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

But there is this security blanket thing about working that I cannot seem to kick
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Same here.

But when the snow is falling in the morning and you don't have to go out in it.....

OR

I think back to all the lunches I ate while I worked,,,, oh ah pay back time, I have some good leisurely lunches..

Oh yea, almost forgot to mention, I'm just about as busy now as when I was working, different things, still making money.

I think if you've always love work, you find your way back to working. Hard to explain, you either live it and know it or ya don't.
 
Less than 5% of U.S. households are millionaires when you only consider liquid assets (excludes real estate)

If you are debt free, live in middle America, and share the most common trait of millionaires (frugality) a million dollars should do the trick.

Edit: I should add the above is for a single person who also draws Social Security.
 
Quote from retaildaytrader:

Thats right Clubber Lang! You have old age to look forward to that brings you such things as stroke, heart attack, diabetes, hair loss and maybe even death.

Find 10 70 year olds on the street. Ask them what their lifestyle is. They are just doing whatever they can to preserve and lengthen whatever life they have left. They dont care about driving in a BMW because that time for them has past. They will just be happy to be alive. Unfortunately, all that food and liquor wont make them live longer.


Don't forget about divorce. Better stash some cash where the lawyers can't find it, just in case. Although it would be better to work the old lady like a dog so she won't have as much time to plot your demise.
 
Where in all this learned budget planning is funding for the geriatric equivalent of the motto from our youth of "You never outgrow your need for milk?" If you are taking your little blue pills four times a day from the Pez dispenser, "You never outgrow your need for pussy!"
 
Between your normal nonsense and this lastest post I'm going to guess you're maybe 20 at most. It would be hard to believe anyone older could be so niave.

My dad is 68 going on 69 in a month. Plays golf 4-6 times a week and often times plays 27-36 holes. Flys his airplane a few times a week and once a month flys half way across the country to do mock dogfighting with his group of airplane buddies...they're all between 55-80. Yes, 80 year old men flying mutli million dollar planes shooting at each other.

When disasters strike, hurricanes, earthquakes, etc., him and his friends will fly half way across the world to build houses and shit for people. For fun they do stuff like cliff diving, scuba diving. He's also remodeling his house all by himself and restoring a 1969 z-28 camaro.

Oh, and just for fun, about a week ago he came to watch his grandson race motocross. After the races he asked for some simple directions on how the bike worked and anything special he needed to know and then went out on a motocross track doing wheelies and trying to jump doubles. You couldn't do that I bet.

You have a lot to learn. Fortunately, health permitting, you have decades in which to figure how things work in life.

btw, did you know your parents still fuck? It's true.


Quote from retaildaytrader:

Here is some things to think about.

- When you are 70 years old, do you really want a large house? Will your kids still be living with you? The answers are no and no. You could probably do best with a small 1 or 2 bedroom apartment which would not cost 3000 a month. Also, do you really want to live in a place like New York City or would you rather live in a more humble quieter place in Florida or Texas?

- How many trips and vacations are you going to have energy to go on at age 70? Its not like you are going to be doing keg stands or scaling the side of a mountain. You will probably take quieter and more kick back vacations that require a lot less capital. You wont be jumping on long plane flights either. You will probably take the Amtrak somewhere as your health will probably prevent other travel.

- How much food are you going to be eating at age 70 considering all the health issues? Will you really be at Ruth Chris eating that fatty steak and contributing to the probability of a future stroke or further aggravating your diabetes? More likely you will be drinking an instant cup of coffee in the morning with two packs of Splenda and nibbling on a bagel. In afternoon or evening, a small meal of sauceless spaghetti. Otherwise, you aggravate your health and get that much closer to death.

- Will your senses be sharp enough to handle a large SUV or 400 horsepower monster car? More then likely the Toyota Corolla will be your transportation or even the local bus. You dont see many 70+ year olds driving big suburbans not because they cant afford it, but because they dont have the ability to drive it. Most older folks go with smaller and easier to handle cars nowadays and plus they dont really care what they are seen in as long as it gets from point a to point b.


