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Forum » How many people actually retire?
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Thread: How many people actually retire?

post 1519345191 09-13-2017, 09:16 PM
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dedicate a couple years of your early adulthood to saving/investing and getting compound interest working for you not against you, point is use the time if you have that at your disposal when you are young.
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post 1519345211 09-13-2017, 09:16 PM
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Hoping to be done by 60 . . . it's coming faster than I care to admit. Things are lining up pretty well. House has been paid off for 3 years. Have been maxing out 401k for quite awhile and have done pretty well with savings and investments up until now. Still have 2 kids headed to college in a few years, though. We'll go back to dual income at that point.

I will say that as you get closer to that age, it really starts to grind on you whether you'll have enough to live comfortably. If you would have told me when I was 25 that I would have had the amount saved that I do now, I would have felt pretty good. But now . . . it makes me nervous that it's not enough.

Best advice is to be sure to start saving & investing early and keep it going. Time and compounding interest are pretty powerful. Don't put it off because time really does fly.
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post 1519345341 09-13-2017, 09:18 PM
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Originally Posted By ashin1⏩
dedicate a couple years of your early adulthood to saving/investing and getting compound interest working for you not against you, point is use the time if you have that at your disposal when you are young.
Some of us want to live in an actual home, not in a cheap trailer paid for by our parents surrounded by dirty trailerpark and a bunch of crackheads. You got any advice for that kind lifestyle?
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post 1519345581 09-13-2017, 09:21 PM
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Originally Posted By PisseninMisc⏩
Some of us want to live in an actual home, not in a cheap trailer paid by our parents. You got any advice for that kind lifestyle?
unaware?
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post 1519345701 09-13-2017, 09:23 PM
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hookers are included in my SWR


So I need roughly 2MM
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post 1519345841 09-13-2017, 09:24 PM
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Originally Posted By ashin1⏩
unaware?
Nah you are painfully aware brah.
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post 1519346141 09-13-2017, 09:28 PM
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Originally Posted By PisseninMisc⏩
Nah you are painfully aware brah.
nah, my parent didn't buy me a trailer i bought it myself, get the facts straight.

since we are on facts as well i am curious as to why you never mentioned my facets of passive income and my 6 figure job i landed when i was 22?

Spoiler!
if that helps you cope by all means do you
Spoiler!
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post 1519346381 09-13-2017, 09:32 PM
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The math is pretty simple, and retiring can happen WAY SOONER than most believe is possible if you are just smart with your money. MAX OUT your 401k/IRA/HSA every year, and invest the fuk out of it! You might surprise yourself with how fast you start making investment gains. It's hella fun to be frugal when you know you are trimming literally decades off of your working career.

http://www.mrmoneymustache.com/2012/...ly-retirement/
If you save a reasonable percentage of your take-home pay, like 50%, and live on the remaining 50%, you’ll be Ready to Rock (aka “financially independent”) in a reasonable number of years – about 16 according to this chart and a more detailed spreadsheet* I just made for myself to re-create the equation that generated the graph.
post 1519346511 09-13-2017, 09:35 PM
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Originally Posted By wesleysh21⏩
My dad is 100% retired, doesn't do a single thing as a side hustle like he always said he would do. He's got a pension from a factory, back when a pension was a thing. When he dies, my mom will get that pension...theoretically. My mom is semi-retired. She simply can't put away the side hustles. My dad was scheduled for full retirement at one point, but he was so scared of what was next that he hung on for another 3 years. I think its funny because I LOVE months with an extra week, it means an extra paycheck, but my bills are based on months. But his retirement benefits are based on months, so any month with an extra week just means a week of extra expenses with the same pay.

