Page 2 of 32 FirstFirst 1 2 3 4 5 6 7 ... LastLast
Results 26 to 50 of 800
  1. #26
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    36,262
    Quote Originally Posted by Sirshredalot View Post
    4% before taxes is pretty conservative,
    Not when T Bills are locked at near zero until at least 13.

    Let's do some livin'
    After, we die

  2. #27
    Join Date
    Nov 2006
    Location
    on the edge
    Posts
    5,803
    2M...see ya later
    If it's green, smoke it...if it's pink, poke it

    BUY THESE------> 193 iM 103 - $50 https://www.tetongravity.com/forums/s...d.php?t=179797

  3. #28
    Join Date
    Dec 2006
    Location
    crown of the continent
    Posts
    13,950
    Quote Originally Posted by Benny Profane View Post
    Not when T Bills are locked at near zero until at least 13.
    Exactly. Figuring 2% may not be conservative in today's climate. Particularly if you are looking to go low-risk with something like retirement funds.

    Still think the number is 54-46.
    Something about the wrinkle in your forehead tells me there's a fit about to get thrown
    And I never hear a single word you say when you tell me not to have my fun
    It's the same old shit that I ain't gonna take off anyone.
    and I never had a shortage of people tryin' to warn me about the dangers I pose to myself.

    Patterson Hood of the DBT's

  4. #29
    Join Date
    Oct 2005
    Location
    Wasatch
    Posts
    5,870
    Quote Originally Posted by Benny Profane View Post
    Not when T Bills are locked at near zero until at least 13.
    Fair enough if your time horizon is short to medium term - but I could have another 60-70 years on the odometer: if I don't, then my wife probably will. With that in mind, I probably wouldn't allocate much to shorter-duration fixed income securities.

  5. #30
    Join Date
    May 2002
    Location
    Beautiful BC
    Posts
    2,762
    If you're looking for a number then you'll be working a long time. You need to take inflation into account. Your income, if based on GICs, will be around 1% over inflation these days which is $10,000 per million. That would mean around 4 million plus a residence at a minimum.

    You really want cash flow and that means a business (or two) of some kind.
    If you have a problem & think that someone else is going to solve it for you then you have two problems.

  6. #31
    Join Date
    Dec 2007
    Location
    Overpriced Orchards
    Posts
    1,823
    5 for me. But what would I do? I'd probably still work, just really cherry-pick my job.
    Quote Originally Posted by Dantheman View Post
    ...I would have dove into that bush like Jon McMurray.

  7. #32
    Join Date
    Dec 2005
    Location
    STL
    Posts
    8,609
    Its not a question of net worth, its a question of income. You have to be able to live off interest, dividends, or rent or its not legit.

    Id say mine is 20k a month before taxes. So thats 240k, and in todays world that is 8 million.

    10 yrs ago that would have been 3-4 million with 7% muni's. Now is a time to buying assets, not income, so check back in another 10 yrs.

    Sad.

  8. #33
    Join Date
    Apr 2005
    Location
    A LSD Steakhouse somewhere in the Wasatch
    Posts
    10,755
    420
    but i'm a minimalist
    "When the child was a child it waited patiently for the first snow and it still does"- Van "The Man" Morrison
    "I find I have already had my reward, in the doing of the thing" - Buzz Holmstrom
    "THIS IS WHAT WE DO"-AML -
    ski on in eternal peace

  9. #34
    Join Date
    Nov 2011
    Posts
    414
    I watched a guy do this very thing. At 45 he planned his exit strategy, at 50 sold his business and pocketed in excess of 18 million. He thought he had a retirement plan in place that included travel, charity work etc.

    Within a year, it all began to unravel. His wife didn't want to travel as much as he did, he was bored, problems started in the relationship an almost divorce occurred.

    In the end, he bought another business and is back to work.

    Not saying it would happen to everybody but it happens

    To accumulate that kind of wealth requires fierce dedication. it's tough to just turn the switch on that and relax.
    Global warming is a religion not a science.

  10. #35
    Join Date
    Oct 2002
    Location
    Shadynasty's Jazz Club
    Posts
    8,254
    Could do it on $1Mil, $2Mil would be better/easier.
    Remind me. We'll send him a red cap and a Speedo.

