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Herman Munster (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:21 AM Original message |
Worth $4 Million -- and Unable to Retire |
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mike_c (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:31 AM Response to Original message |
1. . |
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eleny (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:36 AM Response to Reply #1 |
4. . |
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Nay (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 05:45 AM Response to Reply #1 |
30. LOLOL! My first thought. Cue the violins. |
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Mojorabbit (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:36 AM Response to Original message |
2. If you retire fairly young |
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hfojvt (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:47 AM Response to Reply #2 |
20. yeah 4% of $1,000,000 is only $40,000 |
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mainegreen (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 05:36 AM Response to Reply #20 |
28. 6% of 4 million is 240,000/yr |
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BadgerLaw2010 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 06:58 AM Response to Reply #28 |
37. Agreed on both points. This is either incompetence or gross lying about assets. |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:01 PM Response to Reply #28 |
76. I have a friend who works for a woman with Alzheimer's. |
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sarcasmo (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 06:45 AM Response to Reply #20 |
34. I have never made more than twenty grand my whole life. |
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tkmorris (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:36 AM Response to Original message |
3. If he can't make 250-300k per year off that |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:53 AM Response to Reply #3 |
10. That would be a substantial income if you were young and healthy, |
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sandnsea (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 01:31 AM Response to Reply #10 |
13. Curiously |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 02:28 AM Response to Reply #13 |
15. I'm not defending the struggling wealthy. |
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sandnsea (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:26 AM Response to Reply #15 |
16. If $4 million isn't enough |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:48 AM Response to Reply #16 |
21. I agree with you that medical bills, and caregiving bills, suck everything up. |
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BadgerLaw2010 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 06:53 AM Response to Reply #16 |
36. $4 million should generate $400,000 gross a year in investment income, at least. |
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mainer (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 09:32 AM Response to Reply #36 |
43. investments that regularly earn 10% per year? I don't think so |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 02:44 PM Response to Reply #36 |
74. Safe investments for a retiree that regularly generate 10% after-tax income? |
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BadgerLaw2010 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:52 PM Response to Reply #74 |
84. High end mutual funds and select big cap DRIP stocks. Too much fear of stocks in this thread. |
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lumberjack_jeff (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 06:21 PM Response to Reply #84 |
91. The article said he sold his business for $4m. |
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Marrah_G (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 10:07 AM Response to Reply #15 |
49. One line really stuck with me |
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lumberjack_jeff (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 09:52 AM Response to Reply #10 |
46. Where in the USA would $250k of unearned income... |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 02:57 PM Response to Reply #46 |
75. I know people in NY who pay that much, federal, state and local |
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hfojvt (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:25 PM Response to Reply #75 |
79. those are working people though |
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lumberjack_jeff (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 06:16 PM Response to Reply #75 |
90. Then you are unclear about the differences between earned income and unearned |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Fri Oct-12-07 12:13 AM Response to Reply #90 |
93. Why did you put quotes around something I never said? |
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lumberjack_jeff (1000+ posts) Send PM | Profile | Ignore | Fri Oct-12-07 06:39 PM Response to Reply #93 |
96. You're right. I should have quoted that $250k/year "might seem pretty minimal." |
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Mike03 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:41 AM Response to Original message |
5. That's excessive, in my opinon |
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sandnsea (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:45 AM Response to Original message |
6. Hillary's middle class |
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DefenseLawyer (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:47 AM Response to Original message |
7. What a crock |
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Mike03 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:49 AM Response to Original message |
8. Maybe his lifestyle is just extravagant |
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napi21 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:51 AM Response to Original message |
9. Well just damn! That's just too damn bad, huh? |
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Quantess (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:53 AM Response to Original message |
11. Maybe they should learn money management skills. (end of message) |
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nosmokes (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 01:28 AM Response to Original message |
12. If they're looking for sympathy it's in the dictionary somewhere between |
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truebrit71 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 11:43 AM Response to Reply #12 |
56. ROFL!!! |
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shadowknows69 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 01:55 AM Response to Original message |
14. Oh my heart fuckin bleeds |
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ima_sinnic (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:32 AM Response to Original message |
17. if he can't live a nice retirement on that, he''s incredibly stupid |
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nightrider767 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:32 AM Response to Original message |
18. The Arrogant White Person Syndrome |
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Sugar Smack (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:43 AM Response to Original message |
19. Plight? |
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RiverStone (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 04:06 AM Response to Original message |
22. Awwww, poor millionaires... |
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JCMach1 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 04:25 AM Response to Original message |
23. Exsqeeze me? Even a modest 4% return on a safe investment |
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B Calm (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 04:32 AM Response to Original message |
24. They can always supplement their retirement income by being a greeter |
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earth mom (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 04:37 AM Response to Original message |
25. I know a couple like this-nice people-but they don't really get how the other half are REALLY living |
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TomClash (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 04:38 AM Response to Original message |
26. I have a solution |
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Kiouni (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 04:42 AM Response to Original message |
27. They say you need over 2 mil to retire now at 67 |
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shadowknows69 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 05:44 AM Response to Reply #27 |
29. I think you can get a tax deduction on the hookers |
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HeeBGBz (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 05:47 AM Response to Original message |
31. Ooh, my heart bleeds... |
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charlie (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 05:54 AM Response to Original message |
32. "The key question..." |
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Vinca (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 06:39 AM Response to Original message |
