That concerns me too. Hopefully I'll have enough so they (whomever they are) won't mismanage it to the point I'm out on the street before I go. After that it is out of my hands.
Search found 4354 matches
- Thu Mar 28, 2024 8:53 am
- Forum: Personal Investments
- Topic: How do YOU integrate cognitive decline with investment policy?
- Replies: 26
- Views: 1887
- Wed Mar 20, 2024 5:50 pm
- Forum: Investing - Theory, News & General
- Topic: Reset 4% withdrawal floor if portfolio increases in value?
- Replies: 93
- Views: 8019
Re: Reset 4% withdrawal floor if portfolio increases in value?
I was thinking that the 4% withdrawal rule was based on historical information. If that is correct, then in the past the portfolio balances have had their ups and downs. So, to my way of thinking, periodically adjusting the 4% calculation upward to follow an upward market should increase the chances of encountering a series of poorer than expected returns thus increasing the chances of a poorer than expected outcomes.
Basically, it's moving the withdrawal dollars ever upward until you hit a bad sequence of returns. Could be wrong.
Basically, it's moving the withdrawal dollars ever upward until you hit a bad sequence of returns. Could be wrong.
- Tue Mar 19, 2024 9:24 am
- Forum: Non-US Investing
- Topic: Courage to Invest in Equities
- Replies: 57
- Views: 4518
Re: Courage to Invest in Equities
I don't know if it's courage. I just haven't found an asset class with long term returns that consistently out pace equities. So, I'm at a loss to determine what else I could invest in. Maybe I'm reading the wrong forum.
- Sun Mar 17, 2024 10:38 am
- Forum: Investing - Theory, News & General
- Topic: Anybody heard stories of well "prepared" retirees running out of money?
- Replies: 210
- Views: 23836
Re: Anybody heard stories of well "prepared" retirees running out of money?
True, at least a healthy concern for that possibility.
But, if you spend most of your working career trying to accumulate enough while simultaneously trying to unlearn the stuff you shouldn't have been taught and learning the stuff you should have been taught while living life and taking care of necessary expenses along the way, it's a concern that's hard to avoid. Add to that the known unknowns and the unknown unknowns and a healthy concern for those probabilities, it's almost unavoidable.
- Sat Mar 16, 2024 5:54 pm
- Forum: Investing - Theory, News & General
- Topic: Theoretically, would VTI be an effective long term retirement investment, even when held in a taxable account ?
- Replies: 34
- Views: 4304
- Sat Mar 16, 2024 5:42 pm
- Forum: Investing - Theory, News & General
- Topic: Anybody heard stories of well "prepared" retirees running out of money?
- Replies: 210
- Views: 23836
Re: Anybody heard stories of well "prepared" retirees running out of money?
Sounds as if you are doing the best you can under the circumstances.
How much support you'll be able to provide and in what form without damaging your hopefully successful retirement will be a difficult thing to figure out.
Best of luck.
- Sat Mar 16, 2024 2:41 pm
- Forum: Investing - Theory, News & General
- Topic: Anybody heard stories of well "prepared" retirees running out of money?
- Replies: 210
- Views: 23836
Re: Anybody heard stories of well "prepared" retirees running out of money?
Haven't heard of any, personally.
I guess it is possible. Probably have to do with health related events - longevity, long term care, etc. But if well prepared means a pension (or appropriately sized life annuity)/ a decent sized portfolio, proper AA, relatively mild inflation, etc., I would assume it's rare.
I guess it is possible. Probably have to do with health related events - longevity, long term care, etc. But if well prepared means a pension (or appropriately sized life annuity)/ a decent sized portfolio, proper AA, relatively mild inflation, etc., I would assume it's rare.
- Sat Mar 16, 2024 8:59 am
- Forum: Personal Finance (Not Investing)
- Topic: Letter to heir - what would you include?
- Replies: 90
- Views: 7799
Re: Letter to heir - what would you include?
Everything except where the gold is buried.
