How will you pay for escorts in retirement?

[+ Vegas_Millennial]

15 hours ago, Coolwave35 said:

What’s so interesting is that I’ve been max contributing into my Roth IRA for 21 years.  There’s barely $225,000 in there

Don't be too disheartened.  That sounds about right.  I, too, have maxed my Roth IRA contributions for 22 years, and the balance is bouncing around $215K right now (was $240K at start of 2022, $195K at end of 2022).  That means you have been averaging about 8% per year net of fees... Around average for 20 years.  Some could achieve higher averages north of 10% if they were as knowledgeable and active as @Kevin Slater, but many investors achieve less than 5% because they get scared and sell when the market falls, and wait until it goes up before buying again.

The nice thing is... Even if you don't add to it or change your investments, your $225K should be $500K when you're 50 and $1M when you're 60.  And that's all TAX FREE for just being patient and waiting and not having to work or actively manage it.

But I agree with @Kevin Slater, know what you're invested in.  Start with an s&p500 index fund, which means you'll know you're invested in the 500 largest companies in the United States.  When you feel like learning more about investing in middle and small sized companies, then branch out and invest in funds for those. 

TIP: Before you invest in any fund, ask to read its "Prospectus".  The Prospectus for a mutual fund is like a Syllabus for a college class... It tells you what to expect.  You wouldn't continue in a college course without reading the syllabus on the first day, so you shouldn't invest in a mutual fund without reading its Prospectus.

Edited February 2, 2023 by Vegas_nw1982
Korrected Speling eror

[samhexum]

On 1/21/2023 at 2:40 PM, Quincy_7 said:

How will you pay for escorts in retirement?

A.  Why would I pay for an escort who is in retirement?

B.  Bitcoin

[BonVivant]

Social Security checks. 🥳🥳🥳🥳

 

I don’t do river boat slot machines. 

[jeezifonly]

My hiring pattern has slowed down with time. Still haven’t stepped back in the waters since the start of COVID and will probably look this summer. Because it’s gotten rare for me, my retirement income would easily allow for (4) “E-Ticket” encounters a year.
••• If you don’t understand what E Ticket means, you probably aren’t old enough to retire🤣•••

 

[Whippoorwill]

I figure, you die with a million dollars in the bank, you lose. You die owing a million dollars, you win. I am happily but prudently spending down my portfolio. The one thing in life I am sure of is that I’m not going to take it with me. 
 

While I spend more on travel and boys than I did when I was younger and working, there are many expenses that are less…new suits, freshly laundered shirts every day, downtown lunches daily, commuting costs, etc. And while the stock market was in the long bull market I had more money at the end of the year than the beginning. Those days are over, but a young plaything now and then is nickels and dimes.