Re: Reality Check - Saab General Bulletin Board - Saabnet.com
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Re: Reality Check
Posted by James [Email] (more from James) on Fri, 11 Mar 2011 06:37:54
In Reply to: Reality Check, Reality, Thu, 10 Mar 2011 12:37:36
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I have to say, I agree with "Reality" on this one... not that one needs 350M to survive (that's not what he's saying - that's a relationship to how much inflation we've had since the term "millionaire" was devised)... I think we (north americans at least) may soon see some decent inflation (personally I think we've had inflation over the last decade through deflation of quality for the same price, but that's another matter, and depends on what one cares about wrt "quality")... Inflation is what makes 1 million in the bank, even conservatively invested, a problem, at least over *that* many years... you need to subtract the inflation rate from your rate of return... all this is fairly easy to calculate... important to not assume (continuous) overly high rates of return (eg a fallacy in "The Wealthy Barber")...
And pensions... well, in high tech, pensions (mostly) don't exist. Your "pension" is your investments. Most pensions are at risk these days... look at Nortel (a high tech anomaly in that it had pensions!)...
I think it is great to live modestly. But I think that alone is probably not enough, at least in an urban environment...
James...
posted by 216.75.189...
Posts in this Thread:
- What's a MILLIONAIRE ?, STICKMAN, Thu, 10 Mar 2011 07:14:34
- Hanging out on the bridge......, Mike Lynch , Thu, 10 Mar 2011 15:51:59
- It's all relative.., AlS, Thu, 10 Mar 2011 14:16:11
- Correction - You need about $2 Million to retire....., MI-Roger , Thu, 10 Mar 2011 13:48:51
- I'm a "Swedish" millionair. If that count for anything?, SWEDECAR , Thu, 10 Mar 2011 11:30:42
- Re: What's a MILLIONAIRE ?, Reality, Thu, 10 Mar 2011 10:23:29
- Billionaire is the new millionaire, No Snaab, Thu, 10 Mar 2011 07:50:33
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