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Lol, put it like this, I don't need a Trinity Study to prove "competency".
All I need is a disciplined plan to make as much money from my work/career as possible and continue to have expenses low/tax reduction in place so I can put away a good amount in savings every year with a portion in retirement accounts and a portion outside of retirement accounts.
As long as my savings are growing, safe, insured on average of 3.5% between now and age 65 (which they will once the Fed increases rates) I will be all set.
Will $1 million be in 2048 what it is in 2015? Most likely not. But what it WILL BE is damn more than 90% plus of people in retirement will have. My Generation, the Millennials, are going to have a very tough time going forward and for a Millennial to do what I'm going to do, they are a ROCK STAR.
So unlike you MathJak, I don't "prove my competency" through how many academic studies I can regurgitate, I prove my competency through ACTION.
In that regard, you are like an old fashioned brick and mortar college degree, and I'm like one of the new 21st century Competency Degrees
except no one cares what you think or your opinions so if you want to argue here you better bring academic study's and data from the brightest minds on the subject or don't waste everyone's time with nonsense you believe to be true .
Lol, put it like this, I don't need a Trinity Study to prove "competency".
All I need is a disciplined plan to make as much money from my work/career as possible and continue to have expenses low/tax reduction in place so I can put away a good amount in savings every year with a portion in retirement accounts and a portion outside of retirement accounts.
As long as my savings are growing, safe, insured on average of 3.5% between now and age 65 (which they will once the Fed increases rates) I will be all set.
Will $1 million be in 2048 what it is in 2015? Most likely not. But what it WILL BE is damn more than 90% plus of people in retirement will have. My Generation, the Millennials, are going to have a very tough time going forward and for a Millennial to do what I'm going to do, they are a ROCK STAR.
So unlike you MathJak, I don't "prove my competency" through how many academic studies I can regurgitate, I prove my competency through ACTION.
In that regard, you are like an old fashioned brick and mortar college degree, and I'm like one of the new 21st century Competency Degrees
Jo,
Do you know how to become a wise old man? If you don't, it's by making mistakes while you're young. After reading this, all I can think of is you're trying to acquire the financial wisdom that many of us already have. Good luck and hope you acquire your wisdom sooner than later.
As long as my savings are growing, safe, insured on average of 3.5% between now and age 65 (which they will once the Fed increases rates) I will be all set.
You've already accepted an assumed 1.5% inflation rate so 42% of your return is gone before taxes including taxes you are looking at returns around 1% in taxable accounts
Quote:
Will $1 million be in 2048 what it is in 2015? Most likely not. But what it WILL BE is damn more than 90% plus of people in retirement will have. My Generation, the Millennials, are going to have a very tough time going forward and for a Millennial to do what I'm going to do, they are a ROCK STAR.
Why compare yourself against underperformers? Big fish in a little pond I guess
Quote:
So unlike you MathJak, I don't "prove my competency" through how many academic studies I can regurgitate, I prove my competency through ACTION.
In that regard, you are like an old fashioned brick and mortar college degree, and I'm like one of the new 21st century Competency Degrees
I'd rather be the guy with 7 figures and possibly a multiple of that than a kid who is dreaming of getting there
I take bits and pieces of what Ramsey says, for example when he starts talking about how "any debt" is stupid, I turn him off because that mantra makes no sense.
I try to learn from everybody but I only apply what fits my investing style. I'm not a buy/hold, ride a roller coaster type of investor. I have never liked roller coasters, when we would go to the damn carnival or Cedar Point, I would always sit on the bench until everybody got off lol.
I was called a "punk" then for not riding the roller coaster and I'm called a "punk" now by you guys for not riding THIS roller coaster. But that's okay, I'm having the time of my life riding The CD Carousel
If I were you I'd dollar cost average into CDs. When you run out of money in retirement, at least you will have been a man of conviction!! That's really all that matters.
Do you think the 600+ gain marks the end of the 'correction'?
don't know but i will bet in the long term if you were not telling the story you wouldn't remember it happened . for now i doubt that is the end of the volatility . i wouldn't be surprised to see the lowstested again , maybe by next week .
don't know but i will bet in the long term if you were not telling the story you wouldn't remember it happened . for now i doubt that is the end of the volatility . i wouldn't be surprised to see the lowstested again , maybe by next week .
while past returns reflect just that and can give you a best case and worst case that we had giving you an idea of what the investment did prior but it all boils down to your own time frame .
it is like taking a job on commission . there are risks and rewards and at time the rewards may be high or at times low . i always liked working on commission . i had very few lean years and many very very good years . i always preferred it to looking in some lower salary with no chance of doing better . in my investing time frame the markets did the same up to date . .
Last edited by mathjak107; 08-27-2015 at 05:16 AM..
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