Having tons of discussions with older co-workers and associates about retirement, I can definitely tell you one thing should be front and center in your mind. House, house, house, house, house. If you can set yourself up in a situation where your house is paid off, you have enough equity in your home to quickly trade down and have a paid off house, or any other scenerio you can think of where you are not paying a typical housing expense...that's going to be a game changer for most people. If you can eliminate a housing expense, retirement might not be that bad. If you still owe on the house, retirement might not happen for you.
but who was property tax? right now on like a $300k house its like $10k a years. so thats basically a $1k a month mortage payment on its own, plus you gott pay upkeep and repairs. the taxes will only rise. so in 25 years it will be like 25k a year prop tax lol.
Originally Posted By HMFIC_BROWSIN⏩
The math is pretty simple, and retiring can happen WAY SOONER than most believe is possible if you are just smart with your money. MAX OUT your 401k/IRA/HSA every year, and invest the fuk out of it! You might surprise yourself with how fast you start making investment gains. It's hella fun to be frugal when you know you are trimming literally decades off of your working career.

http://www.mrmoneymustache.com/2012/...ly-retirement/
lmao most people nowadays cant even move out, even if they spend 100% of take home pay on moving out, let alone save a whopping 50% lol.

its easy to talk about retiring when you make acceptable money. sadly the economy and companies are not reasonable for majority of people.
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post 1519346981 09-13-2017, 09:40 PM
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Originally Posted By BrahPlease⏩
lmao most people nowadays cant even move out, even if they spend 100% of take home pay on moving out, let alone save a whopping 50% lol.

its easy to talk about retiring when you make acceptable money. sadly the economy and companies are not reasonable for majority of people.
That's because people are losers who make bad choices. living on 50% of your income if you earn $50k after tax, that's fuking $25k/year, or $2k/mn. $2k/mn is baller status if you don't have kids, buy your car with cash, have a roommate, etc etc. Buy groceries instead of chipotle every day.

There's a million ways Americans bleed money. I LOL so hard when someone earning $90k talks about having no money for anything, yet lives in a big ass house with a financed car LMAO.

You still have free will, stop getting cucked by advertising/financing options.
post 1519347231 09-13-2017, 09:43 PM
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Cliffs on retirement:

You HAVE to do it yourself. You have no choice.

If you have nothing compounding when you're young, due to inflation outpacing wages etc you're going to be a wal mart greeter when you're 70.

Start at age 18 (I know most are not going to do this but it's still the way it should be done) and put $50 or $100 a month away or whatever you can afford. Then when your income allows add more. The more you sacrifice when you're young, the better off you'll be.

I agree with what one guy said up there though ^^. There's a very very fine line between enjoying your youth and having a luxurious retirement.

I'd rather retire on 50k a year and had a blast throughout my life than a 6 figure retirement but did jack **** when I was young.
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post 1519347251 09-13-2017, 09:43 PM
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Originally Posted By HMFIC_BROWSIN⏩
That's because people are losers who make bad choices. living on 50% of your income if you earn $50k after tax, that's fuking $25k/year, or $2k/mn. $2k/mn is baller status if you don't have kids, buy your car with cash, have a roommate, etc etc. Buy groceries instead of chipotle every day.

There's a million ways Americans bleed money. I LOL so hard when someone earning $90k talks about having no money for anything, yet lives in a big ass house with a financed car LMAO.

You still have free will, stop getting cucked by advertising/financing options.
Not everyone lives in the middle of the desert and has access to cheap housing.
post 1519347491 09-13-2017, 09:46 PM
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Originally Posted By ErnieMccracken⏩
Not everyone lives in the middle of the desert and has access to cheap housing.
You can move.
post 1519347771 09-13-2017, 09:51 PM
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Originally Posted By HMFIC_BROWSIN⏩
That's because people are losers who make bad choices. living on 50% of your income if you earn $50k after tax, that's fuking $25k/year, or $2k/mn. $2k/mn is baller status if you don't have kids, buy your car with cash, have a roommate, etc etc. Buy groceries instead of chipotle every day.

There's a million ways Americans bleed money. I LOL so hard when someone earning $90k talks about having no money for anything, yet lives in a big ass house with a financed car LMAO.

