Posted on 12/17/2004 12:15:42 PM PST by Constitutionalist Conservative
Yep...they don't care, because it doesn't come out of THEIR retirement funds! LOL
LOL ;^)
Of course, we do not know how long we will live; but Ben is basically saying you may want a pile of money in the bank; not when you die; but when you retire. . .so you won't wish you were dead. . .instead.
And of course; he is giving a high side and low side of possibillities - you surely can choose somewhere inbetween to float your boat. . .or tow it.
. . .and don't forget to 'diversify'. . .
Where did I say seniors are thieves and what government programs did I say are "OK"?
My wife had that much. She put 6% in an a 401(k) with 3% employer match and then put 10% of take home into an IRA until she hit the max contribution.
Do you need to scrimp and forgoe luxuries you want? Yes. Sacrafice is needed but pays off large dividends.
One of the easiest sacrafices to make but often over looked is in the choice of car. My wife has been pestering me to get myself a new mini-van for several years. She wants us to get a new Chrysler T&C. I will not do it. I will continue to drive my paid for, 225,000 mile 1991 Toyota Previa. The amount of money saved each month just in not having a car payment allows for the reduction of other debts and reduces the possibility of needing to add other debts.
And in 10 months her car will be paid off freeing up another $289 a month for faster debt reduction and increased savings.
I have this to say, Joe's pizza sucked.
bump
That's an incentive IMHO :)
Government should "incentivize" retirement savings by giving tax credits (unlike an IRA which is just a deduction) and have tax free withdrawals (like a ROTH) and anything not used passes without estate tax if that is or os not eliminated in 2012.
Yes, but in regardes to a "government incentive" I see it as meaning "do this and we will provide this" or in the case that is far to common, "do this or we won't do this."
Interesting. I guess I will be able to manage. It just is a bit mind-boggling, since I won't exactly be raking in the dough as a teacher. But, I will manage even though I will be scrimping for some time.
I agree with you about the car. I am just driving my parent's truck right now. I will have to get a car sooner or later, so I am planning on that next year. But, virtually all money is going into college, so I figure I better wait. And once I get a car, get one that is cheap enough the payments won't be exhausting since I will have to worry about student loans anyway. I may have to get an off-campus job next year though...the campus job doesn't pay very much.
Oh well. Thanks for the input.
So they keep on renting. If they had only but a $300 a month car instead they would be buying that house they wanted.
Until maintanence costs become a car payment every month or driving the car is unsafe, a beater is the way to go.
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