Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 6 minutes ago, Anler said: We are talking about families living on poverty wages I thought. Not retired gnomes who paid everything off. There was two different conversations going on in this thread. My comments on the $4K a month were related to the retirment income. Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 19, 2020 Share Posted March 19, 2020 3 minutes ago, Highmark said: There was two different conversations going on in this thread. My comments on the $4K a month were related to the retirment income. How I saw it too Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 21 minutes ago, Highmark said: Comes down to spending and priorities. $4000 a month goes a good ways. If you spend less on new clothes and cars you can travel and go out to eat more. Nobody is claiming that $4000 a month in retirement is living high off the hog but it can make for a very comfortable retirement if managed properly. What do you think health insurance costs a retired couple that aren't on Medicare. What do you think property taxes and property insurance is in 90% of this nation? Add in sales taxes and income taxes. Add in heat and electric and cell phone and groceries and a little entertainment. Add in a vehicle or two and the expense of fuel and insurance and maintenance. In retirement you need 80% of your preretirement income or you will have to change your lifestyle. If you earn 100k while working you will need $80k in retirement or you will be forced to change your lifestyle. Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 19, 2020 Share Posted March 19, 2020 Just now, AKIQPilot said: What do you think health insurance costs a retired couple that aren't on Medicare. What do you think property taxes and property insurance is in 90% of this nation? Add in sales taxes and income taxes. Add in heat and electric and cell phone and groceries and a little entertainment. Add in a vehicle or two and the expense of fuel and insurance and maintenance. In retirement you need 80% of your preretirement income or you will have to change your lifestyle. If you earn 100k while working you will need $80k in retirement or you will be forced to change your lifestyle. What if you were saving 30k of the 100 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 (edited) Just now, AKIQPilot said: What do you think health insurance costs a retired couple that aren't on Medicare. What do you think property taxes and property insurance is in 90% of this nation? Add in sales taxes and income taxes. Add in heat and electric and cell phone and groceries and a little entertainment. Add in a vehicle or two and the expense of fuel and insurance and maintenance. In retirement you need 80% of your preretirement income or you will have to change your lifestyle. If you earn 100k while working you will need $80k in retirement or you will be forced to change your lifestyle. Sorry, I was making some other assumptions like they were on Medicare and not in a high property tax area like mine isn't. I see your point taking those things into consideration $4K wouldn't go far at all. Edited March 19, 2020 by Highmark Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 Just now, AKIQPilot said: What do you think health insurance costs a retired couple that aren't on Medicare. What do you think property taxes and property insurance is in 90% of this nation? Add in sales taxes and income taxes. Add in heat and electric and cell phone and groceries and a little entertainment. Add in a vehicle or two and the expense of fuel and insurance and maintenance. In retirement you need 80% of your preretirement income or you will have to change your lifestyle. If you earn 100k while working you will need $80k in retirement or you will be forced to change your lifestyle. Prop ins is the only affordable thing on that list. Mine is just a little more then a months prop taxes , for the yr. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 (edited) 53 minutes ago, steve from amherst said: I probably spend $100 a day , going to work. That's insane. How far do you travel each way? I probably don't spend $5. Edited March 19, 2020 by Highmark Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 10 minutes ago, f7ben said: What if you were saving 30k of the 100 Then base your needs on earning $70k per year. If you need to earn $70k to live comfortably during your working years you will need $5k per month in your retirement years. If you have less than $5k per month coming in you will need to change your lifestyle. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted March 19, 2020 Share Posted March 19, 2020 39 minutes ago, Highmark said: What's your state income tax? That's more than I pay for my house (which is large), 4100 square foot steel building, 24x24 ft cabin and 280 acres. I live in CT with a 5.something % income tax, and my property taxes are around 600 a month. My last house was close to a grand a month. It’s ridiculous, can’t wait to get out of this fucking state. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 15 minutes ago, Highmark said: That's insane. How far do you travel each way? I probably don't spend $5. Depends where I am working that day. Working in NH lunch is $10 or so. Working in mss , it's around $20 . That's for a sub and a couple sodas , or waters. Quote Link to comment Share on other sites More sharing options...
GGNHL Posted March 19, 2020 Share Posted March 19, 2020 (edited) 10 minutes ago, DriftBusta said: I live in CT with a 5.something % income tax, and my property taxes are around 600 a month. My last house was close to a grand a month. It’s ridiculous, can’t wait to get out of this fucking state. There's an EJ office in Augusta, I'll rent you out one of my spare bedrooms for $600 a month to you and the lady and give you one of the parking spots in the garage. Edited March 19, 2020 by GGNHL Quote Link to comment Share on other sites More sharing options...
Mileage Psycho Posted March 19, 2020 Share Posted March 19, 2020 2 hours ago, steve from amherst said: MY prop taxes are $683 a month. My town is expensive. but it's not a big house. My taxes are just under 10K a year, 3,000 SF a few acres, 2,100 SF tech center, pool house, and a pavillion, but I'm unicorporated if I was incorporated I'd be looking at 18K a year. 2 hours ago, Highmark said: Yeah that's tough to compare over a lifetime. My state effective tax rate is generally over 7%. We also have a 7% sales tax in this county. Its a bit higher in other surrounding counties. Illinois income tax is 4.90% was 3.75% for many years, county sales tax is 7% 1 hour ago, f7ben said: What if you were saving 30k of the 100 30K out of 100K doesn't leave much room for toys and vacations. Quote Link to comment Share on other sites More sharing options...
snopro31 Posted March 19, 2020 Share Posted March 19, 2020 3 hours ago, f7ben said: Kill yourself retarded faggot I’ll take that as a no then Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted March 19, 2020 Share Posted March 19, 2020 no company's should ever be bailed out with govenment money ever zero exceptions . in fact imho the boards should personally have to awnser monetarily. I say any one on the board for 2 yrs prior in fact Quote Link to comment Share on other sites More sharing options...
