Page 36 of 40 FirstFirst ... 31 32 33 34 35 36 37 38 39 40 LastLast
Results 876 to 900 of 990
  1. #876
    Join Date
    Jul 2016
    Location
    NY
    Posts
    239
    Quote Originally Posted by SkiCougar View Post
    2.5 mil, you got some pricey house or travel tastes imo. imo, if you think and plan; you could do it for a lot less; but some want a house in CA or Boston or something slopeside; I prefer the time; I can rent that view.
    I know a former Fidelity exec who decided 1 mil in the bank was enough when she was about 45-47 or so and quit early to full time parent her two teenagers. She’s 58 now and trying to build a new career in real estate sales, having been forced to sell her own houses year or so ago. She wasn’t living high on the hog either, just whittled it down over time. 2.5 sounds realistic to me- maybe even a little low.

  2. #877
    Join Date
    Jan 2006
    Location
    Alpental
    Posts
    5,549
    Quote Originally Posted by SkiCougar View Post
    2.5 mil, you got some pricey house or travel tastes imo. imo, if you think and plan; you could do it for a lot less; but some want a house in CA or Boston or something slopeside; I prefer the time; I can rent that view.
    little blurb in the paper the other day said financial independence was achieved when you had saved/accumulated 25X your annual expenses. Sounds not too far out of line, scaled to your expenses.
    Move upside and let the man go through...

  3. #878
    Join Date
    Feb 2008
    Posts
    458
    Quote Originally Posted by SkiCougar View Post
    2.5 mil, you got some pricey house or travel tastes imo. imo, if you think and plan; you could do it for a lot less; but some want a house in CA or Boston or something slopeside; I prefer the time; I can rent that view.
    I'd love to make that number lower -- I'm all ears for any suggestions. But yeah, that would come out to about 25x our annual spending...we live in a fairly expensive area, but most of the other places I'd like to go are expensive too - close to skiing tends to be $$$. And then healthcare is the big question mark, like I said.

  4. #879
    Join Date
    Feb 2008
    Posts
    458
    Quote Originally Posted by Brownskii View Post
    I know a former Fidelity exec who decided 1 mil in the bank was enough when she was about 45-47 or so and quit early to full time parent her two teenagers. She’s 58 now and trying to build a new career in real estate sales, having been forced to sell her own houses year or so ago. She wasn’t living high on the hog either, just whittled it down over time. 2.5 sounds realistic to me- maybe even a little low.
    That would so disappointing...but as a Fidelity exec, she should have known better!

  5. #880
    Join Date
    Mar 2006
    Posts
    15,273
    Quote Originally Posted by Mofro261 View Post
    little blurb in the paper the other day said financial independence was achieved when you had saved/accumulated 25X your annual expenses. Sounds not too far out of line, scaled to your expenses.
    Financial Advisors always want you to save more. That's their business.

  6. #881
    Join Date
    Nov 2007
    Location
    Eburg
    Posts
    13,082
    Quote Originally Posted by Mofro261 View Post
    little blurb in the paper the other day said financial independence was achieved when you had saved/accumulated 25X your annual expenses. Sounds not too far out of line, scaled to your expenses.
    That's the age-old 4% rule and/or multiply-by-25 rule, depending on how the blurb was phrased. But those rules are incomplete rules as one nears SS age because age and SS and defined benefit pensions matter, e.g., a couple aged 70 and 62 with no debt and a paid-off house who collect Social Security benefits and/or defined benefit pension payments covering 80% of their annual expenses can have financial independence with retirement/savings of far less than 25X annual expenses.
    Last edited by GeezerSteve; 01-01-2020 at 05:49 PM.

  7. #882
    Join Date
    Feb 2008
    Location
    here and there
    Posts
    15,982
    treefiddy
    watch out for snakes

  8. #883
    Join Date
    Sep 2007
    Location
    tetons
    Posts
    6,917
    Quote Originally Posted by Brownskii View Post
    having been forced to sell her own houses
    this would be the key to her failure
    $1m isn't shizz when you are living the lifestyle of multiple homes
    skid luxury

  9. #884
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    38,039
    Quote Originally Posted by Brownskii View Post
    I know a former Fidelity exec who decided 1 mil in the bank was enough when she was about 45-47 or so and quit early to full time parent her two teenagers. She’s 58 now and trying to build a new career in real estate sales, having been forced to sell her own houses year or so ago. She wasn’t living high on the hog either, just whittled it down over time. 2.5 sounds realistic to me- maybe even a little low.

