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Old 08-03-2019, 11:54 AM
 
72,691 posts, read 72,534,115 times
Reputation: 50232

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Quote:
Originally Posted by Larry Caldwell View Post
Your goal is to be rich, and the richer the better. I can't criticize that. If you wanted to take the homeowner path, you should have done it 35 years ago, not last week. It's hard for me to imagine a situation Where a retired person would clean out their savings to buy a house, particularly if your rent is only $500/month more than property taxes.

I have to admit that if the US consumer economy depended on my spending habits, the whole system would collapse. My wife and I are getting ready to go to town. I'm sitting here in the office. I look out one window and see deer browsing in my yard and a red headed woodpecker banging on a tree. I look out the other window and see a pair of mountain quail with a half grown clutch. I set that entertainment in motion 33 years ago, and it's paid for. Free.

Cash flow is not even a relevant question, because I don't need money. Well, maybe. Property taxes, insurance and utilities costs me a whopping $350/month. That's like someone who drives a car discussing how much an oil change costs. Thanks to pre-retirement paranoia, I have both tax sheltered and paid-for investments. The feds are making me take RMDs, but I haven't touched other savings. Maybe when I get old and need to hire hot and cold running nurses to take care of me in my dotage, the savings will come in handy.
my goal was never to be rich ... my goal was to make as efficient use of my assets as i could ...

over the years i owned a home , i owned a 2nd home and we owned co-ops which i lived in ... i also owned a lot of investment real estate . i find the most efficient balance is renting for us since we have the resources to keep that money invested , growing and producing income as well ...
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Old 08-03-2019, 11:55 AM
 
72,691 posts, read 72,534,115 times
Reputation: 50232
Quote:
Originally Posted by NewbieHere View Post
Yeah, thatís my savings for, to hire hot looking nurses to come help my husband, a good way to nurse him back to health for sure. I then would be hastagging, #bestwifeever.
if i get a note from my mom can you get one for me too ?
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Old 08-03-2019, 12:38 PM
 
29,979 posts, read 35,062,916 times
Reputation: 11866
Quote:
Originally Posted by mathjak107 View Post
if i get a note from my mom can you get one for me too ?
Our wives want to keep us upright and happy for many reasons. One of is to keep the financial security rolling. Not just now but for tomorrow

So hopefully a hot nurse to keep us happy at the end
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Old 08-03-2019, 01:06 PM
 
Location: Haiku
4,441 posts, read 2,673,907 times
Reputation: 6507
Quote:
Originally Posted by TuborgP View Post
Our wives want to keep us upright and happy for many reasons. One of is to keep the financial security rolling. Not just now but for tomorrow

So hopefully a hot nurse to keep us happy at the end
I don't know about that. Sometimes it's best to be left with your memories of the good old days rather than making an ill-fated attempt to relive them.
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Old 08-03-2019, 06:41 PM
 
Location: Prepperland
13,816 posts, read 9,924,659 times
Reputation: 9950
Best investment advice : marry a rich widow(er).
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Old 08-04-2019, 01:10 PM
 
Location: Orange County/Las Vegas
1,689 posts, read 1,886,537 times
Reputation: 1411
Using the 4% rule I figure just from my SS and savings it would be around $5500.00 per month. This is not factoring in the houses. Not sure if we are going to rent one of them or sell. My wife's savings and SS would be extra.
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Old 08-04-2019, 01:12 PM
 
72,691 posts, read 72,534,115 times
Reputation: 50232
Quote:
Originally Posted by jet757f View Post
Using the 4% rule I figure just from my SS and savings it would be around $5500.00 per month. This is not factoring in the houses. Not sure if we are going to rent one of them or sell. My wife's savings and SS would be extra.
make sure you are using at least 40% equities ....otherwise 4% is not recommended
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Old 08-04-2019, 03:19 PM
 
26,272 posts, read 33,257,792 times
Reputation: 32726
Quote:
Originally Posted by mathjak107 View Post
Ha ha ha , I would never have retired if all I had was 3600 a month here...

I would be living in the hood...
LOL! No kidding. I'm not even anywhere near the COL of NYC, but 3600 a month and I would never retire!
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Old 08-04-2019, 03:21 PM
 
Location: southern california
55,902 posts, read 74,940,383 times
Reputation: 48462
Not much of either is needed - not the income and assets that is the issue -it’s those Grand Canyon holes in the pockets of most Americans that is the problem
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Old 08-04-2019, 03:28 PM
 
Location: Orange County/Las Vegas
1,689 posts, read 1,886,537 times
Reputation: 1411
Quote:
Originally Posted by mathjak107 View Post
make sure you are using at least 40% equities ....otherwise 4% is not recommended
You mean 401k in mutual funds?

I'm not even sure what I do with that when I retire. I guess IRA which would still be mutual funds.
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