Can You Retire on a $100,000

Very true. I hope I get that six figure paycheck in a few years

 

it's possible

the hardest part is figuring out which field to branch into that pays money

once you narrow that down, the rest is simple

knowing what to major in and going on the interviews is cake, as long as you stay motivated and sharp

you also have to note that some jobs start you out low at around 50-60k. the key to look for is what they pay after 5-10 years. Some fields really reward you once you gain some experience, and that pay can easily become 80-90k. coming out the gate at 80-100k is going to be a little more dicey. As for competition (high paying jobs = stiffer comp), all you have to do is stay motivated, current and realize that you ARE better for whatever company you are going to work for.

 

Yeah, annualized that would be 36% interest a year. In the stock hey day a bit back people didn't do that good and it definitely wasn't sustained to take you through your whole retirement.

To blacktiger my answer would be no. Even if you owned your home if would not give you enough per month to live. Why are you asking and using that amount? Like fg there are calculators around that you can put in how much you think you could live on each month then it tells you how much you need in retirement fund to sustain that standard

 

like i said...WHAT bank is that, cuz i need to switch it up

:smt033

as for the blacktiger OP, yeah 100k really isnt enough

lots of people are at the point where they realize 1 million isnt even enough, especially since people on average are living longer

 

Btiger here is one such calculator:

http://cgi.money.cnn.com/tools/retirementneed/retirementneed_plain.html

 

Last NCAA basketball season, I was talking to a wealth advisor at a bar, we started out talking how to sustain wealth with a million dollars or more. Mind you, I didn't think of the brokerage fees and capital gain tax on that money. The way the economy is going today, you'll be lucky to get a 3% return on your money.

 

i remember losing 3k+ out of my mutual fund portfolio within like 2 years of opening it

never let bankers slick-talk u into investing without doing the research and exploring other options first

wish i could remember what the investments were to see if anyone else suffered

misery loves company lol

 

3% a year is pretty doable but you better keep working. 100k aint shit in the us

 

everyone's trying to get that fast money exit out of the game

 

I just wanna be I just wanna be I just wanna be successful

YOLO

#DRAKEISLAMEBUTGOODFORAQUOTEORTWO

 

Yup - but BT may not want to calculate that. Its really depressing actually. I nearly died the last time I calculated it.

 

It depends on where you live. In a small town with low property taxes and no state income tax it would be great but,in a big metropolitan city? Forget it. Jordan C thanks for that calculator. It would take a regular person more than half a million bucks to be really retired. If a person wins a lottery of a million or more he/she must invest very wisely.

 

Nope. I live in a small town. I just called a local bank. The rate is 1.something%. Generates a little over $100 a month. I spend that in gas every week.

 

Yes, if you live less than a year after retiring.

 

Thank you all who responded for your input. Debbie and I appreciate it very much. We (wife and I) have just arrived at the "Dawn of Solvency" from nearly $80,000 in debt. We celebrated with champagne, and a romantic dinner. Our next goal is to have a net worth of $500,000 or more in the next 15 years based on our 7 point financial plan that I will outline in my next thread here that will be titled "The Morning After: The Dawn of Solvency". Again, thanks. - Blacktiger/Blacktigress

 

Can't wait to hear it sounds awesome fam

Congrats btw. Debt is no joke, it can choke the life out of you if you let it.

 

100 K is nutin' before the economy tanked, let alone now.... need to continue stack and pile the green.

 

lmfaoooo!!:smt081

 

BT wheter it is one of those Dave Ramsey things or another saving plan,congrats. Make sure on what you both spend is important.

 

at what age? LOL