Thoughts on retirement budgeting - Page 6 - Fiberglass RV


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Old 11-23-2014, 03:23 PM   #71
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Name: Francois
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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 number...to me anyways....

I'm glad it's working for you....now that you have essentially become a loans officer...to 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) anymore.....so 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
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Old 11-23-2014, 04:19 PM   #72
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I have been in the lending business for all my career so this feels familiar to me. We all must find our comfort level.


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Old 03-30-2015, 08:58 PM   #73
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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.


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Old 03-31-2015, 06:58 AM   #74
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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.
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Old 03-31-2015, 07:37 AM   #75
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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.
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Old 04-01-2015, 05:37 PM   #76
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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 days.....so 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 sorts......you win, you win....you crash, you crash......nobody to congratulate/blame but yourself....I like that

there is certainly no size fits all in this business...to 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
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Old 05-25-2015, 02:18 PM   #77
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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!!
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