Mileage Psycho Posted March 19, 2020 Share Posted March 19, 2020 6 minutes ago, Ez ryder said: no company's should ever be bailed out with govenment money ever zero exceptions . in fact imho the boards should personally have to awnser monetarily. I say any one on the board for 2 yrs prior in fact Nothing pisses me off more than some CEO who leads a company into massive losses and then gets an eight figure parachute when they fire his happy ass, big business rewards failure 2 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted March 19, 2020 Share Posted March 19, 2020 3 minutes ago, Ez ryder said: no company's should ever be bailed out with govenment money ever zero exceptions . in fact imho the boards should personally have to awnser monetarily. I say any one on the board for 2 yrs prior in fact I agree. These "golden parachutes" are not much more that bail out of the plane you help set ablaze protection. Just now, Mileage Psycho said: Nothing pisses me off more than some CEO who leads a company into massive losses and then gets an eight figure parachute when they fire his happy ass, big business rewards failure Feel Our Passion. Quote Link to comment Share on other sites More sharing options...
racer254 Posted March 19, 2020 Share Posted March 19, 2020 (edited) 7 minutes ago, Mileage Psycho said: Nothing pisses me off more than some CEO who leads a company into massive losses and then gets an eight figure parachute when they fire his happy ass, big business rewards failure 16 minutes ago, Ez ryder said: no company's should ever be bailed out with govenment money ever zero exceptions . in fact imho the boards should personally have to awnser monetarily. I say any one on the board for 2 yrs prior in fact Both describe exactly how I feel. That POS from gm Rick Wagoner is a perfect example of what MP is talking about. His decisions affected millions yet, he skated away with a great retirement package and will never feel the effects of those decisions. After 32 years at GM, Wagoner retired with an exit package of over $10 million: $1.65 million in benefits per year for his first five years of retirement, $74,030 per year pension for the rest of his life, and a $2.6 million life insurance policy that can be cashed out at any time. Edited March 19, 2020 by racer254 Quote Link to comment Share on other sites More sharing options...
1jkw Posted March 19, 2020 Share Posted March 19, 2020 2 hours ago, AKIQPilot said: What do you think health insurance costs a retired couple that aren't on Medicare. What do you think property taxes and property insurance is in 90% of this nation? Add in sales taxes and income taxes. Add in heat and electric and cell phone and groceries and a little entertainment. Add in a vehicle or two and the expense of fuel and insurance and maintenance. In retirement you need 80% of your preretirement income or you will have to change your lifestyle. If you earn 100k while working you will need $80k in retirement or you will be forced to change your lifestyle. If things don't change too much HI will be1700.00 a month for my wife and I until 65. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 12 minutes ago, racer254 said: Both describe exactly how I feel. That POS from gm Rick Wagoner is a perfect example of what MP is talking about. His decisions affected millions yet, he skated away with a great retirement package and will never feel the effects of those decisions. After 32 years at GM, Wagoner retired with an exit package of over $10 million: $1.65 million in benefits per year for his first five years of retirement, $74,030 per year pension for the rest of his life, and a $2.6 million life insurance policy that can be cashed out at any time. It will never change until our country stops bailing them out. The problem is no politicians have the balls because no matter what some of us say in here the country expects companies like the auto makers to be bailed out. Its fucking weird. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 14 minutes ago, Zambroski said: I agree. These "golden parachutes" are not much more that bail out of the plane you help set ablaze protection. Feel Our Passion. What year is that. Tough to tell considering the sled hasn't changed in over 10. 1 Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 10 minutes ago, 1jkw said: If things don't change too much HI will be1700.00 a month for my wife and I until 65. Wowza. Try living on $4000 per month when your health insurance alone is 40% of the budget. Quote Link to comment Share on other sites More sharing options...
1jkw Posted March 19, 2020 Share Posted March 19, 2020 36 minutes ago, AKIQPilot said: Wowza. Try living on $4000 per month when your health insurance alone is 40% of the budget. Yes then add in $6000.00 plus in taxes, Home insurance, and car insurance . Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 8 minutes ago, 1jkw said: Yes then add in $6000.00 plus in taxes, Home insurance, and car insurance . Exactly. To put things into perspective lets say you have $200,000 saved for retirement. Lets say you and spouse qualify for $2000/month in social security together. If you draw $2000 per month from your savings your $200k will be gone in 10 years. This is assuming realistic returns on your nest egg and normal COLA. If for some reason you are forced into retirement early and had to begin drawing at 62, you could be completely broke by the time you are 72. You would work for 40 years, save up a little nest egg, retire prematurely, live in virtual poverty and be completely broke by the time you are 72. This is a reality for many people. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted March 19, 2020 Share Posted March 19, 2020 1 hour ago, Highmark said: What year is that. Tough to tell considering the sled hasn't changed in over 10. Once you reach perfection, changes aren’t really necessary. LOL! BTW, that was 2012....that machine was a long way from perfection at that point. Just the frame was the best in the business at that point....well, the Zook mil too. But hey, let’s not forget what the others were doing back then. Yamaha was still trying to get “Johnny Skeptical” to sell their sit-downers. Doo was just getting their etec cranks and pistons to stop melding together into a boat anchor and Poo was knee deep in.re-engineering some throw away shit Doo gave up and calling it...the “terrain dominator” (they’d long given up on trying to make a decent consumer motor by then). YEEEEAAAAAHOOOOOOOOO!!!!!! Quote Link to comment Share on other sites More sharing options...
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