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Ah, the allure of tons of money… who hasn’t had the dream of being rich?!
The things you could afford, the places you could go, the luxurious good times you could have. It’s fun to imagine all the cool things you could do with boatloads of money.
Wait a minute, Jim – aren’t you already rich? You retired a couple of years ago at 43 for Pete’s sake!
We’re definitely in a position that I’m more than elated for – we’re financially independent. That’s a blessing more than we could ever ask for in life.
But we’re far from rich. I talked about this in my post, Being a FIRE Millionaire Doesn’t Mean You’re Rich. Essentially, through the 4% rule, we have a “fixed income” of roughly $50,000/year we can spend while still sustaining our portfolio for the long haul. This, of course, assumes neither one of us ever works again, but it’s still an important number to understand.
There’s no doubt that $50k/year is a nice chunk of money that, so far, works nicely to cover our annual expenses. We have breathing room in there to live our normal family life including taking vacations… but being rich is not something we are. “Set” might be a better way to put it.
Remember though that we’re living a semi-frugal lifestyle. We still need to think through all our spending and when we do make choices, you can bet that money is almost always a factor in our decisions.
The fun part though is the idea of taking money completely out of the equation – no worries about cost whatsoever. Imagine what we could do if we were really rich.
I’ll tell you what I would do and then you tell me what you would do if money was no object.
Being rich involves owning a boat, right?
Haha, not in this guy’s dreams – that’s for sure!
There’s no vacation I love more than traveling on a cruise ship in the Caribbean somewhere. Being out on the ocean with no land in sight is simply amazing. Watching and hearing the soothing sound of waves crashing as the ship travels is awesome. Then there are the sunsets on the ocean, seeing a sky filled with stars at night, and spotting cool things like dolphins or rainbows over the water.
Heck, that doesn’t even count playing dress-up for formal nights, enjoying delicious food (particularly the dinners), and all the fun stage shows. It’s nice to check out the different ports of call as well, but I’d be content just staying on the ship the whole time.
Yeah, I absolutely love cruises!
But owning a boat? Or even a monster-sized yacht? Not this guy – too much of a headache.
Yeah, yeah, I know – stop thinking small and remember that we’re dreaming of being rich… filthy rich. I could hire someone to maintain it, clean it, store and transport it, stock it with food and drink, and all the other chores that would come with owning it. I could probably even hire entertainment to have onboard for the trips.
Here’s the deal though… I don’t like owning a lot of stuff. Stuff takes away from freedom. And I love freedom.
I wasn’t expecting this feeling until we sold almost everything we owned in 2019 and moved to Panama. We took two suitcases each on our move and now rent a fully furnished place in Boquete. When we’re done there, we’ll just pack up the suitcases (for the most part) and move again. It’s unbelievably liberating.
So instead of owning a boat or even a cruise ship, I’d prefer to just rent one whenever I wanted. Now, don’t worry – being rich enough to afford anything, I’d make sure that we got the best.
On some occasions, that might include living on a cruise ship like “The World.” This ship travels the world and the itinerary is determined by both the residents and captain every year. How cool is that?!
The massive full-size cruise ship has only 165 residences on it. In other words, there are still others on board to socialize with but not so many that you’re packed in like sardines. That sounds perfect to me!
Of course, we’d stay in one of the monster 3-bedroom, 3-bathroom apartments with the gourmet kitchen. Check out the photos here. In case you’re curious (even though money’s no object), it’s a heckuva lot of money to live there. According to the Boston Globe…
That ticket, by the way, for one of its 165 luxurious shipboard condos can cost from $825,000 to $7.3 million.
First, though, you’ll have to prove your net worth exceeds $5 million. Then add another 10 to 15 percent of the purchase price for annual maintenance and other fees based on your apartment size.–The Boston Globe: The World: A floating home for the well-heeled
And those prices are from 2015! I would imagine it’s gone up a little since then… Jeeves, pay the man, please.
My buddy John from ESI Money wrote about living on a cruise ship in his post Is Retiring on a Cruise Ship an Affordable Option? Granted, he was talking about a more reasonable regular cruise ship, but it sounds wonderful regardless.
