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how long will his money last?
#7526933
06/04/19 06:50 PM
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Joined: Jun 2011
Posts: 33,799
Buzzsaw
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my brother in law just retired at 67. he has around $750,000 portfolio. most is cash. his health is fair to good. he had prostate cancer years ago, tributes it to agent orange. he gets a small VA benefit for shrapnel wound in his eye.
any way he and i were talking about if he could live comfortable, still hunting (Texas), vacationing and gun collecting in moderation. No safari's, Brown bear hunts etc.
What do ya'll think?
I told him in my experience investing sucks at his age. It takes FOREVER to make money but thanks to Trump and his Tariffs, you can lose $3,000 in three weeks. Make it back in 8 months, MAYBE.
Last edited by Buzzsaw; 06/04/19 06:50 PM.
SPACE FOR RENT
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Re: how long will his money last?
[Re: Buzzsaw]
#7526942
06/04/19 06:58 PM
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Joined: May 2009
Posts: 24,262
dkershen
Rev Dave
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Rev Dave
Joined: May 2009
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Two many unknowns here. What are his cost of living expenses and what is his SS and VA payout bringing in? Assuming his portfolio stays in low risk/ low return investments like CD ladders, it'll last about 20 years at $40K-$45K a year burn rate.
To be sure of hitting the target, shoot first and call whatever you hit the target.www.NewHopeEquine.com - Health and Healing through Horses.
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Re: how long will his money last?
[Re: Buzzsaw]
#7526946
06/04/19 07:01 PM
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Joined: Nov 2009
Posts: 68,999
NORML as can be
^^Cut the Cord^^
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^^Cut the Cord^^
Joined: Nov 2009
Posts: 68,999 |
I told him in my experience investing sucks at his age. It takes FOREVER to make money but thanks to Trump and his Tariffs, you can lose $3,000 in three weeks. Make it back in 8 months, MAYBE.
Pot Stocks are, "HIGH" today.
(R-TX) .-- " TCNN CURL CRLB VFF VRNO AYR SNDL CGC TLRY MSOS "
_=====___=________==-
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Re: how long will his money last?
[Re: Buzzsaw]
#7526949
06/04/19 07:04 PM
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Joined: Oct 2006
Posts: 18,547
ducknbass
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More! More tariffs.
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Re: how long will his money last?
[Re: Buzzsaw]
#7526981
06/04/19 07:58 PM
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Joined: Nov 2009
Posts: 91,416
bill oxner
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Quail hunting is like walking into, and out of a beautiful painting all day long. Gene Hill
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Re: how long will his money last?
[Re: Buzzsaw]
#7526982
06/04/19 07:59 PM
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Joined: Jan 2010
Posts: 23,830
beaversnipe
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He should go to Vegas and bet everything on red.
After that, buy 3 munis for $500,000 each at 4% return and live off the $60,000 a year
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Re: how long will his money last?
[Re: Buzzsaw]
#7526984
06/04/19 08:00 PM
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Joined: Dec 2010
Posts: 8,841
DocHorton
THF Trophy Hunter
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If he stays invested and makes 4% per year he can withdraw $50k per year for 22 years before he runs out of money.
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Re: how long will his money last?
[Re: DocHorton]
#7526987
06/04/19 08:02 PM
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Joined: Jan 2010
Posts: 23,830
beaversnipe
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If he stays invested and makes 4% per year he can withdraw $50k per year for 22 years before he runs out of money. But if he gives it too me, ill make him 8% plus a signed Madoff Timex watch.
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Re: how long will his money last?
[Re: Buzzsaw]
#7526988
06/04/19 08:03 PM
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Joined: Nov 2009
Posts: 91,416
bill oxner
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Mine is still growing. I'm living off my social security, and two pensions. My IRA is even still growing after my RMD.
Quail hunting is like walking into, and out of a beautiful painting all day long. Gene Hill
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Re: how long will his money last?
[Re: Buzzsaw]
#7527038
06/04/19 08:58 PM
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Joined: Aug 2008
Posts: 14,948
don k
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Bitcoin is where you can make some real money.
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Re: how long will his money last?
[Re: don k]
#7527049
06/04/19 09:07 PM
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Joined: Jan 2010
Posts: 23,830
beaversnipe
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Bitcoin is where you can make some real money. Except for today, bleeding 500
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Re: how long will his money last?
[Re: DocHorton]
#7527052
06/04/19 09:09 PM
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Joined: Jan 2007
Posts: 15,413
reeltexan
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If he stays invested and makes 4% per year he can withdraw $50k per year for 22 years before he runs out of money. that oughta do 'er
"Give me an Army of West Point graduates and I'll win a battle... Give me a handful of Texas Aggies and I'll win a war." - General Patton
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Re: how long will his money last?
[Re: Buzzsaw]
#7527057
06/04/19 09:13 PM
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Joined: Jun 2011
Posts: 33,799
Buzzsaw
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OP
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SPACE FOR RENT
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Re: how long will his money last?
