Anybody else not care about retirement savings? (dispute, bankrupt, definition)
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Make that three of us, the same page is getting crowded.
Quote:
Originally Posted by GrandviewGloria
Now, people's IRAs are being wiped out. This, after the value of their stocks evaporated.
What exactly did they do to have their IRA wiped out?
Seriously, what exactly would someone have to have done to have a wiped out IRA, anyone consistently DCAing into broad index funds is about to back where they were before the **** hit the fan. Who are these people? What stocks do they have?
I only know one way someone has "wiped out" their retirement account: they withdraw the funds. For some, even with the penalties, the temptation is too large.
I guess you could have an IRA brokerage account then throw all your retirement funds into buying stock of a company that has gone breasts inclined in the last two years. However one can do that in the best of times too, so it certainly wouldn't be some indicator of the impossibility of retiring unique to any single time frame and I doubt it is indicative of savings failure on a large sampling of potential retirees.
I am guessing you are very young. Trust me, there will be a time in your life when you wish you'd saved. Start now, and save what you can. Life can last a very long time, and you will not always be able to work.
I'm with the OP. There is plenty of other things you can do without saving for 40 years into the future. That is just straight up irrational too me. I'm 25 and I should shove some of my money now so I can live well 40 years from now...really? I do not think whatever savings I'll get via interest and tax cuts will equal anywhere near inflation over FORTY F'N years. I also think the world is going to be a completely different place when I'm old. And hell, most of my family dies in their early 70's. I'm suppose to save up so I can enjoy my last years with most likely poor health? Plenty of other investments one can do without putting their money in a time capsule to be opened 40 years in the future!!! You don't get rich thinking that far into the future. I like doing short term investments, 1-4 year investments. Something I can see and pull out when I want too. Then I can use it a few days later.
if your really going to match risk to time frame a 1-4 year time frame leaves little room for much . unless you want to specuate and not really invest anything with decent long term gains becomes a spin of the roullette wheel in such a short period of time.
i dont even recommend stocks without a 15 year time frame.it takes that long to pretty much guarantee you will be up. i used to say 10 but now its more like 15.
1-4 years is typically bonds, unless you catch interest rates right there wont be much in the way of gains there.
I used to be obessed about saving money for a long time. Not anymore. Im happy about changing my ways and spend my money like no tommorrow without going into debt
hope you got a good pension or other source of income for when the pay checks stop... you wont enjoy spending money if you got none.. boy do we get thirsty when that well runs dry. of course there is always social security if you can live on it but if not throw in a mix of dumpster diving too.
as for my own plans , i intend to live a better life once early retired then i did our working years .not that we didnt enjoy those years too but i made sure that the future was funded too no matter what. now with an early retirement in place that i can take anytime i want im ready for phase ii of our lives.
if your really going to match risk to time frame a 1-4 year time frame leaves little room for much . unless you want to specuate and not really invest anything with decent long term gains becomes a spin of the roullette wheel in such a short period of time.
i dont even recommend stocks without a 15 year time frame.it takes that long to pretty much guarantee you will be up. i used to say 10 but now its more like 15.
1-4 years is typically bonds, unless you catch interest rates right there wont be much in the way of gains there.
Its really not. If you are picky with stocks, like I am then there is definite room for growth in a 3 year span. 15 years is a long time. My income should be ALOT bigger in 15 years so making say 20% on an investment over 15 years just isn't worth it.
I couldn't imagine not saving anything at all for retirement but to each his own. Saving for retirement does not mean you can't enjoy your life. I still plan to go on vacations and go shopping. I'm in my mid 20's and I don't think my generation can really count on Social Security when we get old.
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