  11. #36
    Join Date
    Mar 2011
    Location
    Magically whisked away to...Delaware
    Posts
    2,300
    10mill...20mil...Man, how much does everyone make in here?

    I will say: just shy of $2.5million. If we're using the interest premise, that will give me round $100K/yr. Since I live on waaaay less then that now (and make student loans + mortgage + car payments), I think I can live pretty comfortably on $100K/yr if I owe $0.00.

    -Smarty

  12. #37
    Join Date
    Oct 2003
    Location
    Seattle
    Posts
    17,986
    Quote Originally Posted by Cono Este View Post
    Id say mine is 20k a month before taxes.
    Cono Este needs to start lighting his cigars with $50s rather than $100s.

    But you seriously think you'd need $20K per month to live the way you'd like to?

  13. #38
    Join Date
    Dec 2005
    Location
    STL
    Posts
    8,609
    Quote Originally Posted by The AD View Post
    Cono Este needs to start lighting his cigars with $50s rather than $100s.
    But you seriously think you'd need $20K per month to live the way you'd like to?
    Realistically, you have 7500 in income and property taxes. Assuming your home is paid off. Then you have to budget a few thousand here and there for fucked up kids and broke parents, then you have yourself. 10k a month.

    Any less, and you should keep earning. I tried to stop early, and I wont make that mistake again. Your done, when your done. No two ways about it.

    With a worthless dollar and the printing presses running the graveyard shift at the fed, the price of retirement doubled on unsuspecting baby boomers who thought they had it made. Once you think your done, another curve ball is coming your way. That you can count on.
    Last edited by Cono Este; 12-12-2011 at 09:30 AM.

  14. #39
    Join Date
    Oct 2003
    Location
    Golden BC
    Posts
    3,617
    I'm at the low end in terms of want for $$. My number is $1.2mil. That is with being set up with everything set up ready to go and no debt. That assumes 5% return with 2% inflation.

    Done a pretty detailed budget that includes no travel other than dirt bag road trips to parts of BC that haven't been. If extra cash then maybe some trips but I think I'd rather spend $ on Chatter Creek or other local cat outfits.
    Mrs. Dougw- "I can see how one of your relatives could have been killed by an angry mob."

    Quote Originally Posted by ill-advised strategy View Post
    dougW, you motherfucking dirty son of a bitch.

  15. #40
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    17,978
    Consider when you go to a party the first thing people you meet ask is "what do you do? " because your job the one you complain about either working for the man or being the man is what defines you .So suddenly you are no longer in the game but you got enough money, food, booze, smoke, skis, bikes and you are the only one by the way cuz all yer buddies, maybe your wife or GF are still working ... is that gona make you happy ?

    IME the people who say they know what they would do with a bunch of $$$ have never done the time to actualy earn that money and the people who can actualy afford to retire don't wana go cuz they are habituated to keep turning up at work ... its nice to have somewhere to go every morning



    remember the "Whats the hardest thing you ever did ? " thread to which I replied " nothing " ?

  16. #41
    Join Date
    Oct 2008
    Location
    Wenatchee
    Posts
    7,661
    The people I know that have "retired" young have all had rental properties and not large cash reserves. I live very cheaply and could, if it were not for the wife, make do with 40k a year comfortably with no debt.

  17. #42
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    17,978
    ^^ good strategy, I got a rental suite in the basement that pays the mortgage and most of the utilities

  18. #43
    DJSapp's Avatar
    DJSapp is online now (╯□)╯︵ ┻━┻
    Join Date
    Oct 2003
    Location
    All over NCal
    Posts
    6,252
    $14 million. Being at work 60 hours a week is the only thing keeping me from spending a shitload of cash on hookers and blow. I need the investment to perpetuate itself and beat inflation.
    Fat fuck bubbas are not erosion.

  19. #44
    Join Date
    Jan 2005
    Location
    co
    Posts
    2,302
    My parents and huge extended family are all farmers/ranchers. In the next 15 years myself and my sibs need to figure out what to do with their property, they bought it at $45/acre, now valued around $2200/. They still live there, it does generate a fairly robust income that we all share equally. It will continue to generate income, why I hesitate to completely sell it all off. At present the value is around $11MM. I have thought about putting a low maint house out there middle of nowhere, have threatened a yurt. Little brother says it will get hit by lightening. They have two paid for vacation houses with a third being built with a fourth coming. These are rental properties that my sister manages and they pay for themselves.