- Sat Mar 16, 2024 8:43 am
- Forum: Investing - Theory, News & General
- Topic: Where does your [investing] inspiration come from?
- Replies: 31
- Views: 3117
Re: Where does your [investing] inspiration come from?
It was a long and winding road. And after running up more than a few dead ends, I read Jack Bogle's 1st book On Mutual Funds. That started the process of AA and choosing low cost index funds for investing.
- Sun Mar 10, 2024 8:42 am
- Forum: Investing - Theory, News & General
- Topic: "When" do you sell equities during Retirement?
- Replies: 29
- Views: 4524
Re: "When" do you sell equities during Retirement?
I'm 76 and in retirement. Right now, I'm selling stock to take RMDs. Well, actually, it's mutual funds that contain stocks and bonds but it's roughly the same thing. Additionally, when I take RMDs it's an opportunity to rebalance the portfolio back to my chosen AA. I'm also sure in the days ahead there will be opportunities to sell stocks for large nonrecurring expenditures such as a new car, etc.
- Sat Mar 09, 2024 2:46 pm
- Forum: Investing - Theory, News & General
- Topic: Retirees apparently tend to maintain assets - lessons for BH investors?
- Replies: 129
- Views: 17371
Re: Retirees apparently tend to maintain assets - lessons for BH investors?
True. But very few of us are perfect.… A friend of mine says his goal is to write his last check to the undertaker, and have it bounce.
Your friend I’m afraid is a victim of the worst kind of market timing, carries the gambling sickness, and is an avowed crook—
- Thu Feb 29, 2024 10:23 am
- Forum: Personal Finance (Not Investing)
- Topic: A confident Boglehead in his 60s pondering managing a portfolio in their 80s and beyond?
- Replies: 42
- Views: 5628
- Thu Feb 29, 2024 10:22 am
- Forum: Personal Finance (Not Investing)
- Topic: A confident Boglehead in his 60s pondering managing a portfolio in their 80s and beyond?
- Replies: 42
- Views: 5628
Re: A confident Boglehead in his 60s pondering managing a portfolio in their 80s and beyond?
I also realize that my ability to make sound decisions may be finite and the odds are that my wife will likely outlive me. This seems to me at some point later in retirement, this may be a wise move to make ahead of when one needs it. What are others experience with this type of transition? I'm 76. I made a slight, hopefully reversible, mistake taking a RMD this year. First time I had to use a CPA in hopes of sorting through that process. Still had to do the same amount of data collection for filing. Usually it's just plug and chug with turbo tax, although that's beginning to be more tedious as the years roll on. I believe that a simple portfolio (life strategy funds) is easily managed into your mid to late 70s, maybe later. I also believe...
- Thu Feb 29, 2024 8:51 am
- Forum: Investing - Theory, News & General
- Topic: Retirees: at what age...?
- Replies: 48
- Views: 5262
Re: Retirees: at what age...?
I'm afraid by the time I get a decent idea on when it's a good time to unlock the shackles, I'll be too old to turn the key. I'm 76 and not there yet.tennisplyr wrote: ↑Thu Feb 29, 2024 8:17 am at what age do retirees plan to or have removed their shackles on spending? That is, you feel you are at a point/age in life that the clock is ticking and it's time to ramp up the spending.
- Tue Feb 27, 2024 10:27 am
- Forum: Investing - Theory, News & General
- Topic: Retirees apparently tend to maintain assets - lessons for BH investors?
- Replies: 129
- Views: 17371
Re: Retirees apparently tend to maintain assets - lessons for BH investors?
The part that really concerns me isTN_Boy wrote: ↑Tue Feb 27, 2024 9:26 am But as we don't know:
1) when we are going to die
2) what our unavoidable expenses in later life will be (LTC, child needing help, etc)
3) what market returns will be
Anybody that says entering retirement they have a PLAN to die with zero is either not very smart or doesn't understand the points above.
4) how long will my spouse live after I die?
