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re: What is y'all's $ amount goal for retirement?
Posted on 10/21/14 at 4:40 pm to fightin tigers
Posted on 10/21/14 at 4:40 pm to fightin tigers
quote:
It may be due to the age of the posters. Everyone thinks they will retire with millions when they are younger. Once you get into a career and life catches up you realize it isn't that easy or necessary.
spot on, and it makes me more in awe of what my Dad accomplished in his lifetime, came from nothing, probably made more in a year(during a certain time span,) than I'll make over my earning career
0
Posted on 10/21/14 at 4:47 pm to white perch
I want to save enough for retirement to start a business. House paid off, son's school paid for, some living expenses in 401k, really enough to just start a small business that he wife and I would enjoy doing would be fine.
That, and I want to buy her an AMAZING rack when she hits 60. They let you do that?
That, and I want to buy her an AMAZING rack when she hits 60. They let you do that?
Posted on 10/21/14 at 4:50 pm to PhiTiger1764
quote:this
In today's dollars, I think $2MM between myself and my future wife would suffice.
Posted on 10/21/14 at 4:57 pm to white perch
I plan to die broke
Posted on 10/21/14 at 4:58 pm to beaverfever
But, what happens when you suckers work and save for retirement, and the government 'nationalizes' all retirement accounts? They take the money in exchange for a future benefit?
Hell, you owe them the taxes on tax-deferred accounts anyway, so part already belongs to them. To pay for previous retirees.
Then you ran like a hamster in the wheel for a long, long time, only to have the cheese taken away at the end. Then what?
Hell, you owe them the taxes on tax-deferred accounts anyway, so part already belongs to them. To pay for previous retirees.
Then you ran like a hamster in the wheel for a long, long time, only to have the cheese taken away at the end. Then what?
Posted on 10/21/14 at 5:01 pm to Traffic Circle
We'll be beyond screwed at that point. What happens when you don't save and live off ramen in a shack when you're 75?
Posted on 10/21/14 at 5:03 pm to jimbeam
quote:
We'll be beyond screwed at that point. What happens when you don't save and live off ramen in a shack when you're 75?
You just wait for the government to nationalize savers' accounts to distribute so you don't have to live in a shack and eat ramen.
Posted on 10/21/14 at 5:04 pm to Traffic Circle
Just like I'll get top notch healthcare 
You can live your life scared, or you can take it by the horns and deal with the consequences
You can live your life scared, or you can take it by the horns and deal with the consequences
This post was edited on 10/21/14 at 5:06 pm
Posted on 10/21/14 at 5:07 pm to Traffic Circle
It won't be a light switch situation, so during the time when it becomes apparent that it is about to happen, I'll liquidate, eat the tax liability and gtfo. Or don't pay the taxes and really gtfo.
Posted on 10/21/14 at 5:08 pm to GRTiger
quote:
I'll liquidate, eat the tax liability and gtfo
you can actually do this without the tax and penalty depending on IRA v. 401k
Posted on 10/21/14 at 5:16 pm to 777Tiger
Well yea. We personally have a combo of pre-tax and after tax contribution accounts, so we aren't paying a bunch check of taxes in retirement. In my bug out scenario, I am talking about the liability on the 401(k) accounts, which are our largest accounts at this point.
Posted on 10/21/14 at 5:21 pm to GRTiger
quote:
Well yea. We personally have a combo of pre-tax and after tax contribution accounts, so we aren't paying a bunch check of taxes in retirement. In my bug out scenario, I am talking about the liability on the 401(k) accounts, which are our largest accounts at this point.
yep, the 401 will take the taxes before sending you the check, IRA won't, so bug out strategy should include roll over to IRA, cash out, and buy first class seats on the swankiest airline for the first stop to being an ex pat
Posted on 10/21/14 at 5:22 pm to 777Tiger
Roth ira*
Posted on 10/21/14 at 5:24 pm to jimbeam
quote:
Roth ira*
never was a player for me, but I was forced to roll over my retirement account to an IRA(among other options)
Posted on 10/21/14 at 5:33 pm to Traffic Circle
quote:
But, what happens when you suckers work and save for retirement, and the government 'nationalizes' all retirement accounts? They take the money in exchange for a future benefit
Civil War 2
I plan on having about $20 mill and two 25 year olds; 1 blonde, 1 brunette
Posted on 10/21/14 at 5:36 pm to Kankles
quote:
I plan on having about $20 mill and two 25 year olds; 1 blonde, 1 brunette
Posted on 10/21/14 at 5:36 pm to Kankles
No redhead?
Posted on 10/21/14 at 5:37 pm to Kankles
quote:
plan on having about $20 mill and two 25 year olds; 1 blonde, 1 brunette
It takes about 2MM to fool 25 year olds
At least the 25 year olds I will have interest in.
Posted on 10/21/14 at 5:38 pm to jimbeam
quote:
No redhead?
they're crazy, gotta have stability in that environment
Posted on 10/21/14 at 5:42 pm to 777Tiger
quote:
they're crazy, gotta have stability in that environment
frick that, I want them to kill me with my last dollar.
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