    My father in law was a corporate man, worked his way up to Director level at Northwest Airlines. Saved his ass off, work was his only hobby-no other hobbies ever. Retires at 62, has been pissed off about not working ever since. Manages his moneys, plans for my kids education, manages his moneys, pissed at his old lady for hitting the sauce early in the afternoon. They could travel free first class anywhere, but don't, too much hassle.

    I have a couple of friends from heavy family money, north of $100MM country. One has never had a job, one worked for a while as a geologist. Truthfully their lives suck and I wouldn't want to live like them.

    For me, I work 30ish hours a week and do well. I have time to ride my bike during the day, live the life I want and it works. So many people rathole the loot to retire with no real plan of what to do with themselves or live a life until that point. I have friends that squeak they are so tight, think about that egg, that egg, that egg. I guarantee one of them won't live past 60. If I punched out at 55 to doing nothing I'd be a mess, I need structure of something to do-my wife is worse. My parents are the happiest tooling around their property on a quad, chasing a cow, fixing fence, driving a tractor, etc. Compared to many of my friends whose parents did the more "traditional" route they are huge successes-but initially appeared to not be.

    Number? There isn't a number for me to just check down.

  20. #45
    Join Date
    Sep 2010
    Posts
    9,023
    Right now at 33? $6M. If I don't retire with $2M I will feel like I fucked up.
    Brought to you by Carl's Jr.

  21. #46
    Join Date
    Jan 2005
    Location
    Access to Granlibakken
    Posts
    7,106
    2 million would be nice. 1 million will be doable. At age 70, i'll just intentionally screw up a BASE jump.

    owning a paid-off home in the mountains is key. i will be living very cheaply up here when that retirement or semi-retirement comes.

    i think the advice about not having a GF doesn't make sense. the key is to find one of the many out there that don't want to have kids. if you must have a kid, make sure he or she has made their first million by age 20.

  22. #47
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    36,262
    Quote Originally Posted by Cono Este View Post

    With a worthless dollar and the printing presses running the graveyard shift at the fed, the price of retirement doubled on unsuspecting baby boomers who thought they had it made. Once you think your done, another curve ball is coming your way. That you can count on.
    I don't get that. What does a weak dollar or the fed have to do with it? No trips to Paris in retirement? Jackson instead of Chamonix?

    First, the Boomers fucked up by not saving. One third have nothing except social security. The middle third have maybe 30 thou and no pension. The top twenty percent are in six figures, but not seven. One third of 65 year olds + have a mortgage. One third! At 65! But now that rates are at zero, the savers who didn't get caught in the ponzis of housing and stocks aren't getting jack for their money, unless they jump in on Groupon. I swear, if someone could absolutely assure me of 5% for the rest of my life, he can have it all. But he's in jail, isn't he?

    Let's do some livin'
    After, we die

  23. #48
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    17,978
    Quote Originally Posted by frorider View Post

    i think the advice about not having a GF doesn't make sense. the key is to find one of the many out there that don't want to have kids. if you must have a kid, make sure he or she has made their first million by age 20.
    you obviously haven't given away half of everything once or twice ?

    IME the key is to find a GF who doesn't cost anything and really doesn't need you, what the french guy on last yrs banf-LL-KH-revy-rogers pass trip reffered to as the "Femme Autonomme" it became one of the catch phrase's for the whole trip

  24. #49
    Join Date
    Mar 2004
    Location
    West Coast of the East Coast
    Posts
    6,503
    Quote Originally Posted by smartyiak View Post
    10mill...20mil...Man, how much does everyone make in here?

    I will say: just shy of $2.5million. If we're using the interest premise, that will give me round $100K/yr. Since I live on waaaay less then that now (and make student loans + mortgage + car payments), I think I can live pretty comfortably on $100K/yr if I owe $0.00.

    -Smarty
    I think you mean how much does everyone save?

    I have put at least 10% of my pay into my 401k since I was 23. About 5 years ago, they stopped offering pensions, and moved to a 50% match on 401k up to 6%.
    I was grandfathered into the pension.

    So, I have a guaranteed income for the rest of my life, even more if SS $ is still available. Questionable at this point.

    My number is $3.25 mil.

  25. #50
    Join Date
    May 2002
    Posts
    29,349
    $2 million in property, $2 million cash.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •