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- Joined
- Oct 28, 2003
- Messages
- 5,105
NEW YORK (CNNMoney.com) - 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:
http://tinyurl.com/n998n
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
Goals:
Buy a home - apx - $200K
$300K remaining at 85 - est death age
Questions:
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?
-- Karen Snipes, Roseville, Michigan
Full article:
http://tinyurl.com/n998n
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
Goals:
Buy a home - apx - $200K
$300K remaining at 85 - est death age
Questions:
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?
