Comments on: My Ever Expanding Retirement Goal http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/ Saving, Earning, and Investing Money Sat, 21 Nov 2009 14:52:35 -0800 http://wordpress.org/?v=2.8.5 hourly 1 By: Money Magazine July 2008 Highlights http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/comment-page-1/#comment-91020 Money Magazine July 2008 Highlights Wed, 02 Jul 2008 12:55:56 +0000 http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/#comment-91020 [...] Updegrave says that your retirement number is a moving target. I came to this conclusion with my My Ever Expanding Retirement Goal. - Inspiring entreprunal highlight (p. 53). I love reading about people starting their businesses [...] [...] Updegrave says that your retirement number is a moving target. I came to this conclusion with my My Ever Expanding Retirement Goal. – Inspiring entreprunal highlight (p. 53). I love reading about people starting their businesses [...]

]]> By: Bob Richards http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/comment-page-1/#comment-90787 Bob Richards Mon, 30 Jun 2008 21:59:26 +0000 http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/#comment-90787 in planning for retirement 35 years into the future--consider that tax rates will likely be much higher than today (because of aging demographics). I would advise not taking a tax deductions today (for contributions into a 401k, for example) and saving 35% when you'll pay 45% tax, or more, on that when you withdraw it. Therefore, make sure your 401k or IRA are of the Roth variety. in planning for retirement 35 years into the future–consider that tax rates will likely be much higher than today (because of aging demographics). I would advise not taking a tax deductions today (for contributions into a 401k, for example) and saving 35% when you’ll pay 45% tax, or more, on that when you withdraw it. Therefore, make sure your 401k or IRA are of the Roth variety.

]]> By: Ryan http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/comment-page-1/#comment-18535 Ryan Tue, 13 Nov 2007 07:12:22 +0000 http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/#comment-18535 It is great that you are actively pursuing the goal of retirement and savings. Don't forget to live life today though. I like to see that you are well on your way with a net worth of over $229k I am 19 and have net worth of $16,000 I want to have a net worth of over $1,000,000 by the time I am 25. Do you think I can do it? It is great that you are actively pursuing the goal of retirement and savings.
Don’t forget to live life today though.
I like to see that you are well on your way with a net worth of over $229k
I am 19 and have net worth of $16,000 I want to have a net worth of over $1,000,000 by the time I am 25.
Do you think I can do it?

]]> By: Dave http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/comment-page-1/#comment-10731 Dave Thu, 14 Jun 2007 17:51:32 +0000 http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/#comment-10731 Take a look at this retirement calculator, it handles inflation, social security, etc. I think it's the best calculator online to see how much you really need to save. http://firecalc.com/calc-research.php Take a look at this retirement calculator, it handles inflation, social security, etc. I think it’s the best calculator online to see how much you really need to save.

http://firecalc.com/calc-research.php

]]> By: The Trader http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/comment-page-1/#comment-10338 The Trader Tue, 24 Apr 2007 17:34:53 +0000 http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/#comment-10338 Have you considered trying to increase your liquid holdings to help meet your alternative income goals? Being more liquid and using the stock market to help generate some cash flow could get you where you want a little sooner. I'm a little older than you and my alternative income goals are higher. I'm averaging about $1500/mo now and started the year with $34k invested. I hope to be above $2,000/mo before the end of the year due to extra money I've deposited and the reinvestment of my monthly proceeds. Inflation is a b1tch, but don't forget that it helps you get pay raises too. Throw that factor in to the formula - your 401k and investment account contributions should grow as your income does. Have you considered trying to increase your liquid holdings to help meet your alternative income goals? Being more liquid and using the stock market to help generate some cash flow could get you where you want a little sooner. I’m a little older than you and my alternative income goals are higher. I’m averaging about $1500/mo now and started the year with $34k invested. I hope to be above $2,000/mo before the end of the year due to extra money I’ve deposited and the reinvestment of my monthly proceeds.
Inflation is a b1tch, but don’t forget that it helps you get pay raises too. Throw that factor in to the formula – your 401k and investment account contributions should grow as your income does.

]]> By: Lazy Man http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/comment-page-1/#comment-8191 Lazy Man Mon, 16 Apr 2007 22:06:23 +0000 http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/#comment-8191 Not very. It's almost all real estate (what used to be my primary residence), 401K, Roth IRA, and Prosper (semi-liquid as I get some money back each month in the form of interest and principle payments). Some would consider this a huge concern, but it's done intenionally. I have an ample HELOC for emergencies and my fiancee has a similar safety net and more liquidity. We also each earn more than enough money to live off of one income if one of us were to lose our job. She has probably some of the best job security in the world, with government/military position. Mine's not quite as good, but when I say I could have a new job in less than a week, I'm not joking. Silicon Valley is hopping with venture capital now and every engineer is at a premium right now it seems. Not very. It’s almost all real estate (what used to be my primary residence), 401K, Roth IRA, and Prosper (semi-liquid as I get some money back each month in the form of interest and principle payments).

Some would consider this a huge concern, but it’s done intenionally. I have an ample HELOC for emergencies and my fiancee has a similar safety net and more liquidity. We also each earn more than enough money to live off of one income if one of us were to lose our job. She has probably some of the best job security in the world, with government/military position.

Mine’s not quite as good, but when I say I could have a new job in less than a week, I’m not joking. Silicon Valley is hopping with venture capital now and every engineer is at a premium right now it seems.

]]> By: erik http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/comment-page-1/#comment-8187 erik Mon, 16 Apr 2007 20:02:41 +0000 http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/#comment-8187 How liquid is your net worth? Are we talking equity in a house, 401k, prosper, etc? How liquid is your net worth? Are we talking equity in a house, 401k, prosper, etc?

]]> By: lazymanandmoney http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/comment-page-1/#comment-355 lazymanandmoney Thu, 07 Dec 2006 16:13:20 +0000 http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/#comment-355 CrookedOne, I believe you are correct. I had tried to factor out Mr. Inflation, but forgot that he comes back each year. I also haven't factored Mr. Tax Man, though a lot of my retirement savings are in tax-deferred accounts. I will have to update my goal to reflect that loftier goal. CrookedOne, I believe you are correct. I had tried to factor out Mr. Inflation, but forgot that he comes back each year. I also haven’t factored Mr. Tax Man, though a lot of my retirement savings are in tax-deferred accounts.

I will have to update my goal to reflect that loftier goal.

]]> By: CrookedOne http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/comment-page-1/#comment-350 CrookedOne Thu, 07 Dec 2006 12:19:37 +0000 http://www.lazymanandmoney.com/my-ever-expanding-retirement-goal/#comment-350 If you make 8% on your money, and inflation is 3-4%, would your goal be closer to $2-2.5 mil? I see 4% interest quite a bit when it comes to estimating your retirement goal - I do not know if this is a safety net or compensation for inflation. This is a loftier goal, but may keep you from chasing a number based on Mr. Inflation. If you make 8% on your money, and inflation is 3-4%, would your goal be closer to $2-2.5 mil? I see 4% interest quite a bit when it comes to estimating your retirement goal – I do not know if this is a safety net or compensation for inflation. This is a loftier goal, but may keep you from chasing a number based on Mr. Inflation.

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