Hogville Info
• 9,169,283 Posts
• 379,414 Topics
• 21,113 Hogvillians
THE RULES (Read 'em!)
Quick Links
Pick'Ems:Football      Basketball      Baseball
Sister Sites:Gridiron HistoryFearless Friday
Listen NOW:Game ON 103.3 
  
Pages: 1 [2]   Go Down

Author Topic: Lifetime Income Store ?  (Read 838 times)

0 Members and 1 Guest are viewing this topic.

golf2day

  • Hogvillian
  • ******
  • Offline Offline
  • Gender: Male
  • Posts: 1,711
  • specializing in gas mask bong design since 2014
Re: Lifetime Income Store ?
« Reply #50 on: April 19, 2017, 08:30:30 pm »


Just know that my question and reason for the thread was legitimate, I had been told about that meeting and I can't be wasting my time with nonsense.

You guys have answered my questions in the past so I brought this up here,
I have no connection to this company at all, and don't plan to.
Wasn't coming after you at all. You did some due diligence, which puts you ahead of the majority of people!
Logged

PorkSoda

  • Gold Hogvillian
  • *********
  • Online Online
  • Gender: Male
  • Posts: 39,829
  • O_o
    • It's a Jeep thing...
Re: Lifetime Income Store ?
« Reply #51 on: April 19, 2017, 09:12:19 pm »

it is kind of funny,

Its the same when the 401k people come by and talk about how much money for retirement you will have then calculate out a 10% return every year for 40 years.

that just isn't reality that I have ever seen, not to mention that once you account for inflation and fees it better be returning 6-8% a year just to break even.

I agree its important to invest for retirement, but don't believe the hype.
Logged

Sponsored Ad



Hogville encourages you to do business with the following...

HiggiePiggy

  • Hall of Fame Hogvillian
  • *******
  • Online Online
  • Gender: Male
  • Posts: 10,801
  • Hope...
Re: Lifetime Income Store ?
« Reply #52 on: April 21, 2017, 06:31:06 pm »

it is kind of funny,

Its the same when the 401k people come by and talk about how much money for retirement you will have then calculate out a 10% return every year for 40 years.

that just isn't reality that I have ever seen, not to mention that once you account for inflation and fees it better be returning 6-8% a year just to break even.

I agree its important to invest for retirement, but don't believe the hype.

Yeah. It was funny listening to the person talking to me about 401k. I pretty much take what he said and cut it in half and that will probably be closer to correct. I am doing 10% on 401k until I get bills paid off then I will go up to 25% plus I am also putting 50 a week into stock for myself to play with every week. 
Logged

golf2day

  • Hogvillian
  • ******
  • Offline Offline
  • Gender: Male
  • Posts: 1,711
  • specializing in gas mask bong design since 2014
Re: Lifetime Income Store ?
« Reply #53 on: April 21, 2017, 06:42:57 pm »

Yeah. It was funny listening to the person talking to me about 401k. I pretty much take what he said and cut it in half and that will probably be closer to correct. I am doing 10% on 401k until I get bills paid off then I will go up to 25% plus I am also putting 50 a week into stock for myself to play with every week.
Be aware that the max contribution is 18k/yr unless you're over 50 (then it's 24k). Don't know how much cheddar you make, but I had to mention it.
Logged

HiggiePiggy

  • Hall of Fame Hogvillian
  • *******
  • Online Online
  • Gender: Male
  • Posts: 10,801
  • Hope...
Re: Lifetime Income Store ?
« Reply #54 on: April 22, 2017, 11:18:05 am »

Be aware that the max contribution is 18k/yr unless you're over 50 (then it's 24k). Don't know how much cheddar you make, but I had to mention it.

Yeah I know that.  I won't hit that. I work in factory.  I am lucky to make 45k a year.
Logged

Vantage 8 dude

  • Hall of Fame Hogvillian
  • *******
  • Online Online
  • Posts: 9,811
  • Surfing the web at Hogville.net
Re: Lifetime Income Store ?
« Reply #55 on: April 22, 2017, 11:36:58 am »

Yeah I know that.  I won't hit that. I work in factory.  I am lucky to make 45k a year.
The real important point is that you save whatever you can. I once had a client who never made more than $50,000 a year. However, he was extremely diligent and "paid himself first" by saving money automatically from his pay check . He told me that while at times it was tough, especially when he was tempted to buy the latest "gadget", he figured that if he never saw the money he would never really miss it. Interestingly enough over time and with good investment sense (from his advisor of course  ;)) he was able to accumulate over $1.5 million at retirement. Not bad for an "every day joe" who just went to work, saved for the future, and relied on a sound investment portfolio to help him once he decided to call it quits.
Logged

HiggiePiggy

  • Hall of Fame Hogvillian
  • *******
  • Online Online
  • Gender: Male
  • Posts: 10,801
  • Hope...
Re: Lifetime Income Store ?
« Reply #56 on: April 22, 2017, 05:38:34 pm »