    A Vanguard exec wouldn't have splurged so much.

    I don't feel too bad for her, because I was forced to pay Fidelity exorbitant fees for minimal choices in my 401k for years, at multiple companies, and they also sucked money out of my profit sharing and "savings plan" while I watched with no power to do otherwise. And, no doubt, there was somebody or somebodies in my companies who received a nice "fee" to give them all of our business. No, I shed no tears for the finance leeches that aren't living the life they thought they could.

    Let's do some livin'
    After, we die

  10. #885
    Join Date
    Jul 2016
    Location
    NY
    Posts
    239
    Quote Originally Posted by babybear View Post
    this would be the key to her failure
    $1m isn't shizz when you are living the lifestyle of multiple homes
    The s was a typo- should have been singular. Iím not expecting anybody to feel sorry, just pointing out that a mil isnít as much as it seems nowadays.

  11. #886
    Join Date
    Sep 2009
    Location
    Down by the river, Terrace, BC
    Posts
    3,200
    Quote Originally Posted by Brownskii View Post
    The s was a typo- should have been singular. Iím not expecting anybody to feel sorry, just pointing out that a mil isnít as much as it seems nowadays.
    No it's not. However there is some stock in choosing a location you can afford. I wouldn't be able to afford retirement in Whistler or Aspen, but I can in Terrace.
    ďI tell you, we are here on Earth to fart around, and don't let anybody tell you different.Ē
    ― Kurt Vonnegut, A Man Without a Country

    www.mymountaincoop.ca

    This is OUR mountain - come join us!

  12. #887
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    19,021
    Ya G has it ^^ we would be the night clerks at 7-11 or Walmart greeters wearing that blue vest with all the badges down south but up narth we live like fucking kings eh ?
    Lee Lau - xxx-er is the laziest Asian canuck I know

  13. #888
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    38,039
    Well, she also had a lot of her money "invested" in a very poor performing asset over that time period. Unless she was actually living in Aspen. Stock market would have done her a lot better, holding through downs. But, then again, I'm not a Fidelity exec. They charge 1-2% for financial advice on captive money that they're already getting up to 4 or 5% (with fees) just to "manage". What do I know.

    Let's do some livin'
    After, we die

  14. #889
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    38,039
    There are millions and millions and millions of people paying way too much for their shelter these days.

    But, then again, real estate never goes down, right?

    Let's do some livin'
    After, we die

  15. #890
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    19,021
    you mean like 2 people in a 2000-3000 sq' house in a gated community ?
    Lee Lau - xxx-er is the laziest Asian canuck I know

  16. #891
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    38,039
    Quote Originally Posted by XXX-er View Post
    you mean like 2 people in a 2000-3000 sq' house in a gated community ?
    3000? pfffft. I could show you shit here that would blow your mind. Fuck, the garage/poolhouse is probably close to that.

    But, no, that's not what I meant. Everyday people living in half million dollar homes.

    Let's do some livin'
    After, we die

  17. #892
    Join Date
    Jan 2008
    Location
    truckee
    Posts
    11,715
    Quote Originally Posted by Benny Profane View Post
    A Vanguard exec wouldn't have splurged so much.

    I don't feel too bad for her, because I was forced to pay Fidelity exorbitant fees for minimal choices in my 401k for years, at multiple companies, and they also sucked money out of my profit sharing and "savings plan" while I watched with no power to do otherwise. And, no doubt, there was somebody or somebodies in my companies who received a nice "fee" to give them all of our business. No, I shed no tears for the finance leeches that aren't living the life they thought they could.
    I worked for a huge medical group. Fidelity charged us a pittance--and the group picked up the fees as long as we stayed with the handful of company sponsored investments--a stock index fund, a intermediate term conservative bond fund, that sort of thing. The group figured out that the young guys and gals did all the work while the old farts sat around collecting the biggest salaries, so they made early retirement very attractive.

