September 23, 20223 yr Just now, Boogyman said: How much do you have saved for retirement (total if you have multiple accounts) and how old are you? How long have you had you current job? Oh now you want to break this down, huh? Yeah ok, here how much
September 23, 20223 yr 1 minute ago, Mike31mt said: Maybe your little friends will rush to your defense again today, better hope ao because if I focus my energy on you those will turn to real tears and then you wont be able to cook and clean Yeah I'm over here crying over this delicious omelet while you start your workday.
September 23, 20223 yr Just now, Mike31mt said: Oh now you want to break this down, huh? Yeah ok, here how much Yeah, you showing us how you balance you budget just eviscerated me.
September 23, 20223 yr 1 minute ago, EaglesRocker97 said: He's still going Retardmike is going to work till the day he dies lmao.
September 23, 20223 yr 32 minutes ago, Mike31mt said: And youre a functional **** that is literally triggered by all of my posts because of your serious neurosis In fact most of you have this condition and its sad If you literally added up his salary from his entire career as a senator, without factoring in taxes or living expenses, the grand total is only $3.7M So no, morons cant just throw around "compounded interest" and "investments" and think youre making some good point because it was a very stupid point. You dont become a millionaire from an average salary of $102k over 37 years. I know you all have reflexively defend this dumbarse because of TDS but it doesnt add up, not living in DC and paying high taxes and living expenses. The statement was dumb and thats why me and others laughed at it. Alright look here Sling Blade, this is what I want you to do... I know math is really hard for you, but we're gonna get through this together, okay? Stop to ask questions if you ever start to feel overwhelmed or if the room starts spinning. Ok, so go open up excel, and start a spreadsheet. In column A, you're gonna put the year starting from when he was elected to the senate, in column B, the annual salary for a senator in ever year from when he started until 2008. In column C, you're gonna enter a formula (cell in column B * tax rate) to figure out his net pay after taxes (use 30% or whatever your little heart desires). In column D, you're gonna take a percentage of his net pay and use it as the basis for annual contributions to an investment account, modestly speaking, let's go with 20%. In column E, you're gonna total up each years accumulating contributions and also multiply it by the annualized returns of the stock market since he became a senator (hint: it's just north of 10% for the S&P index.) Now duplicate in your first row for all futures rows, and you'll see the magic come to life before your very eyes! Quote Edit:. Arent you a pretend engineer too? I guarantee I make more than you do.
September 23, 20223 yr 10 minutes ago, Boogyman said: Retardmike is going to work till the day he dies lmao. Maybe I should rely on my wife to be the breadwinner, thats the ticket
September 23, 20223 yr 33 minutes ago, Mike31mt said: Note how that includes his VP years plus some, which is literally not the point Im making at all Can any of you read or does TDS affect that too? Go read my original posts you clowns Good point, Mike, I definitely didn't address your original post on the topic. Here it is: On 9/20/2022 at 9:00 PM, Mike31mt said: Lol
September 23, 20223 yr 35 minutes ago, EaglesRocker97 said: He's still going This seriously might be the dumbest argument ever.
September 23, 20223 yr 31 minutes ago, Mike31mt said: Yeah I do. You all think someone making like $48k in 1973 can just put some money into a magical investment account and all of a sudden they are millionaires after a few years Do the math dumbarses, no it is not easy to become a millionaire if you became a senator in 1973. Just stop this bull ish, youre only arguing because I trigger you My Dad is technically a millionaire. In 1973 he was still a freshman in high school. Never went to college. Built his FIRST house in 1981 on 7 acres of land for a total mortgage of ~$27,000. Paid that house off in less than 10 years while only making around $40-50k a year through the eighties. Kept the first house, bought a 150 acre farm with a house on it while renting out the first house. Averaged $70-80k a year through the nineties. He didn’t break the 6 digit salary until around 2002-2003. Built another house in 2014, when he paid off the farm with house. The 150 acre farm with a house on it is now worth close to a million by itself… that’s not including his newest house, which is also paid off now, and 40 years of retirement savings. He retired in 2016. Less than a year ago, he sold the first house from 1981 that only cost him $27k, that he paid off in less than 10 years, then collected rent from for about 25 years for $235,000. If Joe Biden wasn’t a millionaire after making over $100k a year since 1991, he would be as dumb and worthless as you.
September 23, 20223 yr 5 minutes ago, we_gotta_believe said: Alright look here Sling Blade, this is what I want you to do... I know math is really hard for you, but we're gonna get through this together, okay? Stop to ask questions if you ever start to feel overwhelmed or if the room starts spinning. Ok, so go open up excel, and start a spreadsheet. In column A, you're gonna put the year starting from when he was elected to the senate, in column B, the annual salary for a senator in ever year from when he started until 2008. In column C, you're gonna enter a formula (cell in column B * tax rate) to figure out his net pay after taxes (use 30% or whatever your little heart desires). In column D, you're gonna take a percentage of his net pay and use it as the basis for annual contributions to an investment account, modestly speaking, let's go with 20%. In column E, you're gonna total up each years accumulating contributions and also multiply it by the annualized returns of the stock market since he became a senator (hint: it's just north of 10% for the S&P index.) Now duplicate in your first row for all futures rows, and you'll see the magic come to life before your very eyes! I did do the math you nitwit. He averaged a salary of $102k over 37 years. You forgot living expenses in your little diatribe. I doubt he could have put away 20% of his roughly $50k average salary over the first 20 years of his career. Lets pretend he never ate, paid rent, or bought anything at all, Ill take out 30% of his take home pay for those costs (for normal people who require food and housing its usually more). But accounting for taxes and modest living expenses his total take home pay over 37 years is less than $850k. His career contributions would be less than $170k over a 37 year period. Also, I love how you guys are now going from "its so easy to become a millionaire senator" to "maybe over his entire career he could have a retirement savings of a million dollars". Thats not the same as being a f'ing millionaire. Jesus. Just admit you guys misread my post. Im not talking about his VP speaking fees or book deals, Im talking about the original statement that he "easily" became a millionaire on his senators salary. No, he did not.
