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He's living at 100 years old and still with a million saved! Saving, compounding and controlling debt were keys to his success. What a great example of financial success!
Quote:
Living for an entire century brings challenges. In addition to the death of his wife, Martha, in 2022, Stovall has lost nearly all of his friends. The days at his house in Cumming, Georgia, can get lonely. He’s survived colon cancer and skin cancer. He’s now deaf.
But one subject that doesn’t cause him much stress is money. His nest egg is still around $1 million.
“I always lived within my means,” Stovall said. “I’m not a gambler.”
many of us who did well financially are projected to end not only with a million but a few million based on FUTURE DOLLAR VALUE .
Aggressive investing in markets and real estate compounded whatever we could save in to meaningful sums over the decades .
i cant say we watched the pennie’s as i have always bought new cars every 4-5 years since 1974 .
but i made up for the spending with powerful investments as well as always being invested no matter what i thought was coming.
a 4% safe withdrawal rate inflation adjusted has left you with more then you started with 30 years later 90% of the time and 2x what you started with 67% of the time with a 50/50 or 60/40 portfolio.
so no surprise here.
under better then worst case outcomes the bigger risk is leaving to much money unspent and not enjoyed if a system of taking raises is not employed other then inflation adjusting with the traditional 4% constant dollar method of withdrawal
"Stovall has lost nearly all of his friends"............
You know, that is actually the hardest part for me. My friends go back to the late 60's when I was in the navy. Now, we can't even get a reunion together because there are only 2 of us who could still travel.
I'm not even 80 yet and so very many of my friends are gone. It's hard, sometimes. I've got extended family around, but no blood relatives who have known me all my life.
I'll still have a million when I'm 100. I don't know how much it will be worth, but that's not really the point with me. I feel clever having homes that are paid for and older cars in pristine condition. I even feel clever taking the train instead of flying when I have to travel; I took a round trip, Tupelo - Greensboro, NC - Tupelo for $200!
Keep in mind he grew up when not everyone had a chance to go to college, or the means to start a business.
Most born then stayed poor.
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