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How much money is just right for you

  1. #1
    It turns out that living in America we can earn whatever money wealth we desire. Some people studied and said like 60 or 70k income a year is the highest level of happiness but that sounds kind of low. Do you think too much makes you a bad person that cant relate to folx of typical means?

    I need to update my life goals and I'm gonna work on the money part. I kind of want an underground warehouse and a King Air but also I went to school with a lot of rich kids and a lot of them were kind of fags and I think having an endless supply of cars to go crash didn't make them into a better person.

    And they weren't even that rich they mostly lived in cookie cutter shithouses on golf courses like their parents were
    Trying to prove something. Yet all of those houses were plumbed like shit and made with shit siding and sheathing. They do this thing here where they inly brick the front side of the house and the rest is sided with cardboard or plastic.. Talk about half assed.
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  2. #2
    I remember hearing two rich old dudes say their millions of dollars isn't enough to retire and they were still "working" and out there grinding in their 70s

    Living below the poverty line for so long has made getting close to it feel like luxury to me. Just the ability to spend money on a coffee or buy a video game is really nice.

    The only things I ever spent money on are electronics and drugs or maybe a car. When I have thousands of dollars I don't do anything with it because I'm retarded and when I get that money I'm too busy working to spend it on anything besides drugs because its easier to buy an ounce of blow after work than it is standing in line at a store on a weeknight waiting to get something and enjoy your NEW CONSOOMER TOY for a few hours
  3. #3
    Read a section about this in the book "Thinking, Fast and Slow" (dont recommend it btw) a long time ago.
    It was was some studies stating making over 75k (relative to where you live) doesnt really increase happiness, as long as you are not under a boot, you are in a pretty good spot. Having more monies can buy you better experiences, but at the end doesnt bring you more happiness.



    If you do want to read up more on it, it is at the very end of the book.
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  4. #4
    POLECAT POLECAT is a motherfucking ferret [my presentably immunised ammonification]
    3.5 million,, thats 100 grand a year for my duration plus a little left over just in case
  5. #5
    Speedy Parker Dark Matter
    All of it becasue too much is never enough.
  6. #6
    Ajax African Astronaut [rumor the placative aphakia]
    Honestly, I don’t know. I make a lot of money, especially for where I live, and I still feel the pull to keep climbing and reaching the next level. I have enough to reach all of my financial goals, so I guess at this point it’s more about being able to set up the next generation and have enough to be able to find creative ways to give it away. The dollar figure is irrelevant. I suppose having enough is when you have options for what you want to do with your life.
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  7. #7
    Ajax African Astronaut [rumor the placative aphakia]
    Originally posted by POLECAT 3.5 million,, thats 100 grand a year for my duration plus a little left over just in case

    2.9% withdrawal rate? You’ve got to invest that better, man.
  8. #8
    rabbitweed African Astronaut
    Originally posted by Ajax Honestly, I don’t know. I make a lot of money, especially for where I live, and I still feel the pull to keep climbing and reaching the next level. I have enough to reach all of my financial goals, so I guess at this point it’s more about being able to set up the next generation and have enough to be able to find creative ways to give it away. The dollar figure is irrelevant. I suppose having enough is when you have options for what you want to do with your life.

    I like the way you think.
  9. #9
    blackbird Tuskegee Airman
    Self‐sufficiency is worth more than money to me.
  10. #10
    Sophie Pedophile Tech Support
    60 to 70k is very reasonable. Mortgage, utilities, car maintenance, gas and groceries would all be accounted for. On the condition you don't get an extravagant house and three cars.
  11. #11
    POLECAT POLECAT is a motherfucking ferret [my presentably immunised ammonification]
    Originally posted by Ajax 2.9% withdrawal rate? You’ve got to invest that better, man.

    splain urself nigga
  12. #12
    POLECAT POLECAT is a motherfucking ferret [my presentably immunised ammonification]
    we aint got no withdrawal rate when gittin our money outa da bank
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  13. #13
    Ajax African Astronaut [rumor the placative aphakia]
    Originally posted by POLECAT we aint got no withdrawal rate when gittin our money outa da bank

    Step into my office, grasshopper.