33. OMG, I'm sobbing. I can barely pick myself up off the floor. |
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BadgerLaw2010 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 06:51 AM Response to Original message |
35. My father advises people like this, millionaire-on-paper small businesses. Most are messes. |
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Contrary1 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 07:00 AM Response to Original message |
38. I'm all broke up... |
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HughBeaumont (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 07:15 AM Response to Original message |
39. HUH? |
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A HERETIC I AM (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 09:07 AM Response to Reply #39 |
42. Which "non-risky instrument" is yielding 9%? |
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nightrider767 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 09:51 AM Response to Reply #42 |
44. I'd look at a well run, established mutual fund |
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HughBeaumont (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 09:51 AM Response to Reply #42 |
45. With 3.5 million, a lot. |
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A HERETIC I AM (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 11:27 AM Response to Reply #45 |
51. There's a huge difference between total return and yield. |
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nightrider767 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:22 PM Response to Reply #51 |
63. Well by that standard it certainly can't be done |
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HughBeaumont (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:54 PM Response to Reply #51 |
65. Well, Okie doke, Mr CFA . . . let's say $150k a year. |
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LondonReign2 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 01:40 PM Response to Reply #65 |
71. Errr, I don't think so |
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A HERETIC I AM (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 02:32 PM Response to Reply #65 |
73. NOW you're talkin' |
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MazeRat7 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:20 PM Response to Reply #73 |
78. What Virginia, there is no Santa Clause ? |
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A HERETIC I AM (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:29 PM Response to Reply #78 |
81. Lol...There is, but he has hairy palms and a green skin tone and looks like this.... |
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nightrider767 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 04:42 PM Response to Reply #81 |
86. Dear God! |
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BadgerLaw2010 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:57 PM Response to Reply #51 |
85. Sure, if you're a total bond monkey who wants *no* risk short of US bankruptcy. |
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A HERETIC I AM (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 04:44 PM Response to Reply #85 |
87. !?! Lol....Whining? I was whining? |
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nightrider767 (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 04:51 PM Response to Reply #87 |
88. Ahh,,,, The Love.... |
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Mojorabbit (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 11:17 AM Response to Reply #39 |
50. The problem which I tried |
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Solly Mack (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 07:28 AM Response to Original message |
40. I'll spend my day working up some sympathy |
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NC_Nurse (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 07:31 AM Response to Original message |
41. Gimme a break. |
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Marrah_G (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 09:57 AM Response to Original message |
47. My parents are like this |
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Burma Jones (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 11:35 AM Response to Reply #47 |
54. I think I like your folks |
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Marrah_G (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 11:54 AM Response to Reply #54 |
60. He is a very intelligent man |
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gollygee (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 10:00 AM Response to Original message |
48. So what are non-millionaires supposed to do? |
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KansDem (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 11:49 AM Response to Reply #48 |
57. Easy. Non-Millionaires are suppose to cut the grass and clean the houses... |
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HughBeaumont (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:57 PM Response to Reply #48 |
66. Get body-bagged out of the cubicle. |
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Vilis Veritas (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 11:29 AM Response to Original message |
52. They're my neighbors? |
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Burma Jones (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 11:33 AM Response to Original message |
53. Is the guy paying Alimony? |
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KansDem (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 11:40 AM Response to Original message |
55. The term should be "McMillionaire" |
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sandnsea (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 11:51 AM Response to Reply #55 |
58. These millionaires are NOT middle class |
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AlCzervik (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 11:53 AM Response to Original message |
59. omg i'm lighting a candle and starting a fund for him. |
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Sammy Pepys (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 11:58 AM Response to Original message |
61. Well, he is trying to retire a bit early... |
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WinkyDink (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:05 PM Response to Original message |
62. Yeah, sure. We're 2 retired teachers, and WE live in a 4-bedroom suburban house. GMA*B. |
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pitohui (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:24 PM Response to Original message |
64. ask me if i give a flying happy crappy |
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Greyskye (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 12:58 PM Response to Original message |
67. sounds like his money is going up his nose |
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Lydia Leftcoast (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 01:04 PM Response to Original message |
68. Aw, poor whining crybabies! |
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kineneb (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 01:07 PM Response to Original message |
69. several DUers can teach him how to live on much less |
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KamaAina (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 01:19 PM Response to Original message |
70. Three-bedroom homes? *Minivans*?! Oh, the humanity! |
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lovuian (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 01:42 PM Response to Original message |
72. I think there is a old saying your as rich as what you can live |
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DaveJ (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:15 PM Response to Original message |
77. Maybe they need a charity organization to help |
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Ilsa (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:27 PM Response to Original message |
80. Yeah, Ted Haggard had started a fund to help support |
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DaveJ (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:38 PM Response to Reply #80 |
82. Reminds me of that scene from "The Jerk" |
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Deja Q (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 03:49 PM Response to Original message |
83. Oopsie-doodles. Now think of the people they underpay, then whine |
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Richard Steele (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 04:59 PM Response to Original message |
89. Fuck 'em. nm |
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Fox Mulder (1000+ posts) Send PM | Profile | Ignore | Thu Oct-11-07 06:22 PM Response to Original message |
92. Oh boo hoo! |
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Momgonepostal (1000+ posts) Send PM | Profile | Ignore | Fri Oct-12-07 12:19 AM Response to Original message |
94. Quick! Someone put together a telethon for these sad wretches! |
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cherokeeprogressive (1000+ posts) Send PM | Profile | Ignore | Fri Oct-12-07 12:19 AM Response to Original message |
95. 3+ here and already retired. I GUESS it depends on what your definition of |
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