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Scott O.
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Inner circle
Midwest
1141 Posts

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Al,

I don't understand your attitude? No one is talking about boogie men or the sky falling. I believe we are just listening to the debate out there and coming to a reasoned conclusion. Small business' (the engine that drives any economic recovery) are leery about all the new regulations that are coming down the pike. As a result they (and larger companies) are even less likely to hire new employees now. And this is a time when jobs need to be created--not shunned. The timing was just not wise for such a costly thing to be done. Less jobs and more taxes are not going to help the economy.

That's not scare tactics. It is common sense.
Do not become weary in doing good, for at the proper time you will reap a harvest, if you do not give up. Galatians 6:9
Al Angello
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Eternal Order
Collegeville, Pa. USA
11047 Posts

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Scott
Many loyal Americans are celebrating.
Al Angello The Comic Juggler/Magician
http://www.juggleral.com
http://home.comcast.net/~juggleral/
"Footprints on your ceiling are almost gone"
SteveB
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St Louis, MO
117 Posts

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Let me guess...
- Obama is not an American
- He wants to turn out country into a socialist empire
- They are going to send my grandma a blue pill to rub her out
- Sarah Palin is our savior
- and FOX news is fair and balanced

Right...

As far as retirement goes, you have to have a plan. Ask your friends who they use and have a couple of meetings with their planners. You will be surprised at the many ways they can work it out.

Some one else mentioned Dave Ramsay... Get his book "Your Total Money Makeover" and follow it. Great guy (when he is not on FOX) Great Plan. Will help you sleep at night.
Regards,
Steve

www.stevebarcellona.com
Dannydoyle
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Eternal Order
20293 Posts

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Quote:
On 2010-04-02 18:55, Steve_Mollett wrote:
Quote:
On 2010-04-01 15:46, millste wrote:
As someone who's best friend works for one of the big insurance companies, I can say that Scott is exactly right about the bill. Costs will skyrocket and you will be fined if you do not buy it. Eventually, it will put insurance companies out of business or they will deny care in order to be able to absorb the costs of having to cover everyone with any condition.


What about all the formerly-deliberately-uninsured who will now add to the company profits?


Yea this was sort of where my major objection is aside from mandate isssues. It seems to be sort of another hand out to corporations that really are not in need of it, but rather are sort of the problem to begin with.

Umm Obama IS an American, Palin is NOT a savior, no blue pill, socialist empire, not so much but socialist tendencies and well Fox makes money LOL.

Al, many Americans are crying right about now too so what? http://www.youtube.com/watch?v=KUGDj8bXfxg

As for retirement, try this.

http://www.amazon.com/Richest-Man-Babylon-George-Clason/dp/0451205367/ref=pd_sim_b_4?
Danny Doyle
<BR>Semper Occultus
<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
SteveB
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St Louis, MO
117 Posts

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Just to clarify... That was sarcasm for the right wing talking points.
Regards,
Steve

www.stevebarcellona.com
Dannydoyle
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Eternal Order
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Steve I know, I was trying to be funny. Pretty nice sumation though.
Danny Doyle
<BR>Semper Occultus
<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
SteveB
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St Louis, MO
117 Posts

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Danny, Rep. Hare has got to be the worst debater I have ever seen.

I bet you that every single conservative who is against health care HAS health care. If they don't then they are crazy!!

"Life, Liberty and the Pursuit of Happiness"
I cannot pursue happiness if I can afford health care for my family. Although the health insurance company CEO sure gets his share of happiness.

I love to talk politics but I am going to drop this because this should be about magic.
Regards,
Steve

www.stevebarcellona.com
Marshall Thornside
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chicago
2016 Posts

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I'm planning to retire next year for sure. I'll live off my IRA... oh wait I'm not going to be 59 1/2 yet.

save my pennies and rub them together.

I save as much as I can and not touch it. Currently with the way the economy is I won't
tie anything up. I won't even contribute to my IRA.
you will remember my name

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Tim Zager
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Kansas City
222 Posts

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I like Timothy Feriss' idea of 'mini-retirements' that he talks about in his book The 4-Hour Work Week. The idea is to enjoy and use your money throughout your life rather than hoarding it all for retirement late in life.
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Alikzam
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Elite user
433 Posts

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Quote:
On 2010-04-04 01:05, Tim Zager wrote:
I like Timothy Feriss' idea of 'mini-retirements' that he talks about in his book The 4-Hour Work Week. The idea is to enjoy and use your money throughout your life rather than hoarding it all for retirement late in life.


That is only one of the many concepts covered in the book. Lifestyle design is exactly what Scott was talking about in the first post in this thread.

As for the American healthcare situation... At first I am sure it will be painful, but in the years to come you'll end up with a healthier country overall. The old system clearly wasn't working.
Ken Northridge
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Atlantic City, NJ
2263 Posts

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Quote:
On 2010-04-01 17:46, Sealegs wrote:
Try to avoid getting divorced. hasn't happened to me but it's been financially crippling to those I know who have.

Oh, you don’t know how true this is. It took me 10 years but I’m finally digging myself out of this pit. I met with a retirement advisor for the first time in my life at age 47! Now I’m playing catch up. $5,000 per year for both me and my spouse in Roth IRA’s, then mutual funds. What you have to really look at realistically is the inflation rate.

