Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 12-23-2014, 02:47 PM   #161
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 1,495
Which thread? I find nothing when I search for it.
__________________

__________________
Options 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 Early-Retirement.org 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!

Old 12-23-2014, 03:09 PM   #162
Recycles dryer sheets
 
Join Date: Feb 2009
Location: Cville
Posts: 399
Quote:
Originally Posted by almost there View Post
There is more than one way to skin a cat. I have about a 4 prong approach, not one is all that huge, but combined I have a feeling it will work.
Same here. DW and I both have small military pensions, she has a even smaller pension from local school district, we have a rental property, a small pile in 401K/IRA and then SSA. My plan is to live off SSA/Rental/Pensions once we hit 70 and SS starts, but we could take a hit to any of them and still be good if the others keep going.

Wish I could say I was smart enough to have planned it this way, with may small sources but alas, being a procrastinator has put us here.
__________________

__________________
RetireBy90 is offline   Reply With Quote
Old 12-23-2014, 03:20 PM   #163
Thinks s/he gets paid by the post
Lakewood90712's Avatar
 
Join Date: Jul 2005
Posts: 1,316
Quote:
Originally Posted by Options View Post
Which thread? I find nothing when I search for it.
Might be this thread Pension ERISA anti-cutback Rule at Risk?
__________________
“The finance industry is 5% rational people and 95% shamans and faith healers.” - Charlie Munger
Lakewood90712 is offline   Reply With Quote
Old 12-23-2014, 03:44 PM   #164
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 1,495
Thanks Lakewood. I'm surprised there weren't any more posts to it. I'll reply there.
__________________
Options is offline   Reply With Quote
Old 12-23-2014, 03:53 PM   #165
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
braumeister's Avatar
 
Join Date: Feb 2010
Location: Northern Kentucky
Posts: 8,591
Actually, this is the one I was thinking of.
Pension Plan cuts
__________________
braumeister is offline   Reply With Quote
Old 12-23-2014, 03:58 PM   #166
Full time employment: Posting here.
ESRwannabe's Avatar
 
Join Date: Mar 2010
Posts: 629
I'm not a millionaire but I'm sure I will be eventually (probably within 10 years). Maybe even a multimillionaire one day.

Saving money is a hard slog at first, but it gets easier because eventually your investment returns start to bring in more than your contributions. That happened to me a few years ago, maybe when I was 36 or so. From then on it has gotten easier each year.

I actually made more off of my investments recently than my entire w-2 income. Its taken about 13 years of saving to get to this point.

I do not make a lot of money. Current w-2 income is around $60k and I haven't had a raise pretty much since 2008. My living expenses are only about $24k a year though. Its not how much you make. It is how high of a percentage can you save that is important.

I'm on track to be able to ESR sometime between 40 and 45, i.e. switch to part time work until 59.5 and then fully retire.
__________________
ESRwannabe is offline   Reply With Quote
Old 12-23-2014, 08:20 PM   #167
Recycles dryer sheets
 
Join Date: Jan 2006
Posts: 168
No worries about people worrying about needing millions to support their lifestyle. What bothers me are the people who say that they are literally dying from their job and they only have $6M saved.

Not only is that more than what most people earn in their 40 year working life, but you could reasonably pull out six figures forever.

Either you are just complaining or you really have zero self awareness. You would rather die than change your lifestyle? really?? I realize that sometimes this involves a spouse who will leave you, but is that really worth dying for?

For OP, currently have $600k (all LBYM and savings from $0) at 50 and expect to have at least $1M by retirement. Won't be as early as many here, but on target for 65 at modest returns and hoping to back it up by 5 years or so if things work out.
__________________
David

I get up at 7 yeah, and I go to work at 9. Got no time for livin yes I'm workin all the time. Seems to me I could live my life a lot better than I think I am. I guess thats why they call me the Working Man.
DJRR is offline   Reply With Quote
Old 12-25-2014, 08:28 PM   #168
Thinks s/he gets paid by the post
Senator's Avatar
 
Join Date: Feb 2014
Location: Eagan, MN
Posts: 3,046
Quote:
Originally Posted by Senator View Post
Here in the USA, anyone can be a millionaire.
Quote:
Originally Posted by H2ODude View Post
Anyone can be but we ALL can't be! If everyone tried, the economy would crash! We need all the fools spending there money on the silly things that drive the market.
I was actually referring to the opportunities here in the USA to start a business and succeed. Or work two jobs and save the money from the extra job. Work extra hours at your hourly job. Or provide some services to your friends and neighbors, such as lawn mowing, house cleaning, hauling junk, handyman services, etc.

