Retirement

[bogey]

Do you old folks have a retirement plan in place? How much money will you have saved for your retirement? I'm 60 and it's weighing on my mind. I'm wondering if I'm going to have enough retirement $ saved up.

[DaneMcCloud]

Originally Posted by Iowanian

I'd like to retire someday, but I'll probably work until noon on the day of my funeral.

#MeToo

[cooper barrett]

You are so full of ****ing shit,You're the guy who sold Wal-mart stock to buy a lawn tractor.

Real fact if you invested a one time investment of 10% of your salary in 1965 in Berkshire-Hathaway and never touched it that one investment would be worth today an paltry AKA chicken scratch, amount of $10.4M. with no dividend payments

If you invested just $1600.in Walmart (100 shares) in 1970, todays value after splits would be about $12.4M with an annual dividend of over $400k.

In 1980 an investment of less than $1K (24 shares) in Kimberly Clark would be worth $1M today and $3.88 dividend on 886 shares ($3500).

All of these investments are not out of reach on the average school teachers salary, even in 1965.


I think you can see that putting your savings in Cap Fed and earing 6.5% is going to have you eating out of a soup kitchen when you get old, but investing in dividend growth stocks will have you eating caviar with Robin Leach on your own yacht without touching your investment...

Go ahead. School me, I gotz 2 knwz!.

Originally Posted by Fat Elvis

I don't think you understand how compound interest works. Lets go ahead and assume that your data is correct and that the average wage in 1965 was $6,900. An average person would still have to save 72.5% of their income in 1965 to make a $5,000 annual contribution to their retirement account hoping to get a 6.5% return on their money over 45 years to get the $1.4M for retirement. I'm willing to bet just about any amount of money that next to no people saved 72.5% of their income and put it towards retirement.

It is simple math. And if you can't do the math, just google "compound interest calculator" and plug the numbers in for yourself.

You also state that $6,900 in 1965 is the equivalent of ~$53,600 today. By that measure, if you are wanting the same purchasing power of $1.4M today 45 years from now, you need to be saving $38,753 every year for 45 years at a 6.5% annual compounded return. I really doubt a whole lot of Americans are doing that today (and I am pretty sure you aren't socking away that much money for retirement per year).

[Buehler445]

Originally Posted by ThaVirus

Objectively speaking, yes. Without kids you'd have a shit ton more money and freedom with a lot less stress.

You are understating what you don't know.

Playing with kids can be a big stress reliever. Just the other day I had a ****ing shitterrible day and picked up my 3 week old and all that bullshit melted away. Quite frankly I work far fewer hours and peel myself off the tractor or out of the office because I have kids at home rather than when I was just married.

On the financial side, you're just assuming I'd remove expenses. But I blow a lot less money and save far more because I'm more responsible (whether or not that is correlation to or causation from children, who knows). I'm also far more aggressive in my career because I'm not just in it for me.

You're making grand assumptions on simple math of removing kids, but you give no credit to the utility gained from having kids.

Believe me, I was in your position once. I'm not really a kid guy. My sister has a bunch of kids and did nothing but complain about them (she's a ****). I've never really related with any other kids, I don't do illogical behavior. Not big on poop or puke. The simple truth, though, is that my life is infinitely better with kids than it was without. Argue causation/correlation all you want but there is too much evidence to prove otherwise.

And your math is wonky on the stress and financial business. You're trying to quantify what you can't measure.

[cooper barrett]

Originally Posted by Fat Elvis

FWIW, here is where I got the data that said that the average income in 1965 was less than $5,000....

https://en.wikipedia.org/wiki/Averag...nthly_Earnings

My source listed.

[Buehler445]

Originally Posted by Iowanian

I'd like to retire someday, but I'll probably work until noon on the day of my funeral.

I'll probably be late to mine trying to get that last quarter sprayed.

[AssEaterChief]

Originally Posted by Buehler445

You are understating what you don't know.

It is ironic that you say that because your oldest kid is 4 years old right?

Get back to us in 14 years Pops

You are in the "golden age" of having kids… you have a long way to go

[Buehler445]

Originally Posted by AssEaterChief

It is ironic that you say that because your oldest kid is 4 years old right?

Get back to us in 14 years Pops

You are in the "golden age" of having kids… you have a long way to go

K.

