How the hell are we supposed to retire?

pearl said:
get married
buy a house
fix house yourself
????
profit

for the record, i rode Mahlon at 830am and was back home in charlotte at 11:15pm that evening. the drive is a day eater, but a weekend trip for family needs/emergencies is not too baad.
Click to expand...

Ride to drive ratio is a bit off!

That's not so bad for holidays etc. but when kids enter the equation its nice to have family 30 mins away.
 
Last edited:
rlb said:
Ride😀rive ratio is a bit off!

That's not so bad for holidays etc. but when kids enter the equation its nice to have family 30 mins away.
Click to expand...

my brother dropped his kid off at my house today - school had emergency repairs.

he's playing a shoot em up on xbox...do you think being a video game announcer has future earning potential?
he talks the whole time, and not to his teammates!
 
fidodie said:
my brother dropped his kid off at my house today - school had emergency repairs.

he's playing a shoot em up on xbox...do you think being a video game announcer has future earning potential?
he talks the whole time, and not to his teammates!
Click to expand...

grab your gopro and start uploading to youtube ASAP. could be the next dan tdm.
 
stb222 said:
you onviously have not heard the youtubers who narrate games. My son watches a few, mega bucks.
Click to expand...

i assumed they existed - just not that they could make a living doing it.
it is going to be spectator oriented, and there is no reason to only have one narration feed - would make sense to build followers....
 
millionaires and they didn't even invent the games... they just record themselves playing it.
 
Buy House
Get Married
Try not to have kids (er at least a lot)
Forget about keeping up with the Jones, or the Kardashians for that matter.
Learn how to fix/repair things yourself
Make things Last
Drink Cheap Beer, better yet, no beer.
Work hard in order to make more money at work
Keep educating yourself
Retain meaningful friendships and ditch those that get you in trouble
Stay healthy
Try to put some money away
Buy quality
Buy rigid vs. suspension because it is easier to fix
Buy Shimano vs. Sram because it is stoopid cheap
Diversify your investments
If it is too good to be true, it is.
Don't invest in real estate unless you have learned under someone else's dime and have very inexpensive counsel
Get the most value for your time and $
 
Johnny Utah said:
Buy House
Get Married
Try not to have kids (er at least a lot)
Forget about keeping up with the Jones, or the Kardashians for that matter.
Learn how to fix/repair things yourself
Make things Last
Drink Cheap Beer, better yet, no beer.
Work hard in order to make more money at work
Keep educating yourself
Retain meaningful friendships and ditch those that get you in trouble
Stay healthy
Try to put some money away
Buy quality
Buy rigid vs. suspension because it is easier to fix
Buy Shimano vs. Sram because it is stoopid cheap
Diversify your investments
If it is too good to be true, it is.
Don't invest in real estate unless you have learned under someone else's dime and have very inexpensive counsel
Get the most value for your time and $
Click to expand...


Easier to hit the lottery than everything on that list ... 🙂
 
fidodie said:
i assumed they existed - just not that they could make a living doing it.
it is going to be spectator oriented, and there is no reason to only have one narration feed - would make sense to build followers....
Click to expand...

People make millions of dollars opening candy eggs on youtube. It's a strange fuckin game out there.
 
clarkenstein said:
they treat it like a business. as far as taxes go, there are deductions available for your expenses that are only associated with the rental property. you have to keep in mind what kind of tenants you are renting to. a lot of people also outsource the management of the rental property, so they hire a firm to take care of everything for them (repairs, collecting rent, yadda yadda). the firm takes a big cut of the rent and you just end up getting a check in the mail.


**edit** pat already responded...
i think what pat is getting at is that if you have to have a loan on a rental property, you are most likely going to lose money on it. if you can buy it cash, then you'll have a positive cash flow from the rental as long as you screen tenants and do a lot of repairs yourself. if you outsource it, then you'll obviously be cutting down on the scratch you take in.
Click to expand...

I have a rental condo and the rent pays the mortgage, HOA fees and then some...but for any second home/rental property you'll need to put 20% down
 
rlb said:
Fuck it, isn't Bernie going to give us a bunch of free shit? I'm retiring November 9.
Click to expand...

That free stuff will be great. Will we get coupons for bread, and bread lines on odd days of the week and will they accept toilet paper coupons in even days?

