What's your "walk away" number?

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nimbus said:
The Fed’s official position is that inflation will spike temporarily, then return to under 2% which is their long term target. I recently spent $90 for a tank of gas and $15 at McDonald’s just for myself so I don’t believe them. It feels like inflation is already here.
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i dont know about gas since i cant afford a car but spending 15$ at mcdonalds for myself has been pretty easy for a while..
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nimbus said:
I like it. My parents didn’t know any better so it reminds me of my youth:)
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You are Asian. Y'all make some amazing healthy food. Why are you still eating this crap? No excuses. LOL.
I have recently found out that Filipinos fry every damn thing though and was quite surprised.
 
chocomorsel said:
You are Asian. Y'all make some amazing healthy food. Why are you still eating this crap? No excuses. LOL.
I have recently found out that Filipinos fry every damn thing though and was quite surprised.
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True. My mom would make rice every night so we’d have some rice with our McDonald’s.
 
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anbuitachi said:
i dont know about gas since i cant afford a car but spending 15$ at mcdonalds for myself has been pretty easy for a while..
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Maybe this will run all med students away from anesthesia and bring some balance back to the force
 
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pgg said:
I have funded my kids' Roths to the limit of the law since they were making lawn-cutting and babysitting money, and will continue doing so for at least a few years. It's an amount that's lost in the noise for me, but will have extraordinary benefits for them 50 years from now. Better that they learn something about stocks, bonds, asset allocation, SWR, sequence of return, etc etc from me, and not some subreddit gaggling on about stonks.

At least one of them is unlikely to enter a high-paying field (he's a musician) and I don't mind subsidizing him for a while longer.
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I'm the same way with my kids earned income, except I want them to also have to contribute themselves. For every dollar they earn, they save 50 cents to the Roth and they get to spend the rest. I, in turn, match whatever they contribute to the Roth. I listen to financial podcasts whenever they are in the car, so hopefully they are getting at least some info via Osmosis.
 
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BLADEMDA said:
Inflation is coming soon. Many of you are just too young to remember real inflation. Biden is flooding the economy with cash. Jay Powell openly said he will let the economy run hot and make sure inflation is above 3 percent before raising interest rates.

many experts know this is highly likely later this year or in 2022. They are preparing for it. You should too.
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the actual economic experts are not "preparing" for this or "expecting" it. They admit it should have been here long ago and do not understand why it is not. Also Powell did not say he was going to make sure inflation was above 3% before raising rates, the Fed doesn't speak that clearly on anything. They just said that they did not see rates rising in the near future.

fredgraph.png



Expected inflation, while rising from the disaster that was early 2020, is definitely not expected to go crazy in comparison to recent history.
 
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BLADEMDA said:
Inflation is coming soon. Many of you are just too young to remember real inflation. Biden is flooding the economy with cash. Jay Powell openly said he will let the economy run hot and make sure inflation is above 3 percent before raising interest rates.

many experts know this is highly likely later this year or in 2022. They are preparing for it. You should too.
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Inflation just creates new opportunities
 
A financial advisor I know told me retirement has 3 phases. The go go years, the slow go years and finally the no go years and expenses for the first and last are much higher than the middle phase. He has a point in that spending in retirement is not constant year to year.
 
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Drwine said:
A financial advisor I know told me retirement has 3 phases. The go go years, the slow go years and finally the no go years and expenses for the first and last are much higher than the middle phase. He has a point in that spending in retirement is not constant year to year.
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I think it is basically that early in retirement you are spending more money doing fun stuff and less money on health and essential services. The older you get that relationship inverts as you can't really do much fun but it costs a lot to keep living (healthcare, assisted living, whatever).
 
When I'm old just throw me in the trash. I don't want to be one of these gomers getting hip nails and cpr at 95
 
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Good for you guys man. You guys hustle.

I'm just playing the numbers every week and hoping I get lucky. I'm gonna take that jackpot, put it in a high yield savings and move to Monaco.:rofl:
 
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Mman said:
I think it is basically that early in retirement you are spending more money doing fun stuff and less money on health and essential services. The older you get that relationship inverts as you can't really do much fun but it costs a lot to keep living (healthcare, assisted living, whatever).
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Going to second the "just put me in the trash" idea. I'm going to be a DNR/DNI long before I need assisted living, god willing
 
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Mad Jack said:
Going to second the "just put me in the trash" idea. I'm going to be a DNR/DNI long before I need assisted living, god willing
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easy to say now, but difficult to say later when you are mentally intact but physically struggling
 
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Mman said:
easy to say now, but difficult to say later when you are mentally intact but physically struggling
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I made peace with death a long time ago. Better to go early and leave my family something than squander it all keeping my rotting carcass alive. Given how my family tends to go out all it'll take is simply not taking meds for a few weeks and passing from natural causes
 
Mad Jack said:
I made peace with death a long time ago. Better to go early and leave my family something than squander it all keeping my rotting carcass alive. Given how my family tends to go out all it'll take is simply not taking meds for a few weeks and passing from natural causes
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It’ll ultimately be up to your family though. I have an in law in memory care. It costs as much as a private medical school but this person is otherwise healthy as a horse. Going early is not always a choice.
 
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nimbus said:
It’ll ultimately be up to your family though. I have an in law in memory care. It costs as much as a private medical school but this person is otherwise healthy as a horse. Going early is not always a choice.
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it is easy to claim you will just put a bullet in your head if you become a burden to your family or society later in life, but I think it is prudent to financially plan to be spending money on your own care later in life.
 
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nimbus said:
It’ll ultimately be up to your family though. I have an in law in memory care. It costs as much as a private medical school but this person is otherwise healthy as a horse. Going early is not always a choice.
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Hunter-S-Thompson.jpg

Is it not a choice though? Between voluntary withdrawal of care, living in a state that allows euthanasia, and the Hunter S. Thompson retirement plan, I've got options. Hopefully it never comes to that, but my fundamental beliefs with regard to life clash with crippling disability, something my wife and family fully understand and which is spelled out in all of my advanced care planning documents
 
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DocVapor said:
I'm going to be counting on those physical struggles to make sure I yeet myself off a cliff in my Ferrari at 160 mph.
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