Could You Retire On One Million Dollars $$ ? Can you even make 1 million?

If money isn't real just stop paying them bills and let it run its course...

Anticipation Popcorn GIF
 
Oh I agree.. the sad part is it's to the point a digital number on a computer that can and is manipulated is worth more than what you can physically put in your hand.

And it's going to get worse...
 
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Money isn't real.
:popcorn: Oh boy!

You're not wrong, or at least I don't think so.

Money is an abstract concept. As someone else pointed out, it's a token that is assigned an arbitrary value that is convenient to trade for whatever you want. Much easier to trade a token rather than bartering for specific goods. I want clothes, but the guy who makes clothes needs milk. I don't have milk, I have steel. So I need to find a farmer with milk that needs steel so that I can get clothes.

But the global economy is completely speculative. Take Elon Musk for example, a supposed net worth of $187 billion. A vast majority of that is based on his holdings of his various companies. But the perceived value of those companies changes in an instant. Tesla is valued at about half what it was a year ago, The valuation dropped $500 BILLION dollars in a year. Nothing has substantially changed in hard assets (I don't think), but it's all about perceived future value.

So yeah, money isn't real anymore
 
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Do what you can to pay off your house, cars, any big credit card balances, and other big ticket items BEFORE you retire. You'll find that you can live pretty comfortable off not as much as you think when you don't have a bunch of bills. Remember, you're still about 30 years away in the example. So your favorite G-body, extra car parts, tools, etc., will likely already be in your garage by then. So that's much less $$ you need to buy that junk since you already should have it.

I think one of the most important things to me is quoted above. Do not go into my 60s, heck even 50s if possible, with a mortgage and car notes. One time expenses suck, but the biggest killers for me are revolving payments. Other than those, I feel ok. I'm scared of medical expenses though. I see those rising, but perhaps "universal health care" will be in the United States (even if you believe you may sacrifice overall quality). Right now, one wrong trip to the doctor, even with BCBS, I can be out of hundreds or thousands.

To answer the initial question, I don't think a million would cut it. I would assume having an income generating partner helps a lot in these equations.
 
:popcorn: Oh boy!

You're not wrong, or at least I don't think so.

Money is an abstract concept. As someone else pointed out, it's a token that is assigned an arbitrary value that is convenient to trade for whatever you want. Much easier to trade a token rather than bartering for specific goods. I want clothes, but the guy who makes clothes needs milk. I don't have milk, I have steel. So I need to find a farmer with milk that needs steel so that I can get clothes.

But the global economy is completely speculative. Take Elon Musk for example, a supposed net worth of $187 billion. A vast majority of that is based on his holdings of his various companies. But the perceived value of those companies changes in an instant. Tesla is valued at about half what it was a year ago, The valuation dropped $500 BILLION dollars in a year. Nothing has substantially changed in hard assets (I don't think), but it's all about perceived future value.

So yeah, money isn't real anymore
I agree with you, but the money is still real in the fact that I can absolutely go to one of my investment accounts and borrow "real money" against one of my assets. It's actually a legal way to avoid income taxes. Be worth a billion, borrow half a billion against that billion that you have in stock, use that 500 million to buy/build several commercial properties, pay yourself back. So now instead of selling the stock and having to pay taxes on 500 million, you just take out a loan.
 
I agree with you, but the money is still real in the fact that I can absolutely go to one of my investment accounts and borrow "real money" against one of my assets. It's actually a legal way to avoid income taxes. Be worth a billion, borrow half a billion against that billion that you have in stock, use that 500 million to buy/build several commercial properties, pay yourself back. So now instead of selling the stock and having to pay taxes on 500 million, you just take out a loan.
And then right as you finish building, the bubble bursts, and your new assets are worth pennies on the dollar to what's invested. NOBODY knows when the music stops in musical chairs. Risk vs. Reward assessments are always needed. Chance of success needs to be somewhat reasonable, otherwise you could be in a pit looking up when the smoke clears. Nobody wants that, either. I'm pretty sure at this point of my life, if I had a billion, I don't think I'd need any more.

If you can work that plan like that to your advantage, though, then by all means... there's always several ways to success, however one would measure that. I don't give two craps about real estate, so I'd likely invest in companies that rent out your $500 million commercial properties.

But you do have a certain amount of time to pay back the loans, or they become fully taxable distributions.

No vehicle of money is 100% real. Look at bitcoin. It's vapor money. It's not even tangible. You could fit $$BILLIONS$$ worth of bitcoin in your front pants pocket and have room for more. All that value put on something that doesn't exist. :unsure:

Someone must think money is real. Print up a couple copies of those non-real Benjamins on your HP printer and try to deposit them in your bank and see how fast the Treasury puts you behind REAL bars in a REAL jail.

Even gold, silver, and diamonds, etc., have no real value other than what someone placed on it. If everyone agrees something is of value, then it is. Like G-body parts. If I was smart, I'd have plucked up every 8.5" rear end I ever came across at what used to be giveaway prices. Smog dog 80s car rear ends didn't bring squat years ago. I can't tell you how many 8.5" rears I passed up a $150-200. Today- almost unobtanium and pricey AF if you do find one.

But whichever plan you choose, consider it a PLAN. I don't consider anyone greedy if they're trying to ensure they have at least enough (as they see it) to maintain, or even improve, their income for their "non-earning" years. Always keep in mind the plan needs to be flexible so you can change it as needed to suit your ever-changing situations. Fit it to your family's needs. The sooner you start doesn't guarantee success, but it should increase your chances. You can't hit a home run if you never swing the bat.

Most people look at it two ways- Greed is terrible. It's insatiable and will eat you alive because you'll never be satisfied. OTOH, greed is the main engine of capitalism. I like the way Gordon GeKko thinks:

Gordon-Gekko-Greed-Lack-Better-Good.jpg


Robert-Reich-Greed-Out-Wall-Street-Pavement-jpg.webp
 
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A motto I've had.. something is only worth what you can sell/trade it for. Up to you to turn it into money or another item.

You're paying your house note with the numbers they change from your bank account to them. You change your bank account numbers by your employment popping their numbers from their account to your account.

You can change your own numbers by physically adding/subtracting what we currently are using as physical estsblished money. You're not depositing car parts or whatever else X item to your own bank account. So "money" exists, just outside of your employment and with very few bills & items you buy that you pay in person, and that's if you use cash/coins.

Amazing what we've come to.
 
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