[Re: reeltexan]
#7527084
06/04/19 09:31 PM
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Joined: Jan 2010
Posts: 23,830
beaversnipe
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If he stays invested and makes 4% per year he can withdraw $50k per year for 22 years before he runs out of money. that oughta do 'er Except that the $50,000 in 22 years would be worth $25,000 in todays money and will be just enough to pay your prop taxes while eating out of your neighbors trash can. So u gonna need more, always more, more, more, more, more, more. And once you gonna have more, you need more again, and more on top of that more
Last edited by beaversnipe; 06/04/19 09:34 PM.
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Re: how long will his money last?
[Re: Buzzsaw]
#7527174
06/04/19 11:50 PM
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Joined: Nov 2009
Posts: 91,416
bill oxner
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Inflation does not apply to retired people like it does to working people. You no longer buys as much gas, clothes, pay tolls, houses, etc, etc.
Quail hunting is like walking into, and out of a beautiful painting all day long. Gene Hill
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Re: how long will his money last?
[Re: beaversnipe]
#7527177
06/04/19 11:53 PM
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Joined: Aug 2008
Posts: 14,948
don k
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If he stays invested and makes 4% per year he can withdraw $50k per year for 22 years before he runs out of money. that oughta do 'er Except that the $50,000 in 22 years would be worth $25,000 in todays money and will be just enough to pay your prop taxes while eating out of your neighbors trash can. So u gonna need more, always more, more, more, more, more, more. And once you gonna have more, you need more again, and more on top of that more You sell your relic yet? Are you keeping it for future gains?
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Re: how long will his money last?
[Re: Buzzsaw]
#7527180
06/04/19 11:54 PM
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Joined: Apr 2009
Posts: 5,559
Slow Drifter
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If he was in Vietnam and had prostate cancer he can get more from the VA. He needs to get with a service organization like TVC or DAV, just for examples. Tax-free income potentially. PM if you'd like.
Edited to add: 38CFR 3.309(e) and 4.115(b).
Last edited by Slow Drifter; 06/05/19 12:12 AM. Reason: added info.
"I have no idea what WW-III will be fought with, but WW-IV will be fought with sticks and stones." A. Einstein
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Re: how long will his money last?
[Re: reeltexan]
#7527181
06/04/19 11:54 PM
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Joined: Sep 2008
Posts: 1,908
Gacman
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I would check the math but probably this is ok.
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Re: how long will his money last?
[Re: DocHorton]
#7527183
06/04/19 11:55 PM
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Joined: Sep 2008
Posts: 1,908
Gacman
Pro Tracker
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If he stays invested and makes 4% per year he can withdraw $50k per year for 22 years before he runs out of money. this
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Re: how long will his money last?
[Re: don k]
#7527185
06/04/19 11:56 PM
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Joined: Dec 2009
Posts: 13,007
bucksnbass357
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If he stays invested and makes 4% per year he can withdraw $50k per year for 22 years before he runs out of money. that oughta do 'er Except that the $50,000 in 22 years would be worth $25,000 in todays money and will be just enough to pay your prop taxes while eating out of your neighbors trash can. So u gonna need more, always more, more, more, more, more, more. And once you gonna have more, you need more again, and more on top of that more You sell your relic yet? Are you keeping it for future gains? .
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Re: how long will his money last?
[Re: Buzzsaw]
#7527224
06/05/19 12:27 AM
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Joined: Apr 2009
Posts: 5,559
Slow Drifter
THF Trophy Hunter
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Please see my post above and have him get with a Veteran's service organization, if he hasn't already.
"I have no idea what WW-III will be fought with, but WW-IV will be fought with sticks and stones." A. Einstein
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Re: how long will his money last?
[Re: bill oxner]
#7527506
06/05/19 12:14 PM
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Joined: Feb 2008
Posts: 14,098
glens
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Posts: 14,098 |
Inflation does not apply to retired people like it does to working people. You no longer buys as much gas, clothes, pay tolls, houses, etc, etc. Some do but I don't mind spending like a drunk sailor (no offense to drunk sailor's). Wife and I are enjoying what we have accomplished. No use sitting around in the dark looking for grocery deals.
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Re: how long will his money last?
[Re: glens]
#7527508
06/05/19 12:20 PM
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Joined: Jan 2010
Posts: 23,830
beaversnipe
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Inflation does not apply to retired people like it does to working people. You no longer buys as much gas, clothes, pay tolls, houses, etc, etc. Some do but I don't mind spending like a drunk sailor (no offense to drunk sailor's). Wife and I are enjoying what we have accomplished. No use sitting around in the dark looking for grocery deals. I totally agree. When retirement kicks in, more time, more traveling, golfing, hunting, fishing trips. No way i ll sit on my velcro chair counting coupons hoping for rain. Im outta here as much as i can till health will force me on that velcro chair.
Last edited by beaversnipe; 06/05/19 12:22 PM.
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Re: how long will his money last?
[Re: Buzzsaw]
#7527539
06/05/19 12:48 PM
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Joined: Sep 2008
Posts: 6,695
Cochise
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I would say he's better off retirement wise than 90% of Americans.
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Re: how long will his money last?
[Re: Buzzsaw]
#7527568
06/05/19 01:13 PM
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Joined: Oct 2004
Posts: 39,481
redchevy
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Is he going to get social security? Does the 750k count all of his retirements etc.
With no interest earned, no social security and nothing else he has 3,125 a month for 20 years. As long as he doesn't buy guns like you do I think he will be fine.
It's hell eatin em live
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