I always found suspect the “hip” financial advisers who say your goal should be to spend down to 0 by the time you die. I mean, great goal because you can’t take it with you and I’d much rather have fun with it before I croak.
But one does have to wonder when these pecuniary sages are going to tell us how they accurately predict when they are going to die so that we can follow their advice. 
We have a financial advisor, it was so hard to find one that fit our needs, so many do not even listen. 2% we pay, worth it so far. Bought 2 cars, off lease our car and replacement for trailblazer, we are hoping 10 years until we do this again.
I guess it depends on what URL you use.
This one says only 3%.
This one also says 12 million which is about 3%.
As I said though. Just because you’re a millionaire doesn’t mean you can afford a Bentley.
Financial advisor is all about trust. We’ve known ours for decades. Great guy. Extremely knowledgeable. Highly educated. BS from Yale and MS from BU. He’s associated with a larger money management firm.
My link talked about households. So here’s a question - if a family of 4 has two million in assets, is anyone a millionaire?
Who knows. It comes down to semantics. I accept the URL you posted. Probably just the way you look at it. I know that if my wife of almost 40 years and I got divorced…only ONE of us would be millionaires after the settlement. And it WON’T be ME.
Or you may not need 2 million depending on where you live and whether you own your house and cars. Lack of debt is a big lever.
So is not having to commute, buy lunches and a lot of other expenses related to working. If you haven’t made that pleasant discovery yet Mike, you will.
Maybe he/she is living alone they does not need a bigger or more expensive house, but loves cars
I’ve plugged the maximum allowable into my 401K/403B accounts for all of my working years. Until recently, it was all in stock funds. I weathered two big market downturns and still made enough to have a comfortable retirement. Now that I’m near retirement, I’ve diversified. If I can do it, you can too, although your appetite for market risk might not be the same as mine.
It could have cost as little as $40,000 so it’s possible but still would stand out in that neighborhood. It would in mine as well.
Five years ago a salesperson at work bought a traded-in 2008 Bentley Continental GT for $75,000, I doubt that he is a millionaire.
I see Bentleys on the road each week, sometimes I try to identify the driver, could be a celebrity but they also sell these cars to common people.
There are plenty used Bentleys for sale in the Southwest for $50,000 to $120,000.
$100,000 will buy a nice low mileage used car.
I’m 51, figure I have 25 working years left, assuming that we live longer than our parents. Right now I live 6 miles from work and pack a lunch at least 3 days a week. I anticipate a busy retirement will have me driving more than 12 miles a day and eating lunch out several times per week. I also anticipate having more than 2 cars when I’m retired. Sounds like I better start planning!
I retired, and sure we do stuff, but I have so many wasted hours of tv and internet, when I should be doing something constructive. In serious competition with the wife. Even hiring a cleaning lady, she starts next thursday. Song she’s lazier than me!
I don’t know that I’d consider a Study worse than a Bentley! 
I don’t think this is true. I think people do realize what it will cost to comfortably retire, but they simply don’t have the money to set aside for retirement–they need their wages to pay for living expenses today.
He may be worth a lot more than you think. Or he may be in debt up to his eyeballs. In any case, people don’t buy these type of cars as an appliance–they buy them as a fashion statement to impress others.
I have never understood the point of conspicuous consumption, but there are apparently enough people who think it’s a good idea that cars like this Bentley exist. If everyone shared my attitude, millions of people who work in industries based upon showing off/flaunting one’s success and unnecessary luxury goods would be out of a job.
There’s a difference between conspicuous consumption and appreciation. Yes, there are people that buy these things as status symbols, but there are also people that really appreciate fine things.
My wife can get to work and baseball practice just fine in something like a 92 Dodge, but the 18 Cadillac is so much more comfortable and handles better. It gives her pleasure to drive it. I could have a can of chili and an apple for dinner, but the braised lamb shanks and grilled asparagus taste so good.
Could I live without a collection of jazz records and some framed art on the wall? I could exist, but I don’t know that I’d call it living.
I agree. I like nice things too. I don’t go overboard. I suppose technically my wife and I could afford to buy one of those used Bentleys we’ve been talking about, but it would put a big hole in the budget, and then keeping it running would put another big hole in there. The used Lexus I bought is plenty good enough for me.
I never want to be a slave to my possessions, particularly a vehicle. Back in the early 1970s, our neighbor in the duplex where we lived was a salesman for an imported car agency. He was in the National Guard and had to go to training camp once a month on a weekend. He would bring home an MG Midget that was his demonstrator and bring me the keys. He said the MG needed to be exercised on the weekend while he had National Guard duties. It was a hard job, but I faithfully exercised the MG Midget.
I really wanted one, but I realized that it wasn’t practical and that an MG required more maintenance than the 1965 Rambler I was driving at the time. At that time, we were planning to build a house and the house was more important to me than owning an MG.
When I was teaching at a university, I had colleagues who owned expensive cars. There was no dealer in town for these cars. The nearest dealer was 55 miles away for these cars. Even though I have been retired for 10 years, I have better things to do than to spend time having a fussy car maintained. I’ll stick with my boring Toyota Sienna.
On the other hand, I played the same horn for about 40 years which many considered a student model. I played a lot of exposed solo passages on that horn. I recently splurged on an expensive (for me) professional grade horn. I may not be able to play ten years from now, but I do like playing the instrument. I do have to purchase more expensive Hetman synthetic valve oil for this horn. I can’t be critical of a person who enjoys driving an expensive car that requires expensive maintenance when I buy the expensive valve oil for $15 rather than the $5 a bottle valve oil for my previous horn. I am spending an extra $20 a year to keep up.my new horn.
Just because someone wants something does not make that conspicuous consumption . I had a Corvette Convertible C 4 because we wanted one and did not care what anyone thought about it . Bcohen , after your last cancelled purchase I really think that there is a person in your house that would really enjoy a nice vehicle with some of those features you don’t want.