You still have free will, stop getting cucked by advertising/financing options.
you are aware most people dont make even 50k... like i said, its easy to talk when you have money. tell that to the chitload of hard working 20-30 year olds who make like $10 an hour... and yes, they have education and apply to chitloads of jobs.

their simply arent enough good paying jobs for everyone, not even close. and its only getting worse.
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post 1519347951 09-13-2017, 09:54 PM
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Originally Posted By ErnieMccracken⏩
This is the old way of thinking, which I used to preach. The times of changed, though. Spending 25% of your take home on a mortgage, having a year worth of living expenses, dumping 20% into the stock market with blind faith that it will grow, etc. just isn't realistic anymore for most people. The median home in my area is $800k and the median income is $55k. Do the math. The cost of living is too high, wall st is a fukkin scam, and job security is a joke. You are gone the second they find some peasant to do your job for $20 less.

The ONLY way out for most people is to dramatically increase income to the point where it outpaces the cost of living.
Ok, so move someplace reasonable. You can buy a 1400 SQ foot cabin in AZ for $89k. Yes, $89k USD.

Boohoo, I can't live in the bay area!!!!! Fuk off.
post 1519348151 09-13-2017, 09:56 PM
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people havent gotten lazier or stupid, its just a fact retirement is becoming less and less due to chitty economy/jobs. doesnt take a genius to see that.
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post 1519348181 09-13-2017, 09:57 PM
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Originally Posted By BrahPlease⏩
you are aware most people dont make even 50k... like i said, its easy to talk when you have money. tell that to the chitload of hard working 20-30 year olds who make like $10 an hour... and yes, they have education and apply to chitloads of jobs.

their simply arent enough good paying jobs for everyone, not even close. and its only getting worse.
Ok, I see job applications literally with spelling errors and not a single coherent sentence.

Maybe these millennials don't have jobs because they're stupid! Fukin lol. Oh yeah, a degree doesn't buy a personality (the most important feature for navigating professional life)
post 1519348671 09-13-2017, 10:03 PM
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Originally Posted By TugOfPeace⏩
well when you consider that most people dont study STEM, of course there arent any jobs

My industry is literally starving for talent.. electrical engineering
This!!!!!

Right now in 2017 it's actually hard to hire because there isn't anyone applying for these jobs. Even basic jobs like drivers or salesmen are few and far between. The skills kids developed sitting on ******** all day have not converted to basic real life talent for income.
post 1519348681 09-13-2017, 10:03 PM
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Originally Posted By HMFIC_BROWSIN⏩
Ok, I see job applications literally with spelling errors and not a single coherent sentence.

Maybe these millennials don't have jobs because they're stupid! Fukin lol. Oh yeah, a degree doesn't buy a personality (the most important feature for navigating professional life)
Anecdotal evidence and cope

Originally Posted By TugOfPeace⏩
well when you consider that most people dont study STEM, of course there arent any jobs

My industry is literally starving for talent.. electrical engineering
well why arent those jobs advertising? all im seeing are $9/hour no benefit part time jobs. post the damn jobs. thats what im saying, these companies are so stupid they want a kid with a masters and 25 years experience, if he even finds the damn job to apply to.
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post 1519352641 09-13-2017, 10:53 PM
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Originally Posted By ErnieMccracken⏩
This is the old way of thinking, which I used to preach. The times of changed, though. Spending 25% of your take home on a mortgage, having a year worth of living expenses, dumping 20% into the stock market with blind faith that it will grow, etc. just isn't realistic anymore for most people. The median home in my area is $800k and the median income is $55k. Do the math. The cost of living is too high, wall st is a fukkin scam, and job security is a joke. You are gone the second they find some peasant to do your job for $20 less.

