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I borrowed today’s equal to about 10k for one year of trade school in 1974 . .it was a huge amount of money for me to borrow at that time . I paid it off in about 2 years.
I did trade school after I did not do so well in college as I sucked at math.
Plus I wanted a skill that was not easily obsoleted since my career as a drummer was being slowly replaced by dee jays instead of live music.
Ironically after my wife pushed me back in to playing when I retired and I am going full circle .
She gave a recovering drug addict drugs after she pushed me in to trying to play again just for myself . . Now I am obsessed with drumming and she created a monster . She had no idea it would consume me like it does. Ha ha ha
I just accepted an offer to do a set with a very well known group on their 50th anniversary tour . So now I am ending the last down of life like I started my working career
The difference now is you don't have to make a living from drumming. Have fun!
Nope not Fleetwood Mac . Once I have my dates I will let ya all know the details . I have to get back home to ny to finalize the details , we are down in Florida checking out the villages .
My wife wants to beat me with the sticks lol. She unpacked my suitcase and saw a brought a practice pad , my sticks and a metronome on our trip. Ha ha ha . Hey she was the enabler right?
Math jak...is it the Beatles?
That must be something....i always wanted to be a lead singer....but alas, i dont have the voice for it. Its like grinding gravel. Its because we have two sets of vocal cords, most have the primary vocal cords producing sound, mine dont work. Only the secondary cords work in my throat.
I sound like a male Bonnie Tyler! ( 'memba her?) Raspy voice and all. Or Ben Zucker ( hes German or swiss or Austrian). Ben and Bonnie have a video on YouTube, of doing duets together, in English and German.
I also sing off key, im sure. If the tonality of my voice was better was better, i might be on key, lol.
So....mathjak, am i correct? The Beatles? They arent all there obviously....but, still 50th anniversary white album, and all.
Another thought on how things go sour in retirement: selling at the bottom of the market. This can happen due to panic or just the inability to cut down what you're pulling out of the investments for regular expenses. If you absolutely NEED $XX,000 per year from investments and that amount is an unsustainable % of your total because the total is sinking, your assets are going to be depleted prematurely.
In dire straits, I'd be able to cut my charitable giving (it was 15% of my AGI last year), contributions to the grandkids' 529s, and my lavish travel budget. I'd whine (what?- fly COACH to Europe?) but I could lower my withdrawal % to a comfortable rate and let the portfolio recover. I could even file for SS on my own record rather than as a Survivor on DH's record and get another $1,000/month or so, but prefer to wait another 5 years when I'll be 70 and the increment will be higher (just in time to pay taxes on RMDs).
When I read sad stories of seniors who "lost all their savings in the last bear market" I wonder what really happened. It was probably not the case that all their investments became worthless.
That must be something....i always wanted to be a lead singer....but alas, i dont have the voice for it. Its like grinding gravel. Its because we have two sets of vocal cords, most have the primary vocal cords producing sound, mine dont work. Only the secondary cords work in my throat.
I sound like a male Bonnie Tyler! ( 'memba her?) Raspy voice and all. Or Ben Zucker ( hes German or swiss or Austrian). Ben and Bonnie have a video on YouTube, of doing duets together, in English and German.
I also sing off key, im sure. If the tonality of my voice was better was better, i might be on key, lol.
So....mathjak, am i correct? The Beatles? They arent all there obviously....but, still 50th anniversary white album, and all.
Probably wrong
..
Sorry ,no Beatles . Ringo’s son is actually a fabulous drummer and has been with The Who for many years now
Another thought on how things go sour in retirement: selling at the bottom of the market. This can happen due to panic or just the inability to cut down what you're pulling out of the investments for regular expenses. If you absolutely NEED $XX,000 per year from investments and that amount is an unsustainable % of your total because the total is sinking, your assets are going to be depleted prematurely.
In dire straits, I'd be able to cut my charitable giving (it was 15% of my AGI last year), contributions to the grandkids' 529s, and my lavish travel budget. I'd whine (what?- fly COACH to Europe?) but I could lower my withdrawal % to a comfortable rate and let the portfolio recover. I could even file for SS on my own record rather than as a Survivor on DH's record and get another $1,000/month or so, but prefer to wait another 5 years when I'll be 70 and the increment will be higher (just in time to pay taxes on RMDs).
When I read sad stories of seniors who "lost all their savings in the last bear market" I wonder what really happened. It was probably not the case that all their investments became worthless.
Safe withdrawal rates are already based on horrible outcomes
“I am not a product of my circumstances. I am a product of my decisions” — Stephen Covey
That's a good lesson for America's underclass.
The simple fact is the vast majority of american won't make or save enough money to reitire comfortably. The constant bombardment of instant gratifcation ads, impatience, greed, and prevalance of financial illiteracy has created a toxic American culture where people are convinced to "buy now, worry later."
Well, the cost will be retirement. A lot of folks are going to be upset when they find out SS can't save them.
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