Home Forums Hunting & Shooting Hunter's Campfire Millionaire.

40k a year with no debt is a lot and easy to live on. In the future this will be almost impossible to achieve.

Thanks boomers.

You’re welcome.

I've got an uncle you'd never know was one. He's pushing 90, stayed in the old sketchy part of town all these years in a paid for house. Literally just bought his first new vehicle ever as a treat to himself...a tacoma. Claims to have saved and/or invested 33% of every paycheck he had ever made, he was GT grad in chemical engineering, traveled the world for chalk companies and ran plants. Had millions but so stingy he wouldn't even buy my aunt a clothes dryer, she had continue using the clothes line. Has given the max gift to all 6 of his grandchildren each year since they were born, so they left HS with a nice little next egg. When he kicks the buckets, leaving each daughter a cool mil and each grandkid 500k. Aunt died from brain cancer in the 90s and he remarried, he spoiled the next wife and it was bad subject for the daughters. She got to enjoy his successes and not their mother.

Now my other uncle was one too, VP at Abbott and ran between all their international offices and facilities. His kids never wanted anything, and they ended up being two of the most liberal jokers in the family and married other liberals too. Lets just say one works for the DA in Fulton county. One has already blown through about 6 mil of his inheritance. Uncle is dead now so glad he's not around to see it but I'm sure he would be missing those grandbabies.

The people who make it often have a hard time spending it. If it drops on your lap, it’s usually gone real quick. It’s funny how that works. Work.

I don't know, I'm not sure I could live like I'd want to on $40K/year. Without factoring in mortgages or vehicle payments my expenses are about $2500/mth or $32,250/year. Doesn't leave much for vacations, fishing tackle, whiskey and beer...

Anyone remember the TV show, The Millionaire"?

Anything a person has to earn is taken better care of than something that was given to them. Just watch a teenager who's given a car versus one who worked and paid for his own.

They still think they "earned" their SS.

It's sweet.

I knew an old rancher east of here, was an heir to the Phillips Petroleum fortune, that would straighten old nails for his hands to use re-building corral fences. He drove an 8-10 year old, beater Toyota pickup, most of the time.
His wife drove a nice Caddy, though. A very sweet, unassuming lady - and unpretentious.

I don't do the alcohol thing... but a Timex and older vehicles... I certainly check those boxes.

Heck, my favorite saying over the last 30 plus years... it sure is awfully expensive to be dirt poor nowadays.

Most of my relatives that others would consider 'wealthy' pretty much live the same way.

Last vehicle I bought new, was my 1988 4Runner.. still drive that one.. has 600K on it.
Got a couple of cousins, who still drive trucks they bought as far back at 1979.

but the wives still always get a new vehicle every 10 years of so.... My wife has started complaining about driving her 2004 Camry, as its got 200K on it. Guess it will passed on to me fairly soon. I'll buy her a newer vehicle, like a 2010 to 2012 or so....She only puts around 7K a year on a car... chuggin around town, and commuting 6 miles to work at the hospital 4 days a week.

there has been lots of studies on where people feel comfortable ...retired ...on a yearly income, 75,000.00 a year seems to be a sweet spot. of course depends on where you live. quick math....1mil....you could draw 50,000.00 a year for 20 years with no interest. add in 25,000.00 ss per year.....interest stretches it out....also depends on how much you want to leave behind. I have taken pretty much all of my big ticket items off when I was working....couple left then it will be hunting and fishing locally and couple of different states, that's the way I planned it....also when you retire start off with new or fairly new cars/trucks, it may sound cool to be driving around with 350,000 on your truck...no thanks...bob

I'm no millionaire but I haven't made a house payment since '07 and it's been years since I made a car payment. You can live pretty well if you can keep everything you get.

Could be. Like you, both were never part of my retirement plan. That said, my first SS "check" is due tomorrow. I bought a Ruger Blackhawk that I'll pick up this morning to celebrate.

Social security will probably be kicking in at 70 when I get to that age.

I always thought 6k a month would be plenty doable when the kids are out of the house.

When you look at the statistics of what most people retire on, it shows it can be done on much less.

My plan is a mix of part time commercial fishing, rentals, leasing out my business, leasing out quota/permits, SS, and interest income.

Plan on staying on the boat until 55, then hiring my replacement until 65, then leasing the business.

I was going to get into rentals...I was a builder after all.....but for me I didn't see the upside, it looked like I would be making a job for myself. I know it works for others. good plan you have....bob

Leaving this world with money in the bank isn't smart!

I have never seen a Luggage Rack on a Hearse.

I already own one free and clear. I wouldn’t jump into rentals at today’s prices. And yes, it is a pain in the ass. If rent stays high it’s good income.

Just let people keep their own money. Don't need some fugked up govt program buried in adimistrivia to give your own money back to you after using it for 40 years to fund wars all over the world.

Awesome use of your check.

I’m all for this.
And I wonder how many people die before collecting SS, or collecting a significant portion of what they contributed. The theft by the government in SS from those who paid in over 30-50 years, is staggering.