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Joined: Feb 2001
Posts: 4,043
Campfire Tracker
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Campfire Tracker
Joined: Feb 2001
Posts: 4,043 |
There is a farmer near me that has more money than God.
He farms a fairly large piece of ground and does it all with older machinery that he fixes/maintains himself. Still lives on the old home place and keeps it up nice.
Old International tractor pulling a 6 row planter. His neighbors all have new machines and huge disks and planters. I know who has the money....
Great old guy that knows how to make it work for him.
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Joined: Dec 2013
Posts: 23,686 Likes: 1
Campfire Ranger
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OP
Campfire Ranger
Joined: Dec 2013
Posts: 23,686 Likes: 1 |
Interest on a banked million is marginally enough today to carry a family through all of life's events. If one could get 8% return annually and not touch principle, that's only $80k, so the sail boats, planes, and Jaguars are likely out. One could squeak by, but would not be the talk of the town.
Cookie and I worked hard, saved some, have pensions, some IRA's, and social security, and are probably spending about a million bucks about every 11 or 12 years. We are comfortable, still saving some, but not living high on the hog by any means. Inflation is a concern too.
If I could time travel and return, I'd go to the future, look up my obituary, and come back knowing just how long my resources have to last. Could die tomorrow or last another 25 years. That uncertainty keeps me on the conservative side.
Win one of those substantial lotteries though, and I'd likely never post here again. I'd be way to busy traveling and doing sh-t. 8% on $3,600,000 would be $288k a year without touching principal. Not sure how realistic expecting 8% return over a long period is though. Figure 5% as an easy number, that’s $180k and still a reasonable amount of you don’t live crazy extravagantly.
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Joined: Dec 2013
Posts: 23,686 Likes: 1
Campfire Ranger
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OP
Campfire Ranger
Joined: Dec 2013
Posts: 23,686 Likes: 1 |
My best friend used to be a real estate broker. He said you would be amazed at the rich people in this town that are upside down on everything they own. He said you can never tell what someone is worth looking at where they live,what they drive, or the toys they have.
I used to hunt and trap on an old man's place and visited with him often.
He was a millionaire, He lived in a small house trailer overlooking Eleven Point River. Had a 14 foot jon boat tied up with a 7.5 mercury on it. He retired at 40.
He told me then everytime you make or get some money save some of it and put it to work. He was right. Wife worked at financial planners office for a year, there was a local doctor who took home over$700k a year and was tapped out on credit and was dipping into his 401k Wealth is relative.
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Joined: Nov 2007
Posts: 8,469 Likes: 2
Campfire Outfitter
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Campfire Outfitter
Joined: Nov 2007
Posts: 8,469 Likes: 2 |
I'm basically pretty rich and here's what works for me.
Keep driving your old vehicle.
Keep living in your old house.
Keep working and making money.
Keep living like a king at home.
Keep humble bragging about being rich. And watch out for the sudden appearance of brand new long lost relatives.
Anyone who thinks there's two sides to everything hasn't met a M�bius strip.
Here be dragons ...
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Joined: Nov 2010
Posts: 19,044 Likes: 2
Campfire Ranger
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Campfire Ranger
Joined: Nov 2010
Posts: 19,044 Likes: 2 |
Friend of a friend…
Oral surgeon…
Oral surgeon + something else.( i don’t recall ) not many are both.
Most down to earth fellow you’ll meet.
He’ll tell his story….
Literally came from a trailer park.
Grew up with ppl telling him “John, you’ll never be anything”
He’s successful now. But you wouldn’t know it talking to him.
Throws hella a crawfish boil each year…
Dave
�The man who complains about the way the ball bounces is likely to be the one who dropped it.� Lou Holtz
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Joined: Nov 2015
Posts: 15,106 Likes: 16
Campfire Ranger
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Campfire Ranger
Joined: Nov 2015
Posts: 15,106 Likes: 16 |
My best friend used to be a real estate broker. He said you would be amazed at the rich people in this town that are upside down on everything they own. He said you can never tell what someone is worth looking at where they live,what they drive, or the toys they have.
I used to hunt and trap on an old man's place and visited with him often.
He was a millionaire, He lived in a small house trailer overlooking Eleven Point River. Had a 14 foot jon boat tied up with a 7.5 mercury on it. He retired at 40.
He told me then everytime you make or get some money save some of it and put it to work. He was right. Wife worked at financial planners office for a year, there was a local doctor who took home over$700k a year and was tapped out on credit and was dipping into his 401k Wealth is relative. 😦
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Joined: Jan 2001
Posts: 30,926 Likes: 20
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jan 2001
Posts: 30,926 Likes: 20 |
My best friend used to be a real estate broker. He said you would be amazed at the rich people in this town that are upside down on everything they own. He said you can never tell what someone is worth looking at where they live,what they drive, or the toys they have.
I used to hunt and trap on an old man's place and visited with him often.
He was a millionaire, He lived in a small house trailer overlooking Eleven Point River. Had a 14 foot jon boat tied up with a 7.5 mercury on it. He retired at 40.
He told me then everytime you make or get some money save some of it and put it to work. He was right. Wife worked at financial planners office for a year, there was a local doctor who took home over$700k a year and was tapped out on credit and was dipping into his 401k Wealth is relative. 😦 well said EB
T R U M P W O N !
U L T R A M A G A !
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Joined: Sep 2003
Posts: 23,519 Likes: 13
Campfire Ranger
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Campfire Ranger
Joined: Sep 2003
Posts: 23,519 Likes: 13 |
Average person at retirement age has $476,000 in savings.
The financial industry will try to convince you that you have to work your entire life and have millions of dollars in a 401(k). That is so they can skim their percentage off the top and make money but the reality is you really don’t need as much as you think you do, if you’re not an idiot with money.
