How much is enough for retirement?

rvZA said:
With current world events, looming food shortages, collapsing economies, war, world order changes, all previous investing, savings, economic rules are out the window. People are in for a rude awakening. None of this is temporary. None of it is transitory. These events, inflation, increasing living costs will outlive anyone alive today.
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Look you are right, times are turmoil and lots of people are concerned.
But its not he first time and it wont be the last.
But remember that the 4% rule has been tested through very similar and even worse cycles, including world wars and market crashes. Our current situation in not unique and markets do move in cycles.
But to put some realistic numbers to it, most married debt free couples will be able to live on R30k a month.
This is in todays buying power.
If you have investable assets in the order or R9m, you can draw that level of income with a high probability of sustaining it for your life.
 
Splinter said:
tell me what you think I've missed :)
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Okay bucko. The part where I literally said he's into a doomsday scenario and I'm not. Hence my earlier advice re the rule of 300 or the 4% rule. And if his doomsday scenario plays out like he thinks it will, no amount of cash in the bank is saving his ass, or anyone else's. Was this not clear?
 
Maurice Kitching said:
Okay bucko. The part where I literally said he's into a doomsday scenario and I'm not. Hence my earlier advice re the rule of 300 or the 4% rule. And if his doomsday scenario plays out like he thinks it will, no amount of cash in the bank is saving his ass, or anyone else's. Was this not clear?
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Ok gecko, you literally said he might be right - you saying in the same sentence you are not into doomsday scenarios was also prefaced by a comment about who would be slaughtered? And then mentioning a guns, water and pumpkin seed scenario.

Early afternoon booze?
 
Splinter said:
Ok gecko, you literally said he might be right - you saying in the same sentence you are not into doomsday scenarios was also prefaced by a comment about who would be slaughtered? And then mentioning a guns, water and pumpkin seed scenario.

Early afternoon booze?
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Obduracy is not a good basis for argument. Neither is reading more than is meant into someone else's.
 
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Maurice Kitching said:
Obduracy is not a good basis for argument. Neither is reading more than is meant into someone else's.
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So why are being obdurate then? And I only read what you wrote - besides you contradicting yourself, there were 3 references to a possible doomsday scenario, intertwined with your one disclaimer you are not into such :)
 
I think I posted this at least 4 times already. I will mix up the wording to keep it fresh. Different article, same topic.

I have nothing. My plan is to continue the proud tradition as that of my male forefathers, who all died either before or for the latest in their sixties. Therefore, I need a maximum of 4 years savings (highly doubt that).

So yeah, not worried at all. It is you long lived folks that need to worry about your quality of life.
 
Splinter said:
So why are being obdurate then? And I only read what you wrote - besides you contradicting yourself, there were 3 references to a possible doomsday scenario, intertwined with your one disclaimer you are not into such :)
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You really are tedious. In Afrikaans there is a saying: Goeie begrip het net n halwe woord nodig. Hope I got that right. So this guy came up with a figure of R35m in a savings account no less. I alerted him to the fact that some basic rules of thumb would point in a different direction.

His retort was that the world is in a precarious situation and that what is happening now will change the world forever. Your doomsday scenario. Regardless of what you may believe, anything can actually happen. And yes, however unlikely, he may be right. This is not an endorsement. In the Twitter world you kids live in it seems that every nod given means you pledge allegiance. This is basic theory. In the case of him being right and everything goes to hell in a handbasket, the guns, water, seed scenario unfolds. This is in fact a tip of the hat to Simon Brown, a regular Moneyweb contributor with his own show. It's a term that he used regularly in a joking fashion when referring to exactly the kind of doomsday scenario painted by the poster. I've heard it most on his personal finance podcast that he used to do with Kristia van Heerden. Sure some members here will be able to edify you.

My reference to the first to be slaughtered is just a dig at the soy boys, because you know, I can. And I don't like soy boys.

All it would have taken to understand this would be some insight, a tiny frame of reference and the ability to sometimes admit that you're wrong about your assumptions. Have a great weekend. Maybe check out The Fat Wallet Show on justonelap.com. Great show and lots to learn.
 
Maurice Kitching said:
You really are tedious. In Afrikaans there is a saying: Goeie begrip het net n halwe woord nodig. Hope I got that right. So this guy came up with a figure of R35m in a savings account no less. I alerted him to the fact that some basic rules of thumb would point in a different direction.

His retort was that the world is in a precarious situation and that what is happening now will change the world forever. Your doomsday scenario. Regardless of what you may believe, anything can actually happen. And yes, however unlikely, he may be right. This is not an endorsement. In the Twitter world you kids live in it seems that every nod given means you pledge allegiance. This is basic theory. In the case of him being right and everything goes to hell in a handbasket, the guns, water, seed scenario unfolds. This is in fact a tip of the hat to Simon Brown, a regular Moneyweb contributor with his own show. It's a term that he used regularly in a joking fashion when referring to exactly the kind of doomsday scenario painted by the poster. I've heard it most on his personal finance podcast that he used to do with Kristia van Heerden. Sure some members here will be able to edify you.

