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Old 12-16-2018, 05:12 PM
 
5,706 posts, read 8,771,469 times
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Quote:
It may leave some in trouble too if they terminated helocs like in 2008 . It is hard selling off a piece of the living room at the supermarket
By the time I quit my office job I had enough cash flow to cover the groceries.

These loans were fully amortized and usually fixed rate. At the time a variable was the only loan available it worked in my favor with the rate going down.

I did have a line of credit most of the time - guess I should consider myself fortunate it never got called.
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Old 12-16-2018, 08:39 PM
 
Location: Outside US
1,229 posts, read 486,582 times
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Quote:
Originally Posted by rjm1cc View Post
It depends on your expected retirement budget but I would say 10 to 15% to retirement investments (stocks and bonds). If you are retired and your retirement income can not increase then you do have a problem as prices could double during retirement. One option would be to postpone SS as long as you can.
Saving and investing 10-15% of gross means that 85% to 90% of one's income is going out the window. Gone.

Awful.

People say, "but my mortgage, car, this and that costs."

Bad choices for many but for more people the fixed expenses and cost of living is simply too high.
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Old 12-17-2018, 01:25 AM
 
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gee i always thought that was what money was for . we save some , we spend some and we enjoy the fruits of our labor , not stare at a balance sheet .

if the numbers work as is , then they work
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Old 12-17-2018, 07:11 AM
 
3,351 posts, read 3,055,161 times
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23% currently to 401(k) and IRA. Also single and financially responsible for myself only.
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Old 12-17-2018, 07:35 AM
 
Location: Philadelphia/South Jersey area
2,879 posts, read 1,408,873 times
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lol, currently 10% of my salary in a 401k.

When I retire? absolutely none. I plan on spending every dime. I find that most people forget to live in the present because they are worrying about what catastrophe is going to hit when they are 80.

know way to many people who thought that way and died in their 50's. I'm retiring next year at 59. I'll use my taxable account for 2 years, then probably turn on my late husbands ss while letting mine grow until I'm 70. I have an inherited IRA, my pension, my roth ira & 401k to tap also.

my primary goal though is flexibility with spending.
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Old 12-17-2018, 03:43 PM
 
Location: RVA
2,172 posts, read 1,270,292 times
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Originally Posted by jasperhobbs View Post
I think that poster is long gone and living in a cave sitting on gold bars and a shotgun pointed at the entrance.
Exactly. Who’s going to give one whit about gold if money is worth nothing?
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Old 12-18-2018, 06:44 AM
 
2,446 posts, read 2,076,017 times
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Originally Posted by Propop View Post
[mod cut - deleted post]
You can go back 50 years and find all kinds of 'economic collapse' articles. No one knows the future. The last time I believed a clairvoyant that predicted the world to end on a certain day. I ran up massive amounts of credit card and loan shark debt thinking I would never have to repay it. And I here I am today with 2 burly guys named Moose and Rocko at my door wanting their money

Last edited by VTsnowbird; 02-05-2019 at 11:48 AM..
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Old 12-18-2018, 07:07 AM
 
2,446 posts, read 2,076,017 times
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[quote=Propop;53915507][b] If you are following people who tell you the world is going to end on a certain day and you acted stupidly with your life decisions then that's your fault.

Well, gee I assumed most people are honest and wouldn't lie to me.
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Old 12-18-2018, 09:37 AM
 
Location: Outside US
1,229 posts, read 486,582 times
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Quote:
Originally Posted by mathjak107 View Post
gee i always thought that was what money was for . we save some , we spend some and we enjoy the fruits of our labor , not stare at a balance sheet .

if the numbers work as is , then they work
I feel the same way you do, mathjack.

I'm not a numbers man or bean counter. I also am not money oreinted.

I enjoy the the simple things in life, and also travel.

But I want to save more than 10-15%. Saving more = more options, and more freedom.
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Old 01-30-2019, 06:46 AM
 
Location: PA
33 posts, read 8,511 times
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Quote:
Originally Posted by Propop View Post
[mod cut - deleted post]
You will never connect with people screaming about pending doom, or trying to change people’s ways the way you are attempting. Name calling surely wolnt connect with people either. I get it your voicing your opinion on what you’ve studied and prepared for, that’s great! All advice is welcome. I agree with you PMs are great to have, but you have people here on this website that cannot even afford 2% of their pay into a retirement plan. Surely they are not going to afford pms. Also the original thread is asking what percentage of income have you set aside. Going into specific investment strategies/ideas is a bit off topic.

You can lead a horse to water but if he don’t want to drink and all that.

Last edited by VTsnowbird; 02-05-2019 at 11:49 AM..
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