    Originally posted by POLECAT splain urself nigga

    When you’re getting to that 3.5 mill, you’re in the accumulation phase of investing. During that time, you aren’t putting your money in the bank. You’re investing in mutual funds, ETFs, index funds, things of that nature. You’ll want to have a pretty aggressive asset allocation for a while, somewhere around 90% stocks and 10% bonds, with a drift as you get closer to retirement. You could do even 100% stocks, but the bond allocation will allow you to do periodic rebalancing. Automatically buy low and sell high, you feel? While you are accumulating, you’ll be pulling around 8% compound annual growth rate (CAGR), adjusted for inflation. Don’t believe me? Look up the historical rate of return of the S&P 500.

    Let me run you a quick scenario. I don’t know how old you are or what you’re starting with. You want that $3.5 mill? Let’s say you have 35 years left in your career life to be investing. At an 8% average annual rate of return, compounded monthly, you’ll need to invest roughly $1,526 per month. Definitely doable, but you’d better get started. But is that really needed?

    Lots of studies and scenarios have been done about what they call a safe withdrawal rate. This is the sustainable amount you’re able to withdraw from your nest egg during retirement without running out of money. There are debates about whether or not it should be lowered, but let’s go with 4% as our safe withdrawal rate. If you want to live on $100,000 per year, how much do you need to have saved? Divide 100,000 by 0.04 (or multiply by 25) and you have $2,500,000. I just shaved a million bucks off your target!

    Revisiting the scenario earlier, how much do you need to invest to get there? Using the same inputs, 8%, compounded monthly, 35 years, you’ll need to invest about $1,090 per month. If you’re expecting to live on $100,000 per year in retirement, you can afford to invest $12,000 per year until you get there.

    Let me know if questions.
  14. #14
    POLECAT POLECAT is a motherfucking ferret [my presentably immunised ammonification]
    NO NIGGA,, I just need 3.5 million,, thats what the question was ,, how much do u need,, I need 3.5 million thats a hundred grand to spend a year for the next 30 years and some for if I linger to long.

    I iant tryin to make money or lose it through the game of life in the stock's.

    I'll paint till i'm blind then draw my 1100 a month till i kick it.
  15. #15
    Ajax African Astronaut [rumor the placative aphakia]
    Originally posted by POLECAT NO NIGGA,, I just need 3.5 million,, thats what the question was ,, how much do u need,, I need 3.5 million thats a hundred grand to spend a year for the next 30 years and some for if I linger to long.

    I iant tryin to make money or lose it through the game of life in the stock's.

    I'll paint till i'm blind then draw my 1100 a month till i kick it.

    You and I have different ways of calculating the answer to the question, “how much do you need.”

    How are you going to get that $3.5 MM if not with the help of investing? By saving $116,667 a year for 30 years? Good luck with that. With my method, you’re only saving/investing $457,800 of your own money over that 35 year period. The other $3 million comes from the magic of compound interest.
  16. #16
    POLECAT POLECAT is a motherfucking ferret [my presentably immunised ammonification]
    that wasn't a consideration, the only consideration was how much I needed,as in to be worry free and footloose ,, you my friend are going way to deep for a flip ass site, that being said I'll say I only need 33000 a year to be comfortable but I can get by on half that if need be
  17. #17
    Ajax African Astronaut [rumor the placative aphakia]
    Originally posted by POLECAT that wasn't a consideration, the only consideration was how much I needed,as in to be worry free and footloose ,, you my friend are going way to deep for a flip ass site, that being said I'll say I only need 33000 a year to be comfortable but I can get by on half that if need be

    Nigga lives matter
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  18. #18
    Sophie Pedophile Tech Support
    Originally posted by POLECAT that wasn't a consideration, the only consideration was how much I needed,as in to be worry free and footloose ,, you my friend are going way to deep for a flip ass site, that being said I'll say I only need 33000 a year to be comfortable but I can get by on half that if need be

    There is no such thing as going way too deep on this site. It's not just all a big shitposting party, some people actually know what they are talking about. And i for one appreciate it when people share their expertise.
  19. #19
    POLECAT POLECAT is a motherfucking ferret [my presentably immunised ammonification]
    well yeah I spose but that wasnt the case with me this time so it went how it went. y'all may have to excuse my poor attitude these days but ive caught the political bug and I won't be happy again till heads roll
  20. #20
    Sophie Pedophile Tech Support
    Originally posted by POLECAT well yeah I spose but that wasnt the case with me this time so it went how it went. y'all may have to excuse my poor attitude these days but ive caught the political bug and I won't be happy again till heads roll

    That's alright. I hope the streets will be red, red with commie blood that is.
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