That adds a wrinkle of complexity to my financial planning. I have always believed that anyone who puts up with me for that long deserves to be provided for.
- Tue Feb 13, 2024 10:05 am
- Forum: Personal Investments
- Topic: Should I quit or slog through
- Replies: 62
- Views: 7630
Re: Should I quit or slog through
If you really don't like the job, it's time to go.
- Tue Feb 06, 2024 11:26 am
- Forum: US Chapters
- Topic: Are any BH's not wealthy?
- Replies: 165
- Views: 26464
Re: Are any BH's not wealthy?
Wealthy? Far from it. Not likely to get there. I may have enough left to take care of DW after I pass on and leave a little for the kids to fight over. Don't know.
With a late start, one income and stay at home spouse we did have enough to put food on the table and put two kids through grad school. I guess that may count as wealthy for some. But money wise it isn't wealthy. But money isn't a good measure of wealth either.
With a late start, one income and stay at home spouse we did have enough to put food on the table and put two kids through grad school. I guess that may count as wealthy for some. But money wise it isn't wealthy. But money isn't a good measure of wealth either.
- Sat Feb 03, 2024 10:13 am
- Forum: Personal Investments
- Topic: Do Bogleheads "Buy the Dip"?
- Replies: 136
- Views: 12786
Re: Do index investors "Buy the Dip"?
I guess I do. I'm invested in two mutual funds with an asset allocation of 60/40 and 40/60. So they rebalance on the way up and down. So, yes. I buy the dips and sell the rips.
Of course, I do that in tax deferred accounts which are the bulk of my investments.
Of course, I do that in tax deferred accounts which are the bulk of my investments.
- Fri Jan 26, 2024 10:50 am
- Forum: Personal Investments
- Topic: How did you get over your fear of investing in the market?
- Replies: 64
- Views: 5109
Re: How did you get over your fear of investing in the market?
I'm not sure I got there yet. Education helps. In my case, I had to unlearn a lot of things before I learned about index investing. I remember reading Jack Bogle's first (?) book On Mutual Funds (?) in the early 90's. That helped me on the road and I had been putting money aside for 15 or so years so I had something to work with. My copy is marked up with projections of various AA, potential market returns by asset class (stocks, bonds, international, etc.) that led me to an estimated (SWAG) portfolio return and investment contribution rate necessary to support my projected retirement date. (I later learned most of those projections were again guesses although I did hit my goals with a few years to spare. Pure luck.) So, although I'm not to...
- Tue Jan 23, 2024 9:26 am
- Forum: Personal Finance (Not Investing)
- Topic: Psychological Aversion to Decumulation Phase
- Replies: 73
- Views: 7446
Re: Psychological Aversion to Decumulation Phase
Cheer up! Some of us never overcome it. I've been retired for 13+ (?) years. What bothers me is the declining portfolio totals as RMDs kick in in the later years, along with the usual annual expenses. I finally ran the numbers again and convinced myself that I'll have a reasonable chance to have enough for DW and me to make it to the end. The rest I'm in the process of forgetting to worry about. Long process. Good luck, kids.
- Mon Jan 22, 2024 10:01 am
- Forum: Personal Consumer Issues
- Topic: what to put in a time capsule that will be valuable in 50 or 100 years?
- Replies: 65
- Views: 6409
Re: what to put in a time capsule that will be valuable in 50 or 100 years?
a roll of forever stamps
- Wed Jan 17, 2024 10:15 am
- Forum: Investing - Theory, News & General
- Topic: How did you make your first $1M?
- Replies: 148
- Views: 35679
Re: How did you make your first $1M?
Saved about 12% of the paycheck every two weeks in index funds for about 35+ years. Made it to about $1 million around 2011 and then retired.
- Thu Jan 11, 2024 8:29 am
- Forum: Personal Investments
- Topic: Is anybody actually running out of money in retirement?
- Replies: 201
- Views: 48771
Re: Is anybody actually running out of money in retirement?
