Mega dollar systems. 200k on up. What are their professions?

You dont have to have a great paying job. Im living proof.  You most LIKELY have to be a good disciplined investor in the stock market. I retired at 44/45. Think I made 800K in a 20+ year career in I/T as a computer operator.  Always maxed out my 401K and Roth IRA's. Stock market is up about 450-500% since March 2009. Not hard to become a Millionaire/Multi-Millionaire in that scenario and be able to buy 200K worth of gear or anything else your little heart desires.  Try to teach my nieces/nephews but of course THEY KNOW BETTER!! LOL

I don’t judge or begrudge anyone a single bit for a 500k system (or even a 340k turntable) if for every dollar he gives X dollars to a needy person for a leg up.

What I have a problem with are people who were fortunate enough to have made it to spend on “frivolous” habits like ours and claim that no one needs help—“if I did it by pulling up my bootstraps then anyone can do it.” As if they owe nothing to society, without which they would never have made it in the first place.

Anyway my two cents. Please no debate. It’s meant in the best of ways.

Regarding compound interest. I told my kids (who are in their early 20s now) that the inheritance they’ll get is the 20k I put into each of their IRAs when they were 14. Using rule of 72, a moderately conservative 7% after inflation and say 50 years to retirement, that’s $640k each in 2014 dollars. Not bad.

So you’re telling us all how great you are for giving each of your kids half a mill. And telling us all what to do with our money. Gee thanks, I was waiting for someone with impeccable morals to lecture me on that. But what are you doing for the needy person who needs a leg up? It’s all sanctimonious virtue-signaling, as far as I can see.

You could be surprised how people getting to buying expensive stuff. It often happens with easy money.  My daughters friend’s family is good example. The girl’s grandma at her seventies married nationwide company owner at his eighties. The guy died after five years of successful marriage, left grandma a couple of hundreds of millions. After seven years grandma died and guess who got the money. Dumb salesman and his never worked wife ended with free millions. New, huge house right away, Maserati and yacht later... they just don’t have imagination for text purchase.... should I give them a tip ?

@ssmaudio "- I told my kids (who are in their early 20s now) that the inheritance they’ll get is the 20k I put into each of their IRAs when they were 14. "

Curious how you did this? IRAs require a person to have taxable compensation to contribute , and IRA contribution limits have never been anywhere near $20K per person per year; the limit for 2021 is $6,000