Can I retire yet?

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Hey I encourage everyone to work, we need more people funding SS.
I don’t want to work, I don’t really like it and if I was not paid I definitely would not work.
So when I can retire I am out of here.
I’ve been stashing money back for years so that I can retire. I’m not sure where you guys come up with these 3/5 million dollar portfolios. If your making 120K today then 20 years ago you were not making anywhere near that. How did you come up with 5 million?
I have been diligently putting money back and I’ve got 2 million at 60.
 






anonymous said:
Hey I encourage everyone to work, we need more people funding SS.
I don’t want to work, I don’t really like it and if I was not paid I definitely would not work.
So when I can retire I am out of here.
I’ve been stashing money back for years so that I can retire. I’m not sure where you guys come up with these 3/5 million dollar portfolios. If your making 120K today then 20 years ago you were not making anywhere near that. How did you come up with 5 million?
I have been diligently putting money back and I’ve got 2 million at 60.
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This clown is just pulling your chain.
 






anonymous said:
Hey I encourage everyone to work, we need more people funding SS.
I don’t want to work, I don’t really like it and if I was not paid I definitely would not work.
So when I can retire I am out of here.
I’ve been stashing money back for years so that I can retire. I’m not sure where you guys come up with these 3/5 million dollar portfolios. If your making 120K today then 20 years ago you were not making anywhere near that. How did you come up with 5 million?
I have been diligently putting money back and I’ve got 2 million at 60.
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2M is not nearly enough. Good luck
 


















anonymous said:
Serious responses only. That won’t cut it in states people actually want to live in such as California and New York. Maybe in the backwoods of Mississippi.
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Yes, Yes! You are right! I live in NY and my FA said I need 5 million to retire. He will only charge me 2% fee.
So, I called my dad, and he sent me 5 million from my trust fund, and now, I’m ready to retire.
Thank you for your excellent advice. I’m so happy, I decided to spend a week with my dad at his villa in Rio.
He said he would like to meet you because you are a financial genius. He thought I needed 10 mil. He wants his friends to meet you, too.
Give me a call at 222-333-4545.
 






























anonymous said:
In the words of our great President, WRONG! You’ll be living off the governments tit with that laughable amount.
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What’s wrong with that?
Just like half the population of this country, citizens or not. Doesn’t bother them, won’t bother me. I’ve payed into this government scam, SS, Medicare/ Caid for many years. My turn to cash in, and you can bet your ass I will.
 






anonymous said:
What’s wrong with that?
Just like half the population of this country, citizens or not. Doesn’t bother them, won’t bother me. I’ve payed into this government scam, SS, Medicare/ Caid for many years. My turn to cash in, and you can bet your ass I will.
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Should have “paid” an English tutor. Dumb motherfricker
 






Well you have paid into these “entitlement” programs along with your employer from the time you began working. You have every right to the compensation and you should not feel bad for taking it. The term entitlement does not imply undeserved. It’s our money and we should have the expectation that it’s returned to us.

As for the idiots on this board tossing out numbers, they are simply illuminating their ignorance. How do you propose to tell someone else how much money they need when you know nothing about them. If your attempting to be prepared for any and all possibilities then no amount of money will provide for your salvation. If some catastrophic event occurs then your precious multi million dollar portfolio is would be worthless. How do you get it from Fidelity in that situation? What are you going to do with all your worthless paper?

Truth is if your debt free then you can survive very nicely on very little. If your still supporting your kids and paying 2500.00 month mortgage and purchasing all the trinkets then your going to need lots of money to maintain that lifestyle. The amount you need is simple. Determine what your monthly expenses will be when your retired and work backwards. If you have a 1,000,000 portfolio you can probably manage a. 4% rate of return annually. That 40,000. That’s 3300 a month. At that rate you will never touch your principal so that’s a lifetime of income. Your social security will probably pay you around 1800 and your spouse maybe 600. That’s 5700. If your debt free you should be able to live comfortably from that. Have a LTC policy in the event it’s needed. Consider inflation. If we become Argentina then 10 million is not going to save you. Rule of thumb is to consider a few % points annually and that’s practical however, If your debt free it’s not that impactful. In addition you have a home that is paid for so you always that as an emergency fund potential. If you live in a high property tax state (NJ, NY, Texas) and they don’t have any exemptions for retirees then you will need to consider that in your equation or consider moving.
Again being debt free is critical. If you can control your withdrawal you can control your overall tax liability.
 






anonymous said:
Well you have paid into these “entitlement” programs along with your employer from the time you began working. You have every right to the compensation and you should not feel bad for taking it. The term entitlement does not imply undeserved. It’s our money and we should have the expectation that it’s returned to us.

As for the idiots on this board tossing out numbers, they are simply illuminating their ignorance. How do you propose to tell someone else how much money they need when you know nothing about them. If your attempting to be prepared for any and all possibilities then no amount of money will provide for your salvation. If some catastrophic event occurs then your precious multi million dollar portfolio is would be worthless. How do you get it from Fidelity in that situation? What are you going to do with all your worthless paper?

Truth is if your debt free then you can survive very nicely on very little. If your still supporting your kids and paying 2500.00 month mortgage and purchasing all the trinkets then your going to need lots of money to maintain that lifestyle. The amount you need is simple. Determine what your monthly expenses will be when your retired and work backwards. If you have a 1,000,000 portfolio you can probably manage a. 4% rate of return annually. That 40,000. That’s 3300 a month. At that rate you will never touch your principal so that’s a lifetime of income. Your social security will probably pay you around 1800 and your spouse maybe 600. That’s 5700. If your debt free you should be able to live comfortably from that. Have a LTC policy in the event it’s needed. Consider inflation. If we become Argentina then 10 million is not going to save you. Rule of thumb is to consider a few % points annually and that’s practical however, If your debt free it’s not that impactful. In addition you have a home that is paid for so you always that as an emergency fund potential. If you live in a high property tax state (NJ, NY, Texas) and they don’t have any exemptions for retirees then you will need to consider that in your equation or consider moving.
Again being debt free is critical. If you can control your withdrawal you can control your overall tax liability.
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