How many of you are actually saving for retirement?

[Braveheart82]

I read in a CNN article a couple weeks back that 49% aren't saving ANYTHING for retirement. That's freaking scary. Will old people be living in the streets 40 years from now? I just have a Roth and I max it out. When I pay off my student loans and cc debt, then I'll open up a taxable and invest some more. Need to start when you're young. How many of you are actually saving for retirement?

 

[hoyle21]

I was putting 20% in a 401k that my company matched, but had to cut back this year. I'll increase it again as soon as I can.

 

[Curt James]

Have two 401k equivalents courtesy of the school district, but my longterm plan is to ride my motorcycle off a cliff when I reach the end of my rope, say age 120 or so.

 

[LAM]

I read in a CNN article a couple weeks back that 49% aren't saving ANYTHING for retirement. That's freaking scary. Will old people be living in the streets 40 years from now? I just have a Roth and I max it out. When I pay off my student loans and cc debt, then I'll open up a taxable and invest some more. Need to start when you're young. How many of you are actually saving for retirement?

that's 50% of the babyboomers alone, there are more than that with zero as those in the lower income quintile save less than .01% of their annual income, they don't make enough to save. boomers totally fucked themselves when they pulled all that equity out of their homes to fuel consumption during the late 90's and early 2000's. they are leading the country in bankruptcy's from the housing asset bubble burst.

I moved most of my assets out of the US long ago, can earn from 10-15% in many country's. savers in the US are getting so fucked over with banking paying less than 1% APR on accounts and real inflation is closer to 4-5% a year. right now US workers/taxpayers are paying interest to bondholders which are the same people that caused the financial crisis. talk about getting fucked in the ass with out a reach around...

 

[NVRBDR]

My wife and I have been investing/saving for retirement for years... I will probably never retire, I enjoy working, I just work a lot less these days

 

[BFHammer]

Savers are losers with taxes and inflation. Buy rental property and get cash flow now instead of hoping and praying Obama bin Biden doesn't nationalize your 401k to pay for his half billion dollar vote buying to ACORN

 

[LAM]

Savers are losers with taxes and inflation. Buy rental property and get cash flow now instead of hoping and praying Obama bin Biden doesn't nationalize your 401k to pay for his half billion dollar vote buying to ACORN

and how exactly does voter registration turn into votes in the electoral college? can you explain that process?

 

[Big Smoothy]

I read in a CNN article a couple weeks back that 49% aren't saving ANYTHING for retirement. That's freaking scary. Will old people be living in the streets 40 years from now? I just have a Roth and I max it out. When I pay off my student loans and cc debt, then I'll open up a taxable and invest some more. Need to start when you're young. How many of you are actually saving for retirement?

I am not saving for retirement, I am saving for old age and medical issues.

Why am I not saving for retirement? Because the concept of retirement is over.

We will work until:

1. we die

or,

2. we are too old physically or mentally to work (provided we are hired in our 70s and 80s).

I do try to save for old age.

 

[BFHammer]

and how exactly does voter registration turn into votes in the electoral college? can you explain that process?

If your to dense to figure out voting multiple times on fraudulent absentee ballots, multiple voting, and hundreds of thousands of your illegals voting there really isn't any explanation that can help you.

You democrats need an ID for your welfare checks yet don't think you should have to show one for voting who can dole out billions to his cronies.

 

[NVRBDR]

Savers are losers with taxes and inflation. Buy rental property and get cash flow now instead of hoping and praying Obama bin Biden doesn't nationalize your 401k to pay for his half billion dollar vote buying to ACORN

If a person doesn't save, his buying power is limited. Cash is a strong position to be in, especially in these days when investment property owners credit purchasing power is in a strangle hold for the most part. CASH is buying power now. That being said, I agree, real estate investment properties can be very profitable(I have been in this business for years), experience has taught me to have my eggs in several baskets, and to stay proportionately balanced in what you own.

 

[heavyiron]

Yup, always contribute to our 401K's.

However not sure I want to retire. I like working.

 

[ctr10]

I have a 401K, IRA and a pension

 

[OMEGAx]

I intend to Kill 1 or 2 people on my way out..............

 

[Iron8]

that's 50% of the babyboomers alone, there are more than that with zero as those in the lower income quintile save less than .01% of their annual income, they don't make enough to save. boomers totally fucked themselves when they pulled all that equity out of their homes to fuel consumption during the late 90's and early 2000's. they are leading the country in bankruptcy's from the housing asset bubble burst.

I moved most of my assets out of the US long ago, can earn from 10-15% in many country's. savers in the US are getting so fucked over with banking paying less than 1% APR on accounts and real inflation is closer to 4-5% a year. right now US workers/taxpayers are paying interest to bondholders which are the same people that caused the financial crisis. talk about getting fucked in the ass with out a reach around...

Hopefully not to Greece:]

Yup, always contribute to our 401K's.

However not sure I want to retire. I like working.

