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You have to have $1 million INVESTAbLE to retire on $40K
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Date: June 10th, 2019 2:27 PM Author: maniacal national You have to be a literal fucking millionaire to retire on a lower middle class income. A MILLION dollars gets you a used Corolla and the occasional night out at Chilis
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Date: June 10th, 2019 2:28 PM Author: maniacal national and that doesn't count "home equity" or the thousands of dollars in furniture, cars, collectable porcelain dolls your wife bought for some fucking reason, which means your real retirement number is TWO million, and again - this is to be lower middle clas (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38367907) |
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Date: June 11th, 2019 3:41 AM Author: nubile address faggot firefighter wtf i have a wife now? (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38371505) |
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Date: September 11th, 2019 5:51 PM Author: Splenetic chocolate gas station laser beams Home equity could count if a portion of it is convertible into rental income (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38820158) |
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Date: September 11th, 2019 5:55 PM Author: maniacal national lmao just rent out your spare bedroom to grifters and drug addicts on $ection 8 (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38820181) |
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Date: September 11th, 2019 8:09 PM Author: Splenetic chocolate gas station laser beams That's the spirit! (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38820854) |
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Date: June 10th, 2019 2:29 PM Author: Federal kitty cat menage This really is why we cannot get rid of Social Security. Sorry aspies, the free market doesn't work. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38367919) |
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Date: June 17th, 2019 10:41 AM Author: Territorial Lake Useless Brakes Bbw (Boomer expecting to maintain a lifestyle without working) (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38400211) |
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Date: June 17th, 2019 11:09 AM Author: Federal kitty cat menage There are no more jobs anymore, Boomer (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38400328) |
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Date: September 11th, 2019 8:09 PM Author: Spectacular nursing home nowag (guy who forgot that there stopped being a free market when SS was put into place) (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38820853) |
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Date: June 10th, 2019 2:33 PM Author: concupiscible zombie-like trump supporter business firm $40k a year is a lot
$18k on rent
$6k on food
Leaves you with over $1k a month to buy other shit |
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Date: June 10th, 2019 2:34 PM Author: aggressive set wrinkle how is $1k a lot? (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38367953) |
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Date: June 10th, 2019 2:37 PM Author: maniacal national cr plenty left over for a used Carolla, basic cable, and a weekly night out at Chili's (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38367968) |
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Date: June 10th, 2019 2:39 PM Author: Outnumbered Slippery Chapel Pistol You can go to Chili's every week or ball out of control at Chili's every other week. Choose wisely. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38367985) |
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Date: June 11th, 2019 3:45 AM Author: azure cerebral weed whacker applebees 2 for 20 you rich fuck (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38371508) |
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Date: June 10th, 2019 2:40 PM Author: Histrionic Bonkers Dilemma A single person who saved that much likely has 30k+ per year from SS. A couple will have more. And they likely have the house paid off. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38367986) |
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Date: June 10th, 2019 2:41 PM Author: maniacal national its simple math shitlib (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38367990) |
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Date: June 10th, 2019 2:42 PM Author: Histrionic Bonkers Dilemma Agreed. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38367993) |
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Date: June 10th, 2019 2:45 PM Author: Snowy Stage Legend Assuming we dont get social security (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368010) |
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Date: June 10th, 2019 2:46 PM Author: Histrionic Bonkers Dilemma Support your assumption. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368013) |
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Date: June 10th, 2019 2:52 PM Author: aggressive set wrinkle libs will give all $ to muds. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368070) |
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Date: June 10th, 2019 3:00 PM Author: Hateful fuchsia parlor (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368110) |
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Date: June 10th, 2019 2:49 PM Author: lascivious station athletic conference But SS isn't fully funded for us.
