This video was a request video, specifically about retirement planning in the military. However, I realized some of the lessons here are applicable to pretty much everybody and would prove useful to most:
4 comments:
Merlin
said...
Cap, I think you have a broken link here somewhere.
there's another way to retire at 60 or before, live on less. i can retire now,in my 40s and i'm not a millionaire; because i dont have the latest ford mustang, latest flatscreen and latest iphone and considering the economic future the usa has put in front of itself; we may have to live on less.
the rule is you need a 4% savings withdrawal rate, if you can live on 3 or 2; retirement becomes much easier.
link that shows what you can get to by your desired retirement: http://www.dinkytown.com/java/InvestmentDistribution.html
link that shows what you savings will last to: http://www.mycalculators.com/ca/retcalc2m.html (change % you withdraw annualy to see how to retire earlier)
i'll have to go wiht 3% or less. also consider that things will cost more, most likely, thanks to continued fed and gummint interference. it may take much more money to just live at a lower standard than now. also suggest not traveling constantly, unless it is in a paid-for rv.
I have thought for some years that I will probably die of starvation. Yes, we have lived relatively frugally, but if Social Security goes down, the pension plans and bank accounts will also most likely disappear.
I think it is insane that any of Social Security payments are tax exempt. If people only get SS, they would never have to pay taxes anyway. Also when FICA income is below pay-outs, payments should be reduced. Too late now, though.
And, health care can be virtually eliminated if we waterboard a bunch of medicos and make them read the Atkins Data showing elimination of most 'old age' illnesses. And, teach people to go low carb.
My probable solution is to get Mexican citizenship, and our house here in the Third World village can be modified to rent a number of pension apartments for people working at the local government hospital. Those rents should keep us from starving, or at least I hope so.
4 comments:
Cap, I think you have a broken link here somewhere.
there's another way to retire at 60 or before, live on less. i can retire now,in my 40s and i'm not a millionaire; because i dont have the latest ford mustang, latest flatscreen and latest iphone and considering the economic future the usa has put in front of itself; we may have to live on less.
the rule is you need a 4% savings withdrawal rate, if you can live on 3 or 2; retirement becomes much easier.
link that shows what you can get to by your desired retirement: http://www.dinkytown.com/java/InvestmentDistribution.html
link that shows what you savings will last to: http://www.mycalculators.com/ca/retcalc2m.html (change % you withdraw annualy to see how to retire earlier)
i'll have to go wiht 3% or less. also consider that things will cost more, most likely, thanks to continued fed and gummint interference. it may take much more money to just live at a lower standard than now. also suggest not traveling constantly, unless it is in a paid-for rv.
I have thought for some years that I will probably die of starvation. Yes, we have lived relatively frugally, but if Social Security goes down, the pension plans and bank accounts will also most likely disappear.
I think it is insane that any of Social Security payments are tax exempt. If people only get SS, they would never have to pay taxes anyway. Also when FICA income is below pay-outs, payments should be reduced. Too late now, though.
And, health care can be virtually eliminated if we waterboard a bunch of medicos and make them read the Atkins Data showing elimination of most 'old age' illnesses. And, teach people to go low carb.
My probable solution is to get Mexican citizenship, and our house here in the Third World village can be modified to rent a number of pension apartments for people working at the local government hospital. Those rents should keep us from starving, or at least I hope so.
Anonymous age 71
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