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Kind of a flat year for me. Some investments up a decent amount, especially ones I started after September. And others of course down. I'm a good saver so that's always a plus.
I can't agree with this. The utility is in the dollars. The 100 guy didn't perform better than the 1mm guy, percentage wise yes but in utility not even close.
but from the perspective of what this thread is about, the % is more important. $10,000 means nothing to a guy worth $10 million. the dollar number is meaningless. that $10 million guy still wants to earn his 10% or whatever ($1 million). if he goes up .01%, he wont be happy even if he is a billionaire and its $1 million+.
You're making a common mistake, thinking financial progress is linear. It is not, it's exponential.
It's a lot easier to pick $1 off the street when you're worth $10 than it is to make $100k when you're worth $1MM.
absolutely not. that millionaire still wants his 10%. of course, if he is working he is going to have more savings on top of his investment performance but he wont be happy with 1% even if its $10k and a fortune to someone else. he is going to want to earn more from his investments and his work and he will measure success in %.
absolutely not. that millionaire still wants his 10%. of course, if he is working he is going to have more savings on top of his investment performance but he wont be happy with 1% even if its $10k and a fortune to someone else. he is going to want to earn more from his investments and his work and he will measure success in %.
Care to share your metrics on what percentage growth makes someone "successful" or not? This chart should apply to everyone, whether they have $100 to their name or $1 billion.
So far I see you have the following:
.01% - not successful
1% - not successful
10% - successful
Where's the cutoff between 1% and 10% that determines success?
but from the perspective of what this thread is about, the % is more important. $10,000 means nothing to a guy worth $10 million. the dollar number is meaningless. that $10 million guy still wants to earn his 10% or whatever ($1 million). if he goes up .01%, he wont be happy even if he is a billionaire and its $1 million+.
I wasn't aware of and ranking against others here because there hasn't been. You can't declare who is going to be happy with a certain net worth increase or decrease.
I wasn't aware of and ranking against others here because there hasn't been. You can't declare who is going to be happy with a certain net worth increase or decrease.
This is why I asked for CaptainNJ's metrics.
"Were your gains above X%? Successful! Below X%? Not successful." This should apply to the hundredaire and billionaire equally, according to that logic.
What is X, CaptainNJ?
I think there are a lot more factors going into how people react. For myself, I look at my risk profile, I look at how I have done relative to the market, I look at how I have done over the past 5 years, I take into account inflation and cost of living and I think about what I need to maintain my lifestyle. And if, directionally, it is all going in the right direction then I am happy. I don't have an expectation of linear growth; I have been around long enough to know that won't happen and I am not measuring myself against friends, colleagues or posters on C-D.
I'm almost exactly where I was last year. Same amount of debt, same assets. Except my state pension and local govt 401K...those got paid into. Not much, but to me it's something because I can't touch it now and in theory it will grow. Another year in a holding pattern for me.....
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