Thoughts on retirement budgeting - Page 6 - Fiberglass RV

Thread Tools Search this Thread Display Modes
Old 11-23-2014, 02:23 PM   #71
Senior Member
Name: Francois
Trailer: Bigfoot
British Columbia
Posts: 1,034
Lending Club math....

from their website, in a bold box, illustrating how the concept works, typically:

"borrowers pay 13%.... minus defaults 4%... minus fees 1% = 8% to lenders/investors"

4% sounds low and resonable until you realize that that is a percentage of a percentage, backwards.....4% loss of revenue is 30% of the business....that's a scary me anyways....

I'm glad it's working for that you have essentially become a loans safeguard your capital

the whole concept is intriguing....sort of downloading the loans officer function/expense to the capital providers.....but like I said I don't want to be a lender (or a landlord either BTW) it's not for me

an unleveraged stock investor who would have just "sat on his hands" in the fall of 2008.....would be ahead by a good margin today

Franswa is online now   Reply With Quote
Old 11-23-2014, 03:19 PM   #72
Senior Member
trumpetguy's Avatar
Name: David
Trailer: Airstream International CCD 28
Posts: 209
I have been in the lending business for all my career so this feels familiar to me. We all must find our comfort level.

Sent from my iPad using Fiberglass RV

2007 Airstream International CCD 28
2016 Dodge Ram Sport 5.7 Hemi 4WD
trumpetguy is offline   Reply With Quote
Old 03-30-2015, 07:58 PM   #73
Junior Member
Posts: 8
Don't forget to factor inflation into future retirement income needs. Even three percent inflation over 20-40 years is astronomical, in terms of what things will cost down the road in a few decades. I think a good financial planner is a must, in order to keep your money growing faster than your need to spend. Also, don't forget to budget for unforeseen out of pocket medical and dental expenses.

Sent from my iPad using Fiberglass RV
AbdRahim is offline   Reply With Quote
Old 03-31-2015, 05:58 AM   #74
Senior Member
cpaharley2008's Avatar
Name: jim
Trailer: 2016 2ndGen Escape19 Prairie Schooner pulled by 2014 Dodge Ram Hemi Sport
Posts: 6,426
Over the past 35 years I have been exposed to just about every financial arrangements possible, most of them risky and shams. We used to say if it smells fishy......When I retired I was working on the Enron scheme. We all know about that one. Then there was the guy on Wall St that took friends and relatives for billions. It goes back to the making gold from lead idea and the Matchlight king who started the first pyramid idea.
Paying someone else to do your thinking and handling your money has inherent risks. They will do what they can to obtain your money. Trying to get it back becomes very hard.
Stick with known variables, stay with insured investments.
Never in doubt, often wrong
cpaharley2008 is offline   Reply With Quote
Old 03-31-2015, 06:37 AM   #75
Senior Member
honda03842's Avatar
Name: Norm and Ginny
Trailer: Scamp 16
Posts: 7,350
It's difficult if not almost impossible to see the future. Significant financial disruption is always a possibility, disruption that most of us would find difficult. Assuming regular financial change, normal levels of inflation, most people will survive.

After 14 years of RV travel, mostly living off personal resources, we are surprised how little it takes to live comfortably on the road. Certainly during this period our costs have increased, both fuel and food have increased dramatically.

When we started we were 58, with no government or industry pensions and no insurances. We survived just fine and believe we had our happiest years traveling North America. We have not for a single moment regretted the changes in our lives.

Though we were spending well less than half we did when working we did not feel deprived at all. It turned out that we actually needed a lot less than we previously had needed.

We have changed the way we live, we are spending less and enjoying life more. Our previous life was grand, our present life is different and better. We have joyfully scaled back.

Scaling back suggests that you are giving something up, I suppose that's true. Is what you've given up missed? Is what you've given up been replaced by something less expensive but better?

As we enter year 15 we are hoping for 10 more road years. Our model in our Escapee park is Gordie, 92 years old. He has a large Dutch Star diesel motorhome and a smaller Rialto class C motorhome. He's always going out for a week or two, camping around Florida. Recently he tool a summer long trip up to the Maritimes and New England. Obviously not a normal situation but a possibility.

As an example of cost containment, we are about to sell our home in NH and have created a less expensive home base here in Florida. The difference in investment is close to 10 to 1, a reduction that provides an actually more comfortable living situation with dramatically lower operating costs while freeing of capital.

There are ways and we have been beneficiaries of a new life style.
Norm and Ginny

2014 Honda Odyssey
1991 Scamp 16
honda03842 is offline   Reply With Quote
Old 04-01-2015, 04:37 PM   #76
Senior Member
Name: Francois
Trailer: Bigfoot
British Columbia
Posts: 1,034
great advice....

"Stick with known variables, stay with insured investments."

yeah sure...except all the "insured investments" I can think of offer a negative rate of return after inflation these just a bit better than putting cash in a coffee can and bury it in the backyard

and what's a "known variable"?? is that like a "known unknown"??? like a trend is a trend until it ends??...

the only "sure thing" investment I can think of is life insurance....but you don't get to enjoy it

these days it is really easy and inexpensive to invest on your own and in everything under the sun if you so choose....very time consuming for sure (research) but time is something I have a lot of...and it's turned into an interesting hobby of win, you crash, you crash......nobody to congratulate/blame but yourself....I like that

there is certainly no size fits all in this some leaving a sizable legacy is high on the priority list....some like to travel in style ("Honey, if we don't go first class our kids will") then there's the ultimate financial plan outcome: The very last cheque you write is to the government and it bounces!

good luck to all of us
Attached Thumbnails
brewa9b.jpg   brewa1d.jpg  

Franswa is online now   Reply With Quote
Old 05-25-2015, 01:18 PM   #77
Senior Member
Weinel, Alan's Avatar
Name: Alan
Trailer: FORMERLY:Scamp 19 ft 5th Wheel Deluxe ('The White House')
Posts: 329
GREAT THREAD!!! Lots of interesting subtopics. Michele and I (Alan) retired 5 1/2 years ago. Planned for it and it is working so far. We were socking away the max in 401(k) ##AND## 457 plans the last 10 years or so. So, we were already living on a severely reduced income. Shrug. In any case, retired when the NET cash flow from pension alone exceeded net cash (after funding 401/457) working. Admittedly we are no longer funding, but neither are we drawing. We are pretty much living on our income. The 401/457... We DID draw $30k THREE years ago and still have 2/3 in hand. So we ARE **slightly** deficit spending every month, but we also are enjoying the heck out of life. GRIN. I, too, am a retired CPA (Hi Harley), and so I do a fair amount (i.e. WAY TOO MUCH) analysis work. ORIGINALLY I had anticipated deleting the 401/457 pot by age 85. Figgered by then we would be ready for a more sedentary life, and would be WILLING to live on just pension and SSA. SO FAR, we are not drawing NEAR what I projected. So we either have to step up the spending OR plan that the kids just might get some buckage from mom and pop when we are gone.

PLAN for tomorrow, but LIVE for TODAY!!

Weinel, Alan is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Thoughts on Retirement honda03842 General Chat 65 08-19-2013 08:20 AM
Retirement Fun Lisa H. Jokes, Stories & Tall Tales 3 07-12-2009 06:02 AM
FiberglassRV and Retirement Bigfoot Mike General Chat 40 08-09-2008 10:38 AM

» Upcoming Events
No events scheduled in
the next 465 days.
» Featured Campgrounds

Reviews provided by

Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -6. The time now is 05:04 PM.

Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.