MadMikeOne
Loc: So. NJ Shore - a bit west of Atlantic City
jerryc41 wrote:
I got an email about how to retire comfortably.
"If you have $500,000, send for this brochure..."
If I had half a million dollars, I wouldn't need a brochure to retire comfortably.
Fisher Investments by chance?
jerryc41 wrote:
I got an email about how to retire comfortably.
"If you have $500,000, send for this brochure..."
If I had half a million dollars, I wouldn't need a brochure to retire comfortably.
Don’t bother sending for the brochure, just send them $500,000. You know that is what they want anyway.
jerryc41 wrote:
I got an email about how to retire comfortably.
"If you have $500,000, send for this brochure..."
If I had half a million dollars, I wouldn't need a brochure to retire comfortably.
And I love those retirement experts who tell you how to retire comfortably. "First," they'll say, "immediately start putting at least $500 a month into low-risk bonds or mutual funds." Sure; because the vast majority of low- to middle-class Americans trying to raise a family and paying rent or a mortgage always have an extra $500 kicking around at the end of the month."
fourlocks wrote:
And I love those retirement experts who tell you how to retire comfortably. "First," they'll say, "immediately start putting at least $500 a month into low-risk bonds or mutual funds." Sure; because the vast majority of low- to middle-class Americans trying to raise a family and paying rent or a mortgage always have an extra $500 kicking around at the end of the month."
Maybe they could use a credit card to pay that $500/month.
I utilized a few different ways to lift my asset column up while keeping my asset profile (taxes) down...which is your true goal...if you want to get anywhere that is.
Do it the regular way...the governments way...much more difficult.
If you are young...and working for yourself...as I was...you will find...you can opt out of Social Security.
SS is a horrible investment vehicle...safety net...whatever the label...not good.
It's run by politicians...so no one should be surprised by this...and their goals are not your goals after all.
Opt out if you have positive cash flow...take the money you would have sent to the govt. and invest it in just anything conservative...blue chip stocks.
You will outperform SS investments by ...well...I beat it by over 350%.
Once you see the math widen...it will change your entire attitude.
Then the game is afoot...how well you do is...up to you.
The email sent to you is phishing for potential victims. By responding, they know that you make a good target for their schemes of robbing you of your money for you have wealth. One of the ways is that clicking to get one of their brochures will plant a virus on your computer that scours it for information that will be sent back to the thief that will steal your identity and drain your accounts, open credit cards using your identity, etc, etc, etc.
MrBob wrote:
Yes, but guess where your perspective is coming from... CALIFORNIA. NOT representative of rural America.
I used to live in California but had to move to Nevada in order to "retire comfortably".
I helps that I win a lot of money at the casinos. NOT
. Actually, it's by staying away from the casinos that I am able to retire rather comfortably.
When I was a kid (50's-60's), I calculated that if I could accumulate $1,000,000, I'd be set forever. At 4% withdrawal per year (recommended rate), I've have had an income of $40,000 before taxes, parent's home in 1960 was $15,000 etc. Now people still think having a million makes one rich, but that would be the same as two people getting $20,000 each from SS, and don't hear anyone saying living on SS is being rich. Even very educated people I knew who maxed out their federal 401s were surprised to see how much more it would take to generate equivalent work salaries.
jerryc41 wrote:
I got an email about how to retire comfortably.
"If you have $500,000, send for this brochure..."
If I had half a million dollars, I wouldn't need a brochure to retire comfortably.
Let's assume you are 65 and you have $500K in your checking account. If you lived till 90, you could withdraw $1666.66 every month for your money to last 25 years. Do you consider this "retire comfortably"? I doubt.
DirtFarmer
Loc: Escaped from the NYC area, back to MA
I was comfortable after I retired for the first time. So I went to work full time on the farm.
Then I retired from the farm. I'm still comfortable.
I get a pension from the paying job and SS and some investments. But most of my net worth came from real estate.
Lee Travino had the perfect formula for retirement.
The trick isn't how much money you have. The trick is to have enough so that when you die, the money runs out on the same day. And he did the math, all he needed to do was die next Tuesday.
CaltechNerd wrote:
Lee Travino had the perfect formula for retirement.
The trick isn't how much money you have. The trick is to have enough so that when you die, the money runs out on the same day. And he did the math, all he needed to do was die next Tuesday.
It's like the fat man who said his weight is fine. He's just too short.
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