  18. #893
    Join Date
    Jan 2010
    Location
    your vacation
    Posts
    1,900
    Quote Originally Posted by Benny Profane View Post

    But, no, that's not what I meant. Everyday people living in half million dollar homes.
    It happens benny. Half million isn't shit. Always think about liquidating and moving to the adirondacks or buying a trailer in Apache junction

    Sent from my SM-J737V using TGR Forums mobile app

  19. #894
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    38,039
    Quote Originally Posted by fastfred View Post
    It happens benny. Half million isn't shit. Always think about liquidating and moving to the adirondacks or buying a trailer in Apache junction

    Sent from my SM-J737V using TGR Forums mobile app
    Says a Breck resident. You live in a home surrounded by empty million and two million plus empty mini mansions. I know, you're jaded.

    But, I'm not talking Breck. I'm talking about whatever is left of the middle class of America paying way too much of their income on shelter, and then there's the whole issue of people who aren't on that train trying to get on, like young people with 1.5 trillion in education debt and crappy jobs. It was a stupid market in 2004, and it's even stupider now.

    BTW, I'm ok. I'm not living in Breck. That would have been a mistake.

    Let's do some livin'
    After, we die

  20. #895
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    38,039
    Quote Originally Posted by old goat View Post
    I worked for a huge medical group. Fidelity charged us a pittance--and the group picked up the fees as long as we stayed with the handful of company sponsored investments--a stock index fund, a intermediate term conservative bond fund, that sort of thing. The group figured out that the young guys and gals did all the work while the old farts sat around collecting the biggest salaries, so they made early retirement very attractive.
    You might be surprised at what you were actually paying that company. They have a large advertising budget they need to cover. Go back and read the fine print.

    Let's do some livin'
    After, we die

  21. #896
    Join Date
    Jan 2010
    Location
    your vacation
    Posts
    1,900
    Quote Originally Posted by Benny Profane View Post

    BTW, I'm ok. I'm not living in Breck. That would have been a mistake.
    Greatest mistake I ever made in life

    But yeah look at suburban dc what people are paying for over sized shit holes with granite counter tops heck might as well throw in suburban denver to that mix

    If 2.5 is the number I'm goid should retire this year

    Sent from my SM-J737V using TGR Forums mobile app

  22. #897
    Join Date
    Jan 2008
    Location
    truckee
    Posts
    11,715
    Quote Originally Posted by Benny Profane View Post
    You might be surprised at what you were actually paying that company. They have a large advertising budget they need to cover. Go back and read the fine print.
    Nope. We're big enough, savvy enough, and honest enough to get a good deal from Fidelity. It also helps that the employees covered by the plan and the shareholders of the group are the same and we elect the BOD, which includes the retirement committee. I don't have the yearly retirement fund report from the group so I can't quote what the group is paying fidelity but my expense ratio is 0%. This is for group specific funds not traded on the open market. If I wanted to invest in a publicly open fund offered by Fidelity I would pay the same expense ratio other Fidelity customers pay.

  23. #898
    Join Date
    Aug 2006
    Posts
    5,500
    Quote Originally Posted by Benny Profane View Post
    Well, she also had a lot of her money "invested" in a very poor performing asset over that time period. Unless she was actually living in Aspen. Stock market would have done her a lot better, holding through downs. But, then again, I'm not a Fidelity exec. They charge 1-2% for financial advice on captive money that they're already getting up to 4 or 5% (with fees) just to "manage". What do I know.

    No one pays 5-6 percent in a 401k. Sometimes you are so full of shit Benny.

  24. #899
    Join Date
    Oct 2003
    Location
    Seattle
    Posts
    18,746
    Quote Originally Posted by garyfromterrace View Post
    No it's not. However there is some stock in choosing a location you can afford. I wouldn't be able to afford retirement in Whistler or Aspen, but I can in Terrace.
    I saw a story recently that Meadow Park Rec Centre in Whistler has a lifeguard shortage. I believe the pay is about $20/hour. I wonder how many hours I'd need to work per week to be able to afford to live there? Oh shit, I probably can't get a job anyway because I'm American.

  25. #900
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    19,021
    maybe but what Benny ain't full of shit about is the everyday people living way above their means

    From my perspective as a gentleman skier it be be 15 yars in june with no job

    you can look like you are livving large, or just ski a lot,

    IME half a million IS shit so I spent half that figure and rented to tenants ... who pay my way

    .
    Lee Lau - xxx-er is the laziest Asian canuck I know

Posting Permissions

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