Distribution of Wealth in SD County

[an]

[quote=sdcellar]Maybe next you’ll try “I know you are, but what am I?” Sheesh.

Well, as usual, I’m one step ahead of you (several, actually). “Infinity.”[/quote]
Haha, you’re hillarious. For such an old guy, you can be very childish. Here’s a cookie for you.

[CA renter]

Not wanting to get into the middle of this, but…

AN,

Cal-PERS is in the pickle they’re in because of their optimistic assumptions about returns — about 8-9% is what they’ve usually projected over the past 15 years. They have a huge deficit NOT because of “greedy unions” (though Gov. Davis didn’t help things when he increased their retirement benefits), but because of the double-whammy of the stock/tech crash and the subsequent RE/credit/stock market crash. If not for these downturns, Cal-PERS would be in pretty good shape (again, the increase in benefits passed in 1999/2000 needs to be reversed, IMHO).

If you can earn 8% every year over 15 years — especially these past 15 years (and no losses?!?) — then you are in the wrong business, IMHO. Run, don’t walk, over to Wall Street and start earning your millions. 😉

Not sure that an RN who works only weekends can make $75K, either, but admit to not knowing for sure. I think they have to work **at least** three days, 12 hours each shift. If both spouses are RNs and they work opposing shifts (eliminating the need for childcare), then they would only see each other one day a week. Not sure that’s really feasible either (unless you really hate your spouse).

Have to agree with sdcellar here. Your assumptions about savings and returns are **mighty** optimistic.

[CA renter]

Not wanting to get into the middle of this, but…

AN,

Cal-PERS is in the pickle they’re in because of their optimistic assumptions about returns — about 8-9% is what they’ve usually projected over the past 15 years. They have a huge deficit NOT because of “greedy unions” (though Gov. Davis didn’t help things when he increased their retirement benefits), but because of the double-whammy of the stock/tech crash and the subsequent RE/credit/stock market crash. If not for these downturns, Cal-PERS would be in pretty good shape (again, the increase in benefits passed in 1999/2000 needs to be reversed, IMHO).

If you can earn 8% every year over 15 years — especially these past 15 years (and no losses?!?) — then you are in the wrong business, IMHO. Run, don’t walk, over to Wall Street and start earning your millions. 😉

Not sure that an RN who works only weekends can make $75K, either, but admit to not knowing for sure. I think they have to work **at least** three days, 12 hours each shift. If both spouses are RNs and they work opposing shifts (eliminating the need for childcare), then they would only see each other one day a week. Not sure that’s really feasible either (unless you really hate your spouse).

Have to agree with sdcellar here. Your assumptions about savings and returns are **mighty** optimistic.

[CA renter]

Not wanting to get into the middle of this, but…

AN,

Cal-PERS is in the pickle they’re in because of their optimistic assumptions about returns — about 8-9% is what they’ve usually projected over the past 15 years. They have a huge deficit NOT because of “greedy unions” (though Gov. Davis didn’t help things when he increased their retirement benefits), but because of the double-whammy of the stock/tech crash and the subsequent RE/credit/stock market crash. If not for these downturns, Cal-PERS would be in pretty good shape (again, the increase in benefits passed in 1999/2000 needs to be reversed, IMHO).

If you can earn 8% every year over 15 years — especially these past 15 years (and no losses?!?) — then you are in the wrong business, IMHO. Run, don’t walk, over to Wall Street and start earning your millions. 😉

Not sure that an RN who works only weekends can make $75K, either, but admit to not knowing for sure. I think they have to work **at least** three days, 12 hours each shift. If both spouses are RNs and they work opposing shifts (eliminating the need for childcare), then they would only see each other one day a week. Not sure that’s really feasible either (unless you really hate your spouse).

Have to agree with sdcellar here. Your assumptions about savings and returns are **mighty** optimistic.

[CA renter]

Not wanting to get into the middle of this, but…

AN,

Cal-PERS is in the pickle they’re in because of their optimistic assumptions about returns — about 8-9% is what they’ve usually projected over the past 15 years. They have a huge deficit NOT because of “greedy unions” (though Gov. Davis didn’t help things when he increased their retirement benefits), but because of the double-whammy of the stock/tech crash and the subsequent RE/credit/stock market crash. If not for these downturns, Cal-PERS would be in pretty good shape (again, the increase in benefits passed in 1999/2000 needs to be reversed, IMHO).

