User Panel
User Panel
User Panel
ME, USA
|
Posted: 5/6/2024 9:04:21 PM EDT
[#1]
Quote HistoryOriginally Posted By HRoark87: I'm not going to see any doctor who's not making six figures. Residents and fellows don't make six figures.....but that is pretty misleading. Attendings that don't make six figures are probably working one day a week or less. |
|
|
FL, USA
|
Posted: 5/6/2024 9:04:35 PM EDT
[#2]
Quote HistoryOriginally Posted By RIP-Yataski: But that sweet, sweet taxpayer funded pension... Quote HistoryOriginally Posted By RIP-Yataski: Originally Posted By Kingstrider: Lol teacher what is that guy smoking? Most teachers I know don't make squat. But that sweet, sweet taxpayer funded pension... My sister in law was a teacher and retired a millionaire before 50. That pension is a big part of it but she will get no Social Security. |
|
|
|
Posted: 5/6/2024 9:04:45 PM EDT
[#3]
dave ramsey is a silly cunt who dispenses advice to b**mas who can't handle a credit cahd.
|
|
|
|
MI, USA
|
Posted: 5/6/2024 9:06:10 PM EDT
[#4]
Quote HistoryOriginally Posted By Kingstrider: Lol teacher what is that guy smoking? Most teachers I know don't make squat. Are they new, working in poor districts, and not taking on additional responsibilities? I know one who has been making over $100k a year for at least 15 years. Not sure how much she is up to now. |
|
|
|
Posted: 5/6/2024 9:07:32 PM EDT
[#5]
Quote HistoryOriginally Posted By MachRider: I can't believe he put teachers over doctors, dentists, nurses, and actuaries.  Well there are a lot more teachers than those other professions you mention. It wasn’t a study of how many teachers per 1000 teachers are millionaires, how many engineers per 1000 engineers are millionaires, etc, it was a study of what the top professions were of millionaires. Big difference. Basically- people who are good with numbers have a good chance of making the list, as do people with good pensions, etc. Being fairly stable in your income allows for more productive saving and investing. Being able to do math makes it easier to go “hmmm, I should do XYZ”. |
|
|
|
KS, USA
|
Posted: 5/6/2024 9:07:48 PM EDT
[#6]
Quote HistoryOriginally Posted By st0newall: a million dollars aint what it used to be. You'd need 1.85 million today to equate to the 1 million prize from season 1 of survivor. |
|
|
|
Posted: 5/6/2024 9:08:12 PM EDT
[#7]
Quote HistoryOriginally Posted By miseses: My old landlord was a cheap bastard. My state has a law that if the A/C fails and the landlord does not respond within a certain time you can call a contractor to fix it for you and then deduct it from the rent. I got all my ducks in a row, sent the request via certified mail, got all the receipts and communications then when the clock ran out I called the contractor and he put in a $100 ebay tier motor for like $750. Landlord knew it was a crock of shit but he could do nothing as I had all the paperwork exactly as stipilated in the law. The sound of him on the phone was priceless once he realized just how much it cost him for ignoring replacing a very cheap component. Did he renew her lease when it was up, or just raise the rent to compensate for your actions? |
|
|
|
GA, USA
|
Posted: 5/6/2024 9:09:12 PM EDT
[#8]
Quote HistoryOriginally Posted By deanwormer: Boomers lived through a mostly bull stock market and had cheap houses that are now worth a ton. Any of them that aren’t >$1M net worth are massive financial losers. well.. if they sent their kids to college and took out loans and lived in macmansions its very possible they dont have that much. divorce, if it involved kids also can be a huge drain on net worth. |
|
|
MI, USA
|
Posted: 5/6/2024 9:09:55 PM EDT
[#9]
Quote HistoryOriginally Posted By RIP-Yataski: But that sweet, sweet taxpayer funded pension... Quote HistoryOriginally Posted By RIP-Yataski: Originally Posted By Kingstrider: Lol teacher what is that guy smoking? Most teachers I know don't make squat. But that sweet, sweet taxpayer funded pension... May even be able to double dip. |
|
|
|
Posted: 5/6/2024 9:10:19 PM EDT
[#10]
What do most teachers do during summer?