My reference to the first to be slaughtered is just a dig at the soy boys, because you know, I can. And I don't like soy boys.

All it would have taken to understand this would be some insight, a tiny frame of reference and the ability to sometimes admit that you're wrong about your assumptions. Have a great weekend. Maybe check out The Fat Wallet Show on justonelap.com. Great show and lots to learn.
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You should not bother with him, he is one of the few forum members that is on my ignore list.
 
Maurice Kitching said:
You really are tedious. In Afrikaans there is a saying: Goeie begrip het net n halwe woord nodig. Hope I got that right. So this guy came up with a figure of R35m in a savings account no less. I alerted him to the fact that some basic rules of thumb would point in a different direction.

His retort was that the world is in a precarious situation and that what is happening now will change the world forever. Your doomsday scenario. Regardless of what you may believe, anything can actually happen. And yes, however unlikely, he may be right. This is not an endorsement. In the Twitter world you kids live in it seems that every nod given means you pledge allegiance. This is basic theory. In the case of him being right and everything goes to hell in a handbasket, the guns, water, seed scenario unfolds. This is in fact a tip of the hat to Simon Brown, a regular Moneyweb contributor with his own show. It's a term that he used regularly in a joking fashion when referring to exactly the kind of doomsday scenario painted by the poster. I've heard it most on his personal finance podcast that he used to do with Kristia van Heerden. Sure some members here will be able to edify you.

My reference to the first to be slaughtered is just a dig at the soy boys, because you know, I can. And I don't like soy boys.

All it would have taken to understand this would be some insight, a tiny frame of reference and the ability to sometimes admit that you're wrong about your assumptions. Have a great weekend. Maybe check out The Fat Wallet Show on justonelap.com. Great show and lots to learn.
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So rsva is trans?
 
rh1 said:
I think I posted this at least 4 times already. I will mix up the wording to keep it fresh. Different article, same topic.

I have nothing. My plan is to continue the proud tradition as that of my male forefathers, who all died either before or for the latest in their sixties. Therefore, I need a maximum of 4 years savings (highly doubt that).

So yeah, not worried at all. It is you long lived folks that need to worry about your quality of life.
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You might be unlucky and live till 90
 
rh1 said:
You should not bother with him, he is one of the few forum members that is on my ignore list.
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Thanks for the heads-up. I rarely engage, but try to engage with respect and honesty. Not a fan of bad faith arguments though. I feel it excludes you from the conversation by default.
 
rh1 said:
You do know life is about choices, no way I am hanging around till I need a nappy.
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Lol, rather amusing.
I would however humbly suggest that you do plan for a possible scenario where you outlive your forefathers.
Hoping to die young is not really a financial strategy.
Take it or leave it, no disrespect intended.
 
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BuckRogers said:
Lol, rather amusing.
I would however humbly suggest that you do plan for a possible scenario where you outlive your forefathers.
Hoping to die young is not really a financial strategy.
Take it or leave it, no disrespect intended.
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Not hoping like I said, will not wait/hang around if I cannot have decent qaulity of life.
 
Maurice Kitching said:
You really are tedious. In Afrikaans there is a saying: Goeie begrip het net n halwe woord nodig. Hope I got that right. So this guy came up with a figure of R35m in a savings account no less. I alerted him to the fact that some basic rules of thumb would point in a different direction.

His retort was that the world is in a precarious situation and that what is happening now will change the world forever. Your doomsday scenario. Regardless of what you may believe, anything can actually happen. And yes, however unlikely, he may be right. This is not an endorsement. In the Twitter world you kids live in it seems that every nod given means you pledge allegiance. This is basic theory. In the case of him being right and everything goes to hell in a handbasket, the guns, water, seed scenario unfolds. This is in fact a tip of the hat to Simon Brown, a regular Moneyweb contributor with his own show. It's a term that he used regularly in a joking fashion when referring to exactly the kind of doomsday scenario painted by the poster. I've heard it most on his personal finance podcast that he used to do with Kristia van Heerden. Sure some members here will be able to edify you.

My reference to the first to be slaughtered is just a dig at the soy boys, because you know, I can. And I don't like soy boys.

All it would have taken to understand this would be some insight, a tiny frame of reference and the ability to sometimes admit that you're wrong about your assumptions. Have a great weekend. Maybe check out The Fat Wallet Show on justonelap.com. Great show and lots to learn.
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Tl;dr

Truly.
 
I don't plan on living long after my retirement. Paid up house, paid up car... And 10 mil will do me okay. I don't want the proverbial best life after retirement. I'm living it now. I just need to buy two more properties as rental investments in the next two to three years
 
wireddreams said:
I don't plan on living long after my retirement. Paid up house, paid up car... And 10 mil will do me okay. I don't want the proverbial best life after retirement. I'm living it now. I just need to buy two more properties as rental investments in the next two to three years
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That is a good target.
Very very few in this country will accumulate that amount. You will be in the top 1% if you can achieve it, sadly.
 
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