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Re: How much money do you [Re: cathryn] #7697153
10/21/22 06:19 AM
10/21/22 06:19 AM
Joined: Dec 2006
Posts: 29,750
williamsburg ks
D
danny clifton Offline
"Grumpy Old Man"
danny clifton  Offline
"Grumpy Old Man"
D

Joined: Dec 2006
Posts: 29,750
williamsburg ks
Late 70,s early eighties we had inflation like this. Once it slowed down stories about old people eating pet food were common.


Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
Re: How much money do you [Re: ] #7697154
10/21/22 06:21 AM
10/21/22 06:21 AM
Joined: Sep 2010
Posts: 2,779
Northern lower Michigan
Feedinggrounds Offline
trapper
Feedinggrounds  Offline
trapper

Joined: Sep 2010
Posts: 2,779
Northern lower Michigan
Originally Posted by Mark June
Good post Feedinggrounds. And well played, your humble assistance for the widows, orphans, and aliens among us.
As we all go about our days, there are indeed many people who aren't able to provide for themselves in ways we might consider "comfortable."

Have some made poor choices along the trail? Who hasn't.
Have some made some good choices along the trail? Who doesn't?

I'll comment that when it comes to the end of our trail, I've noticed most people think differently about the things that truly matter. Not everyone, but most do.
Now, the people around them are typically doing the things they typically do.
People who are straight up - are straighter up. People who are quiet - get more quiet. People who are louder - get loudest.
Quite fascinating, the things I learn, as I observe.
We'll all be there one day and until then...
slip a $50 at the St. Vinnie's or buy a vet a meal, or say hi when the person next to you a crab butthead.

You'll end your life with others around you, not as vultures, but as caring people who love you. Till the end.

It's not how you start, it's how you finish, right?

Blessings,
Mark


Amen


you're only allowed so many sunrises... I aim to see every one of them!
Re: How much money do you [Re: cathryn] #7697158
10/21/22 06:29 AM
10/21/22 06:29 AM

M
Mark June
Unregistered
Mark June
Unregistered
M



If you plan to draw $40,000 a year, which is low by American "comfort" standards, because the mean income in 2020 was north of $67,000...
you'll need $1,000,000 in savings.

You want $60,000...
You'll need 1.5M.

These numbers leave > 95% of Americans curbside.

Re: How much money do you [Re: cathryn] #7697165
10/21/22 06:34 AM
10/21/22 06:34 AM
Joined: May 2010
Posts: 10,421
mn north of blakely
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
Posts: 10,421
mn north of blakely
Mark I'm interested to hear any replies to your figures. Most can not grasp the power of inflation and how it erodes purchasing power.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: How much money do you [Re: cathryn] #7697166
10/21/22 06:36 AM
10/21/22 06:36 AM
Joined: Dec 2008
Posts: 28,715
Eastern Shore of Maryland
HobbieTrapper Offline
"Chippendale Trapper"
HobbieTrapper  Offline
"Chippendale Trapper"

Joined: Dec 2008
Posts: 28,715
Eastern Shore of Maryland
Comfort is given to me by the LORD, inflation has little affect on that.


-Goofy-
Re: How much money do you [Re: cathryn] #7697168
10/21/22 06:40 AM
10/21/22 06:40 AM
Joined: May 2010
Posts: 10,421
mn north of blakely
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
Posts: 10,421
mn north of blakely
I'm glad for you.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: How much money do you [Re: Steven 49er] #7697169
10/21/22 06:40 AM
10/21/22 06:40 AM

M
Mark June
Unregistered
Mark June
Unregistered
M



Originally Posted by Steven 49er
Mark I'm interested to hear any replies to your figures. Most can not grasp the power of inflation and how it erodes purchasing power.


True. And most people try to catch the wind during their last years, months, or... days.

Re: How much money do you [Re: ] #7697319
10/21/22 12:06 PM
10/21/22 12:06 PM
Joined: Dec 2006
Posts: 11,296
East-Central Wisconsin
B
bblwi Offline
trapper
bblwi  Offline
trapper
B

Joined: Dec 2006
Posts: 11,296
East-Central Wisconsin
The typical retiree lives on roughly 75-80% of what the made while workilng. We typcally spend more than we think we do unless we do not have the means to do so. Sure in retirement many costs are now gone but there are many costs that escalate that retirees need every day or month, such as food, utiliites, HC, insurance, fuel etc. which are driven by inflation or an economy that needs to raise wages to attract employees, so yes savings are a huge factor in the retirement planning. Many resolve this by part time work as the vast majority of retirees or near retirees have not saved enough to live even at 70% of their working income. I am not living nearly as lean as I could be but then by planning for the future starting when I was 27 years old has made that possible. We can actually live better than we did while I worked. My wife and two children always were always teasing or upset that dad was a frugal tightwad. I smile today when they remind me of that character defect i have.

Bryce

Re: How much money do you [Re: cathryn] #7697336
10/21/22 12:47 PM
10/21/22 12:47 PM
Joined: Dec 2010
Posts: 11,135
Armpit, ak
D
Dirt Offline
trapper
Dirt  Offline
trapper
D

Joined: Dec 2010
Posts: 11,135
Armpit, ak
I think Bryce recommends semi-retirement to deal with inflation. Plenty of work out there at inflated wages.


Who is John Galt?
Re: How much money do you [Re: Dirt] #7697342
10/21/22 12:54 PM
10/21/22 12:54 PM
Joined: Aug 2011
Posts: 45,271
james bay frontierOnt.
B
Boco Offline
trapper
Boco  Offline
trapper
B

Joined: Aug 2011
Posts: 45,271
james bay frontierOnt.
Originally Posted by Dirt
I think Bryce recommends semi-retirement to deal with inflation. Plenty of work out there at inflated wages.


Work is over rated especially with so much free money available from the Gov't.
People nowadays steep themselves in the Bohemian lifestyle.


Forget that fear of gravity-get a little savagery in your life.
Re: How much money do you [Re: cathryn] #7697343
10/21/22 12:56 PM
10/21/22 12:56 PM
Joined: Jul 2017
Posts: 2,665
PA
W
w side rd 151 Offline
trapper
w side rd 151  Offline
trapper
W

Joined: Jul 2017
Posts: 2,665
PA
My goal is to learn to be happy to have the things I need instead of being unhappy because don't have the things I want There are far too many people in society today that are unhappy because they are trying to impress people they don't even like

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