below zero weather and darkness day after day, you get used to it right?????????
Retirement Targets
- Thread starter yowza
- Start date
below zero weather and darkness day after day, you get used to it right?????????
Totally agree on the car comment. We buy them a year old and drive them into the ground. Cars are the worst investment ever. And NEVER lease a car.
More specifically on the house comment-don't buy more house than you can pay off in 15 years. With the new tax laws and increased standard deduction on federal, home ownership isn't the tax haven it used to be. Buy one under your means and own in outright in 15 years-then it will have been a good investment.
In summer you have to embrace the great outdoors... Fishing, hunting, shooting, hunt-fishing, fish-hunting, camping and drinking - all great fun. Did I mention the mosquitos? 100% deet was part of your diet...
Winters were an acquired taste... And the continued drinking helped... Dark all the time, cars frozen solid, ice fog - but the northern lights were brilliant...
I am retiring form the Postal Service on August 31 2020 at age 57 1/2. I have 5 forms of cash flow, social security supplement until I turn 62 then almost full ss, FERS annuity, 401k, I have a farm that produces income from CRP and I can continue to be President of our Union until voted out which produces income. I am ready to go with the Postal Service but maybe not as President. I am not filthy rich but I could live decently in the second poorest county in Iowa. My health care through my union will cost me 400 dollars a month until age 65. It could go up through the years but I hear horror stories of how much healthcare costs most individuals when leaving a company. Luckily for me the federal government mandated (PAEA postal accountability enhancement act 2006) the Postal Service to PRE-FUND THEIR FUTURE RETIREES HEALTH BENEFITS 75 YEARS IN ADVANCE.
That is funny that you posted this picture. I delivered mail to Roy Marble after his playing days with the Atlanta Hawks in Des Moines. He had a basketball hoop in the driveway. I knocked on his door and his wife answered and I could see him sitting on the couch. I told him that the mailman wasn’t just in Salt Lake. I then proceeded to tell him to come on out and lose to ISU again. He told me, “man I’ll jump over your head.” I said, “I am going to go all Lafester Rhodes on you.” He started laughing and couldn’t believe I remembered that game.
This was from Marketwatch back in January. Kind of interesting.
A household in the U.S. has an average net worth of $692,100, according to the most recent data from the Federal Reserve’s Survey of Consumer Finances.
There are many other ways to slice net worth figures published in the 2016 survey. Let’s start with age:
Median and average net worth by age
A household in the U.S. has an average net worth of $692,100, according to the most recent data from the Federal Reserve’s Survey of Consumer Finances.
There are many other ways to slice net worth figures published in the 2016 survey. Let’s start with age:
Median and average net worth by age
- Under 35: Median net worth: $11,100 (average net worth: $76,200).
- 35-44: $59,800 ($288,700).
- 45-54: $124,200 ($727,500).
- 55-64: $187,300 ($1,167,400).
- 65-74: $224,100 ($1,066,000).
- 75+: $264,800 ($1,067,000).
- No high school diploma: Median net worth: $22,800 (average net worth: $157,200).
- High school diploma: $67,100 ($249,600).
- Some college: $66,100 ($340,600).
- College degree: $292,100 ($1,511,100).
Was hoping there was a good online calculator that let you vary time horizons and whether to assume dividend reinvestment or not and would allow you to put in ticker symbol.
Those numbers seem really high, avg net worth in the US is $692K? Ohh, Average not median...
Yeah Gates Buffet and Bezos brings the average up to about $2,000 per person by just the three of them. Median helps to pull the outliers out.
It would be interesting to see what average is if they factored out say the top 1000 in the US.
My dad died last year and my mom is absolutely without knowledge of anything financial or home maintenance related. It’s frustrating but he just did it all and she didn’t think it was necessary for her to care at the time.
Health insurance is the killer. Easily able to retire before ss / medicare age...but health insurance is the killer.
Would love to see the math on that 250k number by buying used cars. I agree that there's not a bigger waste of money than cars, but question how much you actually save by buying a car that's 2 years old vs. buying a car brand new. When you buy a new car, you have 0 repair costs for the first few years based on warranty and lower likelyhood of failure vs. a used car you will have 0 or short warranty and who knows if the owner before you actually took care of it. Not arguing that you will save money by buying used, I'm questioning how much and if it's really worth it.
Just want to say it’s always appreciated to hear other’s thoughts in here on retirement planning. I’m pretty good with it but I always find I learn a couple of new things here and there from the community in here.
Side note, one thing that gave my wife and I a pause over the last couple of years is we’ve had a spike of family and friends pass away unexpectedly and all 55 or under. We have still not deviated from our retirement plan but man it’s really a gut punch and makes you pause in your mind for just a minute.
Obviously would be an overreaction to get away from our plan, but would be lying to you if the Mrs. and I didn’t have a long conversation after the fourth friend/family member passed whether this was worth it. Those individuals were similar to us and they had all planned on retirement and worked at it only to never see it. It was right then when you truly realize life is one big gamble.
Side note, one thing that gave my wife and I a pause over the last couple of years is we’ve had a spike of family and friends pass away unexpectedly and all 55 or under. We have still not deviated from our retirement plan but man it’s really a gut punch and makes you pause in your mind for just a minute.
Obviously would be an overreaction to get away from our plan, but would be lying to you if the Mrs. and I didn’t have a long conversation after the fourth friend/family member passed whether this was worth it. Those individuals were similar to us and they had all planned on retirement and worked at it only to never see it. It was right then when you truly realize life is one big gamble.