Nice retirement for a sweet, humble, smart Wal Mart couple

[Mac1958]

Just initiated a 401K rollover for a very sweet couple, both aged 63. They both spent the last 17 or so years working at Wal Mart. Not in corporate, but in regular ol' stores. Stocking shelves, receiving, some management, you name it.

They said "we were just careful with our money, we never had to buy the newest stuff, we lived within our means and stayed humble with our money". That's their big secret.

Totals of their 401K's:
Husband: $287,729.57
Wife: $211,898.10

Separate Roth IRA's at Edward Jones:
Husband: $42,114.52
Wife: $43,001.58

Total retirement portfolio: $584,743.77

After our meeting today, they left for a week-long camping and fishing trip with friends, celebrating the start of their comfy retirement. Just bought a cool new red Honda four-wheel-type thing for the trip. They like driving through streams.

So long Wal Mart, hello striped bass.

.

Where was this and what was their salary at Wal-Mart?

Colorado. I don't know what their salaries were. Since they're retired I didn't ask.

She came from a divorce and had nothing when they got married.

.

 

[Mac1958]

My old Man was a stock broker and investment agent, they make around 7-10%

Uh, no.

Most firms will charge 0.8% to 1.6% annually, depending on the size of the account and services rendered. It's quite worth it for many to have someone handle their money at that cost. Hedge funds charge more and are not worth it over the last several years. And "stock brokers" really don't exist any more for the most part, thank goodness.

Look it up.

.

 

[Mac1958]

I don't need to beat the market, I'll just take what it gives me. Over the long haul that philosophy has been very rewarding for me.

Wow, good for you. Most individual investors just HAVE to "beat the market", chase returns and end up screwing it all up. Then they blame the market. Your attitude is perfect.

Here's a stat for you: The average "active investor" has managed only a 3.49% return, before taxes, over the last 20 years (DALBAR study), around a third of the S&P.

Stay steady and consistent and humble like the clients in the OP and you're great.

.

 

[Zander]

I don't need to beat the market, I'll just take what it gives me. Over the long haul that philosophy has been very rewarding for me.

Wow, good for you. Most individual investors just HAVE to "beat the market", chase returns and end up screwing it all up. Then they blame the market. Your attitude is perfect.

Here's a stat for you: The average "active investor" has managed only a 3.49% return, before taxes, over the last 20 years (DALBAR study), around a third of the S&P.

Stay steady and consistent and humble like the clients in the OP and you're great.

.

I agree with you 100%.

I read an article about "indexing" and bought the Vanguard 500 index fund in 1986 with $500. I just kept adding a few bucks to it every month. Then one day I realized I had a very LARGE sum of money. I hold a more diversified portfolio now, but the power of indexing can't be beat.

 

[Howey]

Just initiated a 401K rollover for a very sweet couple, both aged 63. They both spent the last 17 or so years working at Wal Mart. Not in corporate, but in regular ol' stores. Stocking shelves, receiving, some management, you name it.

They said "we were just careful with our money, we never had to buy the newest stuff, we lived within our means and stayed humble with our money". That's their big secret.

Totals of their 401K's:
Husband: $287,729.57
Wife: $211,898.10

Separate Roth IRA's at Edward Jones:
Husband: $42,114.52
Wife: $43,001.58

Total retirement portfolio: $584,743.77

After our meeting today, they left for a week-long camping and fishing trip with friends, celebrating the start of their comfy retirement. Just bought a cool new red Honda four-wheel-type thing for the trip. They like driving through streams.

So long Wal Mart, hello striped bass.

.

Where was this and what was their salary at Wal-Mart?

Colorado. I don't know what their salaries were. Since they're retired I didn't ask.

She came from a divorce and had nothing when they got married.

.

Ahhh....I see.

The money invested wasn't the money they earned at Wal-Mart.

 

[Howey]

Just initiated a 401K rollover for a very sweet couple, both aged 63. They both spent the last 17 or so years working at Wal Mart. Not in corporate, but in regular ol' stores. Stocking shelves, receiving, some management, you name it.

They said "we were just careful with our money, we never had to buy the newest stuff, we lived within our means and stayed humble with our money". That's their big secret.

