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Re: "The Number"
Old 01-06-2006, 08:04 PM   #21
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Re: "The Number"

I received this book aa a birthday present this week. I've read about 100 pages so far, and frankly, I don't see much value in a book by someone who seems to have the attitude that a net worth of $1-2 million means you're just scraping by.

Give me a break! We don't all live in the Northeast and I don't need a net worth of $10 million + to feel my life is worthwhile.
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Re: "The Number"
Old 01-06-2006, 08:21 PM   #22
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Re: "The Number"

Quote:
Originally Posted by rmark
My number is a million dollars and a mobile home - I'm halfway there, I have the mobile home.

People think I'm joking, but I'm not.
Mark,
Depending on how many dependents you have, $1M and a mobile on your own lot should be plenty. One of the things I really like about a mobile (I don't have one myself, but I consider it) is that a new, super insulated mobile can be so much cheaper to heat and cool than a typical older home.

I am not crazy about a rural lifestyle, but I would think that there are probably lots of nice university towns where a mobile could be conveniently sited quite close-in fairly cheaply. Some of them you can almost heat just with the refrigerator and the freezer!

Other attractions are that if you install well, you have small exposure of pipes etc to freezing, and you have a low slope roof where you will not likely fall off and break your back trying to do a bit of maintenance.

All in all, sounds good to me. I would like to hear some of your observations about your setup.

Ha
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Re: "The Number"
Old 01-06-2006, 08:42 PM   #23
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Re: "The Number"

While there's nothing wrong with a mobile home (I lived in one many years ago), do be sure to keep fresh batteries in the smoke detectors. And make sure you can bail out of a window should you not be able to reach a door in the event of a fire. A good friend of mine lost his younger brother in a mobile home fire last year . . . they can burn to the ground incredibly quickly.
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Re: "The Number"
Old 01-07-2006, 06:17 AM   #24
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Re: "The Number"

Quote:
Originally Posted by SteveR
Well they are out there; me included. I did not start my path to FI until 1991. I have not won the lottery, I did not inherit wealth from my family, I did not have a high 6 figure income, I did not get massive stock options from my employer and I am not the greatest stock picker in the world. In fact, I lost more than 30% of my 401(k) in 2000 and some other after tax losses that are still in the crapper. I was not a dumpster diver and I spend a lot compared to what I have seen on this board but I also save about 30 % of my gross income each year. Both my late wife and I were able to more than double our net worth in a 10 year period despite the big losses. It is not rocket science, it is just basic saving, investing, debt control, and holding down expenses.

I can only imagine where I would be today if I had been willing and able to start this at 25!!!
I agree. Many people get "religion" at later stages in life and for many different reasons. I would add that sometimes late windfalls (inheritence, option payouts, RE appreciation) actually provide the motivation. "I've gotten a lucky break and maybe I ought to save-invest rather than spend as I have been". Noticed a few recent posters here like that. Never ever too late to get religion. It's the main theme of this site.
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Re: "The Number"
Old 01-07-2006, 08:01 AM   #25
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Re: "The Number"

"I am not crazy about a rural lifestyle, but I would think that there are probably lots of nice university towns where a mobile could be conveniently sited quite close-in fairly cheaply."

Actually my wife and I are university staff. When houses were cheap we didn't have any money. By the time we had any money, houses were too high. So the mobile home on 2.5 acres became the next best choice, only 15 minutes into town. We enjoy sports and theatre so it works for us. My father in law is next door in a newer mobile home - R25 attic insulation, R-20 floor. I tell my wife its our retirement home when hes gone. Now if we could just get some rain to stop all the grass fires.
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Re: "The Number"
Old 01-07-2006, 10:40 AM   #26
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Re: "The Number"

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Originally Posted by Have Funds, Will Retire
Being 51, and with a port slightly north of $300k, I can say that I've missed ER, per se... As far a a magic number, at this point, it's 60, as in age. Unless all hell breaks loose, whatever I have then will be the magic number.

Roll your own!!
My parents both retired in their late 50's with a little less then $300k in the bank. They both have small pensions and health insurance that helped carry them to SS, which they will start collecting next year. They also have the extraordinary ability to pinch nickels until the buffalo craps.

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Re: "The Number"
Old 01-24-2006, 02:14 PM   #27
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Re: "The Number"

According to Marketwatch.com curmudgeon Paul B. Farrell (Greg, are you two related?):

'The Number' is an anti-American myth!

"... the book is merely an engrossing, personal memoir, like "Angela's Ashes," written by another disenchanted boomer searching for the meaning of life in a world controlled by an elite conspiracy that's trapped him and you and me in an illusion, a myth, a fantasy. That myth says somewhere out there is "The Number," a magical mix of stocks and bonds and annuities and insurance and cash and gold and real estate and pensions that will make you feel safer, sleep sounder, feel more secure about your future.

Who implanted this absurd illusion in your brain?

Good question, now we're getting at the real truth here. That illusion was imbedded in your mind by a secret conspiracy, a loose but very real behind-the-scenes network that links Wall Street, Corporate America and Washington insiders with special interest lobbyists. Remember:

Wall Street's insiders split $21.5 billion in bonuses last year, while the stock market lost an average of almost 3% of your money annually the past five years.
The compensation of Corporate America's top executives continues to soar, while worker pensions and health-care insurance are cut and inflation eats away incomes.
And in Washington, your elected representative and civil servants enjoy guaranteed pensions and health insurance and cater to shifty lobbyists like Jack Abramoff.
Yes, they all got "The Number," their number! Wake up folks, you're living in an "I got mine, forget you, world." And with the help of the media, what this "conspiracy" has implanted in your brain is a classic double-bind, a conflict putting you in perpetual anxiety, forced to live with a near-pathological pursuit of two irrational and inconsistent goals.

