@Duke_Boi@BradBiggs My guess was that he wants a raise, and the Bears said no. So now he’s asking to be traded to a team that will extend his contract.
@MarkHannaBurner@BarbellFi Came here looking for this comment. The 529 account is incredible for your son, not tying to dismiss that. But the post is leading folks to believe that this is money to start his life after school is over.
Great work on the 529.
@malgorium@realMoneyDad@theficouple I’m 42 with $3.1M. If I’m being honest, I don’t feel concerned and know that whatever I end up with will be plenty, but there are a lot of life expenses still in front of me. I plan to fund college in full for both of my girls, pay for weddings, help them start lives w/houses
@fancypirate8@markallanbovair Yes, interest would be more, but anyone disciplined enough to invest that savings into the market for those 50 years would come out with SIGNIFICANTLY greater returns.
It’s unlikely that people would do this for 50 years, but this would be the way to go.
@ChadThurman10 @towerofshadow @BarbellFi This is just wrong. Year 1 you withdraw $80k.
$1,920,000 remains invested during that entire year. If it grows 10% ($192k), then you would have $2,112,000 after that first year and actually make money. Plenty of folks have more money several years into retirement due to gains.
@towerofshadow @BarbellFi Only if you leave the $2M sitting in a low rate checking/savings account, which would be foolish.
With the 4% rule, you can withdraw $80k per year and be fine. The remaining funds continue to grow while invested in the market.
@Aljarov@AUHansel@tombogert There’s no proof of that at all. TM isn’t even the primary ticketer of the World Cup so this isn’t even a possibility here.