f7ben Posted March 12, 2020 Author Share Posted March 12, 2020 Just now, AKIQPilot said: And you have to accomplish all that while providing for and raising a family. No small feat but definitely doable as long as you dont mind buying and owning used toys and transportation. In 16 months my only bills will be my small mortgage. I’m going to really start saving hard then for a few years Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 12, 2020 Share Posted March 12, 2020 1 minute ago, f7ben said: In 16 months my only bills will be my small mortgage. I’m going to really start saving hard then for a few years My oldest was/is a good saver. She started her first IRA at 19 years old. Put away some of her Summer earnings while going to college. Middle and youngest are not as good. I will leave it at that. Hahaha Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 12, 2020 Author Share Posted March 12, 2020 Just now, AKIQPilot said: My oldest was/is a good saver. She started her first IRA at 19 years old. Put away some of her Summer earnings while going to college. Middle and youngest are not as good. I will leave it at that. Hahaha I really wish I had done way more even in my early 30s. I was making more 10 years ago than I am now. I could easily have 500k if I had saved at the max rate which would have been easy Ill make up for it the next 10 years though Quote Link to comment Share on other sites More sharing options...
Anler Posted March 12, 2020 Share Posted March 12, 2020 57 minutes ago, s pump said: That's not a wise financial move. Ask me how I know. I disagree. If I divorce her she can only spend half instead of all. 1 Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 12, 2020 Share Posted March 12, 2020 7 minutes ago, Anler said: I disagree. If I divorce her she can only spend half instead of all. Plus all future earnings will be all yours. Not advocating for divorce but I dont know a single divorced guy who is worse off today than when they were married. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 12, 2020 Share Posted March 12, 2020 Just now, AKIQPilot said: Plus all future earnings will be all yours. Not advocating for divorce but I dont know a single divorced guy who is worse off today than when they were married. Just saying if it comes to that, tuff decisions will have to be made! Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted March 12, 2020 Share Posted March 12, 2020 1 hour ago, s pump said: That's not a wise financial move. Ask me how I know. Well you also fucked yourself living in an alimony state. Guy who sits in the office opposite me moved to his beach house and the wife files in MA instead of nh where they lived together. Now he's technically got lifetime alimony. Can't feel too bad he has 2 vipers and a gallardo still. Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted March 12, 2020 Share Posted March 12, 2020 Don't panic If market strategists can agree on anything in these volatile times, it's not to panic. A diversified portfolio is built to withstand certain stress, and unless retirement is right around the corner, investors saving for life after employment will have plenty of time to even out recent losses. Since the start of the year, the S&P 500 (SPX) has fallen more than 14%. But last year's rally boosted the index nearly 29%. So on balance, it's still up versus 2019. Coronavirus, as scary as it might be for the economy, is also only a temporary factor. The underlying US economy has been going strong for more than a decade, with steady GDP growth and an unemployment rate near a 50-year low. Wages are growing, albeit slowly, and America's consumers are spending, which is important because they are the backbone of the US economy. All of this bodes well for a rebound after the coronavirus effect wears off. "The underlying strength of economic conditions could make it possible for a quick rebound once it appears that the virus is under control," said Brian Rose, UBS senior economist for the Americas. "With support from both monetary and fiscal policy, our base case is that a sustained downturn will be avoided." The Federal Reserve has already cut interest rates in an unscheduled emergency measure last week, and further cuts are expected. The White House has meanwhile proposed a payroll tax cut. America won't slide into a recession even though the chances have risen, said LPL Financial in a blog post. Growth in the second half of the year is still expected to outweigh the pain in the first half. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted March 12, 2020 Share Posted March 12, 2020 -10% today Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 12, 2020 Share Posted March 12, 2020 Just now, Mainecat said: -10% today Just in the USA. Wow, that's something. Stop being a fucking useless troll. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 12, 2020 Share Posted March 12, 2020 2 hours ago, AKIQPilot said: 10% is doable if you have the knowledge to make that happen. In the public market that requires a fair bit of risk to achieve that. So is Ben gonna ride the ups and downs or try and time the markets? Quote Link to comment Share on other sites More sharing options...
s pump Posted March 14, 2020 Share Posted March 14, 2020 On 3/12/2020 at 3:16 PM, Angry ginger said: Well you also fucked yourself living in an alimony state. Guy who sits in the office opposite me moved to his beach house and the wife files in MA instead of nh where they lived together. Now he's technically got lifetime alimony. Can't feel too bad he has 2 vipers and a gallardo still. Didn't plan on that when I got married......all in all, it was worth it. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 14, 2020 Share Posted March 14, 2020 On 3/12/2020 at 1:00 PM, Angry ginger said: 1 mil is not enough to retire on at 55 end of story unless your db pension is strong My friend pulled the plug at 48 with $2M. He’s doing well. He has no pension, but lives a frugal lifestyle. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 14, 2020 Share Posted March 14, 2020 6 minutes ago, spin_dry said: My friend pulled the plug at 48 with $2M. He’s doing well. He has no pension, but lives a frugal lifestyle. $2 mill and no bills it’s doable. You can live decent on that kind of money. Quote Link to comment Share on other sites More sharing options...
Guest Posted March 14, 2020 Share Posted March 14, 2020 My pension will be around $87,000 per year Canadian,,, I'm going to retire at 50 this September. Kinda young,,kinda nervous but fuck it,,if I can pay into a pension for 32 years and then draw from it for 32 years,,win win!! Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 14, 2020 Share Posted March 14, 2020 47 minutes ago, HSR said: My pension will be around $87,000 per year Canadian,,, I'm going to retire at 50 this September. Kinda young,,kinda nervous but fuck it,,if I can pay into a pension for 32 years and then draw from it for 32 years,,win win!! That is pretty cool. If you have everything paid for you should be able to live comfortably on $87k CDN. You could also work a little on the side if you want to. Quote Link to comment Share on other sites More sharing options...
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