Became a millionaire excluding property in March 2016.since then through returns on the bull run and a very good salary it’s now 2.15 million plus property in Scotland so I guess around 2.4.I count my blessings daily and still can’t believe how lucky I have been throughout my career although hard work obviously played it’s part.I think we would like 50k per year to do what we want.Problem is I love my job so resigning is a tough one however determined to do it early next year for a Summer departure.

jim8888

Having a million in pensions gives fantastic security and choice. For me, that's by far the best thing about it. In my experience of retirement so far, the best things about it are still pretty much free or inexpensive. A walk by the coast with my DOH, a bike ride in the countryside, a coffee and scone in a cosy cafe, a pint or two with friends in the local pub. I think that most of us know that having your health and relationships in a good place is more important than money. But I am conscious that having a sound financial background gives you more space to appreciate the other things in life that you enjoy.

Albermarle

jim8888 said:

Having a million in pensions gives fantastic security and choice. For me, that's by far the best thing about it. In my experience of retirement so far, the best things about it are still pretty much free or inexpensive. A walk by the coast with my DOH, a bike ride in the countryside, a coffee and scone in a cosy cafe, a pint or two with friends in the local pub. I think that most of us know that having your health and relationships in a good place is more important than money. But I am conscious that having a sound financial background gives you more space to appreciate the other things in life that you enjoy.

Or to put it another way , you can enjoy life without worrying about money . No panic if the boiler breaks, or the car needs expensive repairs, which is the situation for a lot of people.  Just knowing that it is there is comforting/relaxing even if you don't splash it around .

Probably if you were the type to splash it around , then you would not have a Million Pound pension in the first place !

ex-pat_scot

Albermarle said:

jim8888 said:

Having a million in pensions gives fantastic security and choice. For me, that's by far the best thing about it. In my experience of retirement so far, the best things about it are still pretty much free or inexpensive. A walk by the coast with my DOH, a bike ride in the countryside, a coffee and scone in a cosy cafe, a pint or two with friends in the local pub. I think that most of us know that having your health and relationships in a good place is more important than money. But I am conscious that having a sound financial background gives you more space to appreciate the other things in life that you enjoy.

Or to put it another way , you can enjoy life without worrying about money . No panic if the boiler breaks, or the car needs expensive repairs, which is the situation for a lot of people.  Just knowing that it is there is comforting/relaxing even if you don't splash it around .

Probably if you were the type to splash it around , then you would not have a Million Pound pension in the first place !

Exactly:
- money gives you the peace of mind that your costs / bills / unexpected problems can be covered.
- wealth is what you don't see. It's the fancy car you haven't bought, or the exotic instagrammed holiday you didn't take. That's not to say that you should deny yourself everything, but that your spending has a direct consequence on your wealth

pjcox2005

Mistermeaner said:

Really enjoyed reading all the replies, thanks 

Not that my specifics matter to the overall discussion but as a few people asked : 

Wealth is 'ours' although we're not married - the missus doesn't work and had around 50k in her dc pension when we met plus a few 10k in savings. Bulk of it is savings in my name and my earnings (of course enabled by her looking after the kids and home)

We have no db pension. 750k in dc pensions + Lisa's + isas. House worth about 475k with 200k left on mortgage . Not debts loans or credit cards

Be interested if anyone think any of lifestyle 'advice' is incorrect or if anything is missing ?

P s i also subscribe to n+1 bikes. Gotta have some fun  

I think lifestyle advice doesn't massively work as each individual needs to work out what's crucial to them. In theory, most i agree with but for some work is a passion and they'd prefer that to be a larger part of life.

The TV element, fine to sense check and make a conscious choice but the idea that any other social pursuits like reading, or drawing have any more value than spending time in front of the TV is not necessarily true. It depends on what content they choose and also the impact it has on their happiness to it.

Same with fitness - i would say most should do more and benefit from it, but if that hour exercise comes at a cost of missing family time then maybe that's not that essential even if it means we'd benefit more from it in old age.

Ganga

ex-pat_scot said:

Albermarle said:

jim8888 said:

Having a million in pensions gives fantastic security and choice. For me, that's by far the best thing about it. In my experience of retirement so far, the best things about it are still pretty much free or inexpensive. A walk by the coast with my DOH, a bike ride in the countryside, a coffee and scone in a cosy cafe, a pint or two with friends in the local pub. I think that most of us know that having your health and relationships in a good place is more important than money. But I am conscious that having a sound financial background gives you more space to appreciate the other things in life that you enjoy.