Totals of their 401K's:
Husband: $287,729.57
Wife: $211,898.10

Separate Roth IRA's at Edward Jones:
Husband: $42,114.52
Wife: $43,001.58

Total retirement portfolio: $584,743.77

After our meeting today, they left for a week-long camping and fishing trip with friends, celebrating the start of their comfy retirement. Just bought a cool new red Honda four-wheel-type thing for the trip. They like driving through streams.

So long Wal Mart, hello striped bass.

.

Where was this and what was their salary at Wal-Mart?

More importantly, where did they work previously and what did they invest then?

It's so easy to see the dishonesty.

 

[EdwardBaiamonte]

Just initiated a 401K rollover for a very sweet couple, both aged 63. They both spent the last 17 or so years working at Wal Mart. Not in corporate, but in regular ol' stores. Stocking shelves, receiving, some management, you name it.

They said "we were just careful with our money, we never had to buy the newest stuff, we lived within our means and stayed humble with our money". That's their big secret.

Totals of their 401K's:
Husband: $287,729.57
Wife: $211,898.10

Separate Roth IRA's at Edward Jones:
Husband: $42,114.52
Wife: $43,001.58

Total retirement portfolio: $584,743.77

After our meeting today, they left for a week-long camping and fishing trip with friends, celebrating the start of their comfy retirement. Just bought a cool new red Honda four-wheel-type thing for the trip. They like driving through streams.

So long Wal Mart, hello striped bass.

.

Where was this and what was their salary at Wal-Mart?

Colorado. I don't know what their salaries were. Since they're retired I didn't ask.

She came from a divorce and had nothing when they got married.

.

Ahhh....I see.

The money invested wasn't the money they earned at Wal-Mart.

figure it out yourself, an average American would retire with $1.4 million on 15% of his lifetime earnings. Capitalism makes most Americans rich but then liberals steal the money and give them back dog food money for which , as brain dead liberals , they are oddly grateful!!

 

[Ravi]

How much did you make off of them?

Exactly none of your business.

What a weird question.

By the way, are you happy for them, that they were able to put that much away working at Wal Mart?

.

What evah, Is it something of an oddity to have saved money whilst working for Wal Mart? They would have made more if Wal Mart had not killed profit sharing....

Why is it a weird question? Financial planners for the most part are bottom feeders. Thanks for posting that they'll get more from SS though.

What a nasty comment.

And they won't get more from SS. They aren't drawing down on principal.

I'll try to be more PC in the future.

 

[Ravi]

Just initiated a 401K rollover for a very sweet couple, both aged 63. They both spent the last 17 or so years working at Wal Mart. Not in corporate, but in regular ol' stores. Stocking shelves, receiving, some management, you name it.

They said "we were just careful with our money, we never had to buy the newest stuff, we lived within our means and stayed humble with our money". That's their big secret.

Totals of their 401K's:
Husband: $287,729.57
Wife: $211,898.10

Separate Roth IRA's at Edward Jones:
Husband: $42,114.52
Wife: $43,001.58

Total retirement portfolio: $584,743.77

After our meeting today, they left for a week-long camping and fishing trip with friends, celebrating the start of their comfy retirement. Just bought a cool new red Honda four-wheel-type thing for the trip. They like driving through streams.

So long Wal Mart, hello striped bass.

.

Where was this and what was their salary at Wal-Mart?

More importantly, where did they work previously and what did they invest then?

It's so easy to see the dishonesty.

Yep.

 

[Mac1958]

Just initiated a 401K rollover for a very sweet couple, both aged 63. They both spent the last 17 or so years working at Wal Mart. Not in corporate, but in regular ol' stores. Stocking shelves, receiving, some management, you name it.

They said "we were just careful with our money, we never had to buy the newest stuff, we lived within our means and stayed humble with our money". That's their big secret.

Totals of their 401K's:
Husband: $287,729.57
Wife: $211,898.10

Separate Roth IRA's at Edward Jones:
Husband: $42,114.52
Wife: $43,001.58

Total retirement portfolio: $584,743.77

After our meeting today, they left for a week-long camping and fishing trip with friends, celebrating the start of their comfy retirement. Just bought a cool new red Honda four-wheel-type thing for the trip. They like driving through streams.

So long Wal Mart, hello striped bass.

