Money...retirement

Joined
Sep 21, 2014
Messages
259
Location
Oklahoma
Name
John
Do you have an amount that you want to save to feel comfortable? An amount fo retirement? I know it’s different depending on location. Are you comfortable if you save up 200k-300k? Or typical millions like everyone talks about. That’s not that easy though
 

Desk Jockey

Member
Joined
Oct 9, 2006
Messages
64,833
Location
A planet far far away
Name
Rico Suave
I don't plan on ever retiring. Bad things happen when people slow down. I'm giving it all until I ain't got any left. One of you fookers cover me up, so the buzzards don't get me.

We will need to downsize from a double wide to a single. My golden parachute has too many holes in it. Instead of a soft landing I'm just hoping not too get hurt to bad. :biggrin:
 
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hogjowl

Idiot™
Joined
Oct 7, 2006
Messages
47,883
Location
Prattville, Alabama
I don't plan on ever retiring. Bad things happen when people slow down. I'm giving it all until I ain't got any left. One of you fookers cover me up, so the buzzards don't get me.

We will need to downsize from a double wide to a single. My golden parachute has too many holes in it. Instead of a soft landing I'm just hoping not to get hurt to bad. :biggrin:
They might revoke your green card
 

Jim Williams

Member
Joined
Oct 8, 2006
Messages
1,462
Location
Bynum N.C.
Name
Jim Williams
Here's a plan from Dave Ramseys book "Total Money Makeover". You need to estimate how much you want to live on yearly in retirement. Take that number and divide by .08. This gives you the nest egg you will need. This is based on your money being in growth stock mutual funds averaging 12% per year and you living off 8% of that nest egg per year.

If I want to live on $70,000 per year I need to save $875,000 in order to never run out of money. If I only need $50,000 per year then I only need to save $625,000.

Like most carpet cleaners, I pray for a large inheritance because my chances of saving that much are slim.
 
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Kenny Hayes

Member
Joined
Apr 17, 2009
Messages
7,877
Location
Yukon, Oklahoma
Name
Kenny Hayes
Not retiring either. Gonna rag my kids till the day I go. I’ve planned on it. Moving my biz to my house with a shop so I can even sit on the patio and watch em come and go. They’re doomed :headscratch:
 
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Papa John

Lifetime Supportive Member
Joined
Aug 19, 2013
Messages
6,587
Location
San Francisco, CA.
Name
John Stewart
with those figures-- I have more then enough to retire now in Thailand or many other places in the USA except insanely over priced Kalifornia.
But I get bored after 4 days of not working.. I get all giddy when I get to repair things on the farm in Thailand.
 

BIG WOOD

MLPW
Joined
Feb 4, 2016
Messages
13,158
Location
Georgia
Name
Matt w.
I don't see myself having $200-$300k in an account when I'm in my 60's. My wife has some stock through her work that she's built up over the last 20 years, so that's better than nothing.

Actually, I'm in the beginning stages of investing in Rental property duplexes. My goal is to have them paid off by the time I'm 55, then it'll be equal to or more than what my business is bringing in every month gross
 
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FB7777

Guest
to Hit my magic number and then begin transitioning my portfolio to income based

Home in Falmouth cape cod and an income / winter property in Fort Myers area

Passive income rules
 

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