Can`t agree more ....

Building ( multiplex ) next door to me was for sale ( 525K ) . I remortgaged 2 other properties to pull out 100K at 2.94 % ( tax deductible ).
The 100K became the cash down on 475K I paid for the new property ( 20% so no insurance premium on mortgage ) .
Income ( rents ) minus expenses ( interest, taxes, maintenance ) will net me about 13K a year . Return on the 100K : 13 % . Cost : 2.94% : profit before taxes : 10.06 %

Notice I do not factor in any increase of value of the property, which here as been about 3% a year ( 14K )

We all have a choice :
Either we work for money .... or the money works for us :2 cents:

They(and I'm not sure exactly who they is) try to brainwash everyone into thinking you need to have the same money to live on when you retire. My mom has had about $75k last for a quite a long time, along with her social security and small pension.

She doesn't live like a pimp, but she gets by just fine.

That said, I'd like to live more comfortably but I don't see myself ever retiring because I love what I do and will do it until I'm physically unable. Also, I have a brand new daughter and I'll be worrying more about wasting money on college in 18 years.

am not sure about us..
but in malaysia lots of people are really dependent for their pensions from government ..
I am not talking about families who own Mercedes (RRP + 300% tax) or similar, but families with regular income.

so there are people who don't have any additional income except their salary, so some of them are kind of surviving

Also depends on:
Your health, Dr. bills and pills add up fast.
Where you will be living. (sell/rent out your house and move to a smaller town where the daily cost of living is lower.)

Monthly cost today will not be the same as your monthly cost 20 years from now.
Example: It would cost me $20 to fill my gas tank years ago and now I'm lucky if it cost 3 times that.

It's all bullshit!

:2 cents::2 cents::2 cents::2 cents: Genius in da house, tell us more :thumbsup

Healthcare wise:

If we talk medical bills at some EU countries people are really protected and live without a doubt they would get help if there is a need. Of course, they pay higher tax but somehow Danish or Swedish bus drivers do very well even comparing to programmers income wise, so all the social layers are covered up.

It looks not so bright for the Eastern/Central EU - some would get help on a smaller scale, no exciting but something.

Ukraine / Russia, ex FSU they keep it low with bribes and "free" medicine where all the patients have to pay a nurse daily to keep the diapers dry or water heated.

All the Asian sites - FUCK knows but everyone says its cheap to live but still takes $$ to get taken care of.

How much $$ is that monthly? Fuck knows, seems like in the Eastern/Central EU USD2-3k would be matching sorta survival level for a couple.

It is actually pretty simple and straight forward, people just don't understand or know how to use debt to make money. It is simply maximizing your ROI and using leverage is one of the best ways to optimize that

Everyone that is busy paying off their house is saving 2-4% interest... the stock market went up 24% last year and (other then this week) is still up considerably more then 2-4%. And that is just the stock market

Of course, the closer you are to retirement (or in retirement), the less risky you should be. But if you are taking out a home equity loan and using that to invest in other real estate, well, thats swapping equity in one building for equity in another which is pretty safe.

Just gotta hedge interest rates rising some...

4/5 of my income goes to shitter. Savings, investments???

might want to contact a doctor or plumber if 4/5 of your income goes to the shitter

ha-ha. :321GFY

Sid70s financial contributions have kept me in vodka for years :thumbsup

I command you to elaborate for the retarded :winkwink:

I think 1 million (in today's dollars) should be a number for many to strive for. Assuming that we can all collect Social Security and that our home has been paid off along the way, a million dollars should provide some comfort and a bit of room to live out the golden years.

As noted, health care costs can mount. The amount of coverage present will have a lot to do with how much cash you need on hand. Do you like to travel, drive a luxury vehicle, wear high end clothing? These are all things to consider when you determine how much to need to have socked away for retirement. Some prefer all of the above, while some prefer the simple life.

I personally began my retirement planning at 28. I have diversified my funds into high yield savings, IRAs, stock portfolio, an SEP account, and an art collection. I also have my home on a 10 year mortgage which was recently financed away from a 30 year. As for my child, I've planned accordingly with a mix of bonds, high yield savings and investment into a 529 plan.

My goal for retirement is to have enough to be comfortable, and I think that is what everyone wants. I don't personally have a retirement # in my mind, but I'd like to have at least $1m in today's dollars on hand for an overall sense of security, as well as comfort of life. This is of course assuming that my wife and I are both collecting on Social Security as well and that our home is paid off.