My wife said they tried to work in her day started teaching the 70's |
|
|
|
FL, USA
|
Posted: 5/6/2024 9:10:28 PM EDT
[Last Edit: jsnappa]
[#11]
Quote HistoryOriginally Posted By madmathew: I had no idea that that many doctors weren't making 6 figures. The article makes it sound like 33% of doctors don’t make 6 figures, but the data shows that it’s 33% of millionaires in the survey who never made 6 figures. |
|
|
USA
|
Posted: 5/6/2024 9:12:36 PM EDT
[#12]
A million ain't worth a dime anymore
|
|
|
|
Posted: 5/6/2024 9:13:19 PM EDT
[#13]
Quote HistoryOriginally Posted By MikeMilligan: This web site has taught me a lot and there’s a ton of smart people here…But the Dave Ramsey hate that’s so frequent here is really disappointing. He’s helped a lot of people. A lot. Successful people should want to teach others. Someone who did well for himself by a different method than he teaches should want to say right on man, keep helping people…You would think. If the subject was alcohol and his audience was alcoholics, his advice would be 100% appropriate. That's why some people get so worked up about it. Those people who get so worked up about it should stop and think though, most of the people who listen to Dave Ramsey and think his advice is a revelation, are exactly the kind of people who should be listening to Dave Ramsey. A bunch of them probably have $80k in credit card debt from building a monster truck in their back yard. |
|
|
|
|
Posted: 5/6/2024 9:13:41 PM EDT
[Last Edit: spidey07]
[#14]
Quote HistoryOriginally Posted By CTYC313: Are they new, working in poor districts, and not taking on additional responsibilities? I know one who has been making over $100k a year for at least 15 years. Not sure how much she is up to now. Quote HistoryOriginally Posted By CTYC313: Originally Posted By Kingstrider: Lol teacher what is that guy smoking? Most teachers I know don't make squat. Are they new, working in poor districts, and not taking on additional responsibilities? I know one who has been making over $100k a year for at least 15 years. Not sure how much she is up to now. My wife is retired teacher. Money firm and us calculated the actual net worth of her pension and health insurance for life when she decided to retire. The present value of that, in today’s dollars, came out to 4.5 million using a 4% withdrawl rate, inflation, health insurance, etc. HI is a huge part of that value. And when I retire I jump on hers. |
|
|
|
AL, USA
|
Posted: 5/6/2024 9:18:55 PM EDT
[#15]
20 years ago would you be impressed if someone was worth $500k?
I wouldn’t have been. Thats a millionaire today, I have catching up to do of my own, but if I don’t have at least $3 million in cash/investments when I retire in 25 years, I’m probably screwed. I better hurry the fvck up. |
|
|
|
Posted: 5/6/2024 9:20:05 PM EDT
[#16]
Quote HistoryOriginally Posted By Colt1860: If the subject was alcohol and his audience was alcoholics, his advice would be 100% appropriate. That's why some people get so worked up about it. Those people who get so worked up about it should stop and think though, most of the people who listen to Dave Ramsey and think his advice is a revelation, are exactly the kind of people who should be listening to Dave Ramsey. A bunch of them probably have $80k in credit card debt from building a monster truck in their back yard. Quote HistoryOriginally Posted By Colt1860: Originally Posted By MikeMilligan: This web site has taught me a lot and there’s a ton of smart people here…But the Dave Ramsey hate that’s so frequent here is really disappointing. He’s helped a lot of people. A lot. Successful people should want to teach others. Someone who did well for himself by a different method than he teaches should want to say right on man, keep helping people…You would think. If the subject was alcohol and his audience was alcoholics, his advice would be 100% appropriate. That's why some people get so worked up about it. Those people who get so worked up about it should stop and think though, most of the people who listen to Dave Ramsey and think his advice is a revelation, are exactly the kind of people who should be listening to Dave Ramsey. A bunch of them probably have $80k in credit card debt from building a monster truck in their back yard. A ton of broke or broken families in the US these days. I would say the majority of people have no guidance or example for how to handle money. His simple message of living below your means is basic, effective and consistent with conservative values. It helps a ton of people. So of course a bunch of people here hate it for whatever reason. |
|
|
|
MS, USA
|
Posted: 5/6/2024 9:21:22 PM EDT
[Last Edit: atomicbrh]
[#17]
