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U know ur old

zoo york

zoo york

Knight
crikey said:
Or do it my way: which is "don't DO it!"

I'm here for a GOOD time, not a LONG time
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What happens when you wake up one day and it turns out you actually made it to 65, and you have $500 in the bank? Or 500 Ameros, whatever bullshit currency we're using in 30-40 years. You don't want to be one of those 80 year old Walmart greeters that actually needs the job.
 
Stoltz

Stoltz

Sorceror
 
Paracelsus

Paracelsus

Sorceror
zoo york said:
What happens when you wake up one day and it turns out you actually made it to 65, and you have $500 in the bank? Or 500 Ameros, whatever bullshit currency we're using in 30-40 years. You don't want to be one of those 80 year old Walmart greeters that actually needs the job.
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500 USD, 500k AUD, ... *smile*
From the day 1 I know about money, I was taught not to rely on the government, I must rely on myself in order to survive in the retirement.
 
Paracelsus

Paracelsus

Sorceror
zoo york said:
If your company offers any kind of matching get on that asap. Put your money in a nice index fund. Vanguard total market funds are the bomb.
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90% index fund won't outperform the index and you have to pay the management fee and sometimes the performance bonus. I prefer to follow the index using a more direct way. :)
 
zoo york

zoo york

Knight
Paracelsus said:
90% index fund won't outperform the index and you have to pay the management fee and sometimes the performance bonus. I prefer to follow the index using a more direct way. :)
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You're mistaking index funds for mutual funds. Index funds usually have an expense ratio of somewhere around .05%. They are run by computer simulations, and are not actively managed. The downside of an index fund, is that when it's properly managed, it cannot beat the market. A mega savvy mutual fund manager can sometimes beat the market, especially in cases where he/she has some insider info that they shouldn't have.
 
zoo york

zoo york

Knight
Paracelsus said:
500 USD, 500k AUD, ... *smile*
From the day 1 I know about money, I was taught not to rely on the government, I must rely on myself in order to survive in the retirement.
Click to expand...

Self reliance is important, but keeping money under your bed is foolish, and you're losing out on huge profits by doing so. It's also not secure at all. Having an emergency fund is crucial though, and that should be separate from your retirement account, your investment account, and your bank account. A good rule of thumb is to have 6 months of living expenses in your emergency fund. I keep my fund in an internet savings bank that I can access via electronic transfer, checks, and a debit card.

As far as relying on the government, you'd be doing just that by not building a retirement portfolio.
 
Paracelsus

Paracelsus

Sorceror
We had no retirement portfolio just recently there was one so-called and the day it launched around 10 years ago. My impression was that it was/is suck and not worth to rely it for the retirement life.

I built my own retirement reserve by properties (majority is for rental income), stocks (mainly those that can give cash dividend) and bonds. For cash, I will keep it in multiple currencies. Since my local currecny is 'peg' with USD, I need to hedge for its depreciation (somehow some cash was throwing into the local property market to hedge for this).
 
crikey

crikey

Sorceror
zoo york said:
What happens when you wake up one day and it turns out you actually made it to 65, and you have $500 in the bank? Or 500 Ameros, whatever bullshit currency we're using in 30-40 years. You don't want to be one of those 80 year old Walmart greeters that actually needs the job.
Click to expand...
I'll worry about that in 35 years ;)

But if I have to, if things are THAT BAD, I could always eat a bullet, or if I cannot self terminate, could pass some money demand notes to some out of state bank tellers. If the cops catch up to me, oh well....wave a gun around wildly in a standoff and wait for 20 cops to arrive, guns drawn. Then raise the gun up towards them (I wouldnt shoot em, I'm not a murderer), and let them bring me down in a hail of gunfire
 
Stoltz

Stoltz

Sorceror
zoo york said:
Self reliance is important, but keeping money under your bed is foolish, and you're losing out on huge profits by doing so. It's also not secure at all. Having an emergency fund is crucial though, and that should be separate from your retirement account, your investment account, and your bank account. A good rule of thumb is to have 6 months of living expenses in your emergency fund. I keep my fund in an internet savings bank that I can access via electronic transfer, checks, and a debit card.

As far as relying on the government, you'd be doing just that by not building a retirement portfolio.
Click to expand...


Reading this and looking at your avatar of Steve Carell makes me confused.
 
Fides

Fides

Sorceror
u also know you're old when it starts getting to the point where you have a hard time sleeping in.
 
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