- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: I just happened upon my parent's retirement portfolio
Posted on 4/15/12 at 11:26 am to MinnesotaTiger
Posted on 4/15/12 at 11:26 am to MinnesotaTiger
quote:
Its like $1.1 million and yeah they do have timber and (small) oil interests on their land. If I had to guess I would have thought their cash/portfolio would have.been over $3MM and its barely 1/3 of that.
They are probably in the top 1 percent all households in America.
2
Posted on 4/15/12 at 11:39 am to JWS3
quote:
Its like $1.1 million and yeah they do have timber and (small) oil interests on their land.
I now feel pissed for investing two minutes in this thread
Posted on 4/15/12 at 11:44 am to Alabama Slim
quote:
I now feel pissed for investing two minutes in this thread
Yeah, no shite.
Posted on 4/15/12 at 12:37 pm to TheHiddenFlask
quote:
False.
The way to do it is save a boatload of money, put it into a trust, and add a bunch of stipulations to it so that you can enforce your will from the grave.
This times 1,000,000
This post was edited on 4/15/12 at 2:24 pm
Posted on 4/15/12 at 3:40 pm to JWS3
No way are they in the top 1%
Posted on 4/15/12 at 4:33 pm to MinnesotaTiger
quote:
Minnesota Tiger
You sound like a spoiled little bastard. Your parents have done a shitty job raising you, and an incredible job saving money Especially when you count all the downturns the economy has went through over the years with most investments.
Posted on 4/15/12 at 5:22 pm to WHATDOINO
I'm 33 and I've had shitty work luck, paid for my own graduate degree, and my 401k is already worth 1/3 of their entire portfolio. All without the benefit of the insane bull markets they've enjoyed. I'm astounded that they aren't worth at least twice what they have.
Plus more than half of their wealth was inherited. My dad is fricking lazy IMO.
Plus more than half of their wealth was inherited. My dad is fricking lazy IMO.
This post was edited on 4/15/12 at 5:24 pm
Posted on 4/15/12 at 5:33 pm to MinnesotaTiger
Have they really enjoyed these bull markets? I'd imagine that, having retired at a relatively early age, the bulk of their portfolio was in conservative, income-producing investments, whereas your 401k might be much more aggressive.
I obviously can't speak to the work ethic of your father, but taken simply in terms of net worth, I feel that you could do a lot worse than doubling your inherited wealth.
I obviously can't speak to the work ethic of your father, but taken simply in terms of net worth, I feel that you could do a lot worse than doubling your inherited wealth.
Posted on 4/15/12 at 5:34 pm to MinnesotaTiger
quote:
My dad is fricking lazy IMO.
Not a nice thing to say about your old man. Think about all the good stuff he has done for you over the years.
Posted on 4/15/12 at 5:39 pm to MinnesotaTiger
Parent's having a networth of only 1 mill = 1st world problems.
Posted on 4/15/12 at 6:05 pm to Alabama Slim
quote:
I now feel pissed for investing two minutes in this thread
I thought the OP was looking at less than 250k
Posted on 4/15/12 at 7:00 pm to MinnesotaTiger
quote:
Its like $1.1 million and yeah they do have timber and (small) oil interests on their land.
quote:So why not let them know that, then encourage them to spend freely since you'll be set?
Hell, my 401K and IRA's will be likely be worth more than this portfolio in another 15 years and I'm in my early 30's.
Posted on 4/15/12 at 7:02 pm to MinnesotaTiger
quote:Wow! Not sure if serious
Plus more than half of their wealth was inherited. My dad is fricking lazy IMO.
Posted on 4/15/12 at 7:03 pm to NC_Tigah
quote:
So why not let them know that, then encourage them to spend freely since you'll be set?
Hell, my parents just spent 5 years working 4 jobs to get out of 180k debt they built over a very long time.
Whatever retirement they had didn't get touched, but they obviously didn't put shite in it.
I'm just happy they aren't going to pass that mountain of debt on to me. Sure, they got in a hole, but I think they are in the 1% of people who actually sacked up and paid it off.
Posted on 4/15/12 at 8:41 pm to JWS3
quote:
My response is always to suggest they do what my parents did for me, plan so all of their needs later in life are taken care of to the point there is little chance they will ever need assistance from their children, if they should die leaving nothing, their children still got a great deal!
When my mom/dad want to travel they fret over the money. They are comfortable with their retirement and savings ... I always tell them to GO AND SPEND IT ... enjoy what they've worked for.
I also throw in to "please just leave enough for me to take care of you and buy you"! I expect nothing. Her sentinmental jewelry yes ... his guns/things of that nature for my brothers yes. Money? Hell no ... they earned it and it's theirs to enjoy ... hopefully most if not all of it.
Posted on 4/15/12 at 8:44 pm to MinnesotaTiger
quote:
I'm 33
quote:
I've had shitty work luck
quote:
paid for my own graduate degree
quote:
my 401k is already worth 1/3 of their entire port
So you have 300k in a 401k in 10 years of working with shitty work luck and going to graduate school. You would have had to max out 401k contribution and have returns of 28% plus per year. I call bullshite.
Posted on 4/15/12 at 9:54 pm to tiger91
I tell my parents to spend it like it's stolen.
Be a man and don't complain about what your parents have/don't have.
Be a man and don't complain about what your parents have/don't have.
Posted on 4/16/12 at 6:28 am to kaaj24
Hypothetical, but say instead of investing they bought land. Why wouldn't that be considered retirement??
Some people prefer to buy land rather than invest, and in most instances it's hard to argue that mentality other than maybe the last five years.
Oh and great move calling your dad lazy.
Some people prefer to buy land rather than invest, and in most instances it's hard to argue that mentality other than maybe the last five years.
Oh and great move calling your dad lazy.
Posted on 4/16/12 at 10:35 am to StrangeBrew
quote:
So you have 300k in a 401k in 10 years of working with shitty work luck and going to graduate school. You would have had to max out 401k contribution and have returns of 28% plus per year. I call bull shite.
This
Posted on 4/16/12 at 10:46 am to MinnesotaTiger
quote:
Plus more than half of their wealth was inherited. My dad is fricking lazy IMO.
My wife's grandfather worked like a dog in his own business and made a million. He had one child, my wife's mom. Mom spent it all. She's broke. When she dies she will leave my wife ZERO. Count your blessings.
Page 2 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News