Comments on: How to Retire a Millionaire with $100 a Month http://www.americanconsumernews.com/2007/02/how-to-retire-a-millionaire-with-100-a-month.html Helping Smart Shoppers Save Sat, 20 Mar 2010 12:58:27 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Anonymous http://www.americanconsumernews.com/2007/02/how-to-retire-a-millionaire-with-100-a-month.html/comment-page-1#comment-234 Anonymous Fri, 23 Feb 2007 19:39:00 +0000 http://www.americanconsumernews.com/2007/02/how-to-retire-a-millionaire-with-100-a-month.html#comment-234 Regardless of realistic rate of return, I don't think it is crazy to demand/ask/require folks who want to retire in good shape to put away MUCH more than $100/month. Isn't $1200/year seem low? I am shooting for $15000 this year and even I have room for improvement. I amnot making AMAZING money either. I mean it's a start and all to save $100/month, but working individuals should make more than a sacrifice than that.<br/><br/>In 99.9% of the retirement related articles, 8-10% is the norm to "expect". Regardless of realistic rate of return, I don’t think it is crazy to demand/ask/require folks who want to retire in good shape to put away MUCH more than $100/month. Isn’t $1200/year seem low? I am shooting for $15000 this year and even I have room for improvement. I amnot making AMAZING money either. I mean it’s a start and all to save $100/month, but working individuals should make more than a sacrifice than that.

In 99.9% of the retirement related articles, 8-10% is the norm to “expect”.

]]> By: Steve Austin http://www.americanconsumernews.com/2007/02/how-to-retire-a-millionaire-with-100-a-month.html/comment-page-1#comment-233 Steve Austin Fri, 23 Feb 2007 18:10:00 +0000 http://www.americanconsumernews.com/2007/02/how-to-retire-a-millionaire-with-100-a-month.html#comment-233 Jeremy Siegel says long term average return on stocks (nominal, not real) is in the 8-9% range. None of us has any way of knowing whether the next 35 yrs will be a good period (above that average) or a poor period (below that average). But we do have the ability to look back at the previous 35 yrs (a good period) and see if anyone is in that 15% ballpark.<br/><br/>I think Buffett/Munger have done that (and better), but we won't have them for the next 35 yrs.<br/><br/>I have a question for ggreenblog and readers: what other money managers out there have a 35 yr record of 15% or better?<br/><br/>And I have one comment: politicians are flaky -- we can hope that they won't rewrite the tax laws so that Roth IRA withdrawals are no longer tax-free, but we can never be certain about that. Jeremy Siegel says long term average return on stocks (nominal, not real) is in the 8-9% range. None of us has any way of knowing whether the next 35 yrs will be a good period (above that average) or a poor period (below that average). But we do have the ability to look back at the previous 35 yrs (a good period) and see if anyone is in that 15% ballpark.

I think Buffett/Munger have done that (and better), but we won’t have them for the next 35 yrs.

I have a question for ggreenblog and readers: what other money managers out there have a 35 yr record of 15% or better?

And I have one comment: politicians are flaky — we can hope that they won’t rewrite the tax laws so that Roth IRA withdrawals are no longer tax-free, but we can never be certain about that.

]]> By: ggreenblog http://www.americanconsumernews.com/2007/02/how-to-retire-a-millionaire-with-100-a-month.html/comment-page-1#comment-223 ggreenblog Thu, 22 Feb 2007 15:54:00 +0000 http://www.americanconsumernews.com/2007/02/how-to-retire-a-millionaire-with-100-a-month.html#comment-223 If you actually took the time to read the article, you would have noticed that I stressed the importance of putting the money in a tax-advantageous account, such as a Roth IRA to avoid such taxes. <br/><br/>The point of this article was to show people how to have one million dollars upon retirement, of course we know that a million dollars won't have the same purchasing power as it does now, but it's still a million dollars, and that's what the goal of the article was.<br/><br/>I can't believe you would honestly say that you're just as likely to get struck by lightning as to earn a 15% average rate of return per year in the stock market. You'll be hit by lightning several times before you win the lottery, and if you actually do some looking around for good mutual funds, rather than just throw your hands in the air and say it can't be done, you will find mutual funds that have earned 15% over a long period of time, you even admitted that they exist.<br/><br/>Enough with your ad hominem attacks, get your facts straight. If you actually took the time to read the article, you would have noticed that I stressed the importance of putting the money in a tax-advantageous account, such as a Roth IRA to avoid such taxes.

The point of this article was to show people how to have one million dollars upon retirement, of course we know that a million dollars won’t have the same purchasing power as it does now, but it’s still a million dollars, and that’s what the goal of the article was.

I can’t believe you would honestly say that you’re just as likely to get struck by lightning as to earn a 15% average rate of return per year in the stock market. You’ll be hit by lightning several times before you win the lottery, and if you actually do some looking around for good mutual funds, rather than just throw your hands in the air and say it can’t be done, you will find mutual funds that have earned 15% over a long period of time, you even admitted that they exist.

Enough with your ad hominem attacks, get your facts straight.

]]> By: Ray http://www.americanconsumernews.com/2007/02/how-to-retire-a-millionaire-with-100-a-month.html/comment-page-1#comment-221 Ray Thu, 22 Feb 2007 13:13:00 +0000 http://www.americanconsumernews.com/2007/02/how-to-retire-a-millionaire-with-100-a-month.html#comment-221 I am beginning to think you live in fantasy land.<br/><br/>Sure there are mutual funds which have returned 15% over a specific period of time, but realistically after taxes and inflation 8% would be a above average return to try and make.<br/><br/>15% is something nobody would every say you could realistically achieve long term from a mutual fund.<br/><br/>The information you gave is about achieving those returns year over year is about as likely as winning the lottery.<br/><br/>Do you just make up stuff and post it on your blog because it sounds good? I am beginning to think you live in fantasy land.

Sure there are mutual funds which have returned 15% over a specific period of time, but realistically after taxes and inflation 8% would be a above average return to try and make.

15% is something nobody would every say you could realistically achieve long term from a mutual fund.

The information you gave is about achieving those returns year over year is about as likely as winning the lottery.

Do you just make up stuff and post it on your blog because it sounds good?

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