So there are a lot of things to consider, but believe me. At age 70, you will not need all that cash to live. In fact, your lifestyle will be exactly what it was when you lived in college but without the liquor and greasy food. You will enjoy living with a roommate in a 2 bedroom apartment as it gets lonely at that age and you wont want to be climbing on the roof or doing chores that go with home ownership. You also wont be taking curbs at 100 mph in a BMW, but simply enjoy going from point a to point b.
 
Mike, Your dad does not represent everyone. One of my relatives died at the age of 67 while another died at the age of 72. Actually, I have countless stories of people I know dieing of various causes from age 20 all the way up to age 90. 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. When you reach 78, if you reach 78, at least 50% of the people you graduated high school with have passed on.

You can do all the pushups, situps, hikes and jump out of whatever planes you like each month. You can have all the enthusiasm you like and tell heroic stories of wonder and passion. The fact is at your age of retirement you will not have the same energy as when you were in your 30s-40s. By the time you hit your 70s, then its likely 50% of your high school class has passed on.

For every guy you know that is playing golf at age 68, I can present to you one that is not in very good health. My own father was diagnosed with emphysema at age 68. A few years after that, he passed away after a battle which placed him sitting in a chair for about two years with an oxygen mask.

What you wrote is garbage because I have experienced it personally with my family, friends and even people I dont know. This guy who worked at a shop in town one day had a stroke at age 65 and passed on. Go ahead, do your long runs, your pushups, but life does not last forever and you should have that attitude every day you wake up. Certainly, wining and dining at luxury restaurants at age 70 while going through diabetes is not going to do you any good.

I used to dine out all the time, but only cook what I make. I eat a light breakfast consisting of coffee and two packs of splenda. I avoid bagels because the sugar messes with my diabetes. Actually, there is a very limited diet that I can eat. It doesnt bother me because its all in the name of life extension. I get up and do as much walking as I can in the morning, but I do get tired. Let me tell you something, diabetes is not something that you can avoid. It will just come one day. Some get it early, while others get it late. It just happens.

At this point in my life, I dont really care about BMWs or even cash. Luxury homes, bah! I just care about waking up and Im still there.

Quote from Mike Morrison:

Between your normal nonsense and this lastest post I'm going to guess you're maybe 20 at most. It would be hard to believe anyone older could be so niave.

My dad is 68 going on 69 in a month. Plays golf 4-6 times a week and often times plays 27-36 holes. Flys his airplane a few times a week and once a month flys half way across the country to do mock dogfighting with his group of airplane buddies...they're all between 55-80. Yes, 80 year old men flying mutli million dollar planes shooting at each other.

When disasters strike, hurricanes, earthquakes, etc., him and his friends will fly half way across the world to build houses and shit for people. For fun they do stuff like cliff diving, scuba diving. He's also remodeling his house all by himself and restoring a 1969 z-28 camaro.

Oh, and just for fun, about a week ago he came to watch his grandson race motocross. After the races he asked for some simple directions on how the bike worked and anything special he needed to know and then went out on a motocross track doing wheelies and trying to jump doubles. You couldn't do that I bet.

You have a lot to learn. Fortunately, health permitting, you have decades in which to figure how things work in life.

btw, did you know your parents still fuck? It's true.
 
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....

Prolonging life - modern medicine does not do the trick :(

doing it successfully is art of life.

looks like buddhist are the most advanced in this area, and copypaste lives of successfull ones.
 
Quote from retaildaytrader:

Let me tell you something, diabetes is not something that you can avoid. It will just come one day. Some get it early, while others get it late. It just happens.

Absolute nonsense. Try a raw vegan diet with fresh green juices, get rid of that toxic Splenda and see what happens. Doctors are part of a broken paradigm.

Google:
Gary Null
Gabriel Cousins
Jack Lalanne
Jay Kordich
Lou Corona
...and many more

Open your mind and you'll find a solution. Stick to the status quo and you'll check out at 72.
 
Quote from Clubber Lang:

http://finance.yahoo.com/tech-ticke...irement-Guide:-Why-You-"Only"-Need-$2-Million

"How much money do you need to retire?

James Altucher, founder of Formula Capital, sets “the number” at $4 million.

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.



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Eagerly awaiting ET's thoughts on this article.

:)

$3,000 per month for food? Only if you want your ass to look like this...




fat-guy-in-chair-thumb.jpg
 
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