Right, so expect only $40k of income from that $1M of 401k investments. Unless you've got other income...pension, Social Security, etc., it's gonna be difficult to make it on that.
At 58, I've been doing a lot of reading on this, and often wondered why you should be aiming to maintain the principal balance. Assuming you don't care about leaving an inheritance, shouldn't the ideal goal be to die broke? What's that quote?...I want the last check I write to bounce. Anyway, I'm planning to read this book soon.
Big families like that tend to not use daycare. The older kids, or other family members pitch in.
One more point... While it's expensive to raise a kid, it becomes less expensive to raise the 2nd, 3rd, etc. You've already got things in place that can be used by the siblings.
I was the middle of 9 children graduating college in 2008. I too would like to know how much money my parents actually spent raising us.
Having raised a kid who graduated college in '12, I'd estimate that pre-college, I'd spent $150-200k, then another $140k (out of state tuition) for college. I'll qualify this by mentioning that I live in northern VA...high cost of living, and that I certainly could have done it for less, but I've got a good job, and she's my only kid. I'd say that daycare expenses were probably what did the most damage pre-college...single dad w/o family nearby, so it was my only option.
So at $2M savings, assuming you've got it invested in say a 401k, and using the typical 4% rule, that would give you $80k/yr to live off of. And in retirement, you typically don't need as much as when you're working...people tend to argue that point, and we can if anyone cares. At $80k, if you can't be comfortable, you're doing it wrong.
1. Many of those mentioned aren't just wealthy, they're in powerful positions. Stop working...lose much of that power, even though you've retained the money.
2. For many others who could easily afford to quit work, having something meaningful to do is still important. If you love your job...why quit. Anecdote: I could retire comfortably now, and plan to leave my company in a couple years, when I can collect full pension. But, I'll still find something meaningful to do with my time...volunteer work, most likely.
3. And, we've all heard of the lucky few who've hit it big in the lottery, or got some other windfall, only to be broke a year later. There are many articles and studies on this. It all comes down to the simple fact that the vast majority of people simply don't know how to manage money, or have the self discipline to live on a reasonable budget.
Corporations are people. And some corporations are very small - how large does a corporation have to be before we arbitrarily say that corporations no longer deserve due care?
No, corporations are composed of people. And that's where a line should be drawn. If a corporation (CEO, President, or Board) wants to do something, fine...those individuals should be accountable in every sense, including doing jail time if the corporation fucks up. Care to count how many Wall St. bankers have gone to jail after the housing crisis? Corporations also wield undo influence because they can hire lobbyists that individuals simply can't afford. And, because of that, much of government doesn't do the will of the people, it does the will of their corporate benefactors. This is where SCOTUS fucked up when equated corporate "speech" as a right.
Social Security was never meant to be all you survived on. And, I'm saying that as someone who's supporting both his mom and mother-in-law, both of whom are living on only their SS, and my support.
Just my suspicion... Most of the officers are former military police. I doubt many have gotten the military mindset out of their systems, and realize that the civilian population isn't the enemy. As a vet myself, I remember that the people who scored the lowest on the ASVAB exam became cooks and military police. And so now you've got some of the dullest knives in the drawer as LEOs. At a minimum, some training needs to be done...but then, I don't know, maybe it is already.
Suburban Detroit. My mom lives about 15 miles outside of the city. I've never once seen a taxi in her town. She can get an Uber nearly any time of day.
The thing is that, in the U.S., there are vast swaths of the country where there is no taxi service, or none within an hour. Uber can be handy at times even if it's at a taxi price.
Those places have no Uber cars either.
Wrong. Just don't post if you don't know WTF you're talking about.
Um, those drivers are still presumably paying taxes, and showing up as employed. So, yes, it does. I hooked my mother up with Uber in suburban Detroit, where it's next to impossible to get a taxi. Not only that, she's disabled, and wouldn't be able to get into most taxis. With Uber, she can specify the type of vehicle she wants. Show me a taxi service that does that.
Can you tell us how taxi drivers are vetted? I mean outstanding warrants and a credit check? Do they give a shit if they're a convicted felon who's done his time?...I'm doubtful.
Agreed, and I didn't vote for him either. But the allegations never played will with me. There was no evidence, and why would it all suddenly come up a month before the election? This was a clear smear attempt.
Height change is easily attributable to dietary improvement. You could almost see it happening in Korea over the last few decades as they added meat to their diets. That's not an evolutionary change.
I'll just say that in my anecdotal case, where the doctor showed me the view up there, and I thought I'd never fit in that thing again...It all snapped back. Those things are AMAZING!
Slashdot Mirror
Right, so expect only $40k of income from that $1M of 401k investments. Unless you've got other income...pension, Social Security, etc., it's gonna be difficult to make it on that.
At 58, I've been doing a lot of reading on this, and often wondered why you should be aiming to maintain the principal balance. Assuming you don't care about leaving an inheritance, shouldn't the ideal goal be to die broke? What's that quote?...I want the last check I write to bounce. Anyway, I'm planning to read this book soon.
https://www.amazon.com/Die-Bro...