Quote HistoryOriginally Posted By Kingstrider: Lol teacher what is that guy smoking? Most teachers I know don't make squat. School administrators, University professors that have additional incomes from research grants and consulting (think pharmaceuticals/aerospace), University presidents, and highly paid coaches all consider themselves to be classified as educators. This most likely skewed the survey results. In my poor state, there are quite a few public school administrators that are over $200K and many more that are in the $150K to $200K salary range. Then after retirement they get a job working for one of the companies that their school bought "stuff" from. |
|
|
|
Posted: 5/6/2024 9:23:41 PM EDT
[#18]
Quote HistoryOriginally Posted By RIP-Yataski: But that sweet, sweet taxpayer funded pension... Shhh.... that is their million dollar nest egg that they like to not talk about. No need for a 401k, IRA, 457b, or any other savings. With that cushy cash coming in, why bother!! |
|
|
|
TX, USA
|
Posted: 5/6/2024 9:24:23 PM EDT
[#19]
Quote HistoryOriginally Posted By Kingstrider: Lol teacher what is that guy smoking? Most teachers I know don't make squat. someone who is likely married to someone who makes more than them. someone with guaranteed income, with a set retirement, staying in the same home for decades. million net worth isnt what you think it is. |
|
|
|
Posted: 5/6/2024 9:25:07 PM EDT
[#20]
Quote HistoryOriginally Posted By Missilegeek: A ton of broke or broken families in the US these days. I would say the majority of people have no guidance or example for how to handle money. His simple message of living below your means is basic, effective and consistent with conservative values. It helps a ton of people. So of course a bunch of people here hate it for whatever reason. This is 100% correct. True story. Looooong before I ever heard of Ramsey I was doing the basics that he advocates - no bad debt, living below my means, etc. Then, when I finally heard his show, I said to myself, "Self, I'm already doing this stuff." Most of it is intuitive if you have any money sense about you. Sadly, most people don't. |
|
|
|
|
Posted: 5/6/2024 9:26:17 PM EDT
[#21]
Quote HistoryOriginally Posted By UV18: Shhh.... that is their million dollar nest egg that they like to not talk about. No need for a 401k, IRA, 457b, or any other savings. With that cushy cash coming in, why bother!! Why not do it all? Pension + 401k + rentals + brokerage account + SS = winning. |
|
|
|
|
Posted: 5/6/2024 9:27:29 PM EDT
[#22]
Being a millionaire doesn't mean what it used to. Pretty soon it will just mean you're in what is left of the middle class.
|
|
|
|
|
Posted: 5/6/2024 9:28:49 PM EDT
[#23]
Quote HistoryOriginally Posted By UV18: Shhh.... that is their million dollar nest egg that they like to not talk about. No need for a 401k, IRA, 457b, or any other savings. With that cushy cash coming in, why bother!! Quote HistoryOriginally Posted By UV18: Originally Posted By RIP-Yataski: But that sweet, sweet taxpayer funded pension... Shhh.... that is their million dollar nest egg that they like to not talk about. No need for a 401k, IRA, 457b, or any other savings. With that cushy cash coming in, why bother!! I know several who never touched their deferred comp until they were required to do so by law. It's amazing how a meager account can blast into outer space when you only need your pension to live. |
|
|
|
NY, USA
|
Posted: 5/6/2024 9:30:14 PM EDT
[#24]
Engineers, huh?
|
|
|
|
Posted: 5/6/2024 9:31:26 PM EDT
[#25]
Quote HistoryOriginally Posted By PolarBear416: A million ain't worth a dime anymore Can you send me about 10 dimes, please? |
|
|
|
|
Posted: 5/6/2024 9:32:38 PM EDT
[#26]
Quote HistoryOriginally Posted By UV18: Shhh.... that is their million dollar nest egg that they like to not talk about. No need for a 401k, IRA, 457b, or any other savings. With that cushy cash coming in, why bother!! There is a lot of that thinking that happens for sure. |
|
|
|
|
Posted: 5/6/2024 9:32:59 PM EDT
[#27]
Quote HistoryOriginally Posted By boolzi: Eh.. we’re all drunks, druggies, and white trash idiots.(to them) Quote HistoryOriginally Posted By boolzi: Originally Posted By SavedByTheBlood: Originally Posted By CVO: According to ARFCOM, its the guys that replace HVAC capacitors. And in true Arfcom fashion someone comes along to poop on the skilled trades. Eh.. we’re all drunks, druggies, and white trash idiots.(to them) You’re Drunk Right Now, Aren’t You?  Tell the truth. |
|
|
|
|
Posted: 5/6/2024 9:33:01 PM EDT
[#28]
Quote HistoryOriginally Posted By Kingstrider: Lol teacher what is that guy smoking? Most teachers I know don't make squat. |
|
|
|
TX, USA
|
Posted: 5/6/2024 9:33:21 PM EDT
[#29]
