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Old 05-26-2017, 09:13 AM
 
Location: Keller, TX
5,644 posts, read 4,902,469 times
Reputation: 4047

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World's Major Economies to Come up $400 Trillion Short on Retirement Savings

Quote:
Longer life spans and disappointing investment returns will help create a $400 trillion retirement-savings shortfall in about three decades, a figure more than five times the size of the global economy, according to a World Economic Forum report.
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Old 05-26-2017, 10:15 AM
 
3,793 posts, read 1,727,208 times
Reputation: 2155
Yep. In many cases what you plan on won't be there.
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Old 05-26-2017, 10:36 AM
 
Location: Cincinnati near
2,509 posts, read 3,353,735 times
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I am fighting to get to the point where my retirement income is 70% of my salary but I keep getting these huge raises, inflating my salary to the point where 70% just isn't feasible anymore.


Seriously, the summary for this article should be that mature economies cannot consistently achieve the growth of developing economies and some of the world's biggest economies will be significantly more developed by 2050.
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Old 05-26-2017, 01:04 PM
 
17,626 posts, read 12,218,187 times
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Quote:
Originally Posted by Chemistry_Guy View Post
I am fighting to get to the point where my retirement income is 70% of my salary but I keep getting these huge raises, inflating my salary to the point where 70% just isn't feasible anymore.


Seriously, the summary for this article should be that mature economies cannot consistently achieve the growth of developing economies and some of the world's biggest economies will be significantly more developed by 2050.
If you only spend 20% of your income there is no reason to target replacing 70% of your income. You need to revise your plan
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Old 05-26-2017, 04:18 PM
 
Location: WA
5,293 posts, read 20,709,725 times
Reputation: 5622
Up to about 100 years ago there was very little retirement savings... people kept working, leaned on family, church, and scrimped along on what they could get from friends and charities. Today we are short of what we should have but the world will not end.
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Old 05-26-2017, 04:27 PM
 
3,970 posts, read 1,599,172 times
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Well, whoever said you have a God-given right to retire?
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Old 05-26-2017, 04:28 PM
 
14,253 posts, read 14,745,676 times
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Quote:
Originally Posted by Lowexpectations View Post
If you only spend 20% of your income there is no reason to target replacing 70% of your income. You need to revise your plan
This ^^^^

When I began retirement planning, the starting point was a realistic estimate of what I needed not what I was earning.
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Old 05-26-2017, 04:29 PM
 
14,253 posts, read 14,745,676 times
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Quote:
Originally Posted by MinivanDriver View Post
Well, whoever said you have a God-given right to retire?
Yeah! I'm retired but I think that everyone else should keep working.
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Old 05-26-2017, 05:01 PM
 
Location: North Carolina
376 posts, read 189,504 times
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People spend too much time prioritizing what looks good today over what's best for them tomorrow.
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Old 05-26-2017, 07:33 PM
 
345 posts, read 149,592 times
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It seems to me that the problem isn't money, otherwise you'd just print more or transfer it from one person to another, but how many people in a population need to work. Just how many folks can a worker support going forward?

Last edited by Corerius; 05-26-2017 at 08:02 PM..
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