What's your tapout number to retire?

[Deleted]

This thread is talking about the point of retiring as a financial benchmark.

Yeah, indeed. The OP, as badly written as it is in completely broken and horrible English, makes no mention of it being an "imaginary" situation, which is why I was laughing at all the people actually thinking they'll ever be millionaires for real, which is what they do think.

[Felya]

Yeah, indeed. The OP, as badly written as it is in completely broken and horrible English, makes no mention of it being an "imaginary" situation, which is why I was laughing at all the people actually thinking they'll ever be millionaires for real, which is what they do think.

Yes, and as I said. When a thread is started asking people for what super power they want and does not mention imagination, there is no need to tell people they cannot fly.

http://youtu.be/PD3hTWMx9jU

[Deleted]

Yes, and as I said. When a thread is started asking people for what super power they want and does not mention imagination, there is no need to tell people they cannot fly.

Blah blah blah blah. This thread has nothing to do with "super powers". People do actually think they'll have a million or five million one day.

Whatever. You're way too boring to have your stuff visible. To the hidden department you go.

[breadisfunny]

Blah blah blah blah. This thread has nothing to do with "super powers". People do actually think they'll have a million or five million one day.

Whatever. You're way too boring to have your stuff visible. To the hidden department you go.

thats right syndanyo run off and ignore people instead of admitting YOUR WRONG.

[Felya]

Blah blah blah blah. This thread has nothing to do with "super powers". People do actually think they'll have a million or five million one day.

Whatever. You're way too boring to have your stuff visible. To the hidden department you go.

Avoid sharp edges... It's not worth it...

[Ghostpanther]

What if you retire under a bus one day. What if you find out you've got terminal cancer and retire in the next two years. But hey, make those plans. Plan ahead, save for when you're like 70, even if you're not even 30 yet. Cos surely nothing bad can happen to you in those 40 years, and why live life in your 20s and 30s, when you can live life when you're a septuagenarian. Right?

No no, I got it. People think they'll save up and have a million on their bank accounts some day. Some even five million.

Planning ahead for the future is just a smart thing to do. Because we all will grow old and it is not right to live like a grasshopper and then expect the ants to share their stores when winter hits. The grasshoppers die.

I had a great time between the time I was 20 until I retired , still did fun things, vacations, movies, etc. and am able to enjoy my retirement because of the sacrifices and planning. And it is not about having a million dollars, but enough to live comfortable, without worrying about leeching off others and paying our bills when we can retire or no longer can work due to mandatory retirements, medical reasons.

And I have a cousin who wanted to be a millionaire and when he retired from a drug company at around 60, he was. The amount one will need depends on what you want to do when you do retire, like I said in my other post. I did not need anything even close to one million. Far from it. And now several years after I retired, I do not regret one thing I did to sacrifice or plan for this later stage of my life. Does not mean I made all perfect plans. There are a few things I would do differently. But nothing major.

[Fencers]

1-2 million is not that much over the course of one's lifetime of working depending on where you live. At least for upper middle class Americans. You can barely afford your house in NY with 2 million.

I suspect my husband and I will work for a long time into our old age. Partly for enjoyment but also we both work rather 'low impact' jobs. I work in market research and am an industrial psychologist, my husband is a programmer. We both have a lot of technical, managerial and logistic experience.

It's really not that taxing on the mind or body to sit at a desk for a few hours a day typing.

[Independent voter]

I live very simply and I don't need a lot of money. My 401K was looking really good until oil dropped down to $26 a barrel. I could probably make it on less than a million without a problem but I spend like $60-90 a month on food for example.

[Grummgug]

This is unknowable because the value of a dollar fluctuates. There is absolutely no way to know what the value of a dollar will be 10 years from now. The problem is currencies can be stable for decades, but huge inflationary events can emerge and devalue a currency by 90% in a matter of 2-3 years. This is why when you have a lot of money, smart people just keep making more money.

[Ciddy]

Couple million would probably do it.

That said, it's not likely to happen unless I win the lottery or something. I'll be surprised if I actually get to retire.

[Ghostpanther]

Couple million would probably do it.

That said, it's not likely to happen unless I win the lottery or something. I'll be surprised if I actually get to retire.

You should plan as if you are going to. Because the odds are, you will. Ether by choice or not.

And you do not need a million bucks unless you have a present income of more than a million when you retire. The good rule of thumb is you will need 80% of your present income when you retire if you want to continue to live the same standard of living. Of course this is assuming you do have a system in place which takes inflation in mind. And some savings set aside for emergencies. And medical costs have to be factored in too.

So let us assume a couple make 100,000 a year. They have health insurance to cover any major medical issues and their retirement income has inflation increase factors in it. The other rule of thumb is you should have 6 months of your income set aside for emergencies. So in this scenario, 80,000 retirement income and 50,000 stuck away for emergencies is fine.

[Varitok]

If you have a million you should throw it in a no risk investment and live off the checks.

[Blueobelisk]

I say $2 million but realistically I'd have to work somewhat for health benefits and maybe pocket money.

[melodramocracy]

1-2 million is not that much over the course of one's lifetime of working depending on where you live. At least for upper middle class Americans. You can barely afford your house in NY with 2 million.

I suspect my husband and I will work for a long time into our old age. Partly for enjoyment but also we both work rather 'low impact' jobs. I work in market research and am an industrial psychologist, my husband is a programmer. We both have a lot of technical, managerial and logistic experience.

It's really not that taxing on the mind or body to sit at a desk for a few hours a day typing.

Over the course of a lifetime it isn't a big figure to accumulate, but it is a pretty big figure to save. You'd need to have gotten in on the 401k thing at a pretty young age, and contributed to it significantly and consistently, alongside whatever other ventures are going on.

I don't think a median income household has much of a chance at all of pulling that sort of retirement in. Maybe I'm wrong. *shrug*

[Tijuana]

What's your tap out number for retirement?

If you retired what would you do?


Personally for me $5 million is enough $2,000,000 set aside for cash $1,000,000 in. Trust for taxes on every thing I own no payment and $3,000,000 invested in 2 or 3 properties I rent out. The rest if put in clean energy and clean water technology. If I have any left over it would go for investing in bio medical technology like growing organs and hearts.

You should just give it to charity if you are going to set it on fire like that.

[TITAN308]

From what I have read 5 million is the minimum.

[unfilteredJW]

Retire?

hahahahaahahahaahhahaha

[TrumpIsPresident]

let me guess your going with gold......

"I actually don’t know how much money I have, but I do know how many pounds of money I have.”