My financial advisor recommends putting away much more, but that is based on his advice to not count on any social security. I think that’s a very pessimistic view. I just can’t see the government taking away social security after paying into it for most of my life. Call me naive but that’s my opinion.

Do you think the US government will take away your social security? I’m not talking about people under 25 years of age. It is more likely that they will discontinue social security for that age, but tell them they are discontinuing it at age 25, not after they’ve been counting on it all of their life!
"Love is the real magic." -Doug Henning
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Al Angello
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Eternal Order
Collegeville, Pa. USA
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The reason why divorces are so expensive is because they are worth it, and you always pick better the second time.

Ken
Am I right on both points?
Al Angello The Comic Juggler/Magician
http://www.juggleral.com
http://home.comcast.net/~juggleral/
"Footprints on your ceiling are almost gone"
Dannydoyle
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Eternal Order
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Quote:
On 2010-04-03 19:41, SteveB wrote:
Danny, Rep. Hare has got to be the worst debater I have ever seen.

I bet you that every single conservative who is against health care HAS health care. If they don't then they are crazy!!

"Life, Liberty and the Pursuit of Happiness"
I cannot pursue happiness if I can afford health care for my family. Although the health insurance company CEO sure gets his share of happiness.

I love to talk politics but I am going to drop this because this should be about magic.


Yea the problem though is that is in the Delceration right? Oh well. Magic retirement is the point.

Even more to the point is those who choose not to claim money on taxes. I claim everyting without fail. I knew that if we wanted to buy a car, house or whatever it would have to be with credit. Without being able to prove income, how can anyone expect to qualify for those things?
Danny Doyle
<BR>Semper Occultus
<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
Ken Northridge
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Atlantic City, NJ
2263 Posts

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Quote:
On 2010-04-04 08:20, Al Angello wrote:
The reason why divorces are so expensive is because they are worth it, and you always pick better the second time.

Ken
Am I right on both points?


To your second point, yes, absolutely! To your first, the simple answer is yes, but divorce is not that simple, especially when children are involved. Smile
"Love is the real magic." -Doug Henning
www.KenNorthridge.com
55Hudson
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Special user
Minneapolis
981 Posts

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Scott,
Back to your question about retirement...

There are many books on the subject that your local shop or library will have, but here is a quick summary from my investigations:
- save as much as you can, leverage tax advantage vehicles when possible (don't know Canadian laws)
- create a budget to estimate what you will need in retirement -- helps to create a, "what I spend now", to see if you've being realistic
- Long-term stock market history (mutual fund index is lower risk) suggest that about 8% return on investment is what you can expect. There are simple spreadsheet formulae or calculators that can calculate what you will have.
- most experts suggest only 4% withdrawal rate from your future nest egg. I have settled on 5% for my planning ... but would never get close to the 8% you can expect over the long run. The risk is that you need to draw out when the market is down dramatically, e.g., over the past 18 months!
- Go back to your initial estimate of what you can save and see if that's enough. If it is, then you are golden, if not ... then figure out how to save more or postpone retirement.

Hope that helps!
Steven Steele
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Chief of Staff
Hesperia, California USA
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I have been using a sliding scale since I got married. I wasn't able to save anything when I first got married, due to school loans. Then I was able to save a bit now and then, but children put the kabash on that as well. As they got older and my salary went up I was able to put more and more in. Now with them grown, I'm able to put away 50% or more, when they don't need financial help. Using an increasing scale throughout your life is something I learned from an Economic Adviser guru in the 70's. It made a lot of sense then and it's worked pretty well for me. Oh, and Social Security is not factored into my retirement plan. I only use what I have reasonable control of.
Scott Burton
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Great stuff guys. There's some real solid advice and valuable voices of experience here. Thanks. I believe this is helping many more people than just me.
Chad C.
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I'm 30 and I have not used social security in any of my retirement plans - I'm paying it for those who need it now. I don't see it being around when I'm old enough to qualify for it and like someone mentioned above, I plan for what I can control - the gov't is not someone you want to rely on for your retirement...it's your responsibility.
Scott O.
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Midwest
1141 Posts

Profile of Scott O.
Ditto on that Chad. I'm past 30, but I have never assumed that I would receive social security. I might, but I'm not banking on it. Relying on the gov't for anything other than national security is an unwise venture.
Do not become weary in doing good, for at the proper time you will reap a harvest, if you do not give up. Galatians 6:9
wizardofsorts
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Special user
Chicago, IL
935 Posts

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There are a multitude of retirement calculators out there. According to several I have used, I will need between $1M and $2M saved by the time I retire (I'm 31). I figure I have 35 more good working years in me. So, to have the above mentioned $ I need to invest $5000 per year and get an 8% return over the 35 years. Which isn't unrealistic.

So really it's just a simple matter of math. How much you need/how many years to retirement*expected interest rate.

Edd
Edd Fairman, Wizard of Sorts is a corporate magician available for your next trade show, hospitality suite, client luncheon, or company event. http://www.wizardofsorts.com
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