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View Poll Results: High Income Poll
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less than $10K
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49 |
31.21% |
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$10K to $12.5K
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28 |
17.83% |
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$12.5K to $15K
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19 |
12.10% |
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$15K to $17.5K
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15 |
9.55% |
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$17.5K to $20K
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6 |
3.82% |
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$20K to $25K
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10 |
6.37% |
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$25K to $30K
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4 |
2.55% |
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$30K +
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26 |
16.56% |
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High Retirement Income Poll
03-30-2017, 07:11 AM
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#1
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gone traveling
Join Date: Dec 2016
Posts: 733
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High Retirement Income Poll
This group truly is exceptional. The most recent income poll had the OP wondering what the 30+% with $10K plus income might look like. So here we go.
You should consider all retirement income sources:
Pensions
SS
Rents
Dividends
Minimum Required distributions out of IRA's etc
Net Capital Gains (realized gains minus realized losses)
This should give a good picture of potential spending power, since it seems none of spend what we could.
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03-30-2017, 08:05 AM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Sep 2005
Location: Northern IL
Posts: 26,895
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03-30-2017, 08:08 AM
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#3
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,939
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Monthly or annual?
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03-30-2017, 08:53 AM
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#4
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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As a continuation from another concurrent poll that lumps all high monthly incomes together, this one gives a finer breakout as suggested by Danmar.
I have no doubt Danmar and a few others max out on this scale too. We should be glad no billionaires frequent this forum (or perhaps some do  ). You would have to do a poll using a logarithmic scale.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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03-30-2017, 08:54 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,393
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Looks like you are still too low? Why are you so interested?
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03-30-2017, 08:56 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2003
Location: Pasadena CA
Posts: 3,346
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 Quote:
Originally Posted by Car-Guy
Monthly or annual?
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Gotta be monthly, petty hard to live on $10K annually in the USand the title was 'high income' not tat mine is all that high $10-$12K but in a HCOL area.
__________________
T.S. Eliot:
Old men ought to be explorers
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03-30-2017, 09:01 AM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,939
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Quote:
Originally Posted by yakers
Gotta be monthly, petty hard to live on $10K annually
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That's what I suspected too, but I've learned not to "assume" anything on most of the polls on this forum. Lot's and lot's of variables and different circumstances that often surprise me.
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03-30-2017, 09:07 AM
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#8
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,939
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I had to take an annual average since my income varies so much month to month. Last year my worse month was -44k and my best was a little over 62k. But over a 12 month average it was just under 15k. The year before that was better (I think) but I used the most recent annualized data since I just finished my taxes and it's fresh on my mind.
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03-30-2017, 09:13 AM
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#9
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Thinks s/he gets paid by the post
Join Date: Oct 2015
Posts: 2,330
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Quote:
Originally Posted by Luck_Club
This group truly is exceptional. The most recent income poll had the OP wondering what the 30+% with $10K plus income might look like. So here we go.
You should consider all retirement income sources:
Pensions
SS
Rents
Dividends
Minimum Required distributions out of IRA's etc
Net Capital Gains (realized gains minus realized losses)
This should give a good picture of potential spending power, since it seems none of spend what we could.
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Can you clarify what you are polling? Thread title and your intro are confusing to me
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03-30-2017, 09:24 AM
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#10
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Thinks s/he gets paid by the post
Join Date: Sep 2016
Location: Acworth
Posts: 1,214
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Quote:
Originally Posted by euro
Can you clarify what you are polling? Thread title and your intro are confusing to me
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He's asking what categories the people who were in the max level from the poll in this thread are in
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03-30-2017, 09:30 AM
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#11
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Thinks s/he gets paid by the post
Join Date: Nov 2011
Posts: 3,904
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Does income mean spending as in the former poll?
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03-30-2017, 09:30 AM
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#12
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,265
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Quote:
Originally Posted by NW-Bound
We should be glad no billionaires frequent this forum (or perhaps some do ). You would have to do a poll using a logarithmic scale. |
This reminds me of a joke:
Nine blue collar workers are at a bar enjoying a few beers. Their average income is $50,000 a year. Bill Gates enters the bar and joins them. Their average income is now $500,000,000 a year.
