Hi all. I stumbled on this site a few months ago and have been enjoying catching up ever since. I am 40 yrs. old and single. To date I think I have been a better saver than investor. I feel I have understood the basics of investing for some time (asset allocation, index funds, dangers of inflation, load vs. no load, dangers of advisors) but I guess as a result of inertia I have not been as effective as I should have been in implementing a reasonable strategy. Still have a decent amount of savings for my age but not what it could be if I had done what I know I should have done.
I have found the discussions on these boards to be very interesting and they have given me much food for thought. There are lot of smart people here and I am pleased to be able to gain insight from everyone on these threads. One thing that I think is really great about this board is how for the most part everyone respects each others version of "the dream". Folks with multi-million net worth's sincerely contribute to threads by people looking to retire on $25,000 a year and vice-versa...very cool.
The one thing that has my head spinning these days is the question of how long to work and what my target net worth and income should be. I am asking myself...why work 20 more years, have a non-cola pension, SS and assets that would likely provide multiple times the income that I will likely need (I live pretty modestly)?...so I can pay for a first class retirement home? (what fun is that). If I continue to work I will pay tons of additional taxes to a government that does not represent me and almost assure that I will be means tested out of SS benefits (I am sure that one way or another in 20 years the higher your income the lower your SS benefits will be).
I know that I am blessed to have been born and live in the U.S., however I am very concerned for its future. It is as if almost no one has a clue of our financial situation. The U.S. is broke (as in bankrupt) and no one wants to make the hard decisions and belt tightening that needs to be done. (I read a quote on this board...but can't find it...so if someone could link to it I would appreciate it...that said something to the effect that a country is in trouble when members of the society realize that they can live off the work and productivity of others instead of working themselves.)
Looking forward to being here on a regular basis.
Regards,
bd68
I have found the discussions on these boards to be very interesting and they have given me much food for thought. There are lot of smart people here and I am pleased to be able to gain insight from everyone on these threads. One thing that I think is really great about this board is how for the most part everyone respects each others version of "the dream". Folks with multi-million net worth's sincerely contribute to threads by people looking to retire on $25,000 a year and vice-versa...very cool.
The one thing that has my head spinning these days is the question of how long to work and what my target net worth and income should be. I am asking myself...why work 20 more years, have a non-cola pension, SS and assets that would likely provide multiple times the income that I will likely need (I live pretty modestly)?...so I can pay for a first class retirement home? (what fun is that). If I continue to work I will pay tons of additional taxes to a government that does not represent me and almost assure that I will be means tested out of SS benefits (I am sure that one way or another in 20 years the higher your income the lower your SS benefits will be).
I know that I am blessed to have been born and live in the U.S., however I am very concerned for its future. It is as if almost no one has a clue of our financial situation. The U.S. is broke (as in bankrupt) and no one wants to make the hard decisions and belt tightening that needs to be done. (I read a quote on this board...but can't find it...so if someone could link to it I would appreciate it...that said something to the effect that a country is in trouble when members of the society realize that they can live off the work and productivity of others instead of working themselves.)
Looking forward to being here on a regular basis.
Regards,
bd68