Can I retire yet?

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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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Stick to the original topic at hand...3M or 5M?
 






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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Totally agree. No one who has worked as a rep for their life has earned enough to be able to support a family and put away 3 to 5 million, so that guy is a lying troll. I think paying off the house and getting rid of all debt makes things much more doable. I will have maybe 800K and a pension when I retire at 54. Hose will be paid off with no debt. No worries here.
 


















anonymous said:
Totally agree. No one who has worked as a rep for their life has earned enough to be able to support a family and put away 3 to 5 million, so that guy is a lying troll. I think paying off the house and getting rid of all debt makes things much more doable. I will have maybe 800K and a pension when I retire at 54. Hose will be paid off with no debt. No worries here.
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Not enough to retire on. 54 is TOO early.
 


















anonymous said:
Retirement isn't about age but about financial situation. I have a government pension worth well over 2 million all by itself, not counting a paid off house and 800K in investments. So you are wrong.
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Yes, you government workers have it soooooo good when you retire. However, it's at taxpayer expense. That's why states with great pension benefits for their government employees are going broke. Illinois & NJ are the best example. In the meantime, most people in the private sector get no pension at all. Just a small amount of social security. Why don't you keep your bragging to yourself.
 






anonymous said:
Yes, you government workers have it soooooo good when you retire. However, it's at taxpayer expense. That's why states with great pension benefits for their government employees are going broke. Illinois & NJ are the best example. In the meantime, most people in the private sector get no pension at all. Just a small amount of social security. Why don't you keep your bragging to yourself.
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As scumbag pelosi states it is just crumbs
 






anonymous said:
Yes, you government workers have it soooooo good when you retire. However, it's at taxpayer expense. That's why states with great pension benefits for their government employees are going broke. Illinois & NJ are the best example. In the meantime, most people in the private sector get no pension at all. Just a small amount of social security. Why don't you keep your bragging to yourself.
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Agreed! One day the state pensions will also go away as have the profit making companies, pensions today.
 




































Well none of this matters. A blue wave is coming and it will swallow the Trumpet. Democrats will return to control and win the next presidential election. These silly tax cuts will be replaced. A new Bernie Sanders style economic system will then begin to replace this crazed greedy capitalist system. When the new tax plan is unveiled you will see the wealthy top begin paying 50% in taxes to pay for Medicare and social security. Once the wealthy realize (that’s you 3/5 million guy) that anything over 175K is taxed at over 50%, 77/175K 40%—-no deductions, your greed will subside. We will then have the resources so we can move to a single payer system with guaranteed health care and free college. We will use your 3/5 million to pay for it. We will transform this society and therefor your high retirement needs will be irrelevant. I know you don’t believe me and your soaking up the Fox new propaganda but it is happening. Look at the voting preferences of those under 35, it’s not in favor of the republicans. The democrats already had a several million vote victory in the general election. In a few short years the population trends will overwhelm the narrow republican advantage with the electoral college. This will usher in European style socialism championed by people like Sanders. It’s happening and I’m going to love collecting some of your 3/5 million while I sit on my rear end. Thanks you.
 






anonymous said:
Well none of this matters. A blue wave is coming and it will swallow the Trumpet. Democrats will return to control and win the next presidential election. These silly tax cuts will be replaced. A new Bernie Sanders style economic system will then begin to replace this crazed greedy capitalist system. When the new tax plan is unveiled you will see the wealthy top begin paying 50% in taxes to pay for Medicare and social security. Once the wealthy realize (that’s you 3/5 million guy) that anything over 175K is taxed at over 50%, 77/175K 40%—-no deductions, your greed will subside. We will then have the resources so we can move to a single payer system with guaranteed health care and free college. We will use your 3/5 million to pay for it. We will transform this society and therefor your high retirement needs will be irrelevant. I know you don’t believe me and your soaking up the Fox new propaganda but it is happening. Look at the voting preferences of those under 35, it’s not in favor of the republicans. The democrats already had a several million vote victory in the general election. In a few short years the population trends will overwhelm the narrow republican advantage with the electoral college. This will usher in European style socialism championed by people like Sanders. It’s happening and I’m going to love collecting some of your 3/5 million while I sit on my rear end. Thanks you.
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Socialism is immoral and a proven failed system. Bernie is old and a commy. Bernie will never be president. Trump will get re-elected and then 8 more years with Pence. The dems screwed the pooch. Time to embrace the future, snowflake.
 






anonymous said:
Well none of this matters. A blue wave is coming and it will swallow the Trumpet. Democrats will return to control and win the next presidential election. These silly tax cuts will be replaced. A new Bernie Sanders style economic system will then begin to replace this crazed greedy capitalist system. When the new tax plan is unveiled you will see the wealthy top begin paying 50% in taxes to pay for Medicare and social security. Once the wealthy realize (that’s you 3/5 million guy) that anything over 175K is taxed at over 50%, 77/175K 40%—-no deductions, your greed will subside. We will then have the resources so we can move to a single payer system with guaranteed health care and free college. We will use your 3/5 million to pay for it. We will transform this society and therefor your high retirement needs will be irrelevant. I know you don’t believe me and your soaking up the Fox new propaganda but it is happening. Look at the voting preferences of those under 35, it’s not in favor of the republicans. The democrats already had a several million vote victory in the general election. In a few short years the population trends will overwhelm the narrow republican advantage with the electoral college. This will usher in European style socialism championed by people like Sanders. It’s happening and I’m going to love collecting some of your 3/5 million while I sit on my rear end. Thanks you.
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Well said. I reluctantly agree. The above is exactly why I’m enjoying my money now because I have nothing to fear regardless of what happens. There will be my SS, Welfare, Medicaid, etc. to get me from 80 to 90 (if I get there), in case I actually use all my money. Most is being spent on my kids, I have all I need and my wants are easily attainable at minimal cost.
I despise the Democrats and all they “stand” for. The only thing that really pisses me off is that they will be the ruling elite and we will be their underlings, getting the few “crumbs”they decide to bestow upon us.
 






anonymous said:
Socialism is immoral and a proven failed system. Bernie is old and a commy. Bernie will never be president. Trump will get re-elected and then 8 more years with Pence. The dems screwed the pooch. Time to embrace the future, snowflake.
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Trouble is, the snowflakes, millennials and illegal immigrants will be the voting majority that will put the liberal, corrupt, lying, scheming, selfish, career politicians in power to rule all with their tyrannical socialism designed to keep us controlled, completely subservient, dependent and to enrich their wealth.
 






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