Quote HistoryOriginally Posted By deanwormer: Boomers lived through a mostly bull stock market and had cheap houses that are now worth a ton. Any of them that aren’t >$1M net worth are massive financial losers. Hmmm. Not a Boomer, but looking back, from roughly 1945-2008 the DJIA went from about 2,500-10,000. From 2008-2024 it went from roughly 10,000-38,900. 4X increase in 60 years, then another 4X in 16 years. Real estate has been about the same. The last couple decades of But keep hating on Boomers. |
|
|
|
Posted: 5/6/2024 9:33:47 PM EDT
[#30]
Quote HistoryOriginally Posted By lokifox: I know several who never touched their deferred comp until they were required to do so by law. It's amazing how a meager account can blast into outer space when you only need your pension to live. Fingers crossed! (basically my plan…) |
|
|
|
|
Posted: 5/6/2024 9:34:31 PM EDT
[#31]
Quote HistoryOriginally Posted By lokifox: I know several who never touched their deferred comp until they were required to do so by law. It's amazing how a meager account can blast into outer space when you only need your pension to live. This is the missus and I. The RMD sucks, but it's the Law. |
|
|
|
|
Posted: 5/6/2024 9:34:57 PM EDT
[#32]
Quote HistoryOriginally Posted By Lou_Daks: Why not do it all? Pension + 401k + rentals + brokerage account + SS = winning. Quote HistoryOriginally Posted By Lou_Daks: Originally Posted By UV18: Shhh.... that is their million dollar nest egg that they like to not talk about. No need for a 401k, IRA, 457b, or any other savings. With that cushy cash coming in, why bother!! Why not do it all? Pension + 401k + rentals + brokerage account + SS = winning. You forgot the 457b and 403. |
|
|
|
|
Posted: 5/6/2024 9:35:10 PM EDT
[#33]
Quote HistoryOriginally Posted By boolzi: W2 people are the ones i see worried about retirement the most. They never invested in themselves and rely on saving, doing without, and the magical Alice in wonderland stock market. I know "W2 people" that make $2000/day. |
|
|
|
|
Posted: 5/6/2024 9:36:35 PM EDT
[#34]
Quote HistoryOriginally Posted By RedAngus: Hmmm. Not a Boomer, but looking back, from roughly 1945-2008 the DJIA went from about 2,500-10,000. From 2008-2024 it went from roughly 10,000-38,900. 4X increase in 60 years, then another 4X in 16 years. Real estate has been about the same. The last couple decades of But keep hating on Boomers. 1945 to 2008 is pretty cherry picked dude. In fact it's about as cherry picked as you can get. 
|
|
|
|
|
Posted: 5/6/2024 9:37:03 PM EDT
[#35]
Quote HistoryOriginally Posted By Lou_Daks: This is the missus and I. The RMD sucks, but it's the Law. Quote HistoryOriginally Posted By Lou_Daks: Originally Posted By lokifox: I know several who never touched their deferred comp until they were required to do so by law. It's amazing how a meager account can blast into outer space when you only need your pension to live. This is the missus and I. The RMD sucks, but it's the Law. Enjoy it!! Life is short. |
|
|
|
|
Posted: 5/6/2024 9:37:20 PM EDT
[#36]
Quote HistoryOriginally Posted By Kingstrider: Lol teacher what is that guy smoking? Most teachers I know don't make squat. Teachers marry the Lawyer and Engineers. |
|
|
|
|
Posted: 5/6/2024 9:37:57 PM EDT
[#37]
Quote HistoryOriginally Posted By OregonShooter: A million dollar net worth isn't much really. I'll need 2.5M in a retirement account to feel comfortable retiring. |
|
|
|
|
Posted: 5/6/2024 9:38:59 PM EDT
[#38]
Quote HistoryOriginally Posted By madmathew: I had no idea that that many doctors weren't making 6 figures. Surprisingly, medical doctors and physicians didn’t make the top five. They came in sixth position because, as Ramsey put it, even though “they make a lot of money” they’re “notoriously bad” at managing it. “The interesting thing is, one third of them, 33% made less than $100,000 a year,” said Ramsey. “They were not making bank. They were not earning their way into it real quick.” Dunno where he got his info, but it’s absolute bullshit. There’s no way that is true. |
|
|
|
|
Posted: 5/6/2024 9:39:09 PM EDT
[#39]
Quote HistoryOriginally Posted By RedAngus: Hmmm. Not a Boomer, but looking back, from roughly 1945-2008 the DJIA went from about 2,500-10,000. From 2008-2024 it went from roughly 10,000-38,900. 4X increase in 60 years, then another 4X in 16 years. Real estate has been about the same. The last couple decades of But keep hating on Boomers. Yup. Much of the "increase" is just inflation, fueled by a devaluation of the USD. It is also fueled by institutional investors trying get some semblance of a return, plus the explosion of 401k-type accounts that are on auto-pilot buying stocks/funds. Pre-401k, you had to want to invest in the stock market and seek it out. Now it's an automatic no-brainer for most participants. Fortunately I saw this coming early and rode the wave. The wave is still there, you just have to jump on it. Start in your 20s and let it rip. |
|
|
|
|
Posted: 5/6/2024 9:39:16 PM EDT
[#40]
Teacher? I'm just a dumb electrician making 3x or 4x what teachers make in my AO.
