Stock Market is the bottom in?

[hunts_with_stick]

Yup, can say the same thing here.

 

[PatinPA]

I’d give my left nu# to go back 20 years and make a purchase I had lined up . Long story but I could retire now .

It was 880 acres in Iowa and 750 were tillable . The asking price was 1100/acre. Had them at $1000/acre. This farm had ponds, wooded draws . It was amazing .

I was gonna do a 1031 exchange into it, but was cash short by maybe 50k . Dang I kick myself . Borrow from the FIL ? You know hindsight is 20/20.

Haha I still yell at my dad for not buying his neighbors property 25 years ago. A house and 100+ all wooded acres for $150K. And another piece on the backside that was 100+ acres that sold for something like $72K back in the 90's

 

[hunts_with_stick]

Haha I still yell at my dad for not buying his neighbors property 25 years ago. A house and 100+ all wooded acres for $150K. And another piece on the backside that was 100+ acres that sold for something like $72K back in the 90's

different times back then. We just bought our little place last year and then 12 acres right next to it 4 or 5 years ago. Was terrifying at the time, as it ate up our savings but it has all worked out. I'm saving now to try and buy more somewhere.

 

[Howboutthemdawgs]

different times back then. We just bought our little place last year and then 12 acres right next to it 4 or 5 years ago. Was terrifying at the time, as it ate up our savings but it has all worked out. I'm saving now to try and buy more somewhere.

Isn’t that the truth. I think most “normal” net worth people are terrified when they take that leap. Whether it’s depleting your savings or going further into debt or both, it’s usually a sleepless night or two. But it generally all works out somehow. And worst case scenario for most, you have an appreciable asset that you could liquidate and get back square if needed.

 

[homerj]

How much you need really just boils down to how much you'll spend. If the spending is minimal the overall savings can be much lower. IMO, if you have a million in retirement accounts and can't make it, you probably have a spending problem. There are millions of people retired now with little to nothing more than social security, getting by somehow.
In my current case, my spending would be too high until my home/properties are paid off. That will be in the next 5-7 years and we'll reassess at that time.
Like @bwoods11 has alluded to, we are planning to leave MN when our careers are over.

You're factoring in S.S. and a pension along with the $1M in retirement accounts? $1M is going to provide $40K relatively safely for 30 years. Certainly better than nothing but you won't be dining on lobster and prime rib very often.

 

[Brian662]

You're factoring in S.S. and a pension along with the $1M in retirement accounts? $1M is going to provide $40K relatively safely for 30 years. Certainly better than nothing but you won't be dining on lobster and prime rib very often.

The 4% withdrawal rate is old news, most people are saying 4.7% or even a front weighted higher WD rate because spending curbs the older you get. Regardless of that, if you $1 million you're doing better than around 80% of retirees. So my point stands, if that isn't sufficient, it's likely a spending problem.

 

[homerj]

The 4% withdrawal rate is old news, most people are saying 4.7% or even a front weighted higher WD rate because spending curbs the older you get. Regardless of that, if you $1 million you're doing better than around 80% of retirees. So my point stands, if that isn't sufficient, it's likely a spending problem.

Spending may curb as we age. It may also increase dramatically if skilled nursing is required.
I've seen projections that 4% is likely too high and that 3.5%-3.8% is a safer bet.
I'll agree that most won't retire with $1M. Many will never retire.

 

[Brian662]

Bill Bengen, the guy who stress tested the 4% rule has changed his tune to 4.5 or 4.7% depending on asset allocation.

Some studies have shown that 84% of retirees die with more money than they retired with. People generally save too much (more than they're capable of spending) for retirement. That's a good thing for society, their heirs, and personal wellbeing.

I'm not advocating for less saving or less spending, simply pointing to the data that shows how most Americans live in retirement and what's left in the end.

 

[Foggy47]

Bill Bengen, the guy who stress tested the 4% rule has changed his tune to 4.5 or 4.7% depending on asset allocation.

Some studies have shown that 84% of retirees die with more money than they retired with. People generally save too much (more than they're capable of spending) for retirement. That's a good thing for society, their heirs, and personal wellbeing.

I'm not advocating for less saving or less spending, simply pointing to the data that shows how most Americans live in retirement and what's left in the end.

I think this is true. Is for me and many that I know at least. Most I know have put some effort into planning. But there is huge number of people that retire with nothing.....and are still waiting for their ship to come in. I don't think those folks ever made a plan.....or don't know where to begin.

 

[Brian662]

I think this is true. Is for me and many that I know at least. Most I know have put some effort into planning. But there is huge number of people that retire with nothing.....and are still waiting for their ship to come in. I don't think those folks ever made a plan.....or don't know where to begin.

Unfortunately that's one of the next biggest hurdles for our country, IMO. Millions upon millions of boomers with near zero retirement savings who will soon be too old or unhealthy for employment.

 

[Foggy47]

Unfortunately that's one of the next biggest hurdles for our country, IMO. Millions upon millions of boomers with near zero retirement savings who will soon be too old or unhealthy for employment.

Old saying in the investment biz: People don't plan to fail.....they fail to plan.

 

[Foggy47]

Looks like Space X could go public soon. Thoughts on this as an investment? Seems like it could be huge to me......but what do I know?

 

[Brian662]

There's not much of a way for any of us peons to get in on a massive IPO like that. My guess is it runs up crazy numbers in the first couple of weeks and then falls to a more reasonable market cap.

 

[Angus 1895]

I am really not a huge Trump fan.

I think he talks poorly of others too often.

But his savings plan for newborns , and his housing plan for starter homes, and cleaning up Venezuela, and pulling outta the green new deal makes me kinda like him.

I can say this about him…….he is busy!