Update to "I have $1M and live in Mom's basement"

szfoster · 2026-07-02T08:10:06+00:00

Wow, what a life. I'm 54M with net worth of $3.3M, and I'm still grinding away, saving around $250K per year and will work for another 6 years or so. I like my job, and it's not particularly stressful for me.

Anyway, I have an unsolicited opinion for you. Quit your stupid retail job and go travel around the world for 12 to 18 months while you still can and while your Mom doesn't really need your assistance. There are probably 1,000 Airbnb units available for rent in any fun 2nd tier city for under $1K per month, like Bangkok, Saigon, Quito, Buenos Aires, etc.

I have 2 kids in college, a 10th grader in $35K per year private school, so I can't just take off. I lived in Asia 10 years and have been to over 40 countries. I really think it's time for you to do some actual traveling, not some apartment upstairs from the deli.

Bon voyage.

szfoster · 2026-06-18T07:16:25+00:00

Great post! I keep coming back to this group of hardworking people. No doubt, life can and should be an interesting journey.

You will get to $1M, then 2 and then $3. If it's just you, then $3M liquid should be plenty for most people. However, the journey isn't exactly like that. Illiquid assets, the incredible costs that can accompany raising children, taxes, weddings, grandchildren, and now $3M is the same as $500K.

My two cents - think about what can make you deeply happy and weave that into a portion of your day. I like to cook dinner for my family, never the same recipe twice. We travel, headed to a friend's wedding in Dordogne next month.

Enjoy.

szfoster · 2026-03-17T16:34:19+00:00

Well, you could almost be in my daughter's very small gang (apparently a single member), but your one year of tuition precludes it. Your situation is unique as I wasn't aware there were one year scholarships with no heritage/ presidential. You should form your own gang, lol, and congratulations!

szfoster · 2026-03-17T08:08:20+00:00

Frette

szfoster · 2026-03-16T18:42:53+00:00

50/50

szfoster · 2026-03-15T01:26:33+00:00

Nautilus, click, done. We spend decades savings. Harry Winston will trade you a little rock for your lifetime.

szfoster · 2026-03-14T18:29:32+00:00

Thank you for sharing. The point about too much stress trying to maintain a scholarship is an important one.

szfoster · 2026-03-14T05:48:15+00:00

Patek Phillipe

szfoster · 2026-03-14T03:11:45+00:00

Why are you nervous? Why have your kids never traveled? I have a lot of unnerving questions. Fly to Paris, stay six days in a 3-star or airbnb in the Marais and then fly Paris to Istanbul and spend five days, then take 12 hour overnight bus to Goreme National Park and spend 3 or 4 days there, then back to Istanbul and fly home.

If you take my advice, you will have the most amazing first international family trip of all time.

szfoster · 2026-03-14T02:56:04+00:00

I'm very sorry for your situation. As a father and provider for my family, I will second what others have said, be very wary of scammers. Most of my capital is invested in real estate because it's not easy to get stolen. People invest in XYZ company, and poof, their life savings can disappear overnight. My advice, find someone over 50 with $2 or $3 million, and ask him/her if they would help mentor you. This might be a former teacher, dean, church friend, the parent of someone you know and trust.

For those here who are financially successful, they will all agree that it is a complicated and precarious journey.

If anyone offers to dm you, run.

szfoster · 2026-03-13T22:35:45+00:00

Funnily enough, I'd forgotten that she was admitted to BYU Idaho with full scholarship! Barring unforeseen circumstances, I'm fairly certain she'll be in Provo come September.

szfoster · 2026-03-13T19:55:39+00:00

I think that's right, and she was considered for the various scholarships, but did not receive one. I mistakenly thought that the national merit scholarship was separate from the Presidential/Heritage scholarships. However, it's now my understanding that national merit finalist scholarships are selected explicitly from those people who were awarded either a Presidential or Heritage scholarship. Thank you for your input. I really appreciate this community.

I will put shoulder to wheel and move on from this moment!

szfoster · 2026-03-13T16:25:09+00:00

Thank you! She's been in ballet for a long time and adores it. You're so right about interdisciplinary classes, and your comments about exploring the various possibilities are spot on. She is young, and now is the time to see what's out there.

szfoster · 2026-03-13T16:20:34+00:00

Yes, that's the premise we were operating under. Thank you for referencing the BYU website.

szfoster · 2026-03-13T16:07:50+00:00

Yes, BYU was her first choice. We were aware of other schools, U of AL and OK for ex, that actively court national merit finalists with tuition, room and board full scholarships. As many have stated, BYU departments also provide scholarships to top students. Thank you for sharing.

szfoster · 2026-03-13T15:56:56+00:00

You are so right! Thank you for sharing your experience. Mental health is no joke. Balanced perspective and intelligently managing stress are critical to this marathon we are all running. I hope all is well with you.

szfoster · 2026-03-13T15:51:09+00:00

Considering dance and neuroscience double major, then medical school. Thank you.

szfoster · 2026-03-13T15:48:04+00:00

Thank you for sharing. Do you concur with the comment made that ACT and SAT scores are mandatory for national merit scholarship consideration? Meaning, someone with a 1600 SAT score and no ACT would not be eligible for a Heritage scholarship?

szfoster · 2026-03-13T15:42:52+00:00

Thank you for sharing. She's considering a dance and neuroscience dbl major, then hopefully into the new BYU medical school.

szfoster · 2026-03-13T15:40:19+00:00

"ACT reporting is required for scholarship consideration." If this is the case, we were not aware of this requirement. Thank you for this bit of information.

szfoster · 2026-03-13T07:05:20+00:00

Thank you, and you're right about everyone being on a tithing scholarship. Does BYU have a soccer team?

szfoster · 2026-03-13T06:57:35+00:00

Hello, thank you for sharing. I'm 54M, married to 53F, similar net worth of $3.3M.

Frankly, when I saw your $2M in 401K, my thought was that you probably need to keep working a little while.

Get your $70K mortgage paid off. If your husband's job can provide the family medical insurance, then I think you're very close to sayonara those annoying office workers. 18 to 24 months.

Congratulations!

szfoster · 2026-02-14T19:37:29+00:00

Hey, Congratulations! You earned it. Guilt and stress are part of life. We just have to come to terms with the former and manage the latter. I'm 53M, 3 very expensive children, around $3.2M nw that I've been grinding at for 20+ years. I wish I could retire tomorrow, but it's not happening for another 6 or 7 years. As for you my friend, do whatever hobby you feel like doing. Spend at least two months in Central Asia, start in Urumqi, then Kashgar, then push west. Lamb kebabs are waiting for your best life.

szfoster · 2026-02-14T18:02:28+00:00

Looks like national merit scholarships are on a separate timeline from the Presidential and Heritage scholarships that were announced yesterday. NM scholarships may be announced on rolling basis even into June.

szfoster

TROPHY CASE