It's a little too soon to say for sure. I'm 76 and have been retired for 14 years. So I'm only in the first part of a long race. I'm a little concerned about having enough left for DW for as long as she needs it. I'm quickly losing interest in a commitment/goal in providing for the kids, grandkids, and a number of charities for an unknowable time into the future. Somewhere along the line someone else is going to have to pick up the pace.learning30 wrote: ↑Wed Jan 10, 2024 9:42 pm I look at wealthy family members and they all have what I would think is enough but there is always this concern of running out, so I wonder if anybody actually has?
I'll let you know later.
- Mon Jan 08, 2024 8:14 am
- Forum: Personal Finance (Not Investing)
- Topic: “You’ll know when the right time is to retire”
- Replies: 69
- Views: 9767
Re: “You’ll know when the right time is to retire”
The estate was settled and the inheritance arrived.
Well that and the kids were through with grad school. I had 39 years with the corporation and the career wasn't going anywhere. I was eligible for SS and a pension. The house was paid for. ...
Well that and the kids were through with grad school. I had 39 years with the corporation and the career wasn't going anywhere. I was eligible for SS and a pension. The house was paid for. ...
- Mon Jan 01, 2024 9:35 am
- Forum: Investing - Theory, News & General
- Topic: Should IPS contain a definition of success?
- Replies: 37
- Views: 4262
Re: Should IPS contain a definition of success?
I am beginning to come around to the idea that an IPS should contain some statements in addition to those primarily about money and asset allocation. (I know, heresy) But, something should lead you toward the idea of getting off the treadmill of providing for the fulfillment of everyone else's expectations concerning your assets. Taking care of the spouse? Definitely. Disabled child? Definitely yes. I'm sure there are other legitimate personal goals but there should be an end point. Something that says I've done the best I can do with what I have. The rest is up to you.Squirrel208 wrote: ↑Sun Dec 31, 2023 10:44 am you can use whatever terms and definitions you like that will make your own IPS relevant and actionable in helping to stay the course.
- Mon Jan 01, 2024 9:11 am
- Forum: Personal Consumer Issues
- Topic: When to sell old/purchase new vehicle
- Replies: 37
- Views: 5029
Re: When to sell old/purchase new vehicle
My 2011 Sonata was sold when it totaled after an accident in a parking lot. Seemed about the right time.
- Fri Dec 29, 2023 6:42 pm
- Forum: Investing - Theory, News & General
- Topic: Do you view portfolio risk differently when you retired
- Replies: 32
- Views: 3884
Re: Do you view portfolio risk differently when you retired
I'm 76. Retired for 14 years. The short answer is no. My view is still that the portfolio may not be enough to take care of the obligations and expectations of all the people who think they have a claim on / right to part of the estate. That's the biggest change from before to after retirement.
- Thu Dec 28, 2023 11:42 am
- Forum: Personal Investments
- Topic: VTWAX or VTSAX Next 30 Years? [Vanguard Total World vs. (US) Stock Market]
- Replies: 27
- Views: 3190
Re: VTWAX or VTSAX Next 30 Years?
If I knew, I wouldn't tell you.
- Tue Dec 26, 2023 5:04 pm
- Forum: Investing - Theory, News & General
- Topic: Best book to convince someone investing isn't gambling
- Replies: 102
- Views: 120044
- Mon Dec 25, 2023 10:39 am
- Forum: Investing - Theory, News & General
- Topic: What is Your Biggest "Good Problem to Have"? [Financial]
- Replies: 97
- Views: 13994
Re: What is Your Biggest "Good Problem to Have"? [Financial]
Simply put the good problem to have is making a finite amount of money meet an ever growing demand for things to spend money on.
I have to figure out how to cover my and my DW's needs and wants for the duration - however long that may be. Add to that the requests for charitable donations, inheritance for the kids, and covering the college costs for the grandkids.
And while the amount of money may be finite, the value of that money changes with every blip in interest rates.
