Join Early Retirement Today
Thread Tools Search this Thread Display Modes
CNN Money article - we could have wrote it!
Old 03-11-2006, 09:20 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
dex's Avatar
Join Date: Oct 2003
Posts: 5,094
CNN Money article - we could have wrote it!

NEW YORK ( - I sold a commercial property I owned and after paying off the mortgage on my condo I expect to have about $500,000 left over. Is it possible to live off the interest from $500,000? I'm single and 57 years old.

-- Karen Snipes, Roseville, Michigan

Full article:

A coupe of thoughts about this article.
1. Karen Snipes didn't provide a total net worth
2. Karen didn't provide income needs est.
3. That CNN chose to answer this simple question
4. The answer was very generic
5. I could have wrote it!

If I didn't have to give my name and address; I would give them my net worth, est SS, pension and desired expenses etc. to see if they could give comprehensive advise on how to invest the $ to accomplish my goals. I think they would find one thing I didn't provide to hedge their answer so it was worthless.

Anyone have any ideas how we could challenge CNN without giving names and addresses?

What about if the question came from these boards? We provide a simple RE candidate profile and ask CNN to provide a portfolio of mutual funds to meet the person's goals? It would be important to tell them what to assume and what not to assume.

To keep it simple:
Personal Profile -
Single Male
Current age & age at retirement - 50
Physical Health Excelent - no past health issues - no smoking, no alcohol drinking, exercisies regualy
Mental Health - positive attitude, many friends and family relations; no family history of mental illness
Life expentencey - 85 - no health issues on either side of the family
Retirement Location - Nevada (no state income taxes)

Financial Profile
Total Net worth - $1,500,000
Pension - $10,000(in future year $) /year starting at 60 no increase for inlation
Est SS - $25,000 (in future year $)/year
Automobile - 2005 Honda Civic
No Debts
No Home

Buy a home - apx - $200K

$300K remaining at 85 - est death age

Annual - total net expenses after taxes - $45,000
Expenses grow at 3%/year
How should the home be financed - pay in full; mortage or other
How should cash remaining be invested - allocation and investment vehicle.
When should it be invested into these funds?


Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
dex is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: CNN Money article - we could have wrote it!
Old 03-11-2006, 11:20 AM   #2
Recycles dryer sheets
Join Date: Jun 2002
Posts: 373
Re: CNN Money article - we could have wrote it!

I'm gonna guess you've never wrote for a magazine before, have you?

Cb :P
Cb is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
How much of your nest egg is after-tax money? Rich_by_the_Bay FIRE and Money 51 04-17-2007 08:04 PM
Influences on how you think about money kaudrey Young Dreamers 56 03-13-2006 02:42 PM
How long will money last? Money Mag earlyout FIRE and Money 21 10-29-2003 02:15 PM
Money market in 401K Bill FIRE and Money 2 05-31-2003 07:15 AM


All times are GMT -6. The time now is 11:24 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.