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#51
11-07-2005, 01:35 PM
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Re: How much money would you need to retire right now??
[ QUOTE ]
I have a cousin that's been a teacher for 3 or 4 years and he makes ~45. I'm pretty sure they start at 36 first year out. The ones who have been teaching for a number of years make closer to 70. [/ QUOTE ] This is all dependent on the district they live in. Also, they make more where it costs more to live. My mom has > 20 years experience, and 2 post-graduate degrees and makes just over 60k a year in one of the best school districts in the country. 
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#52
11-07-2005, 02:11 PM
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Re: How much money would you need to retire right now??
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With 30% interest (trust me, i have my ways), [/ QUOTE ] B U L L S H I T. That is all.
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#53
11-07-2005, 02:49 PM
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Re: How much money would you need to retire right now??
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[ QUOTE ] With 30% interest (trust me, i have my ways), [/ QUOTE ] B U L L S H I T. That is all. [/ QUOTE ] last time 30% was anywhere near a possibility was the early 80s
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#54
11-07-2005, 02:53 PM
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Re: How much money would you need to retire right now??
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[ QUOTE ] With 30% interest (trust me, i have my ways), [/ QUOTE ] B U L L S H I T. That is all. [/ QUOTE ] Come on. 30% is so easy. I made like 125% in 1999. [img]/images/graemlins/grin.gif[/img] The other point is that if you even have to think about going back to work, you can't retire for the purposes of this discussion. Otherwise I can retire on 5k. I just have to back to work at the end of the month. And as far as teachers salaries http://www.census.gov/statab/ranks/rank20.html so the your 2 teacher family makes between 64.8k-112.4k in 2003.
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#56
11-07-2005, 03:36 PM
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Re: How much money would you need to retire right now??
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[ QUOTE ] Its so insanse to me that youd need 100K/year. You must live a very expensive lifestyle!! [/ QUOTE ] IS IT INSANE BECAUSE YOU LIVE IN THAILAND? ARE THINGS CHEAPER IN THAILAND? HOW INSIGHTFUL [/ QUOTE ] [img]/images/graemlins/heart.gif[/img]
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#57
11-07-2005, 08:19 PM
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Re: How much money would you need to retire right now??
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[ QUOTE ] [ QUOTE ] [ QUOTE ] [ QUOTE ] [ QUOTE ] Enough money to make me $100,000 a year from the interest alone... let's say I invest it at 5% (conservative estimate) I'd need $2 million then. But $1 million would probably be good enough anyway. [/ QUOTE ] Its so insanse to me that youd need 100K/year. You must live a very expensive lifestyle!! [/ QUOTE ] Somehow, I don't think he'd be flying around in his private jet, dividing his time between staying in his various mansions and going on lavish vacations. It's not like Robin Leech is going to come calling on him or anything. A married couple both working as public school teachers probably make an amount similar to this. Do you think most teachers live a very expensive lifesyle? [/ QUOTE ] i thought OP wasnt about a couple but about just him without kids. i think 100K/yr is alot for one person. Maybe not alot for someone living in a very expensive city like NY or LA though. How big of a house is a single guy living in? where is he spending all of his money? [/ QUOTE ] Where I live, a single guy making 100k a year, is doing very well. Could easily afford a nice 3-4 bedroom house, 60k+ car, and have a lot of money left over to have fun with. An emigrant direct account @ 4% interest, w/2 million yields, 80k. I think that is decent income for the rest of your life. Ecspecially if you currently play Pokeher, you could add a lot on to that initial principle. [/ QUOTE ] 80k is taxed. [/ QUOTE ] Not only that.. if you spend all your interest each year (minus taxes) you will never build the principal. Given inflation do you think 100,000 a year would be as comfortable 30 years from now? Give me 10 million - at the conservative estimate of 5% per year I spend the equivalent of 200k a year pre tax now. (Even then I would lack something I may want in the NYC area) put that additional 300k towards the prinicipal so that the next year I would have enough to get a cost of living increase of 5%.. etc. It could be substantially less if you plan on spending down the principal as well... but given medical advances and the fact you will have some advantages (having more money and no stress for work) you may want to shoot the estimated years to go a bit high. In any case it would be nice to be able to leave all the principal behind (which would build slowly as well) so your kids wouldn't have to work if played right as well.
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#59
11-07-2005, 11:39 PM
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Re: How much money would you need to retire right now??
You people are crazy. First of all, getting a 5% return on investments year in and year out is not an easy thing to do. That is not retiring. You can expect about a 1% return on average, and that's not including taxes. I would want around 100K a year in interest after taxes so 15 million taxed right would be sufficient to live on interest.
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#60
11-07-2005, 11:41 PM
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Re: How much money would you need to retire right now??
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You people are crazy. First of all, getting a 5% return on investments year in and year out is not an easy thing to do. That is not retiring. You can expect about a 1% return on average, and that's not including taxes. [/ QUOTE ] Huh? I agree 5% is a little high if you are concentrating on "safe" investments, but 1% is definately too low. Hell, even for a savings account that is low.
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