Here is something every non-rich American family should know: The odds are that you

Discussion in 'The Pub' started by EADGBE, Mar 7, 2015.

  1. EADGBE

    EADGBE Member

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  2. skhan007

    skhan007 Supporting Member

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    So my investment in these 2015 Les Pauls with robotic tuners is not the way to plan for retirement? That's not what the guy at GC told me!
     
  3. Gilky

    Gilky Gold Supporting Member

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    So, people who sell financial instruments sometimes act more in their own interest than their clients, and this accounts for an overall loss of 1% of returns in the market?
     
  4. kcprogguitar

    kcprogguitar Member

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    There is every intention on making your children pay for your expenses. I'm not joking either.
     
  5. Campfired

    Campfired Gold Supporting Member

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    I am only concerned if it means no lunch. Gotsta have lunch each day.
     
  6. smolder

    smolder Gold Supporting Member

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    And... the healthcare system will help to bleed you dry as they extend death and rob your children of anything you plan to pass down to them. Apparently this moving of your family up the economic scale thing has gone far enough. That club doesn't want any more members.
     
  7. fjblair

    fjblair Silver Supporting Member

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    I knew that a long time ago at least as it applies to non-pensioners.
     
  8. pjs ire

    pjs ire Member

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    Retirement doesn't sound like that much fun- I plan on dying with my boots on.....Prr
     
  9. bluwoodsman

    bluwoodsman Member

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    I thought bogle was long ago retired!

    Vanguard funds are often pretty darn good for retirement investors. The actively managed ones.

    I think his index fund strategy has fallen out of favor for many due to the light shined on the dishonest self serving practices of wall street.

    To go that route means we need to:

    - trust that the system is honest and well regulated;

    - trust that the oft-repeated backwards history of long term performance will be repeated in the future given the current conditions on wall street.

    Probably all that needs to be said.

    I was a big boglehead for years.

    Trust is totally gone for me.
     
  10. 84superchamp

    84superchamp Silver Supporting Member

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    me too, perhaps. are you self-employed, Paul?

    i must admit that i don't know where my 401k is invested but returns have been good and constant..so far.

    a living will is still on my to-do list, neccessary if you want to leave something for your children. the deck is definately stacked against the working class.:Devil
     
  11. pjs ire

    pjs ire Member

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    Not self employed- work as a hospital psychologist, with a focus on trauma. I love what I do and want to work as long as possible. My dad was a public defender until age 72. I already gave my kids their inheritance (paid off all school loans), so that is done. My dad always thought the golden years thing was bull shite! I guess everyone is different in what they expect of retirement. Personally, I hope not to experience it! Prr
     
  12. AZChilicat

    AZChilicat Member

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    Last time I looked retired people had Medicare. I know pitchforks and torches sell better than fact and reason but really.
     
  13. AZChilicat

    AZChilicat Member

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    That is not endemic to only the US and residential accommodations are a stretch to deem as part of the "healthcare system." Also, you are incorrect in the bolded. One pays a flat rate deductible not a percentage. http://www.medicare.gov/coverage/skilled-nursing-facility-care.html
     
  14. S1Player

    S1Player Member

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    It's a transfer of wealth from investors to investment advisors. The 1% return is not "gone" from the market.

    The article quotes Bogle and recommends low cost index funds as investment vehicles. Follow that advice and your in much better shape.

    Also, "maintain your life style in retirement" is not a real goal. Expenditures change - work related costs go down, some leisure expenses (may) go up. On average - I think the spending rate in retirement is something like 75% of working expenditure rates. Said another way - your lifestyle changes in retirement and you have control to make that new lifestyle cost less.

    Maintaining your life style in retirement is a moot goal.
     
  15. Gillespie1983

    Gillespie1983 Member

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    You've lost me. Are you saying that Bogle's index fund strategy is bad and favors wall street?
     
  16. AZChilicat

    AZChilicat Member

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    These are all excellent points. I always thought a good thesis would be to study the pattern of spending in retirement on a longitudinal basis. My hunch is the resulting data set would be multi-modal and the categories of expenditure would change over time, i.e. from travel and leisure pursuits to housing and medical care.

     
  17. badhorsie551

    badhorsie551 Member

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    as long as I can afford my boutique adult diapers I'll be good. The crap they sell in the regular stores just don't work for me.
     
  18. Echoes

    Echoes Senior Member

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    I plan on 'relic'ing mine ;)
     
  19. Echoes

    Echoes Senior Member

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    My iPad wouldn't open the link....the NY Times isn't allowed through my security settings '********' filter :(
     
  20. AZChilicat

    AZChilicat Member

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    It's just another article that points out most folks are not saving enough, index funds are usually better deals for the vast majority of investors, and that most financial consultants are invariably placed into the agent/principal relationship with an inherent conflict of interest.
     

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