Posted on 03/06/2018 8:30:09 AM PST by C19fan
At this rate, retirement is more of a fantasy than a reality for many people in this country.
About 42 percent of Americans have less than $10,000 saved for when they retire, according to a study by GoBankingRates released Tuesday.
(Excerpt) Read more at cnbc.com ...
“I’ve got all the money I’ll ever need. As long as I don’t buy anything.”
-Jackie Mason
“I’ve got all the money I’ll ever need. As long as I don’t buy anything.”
-Jackie Mason
Please.... PLEASE try and take the money I worked hard for and sacrificed for my whole life so that I can retire comfortably. You will see hell on Earth from those of us RESPONSIBLE people who saw beyond our next paycheck and even though we really could have used the money now, saved it instead. They better have some damn good security details is all I have to say. You do NOT screw with what a man has worked and sacrificed for. If I can't retire on the terms that I created based on my own actions, then my whole career would be deemed useless and without purpose. For those who didn't have the foresight to save, I'm sorry, but that is entirely your own fault. I see it every day. Sadly, my daughter and son-in-law blow every dime they have on meaningless crap, eating out all the time, vacations, etc... and they don't have a single dime in retirement savings. At their age, they are in a better position than we were in terms of income. They're both 30 years old. What the hell do they think they're going to do? I have news for them, I plan on enjoying my retirement to the fullest with the plan that when I leave this world, there won't be a dime left to my name. If they think they're getting an inheritance, they better think again.
I think that’s a red line the Left would be wise not to cross.
Retirement sounds great, but how do I do that when I am forced to Support 20 Illegal Aliens?? WHat will happen to them If I retire??
I think it is more than 42% and I think it is a certainity
Hubby and I are in the same place. The only reason I’m still working is for our health insurance benefits. Otherwise, I’d be long gone.
Yep, my dad is still working in his 70’s, while friends of his who retired in their 50’s and 60’s are strugglig bad.
And why I pulled every cent out of my 401k.
Some may retire poor, and others may live so long that they outlive their savings. No guarantees!
Grandpa retired at 56. Dad retired at 53. I retired at 55. It CAN be done.
Live below your means.
Save, save, save.
Be as self-sufficient as you can.
Invest in tangible assets such as real estate, land & PMs.
Make every dollar, ‘work’ for you!
Work hard, but pay the LEAST amount of taxes, legally.
Don’t have more than 1 or 2 kids. (Better yet, none!)
Consider a military career: Paid for college, paid well, not all of your income is taxed, medical & dental care, little overhead for 20 years.
Save, save, save.
Live below your means.
Enjoy! :)
FYI, without a paid for home in a low property tax state, retirement is all but impossible for most. 100% Debt Free!
Yep. In Kentucky, property taxes are already in the basement, and once you turn 65, they are significantly lowered.
My current annual property taxes on 32 beautiful acres and a 10 year old house and large barn is one month’s Camry payment.
Retirement will begin for me when they close the lid and lower me down the hole.
We could retire in a couple of years and live comfortably if we didn’t have to worry about affording health insurance.
Hubby retired at 53. Me at 58. I’ve done my darnedest to spend. I spend and spend and spend on what I want. I’m not extravagant and look for bargains but I spend it. I’ve already told daughter that I’m trying to spend it all so that all that’s left is the house...and it’s paid for. If Hubby goes before me then I’ll even sell the house and move to someplace a lot smaller. She just laughs and says....go for it.
We also spend a lot on her and the grandkids now even though she doesn’t actually need it.
“100% Debt Free!”
Forgot to add that to my list. No debt. Pay cash along the way...for everything.
‘The hands of the diligent makes rich’ so goes the Biblical proverb. Fools and lazy no gooder socialists want it the opposite way and we have no shortage of fools in this nation. Eff the godless public schools.
My wife was an RN for a group of family practitioners.
She took advantage of their 401K program and maximized her 401 payroll contributions. She even took advantage of an Sep IRA with the doctor she worked for.
In the 3+ decades that she worked for the group, not a single other nurse, receptionist or nurse asst. took advantage of the program. They said they could not afford it.
Yet, they could afford to stop at Starbucks every morning for coffee and breakfast to go before they came to work.
She took her lunch to work, and the other women went out to lunch. She tried to point out to the younger workers, by forgoing Starbucks in the morning and bringing lunch, they could max out on their 401k’s
Now, the reality is hitting those women as they are in their 60s or near 60 with minimal or zero $’s in a 401k or IRA.
If they are still married, most of the husbands did the same not contributing to their 401k’s.
My wife started collecting SS at age 62 and worked out plans with her company to stay under the max $’ she could make without penalties. She worked until she was in her early 70’s and worked out deals after she was 65 to get paid for the cost of what her medical program would cost the corporation. She put that into her 401K which allowed a larger percent donation past age 65.
We took out lines of credits versus student loans. So we and our adult children are not faced with that problem.
Now, we are in the process of obtaining a Reverse Mortgage
to continue to live the house we love and with great neighbors.
When some people carp and say we are lucky, my wife say, “Yes, but God helps those who help themselves. He didn’t save and fund our 401k’s and IRAs, we did.”
Our adult sons do the same as their mother did. They get coffee at their offices or work places and bring their lunches. They maximize their 401 k’s and IRA’s.
There are a lot of idiots who would rather have a $60K bass boat than a secure retirement. All the money people spend on Chinese trinkets and electronic junk should have been invested instead.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.