Originally Posted by Calvin
Originally Posted by ironbender
Originally Posted by JGRaider
Originally Posted by ironbender
Originally Posted by Calvin
Originally Posted by JGRaider
A $Mil in the bank and no debt, a guy can still live pretty well.
Exactly.

All depends on what you use to calculate “million”.

Take out of the equation primary home equity and a retirement account you can’t touch and I would like to see the millionaire numbers.
$1M in liquid assets vs $1M net worth?

I specifically said $Mil in the bank. You can make 5.25% in a basic CD. Draw your $2900/mo SS, wife draw $1800 = $9075/mo.
Yup. I read that. I was replying to Calvin.

Yeah net worth is a bit misleading when it comes to wealth given the recent rapid appreciation in real estate.
Inflation in general is causing a lot of the “wealth” creation, sadly few recognize its relationship to purchasing power/value of the USD. People aren’t getting rich, they just have twice as many dollars that are worth 1/3 of what they used to be worth. If you’re retired you better have your wealth in assets that appreciate parallel to the rate of inflation.
I agree with Calvin, the equity you have in your primary residence, unless you’re planning on selling at retirement shouldn’t be considered when talking net worth for retirement purposes. Same with any other real estate that doesn’t generate income like second homes etc.
Originally Posted by local_dirt
Originally Posted by EdM
Originally Posted by BallotBoxBiology
If you dont have a milly by retirement and paid off house, you [bleep] up or got screwed along the way (cancer). Especially anyone retiring now. You had it damn good.

Using the 4% rule that's $40K/year today. Not much unless there is a pension in the mix. Of course social security will help. Twenty years from now?



Well, for one, I'm betting social security is either non-existent or looks a whole lot different. And Medicare.. Call it the way you see it. But, i'm already seeing a lot of pressure being put on healthcare here with the illegals. All these pricks know exactly where to go, how to word their begging, and maximize their free schit.
I’m 52 in a few months and SS/Medicare is not a factor in my retirement planning. If there’s something there I’ll take advantage of it, but I’m doubtful. Migrants will collapse it which is likely part of the plan

Last edited by jackmountain; 02/27/24.