Anything you can provide, that be used by anyone, can be your path to being a millionaire. Sitting in front of a video game console never made anyone rich. Nor in front of a TV.

Swapping hours for dollars is the first step in becoming financially independent. Then, having your investments doing it for you is the next step.
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
Senator is online now   Reply With Quote
Old 12-25-2014, 09:25 PM   #169
Recycles dryer sheets
 
Join Date: Aug 2013
Posts: 188
Senator, you CAN make a lot of money playing video games. The top ranked player made $1.18 million and the 100th ranked player made $194K according to www.esportsearnings.com/players
__________________
Al18 is offline   Reply With Quote
Old 12-25-2014, 10:13 PM   #170
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,088
Quote:
Originally Posted by Al18 View Post
Senator, you CAN make a lot of money playing video games. The top ranked player made $1.18 million and the 100th ranked player made $194K according to www.esportsearnings.com/players
+1
There are a lot of professional gamers. This year's League of Legends finals were held in Seoul, prior to that it had been held in the Staples Center, LA. Riot Games, based in Santa Monica, grossed $600M last year.

BBC News - League of Legends gaming final fills Seoul stadium


Quote:
It had all the sound and fury of a big sporting event: 40,000 fans roaring in the cauldron of a huge football stadium.
There were corporate sponsors, young superstar players and a million dollar prize to the winner.
And yet this raucous contest involved barely a drop of sweat and absolutely no muscular exertion beyond the furious clicking of fingers on a computer mouse.
The final of the 2014 League of Legends World Championship may only have been an online game - or e-sport, as the players and promoters prefer to call it - but it had all the feel of any traditional major sporting drama.
The World Cup stadium in Seoul was packed for this year's final between the Star Horn Royal Club from China and Samsung White.
At the previous final a year ago, 32 million people watched around the world, online, or in cinemas.
Quote:
Their hyper-speed on the mouse earned a prize of $1m (£621,267).
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is online now   Reply With Quote
Old 12-26-2014, 06:33 AM   #171
Thinks s/he gets paid by the post
2B's Avatar
 
Join Date: Mar 2006
Location: Houston
Posts: 4,330
Quote:
Originally Posted by Alan View Post
+1
There are a lot of professional gamers. This year's League of Legends finals were held in Seoul, prior to that it had been held in the Staples Center, LA. Riot Games, based in Santa Monica, grossed $600M last year.
The son of a friend of mine was highly world ranked in some video game I never heard of since I don't play anything but the standard games that come with the computer. Microsoft hired him to go to meetings and conventions for them. That went on for a little while, he lost his ranking and job. He was paid just under six figures and expenses. It was nice while it lasted but it didn't last long.

Professional video gamers are probably treated pretty much like professional athletes. They better make money while the sun shines. Most won't ever make a dime but I don't think many get concussions.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
2B is offline   Reply With Quote
Old 12-26-2014, 07:31 AM   #172
Full time employment: Posting here.
 
Join Date: Nov 2008
Posts: 728
Quote:
Originally Posted by eta2020 View Post
150k a year? He must had been a mayor of some big city. Not many people get this kind of the pension. I think having Government pension of 150k is much much rarer then having 3-5 Million in investments.

But I would prefer 3-5 million, because one can not inherit pension.
My former California neighbor retired at age 48 with well over $125,000 a year as a fireman then went back to work as a supervisor at over 100k a year. Lots of stories like this in the LA Times and Orange County Register.
__________________
jerome len is offline   Reply With Quote
Old 12-26-2014, 01:07 PM   #173
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,088
Quote:
Originally Posted by 2B View Post
The son of a friend of mine was highly world ranked in some video game I never heard of since I don't play anything but the standard games that come with the computer. Microsoft hired him to go to meetings and conventions for them. That went on for a little while, he lost his ranking and job. He was paid just under six figures and expenses. It was nice while it lasted but it didn't last long.

Professional video gamers are probably treated pretty much like professional athletes. They better make money while the sun shines. Most won't ever make a dime but I don't think many get concussions.
The video game pros usually burn out in their early to mid 30's as their reactions slow so just like physical sports pros they need to invest their money and/or work on a continuing career before they fade.

