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How many of you are actually saving for retirement?
- Thread starter Braveheart82
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Hidden fees are hidden. They are not disclosed clearly and/or disclosed at all.
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very, very few will be able to save for retirement especially with most unable to even to even contribute to a savings account and those have actual retirement accounts are earning returns that are just about equal to the real inflation rate of about 4-5%. every decade the dollars loses about 25% of it's purchasing power.
many have to get used to the fact that consumption habits have to slow as you get older instead of "living it up" and being able to spend more as you age. wages for US workers in most sectors peak in the early 40's for women and late 40's for males.
many have to get used to the fact that consumption habits have to slow as you get older instead of "living it up" and being able to spend more as you age. wages for US workers in most sectors peak in the early 40's for women and late 40's for males.
Invest in gold and silver bullion.
Invest in gold and silver bullion.
I all most did this to back in 2005... I had 45k saved up and was either going to invest in gold or pay off debt and put into my car. Yeah i did the dumb thing and now have a fucking car with 60k in mods.
But.. Military TSP @ 120$ a month for 10 years, 15% of my IT job income goes into mutual fund and stocks my grandmother controls (she is a retired finance manager) then 100% of farming (loss right now) but every thing will go back into the farm. That is my retirement, on on getting large enough so I can sale it for a good amount for either land value for development or pass it on to kids to run but still be a partner for revenue.
Also a mistake I made for an investment was to purchase lake side land that I bought cheap and was estimated at one point to be 800k for a lot, but is now worthless because no one wants an empty lot. Didn't look into the cost of the fees to get water, electricity, and a road to the lot so its all most pointless with this economy. 6 years ago people were buying and building like crazy. Enconmy crashed no ones wants a lot with that much over head to put a house on any more.
Also a mistake I made for an investment was to purchase lake side land that I bought cheap and was estimated at one point to be 800k for a lot, but is now worthless because no one wants an empty lot. Didn't look into the cost of the fees to get water, electricity, and a road to the lot so its all most pointless with this economy. 6 years ago people were buying and building like crazy. Enconmy crashed no ones wants a lot with that much over head to put a house on any more.
to late for that. should have been on that train the early 2000's at the latest when it was $400 .oz now it's still a tad under $1800 .oz
HeavyLifter
Registered
I've been saving since I was 19.... But it's from the military, when I first enlisted it didn't mean anything now with two kids and a husband it means a lot more
agree. the dollar will crash or become close to useless. hopefully then gold and silver will become legal tender once again.
It's not too late. Silver will lead. At least double price, with some forecasts to 200 dollars. Grain futures is another good investment.
Also follow tin, there is a global shortage with dwindling reserves and increasing demand due to substituting lead in many products.
I got a MSc in Mineral Economics Jew
It's not too late. Silver will lead. At least double price, with some forecasts to 200 dollars. Grain futures is another good investment.
Also follow tin, there is a global shortage with dwindling reserves and increasing demand due to substituting lead in many products.
I got a MSc in Mineral Economics Jew
did you invest in stainless steel during the housing boom?
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No I invested in nickel and iron ore mining stocks
I hear investing in brisket futures can be lucrative.
lovethislife
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Best thing to do is have cash in a hidden safe in your house. If the system crashes and you have all of your funds in a bank your fucked also one day cash will have worthless value we will go back to bartering for things so it's best to keep your options open and learn what you can.
HeavyLifter
Registered
I agree with this, I still have money in a savings and 401-k but I always have money stashed away for the "what if" moments.
If "the system" crashes, can we trade some of my cash for some of your tren?
you hold strong digital positions, I hold a strong hard cash position, who's gonna be sucking cawk for gear
Bro if the system crashes you might as well wipe your arse with your cash money.
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Many in Middle Class 'Guess' on Retirement Needs - NYTimes.com
[h=1]Many in Middle Class ?Guess? on Retirement Needs[/h] By ANN CARRNS
Three-fourths of middle-class Americans say their estimate of what they?ll need to live on in retirement is based on ?some sort of guess,? a new survey finds.
And those guesses often appear off the mark, according to the annual Wells Fargo Retirement Survey.
For instance, middle-class Americans say they believe the median cost of their out-of-pocket health care costs in retirement will be $47,000. But the Center for Retirement Research estimates a typical couple at age 65 can expect to spend $260,000 or more over the rest of their lives.
Further, when asked what percentage of their nest egg they expect to withdraw annually in retirement, the median ? or typical ? withdrawal predicted by middle-class Americans is 10 percent. But most experts recommend annual withdrawals of 3 to 4 percent.