If you can earn 8% every year over 15 years — especially these past 15 years (and no losses?!?) — then you are in the wrong business, IMHO. Run, don’t walk, over to Wall Street and start earning your millions. 😉

Not sure that an RN who works only weekends can make $75K, either, but admit to not knowing for sure. I think they have to work **at least** three days, 12 hours each shift. If both spouses are RNs and they work opposing shifts (eliminating the need for childcare), then they would only see each other one day a week. Not sure that’s really feasible either (unless you really hate your spouse).

Have to agree with sdcellar here. Your assumptions about savings and returns are **mighty** optimistic.

[CA renter]

Not wanting to get into the middle of this, but…

AN,

Cal-PERS is in the pickle they’re in because of their optimistic assumptions about returns — about 8-9% is what they’ve usually projected over the past 15 years. They have a huge deficit NOT because of “greedy unions” (though Gov. Davis didn’t help things when he increased their retirement benefits), but because of the double-whammy of the stock/tech crash and the subsequent RE/credit/stock market crash. If not for these downturns, Cal-PERS would be in pretty good shape (again, the increase in benefits passed in 1999/2000 needs to be reversed, IMHO).

If you can earn 8% every year over 15 years — especially these past 15 years (and no losses?!?) — then you are in the wrong business, IMHO. Run, don’t walk, over to Wall Street and start earning your millions. 😉

Not sure that an RN who works only weekends can make $75K, either, but admit to not knowing for sure. I think they have to work **at least** three days, 12 hours each shift. If both spouses are RNs and they work opposing shifts (eliminating the need for childcare), then they would only see each other one day a week. Not sure that’s really feasible either (unless you really hate your spouse).

Have to agree with sdcellar here. Your assumptions about savings and returns are **mighty** optimistic.

[an]

CAR, I admit I can’t tell the future, so I don’t know how the market will do over the next 15 years. I only have data from the past to give me an estimate of what kind of return I might be able to expect in the future. You’re right that if the next 15 years is like what we experience in the last 10 years or 60s-80s, then the 8% return would be too optimistic. However, if the market perform how it did between 80s-00s or 40s-60s, then 8% wouldn’t be optimistic enough. That’s the the problem with using historical average to estimate what you can get in the next 15 years. If anything, to me, one really need to start saving as early as possible, because you don’t know what kind of return you can expect. So, if you start at 25 and the next 15s, the market is crappy, then you’ll still only be 40. You have the luxury to wait another 15 years. However, if you start at 40, you won’t have that luxury.

Yes, for an RN to make $75k, s/he would need to work 3 days. If they plan opposite shifts as you say, then they won’t need childcare. If you have one spouse making more than $75k, then the RN spouse have the luxury to only work on the weekend and still get you close to $150k.

With regards to saving $4k/month. I don’t think that’s optimistic at all. As I said in prior post, we’re making less than $150k and we’re saving on average of $4k/month. We’re not even close to our parents in term of frugality. We go on vacations, we buy luxury cars, we eat out at fancy restaurants, etc. It’s all about setting goals and making saving for retirement as a priority.

[an]

CAR, I admit I can’t tell the future, so I don’t know how the market will do over the next 15 years. I only have data from the past to give me an estimate of what kind of return I might be able to expect in the future. You’re right that if the next 15 years is like what we experience in the last 10 years or 60s-80s, then the 8% return would be too optimistic. However, if the market perform how it did between 80s-00s or 40s-60s, then 8% wouldn’t be optimistic enough. That’s the the problem with using historical average to estimate what you can get in the next 15 years. If anything, to me, one really need to start saving as early as possible, because you don’t know what kind of return you can expect. So, if you start at 25 and the next 15s, the market is crappy, then you’ll still only be 40. You have the luxury to wait another 15 years. However, if you start at 40, you won’t have that luxury.

