250 thousand dollar retirement - Democratic Underground

emc

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Tue Mar-22-05 10:32 PM
Original message

250 thousand dollar retirement

I heard that Bush was talking in NM that after you put aside your share of retirement and let the government invest it for you, that after some 30 years you would have 250,000 dollars to retire on...My question is how in the hell can anyone retire on 250,000 these days---and he even suggested you could live off the interest that 250,000 would yield...why in the hell dosent he try to retire with 250,000 in the bank...shit, that wouldnt even cover his barbeque's in a year.

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xray s

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Tue Mar-22-05 10:36 PM
Response to Original message

1. $250,000 in 30 years is worth a lot less than $250,000 today

If you think retiring today and making $250,000 stretch for 20 or 30 years, wait until 30 years of Bush inflation kicks in.

$250,000 might cover your medical expenses. For a year.

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SemiCharmedQuark

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Tue Mar-22-05 10:38 PM
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2. Well I guess if you retire at 90...

Although that one woman is 125 years old and still kicking, so then you'd be in trouble.

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Democrats_win

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Tue Mar-22-05 10:39 PM
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3. 225K is based on HIGHEST historical average rate of return of 7.5%

This ponzi scheme will actually end up with everything being lost as bubble that Bush's scheme creates pops.

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mcscajun

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Tue Mar-22-05 10:47 PM
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4. Well obviously he means a 'working retirement'

You take the interest from that quarter million investment and add it to your income from running a register at Wal-Mart. And you get to shop there, too. At Discount.

Pah!

This is right up there with Poppy's ignorance about the ways and means of shopping in supermarkets and prices there.

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