Inflation…
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"And you all laughed at me when i suggested you need 10mill to retire."
We still are laughing because sweeping statements like the above are pointless. Here are a few questions that will decide the number (and then you take into account inflation)
What kind of financial obligations do you have? Are your assets (primarily your residence) paid off?
Do you have expensive habits that you can't/won't shake off?
What kind of money were you making while working?
Do you plan to indulge in post retirement travel/golf etc.,?
Do you have children that still needs your support?
What is your health outlook?
So you can see, throwing around a random figure is completely meaningless and asinine.
- 50 is the new 5.
We laughed because the history of the value of the dollar suggests that there's no wrong answer...just a wrong time. At some point, people will need $100M to retire. The question is, is that 5 years from now or 50? In any case, people don't retire with a stack of cash, so presuming one invests well they should be able to keep pace with a good amount of inflation. Don't get be wrong, high inflation is horrible for most retirees, but that's mainly because they are often dependant on SS, which does not keep up with inflation. This is why you need to save for retirement folks. Never assume the gov is going to save you.
California is, $100 is the new five
And you all laughed at me when i suggested you need 10mill to retire.
CS and other exec are rewarded for expense control, earning millions. Hence, minimal or no raises. Read the proxy. It's all there. Vote your shares.
Charlie's just using war siege tactics, just provide 1% wage increases and he'll starve a chunk of us out.
Just last week I've spent 20 bucks for 4 ba--s of ice cream. It felt like being mugged...