.

Where was this and what was their salary at Wal-Mart?

Colorado. I don't know what their salaries were. Since they're retired I didn't ask.

She came from a divorce and had nothing when they got married.

.

Ahhh....I see.

The money invested wasn't the money they earned at Wal-Mart.

Of course it was, and they said so.

So we finally get what I was expecting. You folks just don't like this because it goes against your meme, so you try to discredit it. You draw conclusions based on pure ignorance because you don't want to believe something good about someone like this.

I have many clients who have done this, but I brought this one up specifically because they both worked at Wal Mart. I even asked them exactly what they did so that it didn't turn out they were in corporate or something.

You people are very transparent.

.

 

[Mac1958]

Just initiated a 401K rollover for a very sweet couple, both aged 63. They both spent the last 17 or so years working at Wal Mart. Not in corporate, but in regular ol' stores. Stocking shelves, receiving, some management, you name it.

They said "we were just careful with our money, we never had to buy the newest stuff, we lived within our means and stayed humble with our money". That's their big secret.

Totals of their 401K's:
Husband: $287,729.57
Wife: $211,898.10

Separate Roth IRA's at Edward Jones:
Husband: $42,114.52
Wife: $43,001.58

Total retirement portfolio: $584,743.77

After our meeting today, they left for a week-long camping and fishing trip with friends, celebrating the start of their comfy retirement. Just bought a cool new red Honda four-wheel-type thing for the trip. They like driving through streams.

So long Wal Mart, hello striped bass.

.

Where was this and what was their salary at Wal-Mart?

Colorado. I don't know what their salaries were. Since they're retired I didn't ask.

She came from a divorce and had nothing when they got married.

.

Ahhh....I see.

The money invested wasn't the money they earned at Wal-Mart.

figure it out yourself, an average American would retire with $1.4 million on 15% of his lifetime earnings. Capitalism makes most Americans rich but then liberals steal the money and give them back dog food money for which , as brain dead liberals , they are oddly grateful!!

Notice what they're doing.

This is just a nice couple who worked hard, stayed humble, put money away.

A couple of hardcore left wing partisan ideologues who don't want to believe that people can do this kind of thing for themselves with hard work and sacrifice don't like this thread. So they attack it, say it cannot be true. This just can't happen, they pretend.

Instead of being happy for the couple, they try to tear it down.

America, 2015. Sad to see, but this was predictable.

.

 

[Ravi]

My neighbor worked at Walmart for 15 years AFTER he had already made a enough money to pay off his mortgage (on a valuable piece of property). He just worked there for something to do and was able to put every penny earned into his savings.

Your average Walmart worker isn't going to have anything to look forward to aside from SS since they mostly live pay check to pay check.

 

[Skull Pilot]

Just initiated a 401K rollover for a very sweet couple, both aged 63. They both spent the last 17 or so years working at Wal Mart. Not in corporate, but in regular ol' stores. Stocking shelves, receiving, some management, you name it.

They said "we were just careful with our money, we never had to buy the newest stuff, we lived within our means and stayed humble with our money". That's their big secret.

Totals of their 401K's:
Husband: $287,729.57
Wife: $211,898.10

Separate Roth IRA's at Edward Jones:
Husband: $42,114.52
Wife: $43,001.58

Total retirement portfolio: $584,743.77

After our meeting today, they left for a week-long camping and fishing trip with friends, celebrating the start of their comfy retirement. Just bought a cool new red Honda four-wheel-type thing for the trip. They like driving through streams.

So long Wal Mart, hello striped bass.

.

seems like a lot of money but at todays interest rates how do you live on it?

You don't put it in the bank

You keep it in a conservative portfolio designed to average between 5 and 7% ROR

Easy rule of thumb

For every 150K you have invested at a 5% return you will get 12000 a year for 20 years

 

[Skull Pilot]

Just initiated a 401K rollover for a very sweet couple, both aged 63. They both spent the last 17 or so years working at Wal Mart. Not in corporate, but in regular ol' stores. Stocking shelves, receiving, some management, you name it.

They said "we were just careful with our money, we never had to buy the newest stuff, we lived within our means and stayed humble with our money". That's their big secret.

Totals of their 401K's:
Husband: $287,729.57
Wife: $211,898.10

Separate Roth IRA's at Edward Jones:
Husband: $42,114.52
Wife: $43,001.58

Total retirement portfolio: $584,743.77

After our meeting today, they left for a week-long camping and fishing trip with friends, celebrating the start of their comfy retirement. Just bought a cool new red Honda four-wheel-type thing for the trip. They like driving through streams.

So long Wal Mart, hello striped bass.

.

Don't forget to include whatever social security they will be getting

 

[Mac1958]

Just initiated a 401K rollover for a very sweet couple, both aged 63. They both spent the last 17 or so years working at Wal Mart. Not in corporate, but in regular ol' stores. Stocking shelves, receiving, some management, you name it.

They said "we were just careful with our money, we never had to buy the newest stuff, we lived within our means and stayed humble with our money". That's their big secret.

Totals of their 401K's:
Husband: $287,729.57
Wife: $211,898.10

Separate Roth IRA's at Edward Jones:
Husband: $42,114.52
Wife: $43,001.58

Total retirement portfolio: $584,743.77

After our meeting today, they left for a week-long camping and fishing trip with friends, celebrating the start of their comfy retirement. Just bought a cool new red Honda four-wheel-type thing for the trip. They like driving through streams.

So long Wal Mart, hello striped bass.

.

Don't forget to include whatever social security they will be getting

Yep, that's part of the income planning process, it's discussed in posts after that one.

.

 

[EdwardBaiamonte]

Notice what they're doing.
This is just a nice couple who worked hard, stayed humble, put money away.
.

Also, lets not forget that 95% of all the human beings who ever lived on this planet, as well as a huge % currently alive, would have loved the easy, safe, and long life this couple has. Walmart in not even a hard or stressful job. Capitalism has been a miracle that in a second transformed life on this planet.

 

[Andylusion]

My neighbor worked at Walmart for 15 years AFTER he had already made a enough money to pay off his mortgage (on a valuable piece of property). He just worked there for something to do and was able to put every penny earned into his savings.

Your average Walmart worker isn't going to have anything to look forward to aside from SS since they mostly live pay check to pay check.

Yeah............

That's true... but I would argue to you that it has nothing to do with Walmart, and everything to do with culture.

76 of Americans are living paycheck-to-paycheck - Jun. 24 2013

76% of all Americans live paycheck to paycheck.

Now think about that....

The median income is $50K. That means people earning upwards of $80K a year, are still living paycheck to paycheck.

That's not a Walmart problem. Walmart could double incomes, and people would still be living paycheck to paycheck.

Why? Because people spend everything they have, and then borrow more to buy more stuff, as long as they can "afford the payments".

Two examples.....

I was working at a small little shop near where I live, and there was a young guy there who had a wife, and she got pregnant, and suddenly they had 'house fever'. I offered him some unsolicited advice. I said, it's your first house, and you are still working on a degree, and you are in manufacturing which is always volatile. Buy the cheapest thing you can find that will meet your needs. Build up equity, and upgrade later. Babies take up very little space, and they just lay there. You have several years, and then you can upgrade.

He looked at me and said, no no no, everyone says you buy the biggest you can afford, and 'grow into the home'. He went with his plan, and bought a nice home. Very nice, but tight on the budget. Literally 4 to 5 months after signing the papers, the company announced a round of layoff, and I went to shake his hand and say goodbye on my way out the door, and he turned absolute pale white. I honestly didn't know before, that a pasty white guy, could turn that much paler and whiter.

Why? Because he was spending every dime in his budget, living right on the edge, and he knew if he lost this job, he'd be in foreclosure in 9 months.

Second....

I had a roomy for a year and a half. This chick was getting kicked out of her apartment. Evicted. She had no money, and no place to go. Now I've been there and done that, so I offered her my spare bedroom. Low flat rate, free utilities, and since at the time she had no job, I let her skip payment until she got a job.

Sure enough, she got a job, ironically at the same place I worked (although a different part of the building, and different shift).

Then..... things went downhill. She bought endless movies and DVDs. She bought stuff.... all kinds of stuff. Stuff I have no idea where it came from, or what purpose it was supposed to have. She bought magazines, toys, and all kinds of crap.

