James Altucher's Retirement Guide: Why You "Only" Need $2 Million

[trendo]

Quote from retaildaytrader:

If you understand the definition of "average" then you know that when the average age is 78, then half die above that age and half die below.

I'm no math whiz, but in your example, 78 would be the median and not necessarily the average.

 

[macroman]

Quote from psytrade:

Macroman, any relation to the macro man feed (I assume hes a UK based US born trader...)

http://macro-man.blogspot.com/2010/...&utm_medium=feed&utm_campaign=Feed:+MacroMan+(Macro+Man)

nope. just coincidence. His style looks more information intense, different to mine. I only play major masses shifts&fundamentals, that are easy to spot (not too much details required). Although I was good at it from day 1, it required full circle of trader education to get there. To me it was most important to learn what is NOT important in trading & how to integrate trading & life.

 

[Chuck Krug]

Quote from nutmeg:

All I need is my thermos.

loved that film

 

[CaptainObvious]

You don't need 2 million. You don't need 1 million. What you need is to be debt free. That's it, unless you have yet to control your ego and still need lot's of "things" to fill the hole in your life. Hopefully by age 65-70 you can have that ego in check.

 

[Visaria]

You guys are going to need $100 million to retire on because your dollar will be near worthless within 10 years. Bernanke and Geithner are determined to make this happen

Don't worry, I'm going to need £100 million myself. Mervyn King is going to make this happen for me

 

[Visaria]

Here they are plotting the demise of the dollar:

 

[nutmeg]

Quote from macroman:

you die (at least inside) after you lived thru all your desires. make sure you dont run of desires, else will lose desire to live....

When regrets replace dreams. You're screwed.

 

[Pekelo]

Quote from CaptainObvious:

. What you need is to be debt free.

What is better, to die with 5 million in the bank or 5 millions in debt?

 

[nonlinear5]

Quote from Clubber Lang:

Here’s his equation:

$3000 a month for rent (he doesn’t recommend owning a home)
$2000 for utilities, car payment
$3000 a month for food
$5000 a month for fun
$4000 a month for vacations
That’s a grand total of $17,000 per month or $204,000 per year.

No medical expenses in retirement?

 

[Scataphagos]

Quote from Pekelo:

What is better, to die with 5 million in the bank or 5 millions in debt?

Well, if you die $5Million in debt, you likely got that way intentionally. Is that fair to those you owe? Is it OK to "screw the lender", or "screw the system", or "screw The Man"? Is that you?

No, I don't believe it's better to die in debt. (Perhaps we should have laws which require heirs to pay our debts... and if they can't or won't, go to debtor prison in our stead. Would certainly alter behavior for most.)