The ONLY way out for most people is to dramatically increase income to the point where it outpaces the cost of living.
That, or move? Homes do not cost $800k everywhere, and you can make $55k a year almost anywhere.
post 1519352681 09-13-2017, 10:54 PM
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I'll probably be able to retire by 40-45 but I'll keep going with something, investments, my own gym, etc. to keep me going
post 1519355471 09-13-2017, 11:36 PM
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Originally Posted By PisseninMisc⏩
lol brah let's not pretend like most of the peasants ITT have the income or discipline to set aside 500 a month let alone 1k. If you can work your way to that point in 2017 there is no reason why you cant do much better.
I save more than 1k a month brah, u mad?
post 1519356041 09-13-2017, 11:44 PM
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Most people retire because they can no longer work. Most of them aren't financially ready.
post 1519356811 09-13-2017, 11:58 PM
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lol at retiring when i can be not natty and work like i'm 20 at 80
post 1519357091 09-14-2017, 12:05 AM
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I can see a disrupt in ssn retire benefits in 20-30 years.

Most millennials still would have debt that can take away from those monthly checks.
:/
post 1519357771 09-14-2017, 12:19 AM
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1.5 million? How long is that supposed to last? From what age to what age?
post 1519357901 09-14-2017, 12:21 AM
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Originally Posted By Godfrd824⏩
If you start with $1000 at 30 years old and save $1000 per month for 30 years, you'll have $1.3 million by your 60s.
No.
1,000x12=$12,000x30=$360,000. And that's before adjusting for the rate of inflation. If the fiat currency system doesn't completely collapse by then we can assume that $360,000 will have the spending power of about $100,000 or less.
Now if you INVEST $1,000 a month the right way you could potentially have much more than 1.3 million after 30 years, or you could lose it all depending your skills.
post 1519358291 09-14-2017, 12:28 AM
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Originally Posted By PisseninMisc⏩
Retirement ALONE can't be the goal either. You have to live your life, drive that car, fuk that hole, eat the best, go where you want when you're 30 to enjoy life. LOL at waiting till you're 55 to do all of the above.

The truth is you're cucked either way unless you can see beyond these games. What is the point of retirement anyway? How many of the professionals ITT know people who retired and then came back as consultants because they were bored at home?

Open your mind guys, look at the bigger picture.
QFT

Not taking it too far in either extreme of course, but lol if you work hard hustle hard deprive yourself of luxuries memories experiences and voyages in your youth so you can have an easier last few decades of life.

Rather enjoy life now in my prime, set aside something for the future ofc but if a bus hits me tomorrow then what will it all have been for?
We're all gonna make it.
post 1519358431 09-14-2017, 12:30 AM
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Originally Posted By jonnicola⏩
QFT

Not taking it too far in either extreme of course, but lol if you work hard hustle hard deprive yourself of luxuries memories experiences and voyages in your youth so you can have an easier last few decades of life.

Rather enjoy life now in my prime, set aside something for the future ofc butif a bus hits me tomorrow then what will it all have been for?
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post 1519369391 09-14-2017, 05:53 AM
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[QUOTE=ashin1 post_id=1519346141]nah, my parent didn't buy me a trailer i bought it myself, get the facts straight.

since we are on facts as well i am curious as to why you never mentioned my facets of passive income and my 6 figure job i landed when i was 22?

[spoiler]if that helps you cope by all means do you
[spoiler][img]https://ugc.kn3.net/i/760x/https://media.giphy.com/media/DgfW4r4tJ8SYM/giphy.gif[/img[/spoiler[/spoiler[/QUOTE]Lol oh so you WERE aware weren't you *******? No need to be embarrassed bro i was only kidding (mostly).

You were making what 72CAD (about 60k usd) and you're a nurse. Not much to write home about. And we have all read your cringy threads on drips. Get off your high horse kiddo there is bigger world out there than your trailer park and penny stocks.

[QUOTE=headturner1 post_id=1519355471]I save more than 1k a month brah, u mad?[/QUOTE]No I'm proud of you, srs.
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