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Joined: Nov 2006
Posts: 1,024
Campfire Regular
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Campfire Regular
Joined: Nov 2006
Posts: 1,024 |
Average person at retirement age has $476,000 in savings.
The financial industry will try to convince you that you have to work your entire life and have millions of dollars in a 401(k). That is so they can skim their percentage off the top and make money but the reality is you really don’t need as much as you think you do, if you’re not an idiot with money. Empower says the average retirement account they oversee for people ages 65-70 is $185,858. That’s absolutely nothing! That’s just over $20k a year for 10 years when accounting for gains. Most Americans don’t save.
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Joined: Nov 2006
Posts: 1,024
Campfire Regular
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Campfire Regular
Joined: Nov 2006
Posts: 1,024 |
Jetboi you a millionaire? Depends on who you ask. Someone’s always got more money than you. To some, I’m nothing more than a peasant. The 415(C) limits are $69k this year, with an additional $7500 in the catch-up. I’m under 50, so I can’t do the catch-up, but I have been hitting the 415(c) limits for over 10 years.
Last edited by jetjockey; 02/27/24.
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Joined: Nov 2015
Posts: 15,106 Likes: 16
Campfire Ranger
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Campfire Ranger
Joined: Nov 2015
Posts: 15,106 Likes: 16 |
Ya under 50 myself I’m probly worth north of a mill😃
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Joined: Jan 2001
Posts: 30,926 Likes: 20
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jan 2001
Posts: 30,926 Likes: 20 |
Ya under 50 myself I’m probly worth north of a mill😃 Or Your wife's insurance policy ?
T R U M P W O N !
U L T R A M A G A !
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Joined: Nov 2006
Posts: 1,024
Campfire Regular
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Campfire Regular
Joined: Nov 2006
Posts: 1,024 |
Ya under 50 myself I’m probly worth north of a mill😃 Good for you. By the time I put money into 401k’s, brokerage accounts, 529’s, and back door the Roth, well, I’m pretty much paycheck to paycheck.
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Joined: Dec 2007
Posts: 25,117 Likes: 1
Campfire Ranger
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Campfire Ranger
Joined: Dec 2007
Posts: 25,117 Likes: 1 |
Buddies mom passed last year.
She worked for DeKalb co schools and retired in the mid 90’s.
His Dad died around 1980 and she was a single mom. Never remarried. Woman bought a new Crown Vic about every 10 years and that was about it.
Buddy about schit when he went through the finances etc….She had millions (as in more than a couple) dollars packed away.
Steady saving, some good fortune in investments, and living within your means has left a lot of wealth with a lot of the Boomer and Gen x crowd.
“Life is life and fun is fun, but it's all so quiet when the goldfish die.”
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Joined: Dec 2013
Posts: 44,578 Likes: 13
Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2013
Posts: 44,578 Likes: 13 |
Keep your 2nd house and your first wife, and with a little luck, you’ll retire a millionaire. Problem is retiring with $1 million in your 401k doesn’t really go that far these days. Go twiddle Schumer's wife's penis, you communist chkunt. You're not fooling anybody here and nobody wants you here.
Slaves get what they need. Free men get what they want. Rehabilitation is way overrated. Orwell wasn't wrong. GOA member disappointed NRA member 24HCF SEARCH
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Joined: Nov 2006
Posts: 1,024
Campfire Regular
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Campfire Regular
Joined: Nov 2006
Posts: 1,024 |
Keep your 2nd house and your first wife, and with a little luck, you’ll retire a millionaire. Problem is retiring with $1 million in your 401k doesn’t really go that far these days. Go twiddle Schumer's wife's penis, you communist chkunt. You're not fooling anybody here and nobody wants you here. I’m still living rent free I see.
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Joined: May 2016
Posts: 60,687 Likes: 41
Campfire Kahuna
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Campfire Kahuna
Joined: May 2016
Posts: 60,687 Likes: 41 |
Keep your 2nd house and your first wife, and with a little luck, you’ll retire a millionaire. Problem is retiring with $1 million in your 401k doesn’t really go that far these days. Go twiddle Schumer's wife's penis, you communist chkunt. You're not fooling anybody here and nobody wants you here. I’m still living rent free I see. What ever you got to tell yourself chickenshit fringe. Slink back over to DU.
I am MAGA.
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Joined: Aug 2005
Posts: 11,355
Campfire Outfitter
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Campfire Outfitter
Joined: Aug 2005
Posts: 11,355 |
Some of the poorest people I know have the most money.
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Joined: Dec 2013
Posts: 44,578 Likes: 13
Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2013
Posts: 44,578 Likes: 13 |
Keep your 2nd house and your first wife, and with a little luck, you’ll retire a millionaire. Problem is retiring with $1 million in your 401k doesn’t really go that far these days. Go twiddle Schumer's wife's penis, you communist chkunt. You're not fooling anybody here and nobody wants you here. I’m still living rent free I see. Nah. I just hate (and I mean HATE) liberal commie twats And I feel obligated to call your chkunt ass out every time I see you here. You're a pos and I like to make sure that guys who maybe don't come on here very often know exactly what a scumbag you are.
Slaves get what they need. Free men get what they want. Rehabilitation is way overrated. Orwell wasn't wrong. GOA member disappointed NRA member 24HCF SEARCH
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Joined: May 2016
Posts: 60,687 Likes: 41
Campfire Kahuna
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Campfire Kahuna
Joined: May 2016
Posts: 60,687 Likes: 41 |
Having absolutely zero regard for money will probably bite me in the ass some day.
Nothing I can do about it.
I am MAGA.
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