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No dissenting opinion here BUT double the cost of healthcare in 5 years it just very expensive and reform is unlikely to change that trend as population ages. (No political statement intended)

Thanks folks helpful responses

John,
I was looking at the safest investment like in "your money or your life". I do not think i am going all treasuries but some times you just want to throw in the towel!!!
Thanks,

If you could live off 3% withdraw from savings and use SS as your hedge against inflation would you go all in with 30 year treasury bills? Not taking more risk than is necessary thinking.

Without knowing the community, other partners and the hospital/other competitors (assuming real estate is not included) my guess the practice is worth very little. This news will not be will received by the senior physician. Goodwill is limited unless you are selling to a hospital then your partner ...

Leesbro63 wrote:
Wricha is just plain wrong.



What fact was wrong. Perhaps you could enlighten me?
+1

Pittsurgh, It's a place that has moved from one crisis to another and done it poorly. The political situation is corrupt at best (chief of police & mayor under FBi investigation) no creativity on solving problems (single party town for nearly 100 years). The 2nd largest healthcare system is bank...

Buy a 993 air cooled real Porsche and the best looking 911 ever for about $35k

I would not live my life pursuing a $50 million portfolio. In my opinion, that is the wrong approach. You should pursue happiness and quality of life. Since money can be an important part to that, I suggest you save a high percentage of your salary and pursue making the portfolio as large as you can...

If you have over a certain amount the service is free (prior post ($500k) There is absolutely no hard sale and they may help you tie togethe or bridge the gap between insurance needs and investments. I don't think you will lose anything by talking with them. Ultimately, you must decide what is in yo...

Steve, I have worked with docs for over 30 years. The biggest mistake they make besides divorce is fighting the urged to spend because they have delayed gratification for a long time and every sales person/society telling them they are a doctor and they can afford it (they can't/shouldn't ). Normall...

Very impressive,well done. As mentioned by others you are ahead of most Americans. I was in a similar position (financially) in my 30's . Twenty five years later finanically indepentent bah bah. My point to you is I think you need to invest in yourself to obtain additional skills to earn more money ...

I am not sure if I am happy or pissed. I called USAA today. Been a member for 36 years with a very large balance in savings account collecting .0035 interest. After the call today I am now getting .0085 I missed out on several thousands of dollars of interest last year. It felt like an open air mark...

Word of caution on homesteading in FL. If you tell FL you have another home in a different state even if FL is your permenant residence they will want proof that you are not receiving a tax break in that state. If you are, no exemption in FL. Kinda of a pain once you mention second residence.

Thanks Peter. That is the law in PA they claim you can't lay yourself off.

John, You are probably right. I really don't have the capacity to understand $16 T of debt ($50k/US citizen). I do know that I have been self employed for most of my life and have paid unemployment tax the entire time and yet I am not eligible to collect unemployment compensation and some elected fo...

How long one will live is the key. My Father is 38 years older than I am and still going. If real estate is sold then cash could cover expenses for 28 years (no interest). After that, muni bonds plus interest would carry the day. Cash flow from real estate currently covers 50% of living expenses. SS...

I have been moving into retirement for almost a year! And 8 years from SS which I am not counting on. I have a simple AA 40% real estate, 30% cash and 30% muni bonds (individual probably 80 different average return almost 5% A+ or better rated ). I have been given an offer to sell my real estate int...

Rick, Still getting an error message. Thanks

I do think if you have a poriflo over $1M you might want to be sure it is protected from a 55% inheritence tax. This could take place on the first of the year.

I do think if you have a poriflo over $1M you might want to be sure it is protected from a 55% inheritence tax. This could take place on the first of the year.

Most of those bonuses/incentives you describe are still considered income.

The orginal question was how much overlap between the two groups. The amount of overlap will tell you more about how wealth is accumulated.

The $400k income and $10M net income are not averages of the top 1 % they are the entrance points to the top 1%. I'll give a little on inherence but there needs to be a significant capital event to enter the $10M club. What got me thinking on this was that I work/worked with a couple hundred folks t...

I am guessing the overlap between net worth and net income is smaller than one might think. If this is true "The Millionaire Next Door" is an upper middle class guy and inherited wealth is a live and well.

Threshold

Thanks lawman I agree . I was wondering how much overlap was between these two clubs. Is the millionaire next door really addressing a very narrow segment of wealth or well off in the US?

How much do you think you would have after 25 years of saving $200k/yr with a 5% return? answer: about $10 million

It is doubtful they started out 25 years ago making $400k

I was doing a little research on what makes someone in the top 1% club. The annual income appears to be almost $400k yet the net worth worth is between $8-10M. My question is how much overlap is there between these two groups? I think to have $10 M on $400k/yr would be tough. What am I missing ? inh...

I have commercial real estate which maybe slightly different. The things I like about besides a good return ( better than S&P long term) that you don't get from equities: 1. The tenant and landlord have a vested interest in making sure the property is well maintained. 2. If the property is not r...

When I looked at the survey I though anyone that was low by 50% was hiding something. I ask my significant other this question she was off by almost 100% (low). I was shocked since I do talk with her about real estate deals, investments, and have reviewed personal balance sheets, P&L, and cash f...

I am in a similar situation on a 2nd house (condo in FL) 4.5% fixed for 30 years. One reason to keep mortgage although I will probably pay mine off. I use USAA for all my insurance needs. They are not writing any more policies for condos on the water in FL. I had to get coverage with a local/regiona...

If you are eligible USAA. Live in PA and have an umbrella policy with them.

My wife of twenty years looks like a pair of 20s hopefully not 3 20's! Will do calljim thanks again.

Thanks Calljim, I am going to review your plan further. I like it.

Thank you valuethinker. You are right on target with inflation and will real estate be the hedge it traditional has against inflation. I not opposed to some equalities how much? where? My problem is if I get back into the market you folks will lose money!

Not sure I will get if there is any means testing

$150k includes real estate and pension but after any taxes. Thanks

I have read a fair amount on personal financing and 3 or 4 books by Mr Bogle. As with most people I got caught in the tech bubble . After that painful experience I never looked seriously at the stock market since. I am now 58 and will retire in 6 months ( I have never made any money in the stock mar...