fusillade762: Well, I'm boned.
doglover: Well, it helps people making over $100,000 after taxes. I mean, if I had 100k after taxes, I'd be able to put half of it in the bank, burn half the remainder on entertainment, and STILL be able to float my current lifestyle with more than a quarter left over to buy diamonds and shiat
JackalRabbit: gravebayne2: ive saved nothing. figure i'll be dead or in jail by retirement.please, can you help me? i need investment advice.
enderthexenocide: if i don't have enough money to retire when i'm 70, i'll just rob a few banks or something. if i get away with it then i'll be set for retirement. if they catch me they'll send me to jail, but i'll be 70 years old so what do i care?
dragonchild: Dude, when I was a teenager I was still mowing lawns and washing cars. I don't think saving ANY of the several hundred bucks I'd earn in any given year would've made much of a long-term difference. And what sort of investment returns are they assuming here? Do they account for the fact that the banks halve your net worth every decade?
itsdan: "Saving 100% of your lifestyle sounds impossible, but it is not. If you earn $100,000 after taxes, you must limit your lifestyle to $50,000 and save the remainder. This strategy will allow you to retire at age 65 with a lifestyle of $50,000."And if you make $50,000 or less to begin with, as most people do?
noneyourbase: OK, wise Farkers -I'm a grad student. I'd like to open a mutual fund, because the $0.25 interest rate just isn't cutting it, frankly. What should I read? How do I start?
ExperianScaresCthulhu: But when you have a good one, you need to take advantage of it.
J Noble Daggett: Write a book about how writing a book can make you millions and sell it to people who believe they can learn to become millionaires by reading a book by somebody who claims to have become a millionaire by writing a simple book about how to become a millionaire.Works every time.\bonus. It doesn't matter what you write because the type of people who buy such books don't actually read them.
JackalRabbit: doglover: Ambivalence: This demonstrates everything that is wrong with rhetorical economists (especially Randians). less than 10% of the population makes "$100,000 after taxes". And far far more than half do not make enough that they can afford to sock away half for retirement.It grossly oversimplifies a process that has no basis in reality. It's all pie in the sky bullshiat that doesn't help anyone.Well, it helps people making over $100,000 after taxes. I mean, if I had 100k after taxes, I'd be able to put half of it in the bank, burn half the remainder on entertainment, and STILL be able to float my current lifestyle with more than a quarter left over to buy diamonds and shiat.and create jobs. don't forget to create jobs.
Krieghund: This is from the Forbes article linked to in TFA:Here are the guideposts:At age 35, you should have saved an amount equal to your annual salary.At age 45, you should have saved three times your annual salary.At 55, you should have five times your salary.When you retire at age 67, you should have eight times your annual pay.That's actually a lot more informative, and happily, I'm on track.
noneyourbase: noneyourbase: OK, wise Farkers -I'm a grad student. I'd like to open a mutual fund, because the $0.25per year interest rate just isn't cutting it, frankly. What should I read? How do I start?FTFM
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