[Prison Bitch]

Originally Posted by AssEaterChief

So you don't think the world is over populated?

I couldn't care less what goes on in 3rd world nations since that's their problem, but that has absolutley nothing to do with my point about some dude worrying about cyber bullying

[Bugeater]

Originally Posted by Buehler445

You are understating what you don't know.

Playing with kids can be a big stress reliever. Just the other day I had a ****ing shitterrible day and picked up my 3 week old and all that bullshit melted away. Quite frankly I work far fewer hours and peel myself off the tractor or out of the office because I have kids at home rather than when I was just married.

On the financial side, you're just assuming I'd remove expenses. But I blow a lot less money and save far more because I'm more responsible (whether or not that is correlation to or causation from children, who knows). I'm also far more aggressive in my career because I'm not just in it for me.

You're making grand assumptions on simple math of removing kids, but you give no credit to the utility gained from having kids.

Believe me, I was in your position once. I'm not really a kid guy. My sister has a bunch of kids and did nothing but complain about them (she's a ****). I've never really related with any other kids, I don't do illogical behavior. Not big on poop or puke. The simple truth, though, is that my life is infinitely better with kids than it was without. Argue causation/correlation all you want but there is too much evidence to prove otherwise.

And your math is wonky on the stress and financial business. You're trying to quantify what you can't measure.

I didn't even know you had kid(s?). You kept that secret very well. We only had the one and I am glad we stopped there, even though we didn't have a much of choice with all the complications the Mrs had when she was pregnant. While I enjoyed many parts of the experience, I could never have handled having a houseful of them.

And don't listen to ass eater, the years go by fast.

[SAUTO]

Originally Posted by cooper barrett

You are so full of ****ing shit,You're the guy who sold Wal-mart stock to buy a lawn tractor.

Real fact if you invested a one time investment of 10% of your salary in 1965 in Berkshire-Hathaway and never touched it that one investment would be worth today an poultry amount of $10.4M. with no dividend payments

If you invested just $1600.in Walmart (100 shares) in 1970, todays value after splits would be about $12.4M with an annual dividend of over $400k.

In 1980 an investment of less than $1K (24 shares) in Kimberly Clark would be worth $1M today and $3.88 dividend on 886 shares ($3500).

All of these investments are not out of reach on the average school teachers salary, even in 1965.


I think you can see that putting your savings in Cap Fed and earing 6.5% is going to have you eating out of a soup kitchen when you get old, but investing in dividend growth stocks will have you eating caviar with Robin Leach on your own yacht without touching your investment...

Go ahead. School me, I gotz 2 knwz!.

would that be the same as chicken money? What's that worth these days?

[SAUTO]

Originally Posted by AssEaterChief

It is ironic that you say that because your oldest kid is 4 years old right?

Get back to us in 14 years Pops

You are in the "golden age" of having kids… you have a long way to go

Mine are 21, 16, 12 and 5.


They are all a blast. Always have been.

[Rain Man]

I once worked with a guy whose father was a CEO of a large company. This guy was required to work until he was 40, and he did that. He was a good coworker. He then retired when he turned 40 and just does fun stuff now.

Being born into a rich family has distinct advantages.

[New World Order]

When I was in my early 20's I put in 5k at a brokerage firm and I try to put in 750 per month. I've averaged 6-7% rot.

If all goes as planned I'd like to retire in my mid-to-late 50's.

[cooper barrett]

Originally Posted by SAUTO

would that be the same as chicken money? What's that worth these days?

Chicken scratch.

[BigRedChief]

Originally Posted by Rain Man

I once worked with a guy whose father was a CEO of a large company. This guy was required to work until he was 40, and he did that. He was a good coworker. He then retired when he turned 40 and just does fun stuff now.

Being born into a rich family has distinct advantages.

l had a chance to be rich but I was so poor we couldn’t gamble.

I got started in tech early. There wasn’t a consensus yet that .com was going to be the main domain. Most of the domains were still available. La, NY, all the states, furniture.com, music, movies, shopping.com were all there. It cost $75 to register a domain back then. To cover all the main ones, I’d been out $250 on each domain. I advocated for borrowing the money but the wife overruled me. I give her crap about it all the time.

Obviously, should have put it on credit cards, borrowed it from someone etc. but, my focus was on this new family, changing careers and not pursuing money. Young and dumb like many.