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  3. Can anyone explain why cant you retire once you reach $1M before 50?

User Info: yohabroha

yohabroha
3 weeks ago#31
djwagon posted...
lostkiwi posted...
djwagon posted...
missing the whole point here .no matter where the money comes from you have to pay taxes on it in your state and the irs. you can spin this any way you want . but any money you make and take out is going right to the tax man and your state governemnet before you see any money .plus it boost you into another tax bracket
Your point has absolutely no relevance to the point I was making. I am not sure why you are even quoting me since it's nothing but conjecture against my posts.

I was not advocating or opinionated about the method of investment. Even if you could invest the money 100% tax free, and with no capital gains tax what-so-ever, $1M still would not be enough to retire at the age of 50.


lol hate to burst you balloon pal i knew more about this crap then you do . i semi-retired at 48 in 2006 to take care of my father. i fully retired in 2017 .when he died in his sleep at the age of 97.i have 4 year left before i can collect my retirement money from my family business . i live off my stocks/bonds and tax free ibonds/trust funds.as well as my personal income.so do me a favor learn to respect your elders .when they tell you things you may not knew

any money you take out does three things your state gert a cut .then the irs. there is no free money

You keep trying to dispute a point he isn't making though. I don't know why you keep responding to him in this way, you're both correct but you are bringing up points he isn't even arguing against. If anything, you're supporting his point further. Also learn proper grammar.
"Only idiots play games at ultra settings" - Fade2black001, 2018

User Info: djwagon

djwagon
3 weeks ago#32
yohabroha posted...
djwagon posted...
lostkiwi posted...
djwagon posted...
missing the whole point here .no matter where the money comes from you have to pay taxes on it in your state and the irs. you can spin this any way you want . but any money you make and take out is going right to the tax man and your state governemnet before you see any money .plus it boost you into another tax bracket
Your point has absolutely no relevance to the point I was making. I am not sure why you are even quoting me since it's nothing but conjecture against my posts.

I was not advocating or opinionated about the method of investment. Even if you could invest the money 100% tax free, and with no capital gains tax what-so-ever, $1M still would not be enough to retire at the age of 50.


lol hate to burst you balloon pal i knew more about this crap then you do . i semi-retired at 48 in 2006 to take care of my father. i fully retired in 2017 .when he died in his sleep at the age of 97.i have 4 year left before i can collect my retirement money from my family business . i live off my stocks/bonds and tax free ibonds/trust funds.as well as my personal income.so do me a favor learn to respect your elders .when they tell you things you may not knew

any money you take out does three things your state get a cut .then the irs. there is no free money

You keep trying to dispute a point he isn't making though. I don't know why you keep responding to him in this way, you're both correct but you are bringing up points he isn't even arguing against. If anything, you're supporting his point further. Also learn proper grammar.

if my grammar was so bad .why you even reply

I am voicing my opinion here on how i see the subject .when i post .i will not be bullied into change it

User Info: Darkrobotisback

Darkrobotisback
3 weeks ago#33
You won't make it to $1 million if you always sustained a minimum wage job for 50+ years of your working life.
It's as simple as that.

If you wanna have the money to retire before the age you're supposed to retire (40-60 years old, depending on how lucky you are), you gotta have a career that pays decently.
Otherwise YOU WILL be worked to death on low wage jobs till the day you literally can't work anymore.
https://i.imgtc.ws/4euQ8JO.jpg https://i.imgtc.ws/mypUdRV.jpg
AQUI ESTOY JUNTO A MI TESORO... CONOCI AQUI MI TESORO!

User Info: yohabroha

yohabroha
3 weeks ago#34
djwagon posted...
yohabroha posted...
djwagon posted...
lostkiwi posted...
djwagon posted...
missing the whole point here .no matter where the money comes from you have to pay taxes on it in your state and the irs. you can spin this any way you want . but any money you make and take out is going right to the tax man and your state governemnet before you see any money .plus it boost you into another tax bracket
Your point has absolutely no relevance to the point I was making. I am not sure why you are even quoting me since it's nothing but conjecture against my posts.

I was not advocating or opinionated about the method of investment. Even if you could invest the money 100% tax free, and with no capital gains tax what-so-ever, $1M still would not be enough to retire at the age of 50.


lol hate to burst you balloon pal i knew more about this crap then you do . i semi-retired at 48 in 2006 to take care of my father. i fully retired in 2017 .when he died in his sleep at the age of 97.i have 4 year left before i can collect my retirement money from my family business . i live off my stocks/bonds and tax free ibonds/trust funds.as well as my personal income.so do me a favor learn to respect your elders .when they tell you things you may not knew

any money you take out does three things your state get a cut .then the irs. there is no free money

You keep trying to dispute a point he isn't making though. I don't know why you keep responding to him in this way, you're both correct but you are bringing up points he isn't even arguing against. If anything, you're supporting his point further. Also learn proper grammar.

if my grammar was so bad .why yoiu even reply

Why would bad grammar make someone not want to reply? If you're going to pull this cringe worthy "respect your elders" crap then it's well deserved to be called out on.
"Only idiots play games at ultra settings" - Fade2black001, 2018

User Info: lostkiwi

lostkiwi
3 weeks ago#35
djwagon posted...
lol hate to burst you balloon pal i knew more about this crap then you do . i semi-retired at 48 in 2006 to take care of my father. i fully retired in 2017 .when he died in his sleep at the age of 97.i have 4 year left before i can collect my retirement money from my family business . i live off my stocks/bonds and tax free ibonds/trust funds.as well as my personal income.so do me a favor learn to respect your elders .when they tell you things you may not knew

any money you take out does three things your state gert a cut .then the irs. there is no free money

hey expert . what will you do with oh lets say a million dollars given to you from a estate.

you have to pay a 45% death tax on that .if i remember it correctly.

oh that right . you have no clue about the taxes on any money . you think it free money
Just to iterate a point, similar to what yohabroha.