I have to figure out how to cover my and my DW's needs and wants for the duration - however long that may be. Add to that the requests for charitable donations, inheritance for the kids, and covering the college costs for the grandkids.
And while the amount of money may be finite, the value of that money changes with every blip in interest rates.
- Fri Dec 22, 2023 8:24 am
- Forum: Personal Finance (Not Investing)
- Topic: Inheritance Financial/Moral Dilemma
- Replies: 105
- Views: 13299
Re: Inheritance Financial/Moral Dilemma
The key phrase is money that you'll need for yourself. I'll include in the definition of myself the needs / wants of DW who'll probably outlive me by several years. YMMVchicagoan23 wrote: ↑Fri Dec 22, 2023 8:15 am If you have money that you will never need for yourself, get rid of it while you are alive. As much as possible. Keeping it in your name just so you can control until your dying day does you no good.
- Thu Dec 21, 2023 10:32 am
- Forum: Investing - Theory, News & General
- Topic: The murky path to figuring out if you are saving enough
- Replies: 30
- Views: 4752
- Thu Dec 14, 2023 9:20 am
- Forum: Personal Finance (Not Investing)
- Topic: When Did You Feel Financially Secure and Comfortable?
- Replies: 134
- Views: 30070
Re: When Did You Feel Financially Secure and Comfortable?
Haven't got there, yet.
I'm 76. Retired for 13 years. Still concerned how the grandkids will get through college (Ages 10 and 7), if we have enough to last all the way for DW to live like she wants as long as she wants.
Maybe some folks need to feel slightly uncomfortable.
- Mon Dec 04, 2023 4:40 pm
- Forum: Personal Finance (Not Investing)
- Topic: Curious on your Opinion of Buying a Second/Vacation Home
- Replies: 35
- Views: 4854
Re: Curious on your Opinion of Buying a Second/Vacation Home
Rent your fantasizes.
- Mon Dec 04, 2023 8:15 am
- Forum: Investing - Theory, News & General
- Topic: Has your portfolio recovered since Q1 2022?
- Replies: 104
- Views: 13635
Re: Has your portfolio recovered since Q1 2022?
Some are QCDs, some are taxes, there are a few minor gifts / early distributions from the estate. The rest I waste by reinvesting in taxable. There are a few cruises planned for next year that were delayed through the Covid years so we plod along.cheese_breath wrote: ↑Sun Dec 03, 2023 3:28 pmAre you spending the RMDs, or just moving them to taxible investments?
PS: Thanks for the reminder that all things considered, maybe I'm not doing as poorly as I thought.
- Sun Dec 03, 2023 2:56 pm
- Forum: Investing - Theory, News & General
- Topic: Has your portfolio recovered since Q1 2022?
- Replies: 104
- Views: 13635
- Fri Dec 01, 2023 7:46 am
- Forum: Personal Finance (Not Investing)
- Topic: Money does grow on trees!!
- Replies: 12
- Views: 2229
- Thu Nov 23, 2023 11:29 am
- Forum: Investing - Theory, News & General
- Topic: Encouraging young investors to Stay the Course
- Replies: 31
- Views: 4093
Re: Encouraging young investors to Stay the Course
Years ago when I was saving for retirement, I remember writing an annual goal for the amount of money I should have in retirement savings by age (savings at start, annual additions to the total, average rate of growth, etc.) up to my retirement number. Fairly simple. Annual changes above or below the glide path were noticeable. Helped me stay the course. YMMVteacher wrote: ↑Thu Nov 23, 2023 10:08 am I hope I am crafting this questions so it is understandable.
At what general dollar amount will an investor see significant growth or loss?
I don't remember when change became noticeable.
The answer to this question could be a means of encouraging young investors to stay the course.
- Tue Nov 21, 2023 8:57 am
- Forum: Personal Investments
- Topic: How to help coworkers with retirement planning?
- Replies: 66
- Views: 7949
Re: How to help coworkers with retirement planning?
