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re: What retirement savings balance is your goal, and by what age?
Posted on 1/2/21 at 4:22 pm to JohnnyKilroy
Posted on 1/2/21 at 4:22 pm to JohnnyKilroy
There are a huge range of personalities when it comes to investing.
I have a brother-in-law that thinks that if you do anything with your money other than stick it in a bank you are a fool. If this is your mind set, you will probably work until you die and will never retire and probably be behind the eight ball for life.
Some people are ecstatic earning 18% in a mutual fund in a year. If you are in this boat, you will probably retire in your late 60's and life a comfortable life assuming you stick to that plan.
I ain't either of those. If you are hoping to retire prior to that you have to be smart, get educated on money and make your success.
Most people with a large amount of money already know that you can't possibly earn as much as your money will make you once it starts to get rolling. Regardless of income, it is all relative.
I have a brother-in-law that thinks that if you do anything with your money other than stick it in a bank you are a fool. If this is your mind set, you will probably work until you die and will never retire and probably be behind the eight ball for life.
Some people are ecstatic earning 18% in a mutual fund in a year. If you are in this boat, you will probably retire in your late 60's and life a comfortable life assuming you stick to that plan.
I ain't either of those. If you are hoping to retire prior to that you have to be smart, get educated on money and make your success.
Most people with a large amount of money already know that you can't possibly earn as much as your money will make you once it starts to get rolling. Regardless of income, it is all relative.
This post was edited on 1/2/21 at 4:24 pm
6
Posted on 1/2/21 at 4:30 pm to oneg8rh8r
quote:
Some people are ecstatic earning 18% in a mutual fund in a year. If you are in this boat, you will probably retire in your late 60's and life a comfortable life assuming you stick to that plan.
Ehh.
I'm ecstatic with that and I'll be able to retire in my mid 40s if I so desired assuming historical AVERAGE market performance over the next 15 years. I want my retirement to be nicer than that so I'll almost certainly stay in the game for 10 years or so after I hit my FI number.
Depends on what you do. If you are a median or near median income earning household, investing what you can in solid, diverse mutual funds can lead you to a comfortable retirement, but probably not an early retirement.
If you are a high earner and you can follow the same plan and retire much earlier assuming you are dumping 30+% of your take home into investments.
This post was edited on 1/2/21 at 4:46 pm
Posted on 1/2/21 at 5:26 pm to oneg8rh8r
quote:You realize if you could get 18% annualized returns each year, anyone in the thread could probably retire by 50. Even half of that over the course of an entire investment career would be absolutely outstanding and lead to retiring before late 60s.
Some people are ecstatic earning 18% in a mutual fund in a year. If you are in this boat, you will probably retire in your late 60's and life a comfortable life assuming you stick to that plan.
Posted on 1/2/21 at 6:09 pm to oneg8rh8r
quote:
Some people are ecstatic earning 18% in a mutual fund in a year.
You act like that isn't a moon shot.
Posted on 1/2/21 at 6:53 pm to oneg8rh8r
Earning 18% return will cause you to retire late 60’s?!? I hope not. I mostly invest in s&p index funds and total market funds but after reading this thread it appears I should look into other options also. The thing is to consistently find sectors that outperform the s&p and be correct each and every year is a very difficult and almost luck event. I got very lucky and invested heavily in technology mutual funds and Disney at the beginning of 2020 which turned out awesome 50%+ and 80%+ return in my regular brokerage trading account on those. Unfortunately I wasn’t weighted like this in my retirement accounts and ended up with a 18% return in those because I’m not confident I can make yearly decisions on which sector will explode year after year. If I had invested in a oil and gas mutual fund at the beginning of 2020 instead of technology I would of lost prob 30-40%. I look back and realize it was a risky move I did that actually paid off big but am learning that it was mostly dumb luck. I’d happily take 18% average return and retire at 50 if I could get 18%.
This post was edited on 1/2/21 at 6:55 pm
Posted on 1/2/21 at 6:53 pm to oneg8rh8r
quote:
Some people are ecstatic earning 18% in a mutual fund in a year. If you are in this boat, you will probably retire in your late 60's and life a comfortable life assuming you stick to that plan.
Is this serious?
Posted on 1/3/21 at 10:17 am to oneg8rh8r
quote:Poor broke bastards.
Some people are ecstatic earning 18% in a mutual fund in a year. If you are in this boat, you will probably retire in your late 60's
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