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Talking stocks, trading, and investing in general

Piobaire

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TWSS.
 

Omega Male

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I kinda want an Apple Card. It's made out of TITANIUM, Jerry!
 

patrickBOOTH

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I was interested in getting one to replace my current non-Amex card for the idea that I would get 3% cash back. Well, you only get 3% cash back if you use "Apple Pay" and not the physical card. Wut? :confused: I may be be a millennial, but I ain't got no time for dat.
 

Omega Male

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Gold at six-year high. Fear is getting a nose in front of greed for the first time in a while.
 

Piobaire

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Messing around with one of my favorite pastimes, trying to figure out annual income during retirement. If we retire at 65, even with the penalty we'll both get for not waiting until 67, between her pension and our combined SS we should have a pretty nice base income. No mortgage, not have to divert a material stream of income into retirement savings, a nice Outback and Highlander...just sit back and live off the social safety net and sweetheart government pension.

The American Dream!
 

Piobaire

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Downgrade from an Outback and Highlander? I'll keep working.
 

jbarwick

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Our retirement is based on $100K income which was some arbitrary calculation at the time. With a paid off house and only mortgage taxes, it is pretty easy to live off of. This would give us a retirement age of something in the early 50s. Working longer is just sort of icing on the cake. Also our incomes have greatly increased so all of this is really out of date but for planning purposes works.

I was listening to a podcast this weekend which made a good point. The birth rate is declining and the population is aging. One party wants to spend more and another wants tax cuts, both of which point towards something of a higher national debt in the future. With the lower tax base, taxes will have to push higher to service the debt at some point. All that said, I think tax planning will be an even bigger business in the future.
 

Piobaire

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Don't forget there's no chance SS and Medicare doesn't get means tested in the future.
 

patrickBOOTH

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It is kind of hard to imagine retiring on less than your current income. You get pretty darn comfortable making whatever it is you do and to backtrack seems impossible. I remind myself I lived on much less in the early days of my career and still more or less had the same lifestyle. If I retired at 65 making $1 million dollars, it would be hard to just be like whelp, now it's time to live on $200k without it hurting quite a lot.
 

jbarwick

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It is kind of hard to imagine retiring on less than your current income. You get pretty darn comfortable making whatever it is you do and to backtrack seems impossible. I remind myself I lived on much less in the early days of my career and still more or less had the same lifestyle. If I retired at 65 making $1 million dollars, it would be hard to just be like whelp, now it's time to live on $200k without it hurting quite a lot.
My argument here is that I will not have a mortgage, kid expenses, or be saving 20% of my gross income. It's not what you make, it's what you spend. My spend is something like maybe $50-$60K without watching out on what we spend.
 

Piobaire

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Completely agree with what JB said but there are also other expenses that will go away. Clothing will drop, particularly the cleaning bill, things like the cost of to and fro work daily, etc. if you eat out a lot due to work schedule...these things add up.

On the flip side increased travel expenses as most folks like to travel in retirement. This however is discretionary and will lower as you age. Medical costs will go up as you age. Probably you'll socialize less as you age so those costs will drop...

It is actually a pretty complicated thing to forecast with extreme detail but I think for those that plan the overall picture is a far lower fixed cost basis.
 

patrickBOOTH

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I don't know, at 50 I can't see my expenses really going down. I know plenty of people well into their 60's and even 70's that have more active social lives than I do. I would think in these years you want to live just as well as when you're working. I mean my parents really never lived until I was out of their house and they are more social and out and about than when I was in high school. Unless there is a major health setback I know myself too well to rationalize myself spending considerably less money than I do now.
 

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