Dave Ramsey fans read this

[Mudslinger]

depends on who you are

No answers then? Who has that in their retirement of looking at over 1 million in retirement. Don't dodge the ? Yes lot's of variables, but who is looking at this type of money for retirement right now?

Lot of stuff I am reading is if you have this and are not deeply in debt then this is what you want. I do not follow all the so called experts, just wondering.

I see a lot of advice for, "if you have $500,000 right now in retirement, then you need to do this"!

[TxAg]

No answers then? Who has that in their retirement of looking at over 1 million in retirement. Don't dodge the ? Yes lot's of variables, but who is looking at this type of money for retirement right now?

Lot of stuff I am reading is if you have this and are not deeply in debt then this is what you want. I do not follow all the so called experts, just wondering.

I see a lot of advice for, "if you have $500,000 right now in retirement, then you need to do this"!

Google the 4% safe withdrawal rule of thumb

Couple that with social security at your age and you will likely be good to great as long as you have health insurance

[Cantcatch5]

It depends on your lifestyle and spending - some people can live on very little and others need more - everybody is different

You are right l, it absolutely does depend on lifestyle but I just can't see being able to retire on $1 mil. It depends greatly on 1)how long I will live, 2)how long my wife will live, 3) our future health, 4) future market volatility, and 5) how much money we have at retirement... I will only know for certain #5 when we decide to retire. I will adjust for #4 as we get closer by investing in lower yielding safer investments but can't totally prepare for inflation and big changes in the economy.

It is scary stuff to me! I read that the AVERAGE American will spend $260,000 on healthcare during their retirement...that is crazy!

[Cantcatch5]

...I just realized something TKK. I was typing faster than I was thinking. I was thinking of my wife and I together. $1,000,000 each that would be closer to what I THINK we will have to have. Not quite enough but getting closer.

[jerp]

As an investment advisor for 30 years I talk to people about this every day. One of the saddest things about my job is when I have people come in who are within 5-10 years of retirement and finally decide to do some planning. They have had a 6 figure income for decades and have lived well, but when we run the numbers in the planning software, including social security, pension, 401k - whatever they have - it looks very bleak. I see an awakening and a lot of regret. Look at it this way - if you start saving when you are 30 you have to save enough in 30 years to live another 25+ years in retirement. When you adjust for inflation that is a huge number. For example at an inflation rate of only 2.5% to get a $75k annual income in today's dollars = $157k 30 years from now.

[Capt.Brown]

depends on who you are

I just disagree completely, his principles are just that principles , doesn't matter who you are or what you do, just follow the principles.

[rut-ro]

It is scary stuff to me! I read that the AVERAGE American will spend $260,000 on healthcare during their retirement...that is crazy!

This is the crazy part for most. I am able to retire with full benefits. The whole money thing is scary to think about. But, I feel I'm on the way there. I need to look into the rich dad poor dad.

[Buckley99]

I don’t have an issue with Ramsey or his teachings (for the most part)That’s said, I’m a bigger fan of Rich Dad Poor Dad, The Millionaire Next Door, Smart Couples Finish Rich, & Think and Grow Rich.

[dustoffer]

My philosophy is never live for today until you take care of tomorrow---

[TKK]

I just disagree completely, his principles are just that principles , doesn't matter who you are or what you do, just follow the principles.

So how have so many people used debt to become wealthy? One shoe does not fit all

[TKK]

No answers then? Who has that in their retirement of looking at over 1 million in retirement. Don't dodge the ? Yes lot's of variables, but who is looking at this type of money for retirement right now?

Lot of stuff I am reading is if you have this and are not deeply in debt then this is what you want. I do not follow all the so called experts, just wondering.

I see a lot of advice for, "if you have $500,000 right now in retirement, then you need to do this"!

sorry but read your post several times and it makes no sense

[jed1226]

Dave Ramsey works for people who haven't figured out that debt is bad when it goes towards things that depreciate instead of appreciate.
I think he serves a good, but there are better systems to getting wealthy. Just have to be smart and figure out what leverage is.


Sent from my iPhone using Tapatalk

[tdwinklr]

I agree with what most of Dave says although his method of getting there may be a little different than mine. I believe if you start early enough, you can generally live your entire life debt-free.
Just wish I could go back and do a few things differently.

[TKK]

It depends on your lifestyle and spending - some people can live on very little and others need more - everybody is different

This article covers what I was saying here - there is no "one number" everyone needs to have a comfortable retirement. It varies greatly from one person to the next depending on multiple factors.

https://finance.yahoo.com/news/estimate-retirement-expenses-163408441.html

[systemnt]

I think you need to live as you're never promised tomorrow.
But live within your means to survive comfortably tomorrow and the next etc.

Communist.