In addition, middle-class Americans say they?ll need a median of $300,000 to support themselves in retirement ? but to date have saved only $25,000.
The survey also found that 34 percent of middle-class Americans estimate that their retirement income will be half their current annual income, or less. The median household income for Americans was roughly $50,000 last year, so that means many are planning on living on $25,000.
?Clearly, the guessing doesn?t work,? said Laurie Nordquist, a director of institutional retirement and trust services at Wells Fargo. The survey findings suggest that many consumers are too focused on paying day-to-day bills to spend more time on retirement planning, she said, even though that?s clearly warranted.
Harris Interactive Inc. conducted the telephone survey of 1,000 middle-class adults from July 9 through Sept. 12. To aim at the middle class, participants fell within specified income and wealth brackets. For example, those between the ages of 30 and 75 had 2011 household income of $50,000 to $99,999, and assets of $25,000 to $99,999 that could be invested.
Have you done detailed calculations of your financial needs in retirement, or are you, too, playing the guessing game?
[h=1]Many in Middle Class ?Guess? on Retirement Needs[/h] By ANN CARRNS
Three-fourths of middle-class Americans say their estimate of what they?ll need to live on in retirement is based on ?some sort of guess,? a new survey finds.
And those guesses often appear off the mark, according to the annual Wells Fargo Retirement Survey.
For instance, middle-class Americans say they believe the median cost of their out-of-pocket health care costs in retirement will be $47,000. But the Center for Retirement Research estimates a typical couple at age 65 can expect to spend $260,000 or more over the rest of their lives.
Further, when asked what percentage of their nest egg they expect to withdraw annually in retirement, the median ? or typical ? withdrawal predicted by middle-class Americans is 10 percent. But most experts recommend annual withdrawals of 3 to 4 percent.
In addition, middle-class Americans say they?ll need a median of $300,000 to support themselves in retirement ? but to date have saved only $25,000.
The survey also found that 34 percent of middle-class Americans estimate that their retirement income will be half their current annual income, or less. The median household income for Americans was roughly $50,000 last year, so that means many are planning on living on $25,000.
?Clearly, the guessing doesn?t work,? said Laurie Nordquist, a director of institutional retirement and trust services at Wells Fargo. The survey findings suggest that many consumers are too focused on paying day-to-day bills to spend more time on retirement planning, she said, even though that?s clearly warranted.
Harris Interactive Inc. conducted the telephone survey of 1,000 middle-class adults from July 9 through Sept. 12. To aim at the middle class, participants fell within specified income and wealth brackets. For example, those between the ages of 30 and 75 had 2011 household income of $50,000 to $99,999, and assets of $25,000 to $99,999 that could be invested.
Have you done detailed calculations of your financial needs in retirement, or are you, too, playing the guessing game?
300K for retirement? maybe if they are only planning in living a couple of years into it...that figure is way to low for two people and one also has to account for the loss of purchasing power of the dollar which is about 25% every decade.
the avg american has no concept of economics or the function of money/currency in reality....
the avg american has no concept of economics or the function of money/currency in reality....
I have 401K that 7% into and increase .5 -1% with each raise I get, ESPP that I'm on the max % allowed but that's an automatic 15% return on investment, IRA from previous companies 401K programs that I've rolled over into and I invest the max allowed per year, a rental home and I have a play fund that I do some trading with. I'm on track (if all goes well) to retire by 60 with 1.5M. Uggh 20 more years to go......
Maybe a year ago but not today. Re-look at post #38 and educate your self on 408(b)(2) disclosure regulations. All fees are required to be disclosed by law.
My post is still the same today.
My original post is still accurate.
You trust this people?
You trust a "regulation?" Don't.
These hidden fees are still going on - fact.
You seem adamant. Perhaps you have too much invested over the year and you're reluctant to get out.
My better half is a 401K anaylist. She is an expert on retirement IRS regs so I get to hear an hour of IRS rules and regs on my drive home from work daily when we car pool. The 408 b2 disclosure reg was a big deal in her industry. Many providers implemented it 6 months before the law required. She advises plan administrators and does testing for huge corporations. Her department has thousands of employees so this is a major player in retirement services. Some of the disclosures are in formulas so the average guy with a low IQ might not be able to calculate the fees but the formulas are provided and have to be by law. If a plan is out of compliance a participant can call the DOL to investigate. If there was a non compliance issue the DOL contacts the IRS and an audit will force the issue.
What hidden fees are you posting about?
Other then 401k I invest all my money to my kids right now...The more successful they are the more likely I can live with them and be the crazy old lady that never holds back her opinions...diarrhea of the mouth all day long!!!! Paybacks a b!tch! 
hehehe
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