Retirement

35 comments

• RandomMember

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  6 years ago

  Almost sounds like sarcasm.
• Warrenboy75

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  6 years ago

  "almost?".............:--)
• tijuana_tim

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  6 years ago

  We accept Bitcoin in Tijuana. Why don’t you come down and celebrate your wise decision!
• twentyfive

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  6 years ago

  Only half, why not all ?
• Warrenboy75

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  6 years ago

  He learned his lesson from investing in the Pet Rock Scam from the 80's?
  
• twentyfive

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  6 years ago

  ^Well he didn’t make any money off those pet rocks, but his aim got much better ........
  better duck ;)
• max_starr

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  6 years ago

  Bitcoin is in a bear market now...headed down to 5K.....I only make money because I buy it from people who need to sell at a discount, and sell to those who want to buy at a markup.....I do this over and over again.
• twentyfive

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  6 years ago

  ^cool story bro.
• Papi_Chulo

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  6 years ago

  Congrats - pretty-soon not only will you be a customer at the Inner Room; you may be the owner
• 4got2wipe

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  6 years ago

  Bitcoin is so last year.
  
  Invest in my cryptocurrency: wipecoin!
  
  Can be redeemed for super-brilliant rimjobs from any forward-looking sluts that accept wipecoin. Can also be used for home remodels as long as you are willing to add a bidet to all of your bathrooms!
• Warrior15

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  6 years ago

  I"m buying land just east of the San Andrea Fault. So after the BIG ONE, I'll have beachfront property. I got that idea from Lex Luther.
• twentyfive

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  6 years ago

  ^thats really old, actually that is the premise of the Las Vegas real estate market.
• shadowcat

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  6 years ago

  Gee! I retired 9 years ago. Is it too late for me to cash out and buy bitcoins? :)
• twentyfive

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  6 years ago

  @4Got isn’t that shitcoin?
• WPBpl

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  6 years ago

  LOL! Enjoy,that retirement eating cat food....
• Cashman1234

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  6 years ago

  I think 4got’s currency is SkidCoin - no need to elaborate any further...
• Cashman1234

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  6 years ago

  Just to clarify - I get my investing advice from Juice. He’s a CFP - or maybe he said he eats at KFC? What’s the difference?
• THE CHAINDOG

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  6 years ago

  I can leave in less than 3 months at 56 percent, my deffered comp is north of 500 k, I stay 2 more years I am out at 70 percent, 4 years 75 percent or 6 years for 80 percent. If I stay 4 and take 25 k from my deffered comp each year I am out at 100 percent.
• Cashman1234

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  6 years ago

  Chaindog - if you can retire and get $500 k in comp each year - that’s impressive! I’d find very little reason to work if I had comp of $500 k a year waiting for me!
• twentyfive

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  6 years ago

  ^I don’t think that’s what he is saying, I think those are his totals deferred, to get a guaranteed payout of 500K annually you would need close to one billion principle assuming interest at about 5% and even that is a stretch.
• twentyfive

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  6 years ago

  ^ I meant 500million sorry.
• RandomMember

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  6 years ago

  Isn't it $10M or am I missing something?
• twentyfive

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  6 years ago

  ^Not enough just figure a rate at 4% of principle that is what is sustainable over a 25 year life expectancy at retirement age 65.
• Mate27

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  6 years ago

  Going out at 100% is increasing your standard of living because you are no longer paying into retirement benefits like social security, pension, or deferred compensation accounts. Although it’s arguable that medical
  Costs eat away into your 100%, you can usually figure about 20-25 % of an employee’s paycheck goes toward retirement benefits. Hopefully your medical costs aren’t 20-25% of your income in retirement!! It is likely more than 20-25 % when you’re elderly, but more likely 10-15% in your 60’s with relative good health.
  
