Comments on: How do you stack up? http://7million7years.com/2009/07/27/how-do-you-stack-up/ How to make 7 million in 7 years ... Wed, 08 Feb 2012 08:33:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Mike Hunt http://7million7years.com/2009/07/27/how-do-you-stack-up/comment-page-1/#comment-3306 Mike Hunt Wed, 29 Jul 2009 10:52:08 +0000 http://7million7years.com/?p=2927#comment-3306 AJC, You got very lucky with your commercial RE appreciation. Excellent results and for sure you played it right, but I wouldn't bank on repeating that trick every 3 years.... not for a while anyway. Of course I'm looking to see if there are opportunities out there. As you calculated, it would be near impossible to save your way to $7 million, and with the Obama administration pushing for higher taxes it will be even harder for future generations.... -Mike AJC,

You got very lucky with your commercial RE appreciation. Excellent results and for sure you played it right, but I wouldn’t bank on repeating that trick every 3 years…. not for a while anyway. Of course I’m looking to see if there are opportunities out there.

As you calculated, it would be near impossible to save your way to $7 million, and with the Obama administration pushing for higher taxes it will be even harder for future generations….

-Mike

]]> By: Ryan http://7million7years.com/2009/07/27/how-do-you-stack-up/comment-page-1/#comment-3304 Ryan Tue, 28 Jul 2009 22:29:00 +0000 http://7million7years.com/?p=2927#comment-3304 Hi Adrian, obviously the calculator is useless for practical use. The question that occurred to me while reading this post was what do all of the people who follow this kind of terrible advice do when they think they can retire and then can't? I guess they either work longer than they wanted or sacrifice major aspects of the type of retirement they originally wanted. I'll take neither, thank you very much! In a related note, what are some things that you thought you would want/need to budget for in retirement that you ended up not needing? How about things that have come up that you wish you would have budgeted for? As always, great post! Thanks! Hi Adrian,

obviously the calculator is useless for practical use. The question that occurred to me while reading this post was what do all of the people who follow this kind of terrible advice do when they think they can retire and then can’t?

I guess they either work longer than they wanted or sacrifice major aspects of the type of retirement they originally wanted. I’ll take neither, thank you very much!

In a related note, what are some things that you thought you would want/need to budget for in retirement that you ended up not needing? How about things that have come up that you wish you would have budgeted for?

As always, great post! Thanks!

]]> By: Adrian http://7million7years.com/2009/07/27/how-do-you-stack-up/comment-page-1/#comment-3299 Adrian Mon, 27 Jul 2009 12:20:25 +0000 http://7million7years.com/?p=2927#comment-3299 @ TraineeInvestor - It never occurred to me to even check other numbers! One simply assumes the authority of CNN Money ;) I'd like to hear what other readers found ... @ TraineeInvestor – It never occurred to me to even check other numbers! One simply assumes the authority of CNN Money ;)

I’d like to hear what other readers found …

]]> By: traineeinvestor http://7million7years.com/2009/07/27/how-do-you-stack-up/comment-page-1/#comment-3298 traineeinvestor Mon, 27 Jul 2009 10:23:47 +0000 http://7million7years.com/?p=2927#comment-3298 I'm not sure how useful that calculator is. The "age" number is not useful (at least not to me) as it does not take into account forward looking objectives (number, time to reach number etc) or even historical financial circumstances. The "income" number is well....I get the same median number for all incomes from $150,000 to $10 million or more. I do not accept that people earning $10 million a year have the same median net worth are people earning $150K a year. Your approach to working towards achieving a number in a given time frame is more useful. I’m not sure how useful that calculator is.

The “age” number is not useful (at least not to me) as it does not take into account forward looking objectives (number, time to reach number etc) or even historical financial circumstances.

The “income” number is well….I get the same median number for all incomes from $150,000 to $10 million or more. I do not accept that people earning $10 million a year have the same median net worth are people earning $150K a year.

Your approach to working towards achieving a number in a given time frame is more useful.

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