^ I am the fiance and this whole conversation came up because I am going to max out my roth this year and he was like "Is this really the best option".

Then there was this debate sort of thing.

10/28/2007 8:27:43 PM

Quote :

"That leaves you a more comfortable $100k a year to live off of for the rest of your life. It's not like you'd be living the high life but you could probably make do."

i'm fairly certain if you're just "making do" on 100K per year, you're a damn fool when it comes to money. and i guess "comfortable" is relative, because i'd be quite comfortable at 55K a year

10/28/2007 8:55:57 PM

Not 55K in future dollars.

10/28/2007 9:04:11 PM

I think if you join the military or law enforcement you can retire after 20 years. You'd probably be better off working though.

10/28/2007 9:16:36 PM

^^that 50k was already assumed to be PV...the future value the first guy computed was 80k

10/28/2007 10:42:24 PM

Quote :

"At first things wouldn't be too bad but you'd be living around the poverty level for ~5-10 years until your social security kicked in."

i would not plan on relying on social security for any amount in retirement.

10/29/2007 7:22:24 AM

^^

Right, future value of 80K, present value of 50K, but I'm talking about 20 years after you retire

10/29/2007 7:59:02 AM

^^ I never expect to see it.

10/29/2007 8:03:48 AM

If you own your residence that significantly cuts the income you need to live.

10/29/2007 2:29:46 PM

If you're smart enough, save you're money when you can, it is certainly possible. My gf's Dad retired when he was 40ish, thanks to some excellent investing.

10/29/2007 2:45:00 PM

$100k is plenty to live off of now but in ~40-50 years that is not by any means a lot of money.

Especially when you consider healthcare costs have been far outpacing inflation with no real end in sight as of now.


You are making a serious error in judgement if you think you can comfortably live off of $50k for you and your spouse 40 years from now.


Also, why would I not factor in social security? It's not going anywhere. Who is going to be the generation to say "well i paid in but i don't care if i get paid out". Right now they have enough funds to last another 30 something years. It's a simple math problem, they'll just increase the retirement age again and more than likely increase the % a little bit to offset the dropping replacement rate. Don't buy into the sensationalism that social security won't be there when we retire.

What you need to realize is that the payout really can't outpace the growth of wages (~2%) so don't expect social security to be enough to live off of.

11/1/2007 9:20:06 PM

Quote :

"That leaves you a more comfortable $100k a year to live off of for the rest of your life."

What kind of annual investment return is this assuming?
During retirement...

11/1/2007 11:53:28 PM

im counting on 28217847847874879264.98 by the time im 40

[Edited on November 2, 2007 at 12:41 AM. Reason : sorry i worked 14 hrs today and im delirious]

11/2/2007 12:38:53 AM

^apology accepted

11/2/2007 1:04:53 AM

^^^

Enough so you can draw at least 4% a year and not eat at the principle.

11/2/2007 6:49:18 AM

Yeah the number most often used is 4% so that in the event the market has a downturn you won't draw it down so far that it can't recover.

Many retirees have been making one of two mistakes

1) having their investments set up very conservatively (100% bonds/short terms or close to it) and outliving their savings.

2) keeping their investments allocated ~40-60% in stocks but drawing off ~7% or higher per year to live off. Sure they've had no problems the past few years but when a bear market returns they could significantly draw down their savings and make themselves vulnerable to outliving their account.

11/2/2007 8:07:35 AM

Yeah bro this possible, start a business while you are still working, preferably online since it’s the cheapest to start up. Once your business makes more then your job then quit it and stick to your business full time. If a big company wants to buy you out and if the deal will support you for the rest of your life then take it. MySpace sold for several millions, YouTube sold for over a billion in less then 3 years, and Face book is worth like 10-15 billion right now (lol, overrated bubble 2.0 coming?) but I close my case.

[Edited on November 3, 2007 at 12:11 PM. Reason : typo]

11/3/2007 12:10:57 PM

I will buy yrey.com from you for $11

I doubt you will get such an offer again.

11/3/2007 12:38:35 PM

Lol, over 25000+ posts, ha-ha, I should hire you to do some data entry work, seriously pm me.

11/3/2007 2:27:08 PM

Oh, dear


The Lounge: When n00bs Get Uppity

11/3/2007 2:29:17 PM

^^your site front page has numerous typographical and grammatical errors

and you want to help people with school

gtfo of here

11/3/2007 7:35:43 PM

Chill out, it was a late project that I was working on late last year and I had other things to do so i put it on the backburner.

