thanx for the link
I’ve been retired over 25 years and my net worth has increased. So there!
One thing is for certain: DO NOT MOVE TO CALIFORNIA OR ILLINOIS!
You don’t own your house. The government lets you use it while it confiscates 3% each year in what is called the “property tax.” After 33 years it has taken the full value of your house. You get to pay insurance and upkeep.
The amount is disguised in what they call the “mill rate.” Most of the public never converts the “mill rate” to percent.
This speaks of investing. Invest what? Most folks I know have nothing left to invest when they are working for a living. Certainly can’t invest anything out of S.S. So where does that leave one? It leaves one with a lot less than $750K to supplement your income.
We’re planning a drastic downsizing and will be moving to a lower-tax county.
That in itself will save us a bundle as far as upkeep, property tax, and utilities.
Best course of action - go to work for the FBI for a few years and get a pension worth $1.8 million at age 50. http://www.freerepublic.com/focus/f-news/3640356/posts
The cost of raising a child is inflated in a deliberate attempt to discourage middle class people from having them.
We know the numbers are a lie because working class families often have multiple children and still get by.
Retire to a Third World country.
You’ll be amazed how comfortably you can live because the cost of living, taxes and expenses are much lower than in USA.
The numbers in the article aren’t accurate. Anyone who has $800,000 of investment assets gets much more than $16,000 in social security; especially a couple. To accumulate that much they have paid in the maximum SS tax for some time. The article is a come on for Fidelity.
The 4% rule assumes you get that return and really don’t need to draw down your assets unless there’s a change in your health.
I watched two mothers live into their 90’s with more modest assets than these figures, and they had small legacies to pass on.
Of course being frugal helps.
...If you have $738,000 saved up right now, your retirement is in reach...
Let’s get real.
Stocks that will split one day. Get rich.
Look at the 5 year chart to see the rise of these stocks.
NVDA – Nvidia - $102 to $250 in 1 year. I bought at $62.25 in Aug 2016
In the last year and a half it will have made any future retirement much easier for me even if it never goes up again.
Here are some others to look at.
ANET - Arista Networks Inc - $127 to $296 in 1 year
IPGP - IPG Photonics Corporation - $119 to $263 in 1 year
All our retirement is in our property and hopefully the sale of our business. Trying to get up to speed with an updated website for our business. Also for myself, thinking about going back to work for about 4 years until I’m 65 - this will pay for our health insurance ($1k a month) and pay down our mortgage.
The investing advice is nothing new, but restating doesn’t hurt. As for the prelude ...
Going into retirement debt free and owning your own home will make life much easier. It is possible to get by on the average SS alone, but there’s not much left for anything else.
As for the forty thousand dollar income figure, he says ‘after taxes.’ There is no need to pay income taxes on SS plus an IRA draw down not exceeding half your SS.
As for the $750,000 figure, if you have that much cash, you probably see money as just a way to keep score. If you can’t make it through retirement on that, then chances are you aren’t the one who accumulated it.
Ugly.