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Re: What You Can Learn From 1,000 Millionaires
Old 12-24-2005, 04:28 PM   #41
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Re: What You Can Learn From 1,000 Millionaires

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Originally Posted by cube_rat
Hey, watch your mouth!*
Sorry, Sweetie Pie.

Hope you have a great holiday season, and will forgive my insensitive remark.
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Re: What You Can Learn From 1,000 Millionaires
Old 12-24-2005, 06:49 PM   #42
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Re: What You Can Learn From 1,000 Millionaires

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She puts cup holders into the Camries that are built there. She makes $70,000 per year plus good benefits.
Toyota pays better than GM? The average wage for a GM auto worker is $27 per hour or ($56,160/year) based on the following excerpt:
After Delphi filed for bankruptcy, its chairman and CEO, Robert "Steve" Miller, said that the company needs to get rid of a "substantial" number of its North American operations and reduce its 51,000-member workforce. He wants the UAW to agree to concessions that would reduce members' average wage-and-benefit packages from about $65 an hour to about $20 or $25 an hour. Of that total compensation package, the hourly wage alone would drop from $27 to $10 if Miller has his way.

http://knowledge.wharton.upenn.edu/article/1301.cfm
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Re: What You Can Learn From 1,000 Millionaires
Old 12-24-2005, 07:23 PM   #43
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Re: What You Can Learn From 1,000 Millionaires

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Originally Posted by Spanky
Toyota pays better than GM? The average wage for a GM auto worker is $27 per hour or ($56,160/year)...
The NPR story says:

"Renee Brown works assembling the Camry -- the nation's best-selling car. She puts in seat belts and cup holders at Toyota's plant in Kentucky horse country.

... Brown makes $70,000 a year -- more than twice the average manufacturing wage in the area.

...Brown says that Toyota's wages are so close to the union's, she doesn't see the advantage."


http://www.npr.org/templates/story/s...toryId=5062797

Maybe the difference is overtime and/or shift differential for working nights, etc.

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Re: What You Can Learn From 1,000 Millionaires
Old 12-24-2005, 07:25 PM   #44
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Re: What You Can Learn From 1,000 Millionaires

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Originally Posted by Jarhead*
Ha: *You ungrateful old fart you.

I've spent some time in your area, (Puget Sound) and it is hard to beat.

You've probably spent as much time as I have in the retired area. *(Almost 20 years for me.) As near as I can figure, at least that amount of time for you.

Neither one of us has had to worry about reporting to work and taking care of "stuffing paper cups". *

Seriously, do you really give a rats ass about what anybody else is making, as long as you are living your life the way you want to? *(I think not).

Your point is understandable, but in the final analysis, so what?

In any case, have a great Holiday Season. *
(Get out there and Salsa your butt off).
Hey Jarhead, Merry Christmas and Happy New Year to you too! * I agree 100% with everything you said. I just didn't want anyone to think I was claiming *$3M in invested assets.

I have worked less than anyone I know personally, and so far at least God has not risen up to smite me for my sloth. It's hard for me to say exactly when I quit, because I was freelancing, but it has been over 20 years now, as you said. Congratulations on your own long retirement!

Ha
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Re: What You Can Learn From 1,000 Millionaires
Old 12-24-2005, 08:54 PM   #45
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Re: What You Can Learn From 1,000 Millionaires

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Originally Posted by HaHa
Hey Jarhead, Merry Christmas and Happy New Year to you too! * I agree 100% with everything you said. I just didn't want anyone to think I was claiming *$3M in invested assets.

I have worked less than anyone I know personally, and so far at least God has not risen up to smite me for my sloth. It's hard for me to say exactly when I quit, because I was freelancing, but it has been over 20 years now, as you said. Congratulations on your own long retirement!

Ha
Lawdy, 20 years! I am way behind, but getting there as fast as I can. Congratulations to you and to Jarhead, who's been teeing off for about the same length of time.
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Re: What You Can Learn From 1,000 Millionaires
Old 12-25-2005, 03:48 AM   #46
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Re: What You Can Learn From 1,000 Millionaires

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Insurance wise, we carry high limit, very high deductible policies for home and cars and an umbrella.* I think i'm at 10,000 ded for the house and 2500 on the cars.* We'll drop the collision and comprehensive on the cars next year as they pass the magic 5 year mark.* Hell, a few times when I couldnt find my Expedition in the mall parking lot I started praying it had been stolen...