|
|
|
|
|
Posted: 5/6/2024 9:39:44 PM EDT
[#41]
Quote HistoryOriginally Posted By spidey07: You forgot the 457b and 403. It's included, the 401k is just a generic term. |
|
|
|
|
Posted: 5/6/2024 9:42:49 PM EDT
[#42]
Quote HistoryOriginally Posted By BoogieCookie: Teacher? I'm just a dumb electrician making 3x or 4x what teachers make in my AO. Will you gain the wealth that their pension and health insurance provides after they put in 27 years of work? |
|
|
|
|
Posted: 5/6/2024 9:43:23 PM EDT
[#43]
Quote HistoryOriginally Posted By lokifox: Enjoy it!! Life is short. Oh, we are! If it wasn't for the RMDs we still wouldn't have touched it, and we're retired 10+ years now. |
|
|
|
|
Posted: 5/6/2024 9:44:25 PM EDT
[#44]
Quote HistoryOriginally Posted By spidey07: Will you gain the wealth that their pension and health insurance provides after they put in 27 years of work? You make a good point. Many people don't consider health care insurance costs in their planning, but it's yuuuuuge. |
|
|
|
|
Posted: 5/6/2024 9:44:33 PM EDT
[#45]
Quote HistoryOriginally Posted By brandyspaw: Yeah, to obtain a million dollar net worth is not that big a deal in this day and age. I think almost anyone with a halfway decent income stream can obtain that goal if they are disciplined with their spending and diligent in their investments. I think its far more dependent upon the individual than what their profession is. You do have to be making a decent income but not being stupid with your money is far more important. Define "big deal". The stats say between 5% and 8% of Americans have a net worth of greater than $1M. By definition that's a small minority of the population, no matter what GD says. From Forbes, and supporting Ramsey's claim: "Tim Corley, a wealth expert and author, has spent years interviewing hundreds of millionaires to learn their habits and how they think. His research concluded that 20% of millionaires made their first million in their mid-to-late 30s, despite having middle-class incomes. They accumulated wealth by practicing frugality and regularly saving and investing about 20% or more of their income." The making of a millionaire I was living large, and paycheck to paycheck as enlisted military until marrying a bookkeeper in my early 30s. We live well. |
|
|
|
TN, USA
|
Posted: 5/6/2024 9:44:51 PM EDT
[#46]
Quote HistoryOriginally Posted By ONETIMER: Guys full of shit. He's an insufferable cunt |
|
|
SC, USA
|
Posted: 5/6/2024 9:45:30 PM EDT
[#47]
Quote HistoryOriginally Posted By FALARAK: What exactly is a "millionaire's life" ? There's no exact answer but I'm sure working swing shifts doesn't paint a lavish lifestyle picture. |
|
|
|
Posted: 5/6/2024 9:46:52 PM EDT
[#48]
Teachers in large districts make a lot of money, great benefits and plenty of time to work a second job during extended vacation times. These numbers probably include professors at Universities, who also make a damn good wage. Them being on that list does not surprise me.
I also recommend the book, "The Millionaire Next Door". |
|
|
|
NY, USA
|
Posted: 5/6/2024 9:47:31 PM EDT
[#49]
Quote HistoryOriginally Posted By Lou_Daks: The bolded part is exceedingly important for becoming financially independent. Most people won't do it. It's like being in shape. Easy to talk about, harder to do because most people are lazy - let's be honest. Yes, saving and worrying constantly about retirement when your body is healthy and life demands is low is absolutely. We all should ensure that when we’re 75 and riddled with cancer that we have plenty of money to piss away in nursing homes and random new car purchases (that we can’t drive). |
|
|
VA, USA
|
Posted: 5/6/2024 9:48:09 PM EDT
[#50]
Forgot politician.
|
|
|
AR15.COM is the world's largest firearm community and is a gathering place for firearm enthusiasts of all types.
From hunters and military members, to competition shooters and general firearm enthusiasts, we welcome anyone who values and respects the way of the firearm.
Subscribe to our monthly Newsletter to receive firearm news, product discounts from your favorite Industry Partners, and more.
Copyright © 1996-2024 AR15.COM LLC. All Rights Reserved.
Any use of this content without express written consent is prohibited.
AR15.Com reserves the right to overwrite or replace any affiliate, commercial, or monetizable links, posted by users, with our own.