September 23, 20223 yr 37 minutes ago, Mike31mt said: Maybe I should rely on my wife to be the breadwinner, thats the ticket I gUaRaNteE mY WiFe MaKeS MoRe ThaN YoU AnD YoUr WiFe CoMbINeD....
September 23, 20223 yr 1 hour ago, Mike31mt said: I did do the math you nitwit. He averaged a salary of $102k over 37 years. You forgot living expenses in your little diatribe. I doubt he could have put away 20% of his roughly $50k average salary over the first 20 years of his career. No I literally accounted for them by allocating 80% of his net pay for it. And it's 20% of his net pay, you illiterate rube, but even so, shall we use 15%? What's a good number, Michael? Quote Lets pretend he never ate, paid rent, or bought anything at all, Ill take out 30% of his take home pay for those costs (for normal people who require food and housing its usually more). But accounting for taxes and modest living expenses his total take home pay over 37 years is less than $850k. His career contributions would be less than $170k over a 37 year period. Also, I love how you guys are now going from "its so easy to become a millionaire senator" to "maybe over his entire career he could have a retirement savings of a million dollars". Thats not the same as being a f'ing millionaire. Jesus. Just admit you guys misread my post. Im not talking about his VP speaking fees or book deals, Im talking about the original statement that he "easily" became a millionaire on his senators salary. No, he did not. You can't be this stupid and lazy. Not even you. It takes 3 minutes to enter these numbers into Excel.
September 23, 20223 yr 10 minutes ago, MidMoFo said: My Dad is technically a millionaire. In 1973 he was still a freshman in high school. Never went to college. Built his FIRST house in 1981 on 7 acres of land for a total mortgage of ~$27,000. Paid that house off in less than 10 years while only making around $40-50k a year through the eighties. Kept the first house, bought a 150 acre farm with a house on it while renting out the first house. Averaged $70-80k a year through the nineties. He didn’t break the 6 digit salary until around 2002-2003. Built another house in 2014, when he paid off the farm with house. The 150 acre farm with a house on it is now worth close to a million by itself… that’s not including his newest house, which is also paid off now, and 40 years of retirement savings. He retired in 2016. Less than a year ago, he sold the first house from 1981 that only cost him $27k, that he paid off in less than 10 years, then collected rent from for about 25 years for $235,000. If Joe Biden wasn’t a millionaire after making over $100k a year since 1991, he would be as dumb and worthless as you. I have over 1.5 Million for retirement after 25 years of working in a chemical plant. It just takes discipline and sticking to your plan no matter what.
September 23, 20223 yr I guess it makes sense that someone from WV doesn't know what an appreciating asset is.
September 23, 20223 yr 8 minutes ago, we_gotta_believe said: @Mike31mt Spoon-feeding you like an infant Yeah, but that doesn't address Mike's original post On 9/20/2022 at 9:00 PM, Mike31mt said: Lol
September 23, 20223 yr 12 minutes ago, we_gotta_believe said: @Mike31mt Spoon-feeding you like an infant It's crazy how those numbers keep going up by more and more the further down the list you go. Its almost magical!
September 23, 20223 yr 5 minutes ago, Boogyman said: It's crazy how those numbers keep going up by more and more the further down the list you go. Its almost magical!
September 23, 20223 yr 2 hours ago, Mike31mt said: And youre a functional **** that is literally triggered by all of my posts because of your serious neurosis In fact most of you have this condition and its sad If you literally added up his salary from his entire career as a senator, without factoring in taxes or living expenses, the grand total is only $3.7M So no, morons cant just throw around "compounded interest" and "investments" and think youre making some good point because it was a very stupid point. You dont become a millionaire from an average salary of $102k over 37 years. I know you all have reflexively defend this dumbarse because of TDS but it doesnt add up, not living in DC and paying high taxes and living expenses. The statement was dumb and thats why me and others laughed at it. Edit:. Arent you a pretend engineer too? I guarantee I make more than you do. Dude, my dad started working in 1970 and retired in 2004. He started at like 12k per year, and when he retired he was making probably ~120k. And he retired a multi-millionaire. And he paid for both me and my brother to go to Penn with no loans. You're just wrong here.
September 23, 20223 yr 2 hours ago, Mike31mt said: Hilarious a Biden voter talking inflation. Sit this one out grandpa 2 hours ago, Boogyman said: I think we should all take this as a no, he doesnt understand. Mike thinks his 60k in 2022 has more value than Biden's 48k in 1973
September 23, 20223 yr 2 hours ago, Mike31mt said: Yeah I do. You all think someone making like $48k in 1973 can just put some money into a magical investment account and all of a sudden they are millionaires after a few years Do the math dumbarses, no it is not easy to become a millionaire if you became a senator in 1973. Just stop this bull ish, youre only arguing because I trigger you This is stuff you should have learned in grade school.
September 23, 20223 yr I think I am dumber for having entered this thread. 6 minutes ago, Paul852 said: Mike thinks his 60k in 2022 has more value than Biden's 48k in 1973 Well, duh 60k > 48k 2022 > 1973 Checkmate.
September 23, 20223 yr 29 minutes ago, Paul852 said: This is stuff you should have learned in grade school. Not in a WV public school you don't.
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