Originally Posted by
stanace
What is your definition of "Don't need it" exactly? Lets say that I had a good job, worked all my life, always rented, and saved about $400,000. However I always enjoyed myself, played golf, ate out, had a company car.
Now I am retired I have no income, just the money in the bank. And have to buy a decent car.
My expenses are still food, rent, insurance(going up), am I now supposed to use up the money I saved until there is nothing left. That will take say 8-10 years. And then what do I do? Why should I suddenly have to reduce my standard of living as soon as I retire?
I haven't read the Robt. Jones item, but there are 2 salient points to Mr. Jones. 1. he cost me money, while he went quietly selling his shares, while pushing them. 2. What would he know about trying to retire on $400,000, and still have the same standard of living, the fraudster?