The fatter deductibles really knocks down the price tags.
Just currious, but do u carry high deductible health insurance also? If so, for tax purposes, can you deduct everything over 7.5% of AGI? Seems like this could be a good strategy for offsetting some health insurance costs.

Lance
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Re: What You Can Learn From 1,000 Millionaires
Old 12-25-2005, 11:42 AM   #47
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Re: What You Can Learn From 1,000 Millionaires

I had a fairly inexpensive HMO while I was single, now we're on the wifes crappy blue cross plan from work. I'm amused that the hospital puts lousy coverage on their employees, but it is free.

We have a 1500 ded, pay 20% after that to a yearly max of another 1500 or so.

Handy to have this year with the baby showing up last january, but pretty much all out of pocket from here on.

When I was on the HMO and severely restricted my 'ordinary income', I was able to deduct a huge amount of my annual costs for the plan.
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Re: What You Can Learn From 1,000 Millionaires
Old 12-25-2005, 11:27 PM   #48
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Re: What You Can Learn From 1,000 Millionaires

Even though Toyota pays close to union wages the fact is they do not need the unions ok when changes are needed. Without a union management is in complete control. runnerrBlack][/color]
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Re: What You Can Learn From 1,000 Millionaires
Old 12-25-2005, 11:43 PM   #49
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Re: What You Can Learn From 1,000 Millionaires

The way I am reading this board most poster must have much more money than I. I feel pretty comfortable retiring at 56 on a million enough so that I am building a new house and with the money I get from the sale of my existing home I will carry a mortgage of about 175,000. I was scared at first but I figure that I do have enough to pay it off it needed. I am also considering that SS will kick in at 62. I know there is no guarantee. Anyway as I get older the equity in the new home will increase. I look at it as a way to enjoy your money while you are still young and all it really is doing is moving my savings from one security to another. Actually I look to pay down the mortgage to 140,000 soon after the house is completed. I donít worry anymore and try to enjoy myself. Then again it doesnít take much at 30,000 a year I will do fine. My mine interest is running marathons, biking, swimming and doing triathlons. So I consider my self in the best of shape. So lay it on me am I nuts or what.

Runnerr
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Re: What You Can Learn From 1,000 Millionaires
Old 12-26-2005, 05:38 AM   #50
 
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Re: What You Can Learn From 1,000 Millionaires

Hi Runnerr -- I don't think that you're crazy at all. If you are happy at $30K, you've got it made in the shade. Keep up the fitness activities -- probably more important to a happy retirement than a lot of extra money! I think that a much of the discussion in this thread was sort of philosophical -- what constitutes "rich?" -- rather than "advice" for anyone in particular.
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Re: What You Can Learn From 1,000 Millionaires
Old 12-26-2005, 09:22 AM   #51
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Re: What You Can Learn From 1,000 Millionaires

Quote:
Originally Posted by runnerr
The way I am reading this board most poster must have much more money than I.

Runnerr
According to a recent poll by Dan Tien, you are doing fine.
http://early-retirement.org/forums/i....0;viewResults
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Re: What You Can Learn From 1,000 Millionaires
Old 12-27-2005, 01:25 AM   #52
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Re: What You Can Learn From 1,000 Millionaires

Runnerr;
I congratulate you.
You are living life on your own terms. To me thats
what's it all about. I have seen people chasing the
money at the expense of their family, health, friends,
and in the end( if they dont die before) a good %
conclude it wasnt worth it.
A person chasing $ is like a dog chasing his/her tail.
They eventually stop, worn out and frustrated,
wondering why they cant catch it.( People with hyper
dogs know exactly what I mean.) You love them
anyways..
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Re: What You Can Learn From 1,000 Millionaires
Old 12-27-2005, 09:16 AM   #53
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Re: What You Can Learn From 1,000 Millionaires

Back when I was self employed, I carried $2500 deductible + $1000 co-pay health insurance. I didn't have $2500 then, but if I was injured it would limit what I owed.

Its also a big incentive to sit and drink hot chocolate at the ski resort as you watch the patrol drag the injured down the hill. Most relaxing trip I've had in years.
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