Or to put it another way , you can enjoy life without worrying about money . No panic if the boiler breaks, or the car needs expensive repairs, which is the situation for a lot of people.  Just knowing that it is there is comforting/relaxing even if you don't splash it around .

Probably if you were the type to splash it around , then you would not have a Million Pound pension in the first place !

Exactly:
- money gives you the peace of mind that your costs / bills / unexpected problems can be covered.
- wealth is what you don't see. It's the fancy car you haven't bought, or the exotic instagrammed holiday you didn't take. That's not to say that you should deny yourself everything, but that your spending has a direct consequence on your wealth

Whilst what people spend their money on is their business i can never understand why amassing massive amounts of money and not spending any on the car they want ,holiday they need etc. or are they saving it for a rainy day or hope to take it with them  

bostonerimus

Ganga said:

ex-pat_scot said:

Albermarle said:

jim8888 said:

Having a million in pensions gives fantastic security and choice. For me, that's by far the best thing about it. In my experience of retirement so far, the best things about it are still pretty much free or inexpensive. A walk by the coast with my DOH, a bike ride in the countryside, a coffee and scone in a cosy cafe, a pint or two with friends in the local pub. I think that most of us know that having your health and relationships in a good place is more important than money. But I am conscious that having a sound financial background gives you more space to appreciate the other things in life that you enjoy.

Or to put it another way , you can enjoy life without worrying about money . No panic if the boiler breaks, or the car needs expensive repairs, which is the situation for a lot of people.  Just knowing that it is there is comforting/relaxing even if you don't splash it around .

Probably if you were the type to splash it around , then you would not have a Million Pound pension in the first place !

Exactly:
- money gives you the peace of mind that your costs / bills / unexpected problems can be covered.
- wealth is what you don't see. It's the fancy car you haven't bought, or the exotic instagrammed holiday you didn't take. That's not to say that you should deny yourself everything, but that your spending has a direct consequence on your wealth

Whilst what people spend their money on is their business i can never understand why amassing massive amounts of money and not spending any on the car they want ,holiday they need etc. or are they saving it for a rainy day or hope to take it with them  

The car they want or holiday they need might not reflect the level of their wealth. I take a utilitarian view of transport and drive a Honda Civic (next car will be electric) as it does the job and is inexpensive to run and I don't worry about it getting dents or parking it on the street over night. My holidays usually involve me riding my bike somewhere and staying in motels or camping so that isn't expensive either. There's no need to spend a lot to have what you want or need if your tastes are simple; I'm just not a BMW guy...I'm a Honda Civic type of guy.

Albermarle

Ganga said:

ex-pat_scot said:

Albermarle said:

jim8888 said:

Having a million in pensions gives fantastic security and choice. For me, that's by far the best thing about it. In my experience of retirement so far, the best things about it are still pretty much free or inexpensive. A walk by the coast with my DOH, a bike ride in the countryside, a coffee and scone in a cosy cafe, a pint or two with friends in the local pub. I think that most of us know that having your health and relationships in a good place is more important than money. But I am conscious that having a sound financial background gives you more space to appreciate the other things in life that you enjoy.

Or to put it another way , you can enjoy life without worrying about money . No panic if the boiler breaks, or the car needs expensive repairs, which is the situation for a lot of people.  Just knowing that it is there is comforting/relaxing even if you don't splash it around .

Probably if you were the type to splash it around , then you would not have a Million Pound pension in the first place !

Exactly:
- money gives you the peace of mind that your costs / bills / unexpected problems can be covered.
- wealth is what you don't see. It's the fancy car you haven't bought, or the exotic instagrammed holiday you didn't take. That's not to say that you should deny yourself everything, but that your spending has a direct consequence on your wealth

Whilst what people spend their money on is their business i can never understand why amassing massive amounts of money and not spending any on the car they want ,holiday they need etc. or are they saving it for a rainy day or hope to take it with them  

I recently retired and bought the car I wanted ( not a Ferrari but still not cheap) . The point is that I could buy it without worrying about the cost so much , as I had a saved a lot for a rainy day !

Alexland

Albermarle said:
I recently retired and bought the car I wanted ( not a Ferrari but still not cheap) . The point is that I could buy it without worrying about the cost so much , as I had a saved a lot for a rainy day !

Was it a convertible? Hopefully you should get some long rainy days this winter if that's what you like.