Yes, for an RN to make $75k, s/he would need to work 3 days. If they plan opposite shifts as you say, then they won’t need childcare. If you have one spouse making more than $75k, then the RN spouse have the luxury to only work on the weekend and still get you close to $150k.

With regards to saving $4k/month. I don’t think that’s optimistic at all. As I said in prior post, we’re making less than $150k and we’re saving on average of $4k/month. We’re not even close to our parents in term of frugality. We go on vacations, we buy luxury cars, we eat out at fancy restaurants, etc. It’s all about setting goals and making saving for retirement as a priority.

[an]

CAR, I admit I can’t tell the future, so I don’t know how the market will do over the next 15 years. I only have data from the past to give me an estimate of what kind of return I might be able to expect in the future. You’re right that if the next 15 years is like what we experience in the last 10 years or 60s-80s, then the 8% return would be too optimistic. However, if the market perform how it did between 80s-00s or 40s-60s, then 8% wouldn’t be optimistic enough. That’s the the problem with using historical average to estimate what you can get in the next 15 years. If anything, to me, one really need to start saving as early as possible, because you don’t know what kind of return you can expect. So, if you start at 25 and the next 15s, the market is crappy, then you’ll still only be 40. You have the luxury to wait another 15 years. However, if you start at 40, you won’t have that luxury.

Yes, for an RN to make $75k, s/he would need to work 3 days. If they plan opposite shifts as you say, then they won’t need childcare. If you have one spouse making more than $75k, then the RN spouse have the luxury to only work on the weekend and still get you close to $150k.

With regards to saving $4k/month. I don’t think that’s optimistic at all. As I said in prior post, we’re making less than $150k and we’re saving on average of $4k/month. We’re not even close to our parents in term of frugality. We go on vacations, we buy luxury cars, we eat out at fancy restaurants, etc. It’s all about setting goals and making saving for retirement as a priority.

[an]

CAR, I admit I can’t tell the future, so I don’t know how the market will do over the next 15 years. I only have data from the past to give me an estimate of what kind of return I might be able to expect in the future. You’re right that if the next 15 years is like what we experience in the last 10 years or 60s-80s, then the 8% return would be too optimistic. However, if the market perform how it did between 80s-00s or 40s-60s, then 8% wouldn’t be optimistic enough. That’s the the problem with using historical average to estimate what you can get in the next 15 years. If anything, to me, one really need to start saving as early as possible, because you don’t know what kind of return you can expect. So, if you start at 25 and the next 15s, the market is crappy, then you’ll still only be 40. You have the luxury to wait another 15 years. However, if you start at 40, you won’t have that luxury.

Yes, for an RN to make $75k, s/he would need to work 3 days. If they plan opposite shifts as you say, then they won’t need childcare. If you have one spouse making more than $75k, then the RN spouse have the luxury to only work on the weekend and still get you close to $150k.

With regards to saving $4k/month. I don’t think that’s optimistic at all. As I said in prior post, we’re making less than $150k and we’re saving on average of $4k/month. We’re not even close to our parents in term of frugality. We go on vacations, we buy luxury cars, we eat out at fancy restaurants, etc. It’s all about setting goals and making saving for retirement as a priority.

[an]

CAR, I admit I can’t tell the future, so I don’t know how the market will do over the next 15 years. I only have data from the past to give me an estimate of what kind of return I might be able to expect in the future. You’re right that if the next 15 years is like what we experience in the last 10 years or 60s-80s, then the 8% return would be too optimistic. However, if the market perform how it did between 80s-00s or 40s-60s, then 8% wouldn’t be optimistic enough. That’s the the problem with using historical average to estimate what you can get in the next 15 years. If anything, to me, one really need to start saving as early as possible, because you don’t know what kind of return you can expect. So, if you start at 25 and the next 15s, the market is crappy, then you’ll still only be 40. You have the luxury to wait another 15 years. However, if you start at 40, you won’t have that luxury.

Yes, for an RN to make $75k, s/he would need to work 3 days. If they plan opposite shifts as you say, then they won’t need childcare. If you have one spouse making more than $75k, then the RN spouse have the luxury to only work on the weekend and still get you close to $150k.

