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ParticipantER, all very good points and I agree to them all. I was actually the one who mentioned $2M and $100k/year. I actually mean $100k before tax, not after tax. $100k after tax would definitely make my retire that much more lavish.
Sure, the last 3 years, CDs might be paying ~3%, couple years before that, there were around 6%. If you have $2M and retiring today, you should be laddering your CD. I’m sure if you average CD rate over the last 10 years, it would be >5%.
I also totally agree about rental properties. I like to have my retirement fund more diverse. Which would also include rental properties. I don’t want to put all of my eggs in one basket.
I personally don’t care too much about all the expenses in individual categories. I’m more concentrated in total expenses. I keep track of all the big expenses, but all the smaller categories, like groceries, insurance, gas, etc, I just keep track of total monthly expense. I can always look up the details with Quicken or Mint, but they’re not something I look at every month.
ParticipantI can’t give you a recommendation on the flooring company since I have mine installed by an independent contractor. But with regards to high end hard wood flooring, I think $10-$12/sq-ft seems about right for material a lone. Installation runs between $1.50-2.50/sq-ft. High end bamboo from Teragren goes for around $6-8/sq-ft for materials.
ParticipantI can’t give you a recommendation on the flooring company since I have mine installed by an independent contractor. But with regards to high end hard wood flooring, I think $10-$12/sq-ft seems about right for material a lone. Installation runs between $1.50-2.50/sq-ft. High end bamboo from Teragren goes for around $6-8/sq-ft for materials.
ParticipantI can’t give you a recommendation on the flooring company since I have mine installed by an independent contractor. But with regards to high end hard wood flooring, I think $10-$12/sq-ft seems about right for material a lone. Installation runs between $1.50-2.50/sq-ft. High end bamboo from Teragren goes for around $6-8/sq-ft for materials.
ParticipantI can’t give you a recommendation on the flooring company since I have mine installed by an independent contractor. But with regards to high end hard wood flooring, I think $10-$12/sq-ft seems about right for material a lone. Installation runs between $1.50-2.50/sq-ft. High end bamboo from Teragren goes for around $6-8/sq-ft for materials.
ParticipantI can’t give you a recommendation on the flooring company since I have mine installed by an independent contractor. But with regards to high end hard wood flooring, I think $10-$12/sq-ft seems about right for material a lone. Installation runs between $1.50-2.50/sq-ft. High end bamboo from Teragren goes for around $6-8/sq-ft for materials.
ParticipantER, I totally agree with you that lifestyle makes a HUGE difference when coming up with the $ amount needed for retirement. Some people would say $500k would be more than enough for them to retire on and others will need $10M+. I know people who DON’t ENJOY going out to eat or go traveling. So, their retirement would be them staying home and working on their house/yard. Those people don’t need much to retire, as long as they have their house paid for. Others who travel all over the place and go out to eat constantly will probably need many millions to retire.
I also agree that rental property(ies) should be counted toward the net worth for retirement, since they can be liquidated if need be. I was only referring to primary resident, since we all need to live somewhere.
For me, when I can accumulate enough where I can live off the interest alone is when I think I’m ready to retire. That will compensate for different spending habits and have enough money to last you through your entire retirement. When I’m talking about interest, I’m talking about something very stable, like CD.
ParticipantER, I totally agree with you that lifestyle makes a HUGE difference when coming up with the $ amount needed for retirement. Some people would say $500k would be more than enough for them to retire on and others will need $10M+. I know people who DON’t ENJOY going out to eat or go traveling. So, their retirement would be them staying home and working on their house/yard. Those people don’t need much to retire, as long as they have their house paid for. Others who travel all over the place and go out to eat constantly will probably need many millions to retire.
I also agree that rental property(ies) should be counted toward the net worth for retirement, since they can be liquidated if need be. I was only referring to primary resident, since we all need to live somewhere.
For me, when I can accumulate enough where I can live off the interest alone is when I think I’m ready to retire. That will compensate for different spending habits and have enough money to last you through your entire retirement. When I’m talking about interest, I’m talking about something very stable, like CD.
ParticipantER, I totally agree with you that lifestyle makes a HUGE difference when coming up with the $ amount needed for retirement. Some people would say $500k would be more than enough for them to retire on and others will need $10M+. I know people who DON’t ENJOY going out to eat or go traveling. So, their retirement would be them staying home and working on their house/yard. Those people don’t need much to retire, as long as they have their house paid for. Others who travel all over the place and go out to eat constantly will probably need many millions to retire.
I also agree that rental property(ies) should be counted toward the net worth for retirement, since they can be liquidated if need be. I was only referring to primary resident, since we all need to live somewhere.
For me, when I can accumulate enough where I can live off the interest alone is when I think I’m ready to retire. That will compensate for different spending habits and have enough money to last you through your entire retirement. When I’m talking about interest, I’m talking about something very stable, like CD.
