Re: Financial Goal Question
 

Is that 4% growth rate above inflation? For most retirees it isn't that much of a concern, but if you're going to live 40 years past retirement, it becomes much more of one.

-d

Re: Financial Goal Question
 

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Is that 4% growth rate above inflation? For most retirees it isn't that much of a concern, but if you're going to live 40 years past retirement, it becomes much more of one.

The 4% "safe withdrawal rate" is a real rate. You can withdraw 4% each year, plus an additional amount to adjust for a rising cost of living (inflation). The idea is to maintain your current standard of living for your entire retirement, and make sure your portfolio is not depleted before you die.

-d

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Re: Financial Goal Question
 

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Do you rent your place, or own it? If you rent, and you know you're going to be in that area for at least a few years, buying something quickly. Having a down payment is nice but doesn't offset the lost equity from waiting until you can accumulate one.

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I own a 230K "condo" (3 bed/2 bath) and pay $1700/month (including cable/homeowner dues etc.). Once I propose to my girlfriend/oprah, I hope to have her pay close to half of that (or at least cover some other bills).

I plan to upgrade to a "house" in the next 3 years. I have only been paying a mortgage since March.

Re: Financial Goal Question
 

[ QUOTE ]
Is that 4% growth rate above inflation? For most retirees it isn't that much of a concern, but if you're going to live 40 years past retirement, it becomes much more of one.

-d

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This is the part I'm afraid of, I plan on living at least until 70, so I'm looking for a way to live without working for the last 30 years of my life.

Re: Financial Goal Question
 

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I own a 230K "condo" (3 bed/2 bath) and pay $1700/month (including cable/homeowner dues etc.). Once I propose to my girlfriend/oprah, I hope to have her pay close to half of that

[/ QUOTE ] ROFLMAO

Re: Financial Goal Question
 

I understand what is so hilarious...but seriously, do none of your women help out with the bills? I've already talked to my girlfriend about our financial situation and it looks pretty good to me. *shrugs*

Re: Financial Goal Question
 

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I understand what is so hilarious...but seriously, do none of your women help out with the bills? I've already talked to my girlfriend about our financial situation and it looks pretty good to me. *shrugs*

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Aaaah, young grasshopper. Sooo much to learn.

Re: Financial Goal Question
 

We're a jaded bunch of sons of bitches here. Seriously though, if your girlfriend isn't some materialistic shopping whore with all her credit cards maxed out and if she has a job bringing a similar income to what you are, I really don't see any huge red flags, for now. Obviously this will change greatly if/when you guys decide on kids. Not only will you lose her extra income but you'll end up spending a small fortune on baby related crap.

I think the advise about finding a financial advisor seems like a good one.

Swede

Re: Financial Goal Question
 

don't listen to these people, I'm married now and we still split mortgage payment, dinners etc. it depends on your woman, that's all there is to it.

--turnipmonster

Re: Financial Goal Question
 

Two ways to try this imo.

1. Get a good paying job and live at a lower level in relation to your wage. Save like crazy and invest in safe stuff hoping your money will retain its value. Retire and live very cheaply like RV vacations no season tickets to sporting events ect. Just get by but do no "work". This is self-weighting and I don't like it myself but it is safe and boring and will work.

2. Get a good paying job save up a chunk of cash 50-100K. Look for high-risk investments that have high payoffs. Find an edge push it and hope. If you hit it you are on your way just repeat risking less on each pick but picking more investments. If you miss and go bust return to work/save till you got a chunk of cash again. This is non-self weighting. Unlike example 1 this is NOT going to work every time for everyone.

Best option would be to assume a non-self weighting attitude, get a job you love, live below your means, and never risk enough on your high risk investments that you will be mentally upset with losing the money.

I know several very rich people who could have retired at 30. They are still working, some are over 70, and one is 94. The ninety four year old owns a building I rent. He came to inspect the roof as I had complained it was leaking. He climbed on top of the roof, 2 story building, to try and fix it himself. Cheap sob, great guy, and smart enough to own not rent. [img]/images/graemlins/crazy.gif[/img]