Retirement schemes and fables

viking1

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Read books about how the rich see money diferently from the middle-class. If all you are doing is working and saving, you are doing something wrong. If you never borrow money, you are doing something wrong. I won't go into greater detail because you are not likely to believe me, and I am not yet in a position to teach anyone what I've learned. I will only suggest you make google, a public library, and a discount bookstore your new best friends. Also, don't let people who are not rich tell you what to do with your money (which brings me back to me not going into greater detail about what you should be doing). If your banker isn't rolling in it, take his or her advice with a HUGE grain of salt, and keep looking and learning.

I would really like to hear more about this!
 

SpeedoGuy

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Once you're retired, I'm sure the Iraqi people will be lined up to thank you for paying for their thriving democracy with what would have been your social security. :rolleyes:

OMG that's possibly the best characterization of the Bush administration's pet clusterfuck I've read yet.
 

transformer_99

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Read books about how the rich see money diferently from the middle-class. If all you are doing is working and saving, you are doing something wrong. If you never borrow money, you are doing something wrong. I won't go into greater detail because you are not likely to believe me, and I am not yet in a position to teach anyone what I've learned. I will only suggest you make google, a public library, and a discount bookstore your new best friends. Also, don't let people who are not rich tell you what to do with your money (which brings me back to me not going into greater detail about what you should be doing). If your banker isn't rolling in it, take his or her advice with a HUGE grain of salt, and keep looking and learning.

I agree here to some extent, you can't get ahead if you don't take the risk, but hedge your bets and play with other people's money in the riskier opportunities. I see so many people going into debt for things that never have a realistic shot at being successful. It's about being smart over what you go into debt for. Too many of the get rich schemes are designed for someone else to get rich. As for the banker not rolling in it, that doesn't exactly mean they don't know how to make money, not everyone is offered the ground floor opportunities others are. Some get sweeter deals than others for a reason, who they know and so on.
 

Wyldgusechaz

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I found a site that explains this much better than I.

Determining Your Post-Work Income

The Demise Of The Defined-Benefit Plan

And it is true as so astutely noted above you need $850,000 to retire at $50K a year. Getting to $850K is the trick.

This is dry boring stuff I realize and its hard to focus on something that may not affect you for 30 years or more but this is a paradigm shift in how our retirement years will be protected. Not to belittle Valerie Plame testimony or Scooter Libby or firing of US attorneys, this absolutely will affect lives in a very direct manner. Working because of need till one is 75 is not a fate I would want for anyone.