You think that will change? |
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Date: June 10th, 2019 2:51 PM Author: Histrionic Bonkers Dilemma Yes, it will almost definitely change. If it doesn't then ss pays out like 80%. It doesn't just stop. But they won't let that happen. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368060) |
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Date: June 10th, 2019 2:53 PM Author: lascivious station athletic conference There's no way it ends up being a flat 80% reduction. It would get gutted at the top. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368078) |
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Date: June 10th, 2019 2:54 PM Author: maniacal national cr oh you have an IRA? You don't *need* Social Security since you're provided for already (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368084) |
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Date: June 10th, 2019 2:57 PM Author: Histrionic Bonkers Dilemma More likely an increase payroll tax (that's what's in the retirement bill in the house right now). Or a vat, which I've been predicting on bort for many years. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368099) |
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Date: June 10th, 2019 2:58 PM Author: lascivious station athletic conference And maybe flatten out the payout formula. Average SS earnings of $133k now payout the same as $85k. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368106) |
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Date: June 10th, 2019 3:02 PM Author: Histrionic Bonkers Dilemma The retirement secure act would exempt more lower income from payroll tax, increase the rate to like 7.4 per side, and also tax income above 400k. That's what's on the table now.
Payouts would go up slightly, mostly at the low end.
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Date: June 10th, 2019 3:07 PM Author: maniacal national lmao at this technocrat mumbo jumbo, they're going to log into your Chase account and drain it (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368148) |
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Date: June 10th, 2019 3:15 PM Author: Histrionic Bonkers Dilemma Noooooooooooo (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368200) |
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Date: September 11th, 2019 4:44 PM Author: unholy wine temple feces (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38819705) |
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Date: June 10th, 2019 2:56 PM Author: Histrionic Bonkers Dilemma That's about what will happen if nothing changes. Look up the trustees report, they have a chart. It would pay out like 78%, and go up to around 82% over the next ten years or so. Don't remember after that.
But agreed they will close the gap by capping the top or adding new tax, or maybe both. |
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Date: June 10th, 2019 2:43 PM Author: Snowy Stage Legend Police Officers/Correctional officers get 4k pension after 20 years.
https://www.nycers.org/brochure/correction-officer-20-year-retirement-plan |
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Date: June 10th, 2019 2:45 PM Author: maniacal national they also get 1/2 off "first responder" discount at Chili's (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368006) |
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Date: June 10th, 2019 2:46 PM Author: Snowy Stage Legend Cousin will retire at 41. Likely get 4500 month pension and just ball outta control with 0 debt. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368019) |
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Date: June 10th, 2019 2:50 PM Author: Histrionic Bonkers Dilemma A lot of these local government workers are the ones who get zero ss, paid into pension instead of ss. Not as good a deal as some people think. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368052) |
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Date: June 10th, 2019 2:52 PM Author: lascivious station athletic conference Can I also have the deal where I pay a mere 5% or whatever of my salary in exchange for 40 or 50 years of pension payments? (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368067) |
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Date: June 10th, 2019 2:54 PM Author: Histrionic Bonkers Dilemma I'm just saying ss is a good deal for middle income people and you have to take it into account if you won't get it. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368083) |
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Date: June 10th, 2019 2:50 PM Author: lascivious station athletic conference Pensions are vastly undervalued by teens and college students. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368059) |
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Date: June 10th, 2019 2:51 PM Author: maniacal national damn teens (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368063) |
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Date: June 10th, 2019 2:52 PM Author: Swashbuckling selfie 'But where do I get the million dollars..?!' (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368068) |
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Date: June 10th, 2019 2:53 PM Author: maniacal national good news, it will take you 60 years to save it so you won't have to worry about "retirement" anyway (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38368079) |
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Date: June 10th, 2019 2:54 PM Author: Swashbuckling selfie *pumps fist* LIVING MY BEST LIFE |
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Date: June 17th, 2019 10:39 AM Author: maniacal national average US tax rate is 40% meaning you will actually need $1.8 million except whoops, haha, they tax it on withdrawal too so you'll need to pull out $70K annually to spend $40K (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38400201) |
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Date: June 17th, 2019 11:05 AM Author: Histrionic Bonkers Dilemma I don't know why but it's very hard for me to resist the flame when you guys say shit this stupid. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38400310) |
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Date: June 25th, 2019 5:56 PM Author: maniacal national #s don't lie (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38439391) |
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Date: September 11th, 2019 4:16 PM Author: maniacal national (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38819531) |
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Date: September 11th, 2019 4:26 PM Author: swollen carnelian roommate just tried to use the Fed's SS retirement income estimator and they couldn't find me. fk? (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38819602) |
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Date: September 11th, 2019 4:27 PM Author: maniacal national "I'm sorry, our records show that SSI will not exist by the time you retire. goodbye!" (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38819608) |
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Date: September 11th, 2019 5:50 PM Author: swollen carnelian roommate this sounds accurate. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38820154) |
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Date: September 11th, 2019 4:42 PM Author: excitant fiercely-loyal piazza This is why "retirement accounts" are for idiots who just want to subsidize the investment management industry.
