Given the size of X and other voting blocks, one can see a future POTUS talking UBI for all.

infinity ag said:

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torrid said:

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Any Gen X'er that started saving for retirement as soon as they got their first job out of school, and I mean putting enough into their 401k to get the full match, should be sitting on a nice little nest egg at this point.

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I am doing exactly that for my kids. They don't even know it. I created IRA, Trading and Roth IRAs for both of my kids and put in whatever money they get as gifts, earning into that. They don't get to take it out. Once they become more aware, I show them what they have and they can manage from then on. I never had a backup to take risks as I was always worried about repercussions. If you have financial security, you can take a lot of risk and get the reward also.
My son is 21, he is projected to become hit $1Million by age 26-27. And he won't even know it.

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While this is great, what stops him from misusing his wealth? He can pay off anyone and any organization. He will be the ruler of America and of the world.

I have a 401k with not as much money as I wish was in there, but I spent quite a few years raising 9 kids, so I was limited to what I could put in there.

HOWEVER, I have a pension from my last company (aerospace and defense was good for that) and a pension from where I work now (it's in the TRS system). PLUS, I'm contributing to my 403b here.

Just with my pensions, I should have close to $73K/yr.

Then, my GF will have a pension of about $42K/yr from her years teaching and coaching (swimming).

So, we'll have about $115K/yr coming in WITHOUT touching any of our investment/retirement savings.

House will be paid off, although we have thoughts about selling it since we do live on N Padre Island and it's worth a LOT more than what I bought it for.

And depending how I feel, I may do some consulting work in my current field after I retire.

We have plans to buy a place somewhere in the Caribbean (possibly Sint Maarten where we're currently vacationing) for part of the year living, then maybe another place somewhere in TX where we can go to see kids and grandkids (10 kids, 22 grandkids).

SS is not part of either of our retirement plans. I've always assumed it either wouldn't be there, or I'd get means tested out of it. But, if it IS there, we will be taking it early at 62 (she and I both have our 40 quarters) and setting up a hookers and blow account that we check in mid-January. That will let us know exactly how much **** off money we have for the year. If we both get what is supposed to be coming to us, then it'll be something like $45-50K year IIRC.

I did the math and the break even point between taking it early and taking it at 67 is something like 11-12 years or so after 67 (IIRC). But, that doesn't account any growth that might happen if I don't piss away the entire H&B account every year.

We are both early Gen X.

Buy an rv park. #retired

5Amp said:

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But Elon say everything will be free and no one will have to work.

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so when all the Robots and AI govern our lives

where does the money come from for a "universal basic income" communist payment scheme?

the robots pay taxes to other robots running the IRS?