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Old 05-27-2015, 11:33 AM
 
9,893 posts, read 3,279,390 times
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Quote:
Originally Posted by mysticaltyger View Post
But that's a 2 way street. 80% of heart attacks, in particular, are very preventable with diet & exercise. Cancer is tougher to prevent. But I am always surprised at people's low level of motivation to take control of their lives.

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Scientists this week are reporting a breakthrough therapy to lower the risk of developing the most common and deadly chronic diseases — diabetes, cardiovascular disease and cancer — by about 80 percent.

In some ways, this might sound like old news. The therapy is called taking care of yourself: not smoking, exercising regularly, eating a healthy diet and maintaining a healthy weight.


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Keeping healthy is something people should do completely independent of our broken healthcare.

That leaves us with our current state of affairs, the number one reason people in the USA go bankrupt in healthcare. It is the biggest single issue facing the public, and the only reason we have not fixed it is the vast sums of money being made by the healthcare industry. And it is exactly how you , me or the guy next door will go broke. Meanwhile our EU counterparts will not lose their home or struggle to stay insured, and they will receive excellent healthcare while out living us....
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Old 05-27-2015, 11:38 AM
 
906 posts, read 651,450 times
Reputation: 836
Quote:
Originally Posted by Macgregorsailor51 View Post
The difference between 62 early out and 66 full retirement is actually very little difference. I am retired and have a LOT of retired friends to confirm this. The actual math shows it takes "ABOUT" 22 years to break even .. ANOTHER HUGE ISSUE is the OP doesnt own a home.. so they will rent for the rest of their lives... " Most Often " renting is tossing money in the toilet.. Do The math.. Next issue ... People get on these boards and try to BS everyone about the passive income ( interest they are making) but at retirement age with low tolerance for loss ( because you will need income until you die and have No Way To Ever Make More Money if you lose any) the best you will do is 6 -maybe 8% and 8% is pushing it. ALWAYS when figuring for retirement , figure Income low and Cost HIGH !! It will take you $500,000.00 to earn $30,000.00 a year in passive income. Chances are good that 5% savings over a lifetime means you will sit in a rabbit hutch apt. on the computer lying to anyone who will read you post's. I live/retired to SWF ( we sold our much larger home and paid cash for this one) and most (99%) of the retirees I know now own their own homes..taxes insurance and up-keep is far less than the cost of an Apt. and when you or if you need to move to Assisted Living you have a few hundred thousand dollars from your home to get started with anyway. Most of us have passive income somewhere between $50K and $150K a year.. I have a friend trying to do this on $1350 a month and a PT job. Its not going well. He is always broke, he can never go anywhere or do anything, thats fun.. he is pinching every penny just to survive.

who in the heck with 500k in the account will just live off interest of 6%. it will take almost 16 years to even see 500k off interest.. With 500k one can sure make more money then 6%

Buy 2 houses with lots of equity for about $150,000 each and rent it out for 1k a month each would be mor better then 6%
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Old 05-27-2015, 11:52 AM
 
Location: NC Piedmont
3,911 posts, read 2,881,013 times
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Quote:
Originally Posted by key2success View Post
who in the heck with 500k in the account will just live off interest of 6%. it will take almost 16 years to even see 500k off interest.. With 500k one can sure make more money then 6%

Buy 2 houses with lots of equity for about $150,000 each and rent it out for 1k a month each would be mor better then 6%
Become a landlord? That's a job! I might be able to retire on 6% interest if things don't go haywire in the next few years. I would consider doing just that if it is an option.
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Old 05-27-2015, 02:54 PM
 
Location: Ruidoso, NM
5,416 posts, read 5,113,756 times
Reputation: 4458
Quote:
Originally Posted by Girldawg1 View Post
I retired in my early 40s. I was from a regular-joe middle class family. I had a degree, but always had quite low-paying jobs yet was always able to save money. There are so many variables for everybody. Basically I led a pretty frugal life, but never was uncomfortable nor did without anything. Frugal doesn't mean austerity. As much as is possible, eliminate the debt. If home and vehicle are paid for, one nearly has it made. Have a balance of wants vs. needs: Very little is actually needed, and that includes the type and size of the home. Society creates the whole illusion of lifestyles and goods to give the impression they can't be lived without. That path is easy to fall into
I "retired" for 13 years when I was 30. My original intent was to take a short break of a couple years, but I liked it so much and spent so little money I kept at it.

