R/E/P Community

Please login or register.

Login with username, password and session length
Advanced search  

Pages: 1 [2] 3 4  All   Go Down

Author Topic: $2M Retirement.  (Read 10350 times)

Jon Hodgson

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 1854
Re: $2M Retirement.
« Reply #15 on: January 21, 2010, 02:59:42 PM »

KB_S1 wrote on Thu, 21 January 2010 19:20

ssltech wrote on Thu, 21 January 2010 18:22

To everyone who insists that no amount of money -however enormous- can make you happy, I beg the following:

...just give me a chance to prove myself wrong!

Laughing


Money can't buy you happiness.
But poverty is even less likely too.



Misery is always available free of charge.

Happiness not so.
Logged

C.Cash

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 1889
Re: $2M Retirement.
« Reply #16 on: January 21, 2010, 03:19:35 PM »

Just suppose you worked 30+ years at a job that payed well but you hated. No kids but have a wife. House payed for and owed no money and came upon $2M.

What would you do?
Logged
><><><><><><><><><><><><><><><><><><><





DarinK

  • Sr. Member
  • ****
  • Offline Offline
  • Posts: 410
Re: $2M Retirement.
« Reply #17 on: January 21, 2010, 03:22:52 PM »

2 million divided by 40 years equals $50k per year, which is a totally decent income in most parts of the world.  It's more than I've ever made.  You'd have to invest to keep up with inflation, which even a low-rate savings account will do.  Anything else would be a bonus, and it should be very easy to earn beyond that even with very safe investments.
I'd keep working, but, as someone else said, only do work that I enjoy.
-Darin
Logged

Berolzheimer

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 2709
Re: $2M Retirement.
« Reply #18 on: January 22, 2010, 02:32:43 AM »

Congratulations, Clifford!
Logged
The film sound side of my life:
http://www.imdb.com/name/nm0077235/

A bunch of songs I've recorded and/or mixed are here:
http://www.zget.me/billionaires/

Geoff Emerick de Fake

  • Sr. Member
  • ****
  • Offline Offline
  • Posts: 348
Re: $2M Retirement.
« Reply #19 on: January 22, 2010, 06:28:52 AM »

C.Cash wrote on Thu, 21 January 2010 14:19

Just suppose you worked 30+ years at a job that payed well but you hated. No kids but have a wife. House payed for and owed no money and came upon $2M.

What would you do?
Well, that's just about what happened to me in 1997, when I sold my company, except that I loved my job, that I didn't quit, I just relaxed and started playing live and writing songs again after a 15 years hiatus. I was very reasonable, didn't buy Ferrari's or Les Paul's (well, some, but not the then outrageously priced 'bursts). I put most of my money in funds, and now, after making another additional two million between 1997 and 2002, the banks and funds have left me with less than half of it. I wished I'd bought Ferrari's and Les Paul's...I still love playing and writing songs.
Logged

Jon Hodgson

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 1854
Re: $2M Retirement.
« Reply #20 on: January 22, 2010, 07:11:40 AM »

C.Cash wrote on Thu, 21 January 2010 20:19

Just suppose you worked 30+ years at a job that payed well but you hated. No kids but have a wife. House payed for and owed no money and came upon $2M.

What would you do?


Well it depends on the lifestyle you're used to, but if it wasn't too extravagent then I would say that a person in this situation would be in a good position to

a) Set themselves up debt free wherever in the world they wanted to live
b) Set up a combination of funds and other investments that would give them a living income (especially if they moved somewhere warm and cheap!)

I think I'd do that, and then keep working, except I'd do what work I wanted to do, when I wanted to do it, and know that every penny was disposable on having fun.

(Lookibg at where you live, if it's you, then no need to move anywhere warmer Smile )
Logged

PookyNMR

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 1991
Re: $2M Retirement.
« Reply #21 on: January 22, 2010, 11:54:01 AM »

Roadster wrote on Thu, 21 January 2010 11:20

There is no such thing as a money "manager".

You would do as well getting a book from the library.



??

I'm sorry, but that's pure foolishness.

Do have any idea how much training and education a fully accredited portfolio manager has?

This isn't something you can master by reading one little book from the library.  The technical term for that suggestion is "gambling".



Logged
Nathan Rousu

Roadster

  • Sr. Member
  • ****
  • Offline Offline
  • Posts: 403
Re: $2M Retirement.
« Reply #22 on: January 22, 2010, 01:50:08 PM »

PookyNMR wrote on Fri, 22 January 2010 10:54

Roadster wrote on Thu, 21 January 2010 11:20

There is no such thing as a money "manager".

You would do as well getting a book from the library.



??

I'm sorry, but that's pure foolishness.

Do have any idea how much training and education a fully accredited portfolio manager has?

This isn't something you can master by reading one little book from the library.  The technical term for that suggestion is "gambling".






Two books then. OK, one if you live in Canada.

Seriously, I know they have enough training and education to bring the economy to it's knees.  Rolling Eyes
Logged
Rich
Road's End Studio
Musician, Songwriter, Research Technician on Creative Muse

Les Ismore

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 849
Re: $2M Retirement.
« Reply #23 on: January 23, 2010, 07:20:27 PM »

Definition of a money manager:

Someone who manages your money until it's all gone.