I don't know why you're trying to argue with me. You seem obsessed with pushing the agenda against me about tax free investments when it's not something I have given an opinion on what-so-ever. I am still at a loss why you even brought it up against me in the first place.

And if you believe that I have no financial insights then you are surely mistaken. My wife and I are currently onto our third property. We additionally have hundreds of thousands invested across a diverse range of portfolio's as part of a superannuation investments. We have also owned additional diverse stock portfolios that we since reinvested into property.

We are only in our 40's but we take a very active interest into how our future is shaping. I am a number cruncher, and I have a range of tools I myself have written to track how we will be doing for retirement. and how we will be shaping for a comfortable end of life living based on the cost of living of todays numbers projected forward with inflation taken into account.

It is also how I know that $1M isn't even close to being enough to retire at 50, which is the only point I came into make in this topic. One that you have either taken offense to, or misinterpreted, (although I have no idea why), and have attempted to derail me with an argument I never had an opinion on or interest in the first place, and after that failed have then attempted to strut around like a peacock attempting to sprout 'elder superior' knowledge of how investments work, again something I do not have an opinion or any interest about.

User Info: djwagon

djwagon
3 weeks ago#36
lostkiwi posted...
djwagon posted...
lol hate to burst you balloon pal i knew more about this crap then you do . i semi-retired at 48 in 2006 to take care of my father. i fully retired in 2017 .when he died in his sleep at the age of 97.i have 4 year left before i can collect my retirement money from my family business . i live off my stocks/bonds and tax free ibonds/trust funds.as well as my personal income.so do me a favor learn to respect your elders .when they tell you things you may not knew

any money you take out does three things your state gert a cut .then the irs. there is no free money

hey expert . what will you do with oh lets say a million dollars given to you from a estate.

you have to pay a 45% death tax on that .if i remember it correctly.

oh that right . you have no clue about the taxes on any money . you think it free money
Just to iterate a point, similar to what yohabroha.

I don't know why you're trying to argue with me. You seem obsessed with pushing the agenda against me about tax free investments when it's not something I have given an opinion on what-so-ever. I am still at a loss why you even brought it up against me in the first place.

And if you believe that I have no financial insights then you are surely mistaken. My wife and I are currently onto our third property. We additionally have hundreds of thousands invested across a diverse range of portfolio's as part of a superannuation investments. We have also owned additional diverse stock portfolios that we since reinvested into property.

We are only in our 40's but we take a very active interest into how our future is shaping. I am a number cruncher, and I have a range of tools I myself have written to track how we will be doing for retirement. and how we will be shaping for a comfortable end of life living based on the cost of living of todays numbers projected forward with inflation taken into account.

It is also how I know that $1M isn't even close to being enough to retire at 50, which is the only point I came into make in this topic. One that you have either taken offense to, or misinterpreted, (although I have no idea why), and have attempted to derail me with an argument I never had an opinion on or interest in the first place, and after that failed have then attempted to strut around like a peacock attempting to sprout 'elder superior' knowledge of how investments work, again something I do not have an opinion or any interest about.

who derailing who here . that what i love about this place .your always wrong .when every you post on here . you always have a expert on everything from wiping your back side to how you can not retire on a million dollars.

i said my peace .i done talking to expert tonight

I am voicing my opinion here on how i see the subject .when i post .i will not be bullied into change it

User Info: knuxnole

knuxnole
3 weeks ago#37
Most people retire at 65, then collect social security
3DS FC: 4554-0309-4782

User Info: DaDrkKnight

DaDrkKnight
3 weeks ago#38
HappyGuy posted...
You can retire whenever the hell you want to. If you have the money you can live a comfortable life and if you don’t you can live in a box.

Does the box have AC and a TV?
I'm going to hee-ho down your neck.
I'm kidding. Maybe.

User Info: lostkiwi

lostkiwi
3 weeks ago#39
djwagon posted...
who derailing who here . that what i love about this place .your always wrong .when every you post on here . you always have a expert on everything from wiping your back side to how you can not retire on a million dollars.

i said my peace .i done talking to expert tonight


..Says the guy who hasn't managed to make a single cohesive post about investments in this entire topic..

Goodbye, don't let the door hit you on the way out.

User Info: altblahblahblah

altblahblahblah
3 weeks ago#40
you can, easily, a million dollars is $20k a year for 50 years.

So long as your aren't looking to live an extravagant life thats more than enough.
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