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James Altucher's Retirement Guide: Why You "Only" Need $2 Million
- Thread starter Clubber Lang
- Start date
Quote from retaildaytrader:
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.
Sorry but it is you that does NOT know the definition of average. What you describe above is the median. And that differs from the median.
Wrong, 50% have not died at age 78. To get the average you sum all the data points (age of death) in the sample size and divide by "n" (the sample size).
Quote from Scataphagos:
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?
On the flip side, is it fair for the gov't to take everything you have left, worked for all your life because the gov't figures you don't need it anymore?
His calculations must be taking into effect the 100 dollar loaf of bread and 15 dollar a gallon gasoline. Post hyperinflaiton scenario.
Ones expected lifespan increases every moment one is alive until one is dead as it always has a positive value.
Altuchers scheme sounds like yet one more bailout for the usury economy.
Talk to your grandparents they never used credit for anything.
The capital gains on housing and all else that is paid for with credit has been manufactured by the leveraging up of the entire economy, which is not sustainable and breaks for the same reason any pyramid scheme does.
Altuchers scheme sounds like yet one more bailout for the usury economy.
Talk to your grandparents they never used credit for anything.
The capital gains on housing and all else that is paid for with credit has been manufactured by the leveraging up of the entire economy, which is not sustainable and breaks for the same reason any pyramid scheme does.
Quote from DHOHHI:
Sorry but it is you that does NOT know the definition of average. What you describe above is the median. And that differs from the median.
Wrong, 50% have not died at age 78. To get the average you sum all the data points (age of death) in the sample size and divide by "n" (the sample size).
I know the difference between average and median. I did graduate from high school. The numbers that I have stated have been reported as the "average" by the Center of Disease Control.
Quote from TulsaTrader:
In 1970 the average price of a car was around $3900. Today it's around $30,000.
So based on this, in 40 years we can roughly expect a car to cost $300,000?
Better hope our retirement savings and investments keep up with inflation.
This is an old thread but more relevant than ever. With debt and spending not going to be controlled, it would leave a very high likelihood of runaway inflation.
In today's numbers i have plenty put away, but it might not be nearly enough after massive inflation hits.
What's the answer? Gold, buying apartments or buying a 7 / 11 franchise and hiring someone to manage it?
That's a common misconception. The average car of today is 10x better than the average car of the 70s. Hence the bigger pricetag.Quote from TulsaTrader:
In 1970 the average price of a car was around $3900. Today it's around $30,000.
So based on this, in 40 years we can roughly expect a car to cost $300,000?
You can buy a piece of shit car from China today for $5000 that is technically as good (or better) as your 1970s average car.
See http://en.wikipedia.org/wiki/Hedonic_regression
Quote from DHOHHI:
I guess Altucher never read The Millionaire Next Door.
His numbers are so far off base it is humorous. Housing costs for example. Uhh, what happens if you have no mortgage. And so on. Every number can be ripped to shreds.
That's perhaps the worst financial book ever written --- not to mention the most dangerous.
What a load of crap.
Altucher is 100% correct.
surf