20 votes

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4 comments

  1. ggm
    (edited )
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    Scott Pape, the barefoot investor councils trying to reframe your life to lower income levels and not simply driving yourself into the ground chasing high income lifestyle. It is advice aimed at...

    Scott Pape, the barefoot investor councils trying to reframe your life to lower income levels and not simply driving yourself into the ground chasing high income lifestyle. It is advice aimed at the forty and fifty somethings looking at the sixty plus age group. By that stage you have usually cleared mortgage, and do not need to spend as much on things but do spend on health and experiences.

    I don't seek to contradict the 30x multiplier mentioned here. I just note nobody lives forever. Most worldwide pension and superannuation schemes use actuarial models to draw down capital for a reason.

    5 votes
  2. [3]
    Fin
    Link
    How does this work for someone living paycheck to paycheck? Am I doomed to working my senior years in a walmart greeting center? I have about 2k debt

    How does this work for someone living paycheck to paycheck? Am I doomed to working my senior years in a walmart greeting center? I have about 2k debt

    2 votes
    1. [3]
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      1. [3]
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        1. [3]
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          1. webgambit
            Link Parent
            Which governmental agency is saying you can't have more than 2k in your checking account? I've never heard of this restriction and would like to read up on it.

            Which governmental agency is saying you can't have more than 2k in your checking account? I've never heard of this restriction and would like to read up on it.

          2. teaearlgraycold
            Link Parent
            This is a stupid idea, but it's an idea - you could put any extra money in crypto. As far as I'm aware the US government only cares about this money once you convert it to fiat (USD, etc.).

            This is a stupid idea, but it's an idea - you could put any extra money in crypto. As far as I'm aware the US government only cares about this money once you convert it to fiat (USD, etc.).