Are you "lucky"if you have a secure retirement?

[TomSeller]

I interrupt that as you lost, no big deal, saving and investing never stops at my house. My father-in-law always told me, money, that makes money, that makes money, is how to invest. Anyone in the US no matter how small an income can become wealthy if you start early, and take the slow and steady approach. Marry and stay married, don't have kids to young, keep putting some money away and don't touch it. It's a marathon, forget get rich quick stuff. My experience is those looking to get rich quick are always those with the least. HS

I absolutely have not lost. Please give us your real total. I have a hard time thinking anyone could take the political positions that you have with a modest $4M. That is one trouble with the hard right, they think someone with a few million benefits from the hard right politics. Don't get me wrong, good for you for saving $4m, if that is what you have. That amount of worth is benefitted by centrist politics, not left or right. To be quite honest, I have not tallied my worth lately, but the last time I did, I needed one more digit than you show and the market has increased since then. So I don't know why you say I am in a race to the bottom. If I was, I guess I would be passing by you at some point getting there.

 

[JDgreen227]

OP here...I respectfully ask members do NOT mention politics in this thread...and I respectfully also ask that houstonscott and Tomseller settle your issues via PM rather than here.

Truthfully, I never calculated my net worth and to me it's not a number that I really care about either. To me it's of little meaning...and what matters more is my credit score!!!!!

 

[Parkanzky]

I absolutely have not lost. Please give us your real total. I have a hard time thinking anyone could take the political positions that you have with a modest $4M. That is one trouble with the hard right, they think someone with a few million benefits from the hard right politics. Don't get me wrong, good for you for saving $4m, if that is what you have. That amount of worth is benefitted by centrist politics, not left or right. To be quite honest, I have not tallied my worth lately, but the last time I did, I needed one more digit than you show and the market has increased since then. So I don't know why you say I am in a race to the bottom. If I was, I guess I would be passing by you at some point getting there.

Some people don't form their political opinions solely on the basis on financial self-interests. Whether or not I agree with most of Scott's politics, I think it's insulting to suggest that his only motivation for forming his opinions is the selfish pursuit of what is best for him.

 

[TomSeller]

1. I respectfully ask members do NOT mention politics in this thread...and I respectfully also ask that houstonscott and Tomseller settle your issues via PM rather than here.
2. Truthfully, I never calculated my net worth and to me it's not a number that I really care about either.
3. To me it's of little meaning...and what matters more is my credit score!!!!!

1. Politics and money are inseparable. Government (includes politics) determines how much of our money we have left, how we navigate tax laws and how we decide to invest. But I will try not to mention the P word anymore at your request.
2. If you have not, how would you know if you are financially secure (the topic of the thread) ?
3. If someone is worried about a credit score, do they have enough assets of their own to be secure?

Thanks for starting such a good thread by the way.

 

[Travelover]

OP here...I respectfully ask members do NOT mention politics in this thread...and I respectfully also ask that houstonscott and Tomseller settle your issues via PM rather than here..............

+1 Amen

 

[JDgreen227]

TomSeller....thank you for telling us that you appreciate my starting this thread. But it's you and the rest of the members who have contributed and supplied input to keep it going, and I have learned a great deal from your viewpoints.

 

[Redneck in training]

If you save $5/day (Starbucks coffee or pack of cigs) and invest the amount in index fund earning historical average of 8%/year you would have $858.716,10 in your investment after 46 years (before taxes). And that $150/month. It seems to me that anybody could do it.

 

[300UGUY]

If you save $5/day (Starbucks coffee or pack of cigs) and invest the amount in index fund earning historical average of 8%/year you would have $858.716,10 in your investment after 46 years (before taxes). And that $150/month. It seems to me that anybody could do it.

They will take my latte out of my cold, dead hand......

 

[vtsnowedin]

If you save $5/day (Starbucks coffee or pack of cigs) and invest the amount in index fund earning historical average of 8%/year you would have $858.716,10 in your investment after 46 years (before taxes). And that $150/month. It seems to me that anybody could do it.

Yes we hear that a lot but think about it with inflation in mind. If I had put $5 a day away back when I started work that would have been more then an hours wages. I started in '75 at $4.20 an hour which was better then the $2.30 an hour minimum wage back then.
So start today putting coffee money $5.00 a day aside. sure it will add up and is far better then not saving but forty years out a cup of coffee will probably cost $30.00

 

[JDgreen227]

They will take my latte out of my cold, dead hand......

To each his own, but I have never understood why anybody would pay so much money for fancy coffee....I have never even tried a Starbucks or even an upscale Mickey D's coffee.