Off-topic Talk Where overpaid, underworked S2000 owners waste the worst part of their days before the drive home. This forum is for general chit chat and discussions not covered by the other off-topic forums.

How to retire as a millionaire

Thread Tools
 
Old Jun 29, 2010 | 12:24 PM
  #1  
magician's Avatar
Thread Starter
Registered User
 
Joined: Jul 2001
Posts: 6,592
Likes: 0
From: Yorba Linda, CA
Default How to retire as a millionaire

Yahoo! has an article on How to Retire with One Million Dollars.

It seems to me that they're complicating the process unnecessarily. As I see it, there are only two steps to retiring with one million dollars:

1. Get one million dollars.

2. Retire.
Reply
Old Jun 29, 2010 | 12:29 PM
  #2  
The Gasman's Avatar
Former Moderator
 
Joined: Nov 2001
Posts: 59,195
Likes: 1
From: Ventura, California, USA
Default

Au contraire, must specify that it's one million dollars after taxes.
Reply
Old Jun 29, 2010 | 12:33 PM
  #3  
magician's Avatar
Thread Starter
Registered User
 
Joined: Jul 2001
Posts: 6,592
Likes: 0
From: Yorba Linda, CA
Default

Originally Posted by The Gasman,Jun 29 2010, 12:29 PM
Au contraire, must specify that it's one million dollars after taxes.
That's understood.

Try to keep up.

Reply
Old Jun 29, 2010 | 12:53 PM
  #4  
Sabre's Avatar
Community Organizer
20 Year Member
Photogenic
Photoriffic
 
Joined: Jan 2006
Posts: 7,961
Likes: 12
From: Oregon City, OR
Default

I thought the general rule to retire as a millionaire was to start with multi-millions....

Preferably through inheritance.
Reply
Old Jun 29, 2010 | 12:55 PM
  #5  
espelirS2K's Avatar
Registered User
 
Joined: Mar 2006
Posts: 17,670
Likes: 0
From: Bay Area
Default

My government teacher in highschool showed us one of these: how to become a millionaire slowly.

But it was only like $20/month starting at 18.
Reply
Old Jun 29, 2010 | 01:01 PM
  #6  
zzziippyyy's Avatar
20 Year Member
 
Joined: Mar 2005
Posts: 78,840
Likes: 7
From: On yo puter screen
Default

Originally Posted by espelirS2K,Jun 29 2010, 03:55 PM
My government teacher in highschool showed us one of these: how to become a millionaire slowly.

But it was only like $20/month starting at 18.
which by the way works just fine.

Reply
Old Jun 29, 2010 | 01:22 PM
  #7  
espelirS2K's Avatar
Registered User
 
Joined: Mar 2006
Posts: 17,670
Likes: 0
From: Bay Area
Default

can't... tell... if... serious...

Reply
Old Jun 29, 2010 | 02:12 PM
  #8  
clawhammer's Avatar
Registered User
 
Joined: Oct 2005
Posts: 25,683
Likes: 1
From: Houston, Texas
Default

One million dollars will NOT be enough for a 25-year old to retire on, assuming they want to live comfortably...
Reply
Old Jun 29, 2010 | 02:21 PM
  #9  
Penforhire's Avatar
Registered User
 
Joined: Apr 2001
Posts: 8,601
Likes: 1
From: La Habra
Default

Well, not at 3% average inflation over 45 years and if he doesn't want to live in the @ss end of America's backwoods.
Reply
Old Jun 29, 2010 | 02:23 PM
  #10  
S2020's Avatar
Member (Premium)
20 Year Member
Liked
Loved
 
Joined: Mar 2002
Posts: 112,963
Likes: 150
From: Doh!!
Default

Originally Posted by clawhammer,Jun 29 2010, 02:12 PM
One million dollars will NOT be enough for a 25-year old to retire on, assuming they want to live comfortably...
you mean 65? 25 is a bit young to be retiring.

may be enough if
1. social security is kicking in a couple thousands a month (assuming retiree contributed his whole working life)
2. he paid of his house.
3. he doesn't spend like crazy. "comfortably" varies depends on a person's definition.
Reply



All times are GMT -8. The time now is 05:23 PM.