Retirement will be fun for a while but I see it getting old. I don't have any studies or statistics on this but from what i've seen it seems guys who work late into life end up living longer.

 

[Arnold]

I don't ever expect to retire, I think I would be bored out of my mind if I were not busy working

 

[200+]

I have too many bills to invest into a 401k. Most people are in my situation. I have to lower my standard of living in order to invest, but there isnt much to lower...

 

[vicious 13]

I have a bitchin pension through the carpenters union right now trying to invest in properties for retirement

 

[Big Smoothy]

I used to pay into the 401K.

It's a disaster. A scam. It it only means your taxes are deferred. LOTS of HIDDEN FEES.

They can change the rules anytime.

I intentionally do NOT invest in a 401K and instead go into Index funds and precious metals.

 

[vicious 13]

401 k is a scam

 

[heckler7]

paycheck to paycheck. retirement was cool for my granparents, we had a good time in the summer when I was a child. Do companies still offer 401k? havent seen that in years

 

[LAM]

I used to pay into the 401K.

It's a disaster. A scam. It it only means your taxes are deferred. LOTS of HIDDEN FEES.

They can change the rules anytime.

I intentionally do NOT invest in a 401K and instead go into Index funds and precious metals.

taxes being deferred is the major part of the scam, it's one of the many "illusions" of free choice that are given to people. only about 1-3 americans are contributing to 401k's and the majority of the large firms and global 500's are located in the northern states. a large percentage of those workers that build enough for retirement move to the lower taxed , lower population southern states. along with them comes their retirement savings and savings being nothing more than delayed consumption then goes into the local economy's.

monies invested by the "average" worker in 401's aren't enough to retire on or even provide a sufficient amount of income for long maybe a couple of years.

401k's are just another method that wallstreet and the banks use the workers to generate profits for their non-working asses. returns are skewed by those on the high end and complex graphs and charts from investment firms look "impressive" to people as most have not a clue what they are looking at.

only 16% of US workers have guaranteed pension plans. I haven't read it yet but people say the book "The Great 401 (k) Hoax" sheds light on the whole scam. not many will be retiring in the US in the future.

 

[Zaphod]

I'm putting a modest amount into 401k. I'm also investing in guns and bullets. Either way I'll have the currency of the future.

 

[Zaphod]

Have two 401k equivalents courtesy of the school district, but my longterm plan is to ride my motorcycle off a cliff when I reach the end of my rope, say age 120 or so.

I may not be riding my motorcycle off a cliff but I do plan on touring the country most of my retirement time. Touring by motorcycle, that is.

 

[heavyiron]

I used to pay into the 401K.

It's a disaster. A scam. It it only means your taxes are deferred. LOTS of HIDDEN FEES.

They can change the rules anytime.

I intentionally do NOT invest in a 401K and instead go into Index funds and precious metals.

Not always. You can invest after tax dollars in many 401K plans. Roth 401K's are becomming pretty common. Another one is interestingly enough called an after tax 401K.

My wife currently invests soley in a Roth 401K.

 

[OfficerFarva]

I'm saving up to buy one of these. I just don't know where I want to store it, at home or in a bank vault.

 

[heavyiron]

I used to pay into the 401K.

It's a disaster. A scam. It it only means your taxes are deferred. LOTS of HIDDEN FEES.

They can change the rules anytime.

I intentionally do NOT invest in a 401K and instead go into Index funds and precious metals.

Oh, also there are no hidden fees anymore. New regs about 2 yeears ago made employer disclosure of fees a law and this year employee fees MUST be disclosed by law.

 

[LAM]

fees for some state pension plans and 401k's are freaking ridiculous. one example is the Wisconsin state pension funds which gets charged 300M a year to have those assets managed.

 

[Big Smoothy]

Oh, also there are no hidden fees anymore. New regs about 2 yeears ago made employer disclosure of fees a law and this year employee fees MUST be disclosed by law.

If it covers all of those previous hidden fees and it transparent that's good - no, that is what should be done.

I am still skeptical.

There were - and I think may still be - the fees that are disclosed but do not reveal how much money you are losing over decades.

 

[Big Smoothy]

Not always. You can invest after tax dollars in many 401K plans. Roth 401K's are becomming pretty common. Another one is interestingly enough called an after tax 401K.

My wife currently invests soley in a Roth 401K.

I have a traditional IRA from the 1990s and also a ROTH IRA - they both are bad.

Remember, Congress can change the rules on you at anytime.

 

[heavyiron]

fees for some state pension plans and 401k's are freaking ridiculous. one example is the Wisconsin state pension funds which gets charged 300M a year to have those assets managed.

401K plan fees can vary greatly. Some are pretty low, usually bigger plans with more participants. My better half has hers through a large insurance company she works for. They also test plans to see if they are meeting IRS regs.

With employer matching its a no brainer. I have averaged about 115% returns per year on my money since 2008. My plan matches contrbutions dollar for dollar. My wifes plan also does matching but its less than mine.