Comments on: Debunking 13 Retirement Myths, Part 1 http://www.consumerismcommentary.com/debunking-13-retirement-myths-part-1/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Mon, 13 Feb 2012 01:22:47 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: rachel http://www.consumerismcommentary.com/debunking-13-retirement-myths-part-1/comment-page-1/#comment-121208 rachel Mon, 22 Oct 2007 15:15:40 +0000 http://www.consumerismcommentary.com/2007/10/15/debunking-13-retirement-myths-part-1/#comment-121208 My husband and I have no debt and we own our home. But, you are right I wouldn't talk about being debt free. My husband and I have no debt and we own our home. But, you are right I wouldn’t talk about being debt free.

]]> By: Jon http://www.consumerismcommentary.com/debunking-13-retirement-myths-part-1/comment-page-1/#comment-120567 Jon Fri, 19 Oct 2007 13:38:24 +0000 http://www.consumerismcommentary.com/2007/10/15/debunking-13-retirement-myths-part-1/#comment-120567 Re Myth #4, at least you don't pay Social Security/FICA tax on investment income, so getting $40k/year is like getting $43k/year at your job or $47k/year if you're self-employed. Also, if you can structure your income as long-term capital gains rather than interest/dividends, then your income tax would be reduced as well. Re Myth #4, at least you don’t pay Social Security/FICA tax on investment income, so getting $40k/year is like getting $43k/year at your job or $47k/year if you’re self-employed.

Also, if you can structure your income as long-term capital gains rather than interest/dividends, then your income tax would be reduced as well.

]]> By: Regret http://www.consumerismcommentary.com/debunking-13-retirement-myths-part-1/comment-page-1/#comment-119738 Regret Wed, 17 Oct 2007 20:00:14 +0000 http://www.consumerismcommentary.com/2007/10/15/debunking-13-retirement-myths-part-1/#comment-119738 "Myth #4: …a million dollars now might provide $40,000 a year for the rest of my life." Actually, if you are a male and were to retire at age 65 today, your $1 million could be used to purchase an immediate annuity (single life) for approx. $6,720 per month or approximately $80,640 per year (grabbed from immediateannuity.com). If you wish to keep the principal intact for your heirs, I agree with your $40k estimate, but that’s a choice, not a requirement. “Myth #4: …a million dollars now might provide $40,000 a year for the rest of my life.”

Actually, if you are a male and were to retire at age 65 today, your $1 million could be used to purchase an immediate annuity (single life) for approx. $6,720 per month or approximately $80,640 per year (grabbed from immediateannuity.com). If you wish to keep the principal intact for your heirs, I agree with your $40k estimate, but that’s a choice, not a requirement.

]]> By: plonkee http://www.consumerismcommentary.com/debunking-13-retirement-myths-part-1/comment-page-1/#comment-119623 plonkee Tue, 16 Oct 2007 21:12:53 +0000 http://www.consumerismcommentary.com/2007/10/15/debunking-13-retirement-myths-part-1/#comment-119623 I think that as far as Social Security type programmes are concerned, all we need to do is blackmail younger generation into paying in when its our turn to get money out. I think that as far as Social Security type programmes are concerned, all we need to do is blackmail younger generation into paying in when its our turn to get money out.

]]> By: James Woolley http://www.consumerismcommentary.com/debunking-13-retirement-myths-part-1/comment-page-1/#comment-119556 James Woolley Tue, 16 Oct 2007 13:31:42 +0000 http://www.consumerismcommentary.com/2007/10/15/debunking-13-retirement-myths-part-1/#comment-119556 Great article that raises some interesting points. I started saving in my early 20's, and think everyone should be saving from an early age, but the cost of living is so high nowadays that a lot of people are going to be in trouble come retirement age and I agree $1m will not be enough in the future. Great article that raises some interesting points. I started saving in my early 20′s, and think everyone should be saving from an early age, but the cost of living is so high nowadays that a lot of people are going to be in trouble come retirement age and I agree $1m will not be enough in the future.

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