The site will be revamped mid in 2008 because I have tons of things that I’m working on now and required more work then I thought, its a good idea. Also, you need to learn about marketing, ask any direct response expert if correct spelling and grammar matters and you will be surprised at the response.

Also, I was giving advice to the op before the thread was hijacked by those two disrespecting one of my many sites (thanks for the free publicity) and they probably don’t even have one professionally done.... like mines.

Anyway, by the end of 2008 I will be retired and I will come back to this thread and show what’s up, ambrosia1231 its nothing wrong with having lots of posts, I was just referring to BobbyDigital who was throwing negative comments at my site for no apparent reason (must be bored). Anyway haters going to hate, and winners going to make ($$$). Peace to all.

11/3/2007 9:36:01 PM

You're seriously arguing that grammatical errors and a very poorly written first page isn't going to hurt your site?? Who the hell is going to take it seriously when there are flaws like that?? Get off your high horse and fix the shit if you expect real results.. it isn't that hard

11/3/2007 9:56:31 PM

I kid you not. Go ask Dr. Harlan Kilstein a world class direct response writer if correct spelling grammar matters most. His sales letters certainly are not grammar proof but that doesn’t stop him from charging a minimum of 20K per sales letter plus royalties, and that doesn’t stop me from selling 1000s of my own products and having countless of customers international.

No, correct grammar and logic don’t sell anything, appealing to a target market’s emotions is what bring in the sales. Jargon or big words doesn’t do nothing but confuse your audience, short sentences, small words, and verbs will help guide your audience to reading your entire message. I do agree slightly with correct spelling, but some of the best written sales letters had spelling errors in them as well, and will piss off any English professor.

If you are unsure what a sales letter is Google it, and don’t take my word for it find any successful copywriter or direct response professional and ask them what you asked me. FYI, I didn’t even put the homepage up as I have zero graphic designing talent and would happily farm out all of the work to those that are highly skilled at it.


While they were putting the homepage I was concentrating on the backend programming which was very extensive and brutal and took the majority of the time and resources of the project. Also, for the last time I’m not even promoting my site right now, I didn’t even realize that it was in my profile but if I was promoting it you would be hearing about it.


I and my developers are concentrating our time and energy on a very large custom software that I will use to upgrade and power the site mid next year, and then also sell it as an standalone solution from my brand. Software development can take years even for a high level programmer, and this software is going to be huge, but me and my team are young and skilled so we will get the application done in less then 6 months.


I decided to work on yrey because I had one of those aha moments and just had to get something finished, but my project management was piss poor and I had no long term focus then, just a short term goal that I was doing for fun. I stopped because I needed to focus more time on my school work. I’m kind of half and half about college because I know that very soon I wont need a degree because of my online business, but I believe that it will help me become more disciplined and teach me life experiences that I cant go no where else so I guess it will be worth the experience.

Ok, last here is my advice to the op, you can take it from someone who has been there and done that or you can throw it in the garbage… makes no difference to me. A lot of people say go into business about something you are passionate about and I say DON’T DO THAT! Go and find a market and then develop a product or service around that. The internet is slightly different then the offline world, and if you develop something that no one is interested in then you have just wasted time and capital, you stand a whole lot better chance finding what people want and then giving it to them. Peace.

[Edited on November 4, 2007 at 10:04 AM. Reason : None]

11/4/2007 10:00:06 AM

Stop hijacking this thread and go work on your lame website.

11/4/2007 10:03:24 AM

Ha, I just made a post and seconds later got a response from David0603 disrespecting my site (get out more bro), for the 1000th time it’s on the freaking backburner, I’m not working on it and have no desire to do so until my other projects will get done.

I didn’t even bring it into the thread and it wasn’t me that hijacked the freaking thread genius. I don’t have time for arguing over something as useless as this, all I was trying to do was shed some light to the op and then I got ambushed for no apparent reason. Anyway, peace to all.

11/4/2007 10:20:33 AM

Quote :

"get out more bro"

?

11/4/2007 10:24:19 AM

Quote :

"I don’t have time for arguing over something as useless as this"

Really? ^^^^

11/4/2007 10:32:39 AM

retirement simply means that you don't work anymore. You don't need a 401k to do that.

11/4/2007 11:36:55 AM

dont get married or have kids....kids cost tons and a wife does also. They drain you money, so what you get tax breaks, doesnt make up for all the other expenses, college(hope they are smart kids and get scholarships or you are screwed, just think of THAT cost in 18 years) Not to mention the wifey and her spending. Also throw in all the doctors appt, meds, etc.....

