2MM $ Club

Said the typical mid-west transplant loser. Go back to the corn fields.

 

Ok

 

Hit $3M....retire from ABT in a few months. About time, I am old.

 

3M is not enough to be comfortable. Don’t spend unwisely. 5M should be goal.

 

Not true... $3MM is plenty, in fact, more than enough. This is addition to Social Security and pension. If you can't last 40-50 on that, you're doing something drastically wrong!!!

 

I am 62.5 years. I figure with $3M + pension + SSI wife and I will have (using the 3.0% rule) about $160K/yr.
I have no debt. So this may not be enough for some but enough for me to live very well. I don't need $5M....

 

Who are you kidding? You must be a short timer at Abbott just loaded with debt up to your ears. In my case, just like many others, I'm debt free, double pension & double Social Security (includes wife). With $3MM, I can live forever and still leave my kids a handsome some! What type of lifestyle do you lead?

 

I am in the club now....$2M. Well, if the market tanks I may fall behind again. Not bad, still have two more years to work. Just made 12 years at Abbott.

 

Acclumater of wealth, What was your position at Abbott Labs?

 

Abbott career 35 years, retired as a Senior Manager, doing exceptionally well. My wife also retired from Abbott after 25 years and a Senior Manager. Living the dream!

 

how about any recommendations for bottom feeders like us who are not at the C-level or even management positions. No options, just 401k. I'll be retiring when I go to my grave.

 

Nice try douche bag.

 

Depends on your age and how long you’ve been working. Close to retirement then low yield secure investments where your $$ safe. This market WILL tank at some point. Always does and always will. Y’all can take that to the bank. You’re not a bottom feeder, you’re part of the machine.

 

How about all of the red headed step children that were a part of the SJM acquisition??? We we had stock options at SJM.... Now, nothing at Abbott. The pension and medical coverage were dangled in front us all but we were bent over on that too. So far, I don't see the rainbows and unicorns that you speak of with Abbott.

 

See my post Neuro thread.Consider yourself lucky Abbott took over the SJM shitshow.

 

Low yield? If you want to make some real money, look into Canadian cannabis stocks. They have been on a tear and will continue to go up as the regulatory environment becomes more permissive in US. Take a look at CGC.

 

No need for jealousy, just continue to stick with the program and the nonsense, it's not always easy. But in the end, there truly is a pot of gold! Rome wasn't built in a day...

 

Simple. Spend less than you make, work hard to make more. What I did and with the help of stock options at several companies (which had value because of the hard work of many) I surpassed the $2M mark.

Considering that the average net worth in the US is about $200k, I did ok.

 

And..... You're full of shit!

 

Yes, maybe I am full of shit according to you. But it all worked because my accounts are full of money. Could live well for about 50 years with what I have.