__________________
Comparison is the thief of joy
The worst decisions are usually made in times of anger and impatience.
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03-30-2017, 09:42 AM
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#13
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Thinks s/he gets paid by the post
Join Date: Oct 2015
Posts: 2,330
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Quote:
Originally Posted by exnavynuke
He's asking what categories the people who were in the max level from the poll in this thread are in |
Aha - thanks!
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03-30-2017, 09:58 AM
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#14
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2008
Posts: 12,659
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Before or after taxes? Since we can only spend what the tax people leave us.
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Even a blind clock finds an acorn twice a day.
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03-30-2017, 10:13 AM
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#15
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2005
Location: Chicago
Posts: 13,186
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Quote:
Originally Posted by Luck_Club
This group truly is exceptional. The most recent income poll had the OP wondering what the 30+% with $10K plus income might look like. So here we go.
You should consider all retirement income sources:
Pensions
SS
Rents
Dividends
Minimum Required distributions out of IRA's etc
Net Capital Gains (realized gains minus realized losses)
This should give a good picture of potential spending power, since it seems none of spend what we could.
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Some of this makes no sense. For example, why would an RMD count as income of you're not going to count withdrawals from a taxable account?
Because this is a group that tends to focus on EARLY retirement, which is often financed by withdrawals from regular, taxable accounts, it seems out of whack to not count planned withdrawals from taxable accounts but to count RMD's.
Quote:
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This should give a good picture of potential spending power, since it seems none of spend what we could.
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What we're doing here is more of a tally of taxable income.
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
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03-30-2017, 10:25 AM
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#16
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Sep 2005
Location: Northern IL
Posts: 26,895
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Quote:
Originally Posted by youbet
Some of this makes no sense. For example, why would an RMD count as income of you're not going to count withdrawals from a taxable account? ....
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And some may take their RMD, and not spend all of it. After all, it is "required", but if SS, pension, plus other income sources cover your spending, do you really count all the RMD as "income"?
If a tree falls in the forest...
FWIW, seems the vast majority of polls done here really make no sense, at least to me.
-ERD50
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03-30-2017, 10:31 AM
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#17
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,099
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Quote:
Originally Posted by Amethyst
Before or after taxes? Since we can only spend what the tax people leave us.
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You don't spend money on taxes ??
I pay for taxes, ice-cream and groceries every year, it's all spending.
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03-30-2017, 10:39 AM
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#18
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gone traveling
Join Date: Dec 2016
Posts: 733
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Quote:
Originally Posted by euro
Can you clarify what you are polling? Thread title and your intro are confusing to me
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Total annual income/12 to come up with a monthly number. This was a follow on to another posters poll wanting finer resolution of the monthly income.
This poll kind of indicates potential spending.
The reason for Minimum Required Distributions is that is forced income.
I'm thinking pretax.
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03-30-2017, 12:01 PM
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#19
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Thinks s/he gets paid by the post
Join Date: Feb 2013
Location: Toronto
Posts: 3,321
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Yes I find it a difficult one to figure out. The reason the retirement income is so high and increasing is that a substantial portion of it doesn't get spent (and hence isn't really realized as income). Similar to the reason it is there in the first place - high savings rate during working years. Is the question asking what is the total increase in net worth from all sources over the year (then divided by 12) or is it referring to 'realized' income.
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03-30-2017, 12:06 PM
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#20
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Thinks s/he gets paid by the post
Join Date: Jul 2012
Location: Texas
Posts: 3,024
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Quote:
Originally Posted by Luck_Club
...This should give a good picture of potential spending power...
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Perhaps a better measure of potential spending power would be one's spending level indicated by FIRECalc at 95% success rate. This solves most of the definitional and timing issues associated with "income." Of course that begs the follow-on question as to whether or not we are actually spending at that level or something lower, or higher, and why. Maybe I'll start my own poll one day.
__________________
Retired at 52 in July 2013. On to better things...
AA: 85/15 WR: 2.7% SI: 2 pensions, SS later
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