Retirement planning? Stay out of it.
OTOH, just recently I received an e-mail from someone I haven't heard from in 30 years. He thanked me for a piece of information I gave him during a chance exchange at the water cooler so many years ago. He claims it set him on the path to accumulating 3/4 of a
million by retirement. Don't know what I said so long ago. Guess it was really basic. But, it could of gone either way.
YMMV
- Mon Nov 20, 2023 9:04 am
- Forum: Investing - Theory, News & General
- Topic: 4% rule
- Replies: 20
- Views: 3735
Re: 4% rule
The "normal" safe withdrawal rates of 3% or 4% are calculated without any additional sources of income, so the assumption is that all withdrawals come from your portfolio. If you have additional sources of income like social security, you can of course increase your withdrawal amount so the percentage values with respect to your portfolio will be much higher in this case. That does not mean that the "normal" withdrawal rates are calculated too conservatively, it is simply a different kind of calculation. +1, I hope. I have a few additional streams of income - SS, pensions. I've come around to spending from those streams and supplementing from the RMDs as necessary. Anything leftover is reinvested in taxable. So far, it ...
- Thu Nov 16, 2023 8:46 am
- Forum: Personal Investments
- Topic: Is it best to never sell or to only sell when it's absolutely necessary during my entire index fund investment career?
- Replies: 12
- Views: 1808
Re: Is it best to never sell or to only sell when it's absolutely necessary during my entire index fund investment caree
Just to clarify the problem, I'll assume that you failed to include the fact that you already have a usually adequate amount of money in an emergency fund.
My AA is approximately 55/40/5. The 5 is in a taxable MM account. That amount of money came in handy when I had to fix a cash flow problem/mistake I made earlier this month. (I have been known to make a few doozies of mistakes from time to time.) Cut out the no other choice but to sell option, this time.
- Mon Nov 06, 2023 9:33 am
- Forum: Investing - Theory, News & General
- Topic: M* article "We Need to Talk About Your Retirement Spending"
- Replies: 27
- Views: 4296
Re: M* article "We Need to Talk About Your Retirement Spending"
Her key point is the value of giving (if you can) while you're still alive, which she illuminates with her own experiences. If you have a reasonable degree of certainty that you can afford to give, giving while you are alive does have its advantages. Benz relates receiving help with a downpayment on a house. I don't think she writes about anymore gifts. In our own case, we give something additional to the kids at Christmas. The general purpose is to mitigate any cat fights at the reading of the will and to distribute something if it all goes South before our demise. If there is a payoff in the form of a warm rosy glow from giving with a warm hand, I haven't experienced it, yet. As for charitable giving - we do get cold pizza and wine at ha...
- Tue Oct 31, 2023 8:56 am
- Forum: Personal Finance (Not Investing)
- Topic: What net worth are you targeting at age 90?
- Replies: 126
- Views: 17166
Re: What net worth are you targeting at age 90?
What assets do you plan to have "at the end of the simulation" I really don't know. My doctors are already cancelling some future wellness exams - colonoscopies, prostate, etc. - because if I get the associated diseases and cancers, I'll be dead before they kill me. So, 90 may be out of the question. Additionally, I'm anticipating DW to outlive me. And she has her plans for subsidizing charities, the grandkids college educations and leaving inheritances for the kids. I personally don't know how much will be left when I'm supposed to be 90 - but based on what folks are planning to do with the money, I doubt if it'll be enough to fund their hopes and dreams. BTW, when did my money become the money to fund their hopes and dreams?
- Tue Oct 24, 2023 12:23 pm
- Forum: Personal Finance (Not Investing)
- Topic: How are you preparing for your cognitive demise? [Financial aspects]
- Replies: 76
- Views: 9404
Re: How are you preparing for your cognitive demise?
Excellent strategy. Wishing you the best of luck.
