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Author Topic: Lifetime Income Store ?  (Read 509 times)

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golf2day

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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!
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PorkSoda

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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.
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HiggiePiggy

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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. 
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golf2day

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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.
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HiggiePiggy

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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.
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Vantage 8 dude

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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.
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HiggiePiggy

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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.
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Vantage 8 dude

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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.
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