Happy I found this forum!

[FrugalTrader]

Just found this site today and boy am I happy I did. I'm am inspired by all the stories of early retirement.

I'm not in the position of retiring early (yet) as i've just graduated from university 3 years ago. My goal is to obtain a large networth at a young age so that I can have the "choice" to work or not. [edited by moderator - don't link us to ads, until you've hung around here for a while - I'd remove it from your signature as well] I'm hoping that some of you early retirees can give me some of your best tips and comment on my posts.

In the mean time I will keep reading the posts on this forum! Great job admin!

[donheff]

Welcome Frugal guy. I stopped by your blog. It will be interesting to watch how you do along the way and to see if you remain comfortable posting your financial details if/when you get rich

[FrugalTrader]

Quote:

Originally Posted by donheff Welcome Frugal guy. I stopped by your blog. It will be interesting to watch how you do along the way and to see if you remain comfortable posting your financial details if/when you get rich

Do you find that people stop posting about their networth once they into the millions? Perhaps a good idea. You know what they say, they cheer you on when you're on bottom, but try to tear you down once you're on top.

[MooreBonds]

Quote:

Originally Posted by FrugalTrader Do you find that people stop posting about their networth once they into the millions? Perhaps a good idea. You know what they say, they cheer you on when you're on bottom, but try to tear you down once you're on top.

That, and I already get enough spam from generic e-mailers.....add in potential internet thieves that would try harder if they could glean a few personal details from someone that claimed to have a multi-million dollar net worth (versus a NW of $10,000), and there's a disincentive to divulge more as your estate grows. Plus, you'll probably find yourself having less time to post to forums like this as you have to find a way to spend all of that money.

[FrugalTrader]

Quote:

Originally Posted by MooreBonds That, and I already get enough spam from generic e-mailers.....add in potential internet thieves that would try harder if they could glean a few personal details from someone that claimed to have a multi-million dollar net worth (versus a NW of $10,000), and there's a disincentive to divulge more as your estate grows. Plus, you'll probably find yourself having less time to post to forums like this as you have to find a way to spend all of that money.

Point taken! Thanks!

[macdaddy]

Welcome FrugalTrader... you should find quite a few like minded individuals on this board! It will be nice to have some more young dreamers around.

[FrugalTrader]

Quote:

Originally Posted by macdaddy Welcome FrugalTrader... you should find quite a few like minded individuals on this board! It will be nice to have some more young dreamers around.

Has there ever been a poll on this site for the avg age of early retirement? Or the age that they seriously started to plan for it?

Thanks.

[mickeyd]

Quote:

w personal details from someone that claimed to have a multi-million dollar net worth

I'll bet we'd all be surprised if we knew the real net worth of each poster here.

Or, maybe not.

As has been mentioned here before, being a millionaire in the 21st Century is really no big deal.

[REWahoo]

Quote:

Originally Posted by mickeyd As has been mentioned here before, being a millionaire in the 21st Century is really no big deal.

Unless you aren't one.

[LeatherneckPA]

Quote:

Originally Posted by REWahoo! Unless you aren't one.

Ain't THAT the truth!! Resigned to the fact that I will NEVER be one of them.

"Iron" Mike

[crazy connie]

Quote:

Originally Posted by retiredbop Ain't THAT the truth!! Resigned to the fact that I will NEVER be one of them. "Iron" Mike

Ahhhhhhhhhhh Mike,
Aren't you getting ready to pull the plug with a COLA adjusted pension? If so, then you are a millionare who's brokerage statement/net worth total just does not show the asset.

COLA pension has a lot less volatility than a stock portfolio. Lottsa folks start wailing when the markets burp.

[LeatherneckPA]

Hmmmmm, never thought of it that way. I guess you could say my $40k pension would be equivalent to the 4% from a cool mill. Of course, the new Fed retirement loses one point to inflation each year. It's actually COL - 1% = raise.

Still, not as bad off as I thought. Thanks for different outlook.

[crazy connie]

Anytime. We just need to look at all of our assets and that is a great one to have! This board is full of folks who can look and help you see thu up or downside. Glad it is an upside this time for you!

While a good pension is not something to leave to the kids it is a certain standard that provides well for you.

[dumpster56]

Quote:

Originally Posted by retiredbop Hmmmmm, never thought of it that way. I guess you could say my $40k pension would be equivalent to the 4% from a cool mill. Of course, the new Fed retirement loses one point to inflation each year. It's actually COL - 1% = raise. Still, not as bad off as I thought. Thanks for different outlook.

I just Erd today with a 33K pension at 50Years of age. Cola and health bennies. So yes we are over 40K so yep its a million. However I am gonna live until I am at least 100 so 40K X 50 years is 2 mil Right?

[crazy connie]

Not old math, not new math. Real math for pensions!

[kcowan]

Quote:

Originally Posted by newguy888 I just Erd today with a 33K pension at 50Years of age. Cola and health bennies. So yes we are over 40K so yep its a million. However I am gonna live until I am at least 100 so 40K X 50 years is 2 mil Right?

Reminds me of the successful merchant who charged 1% uplift. When asked how he could survive, he said he bought the items for $1 and added his 1% or $1!

You need to run Firecalc so you fully enjoy your fabulous retirement. Your math only works if you keep your money in a sock.

[mickeyd]

This may help in figuring out what your pension is worth in today's dollars.

http://www.immediateannuities.com/