Retirement Targets
- Thread starter yowza
- Start date
I'll do the same. Possibly political, but also part of the retirement picture.
But I don't think any of us need a political pissing match here
Keep $4 million. Make thousands of others happy with your gift of $1 million to each of them.
I’d be ok with the billions. Create jobs, boost charitable work, all on investments that generate the income to do so in perpetuity. I don’t need a lot to be happy so for me, it would be about creating opportunities for others on this gift and giving me more freedom to pursue my other passions.
Still not interested, but I would applaud you if you were to do that. The scale of that is more than I’m interested in.
Consider this…you could give 100,000 people a million dollars. That’s probably just about every household in the Des Moines metro. If you gave 1% of your net worth to ISU, you would double the ISU endowment. More stunning than that, keep all the money…one year of dividends if your money was in the S&P 500 would more than double that endowment.
You could fund the entire current athletic department with .1% of your net worth.
Again, I think the scale is just unfathomable. You would struggle to get rid of it.
Warren Buffett Has Now Given Record $48 Billion To Charity
As part of his annual summer gift, the legendary investor and world's leading philanthropist has donated another $4 billion of shares of his conglomerate Berkshire Hathaway.
www.forbes.com
"But Berkshire’s soaring stock is making it hard for Buffett to make good on his pledge—he’s still worth more than twice what he was 16 years ago."
It is almost impossible to give away all your money when you reach billionaire status. Between the due diligence of causes, time it takes to orchestrate such transactions, and manage your everyday life and responsibilities...
It makes sense. It really is a remarkable amount of money. I know averages don’t work on a daily basis, but if his money generated an average return (and it’s Buffett…so he does better). He would have to give away $20 million every day…just to keep it from growing.Warren Buffett Has Now Given Record $48 Billion To Charity
As part of his annual summer gift, the legendary investor and world's leading philanthropist has donated another $4 billion of shares of his conglomerate Berkshire Hathaway.
"But Berkshire’s soaring stock is making it hard for Buffett to make good on his pledge—he’s still worth more than twice what he was 16 years ago."
It is almost impossible to give away all your money when you reach billionaire status. Between the due diligence of causes, time it takes to orchestrate such transactions, and manage your everyday life and responsibilities...
I’m sure I could keep going…but I’ll stop.
And then have tens of thousands more pissed at you for not giving them money . . . . you know it would happen.
Everyone has their own habits and plans, but I'm trying to make sure to enjoy life before health issues arise.
So many issues in my family and friends in their 40s-70s+: death, cancer, bad backs/hips/knees/eyes, strokes, etc. I don't want to save all this money and then be too old/disabled to travel and enjoy life in my 70s. and beyond.
what's that cliche? "When you're young you wish you had more money and when you're old you wish you had more time?"
Hopefully I can retire by 60 and be broke by 80. My kids can fend for themselves.
So many issues in my family and friends in their 40s-70s+: death, cancer, bad backs/hips/knees/eyes, strokes, etc. I don't want to save all this money and then be too old/disabled to travel and enjoy life in my 70s. and beyond.
what's that cliche? "When you're young you wish you had more money and when you're old you wish you had more time?"
Hopefully I can retire by 60 and be broke by 80. My kids can fend for themselves.
Warren Buffett Has Now Given Record $48 Billion To Charity
As part of his annual summer gift, the legendary investor and world's leading philanthropist has donated another $4 billion of shares of his conglomerate Berkshire Hathaway.
"But Berkshire’s soaring stock is making it hard for Buffett to make good on his pledge—he’s still worth more than twice what he was 16 years ago."
It is almost impossible to give away all your money when you reach billionaire status. Between the due diligence of causes, time it takes to orchestrate such transactions, and manage your everyday life and responsibilities...
MacKenzie Scott is having a really nice go at it.
Most of her wealth is in AMZN stock, which is down 40% since the COVID peaks. That has cut into her wealth A LOT more than giving
I’m not sure if you’re completely missing the point. She may the most generous person on the planet. She actually is giving away billions, without any sort of effort. I don’t think billionaires actually want to give away their wealth, they just say they do. She’s actually doing it.
Having a family office is better than the B&M Gates Foundation.. They had over $2B in "profit" for 2020 and paid execs millions rather than giving it away.
Mackenzie Scott is the closest thing we have to a truly charitable billionaire.. But she isn't giving it away without effort... She just doesn't have 50 overpaid execs making $1M+ at her foundation..
Yield Giving
Established by MacKenzie Scott to share a financial fortune created through the effort of countless people, Yield is named after a belief in adding value…
She received $38B in the divorce and has given away ~$14B. If AMZN stock followed the S&P 500, that settlement would be worth about $57B, instead of the $43B it is today (imagine if AMZN paid a dividend). Forbes says she is worth $27B today.. So if you added in the $14B of underperformance by AMZN, she'd be worth ~$41B (57-14), even after giving away $14B in ~4 years.. That's a $3B net gain showing her loss in wealth is mainly thanks to AMZN being a BIG underperformer than her net worth is falling.
True, but most of the billionaires did exactly that, hold a few stock that perform very well, and stay along for the ride. Index funds are the way to lessen risk, but your are never going to make millions off an index fund, which is the goal of many.
I have dreams of winning a billion dollar lottery, lump sum after taxes and using a lot of that money to bring industry, jobs, infrastructure and business to my dying home town, where I haven't lived for at least 35 years. Probably not a very good business model because that town is down to less than 500 people right now with no school
67 is mandatory retirement at my company. That's my plan. That's a ways off for me and while I could retire now, have no desire to. I enjoy working and want to give as much back to my company as I can.
My secret to success has always been living below my means, saving as much as possible and trying to keep life simple.
There is a lot of good advice in this thread. Don't sweat the details and take time to enjoy life with family and friends. The people I see who have the most regrets are the ones who never made time to do those simple things.
