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How to Save $1 Million for Retirement »

Posted by: Mattman12345 2 years, 6 months ago

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Breaking through. Suppose you expect eventually to earn $80,000 a year. Looking ahead to retirement, you reckon that -- in addition to Social Security -- you will want maybe $45,000 a year from your portfolio, adjusted for inflation.

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Mattman12345

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Comments: 8

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JohnChasWebb
May 20, 2007, 11:42 p.m.
Re: How to Save $1 Million for Retirement
Hmmmm... reminds me of the guy who invested $2,500 in the stock market and then went to live on a deserted island for 30 years. After 30 years he went back and cashed in his stock portfolio which was worth $1,087,000.
He was so happy that he telephoned (from a pay phone) an old friend and spoke with him for 10 minutes. He hung up the phone and the operator called him back and said that "the call went over the three minute limit and would he please deposit $42,000." :)
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NelsonR
May 20, 2007, 11:57 p.m.
Ride a bike and the savings will amaze you. Gas along with inflation is on the rise yet our Government promotes lies by saying inflation is in check. Ate out the other night with my wife and had a plain old breakfast meal. Thirty two dollar tab for something that cost twenty last year at the same place. Inflation is under control, yeah and Bush is a good and respectable president.
Now if they say wages are flat, I will agree along with the rich becoming richer. Republicans are a despicable breed.
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worthlesswhiteman
May 21, 2007, 9:01 a.m.
Big d*mn deal. I'm 40, I have saved $180K, I have $250K in equity in my $480K house. I'm dirt pour, barely make the mortgage, vacations are meger.
It'll be like this my entire life. The baby boomers will continue to consume as if there is no tomorrow. Inflation will go wild. Just look at all the fools out there driving SUVs and Hummers, driving gas prices out of the sky.
Boomers are a disgrace and cause us all financial misery.
Avg rating: (+4/-0 4)
nostalgia
May 21, 2007, 9:29 a.m.
"I'm dirt pour, barely make the mortgage, vacations are meger. It'll be like this my entire life"
I hate to ask BUT if things are that bad, why are you in a $480K house? Aren't you consuming a lot of electricity etc in that house?
How are boomers causing you financial misery? Aren't you making your own choices about how you live?
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worthlesswhiteman
May 21, 2007, 10:22 a.m.
Bad is a relative term. I'm simply saying that money ain't worth what it used to be. Devaluation is caused by inflation. Inflation is caused, in part, by over consumption. Real estate prices are out of control. $480K in the metro Washington DC area is nothing. Current financial problems are caused by overconsuming boomers who expect to spend it while they make it and then have someone else pay for their retirment....now if that ain't clear enough as to what the problem is then I hate to say you'll need to get a grip.
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starsonstars333
May 21, 2007, 1:47 p.m.
When I retire, which will not be for a 30 some years. A million dollars probably wont even be that much money
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worthlesswhiteman
May 21, 2007, 4:55 p.m.

A million is truly not much anyway. Look how fast the rich have earned it. But you'll wait a lifetime little boy.