Financial Advice

[msparks]

Originally Posted by PimTac
4% is the number that is generally accepted by many professionals and investors. One way to verify your drawdown is to run a good Monte Carlo simulation. There are good MC calculators on the web.

Don't trust the number, verify it.




I read a white paper that suggests 2.8% in this low interest rate environment for a 90% chance of not running out of money. I like the idea of having some "guaranteed income" during retirement at least to cover living expenses. The rest put into whatever investment vehicle you like. I'm also a fan of having at least 1-2 years savings so that I don't have to pull out funds during a correction which can really wipe out your retirement.

 

[cjcride]

Originally Posted by msparks
Originally Posted by SVTCobra
Buy a book. I'd rather take the advice of a published author vs a lot of opinions (which some are good, don't get me wrong) to determine my financial life.
And a book isn't an opinion? didn't Karl Marx write a book?

true, and so did that other guy

 

[Wolf359]

Originally Posted by msparks
Originally Posted by PimTac
4% is the number that is generally accepted by many professionals and investors. One way to verify your drawdown is to run a good Monte Carlo simulation. There are good MC calculators on the web.

Don't trust the number, verify it.




I read a white paper that suggests 2.8% in this low interest rate environment for a 90% chance of not running out of money. I like the idea of having some "guaranteed income" during retirement at least to cover living expenses. The rest put into whatever investment vehicle you like. I'm also a fan of having at least 1-2 years savings so that I don't have to pull out funds during a correction which can really wipe out your retirement.


It depends how you invest the money. If you're too conservative, then it might make sense.

Here's a recent article regarding millionaires at Fidelity. Basically a couple of take aways is that the ones who do well have a higher percentage of their investments in equity funds. The others are to start early, save a lot, take advantage of any company matching funds and don't borrow against your 401k. Even in this low interest environment, the S&P 500 has returned about 15.25% over the past 3 years and 11.7% over the last 5 years.

https://www.investors.com/etfs-and-...ng-fidelity-millionaires-avoid-mistakes/

 

[Mr Nice]

Wolf,

The problem is that many Americans don't think about saving for retirement until they are over 35 years old.

Very common to see people in their late 40's not saving for their future.

 

[JHZR2]

Originally Posted by Imp4
1. Do not seek financial advice on a motor oil forum. It's not that you couldn't get good advice here, but what are the chances?

2. Head over to Bogleheads.org and ask financial stuff there. Don't ask them about motor oil though. They could give you good motor oil advice, but what are the chances...

Good luck!!!

Actually, there's a lot of smart and fiscally conservative folks on here, as well as a variety of investors in stocks and other items. There has been for a very long time, a stock buying and selling thread on here. Less active recently, but very long standing.

You can do a lot worse than asking about it on here. Doubtful most of the members on bogleheads or other personal finance forums are that much more qualified than people on here.