Had $100k saved up, put it into CDs and lived on less than the interest. Built a camper for my pickup, and sold everything that I didn't need. Camped on BLM land mostly and moved with the seasons.

I needed food and gas and simple maintenance. That's about all I spent money on. The benefits were priceless.
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Old 05-27-2015, 02:59 PM
 
44 posts, read 39,164 times
Reputation: 85
Living frugally, no cable, no eat-outs, no entertainment, no kids (of course, a personal choice), no family vacations, all just to be able to retire between 45-55 yrs. of age....why would anyone want to live at all? Between 25 to 55 is the prime age where one is earning, healthy, fit, good looking and energetic. What's the point in wasting all those best years of life living frugally in anticipation of a better life somewhere in the far future where we don't even know whether we will be alive and if alive healthy enough to experience all the things we want to.

Of course, we all have to save for retirement but not at the cost of difficult and miserly adulthood according to me. I would never exchange the current life's experiences for any of the future comforts e.g., the 45 day road trip across the US we did a few years ago costing $35000. Like the master card punch line goes ' there are some things money can't buy for everything else there's master card'.
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Old 05-27-2015, 03:52 PM
 
Location: Sugarmill Woods , FL
6,235 posts, read 5,907,508 times
Reputation: 13647
Most people aren't able to retire after companies quit having defined benefit pensions.
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Old 05-27-2015, 04:50 PM
 
Location: Texas
1,971 posts, read 1,376,326 times
Reputation: 6745
Quote:
Originally Posted by aneev View Post
Living frugally, no cable, no eat-outs, no entertainment, no kids (of course, a personal choice), no family vacations, all just to be able to retire between 45-55 yrs. of age....why would anyone want to live at all? Between 25 to 55 is the prime age where one is earning, healthy, fit, good looking and energetic. What's the point in wasting all those best years of life living frugally in anticipation of a better life somewhere in the far future where we don't even know whether we will be alive and if alive healthy enough to experience all the things we want to.

Of course, we all have to save for retirement but not at the cost of difficult and miserly adulthood according to me. I would never exchange the current life's experiences for any of the future comforts e.g., the 45 day road trip across the US we did a few years ago costing $35000. Like the master card punch line goes ' there are some things money can't buy for everything else there's master card'.

Last year, in our 70's we did 8 weeks across the U.S. and Canada and it didn't cost near that much. We did 4 weeks all over Europe and it didn't cost near that much. So far this year, just came back from Boston and NYC for two weeks, even with hotels costing $300 up per night. Two weeks in San Francisco and Oregon coast. Two weeks in Florida and one week on the Gulf in Texas it didn't cost that much. If we add it all together with flights and car rentals it maybe that much.
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Old 05-27-2015, 06:49 PM
 
Location: Viña del Mar, Chile
16,411 posts, read 26,246,787 times
Reputation: 16497
Most people talk BS.
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Old 05-27-2015, 06:50 PM
 
171 posts, read 143,900 times
Reputation: 425
i retired when I was 34 but it was so boring I went back to work 2 years later
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Old 05-27-2015, 06:50 PM
 
Location: Viña del Mar, Chile
16,411 posts, read 26,246,787 times
Reputation: 16497
Quote:
Originally Posted by aneev View Post
Living frugally, no cable, no eat-outs, no entertainment, no kids (of course, a personal choice), no family vacations, all just to be able to retire between 45-55 yrs. of age....why would anyone want to live at all? Between 25 to 55 is the prime age where one is earning, healthy, fit, good looking and energetic. What's the point in wasting all those best years of life living frugally in anticipation of a better life somewhere in the far future where we don't even know whether we will be alive and if alive healthy enough to experience all the things we want to.

Of course, we all have to save for retirement but not at the cost of difficult and miserly adulthood according to me. I would never exchange the current life's experiences for any of the future comforts e.g., the 45 day road trip across the US we did a few years ago costing $35000. Like the master card punch line goes ' there are some things money can't buy for everything else there's master card'.

Lol what the heck?

35000 dollars? You're either loaded or terrible spenders.

I've lived out of the country for almost a year and didn't spend even close to that.
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