They want you to believe the myth that you are rational, capable of balancing long-term needs with short-term wants; balancing, for example, buying a new plasma TV or investing that money in an IRA.

But here's the truth: In spite of all the hype about helping you achieve "The Number" (enough to retire on comfortably, says Eisenberg), they not only know that most Americans will never achieve this goal, they don't want you to save for retirement!

Ironic, but true. They need you to keep spending, not saving! Consumers are the engine driving the American economy, even though our out-of-control spending has turned our savings rate negative and our foreign trade deficits will soon implode your retirement as well as the world economy."


http://tinyurl.com/c3y3o

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Re: "The Number"
Old 01-24-2006, 02:18 PM   #28
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Re: "The Number"

Completely true. Expect voluntary euthanasia to be introduced within 15 years, to deal with the detritus from this social experiement.

Remains will be incorporated into pet food.

Ha
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Re: "The Number"
Old 01-24-2006, 02:30 PM   #29
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Re: "The Number"

Has anyone actually read the book yet? Can someone tell me what Hawaii financial advisor was consulted by the author?

Quote:
Originally Posted by HaHa
Completely true. Expect voluntary euthanasia to be introduced within 15 years, to deal with the detritus from this social experiement.
Remains will be incorporated into pet food.
Yeah, I think Harry Harrison wrote a book about that once. Everyone assumed it was science fiction...
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Re: "The Number"
Old 01-24-2006, 02:31 PM   #30
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Re: "The Number"

That myth says somewhere out there is "The Number," a magical mix of stocks and bonds and annuities and insurance and cash and gold and real estate and pensions that will make you feel safer, sleep sounder, feel more secure about your future.


Well, 10 million would probably do it for me.

You're living in an "I got mine, forget you, world"

I see this more all the time. Look at all those on this board who identify themselves as Libertarian.
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Re: "The Number"
Old 01-24-2006, 02:34 PM   #31
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Re: "The Number"

Quote:
Originally Posted by Martha

Well, 10 million would probably do it for me.
Wow, really, that much? I think if I had 2 million (today's ducats) and a paid-off house I would walk away a free man.
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Re: "The Number"
Old 01-24-2006, 02:39 PM   #32
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Re: "The Number"

With 10 million I could more likely take care of other people I want to take care of. And then I could sleep soundly, despite sleeping next to the bear.
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Re: "The Number"
Old 01-24-2006, 02:45 PM   #33
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Re: "The Number"

Quote:
Originally Posted by Martha
You're living in an "I got mine, forget you, world"

I see this more all the time.* Look at all those on this board who identify themselves as Libertarian.
I guess I wonder what's wrong with the foregoing perspective. *Believing that people actually care about you as much as they profess is foolish. *Everyone in this world has an agenda. *You are either helping someone achieve their agenda, or they are helping you to achieve yours.
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Re: "The Number"
Old 01-24-2006, 02:46 PM   #34
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Re: "The Number"

"(Greg, are you two related?):"



No. I try avoid everything on the internet because it's tainted . Plus, I try to avoid reading/doing/thinking anything that's popular. It's an ethics thing. Not much porno either. But I sure like 7 of 9 from Star Trek: Voyager. I wonder if there's a naked picture of her somewhere out there?

PS: Martha, we're you're having Italian-type bread-io pizza for supper. Whether you like it or not. And the car is still dirty too.

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Re: "The Number"
Old 01-24-2006, 02:50 PM   #35
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Re: "The Number"

Quote:
Originally Posted by Apocalypse . . .um . . .SOON
But I sure like 7 of 9 from Star Trek: Voyager.* I wonder if there's a naked picture of her somewhere out there?*
Greg, you should know by now that there is a naked picture of just about *everyone* somehwere out there on the internet.
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Re: "The Number"
Old 01-24-2006, 02:52 PM   #36
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Re: "The Number"

Quote:
Originally Posted by Martha
Well, 10 million would probably do it for me.
Not enough for complete safety though.
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Re: "The Number"
Old 01-24-2006, 02:53 PM   #37
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Re: "The Number"

Quote:
Originally Posted by brewer12345
Greg, you should know by now that there is a naked picture of just about *everyone* somehwere out there on the internet.
Really, how do you know?
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Re: "The Number"
Old 01-24-2006, 02:54 PM   #38
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Re: "The Number"

Quote:
Originally Posted by Martha
With 10 million I could more likely take care of other people I want to take care of.* *And then I could sleep soundly, despite sleeping next to the bear.
Please include me in "other ppl" and I will go ahead and quit now. *
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Re: "The Number"
Old 01-24-2006, 02:57 PM   #39
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Re: "The Number"

Quote:
Originally Posted by Apocalypse . . .um . . .SOON
Really, how do you know?
pick someone, anyone and plug it into google images. With enough diligence you will find them in the buff. Sometimes its a faked picture (Gillian Andersen had a famous one that she sued to get taken down), but a picture is a picture...
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Re: "The Number"
Old 01-24-2006, 02:57 PM   #40
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Re: "The Number"

Quote:
Originally Posted by Jay_Gatsby
I guess I wonder what's wrong with the foregoing perspective. Believing that people actually care about you as much as they profess is foolish. Everyone in this world has an agenda. You are either helping someone achieve their agenda, or they are helping you to achieve yours.
Because it is immoral?

You must do things for some people simply because you care about them, don't you? Or because it simply is the right thing to do?

A social contract is a good thing.



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