There are big money physical sports that have few concussions, such as snooker, pool and darts but like all these things there are very few who get into really big money.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is online now   Reply With Quote
Old 12-26-2014, 02:11 PM   #174
Thinks s/he gets paid by the post
Senator's Avatar
 
Join Date: Feb 2014
Location: Eagan, MN
Posts: 3,046
Quote:
Originally Posted by Al18 View Post
Senator, you CAN make a lot of money playing video games. The top ranked player made $1.18 million and the 100th ranked player made $194K according to www.esportsearnings.com/players
As I said, anyone in the USA can be a millionaire if they put the time and ambition into it.

No doubt there are millionaire video game players, golfers, bowlers, skateboarders, etc. One of my friends was a professional Foosball payer, although he is not a millionaire.

Just remember, when your daughter asks you for money, because your son quit his job and plays video games all day rather than look for a job, he is on the path to millions and your money will be repaid.

Or when your kid that is still in school drops out and plays video games all day, you will know they are on the right path.
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
Senator is online now   Reply With Quote
Old 12-26-2014, 02:42 PM   #175
Thinks s/he gets paid by the post
2B's Avatar
 
Join Date: Mar 2006
Location: Houston
Posts: 4,330
Quote:
Originally Posted by Alan View Post
The video game pros usually burn out in their early to mid 30's as their reactions slow so just like physical sports pros they need to invest their money and/or work on a continuing career before they fade.
He burned out in his mid-20s. The theory from his father is that he spent too much time chasing the women he met at the conferences to really keep up his gaming skills.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
2B is offline   Reply With Quote
Old 12-26-2014, 02:53 PM   #176
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,088
Quote:
Originally Posted by 2B View Post
He burned out in his mid-20s. The theory from his father is that he spent too much time chasing the women he met at the conferences to really keep up his gaming skills.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is online now   Reply With Quote
Old 12-26-2014, 03:01 PM   #177
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,088
Both our kids have always been big time internet gamers, playing and traveling to conventions, but fortunately they have their heads screwed on the right way.

Both went to college and got degrees in Computer Science. DS works in the IT department of a bank but still plays a lot of online games. DD worked for a number of years at Big Blue as a software engineer before going into the gaming industry as a developer where she has been for about 3 years and absolutely loves her job.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is online now   Reply With Quote
Old 12-26-2014, 03:09 PM   #178
Moderator
Ronstar's Avatar
 
Join Date: Aug 2007
Location: A little ways southwest of Chicago
Posts: 9,342
My nephew and one of his buddies spent their high school years playing video games. My nephew later got his ms in computer science and is a systems analyst for a credit card company, his buddy is a navy pilot. That gaming helped those 2, although we thought that they were not going to amount to much while they wasted away their teenage years playing computer games.
__________________
Ronstar is offline   Reply With Quote
Old 12-26-2014, 03:57 PM   #179
Thinks s/he gets paid by the post
Senator's Avatar
 
Join Date: Feb 2014
Location: Eagan, MN
Posts: 3,046
My degree is Computer Science and Math. I got the degrees because I liked to pay video games. I always played them at the laundromat, and most bars. We did not have x-boxes back then.

Looking back, the only connection to a Comp Sci degree, and video games is that you need a good job to be able to afford to play the games.

Now my video games are Excel, Word and Quicken...
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
Senator is online now   Reply With Quote
Old 01-02-2015, 07:06 PM   #180
Recycles dryer sheets
 
Join Date: May 2014
Location: Yuma AZ
Posts: 270
Millions? Nope. Net worth a LOT less than that, but ongoing expenses also (relatively) low, with potential to go lower once the wife retires. It's a cash-flow thing.
__________________

__________________
unno2002 is offline   Reply With Quote
Reply


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
Report: Millions Squandered On Gov't Cards Wags Other topics 21 04-10-2008 08:13 AM
Article - Bleak retirement outlook for millions hankster FIRE and Money 38 03-30-2008 03:29 PM
"Your" Ideas are worth "Millions"!!! AJL FIRE and Money 14 10-11-2005 01:36 PM
Millions of Americans get by on Social Security alone retire@40 FIRE and Money 27 08-19-2005 02:30 PM
Making Millions geeman Young Dreamers 66 08-17-2005 09:18 PM

 

 
All times are GMT -6. The time now is 08:56 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.