If Bernie wins, and Congress agrees to a 70% to 90% income tax rate, then i'll be moving to a safe, low-cost of living area and stop working. Maybe a place with no sales tax and low property tax like Wyoming. Not going to worry about income tax in that state if i'm not working.
Maybe live in a bunker and go off-the-grid. How do I get the RFID chips out of my car tires? Or do I buy used tires?
 
Best thing I did was "roll over" my 401k to a rollover ira. Here you can "invest" it yourself. Just remember no one is going to look out for your money better than you. I longterm buy/hold in my rollover account. Stocks and REITS only with dividends. Warren Buffett's way to richness was valie investing and luck.over time his return on investment isn't much greater than sp500 but he did make some great and timely buys. Do not waste money on etfs in an ira( though etfs and etf options are great for very short term trading but very high risk. I short term trade etfs and options via basic fundamentals that have very consistent (and volatile ) technicals. Do not do this if you do not understand short term trading, the associated fees and have a strong stomach. Margin is the fastest way to lose ALL your money(I have done this before). Investopdeia.com is a great way to study investing and also trade live market time with fake money. A must read is "How to Trade Stocks" by Jesse Livermore...perhaps the greatest trader of all time. I also have a small allocated portion in my ira that is "risky" tech in which I have small positions of the next potential Apple or Facebook. Most will be a loss or break even but all it takes is one to live well off of. If rates really do keep rising I'd watch tbe real estate investing...
 
mattybfat said:
You need to pull that 401k take the tax hit and buy vacation rental/ possible retirement place. Your best equity you own now is the house your living in.

Real estate on the grand scheme of things is a steady pattern of up and down with gains over the long haul.
Click to expand...
Until rates rise...
 
Adding to this...do not watch the news, any social media, or talk to people about market sentiment. Investing involves you, it's a very dark, cold and lonely are when done right. Also, any stock is good when it goes up and bad when it goes down(unless you short of course). The best stock charts have great fundamentals and technically move from the lower left to the upper right in a smooth and consistent manner with little to no noise(news/drama).
David Taylor said:
Best thing I did was "roll over" my 401k to a rollover ira. Here you can "invest" it yourself. Just remember no one is going to look out for your money better than you. I longterm buy/hold in my rollover account. Stocks and REITS only with dividends. Warren Buffett's way to richness was valie investing and luck.over time his return on investment isn't much greater than sp500 but he did make some great and timely buys. Do not waste money on etfs in an ira( though etfs and etf options are great for very short term trading but very high risk. I short term trade etfs and options via basic fundamentals that have very consistent (and volatile ) technicals. Do not do this if you do not understand short term trading, the associated fees and have a strong stomach. Margin is the fastest way to lose ALL your money(I have done this before). Investopdeia.com is a great way to study investing and also trade live market time with fake money. A must read is "How to Trade Stocks" by Jesse Livermore...perhaps the greatest trader of all time. I also have a small allocated portion in my ira that is "risky" tech in which I have small positions of the next potential Apple or Facebook. Most will be a loss or break even but all it takes is one to live well off of. If rates really do keep rising I'd watch tbe real estate investing...
Click to expand...
 
An
David Taylor said:
Best thing I did was "roll over" my 401k to a rollover ira. Here you can "invest" it yourself. Just remember no one is going to look out for your money better than you. I longterm buy/hold in my rollover account. Stocks and REITS only with dividends. Warren Buffett's way to richness was valie investing and luck.over time his return on investment isn't much greater than sp500 but he did make some great and timely buys. Do not waste money on etfs in an ira( though etfs and etf options are great for very short term trading but very high risk. I short term trade etfs and options via basic fundamentals that have very consistent (and volatile ) technicals. Do not do this if you do not understand short term trading, the associated fees and have a strong stomach. Margin is the fastest way to lose ALL your money(I have done this before). Investopdeia.com is a great way to study investing and also trade live market time with fake money. A must read is "How to Trade Stocks" by Jesse Livermore...perhaps the greatest trader of all time. I also have a small allocated portion in my ira that is "risky" tech in which I have small positions of the next potential Apple or Facebook. Most will be a loss or break even but all it takes is one to live well off of. If rates really do keep rising I'd watch tbe real estate investing...
Click to expand...
other add...the best investors don't do it for long and don't work for someone else. Online "investment" services most likely make their money off fees they charge for their services, not actual investing.
 
You must log in or register to reply here.
Back
Top Bottom