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Joined: Jun 2016
Posts: 2,644
10 point
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10 point
Joined: Jun 2016
Posts: 2,644 |
Being 31 years old...... retirement seems about impossible. I'd really like to not work past 58-60 years. I figure you'd need 5-6 million saved. My financial adviser did the math. I gotta put some $$$$ back fast Interest of $6 million, at 5%, would be roughly $300k/year. I believe I could live off a little less per year than that. And; where are you getting 5% interest; I need to know. My mutual funds have averaged 8% over the last 10 years. Understood, but that's not "interest". Those are investments; we have been on the greatest run in history since 03/09 when the S&P 500 bottomed at 683 and closed yesterday at 2465. I have also enjoyed nice returns(for instance,bought Apple at the bottom) during that period; but can't expect it to continue. Plan to buy some nice dividend yielding stocks on next pullback for retirement income. Yes it is. Interest earned by a fund's asset is paid by dividends. You’re right, it won’t continue. But, that 8% is including the recession for my investments and I came out on the other side looking good. That’s why mutual funds are 5-10 year investments. I don’t buy and sell frequently. I buy and hold for actually 10 years or more.
I hope we have once again reminded people that man is not free unless government is limited. There�s a clear cause and effect here that is as neat and predictable as a law of physics: as government expands, liberty contracts. � Ronald Reagan
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