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Started By
Message
1
Posted on 8/4/14 at 3:20 pm to mattloc
quote:
Try Dave's plan and you wont just say it, but actually do it......I already have all I need to retire
How much do you have?
Posted on 8/4/14 at 3:21 pm to Saints72
quote:
Don't ya get shafted on the low pricing incentives if you choose the 0% route, so in the end it's a wash?
If you suck at negotiating you do.
Posted on 8/4/14 at 3:24 pm to yellowfin
quote:
I see this a lot and don't think people realize how much it costs to live for 35 years with no income.....just healthcare as you get older for a married couple is going to be outrageous
It all depends on lifestyle and obligation. If you're not globe-trotting and just want to have free time.
If someone is clear on a house note, and has two million right now at fifty, it is certainly feasible that they could live off of the interest of a relatively conservative portfolio and you would earn more than most Americans in doing so.
Posted on 8/4/14 at 3:25 pm to LNCHBOX
quote:
If you suck at negotiating you do.
Negotiation on the interest rate shouldn't be even remotely related to negotiating car price
Posted on 8/4/14 at 3:26 pm to GenesChin
quote:
Negotiation on the interest rate shouldn't be even remotely related to negotiating car price
That's not what I meant. The dealer gives you the usual spiel of "well you get the special APR or the incentive." They try to get you to think you can only get one or the other. Play hardball long enough, and you can get both.
Posted on 8/4/14 at 3:27 pm to The Third Leg
That's 80k....after taxes and health care that doesn't leave very much. It really isn't much in 25 years with inflation
eta: you would have plenty of free time because you wouldn't have money to do anything
eta: you would have plenty of free time because you wouldn't have money to do anything
This post was edited on 8/4/14 at 3:28 pm
Posted on 8/4/14 at 3:29 pm to LNCHBOX
admittedly not as much as you suggested is necessary to retire at 50.... but I owe nothing, have a farm that is mostly row cropped, with a small horse racing operation. I also own quite a bit of commercial real estate including beachfront condos, all paid for
Posted on 8/4/14 at 3:30 pm to LNCHBOX
Posted on 8/4/14 at 3:32 pm to Saints72
quote:
This is what I was referring to
New Toyotas
notice the 0% deals vs the cash back deals
That's what I'm talking about as well. I bought a Toyota for my wife last year, and got 0% and cash incentives after all was said and done.
The salesman wasn't particularly thrilled to make the deal and I didn't get my box of sausage, so I know I did something right. If the salesman is happy, you probably got hosed.
Posted on 8/4/14 at 3:33 pm to mattloc
quote:
I also own quite a bit of commercial real estate including beachfront condos, all paid for
Well this is definitely the same as retiring with no new income.
Posted on 8/4/14 at 3:40 pm to LNCHBOX
I am not rich but I still listen to dave and take some of his advice
Posted on 8/4/14 at 3:41 pm to yellowfin
At five percent you're talking a hundred grand a year, and I think that would be a reasonable expectation. Maybe they pick up part time work for low wages that pay the grocery bill.
If the house is paid, you're talking a fool to think a normal person living an average existence could not live on that fixed income.the median household income is fifty grand. These people in a scenario like this would not fall below the median in their lifetime, unless the nursing home takes the balance before Medicaid kicks in.
Not everyone is driving eighty thousand dollar vehicles and dining out. Some people just don't give a frick.
If the house is paid, you're talking a fool to think a normal person living an average existence could not live on that fixed income.the median household income is fifty grand. These people in a scenario like this would not fall below the median in their lifetime, unless the nursing home takes the balance before Medicaid kicks in.
Not everyone is driving eighty thousand dollar vehicles and dining out. Some people just don't give a frick.
Posted on 8/4/14 at 4:16 pm to yellowfin
quote:
I wouldn't even consider retiring at 50 with less than 5 million
I'd retire at 30 with $5 Million, if it didn't want to work anymore. I doubt I'll have that much anyways.
My parents are semi retired at 63 with probably $1M and 2 paid for houses. They have more than enough with pensions to live without the nest egg.
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