I work for the Feds and the best thing you can be is single and be able to move fast(career advancement) and not have anything holding you down...you can always get "married/live in gf/put down roots) when you are 40 something after you are established in your career/, and then perhaps kids......look at what the Stars are doing, having kids after their peak......

next 10 years career first for me. 30-40 is your main earning years

[Edited on November 4, 2007 at 2:26 PM. Reason : w]

11/4/2007 2:23:20 PM

would you really want to deal with the antics of a teenager when you're nearing 60

11/4/2007 2:27:41 PM

that is what boarding school is for......

11/4/2007 5:05:08 PM

^^^ Why can't the wife work?.....

11/4/2007 6:15:10 PM

Yeah, dual income would make early retirement much easier.

11/4/2007 6:51:47 PM

Get life in prision


It may not be the best, but you don't have to worry about a roof or bills.

[Edited on November 8, 2007 at 8:48 AM. Reason : or getting laid]

11/8/2007 8:41:07 AM

Options trading!

11/8/2007 8:49:32 AM

Quote :

"if you develop something that no one is interested in then you have just wasted time and capital,"

clearly, you're speaking from experience. I hope you follow your own advice, sport.

Quote :

"kids cost tons and a wife does also"

what's the point of having anything if you have no one to share it with?

Also, now that we're no longer living in the 1950's most families are dual income households.

11/8/2007 10:05:07 AM

I work for a hospital so I have the option of a 403(b) or a Roth 403(b). Considering I don't make that much money and I'm 24, I'm thinking of going with a 403(b). My question is, what happens when I stop working for this place and work someplace else that may or may not be a hospital or educational institution? Can I transfer the money or what?

11/13/2007 2:11:53 PM

What are the options for a 403(b) when switching jobs?
1. Move the money into your new employer's 403(b) plan. Note, as of 2002 a 403(b) can be rolled into a 401(k) and vice versa. Not all plans allow such transfers, so check with your employer (former and present) and plan provider (former and present).
2. Roll it into an IRA. See: Rolling a 403(b) into an IRA
3. Leave it where it is, especially if you like your investment choices. If the balance is below $5,000 some employers require you to move the money. Check with your employer.
4. Take a lump sum payment. Beware! This is not Wise at all. This will trigger all kinds of fees and penalties, and worse, ridicule and scorn from your Wise friends.

[Edited on November 13, 2007 at 2:17 PM. Reason : ]

11/13/2007 2:15:08 PM

^^ why don't you ask your HR dept

11/13/2007 2:18:16 PM

bttt

2/15/2008 9:41:39 AM

Quote :

"Most beautiful women are superficial; at least I'm being up front about it. I wouldn't be searching for these kind of guys if I wasn't able to match them - in looks, culture, sophistication, and keeping a nice home and hearth."

what a whore.

2/15/2008 9:51:44 AM

ty omar

2/15/2008 11:32:57 AM

Quote :

"If it were this easy, don't you think everyone would be retired by the time they're 35?"

2/15/2008 11:37:11 AM

I think my edge is in my discipline. I do not personally know anyone else that consistently saves the percentage of their income that I do (roughly 75%). In addition my current assets are appreciating well. I do not necessarily believe I will achieve my retirement by age 35, but I am optimistic.

In any case, the focus of this thread is not to determine the ability to retire at that age. It is to determine how best to invest my assets with that aim in mind.

2/15/2008 11:45:38 AM

75% of your gross ???

2/15/2008 11:48:25 AM

75% of my net after taxes. Taxes themselves take about 25%.

And yes I'm aware that I am a cheap ass.

[Edited on February 15, 2008 at 11:49 AM. Reason : .]

2/15/2008 11:49:20 AM

That's a good start. I still think you and Amelia should at least max out your roth iras. I know you don't like the idea, but if you really are saving that much then what's 5K in an ira each year. Plus you may withdraw up to the total of your contributions without tax or penalty. You still have time to each put away 4K for 2007 too.

2/15/2008 11:54:24 AM

Quote :

"I think before you do anything else you need to cash a reality check."

Lets say you do have enough to get by, according to your current lifestyle and current market prices, at age 40. Do you really want to risk unforeseen changes in the economy and end up having to go back to work when the rest of us are retiring? If you want to take a few months or even a year off to do something fun like a round-the-world trip, then maybe you should plan that between jobs at some point. But if you just want to continue living on the cheap from age 40 and beyond, what is the point? Are you going to just sit on your ass and wait to die?

2/15/2008 11:56:34 AM

Yeah, I'd much rather work longer and have a more lavish retirement than sitting around in a shack playing bridge all day.

2/15/2008 12:00:11 PM