[frmersdog]

People who don't take $1M net worth and use it to secure their simple needs somewhere that they can live cheaply (providing attention rather than financial capital to their dependents) are ironically the reason why $1M net worth isn't anywhere near financial independence. Such people provide an outsize contribution to the bidding-up of costs, because instead of thinking, "This is probably it, I better be careful," they're pushing for the next rung on the ladder and willing to "invest" at high prices, with the expectation of a return.