If I lose or blow my own money, that's one thing. The thought of someone else blowing my money for me rubs me the wrong way.

Back in the 90s I came into a settlement on a car accident and everyone told me "mutual funds, we made 20% last year". If I had bought into them I would have lost 50% of the dough that year.

I ended up spending that money myself and got much pleasure out of it. The stock market is designed to re-distribute wealth. From you to them. And it does it very well.

If I had 2 million, and was going to try to live on it without other income, I would invest very wisely in some real estate that was low, but sure to increase in value. And close enough that I could manage it.

Congratulations and good luck!
Logged
Pete Honychurch - Fluid Sound
http://www.myspace.com/PeteHonychurch

seedyunderbelly.com

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 2465
Re: $2M Retirement.
« Reply #24 on: January 23, 2010, 10:46:54 PM »

There is a way to do it,

You have to set up a situation so your 2 mil continues to GROW  not stay the  same  not get slightly eaten--   So this can be accomplished by doing two things -  

 Perhaps you do not have to work the same undesirerable job  but having SOME income  would be worth it just so you do not go backward-   The other thing is   as pointed out earlier  you have to manage expenses carefully if you want it to get you all the way through

For example,  

You could move to the Phillipines*(or the like)  where you can afford to live cheap  develop some idea to keep $ coming in -  Have your investments  in Dollars/Euros/Gold etc.  whatever you know and are comfortable with  and  Out run the world while you are essentially  retirded  but still doing something to keep you from going backwards....  There are a million ways to skin a cat  but   that conservative plan would increase the longevity of the bread-   I would seriously think of multiple currencies

You could always move to Alabama! ha
How would Mexico  I really do not know    but you get the idea your $ world in the western world  you expenses are third world  and you are still Increasing your kitty  for another 15 or so years   and with all that time on your hands  you Should be able to make something  happen--  Good luck  

 If you have any impressions or improvements please let me know We are all doing our own version of this regardless of spectrum!  xj












NelsonL

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 1233
Re: $2M Retirement.
« Reply #25 on: January 24, 2010, 03:51:08 AM »

Several years ago, when I had a day job and a 401-k, I read a finance book that said, essentially, that index funds tend to outperform managed funds in the long run, and typically charge lower fees.

Here's an article that says something similar:

  http://www.fool.com/investing/mutual-funds/2009/02/25/index- funds-are-hard-to-beat.aspx

They're (obviously) still affected adversely by the recession, but then, so is pretty much everything else.

The question right now is whether or not we're headed for a double dip.

Anyway, you'd have to assess your own appetite for risk. With that kind of capital, you could generate a decent amount of income just on certified deposits alone.
Logged

Tomas Danko

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 4733
Re: $2M Retirement.
« Reply #26 on: January 24, 2010, 07:08:36 AM »

You could move to Goa and stop working for the rest of your life. In fact, you don't need nearly as much money in order to do so.
Logged
http://www.danko.se/site-design/dankologo4s.gif
"T(Z)= (n1+n2*Z^-1+n2*Z^-2)/(1+d1*z^-1+d2*z^-2)" - Mr. Dan Lavry
"Shaw baa laa raaw, sidle' yaa doot in dee splaa" . Mr Shooby Taylor

compasspnt

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 16266
Re: $2M Retirement.
« Reply #27 on: January 24, 2010, 10:19:23 AM »

Goa looks pretty interesting.

Why do you mention it...or rather, what do you know about the cost of living there?

http://en.wikipedia.org/wiki/Goa
Logged

NelsonL

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 1233
Re: $2M Retirement.
« Reply #28 on: January 24, 2010, 01:03:13 PM »

I was just in Kochi for a week, I think it's around 8 to 10 hours south of Goa, so I would assume it's not that different-- the expat community isn't as large though. It's also on the water, and is very lush and tropical. We never actually made it to the beach though.

Kochi has a very relaxed pace, except perhaps behind the wheel. People are very warm and smile right back at you, the food is wonderful (if you like vegetarian Indian fare, plus there's plenty of fresh fish) and there's a western style cafe in town that makes great cakes, coffee, and chai.

We were there visiting a friend who has retired there under circumstances not unlike those suggested by this thread.

Cost of living is very favorable in Kochi, at least as a guest eating out and taking taxis etc. Land and labor are affordable as I understand it-- our friend (Fletcher, oddly enough) built a beautiful home there with a lot of handcrafted, very ornate wood work.

I'd go back in a heart beat.

Logged

Strummer

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 510
Re: $2M Retirement.
« Reply #29 on: January 24, 2010, 05:13:58 PM »

compasspnt wrote on Sun, 24 January 2010 10:19

Goa looks pretty interesting.

Why do you mention it...or rather, what do you know about the cost of living there?

http://en.wikipedia.org/wiki/Goa



This guy appears to know a bit

http://www.nomad4ever.com/2008/12/01/cost-of-living-chart-go a-india-in-rupees-dollar-and-euro/
Logged
Pages: 1 [2] 3 4  All   Go Up
 

Site Hosted By Ashdown Technologies, Inc.

Page created in 0.036 seconds with 15 queries.