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Billions

April 14th, 2019 at 04:49 am

Sorry for the absence from the blog...life happens and nothing seemed pertinent to blog about.

I recently discovered the show Billions on Showtime. Through my cable subscription, I can marathon watch old episodes. So far, I've completed season 1 and am half way through with season 2.

While watching, I am amazed at the display of wealth in homes, cars, clothing, food, etc. Yes, I understand that this is a tv show but it must represent how the "other half live." How do people live like that?! They must be born into living those high standards.

I am, by no means, poor. I make a good salary (probably better than most of my friends) and my husband works a part time job too. We generally live below our means as I'm able to save over $1200 per month to retirement, aggressively repay the mortgage, give to charity and still save a little to our growing liquidity (emergency fund, fun fund, overspending fund, etc.) All this is to allow me to retire young enough that I can enjoy life, be available for kids’ activities, etc.

My money guy tells me that I have more than enough money saved. Through a Monte Carlo analysis, the downside analysis shows that I will have over $1 million at age 92. That's a good predictor but how true is it? The analysis is based on current spending plus escalating increase in expenses (when I retire, I carry health insurance at a reasonable rate until death). But I still wonder if I will have enough.

I've written before that I would love to have a LV Carry All bag but I can't get myself to buy it. I would love to have a Tesla but I can't get myself to buy it. I would love to have a diamond and sapphire ring but I can't get myself to buy it. What happens if I become a spendthrift? What happens if I start being comfortable with large dollar purchases? Is it true that it is highly unlikely that my frugal personality won't change?

Is anyone familiar with the Monte Carlo analysis? Should I have comfort in it? Do you think a person's personality/standard of living is generally set and doesn't really change?

Thoughts please!