Awesome Doug! Great point. I have heard of this, but haven't done it before. I will now. I always try to invest in solid companies with good dividends though. But I used to let those dividends accumulate and then buy stocks to diversify my account ( Your way is cheaper and easier). So thanks for the tip!
Retire a Millionaire
- Thread starter Cigar Cowboy
- Start date
There are multiple ways to remove the dermis from a feline. Not everyone has the time to devote to tracking the market, nor the information necessary to know what moves to make regardless of what happens with the market. If you have the information, know what's going on with the market and understand it, not to mention the nerve, you can make the right moves at the right time. That being said, most people don't and staying with their investments through ups and downs as Starz recommends tends to be the best option for most people. I've seen more people lose than win trying to "play the market".
Great....
back to whoring myself out.....
imp1:I can see the train of thought though....cuz for me.....22 oz is the new 12 oz'er. :tiphat:
That might hold true for Cali....
But not OR and WA. My FIL is sitting on a couple mil, been retired for 10+ years already (retired from Hewlett Packard at 55), and still has more now in his Vanguard accts. then he did at retirement (by quite a bit). He's a penny pinchin' bastid though, and does everything by the book. No spontaneous purchasing there, including vacays etc. Has an Oceanfront property free & clear, absolutely zero debt.
Of course he's got SS income as well, which doesn't hurt. Started collecting as soon as it was available just to get in line while the gettin' was good.
If I couldn't retire somewhere for 3-4+ mil......well......let's just hope that's a problem that i'll have...LOL.
cartisdm
Young & Eager
Funny you brought this post up today. While at work this morning a fellow coworker mentioned the same article to me. While him and I both work in the technology side of company benefit packages, he specialized in the 401k side (myself, I deal with Health and Welfare).
I was lucky enough to score a great job with benefits right out of college last year (I say "lucky" but I honestly busted my a** to score this job and move to where I am so quickly). Day 1 on the job and I made sure I set up my 401k contributions (7.5%) along side my company match of 6%. Without ever getting a "feel" for what my paycheck could be, I never miss the deduction! I have messed around with multiple retirement projection tools and they all vary from $4.5-5 million at retirement.
Obviously, things will change along the way and who knows what can happen so it's never a sure thing, but my fiancée also recently started up her 401k so for the time being dual contributions are quite a feat to enjoy. I can't imagine having to jump start retirement down the road. As someone said earlier, you pretty much live within your means. Being used to a certain income then removing 10-15% can be quite a chunk of change as your income increases down the road!!!
I was lucky enough to score a great job with benefits right out of college last year (I say "lucky" but I honestly busted my a** to score this job and move to where I am so quickly). Day 1 on the job and I made sure I set up my 401k contributions (7.5%) along side my company match of 6%. Without ever getting a "feel" for what my paycheck could be, I never miss the deduction! I have messed around with multiple retirement projection tools and they all vary from $4.5-5 million at retirement.
Obviously, things will change along the way and who knows what can happen so it's never a sure thing, but my fiancée also recently started up her 401k so for the time being dual contributions are quite a feat to enjoy. I can't imagine having to jump start retirement down the road. As someone said earlier, you pretty much live within your means. Being used to a certain income then removing 10-15% can be quite a chunk of change as your income increases down the road!!!
My pleasure, brother.
Jfire
BoM 9/9' 9/11' 8/12'
Home inventories are no where near a record low. New homes are. And it's because Thousands of home builders are belly up and only a few hundred are left trying to build a few at a time and stay in business.
"Inventory of existing homes in March increased 1.5% to a preliminary 3,549,000 units from 3,498,000 units in the previous month. This is the second straight month that the stock of existing homes up for sale have increased. Inventory levels are now back to their highest levels since December 2010 as sellers begin listing their homes for the upcoming spring homebuying season. However, March's inventory level is still 2.1% lower than the 3,626,000 units of inventory on the market during the same year-ago period.
Months of existing home inventory declined slightly in March due to an increase in sales activity. At the current sales pace, there are 8.4 months of supply of existing homes on the market compared to 8.5 months in February. Months of existing home inventory are higher than they were this time last year when there were 8.0 months of supply on the market"
Add to this the information out there that some banks are still stock piling inventories as too not flood the market and lower prices even more................
"Inventory of existing homes in March increased 1.5% to a preliminary 3,549,000 units from 3,498,000 units in the previous month. This is the second straight month that the stock of existing homes up for sale have increased. Inventory levels are now back to their highest levels since December 2010 as sellers begin listing their homes for the upcoming spring homebuying season. However, March's inventory level is still 2.1% lower than the 3,626,000 units of inventory on the market during the same year-ago period.
Months of existing home inventory declined slightly in March due to an increase in sales activity. At the current sales pace, there are 8.4 months of supply of existing homes on the market compared to 8.5 months in February. Months of existing home inventory are higher than they were this time last year when there were 8.0 months of supply on the market"
Add to this the information out there that some banks are still stock piling inventories as too not flood the market and lower prices even more................
I work at Wells Fargo Advisors and they match 100% of my contributions, up to 6% of salary. So in other words, if I put in the max $16,500 plus another $5,500 for the catchup provisions, they will add the same $22,000 to the 401k. It's a great deal.
Cigar Cowboy
BoY...in Hell!!!
Couple million now, but I am talking 20 years from now.
Yes, Cali is much more expensive. That is why I want to retire someplace else
Look at our state income tax rates:
For single and married filing separately taxpayers:
1% on the first $7,168 of taxable income
2% percent on taxable income between $7,169 and $16,994
4% percent on taxable income between $16,995 and $26,821
6% percent on taxable income between $26,822 and $37,233
8% percent on taxable income between $37,234 and $47,055
9.3% percent on taxable income of $47,056 and above.
A 1% surcharge, the Mental Health Services Tax, is collected on taxable incomes of $1 million or more, making California's highest marginal rate 10.3 percent.
For married persons filing joint returns and heads of households, the rates remain the same but the income brackets are doubled.
Plus L.A. County Sales Tax is 9.75% to 10.25% varies by city
Plus we have luxury taxes on boats and other items.
Plus property taxes are high.
Car registration and fees are way high.
By the time the feds are done, if you make over $100K combined you are lucky if you have 40% of your earnings left.
After all that our utilities are out of control and they are taxed too.
Last edited:
cvm4
BoM - July '05 & Dec. '10
All you guys who just use the "set it and forget it" mindset with your 401k/IRA/etc. should at least reallocate once a year. A year can do a lot to a portfolio and you might be exposed more to a certain asset class than you previously thought. Take some time, review what you have and reallocate appropriately.
Oh, and I'm just dollar cost averaging here :wink:
Oh, and I'm just dollar cost averaging here :wink:
just started a new job, making double what I wasa previously. My company matches 85 cents to a $1... Right now im only at 2% contributions, but I have a bunch of credit card debt/student loans to pay off and then im going to bump it up to 3% and then progressively up it this year until im at 6%. Mind you I am 26 and getting a late start. Only have about 1300 in there now
cartisdm
Young & Eager
Not a late start at all. As long as you gradually increase the contribution over time you'll barely even notice it's gone. Spend some time looking at your investment options, even at 26 you can do some aggressive investment options. Maybe once you hit late 30s or early 40s start to taper it to a moderate growth, and finally a conservative pattern as approach retirement years
just went ahead and bumped it up to 3%, its only like another 9$ a week.....and see where that takes me, Also my current investement has a 16% life return on the mutual fund. Sucks that my company puts half of what it matches into company stock, but its Verizon, i dont see them going anywhere anytime soon
Edit...they match up to 6%
Edit...they match up to 6%
Last edited: