Quote:
Originally Posted by fmzip
YTD I am at $400K. And here I was having a real hard time pulling the trigger on my M850i....
Curious, how did you pull this off? Did you finance it? At $3.5K gross, living expenses etc, seems unfathomable to me. Good for you either way.
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I didn’t write that I don’t have any money. I just don’t show any income. I am paying cash for my 850 convertible. Yes it is all legal and moral. My income at this point comes from rental properties after expenses, and a small pension from my first career as a police officer. We own everything but our solar panels. My car purchase is a result of saving up for many years to buy an airplane after retirement. Due to market conditions, that has become untenable to me and I have completely lost the desire to fly small aircraft. Decided I would blow the money on the perfect car.
Some food for thought as you reach retirement age.
One of the things you will discover is that it is not nearly as expensive to live as you forecast. AS LONG AS YOU HAVE YOUR HEALTH. The key is not having bad debt. Debt is fine as long as your investment funds are making more % than the debt cost you.
Bottom line. If you want the expensive country club membership or other like things after retirement? Start an account now during your working years to fund it after retirement.
The most important thing though is to maintain your health. I have been fortunate in this arena. I have always exercised and the benefits just like financial investment is paying its dividends.
One last note. I made big bucks the few years before retirement. There was thorns with that. My first year on Medicare, I payed over $700.00 a month because of high income penalties. Now I pay 0.00 for a Medicare advantage plan.