That’s always been a dream of mine. Maybe we’d get bored of it after a while, but I’d love to try it for at least 6 months or a year. Exploring the world in luxury sounds like a pretty good plan to me!
Other times, maybe I’d just rent a yacht with a crew to handle everything. It’s weird, but I think I’d still prefer the cruise ship over the yacht. I feel like you meet so many interesting people from all over when you’re on cruise ships. But having the ability to limit that the number of folks around you with a ship like “The World” makes it something that seems a little more up my alley.
Fulfill my dream of starting something worthwhile
I’ve had this draw for years now that there’s something more I need to be doing in the world. I haven’t figured out what it is yet but I’m wondering if it’s working to fight homelessness and hunger as those are two areas that bother me tremendously.
Between focusing on raising my daughter, living in a foreign country, and a small little pandemic that crept up last year, my calling hasn’t been at the top of my list right now. I’m hoping that once we’re back in the U.S. and my daughter’s a little older that I’ll be able to explore this more.
But would being rich make more of a difference?
I think so. Unfortunately, I wasn’t smart enough to plan our early retirement with a philanthropy/charity budget… oops. So even when I’m ready to do something more and something big, I’m likely going to need to do some fund-raising to make it a reality… but not if I’m filthy rich!
At that point, I could skip the step of trying to raise the money needed and just focus on the actual doing. That’s a big deal.
I could start a foundation, bring on employees/volunteers, and get to work. I still don’t know what the work would be yet, but it seems like it would flow much better if money were no object.
Personally, I don’t need much in life. Heck, if we could just spend tons of time on cruise ships and do as much traveling as we wanted, I couldn’t ask for much more. Speaking of travel, I think there’d be some private jets involved in getting from point A to B. No need to take advantage of travel rewards and no security checkpoints to worry about.
Not only that, but I could rent out places for friends and family nearby and fly everyone out to wherever we’re staying. That could be a lot of fun! Imagine how nice it would be for everyone involved to just hop in the limo to take them to the private jet and onto whatever location we’re ready to party in. No one would have to worry about food or drink or anything… you just show up and have fun!
I’m starting to like this idea of being rich! Even simply for travel, it’s got some huge advantages that we wouldn’t be able to take advantage of otherwise.
It’s hard to digest everything you could do if you had an unlimited amount of funds. Being rich – like really rich – would certainly give you the power to change the world if you wanted.
Look at Elon Musk. The guy never had to work again in his life after selling PayPal, but instead, he’s done things like start Tesla, an amazing electric car company, and SpaceX, with the intent of reducing space transportation costs.
That’s someone who’s not letting life pass him by. He’s got the money and he’s using it to change the world. Check out the bestseller book, Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future, to get a fascinating look into his amazing life.
Maybe after some deep thought, I could find another cause that makes sense to help push forward. I’m intrigued by the idea of meat replacements like using plants and insects… perhaps that might be something to push my billions of dollars toward?
What about the rest of the family? Would being rich change anything?
Lisa told me that if money was no object, she’d want to buy a ranch-style home on a lake in Tennessee. Then she’d want us to be snowbirds and travel the world in the winter. Hell, we could do that now if we want!
Faith said that she would buy her own zoo, give a lot to charity, and save a lot of it. After thinking about it for a minute, she then added that she’d donate most of it. She also said she wants to make sure that animals and people don’t go hungry. How can you not love this kid?!
But, wait a minute – this is about my dreams about being rich. They need to start their own blogs if they want to try to share their dreams! 😉
I’m realizing that I’m not reaching high enough. Having tremendous amounts of money can give you the opportunity to change the world. I’m just not a person who needs a lot in life to be happy. I feel like I’d lead a simple life and live in a non-extravagant house. Even multi-billionaire Warren Buffet’s house much be a little much for me!
So I’d need to figure out the right causes to support and other ways to make the world a better place.
But I know you’re probably more ambitious than me… if you had more money than you could ever run out of, what would your life look like?
Plan well, take action, and live your best life!
Thanks for reading!!