retiring

[kenmac]

It sounds like a race car, and he has a big grin on his face every time I see him drive up in it. This may be the last time in his life that he wants it.

Lets just hope he's able to grin when he looks at his bank account many years down the road.
I had many fast cars back in my days.
Later in life, I learned it was really a waste even thought it was fun for the moment .
I have thought several times about buying another one. Like your nephew, I was always a Dodge man.
If I could get around worrying about the depreciation, I would go purchase a new Dodge Hellcat

 

[drssg]

Lets just hope he's able to grin when he looks at his bank account many years down the road.
I had many fast cars back in my days.
Later in life, I learned it was really a waste even thought it was fun for the moment .
I have thought several times about buying another one. Like your nephew, I was always a Dodge man.
If I could get around worrying about the depreciation, I would go purchase a new Dodge Hellcat

Yep, that will be the true test.

I think his is one step below the Hellcat.

 

[kenmac]

Yep, that will be the true test. .

Yep. A wise man once said.''Live like no one else today. so later, you get to live like no one else'' !

 

[Jstpssng]

Yep, that will be the true test.

I think his is one step below the Hellcat.

If he was really wise he'd take care of it, then park it in a barn and forget about it.

 

[Spindifferent]

I wonder what rate of return on investments people on this thread are using in their planning, or if they are even consciously thinking about that. I use 5% because the inflation adjusted return on the S&P 500 is about 7%, both historically and throughout my working/investing time.

I use 5.0% as well, and model both 2.5% and 3.0% inflation.

 

[3Ts]

I use a range of returns starting at 4% and go up to my average x% over 10 years and 3% inflation. The one I pay attention to the most is 70% of my average over 10 years.

 

[goeduck]

^^^ I close my eyes and pray.

Well not quite, I make wise investments and check in on them once a month and as long as I am gaining a little ahead of the general market rate I am good. I try not to overthink investing or I would be in there tweaking them all the time and losing money.

 

[Travelover]

....... I try not to overthink investing or I would be in there tweaking them all the time and losing money.

This is important. Market timing is where most people that do invest but lose their butts, fail. Set an asset allocation like 60% stocks / 40% bonds and just re-balance once a year. Period. Don't read financial ****, watch financial shows or check your balances all the time. Market timing doesn't work over the long haul, though someone will always have an anecdotal "win". Like Las Vegas, no one brags about the losses, so you never hear about them.