  It’s the later years in life that can drain your savings accounts, leaving little to your heirs. Chaindog is a classic example of someone who should think about long term care policies, which get way too expensive by age 60. Some people rely on family members to be their long term care policy, but others don’t want to be a burden on their remaining loved ones.
• Cashman1234

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  6 years ago

  I was wondering what the $500 k represented. Not an annual distribution - but a sum to be drawn from.
• Mate27

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  6 years ago

  Sounds like Chaindog may be a civil servant. The formula he alluded to in his pension gives him about 2.5 % annually for each year of service, or 2.5 % of his highest compensated years. Hopefully his high 3 years since wage inflation is starting to take its hold. Most pensions, even social security(CPI), do not have strong escalation formulas to keep
  Pace with inflation during your retirement years (COLA).
• THE CHAINDOG

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  6 years ago

  the 5000 plus is a lump sum, If I take 25 k a year from it and work 4 more years I am retired at full pay, Chaindogs do not live long, average age of death is 59
• minnow

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  6 years ago

  Repeating from a prior post wrt Chaindog: He has a damn good pension, insofar as percentage of income replacement that is virtually unmatched in the private sector outside of the "C-suite". I'm guessing he's LEO, given the low (59) life expectancy in his line of work.
  
  It appears that working a few more years would significantly increase his pension for every additional year beyond what he already has. I'm guessing he has ~25 years in which had a 2.2% pension multiplier, with each additional year beyond 25 yielding a 2.5% multiplier per each additional year. I'm guessing CD is in his late 40's or early 50's. Longevity statistics can be misleading as Leo's killed in the line of duty can lower the life expectancy statistics. If someone is already 50 and still alive, I figure he'd live several years past 59 to balance out the younger killed on duty statistics.
• Warrenboy75

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  6 years ago

  Basically if you want a 6 figure retirement you need 2.5 million dollars. ( using the 4% rule) and if you are lucky enough to have a pension --government of school teacher you can take the pension and subtract the yearly amount from 100 K to figure out the difference.
  
  As for Social Security if you are over 40 treat it as icing....if you are under 40 I wouldn't count on it --not yet anyway.
• RandomMember

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  6 years ago

  Back to the original topic, Bitcoin's price was artificially inflated last year, according to a research study:
  
  https://www.nytimes.com/2018/06/13/techn…
  
  "A concentrated campaign of price manipulation may have accounted for at least half of the increase in the price of Bitcoin and other big cryptocurrencies last year, according to a paper released on Wednesday by an academic with a history of spotting fraud in financial markets.
  
  The paper by John Griffin, a finance professor at the University of Texas, and Amin Shams, a graduate student, is likely to stoke a debate about how much of Bitcoin’s skyrocketing gain last year was caused by the covert actions of a few big players, rather than real demand from investors."
  
  
  Let's face it: BItcoin is a Libertarian fantasy cloaked in techno-gibberish.
  
• twentyfive

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  6 years ago

  @Random There’s been a lot of shady stuff surrounding these digital currencies for a long time I’m glad I sold it at a reasonable profit and I still have a small stake on Coinbase, with about 20% of the profit I took from it. Now it looks like Steve Bannion is involved in some bitcoin dealing, I wouldn’t be surprised to see some renewed interest in the techno coinage again, if it goes up more than 50% I’ll pull out for good.
• san_jose_guy

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  6 years ago

  SJG Coin, starting at only $1000 per coin. Get in on the ground floor.
  
  http://www.falconworkshop.co.uk/A2_Penny…
  
  SJG
  
  Book Publishing Industry
  https://www.tuscl.net/discussion.php?id=…
• Lord_Cthulhu

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  6 years ago

  Wise choice, enfeebled one. Considering you passed directly from middle age into decrepitude, how long do you expect to live anyway - 1-2 years max?
• minnow

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  6 years ago

  @Random- Instead of chiding people for "hijacking" thread, how about chiding OP for misleading thread title. Perhaps he should have titled it "Bitcoin Investing: An Exercise In Onanism And Sarcasm."
• flagooner

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  6 years ago

  LOL. I'm working on my clickbait skills.