With regards to saving $4k/month. I don’t think that’s optimistic at all. As I said in prior post, we’re making less than $150k and we’re saving on average of $4k/month. We’re not even close to our parents in term of frugality. We go on vacations, we buy luxury cars, we eat out at fancy restaurants, etc. It’s all about setting goals and making saving for retirement as a priority.

[UCGal]

[quote=AN]With regards to saving $4k/month. I don’t think that’s optimistic at all. As I said in prior post, we’re making less than $150k and we’re saving on average of $4k/month. We’re not even close to our parents in term of frugality. We go on vacations, we buy luxury cars, we eat out at fancy restaurants, etc. It’s all about setting goals and making saving for retirement as a priority.[/quote]

I agree with CAR about 8% being optimistic. Especially if you’re diversified to mitigate risk.

As far as $4k/month savings – if you’re contributing max to the 401k – that’s $2750/month for a 2 income household right there. Toss in the 529 contributions for your kids college fund… and your taxable investments and income… it’s not that hard to get to $4k. Especially if you have a habit of using employee stock purchase plans to fund savings/investing or annual bonuses being allocated for savings/investing.

We’re not at 4k… but we’re getting close. If they hadn’t decimated my bonus the last few years we would have hit the 4k average/month figure.

[UCGal]

[quote=AN]With regards to saving $4k/month. I don’t think that’s optimistic at all. As I said in prior post, we’re making less than $150k and we’re saving on average of $4k/month. We’re not even close to our parents in term of frugality. We go on vacations, we buy luxury cars, we eat out at fancy restaurants, etc. It’s all about setting goals and making saving for retirement as a priority.[/quote]

I agree with CAR about 8% being optimistic. Especially if you’re diversified to mitigate risk.

As far as $4k/month savings – if you’re contributing max to the 401k – that’s $2750/month for a 2 income household right there. Toss in the 529 contributions for your kids college fund… and your taxable investments and income… it’s not that hard to get to $4k. Especially if you have a habit of using employee stock purchase plans to fund savings/investing or annual bonuses being allocated for savings/investing.

We’re not at 4k… but we’re getting close. If they hadn’t decimated my bonus the last few years we would have hit the 4k average/month figure.

[UCGal]

[quote=AN]With regards to saving $4k/month. I don’t think that’s optimistic at all. As I said in prior post, we’re making less than $150k and we’re saving on average of $4k/month. We’re not even close to our parents in term of frugality. We go on vacations, we buy luxury cars, we eat out at fancy restaurants, etc. It’s all about setting goals and making saving for retirement as a priority.[/quote]

I agree with CAR about 8% being optimistic. Especially if you’re diversified to mitigate risk.

As far as $4k/month savings – if you’re contributing max to the 401k – that’s $2750/month for a 2 income household right there. Toss in the 529 contributions for your kids college fund… and your taxable investments and income… it’s not that hard to get to $4k. Especially if you have a habit of using employee stock purchase plans to fund savings/investing or annual bonuses being allocated for savings/investing.

We’re not at 4k… but we’re getting close. If they hadn’t decimated my bonus the last few years we would have hit the 4k average/month figure.

[UCGal]

[quote=AN]With regards to saving $4k/month. I don’t think that’s optimistic at all. As I said in prior post, we’re making less than $150k and we’re saving on average of $4k/month. We’re not even close to our parents in term of frugality. We go on vacations, we buy luxury cars, we eat out at fancy restaurants, etc. It’s all about setting goals and making saving for retirement as a priority.[/quote]

I agree with CAR about 8% being optimistic. Especially if you’re diversified to mitigate risk.

As far as $4k/month savings – if you’re contributing max to the 401k – that’s $2750/month for a 2 income household right there. Toss in the 529 contributions for your kids college fund… and your taxable investments and income… it’s not that hard to get to $4k. Especially if you have a habit of using employee stock purchase plans to fund savings/investing or annual bonuses being allocated for savings/investing.

We’re not at 4k… but we’re getting close. If they hadn’t decimated my bonus the last few years we would have hit the 4k average/month figure.

[Author]

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