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Post by tkasper01 on Sept 9, 2021 17:34:14 GMT -5
I am in good shape monetarily but could always do better. Only debt is student loans and a mortgage. 51 years old and a good retirement fund but as much as I would like to I will be working a bit longer.We intend to do something. Something we can do together that is easy and fun. Nothing more than part time for sure. I want to keep busy and make a few shekels. Only for a few years then go total retirement. I want to be able to pay for our travel without draining the retirement money too quickly. |
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Post by southparkcpa on Sept 9, 2021 19:58:46 GMT -5
I can tell you, as a CFP who does this for a living and actively thinking about retirement personally, I am super impressed by
The recent posts.
Retirement is as much psychological as it is fiscal.
Good stuff for a bunch of ignorant old guys…. 😂🤷👍
BTW…Mr repulsion, American Funds sponsored a great study on the 4 percent rule…. Its more like 5.5 percent today.
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Post by vonrotten on Sept 9, 2021 20:14:07 GMT -5
When I was young if someone would have told me that one day I’d have a decent retirement fund and a house that’s worth more than I owe I’d have laughed in their face. I finally realize why homeownership is part of the American Dream. It opens up a whole world of financial possibilities that you wouldnt have without it.
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Post by Ff2 on Sept 9, 2021 20:46:12 GMT -5
I can tell you, as a CFP who does this for a living and actively thinking about retirement personally, I am super impressed by The recent posts. Retirement is as much psychological as it is fiscal. Good stuff for a bunch of ignorant old guys…. 😂🤷👍 BTW…Mr repulsion, American Funds sponsored a great study on the 4 percent rule…. Its more like 5.5 percent today. You mean we’re all not idiots? I always thought that 4% rule was way too generic anyway. People’s situations are so different. |
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Post by southparkcpa on Sept 10, 2021 4:30:52 GMT -5
I can tell you, as a CFP who does this for a living and actively thinking about retirement personally, I am super impressed by The recent posts. Retirement is as much psychological as it is fiscal. Good stuff for a bunch of ignorant old guys…. 😂🤷👍 BTW…Mr repulsion, American Funds sponsored a great study on the 4 percent rule…. Its more like 5.5 percent today. You mean we’re all not idiots? I always thought that 4% rule was way too generic anyway. People’s situations are so different. That study was done by a CFP in California named William Bengen. It assumed a 60/40 portfolio. Think Balanced index fund at Vanguard. I’m using a lot more dividend based ETSs now and using 70/30 as a general guide. I have MANY clients over 65 where I use 5 percent and their accounts are now much larger than when they started. Example, woman came to me with 600K 10 years ago. We were distributing to her about 28K a year. That account now has about 700K and now she is 74. I am distributing about 40K to her. |
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Post by southparkcpa on Sept 10, 2021 4:33:29 GMT -5
When I was young if someone would have told me that one day I’d have a decent retirement fund and a house that’s worth more than I owe I’d have laughed in their face. I finally realize why homeownership is part of the American Dream. It opens up a whole world of financial possibilities that you wouldnt have without it. What’s interesting is that I never include the house in someone’s planning process. Yes it’s nice, my home is worth a ton but I’d have to sell it. Where would I go? The real gem is when your accounts hit 7 figures and a 10 to 20 percent market increase generates HUGE increases. Client of mine in his 50s has about 4 million. Took out 500K to buy a beach place, back in December 2020. His account is now 4.5 million and he has the beach place. He went from 4 mil to 3.5 mil saying that he wants to enjoy his life. Now he has 4.5. Crazy. It’s remarkable what a good market, good investments and discipline can do. |
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Post by JetRepulsion1 on Sept 10, 2021 9:42:00 GMT -5
When I was young if someone would have told me that one day I’d have a decent retirement fund and a house that’s worth more than I owe I’d have laughed in their face. I finally realize why homeownership is part of the American Dream. It opens up a whole world of financial possibilities that you wouldnt have without it. What’s interesting is that I never include the house in someone’s planning process. Yes it’s nice, my home is worth a ton but I’d have to sell it. Where would I go? The real gem is when your accounts hit 7 figures and a 10 to 20 percent market increase generates HUGE increases. Client of mine in his 50s has about 4 million. Took out 500K to buy a beach place, back in December 2020. His account is now 4.5 million and he has the beach place. He went from 4 mil to 3.5 mil saying that he wants to enjoy his life. Now he has 4.5. Crazy. It’s remarkable what a good market, good investments and discipline can do. Yes - once your portfolio reaches a certain point the gains (and losses) with market swings is amazing. Luckily, the market over the past 12 years (and especially the last 5 or 6) has been on an absolute tear other than a few dips here and there. In fact, I have a lot more than I did the day I stoped working and collecting a steady paycheck over a year and a half ago. But, one of the scary things is that it will end at some point (it has to) and we just have to hope that doesn’t last for too long of an extended period. Although, the good things about the 4% rule (or 5.5% - I definitely like that better 😀) is that it holds up during all market conditions over time. |
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