That is what I am hoping to do. I may never hit 50k a year. If I do it won't be very much over it, but I am 36 and hope to have both houses paid off by 44 while continuing to put 10% into my 401k and 50 a week into My robinhood account. I should have about 15 to 20 years where I have no bills if things keep going the way they are.
Logged

Vantage 8 dude

  • Hall of Fame Hogvillian
  • *******
  • Online Online
  • Posts: 9,811
  • Surfing the web at Hogville.net
Re: Lifetime Income Store ?
« Reply #57 on: April 22, 2017, 09:42:10 pm »

That is what I am hoping to do. I may never hit 50k a year. If I do it won't be very much over it, but I am 36 and hope to have both houses paid off by 44 while continuing to put 10% into my 401k and 50 a week into My robinhood account. I should have about 15 to 20 years where I have no bills if things keep going the way they are.
Good for you! Keep up the good work. I agree that if possible pay off the home(s) when you can. While I realize that a lot of folks may not necessarily agree, primarily due to mortgage interest write off, having your home paid off and not owning the bank (or whomever) and not using monies for interest payments can put you in a great position.

One last thing when it comes to investing: Plan your work and work your plan.
Logged

woodrow hog call

  • Hogvillian
  • ******
  • Online Online
  • Gender: Male
  • Posts: 2,000
Re: Lifetime Income Store ?
« Reply #58 on: May 11, 2017, 10:47:44 am »

My problem is not having patience, I'm contributing to my 401K, (Fidelity) which is doing pretty good I guess?
Beginning Balance as of 01/01/2017 $7,946.23
Employee Contributions $1,384.62
Exchange In $8,279.38
Exchange Out -$8,279.38
Fees -$5.09
Change in Market Value $877.32
Current Balance as of 05/10/2017 $10,203.08
Vested $10,203.08
Personal Rate of Return from 01/01/2017 to 05/10/2017. 10.46%

Then I have an IRA that has a much higher balance but, it's doing 5.87% YTD. I have a hard time not rolling the IRA over to the 401K because of ytd earnings, but I'm not sure if that's enough time for a good indicator.

Logged

HawgWild

  • All-American Hogvillian
  • *******
  • Offline Offline
  • Gender: Male
  • Posts: 4,366
  • Life is good
Re: Lifetime Income Store ?
« Reply #59 on: May 11, 2017, 12:12:41 pm »

Woodrow, not sure what your age is but I do know you can't go back in time and make those balances bigger. Respect the power of compounding. Patience is a virtue, don't try to hit a home run. You've not yet experienced a market downturn; it's going to happen. I'm guessing you'll be fine if you continue to contribute at current levels and more as your situation permits.
Logged

woodrow hog call

  • Hogvillian
  • ******
  • Online Online
  • Gender: Male
  • Posts: 2,000
Re: Lifetime Income Store ?
« Reply #60 on: May 11, 2017, 02:21:47 pm »

Yeah I have ten years before I can think about retirement, if the good Lord continues to bless me with the health, that is.

I need to raise my contribution to 10%, and forget about it I guess.
Logged

HawgWild

  • All-American Hogvillian
  • *******
  • Offline Offline
  • Gender: Male
  • Posts: 4,366
  • Life is good
Re: Lifetime Income Store ?
« Reply #61 on: May 11, 2017, 03:40:48 pm »

Definitely take full advantage of your employer's plan. And, if you have money left, do the Roth IRA.
Logged

Vantage 8 dude

  • Hall of Fame Hogvillian
  • *******
  • Online Online
  • Posts: 9,811
  • Surfing the web at Hogville.net
Re: Lifetime Income Store ?
« Reply #62 on: May 11, 2017, 04:42:45 pm »

My problem is not having patience, I'm contributing to my 401K, (Fidelity) which is doing pretty good I guess?
Beginning Balance as of 01/01/2017 $7,946.23
Employee Contributions $1,384.62
Exchange In $8,279.38
Exchange Out -$8,279.38
Fees -$5.09
Change in Market Value $877.32
Current Balance as of 05/10/2017 $10,203.08
Vested $10,203.08
Personal Rate of Return from 01/01/2017 to 05/10/2017. 10.46%

Then I have an IRA that has a much higher balance but, it's doing 5.87% YTD. I have a hard time not rolling the IRA over to the 401K because of ytd earnings, but I'm not sure if that's enough time for a good indicator.
Well for just think of it this way (if you haven't already) every dollar your employer contributes/matches is in a real sense FOUND MONEY. It can also be looked at as adding an actual return to your overall portfolio. When I was in the investment business I was constantly reminding my clients that as long as they could afford it one of the best ways to pay themselves first was to have an automatic draft or whatever arranged to take money out of the paycheck and have it deposited into a retirement savings plan. Many later came back to me and said that it was the easiest/most effective way for them to save; if they didn't see the monies to begin with they weren't tempted to possibly spend it.

Last thing: like many in many other aspects in life patience is a true and lasting virtue. That's particularly true when it comes to the markets and investing.
Logged
Pages: 1 [2]   Go Up
 

KARK
KWNA
Fox 16 Arkansas