Snoslinger Posted October 12, 2018 Share Posted October 12, 2018 4 minutes ago, SSFB said: Moonrunner? wonder what ocean luxury liner he's pretending to live on these days? Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted October 12, 2018 Share Posted October 12, 2018 1 minute ago, Snoslinger said: wonder what ocean luxury liner he's pretending to live on these days? That was the craziest shit ever. I think he was pretty legit. The Sanpan story really screwed him up. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 12, 2018 Platinum Contributing Member Share Posted October 12, 2018 Just now, AKIQPilot said: yes. Its living nice no doubt but not baller status. Not living large. You are living a modest life Its $165 per day. I guess it depends on what baller status or living large is defined as. Honestly if I removed my big ticket items I probably live easily for that right now. Keep in mind we are not big travelers and that can take some serious coin. Most of my money goes towards toys and property but that's the choice we made years ago. Have those things paid for so we can enjoy them at little cost once retired and hopefully pass it on to our children. We don't spend shit on birthdays or holidays. I could never understand couples that blow couple grand or more a year on each other. After 20-30 years of marriage it really adds up. Quote Link to comment Share on other sites More sharing options...
Edmo Posted October 12, 2018 Share Posted October 12, 2018 25 minutes ago, ArcticCrusher said: Pension is different, its a steady for life income. Tom's points are for those who don't. It’s still much less than 200 a day. By my estimate it’s around 140. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted October 12, 2018 Share Posted October 12, 2018 3 minutes ago, Edmo said: It’s still much less than 200 a day. By my estimate it’s around 140. Yes. $140 per day. But that is your parents, not you. So lets estimate that in retirement you will need 2/3 or your preretirement income. Will $200 per day be enough for you? I dont want to get personal so dont answer if you dont want to. Just trying to be realistic with members on this forum. It is not realistic to believe you can live on less than 50% of your preretirement income. That is a huge change in your spend. Even if everything is paid off you will struggle to live on 50% of your preretirement income. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted October 12, 2018 Share Posted October 12, 2018 17 minutes ago, Highmark said: I guess it depends on what baller status or living large is defined as. Honestly if I removed my big ticket items I probably live easily for that right now. Keep in mind we are not big travelers and that can take some serious coin. Most of my money goes towards toys and property but that's the choice we made years ago. Have those things paid for so we can enjoy them at little cost once retired and hopefully pass it on to our children. We don't spend shit on birthdays or holidays. I could never understand couples that blow couple grand or more a year on each other. After 20-30 years of marriage it really adds up. All good points. Quote Link to comment Share on other sites More sharing options...
Dave Posted October 12, 2018 Share Posted October 12, 2018 I like how slinger actually cares how much money I have. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted October 12, 2018 Share Posted October 12, 2018 (edited) There were/are 5 major factors in why I was able to retire at a relatively early age. 1. Worked hard for a decent company that had a retirement plan. 2. Saved 18% of every dollar I made and put it in a 401k and didnt make stupid decisions. 3. Married a lady that didnt spend a lot of money on fancy things 4. Married a lady that didnt divorce me and take half of everything I owned. 5. Bought used. Everything I own was owned by someone else. Besides maybe 10 brand new Polaris race sleds over a 6 year period I have never bought any new vehicle, home, toy, etc. i buy used clothes at the thrift store. So does my wife. Its just what we do. Edited October 12, 2018 by AKIQPilot Quote Link to comment Share on other sites More sharing options...
Dave Posted October 12, 2018 Share Posted October 12, 2018 3 minutes ago, AKIQPilot said: There were/are 5 major factors in why I was able to retire at a relatively early age. 1. Worked hard for a decent company that had a retirement plan. 2. Saved 18% of every dollar I made and put it in a 401k and didnt make stupid decisions. 3. Married a lady that didnt spend a lot of money on fancy things 4. Married a lady that didnt divorce me and take half of everything I owned. 5. Bought used. Everything I own was owned by someone else. Besides maybe 10 brand new Polaris race sleds over a 6 year period I have never bought any new vehicle, home, toy, etc. i buy used clothes at the thrift store. So does my wife. Its just what we do. You did what you had to do...guys like slinger are just envious cause he made poor life decisions all the while making good money. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted October 12, 2018 Share Posted October 12, 2018 Just now, DAVE said: You did what you had to do...guys like slinger are just envious cause he made poor life decisions all the while making good money. Slinger has way more money than he is leading us to believe. He is just playing to his posse........ Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 12, 2018 Platinum Contributing Member Share Posted October 12, 2018 5 minutes ago, AKIQPilot said: All good points. Even though I make great money I'm frugal on many things. Don't travel expensive, keep our cars 5-7 years don't buy expensive clothing etc etc..... Doing many things smartly can really add up over time. My biggest weakness is old 2 strokes.....especially triples and quads. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 12, 2018 Platinum Contributing Member Share Posted October 12, 2018 (edited) 12 minutes ago, AKIQPilot said: There were/are 5 major factors in why I was able to retire at a relatively early age. 1. Worked hard for a decent company that had a retirement plan. 2. Saved 18% of every dollar I made and put it in a 401k and didnt make stupid decisions. 3. Married a lady that didnt spend a lot of money on fancy things 4. Married a lady that didnt divorce me and take half of everything I owned. 5. Bought used. Everything I own was owned by someone else. Besides maybe 10 brand new Polaris race sleds over a 6 year period I have never bought any new vehicle, home, toy, etc. i buy used clothes at the thrift store. So does my wife. Its just what we do. Great points. Especially 3 and 4! But seriously women can spend a man broke. Edited October 12, 2018 by Highmark Quote Link to comment Share on other sites More sharing options...
