How Much Do You Need To Retire?

[Shane Deubell]

How much money do you need to retire? not including your home value or vacation type.

I used to think growing up $1 million in performing assets and it is off to a life of luxury...
Now i am thinking that is the min., for someone that does not have a pension or military benefit.

 

[Desk Jockey]

Retire? This is it, I can't afford to retire.

Besides most people retire just to get a part time job.

That's why this gig works so well, since I only work part of the time. eat shit!

 

[Jim Martin]

more wife and less money.....not exactly on the top of my list.....

 

[Desk Jockey]

 

[Vivers]

How much money do you need to retire? not including your home value or vacation type.

I used to think growing up $1 million in performing assets and it is off to a life of luxury...
Now i am thinking that is the min., for someone that does not have a pension or military benefit.

I'm thinking $1 million would do us fine with all the other assets we have. I can always keep the company running and take a cut, yet be a silent partner. Not really sure I want to ever completely retire as it sounds boring after awhile, lots of people just die shortly after, etc.. I think I always will always be involved in owning and operating a business.

 

[jcooper]

more wife and less money.....not exactly on the top of my list.....

loooool!

 

[ACE]

So, your saying you need to save to retire?

Great, one more thing to pay for after climing up to the lower middle class

It may not be an issue if I work myself to death :!:

 

[GeneMiller]

nunthing Obama will take care of you. He's got Robin Hood syndrome

gene

 

[bob vawter]

when yor used to comin' in wit $400 to $600 in yor pocket every day......
REtirment sucks ....
BUT sleppin' in till NOON more than makes up for it

 

[Brian R]

I plan to keep making money after I retire. It's all about setting up systems that continue to generate revenue.

Start setting them up now and do well later.

Saving money is Okay... Making money is better.

:idea:

 

[Dmreed4311]

When I retire at 65 I should have close to 3 million to live off and a payed for home, The last couple of years has been a little depressing seeing my retirement funds going south but i keep putting in the same 500 a month i have been doing all my adult life and i guess I get more units so when the market goes up I will be back up instead of losing ground.

Retirement for me will be still running a business but not on the truck and lots of traveling.
That is 21 years from now so who knows if i will evern be alive.

 

[Desk Jockey]

I retired years ago, I just haven't told them yet. eat shit!

BUT sleppin' in till NOON more than makes up for it

Yea but how many times have you wet the bed. eat yor heart out Werner

 

[bob vawter]

Are we under oath here...?

 

[Desk Jockey]

ummm the was just a joke........I don't really want to know what's going to happen as I get older. eat yor heart out Werner

 

[FB7777]

Good article on the psychology of feeling wealthy http://www.cnbc.com/id/48240956/What_Do ... el_Wealthy

My number is $5 million

 

[Desk Jockey]

F-I-V-E Million? Would you adopt me? LIKE!

 

[joe harper]

I am Retired.... LIKE!

I have a different take on retirement than most... :idea:

Conventional retirement planning is simply ludicrous to me.. yes, I really clean up pet shit for a living Dad..

Why would anyone want to work all their life to accumulate wealth ?
It really is a flawed system. A person dedicates the best years of their life
to leave it to their children or wife to PISS away.

I have chosen to teach my children to be sucessful on their OWN. I gave my x-wife
not half ..BUT.. 100% of assets 12 years ago. I chose to retire NOW while my health
is good & I can enjoy the time off.

I have plenty of time to go back to work.."if need be".. when I am old.. LIKE!
I work with my mind ...not my hands.! I can run any business from an office chair.
No difference, than sitting in a lazy boy watching GUNSMOKE at 70 years old.

Our TAX system does NOT reward the hard worker...You are just supporting the
lazy entitlement society. You will be taxed on everything you save. Plus any thing
left will be hit with a death tax. KMA!

Most here will be fortunate to work their entire career in this biz & have 50k in the bank.
One serious illness will wipe that out in 6 months. If you have 500k...that is just enough
to NOT allow you to qualify for any government assistance. So to stay alive..you have to
GIVE that money away....to receive the assistance to keep your ASS alive.. KMA!

RETIREMENT...is a state of mind.. :!: NOT a financial PLAN... :idea:

Simply put:::: Work your business to a pay you a SALARY..to support the standard of living you desire..."WITHOUT YOU HAVING TO GO TO WORK" it isn't rocket science... yes, I really clean up pet shit for a living Dad..

............................"IT IS NOT WHAT YOU MAKE...IT IS WHAT YOU KEEP"....................

 

[joe harper]

I am Retired.... LIKE!

I have a different take on retirement than most... :idea:

Conventional retirement planning is simply ludicrous to me.. yes, I really clean up pet shit for a living Dad..

Why would anyone want to work all their life to accumulate wealth ?
It really is a flawed system. A person dedicates the best years of their life
to leave it to their children or wife to PISS away.

I have chosen to teach my children to be sucessful on their OWN. I gave my x-wife
not half ..BUT.. 100% of assets 12 years ago. I chose to retire NOW while my health
is good & I can enjoy the time off.

I have plenty of time to go back to work.."if need be".. when I am old.. LIKE!
I work with my mind ...not my hands.! I can run any business from an office chair.
No difference, than sitting in a lazy boy watching GUNSMOKE at 70 years old.

Our TAX system does NOT reward the hard worker...You are just supporting the
lazy entitlement society. You will be taxed on everything you save. Plus any thing
left will be hit with a death tax. KMA!

Most here will be fortunate to work their entire career in this biz & have 50k in the bank.
One serious illness will wipe that out in 6 months. If you have 500k...that is just enough
to NOT allow you to qualify for any government assistance. So to stay alive..you have to
GIVE that money away....to receive the assistance to keep your ASS alive.. KMA!