You should instead slowly accumulate conservatively leveraged investment properties. Enjoy some passive income now, and by retirement age, the loans will be paid off and you can enjoy massive cash flow without touching principal and actually leave something nice for your kids. |
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Date: September 11th, 2019 4:46 PM Author: maniacal national work until you're 65 then massive coronary emboluism cr? (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38819714) |
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Date: September 11th, 2019 4:48 PM Author: bateful lodge jew you goys are such fucking morons. That wld be 40k plus whatever your SS is plus free medicare
and ljl at retiring in shithole USA
40k plus SS is INSANE living abroad
just stop being beta bitches, and also stop blowing money on shit u dont need ljl
1 mil is like top 10-15% retirement outcomes probably in TTT USA so put shit in perspective u dumb fuk spree shooting fat AZNgirl fuking maggots |
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Date: September 11th, 2019 4:54 PM Author: maniacal national in foreign lands you can do whatever you want with $40K!
*pays money to tour irradiated wasteland* |
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Date: September 11th, 2019 4:55 PM Author: bateful lodge jew retarded (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38819779) |
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Date: September 11th, 2019 5:54 PM Author: Histrionic Bonkers Dilemma Tommy speakin the truth and it hurts (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38820172) |
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Date: September 11th, 2019 4:52 PM Author: laughsome friendly grandma hell Guys you can pretty easily make 6 to 8 percent in local real estate with minimal draw down risk.
Also potentially tax free depending on how aggressive you want to be on your tax return. Can also make 4 percent in life insurance policies with no risk if you start when you are young and somewhat healthy.
Not flame. I’m been semi retired the past 2 plus years. If I had started earlier in real estate I could’ve been semi retired 8 years ago. |
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Date: September 11th, 2019 4:59 PM Author: unholy wine temple feces would appreciate you doing a lot more explaining
how to make 4% in life insurance policies?
howd you get started in RE? |
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Date: September 11th, 2019 6:08 PM Author: laughsome friendly grandma hell You can be a lender on real estate with a safe LTV and earn superior interest rate return relative to the draw down risk, i.e. hard money lending or investing with people who do that business locally. When done properly you can earn an equity like return with debt like risk (and if you know what you are doing in your local market, you can do it with close to zero risk). I'm in the flipping houses ecosystem in my local market and I got into that about 3 to 4 years ago.
Anybody in their 30s with decent health rating can make 4% in a permanent life insurance policy (assuming buying from a decent company). Most times, this will be backloaded on the IRR side depending on which company and which type of policy you get. Tax free and risk free. I have multiple of these policies I got one 6 years ago and then when I semi-retired, I joined the financial advisory boutique I bought my policy from and bought a bunch more and sell to clients (my client base is lawyers, real estate investors and doctors and business owners I meet randomly). |
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Date: September 11th, 2019 6:57 PM Author: Diverse double fault state CR
I find whole life insurance to be a very useful baseline to assess other investments -- if something isn't going to beat 4% tax-deferred over a long time frame with low volatility, then why bother when u can get that with minimal risk from insurance |
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Date: September 11th, 2019 8:07 PM Author: laughsome friendly grandma hell Also I like the hybrid long term care/whole life policies too. It assuages my general personality/way of life of hating to waste money/premium in case I never use the long term care before I die. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38820848) |
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Date: October 17th, 2019 9:58 AM Author: maniacal national 1.5 m now, thanks to inflation (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38990978) |
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Date: October 17th, 2019 10:17 AM Author: aromatic useless forum You don't live forever. Can deplete principal too. (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#38991039) |
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Date: October 25th, 2019 6:48 PM Author: Stirring cowardly point mad cow disease cr (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#39027333) |
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Date: October 25th, 2019 7:09 PM Author: dead stag film (http://www.autoadmit.com/thread.php?thread_id=4280083&forum_id=2#39027410) |