Home Forums Hunting & Shooting Hunter's Campfire Millionaire.

no debt period.....free and clear everything, toys and all...I think should be the goal of regular people who want to retire.....bob

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.

Only way to fly. I reached that goal at age 42.

In some locales for sure. The ones I’d want to live in anyway. Guy on Long Island retiring told me his property taxes alone are $24k a year.

My friend was worth, depending on the market, between $700 million and $800 million years ago. His dad passed away and left him an average sized bank, which he sold for an additional $96 million.

Easily the most paranoid and depressed human I’ve ever met.

Goddam🤯

I’d rather have passive income/liquidity than equity i couldn’t tap. Lots of land poor millionaires living at welfare levels. Net worth is worthless if you can’t afford your grocery bill.

I about shot when he told me that. He bought a lot down here for $45k told me in Long Island it would bring $450k. They’ll sell their house up there, move down here to a house twice as big and pocket a million to retire on plus pay 1/10th that in taxes. That’s the reason red states are turning blue. Libs can’t afford the policies they voted for.

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Agreed.

I like JG’s math.

Yup. I read that. I was replying to Calvin.

It seems under Trump CD's paid a bit less.

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.

Some people can't handle money very well. I am reminded of a case in Los Angeles about 25 years ago. A black gangsta in one of the Blood sets, a former prison inmate, sent to the slam for dealing dope, was out of prison on parole, living in South Central. He bought a couple of lottery tickets, became lucky and won several million $$$$$. Within a year, he was back dealing dope, was again arrested and sent back to San Quentin.

Even though he'd won all that money, blown much of it , he just could not stay our of "the Life."

FWIW.

L.W.

Yeah net worth is a bit misleading when it comes to wealth given the recent rapid appreciation in real estate.

Stealth Wealth...yeah it's real.

Maybe if I live to 200.

One of the first 50M lottery winners in Fl, back in the 80s IIRC, was won by a woman, took the annuity, no choice back then.... 2.5M a year for 20 years....

Had to go to a financial advisors after a year or so, she was going broke!?!?!?!?

First thing he said was OK Mrs Jones first thing your going to do is STOP buy $3,000 worth of lottery tickets every MONTH!?!?!?!?

People that have never had to manage a lot of money often don't need to try!!!! At least without some guidance.

YMMV

We live rather modestly, drive cars til the wheels practically fall off......

Drove the Cherokee to the dealership this past July, after driving the new car, salesman asked is there anything we should know about the Jeep????

IDK I said, it's 15 years old and 280K miles..... He said it won't start!! I tried several times, it didn't.

I abandoned it at the dealership, they still gave me 1K trade in! Only time I thought I won at the dealership!

Probably DIDN't, but it felt like I did,,,,,

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.
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

Mom had some coin back in 1980. Carter's econ0my was paying her 18% on her money.
I ain't lying.