Now of course there are tests for this type of thing. Some cognitive decline is age related and probably unavoidable to some extent. There are tests to see if you are ahead or behind the cognitive decline curve. I was diagnosed with mild cognitive decline. (Which helps explain a number of issues with some of my posts.) So, I'm ahead of you on the curve on the downhill slide, probably. Fortunately, with the seizures, I keep forgetting how far along I am so, I'm right there with you in denial as far as I can remember.
My suggestion is that you might want to make some sort of plans for this eventual decline.
- Wed Oct 18, 2023 4:30 pm
- Forum: Personal Investments
- Topic: Need Advice [Should I reinvest dividends?]
- Replies: 14
- Views: 1265
Re: Need Advice [Should I reinvest dividends?]
YMMV.
What we do with before tax dividends (IRAs, primarily) is to reinvest them. Then every year or so, we rebalance inside the IRA back to the desired AA.
With after tax dividends (not in the IRAs), we direct them to a money market fund and then reinvest them in after tax mutual funds at the end of the year - if there is anything left after expenses.
Edit - Now, reinvest or not? It depends. How close are you to your goals? Do you need the money for daily living expenses now? Lots of questions to answer in order to determine what you need to do with the money besides where to invest it.
- Sat Oct 14, 2023 4:44 pm
- Forum: Investing - Theory, News & General
- Topic: how do you explain theoretically that very few people beat the market long term?
- Replies: 76
- Views: 8799
Re: how do you explain theoretically that very few people beat the market long term?
I read that in the mid-90's. Simple enough for me to understand. And, I've been a total index investor ever since.arcticpineapplecorp. wrote: ↑Fri Oct 13, 2023 9:15 pm 2. You might want to read this short explanation by William Sharpe in his "The Arithmetic of Active Management":
- Wed Oct 11, 2023 7:53 am
- Forum: Investing - Theory, News & General
- Topic: What ratio are you stocks/bonds and how old are you?
- Replies: 449
- Views: 96092
Re: What ratio are you stocks/bonds and how old are you?
I'm 76. DW is 72. Retired 13 years. We are at 50/45/5 or thereabouts. So far so good. The decumulation phase of life / portfolio and inflation is causing some concern; but, we are staying the course - so far.
- Sat Oct 07, 2023 8:44 am
- Forum: Investing - Theory, News & General
- Topic: Some of my friends are hesitant to invest due to their low income.
- Replies: 85
- Views: 10205
Re: Some of my friends are hesitant to invest due to their low income.
OK OP, you asked. If I had been afraid to invest because of a low income, I wouldn't have invested at all.
Before IRAs, when dinosaurs roamed the earth, the company allowed one to invest 1% of your annual salary per year after you had been employed for a year. Annual salary was $7600. Over about five years I got up to 8% of the annual salary with a 50% match. I stayed at that level for the next 33 years. Retired with enough.
Getting moderately comfortable over time takes patience.
Before IRAs, when dinosaurs roamed the earth, the company allowed one to invest 1% of your annual salary per year after you had been employed for a year. Annual salary was $7600. Over about five years I got up to 8% of the annual salary with a 50% match. I stayed at that level for the next 33 years. Retired with enough.
Getting moderately comfortable over time takes patience.
- Sat Oct 07, 2023 6:49 am
- Forum: Investing - Theory, News & General
- Topic: Stocks are sinking, bonds are sinking.. where is the benefit of diversification ?
- Replies: 102
- Views: 13708
- Fri Oct 06, 2023 6:44 pm
- Forum: Personal Consumer Issues
- Topic: Should I give up on college?
- Replies: 77
- Views: 8729
Re: Should I give up on college?
And just for the next trivia contest, IIRC -arcticpineapplecorp. wrote: ↑Tue Oct 03, 2023 9:30 pm
Mark Zuckerberg and Bill Gates dropped out of college.
Don't think they really mind all that much, do you?
Thomas Jefferson didn't graduate from the College of William and Mary in Virginia. And the late Prince Phillip has been (mis?)quoted as saying "I never went to university. Fat lot of harm it did me."