Good day EarthShakinRaz.
Sheesh, another banner open for the market. I wonder how high it can go before everyone decides it's too good to be true and bails out? Morning, TD.
Don't know, but it's been quite the ride!
I got 1.2% on my liquid savings last year. I decided 6 months salary was too much liquid, so I dropped it to 3 months and moved more into the market on Dec 15. That's grown 6% since then, and at end of month I made us much in dividends on that money as I'd earned in interest on it past twelve months. Now I'm not even sure I should keep 3 months salary liquid. But that's what all the experts say to do.
Between you and Tony this has been a fascinating banter day.
I was about to post a photo of my empty wallet.
Yours is empty? Mine is full of moths where the money should be.
Yeah, yeah...I expect all you guys have a lot more assets than I do. I've been on the Banter longer than I've had any money invested other than my state retirement account. I'm a latecomer. And I had to break my leg to pay for it. I'm trying to make up for a lot of lost time.
Oh, yeah, I'm just...fooling with you guys. Definitely...
I've got twelve years to retirement at the state. I have a net worth of maybe $250k. I've got two kids in college which is probably going to cost me $150k before all is said and done. At current projections, assuming no major crises, social security doesn't go bankrupt, and no more than two moderate recessions, I'm looking at retiring on a state pension of about $2k a month and social security of about $2k a month, and if I'm lucky maybe $300k saved up and $300k in home equity by then. That makes me better off than most Americans, I'm told, but likely about a million short of ideal with very little margin for error or another Great Recession (which set me back about 38%).
Of course, if I get cancer or die on the motorcycle, then the wife will be a millionaire, so there's that.