ParticipantER, I totally agree with you that lifestyle makes a HUGE difference when coming up with the $ amount needed for retirement. Some people would say $500k would be more than enough for them to retire on and others will need $10M+. I know people who DON’t ENJOY going out to eat or go traveling. So, their retirement would be them staying home and working on their house/yard. Those people don’t need much to retire, as long as they have their house paid for. Others who travel all over the place and go out to eat constantly will probably need many millions to retire.
I also agree that rental property(ies) should be counted toward the net worth for retirement, since they can be liquidated if need be. I was only referring to primary resident, since we all need to live somewhere.
For me, when I can accumulate enough where I can live off the interest alone is when I think I’m ready to retire. That will compensate for different spending habits and have enough money to last you through your entire retirement. When I’m talking about interest, I’m talking about something very stable, like CD.
ParticipantER, I totally agree with you that lifestyle makes a HUGE difference when coming up with the $ amount needed for retirement. Some people would say $500k would be more than enough for them to retire on and others will need $10M+. I know people who DON’t ENJOY going out to eat or go traveling. So, their retirement would be them staying home and working on their house/yard. Those people don’t need much to retire, as long as they have their house paid for. Others who travel all over the place and go out to eat constantly will probably need many millions to retire.
I also agree that rental property(ies) should be counted toward the net worth for retirement, since they can be liquidated if need be. I was only referring to primary resident, since we all need to live somewhere.
For me, when I can accumulate enough where I can live off the interest alone is when I think I’m ready to retire. That will compensate for different spending habits and have enough money to last you through your entire retirement. When I’m talking about interest, I’m talking about something very stable, like CD.
Participant[quote=CDMA ENG]What they really are saying is that currently they plan to make thier devices frequency dependent. I predict this will last about a year. Simple truth is that the handset makers radio will be able to do business on all of these frequencies. The chip makers do not want to retool to make the chip frequncy dependent therefore there will be some hardware or software fix, to limit searchable frequencies, for this which will take some smart hacker all of about 6 months to figure out. Trust me, someone will jail break these devices and then it game on. The handset is being hijacked as to hopefully keeping the consumer with them. Eventually these tactics fall apart and techincally the phone will be able to handle all of the 700 block and 2100 AWS spectrum.
This is all just a marketing scheme for now.
CE[/quote]
So, in essence, you’re saying I was right w/ my original state of:
[quote=AN]What I’ve read is that, even LTE phones between VZW and AT&T are not compatible due to the different frequencies that the 2 LTE network operate at.[/quote]
You’re speculating that they’ll play nice in the future, but that’s nothing more than speculation. We’ll have to wait and see, but in the mean time, LTE devices today or in the next year can’t be used across the 2 different network.Participant[quote=CDMA ENG]What they really are saying is that currently they plan to make thier devices frequency dependent. I predict this will last about a year. Simple truth is that the handset makers radio will be able to do business on all of these frequencies. The chip makers do not want to retool to make the chip frequncy dependent therefore there will be some hardware or software fix, to limit searchable frequencies, for this which will take some smart hacker all of about 6 months to figure out. Trust me, someone will jail break these devices and then it game on. The handset is being hijacked as to hopefully keeping the consumer with them. Eventually these tactics fall apart and techincally the phone will be able to handle all of the 700 block and 2100 AWS spectrum.
This is all just a marketing scheme for now.
CE[/quote]
So, in essence, you’re saying I was right w/ my original state of:
[quote=AN]What I’ve read is that, even LTE phones between VZW and AT&T are not compatible due to the different frequencies that the 2 LTE network operate at.[/quote]
You’re speculating that they’ll play nice in the future, but that’s nothing more than speculation. We’ll have to wait and see, but in the mean time, LTE devices today or in the next year can’t be used across the 2 different network.Participant[quote=CDMA ENG]What they really are saying is that currently they plan to make thier devices frequency dependent. I predict this will last about a year. Simple truth is that the handset makers radio will be able to do business on all of these frequencies. The chip makers do not want to retool to make the chip frequncy dependent therefore there will be some hardware or software fix, to limit searchable frequencies, for this which will take some smart hacker all of about 6 months to figure out. Trust me, someone will jail break these devices and then it game on. The handset is being hijacked as to hopefully keeping the consumer with them. Eventually these tactics fall apart and techincally the phone will be able to handle all of the 700 block and 2100 AWS spectrum.
This is all just a marketing scheme for now.
CE[/quote]
So, in essence, you’re saying I was right w/ my original state of:
[quote=AN]What I’ve read is that, even LTE phones between VZW and AT&T are not compatible due to the different frequencies that the 2 LTE network operate at.[/quote]
You’re speculating that they’ll play nice in the future, but that’s nothing more than speculation. We’ll have to wait and see, but in the mean time, LTE devices today or in the next year can’t be used across the 2 different network. -
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