Big families like that tend to not use daycare. The older kids, or other family members pitch in.
One more point... While it's expensive to raise a kid, it becomes less expensive to raise the 2nd, 3rd, etc. You've already got things in place that can be used by the siblings.
I was the middle of 9 children graduating college in 2008. I too would like to know how much money my parents actually spent raising us.
Having raised a kid who graduated college in '12, I'd estimate that pre-college, I'd spent $150-200k, then another $140k (out of state tuition) for college. I'll qualify this by mentioning that I live in northern VA...high cost of living, and that I certainly could have done it for less, but I've got a good job, and she's my only kid. I'd say that daycare expenses were probably what did the most damage pre-college...single dad w/o family nearby, so it was my only option.
At least you'll have free sex.
So at $2M savings, assuming you've got it invested in say a 401k, and using the typical 4% rule, that would give you $80k/yr to live off of. And in retirement, you typically don't need as much as when you're working...people tend to argue that point, and we can if anyone cares. At $80k, if you can't be comfortable, you're doing it wrong.
You've got several issues here.
1. Many of those mentioned aren't just wealthy, they're in powerful positions. Stop working...lose much of that power, even though you've retained the money.
2. For many others who could easily afford to quit work, having something meaningful to do is still important. If you love your job...why quit. Anecdote: I could retire comfortably now, and plan to leave my company in a couple years, when I can collect full pension. But, I'll still find something meaningful to do with my time...volunteer work, most likely.
3. And, we've all heard of the lucky few who've hit it big in the lottery, or got some other windfall, only to be broke a year later. There are many articles and studies on this. It all comes down to the simple fact that the vast majority of people simply don't know how to manage money, or have the self discipline to live on a reasonable budget.
Corporations are people. And some corporations are very small - how large does a corporation have to be before we arbitrarily say that corporations no longer deserve due care?
No, corporations are composed of people. And that's where a line should be drawn. If a corporation (CEO, President, or Board) wants to do something, fine...those individuals should be accountable in every sense, including doing jail time if the corporation fucks up. Care to count how many Wall St. bankers have gone to jail after the housing crisis? Corporations also wield undo influence because they can hire lobbyists that individuals simply can't afford. And, because of that, much of government doesn't do the will of the people, it does the will of their corporate benefactors. This is where SCOTUS fucked up when equated corporate "speech" as a right.
You only need to google "mafia influence on UAW" to understand why. The Teamsters is another example.
Social Security was never meant to be all you survived on. And, I'm saying that as someone who's supporting both his mom and mother-in-law, both of whom are living on only their SS, and my support.
"over embellish"
Pot, kettle?
Just my suspicion... Most of the officers are former military police. I doubt many have gotten the military mindset out of their systems, and realize that the civilian population isn't the enemy. As a vet myself, I remember that the people who scored the lowest on the ASVAB exam became cooks and military police. And so now you've got some of the dullest knives in the drawer as LEOs. At a minimum, some training needs to be done...but then, I don't know, maybe it is already.
Suburban Detroit. My mom lives about 15 miles outside of the city. I've never once seen a taxi in her town. She can get an Uber nearly any time of day.
The thing is that, in the U.S., there are vast swaths of the country where there is no taxi service, or none within an hour. Uber can be handy at times even if it's at a taxi price.
Those places have no Uber cars either.
Wrong. Just don't post if you don't know WTF you're talking about.
"So people using Uber does not raise employment"
Um, those drivers are still presumably paying taxes, and showing up as employed. So, yes, it does. I hooked my mother up with Uber in suburban Detroit, where it's next to impossible to get a taxi. Not only that, she's disabled, and wouldn't be able to get into most taxis. With Uber, she can specify the type of vehicle she wants. Show me a taxi service that does that.
Can you tell us how taxi drivers are vetted? I mean outstanding warrants and a credit check? Do they give a shit if they're a convicted felon who's done his time?...I'm doubtful.
"you need to know that the people driving taxis aren't, for example, serial rapists or armed robbers"
Bullshit. Once they've done their time, there's nothing stopping them from becoming a taxi driver.
Not disagreeing with the rest of your comment, but streamed voice grade audio requires very little bandwidth.
Funny, it didn't seem to be happening prior to the Obama administration. I'm glad he bridged the racial divide.
Someone's been watching too much TV...
http://vikings.wikia.com/wiki/...
Agreed, and I didn't vote for him either. But the allegations never played will with me. There was no evidence, and why would it all suddenly come up a month before the election? This was a clear smear attempt.
Um, no. Just as if your parents starved you, and stunted your growth, that's not an evolutionary change either.
And what did Bam Bam have to say about this?
Height change is easily attributable to dietary improvement. You could almost see it happening in Korea over the last few decades as they added meat to their diets. That's not an evolutionary change.
I'll just say that in my anecdotal case, where the doctor showed me the view up there, and I thought I'd never fit in that thing again...It all snapped back. Those things are AMAZING!
Who would want to go through surgery if they didn't have to, and then go through a year long period of recovery?
Apparently, at least 3%...that's just the number that were granted, not the number who requested it.
http://www.cosmopolitan.com/he...