RETIREMENT...is a state of mind.. :!: NOT a financial PLAN... :idea:

Simply put:::: Work your business to a pay you a SALARY..to support the standard of living you desire..."WITHOUT YOU HAVING TO GO TO WORK" it isn't rocket science... yes, I really clean up pet shit for a living Dad..

............................"IT IS NOT WHAT YOU MAKE...IT IS WHAT YOU KEEP"....................

 

[joe harper]

I am retired...sooooo I had time to post this TWICE..&...LaUgh about it... J/K

ps...It is so huMoRuS to me, to listen to f'n carpet cleaners..offering stock & investment
ADVICE..."It would make a FANTASTIC...Holiday Inn Express....commercial." KMA!

 

[Desk Jockey]

My father inlaw had good job, scrimped and saved put tons away for his retirement, bought stock in the company when they offered matching shares. Had good little nest egg.

He retired, was bored but didn't want the pressure of having to show up to a part time job. Visited my kids daily but other than that he hung around his modest home. He had a stroke a year after retiring and lived another three years after the stroke.

Never enjoyed his retirement, never spent much of the money he worked so hard to earn. All of his co-workers dove new fancy cars and live in big nice homes but instead of doing as they had done he did the opposite and lived a meager existence. He drove a 1972 Pinto, lived in a nice but older and small home, rarely bought anything new.

There needs to be a balance. Joe is one smart ole dog, enjoy yourself while you're healthy enough to do so. LIKE!

Me? I'm planning on hanging out with my good buddy Fred Boyle. Fred how about adding a room on to your home, just incase I stay a while. I've seen Jimmy naked

 

[joe harper]

Richard,
Sadly this is the "norm" for most of America.. -sniff My mother has done the same thing.
She work all her life for Duke Power & Tampa electric Company. Great benefits & profit
sharing programs. Wonderful retirement portfolio...!

BAM...2 years after retirement ...depression and poor health set in..! The biggest CURSE
was she had excellent HEALTH INSURANCE.. :!: She was never sick a day in her live....
until the medical profession got a hold of her. "DOCTORS WILL KILL YOU..WITH MIS-DIAGNOSIS and MEDICATION... would the real rob allen please stand up?
Thank God she is better NOW..!

I have watched whole generation of wealth be PISSED away on drugs & spoiled BRATT'S KMA!
I believe in distributing wealth in increments & along a time + maturity basis... :idea: This
will allow the parent to guide and monitor the child's progress.
"If you are gone..?..there is no one to STEADY THE SHIP.. :idea:

I am also a FIRM believer in a child maintaining a FULL TIME job for at least ONE year before
sending them to college to PARTY... would the real rob allen please stand up?

To each there own.... hey now

Some people ...CAN NOT... retire, they are married to their JOBS..They simply can not
function without their "Lifetime Mate"... :idea:
Retirement is a DEATH SENTANCE for them... -sniff

 

[Shane Deubell]

I think you have some valid points Joe

Personally do not put that much money into tax protected "retirement" accounts but do put money on side every month for investments. Last couple years put it back in the business but end of this year focused on buying another rental property. Every year it is different.

 

[ACE]

The Damn Greedy Baby Boomers (worst generation our country’s history) Have destroyed our financial system and will piss way all the wealth they have accumulated on heath care as they age.

 

[Willy P]

I'm just pissing every penny away as fast as I can. Die broke.

 

[Brian R]

Simply put:::: Work your business to a pay you a SALARY..to support the standard of living you desire..."WITHOUT YOU HAVING TO GO TO WORK" it isn't rocket science... yes, I really clean up pet shit for a living Dad..

............................"IT IS NOT WHAT YOU MAKE...IT IS WHAT YOU KEEP"....................

I live by that.

 

[mcatt]

A body in motion stays in motion! I definitly don't want to sit and watch tv and rot away. I want to continue to be involved in some form or another in business management. I really like what I do. So that being said a mill or two will do just fine to travel on and purchase whatever we want.

 

[Ed]

I am retired...sooooo I had time to post this TWICE..&...LaUgh about it... J/K

ps...It is so huMoRuS to me, to listen to f'n carpet cleaners..offering stock & investment
ADVICE..."It would make a FANTASTIC...Holiday Inn Express....commercial." KMA!

How true. It still baffles me why law firms, hospitals and NASA go to colleges to look for talent.....They should come to the cleaning industry 1st

 

[Shane Deubell]

I meant the question in the abstract, not seeking or giving technical financial advice.

Probably could have phrased it better or differently

Do you put aside a certain % of revenue or profits every year for investments?
What is a lot 5%? 10% what is your opinion.

I find it interesting just like some people find 8,000 posts about pre-sprays interesting.

 

[Greg Cole]

How much money do you need to retire? not including your home value or vacation type.

I used to think growing up $1 million in performing assets and it is off to a life of luxury...
Now i am thinking that is the min., for someone that does not have a pension or military benefit.

It's all relevant to how you want to live you life in your retirement.
I live way below my means now so that i can live way above them when I retire.
Yourself?

 

[Shane Deubell]

How much money do you need to retire? not including your home value or vacation type.

I used to think growing up $1 million in performing assets and it is off to a life of luxury...
Now i am thinking that is the min., for someone that does not have a pension or military benefit.

It's all relevant to how you want to live you life in your retirement.
I live way below my means now so that i can live way above them when I retire.
Yourself?

Same, way below. Would rather have cash or own something then drive a sports car for example.