how long will his money last?

my brother in law just retired at 67. he has around $750,000 portfolio. most is cash. his health is fair to good. he had prostate cancer years ago, tributes it to agent orange. he gets a small VA benefit for shrapnel wound in his eye.

any way he and i were talking about if he could live comfortable, still hunting (Texas), vacationing and gun collecting in moderation. No safari's, Brown bear hunts etc.

What do ya'll think?

I told him in my experience investing sucks at his age. It takes FOREVER to make money but thanks to Trump and his Tariffs, you can lose $3,000 in three weeks. Make it back in 8 months, MAYBE.

Two many unknowns here. What are his cost of living expenses and what is his SS and VA payout bringing in? Assuming his portfolio stays in low risk/ low return investments like CD ladders, it'll last about 20 years at $40K-$45K a year burn rate.

Pot Stocks are, "HIGH" today.

More! More tariffs.

Debts?

He should go to Vegas and bet everything on red.

After that, buy 3 munis for $500,000 each at 4% return and live off the $60,000 a year

If he stays invested and makes 4% per year he can withdraw $50k per year for 22 years before he runs out of money.

But if he gives it too me, ill make him 8% plus a signed Madoff Timex watch.

Mine is still growing. I'm living off my social security, and two pensions. My IRA is even still growing after my RMD.

Bitcoin is where you can make some real money.

Except for today, bleeding 500

that oughta do 'er

good stuff, thanks

Except that the $50,000 in 22 years would be worth $25,000 in todays money and will be just enough to pay your prop taxes while eating out of your neighbors trash can.
So u gonna need more, always more, more, more, more, more, more.
And once you gonna have more, you need more again, and more on top of that more

Inflation does not apply to retired people like it does to working people. You no longer buys as much gas, clothes, pay tolls, houses, etc, etc.

You sell your relic yet? Are you keeping it for future gains?

If he was in Vietnam and had prostate cancer he can get more from the VA. He needs to get with a service organization like TVC or DAV, just for examples. Tax-free income potentially. PM if you'd like.

Edited to add: 38CFR 3.309(e) and 4.115(b).

I would check the math but probably this is ok.

this

.

Please see my post above and have him get with a Veteran's service organization, if he hasn't already.

Some do but I don't mind spending like a drunk sailor (no offense to drunk sailor's). Wife and I are enjoying what we have accomplished. No use sitting around in the dark looking for grocery deals.

I totally agree.
When retirement kicks in, more time, more traveling, golfing, hunting, fishing trips.
No way i ll sit on my velcro chair counting coupons hoping for rain. Im outta here as much as i can till health will force me on that velcro chair.

I would say he's better off retirement wise than 90% of Americans.

Is he going to get social security? Does the 750k count all of his retirements etc.

With no interest earned, no social security and nothing else he has 3,125 a month for 20 years. As long as he doesn't buy guns like you do I think he will be fine.

Earning 5%, its $3125 in interest a month before tax.

he gets $4586 per month from VA and SS combined

If he can’t live on that, plus the interest on the $750,000, he might need to make some lifestyle changes.

What some folks spend to me is crazy. Im in my low 30's two kids in daycare and a mortgage and I can and most months do get buy spending less than just the 4,586.

One upper thread

I wish I made that a month

He could move to Central or South American or Southeast Asia and live like Donald Trump

He has $750k cash assets, and gets another $4586 per month from SS/VA

This dude needs to start spending and stop saving.

Pretty much

$90,000 per year spending money.
Go ahead and start buying some guns.

No joke. If the $4586 were and annuity, figured in with the cash value of what that would cost, whatever equity in property he has, and his $750k, he is worth well more than a million. He might should get much of that $750k out of cash and into some index funds high/low risk proportioned per how much risk he is willing to take. Maybe even at this point in his life look at part of it in some high dividend blue chip stocks, let it ride, and just add the dividend checks to his monthly income. There are some paying 4% or more. He has lots of investment options for that $750k, but to make up for that 22 year rule, "most is cash" is not where it needs to be. As said, he is better off than 90% of Americans at his age. Congratulations to him.

I gonna he will be ok. He could buy a boat and get a girlfriend named Sparkles.

Does this Sparkles you speak of have a number?

I know people that will have to work way past retirement age.

^^^^Definitely. I guess its all relative to what your used to and what you expect and I can attest to the fact that the more you get the more you want. Toys just get bigger etc. But he is soooo much better off than most I would think he would be thankful and leave it at that.

I just bet "Sparkles" could help him deplete that nest egg.

You could donate to a member and still make it.



https://www.cmnetwork.org/serving-with-cmn/

I'm 66, 15 days short of 67. Anyway, you guys shouldn't want to/have to consult social media for opinions on your choices....damn!

word ^^^^^

[quote=RedRanger]He has $750k cash assets, and gets another $4586 per month from SS/VA

How much is that in hookers and blow?

I’ll bet Charlie Sheen could answer that question.

90% of questions are actually statements in disquise.

wins the internet today

I actually sat down with an advisor yesterday doing some retirement planning. Let's just say that it was nice to be making decisions based on tax consequences rather than figuring out how to eat.

You have $750,000 in the bank?? Sure you can find Her if you do.

Heck, that ain't nuttin, I'm fixing to ask these wise guys about heart surgery.

Smart move and the best one

So what does everyone think about Edward Jones in general?

I have this very persistent guy who calls me about every other month.

Great guy and I do like his tenacity. Just not sure about the dealings.

My wife is the expert at that, one of the students at her school once said she could do open heart surgery without the benefit of anesthesia. A smart "A" kid said she just grabs the heart, jerks it out of the body, explains the rules and puts it back.

Have him call me!

The one that retired is not consulting social media here. I doubt he asked snoopy to get advice on THF for him. Even more I doubt he would take anyone's advice here even if snoopy passed it on. It's just something to talk about is all.

They’re OK for most people but their load is high. Vanguard is really good.

thanks sniper john. its apparent snoopy has no money saved , so his only recourse is to dis someone who does. no problem, everyone has a voice here.

It was a fun thread. Thanks a bunch for posting Buzz..

I have a patient who is a LEO with DPD...he works a couple side gigs and does security, etc, whenever he can. Said he makes as much from those as his LEO salary. The only thing holding people back is themselves....

We use to operate a firework super store outside san Antonio. We had to have a cop on site from 9pm to midnight when we closed. Our cop charged $50/hour to do nothing.

Maybe ole brother in law enjoys his wife and kids a bit more than your friend does.

I discovered NSTRA soon after I retired. I traveled all over the states judging or trailing.

Yep. You get paid what your worth. If you don't think you're worth that why would someone pay you that. Don't like what you get paid, quit.

I started drawing social security at 62. Never had any regrets about that.

What's that got to do with this subject, how long will the money last?? You do have a nice looking dog.
And ,,,,

You are the one who wrote that I just sat around and looked at food ads. I was mostly replying to lifestyles.

I need to find something to do before I can't do anything..

Fiscal responsibly has nothing to do with how much you make but rather how much you spend.

Yeah that and policies prohibiting out of county side jobs.