Dave Posted October 12, 2018 Share Posted October 12, 2018 8 minutes ago, AKIQPilot said: Slinger has way more money than he is leading us to believe. He is just playing to his posse........ I dont know about that....he questions most people. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted October 12, 2018 Share Posted October 12, 2018 4 minutes ago, Highmark said: Great points. Especially 3 and 4! But seriously women can spend a man broke. Yes. Those two things are incredibly important. I spend money on my wife. She almost never spends anything on herself. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 12, 2018 Platinum Contributing Member Share Posted October 12, 2018 (edited) 3 minutes ago, AKIQPilot said: Yes. Those two things are incredibly important. I spend money on my wife. She almost never spends anything on herself. I don't spend much on her and she don't on herself when it comes to the basic things. Kids on the other hand are another story. Sometimes the wife needs to be reeled in there. Honestly one of my best financial decisions was saving for my kids college early and often and during a period of incredible market performance. Not costing me or them a dime now. The great thing is what they don't use they can eventually roll into accounts for their kids. Edited October 12, 2018 by Highmark Quote Link to comment Share on other sites More sharing options...
Pete Posted October 12, 2018 Share Posted October 12, 2018 1 minute ago, Highmark said: I don't spend much on her and she don't on herself when it comes to the basic things. Kids on the other hand are another story. Sometimes the wife needs to be reeled in there. Honestly one of my best financial decisions was saving for my kids college early and often and during a period of incredible market performance. Not costing me or them a dime now. The great thing is what they don't use they can eventually roll into accounts for their kids. college tuition is a killer Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 12, 2018 Platinum Contributing Member Share Posted October 12, 2018 1 minute ago, ATOMIC PUNK said: college tuition is a killer No question it can be but smart decisions like a couple years at a CC first can save big time. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 12, 2018 Share Posted October 12, 2018 3 minutes ago, Highmark said: I don't spend much on her and she don't on herself when it comes to the basic things. Kids on the other hand are another story. Sometimes the wife needs to be reeled in there. Honestly one of my best financial decisions was saving for my kids college early and often and during a period of incredible market performance. Not costing me or them a dime now. The great thing is what they don't use they can eventually roll into accounts for their kids. We're the same way for the most part. Now the boy . . . . we are both guilty. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted October 12, 2018 Share Posted October 12, 2018 4 minutes ago, Highmark said: I don't spend much on her and she don't on herself when it comes to the basic things. Kids on the other hand are another story. Sometimes the wife needs to be reeled in there. Honestly one of my best financial decisions was saving for my kids college early and often and during a period of incredible market performance. Not costing me or them a dime now. The great thing is what they don't use they can eventually roll into accounts for their kids. We saved hard for college as well but out of state tuition was a killer. I spent over $350k sending 3 kids out of state to college. I had saved about half of that. Ive told my kids many times that their free college is their inheritance. If there is any money left when Im gone its all going to the grandkids. The +$100k i gave them when they were 20 is equivelent to almost a million when they are 60. Quote Link to comment Share on other sites More sharing options...
Pete Posted October 12, 2018 Share Posted October 12, 2018 17 minutes ago, Highmark said: No question it can be but smart decisions like a couple years at a CC first can save big time. yep Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 12, 2018 Platinum Contributing Member Share Posted October 12, 2018 16 minutes ago, AKIQPilot said: We saved hard for college as well but out of state tuition was a killer. I spent over $350k sending 3 kids out of state to college. I had saved about half of that. Ive told my kids many times that their free college is their inheritance. If there is any money left when Im gone its all going to the grandkids. The +$100k i gave them when they were 20 is equivelent to almost a million when they are 60. I've told my kids my properties would be the only thing to expect and it won't cost them a dime. I'll put enough in a trust to pay the expenses and they can use them when they want. God ain't making anymore land. If things continue as they are there should be more but I agree in passing some down to the grandkids or more importantly their future. 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted October 12, 2018 Share Posted October 12, 2018 2 hours ago, AKIQPilot said: Why cant these guys see that $200 per day is not all that much money. Especially when you include every penny that is spent for a couple in retirement. I just remembered I got diesel and gas yesterday 60.00 and now I am at 170.00. 200. Is 6000.00 per month or 72000.00 per year. You need a 100k pre tax income for that. If your mortgage and tax bill per month is 1400.00 that alone is 47.00 a day 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted October 12, 2018 Share Posted October 12, 2018 38 minutes ago, AKIQPilot said: Yes. Those two things are incredibly important. I spend money on my wife. She almost never spends anything on herself. Same here Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 12, 2018 Platinum Contributing Member Share Posted October 12, 2018 7 minutes ago, ATOMIC PUNK said: yep People don't understand how much college tuition is revenue sharing. Kids from lower income homes get a large advantage. I'm NOT complaining but its a bigger deal than is discussed in the political spectrum. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted October 12, 2018 Author Share Posted October 12, 2018 20 hours ago, ArcticCrusher said: I've been in it for over 30 years, learned a few lessons. Done well overall esp the last 10 years. I have another 10 years before I even consider retirement but I have already killed all my financial planning goals so I don't need to be concerned with age and risk. It's balls to the walls until I kick this shitty world. I understand your situation regarding risk though. I’m out in about 11 months. The agency I work for has already come to me with an offer to stay on. I can come back, but under state law I can only work 12 months if I’m pulling from my pension. So I have an opportunity to come back indefinitely under contract. I’d be working a sweet deal of 30 hours per week. I still need to work out the vacation time details. I’d like to do that until age 64 and bank a lot of it for my grandson and perhaps a little for my daughter. I’ll also be able pull on my ex wife’s social security. I really can’t stop working. It’s different being in the helping professions. My body is in great shape. Zero wear and tear from physical labor. Working will also keep my head sharp and keep me involved. It’s feels really good to have so many options at this point in my life. Quote Link to comment Share on other sites More sharing options...
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