Now, just to be clear, I gave her permission to use specific rooms in the house, and she followed those rules. But.... she was always late with her payment.

Then her car broke down, and she had no money. Then this problem happened, and she had no money. Then that problem happened, and she had no money.

The final straw, was she had just lost the job she got at the place I worked, and so she was two months behind on rent.... but I came home, and she had spent most of her final paycheck, buying birthday presents for some kids in her extended family.

She managed for the entire 18 months plus that she was there with very cheap rent, to spend absolutely every single dime she earned, and she normally did it, every pay check. Check on Friday, flat broke by Thursday.

Now at the exact same time that this was going on, I was working at the same company, for the same pay, and I managed to pay off $5,000 worth of debt, AND save up $2,000 in the bank.

Everyone wants to believe that the problem in all society, is low pay.

It's the guttless, wimp out view. Why? Because if you blame "low wages" for all your problems, then you don't have to do anything. You don't have to change your habits. You don't have to *GASP* live on less than you make.

Blaming low pay, allows you to rationalize and excuse yourself from all your woes. But the fact is, it isn't the pay. The problem is in the mirror. The problem is those credit cards. The problem is that car you can't afford. The problem is that house, that's too much.

There's that dude the mirror, and he's blowing all your money, and until you beat the crap out of him, you'll never have money.

Michael Jackson earned nearly a Billion dollars in his life time. At the time of his death, he was on the verge of bankruptcy, and was selling off parts of never-land ranch. It's those greedy venue paying him that petty billion for his shows. If only they had paid him more, he could have retired I tell you......

It's not the wage. No minimum wage is going to fix this. It's a cultural problem.

 

[Zander]

Just initiated a 401K rollover for a very sweet couple, both aged 63. They both spent the last 17 or so years working at Wal Mart. Not in corporate, but in regular ol' stores. Stocking shelves, receiving, some management, you name it.

They said "we were just careful with our money, we never had to buy the newest stuff, we lived within our means and stayed humble with our money". That's their big secret.

Totals of their 401K's:
Husband: $287,729.57
Wife: $211,898.10

Separate Roth IRA's at Edward Jones:
Husband: $42,114.52
Wife: $43,001.58

Total retirement portfolio: $584,743.77

After our meeting today, they left for a week-long camping and fishing trip with friends, celebrating the start of their comfy retirement. Just bought a cool new red Honda four-wheel-type thing for the trip. They like driving through streams.

So long Wal Mart, hello striped bass.

.

Where was this and what was their salary at Wal-Mart?

Colorado. I don't know what their salaries were. Since they're retired I didn't ask.

She came from a divorce and had nothing when they got married.

.

Ahhh....I see.

The money invested wasn't the money they earned at Wal-Mart.

figure it out yourself, an average American would retire with $1.4 million on 15% of his lifetime earnings. Capitalism makes most Americans rich but then liberals steal the money and give them back dog food money for which , as brain dead liberals , they are oddly grateful!!

Notice what they're doing.

This is just a nice couple who worked hard, stayed humble, put money away.

A couple of hardcore left wing partisan ideologues who don't want to believe that people can do this kind of thing for themselves with hard work and sacrifice don't like this thread. So they attack it, say it cannot be true. This just can't happen, they pretend.

Instead of being happy for the couple, they try to tear it down.

America, 2015. Sad to see, but this was predictable.

.

Don't worry about those fools Mac!!

Some people are simply "LOSERS". Losers suck at life and are negative, needy c*nts who need a ready excuse for why "they can't"_______________
(fill in the blank- lose weight, save money, get a job etc..) They see others do it, and it pisses them off.

Facing the reality that your life is nothing but a reflection of your own effort and attitude is very hard to face. Losers can't or won't do "hard stuff".

It is way easier to blame others for your own failings.......

 

[Zander]

The secret to happiness is LBYM

LIVE BELOW YOUR MEANS!

 

[HenryBHough]

That so many who work at ordinary, not high-paying, jobs are able to put together substantial retirement resources in a sharp little pebble in every show adorning a liberal foot.

To make it worse, liberals understand they are incapable of tying their own shoes so won't take them off to ease the pain.

Instead they walk picket lines demanding government provide them with shoe-tying services.

But it's OK, it gives them some comfort.