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View Poll Results: how much money?
more than 500K? 25 75.76%
less than 350K? 5 15.15%
more than 150k? 0 0%
less than 50k? 3 9.09%
Voters: 33. You may not vote on this poll

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Old 04-07-2015, 02:00 AM
 
71,463 posts, read 71,652,652 times
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retiring in july and quite satisfied with things. i i met my lifetime goals i set as best as i could and have a world of retirement options open to us now as a reward..

our biggest help's to meeting those goals were luck in our investing . luck played a part as much as skill. nerves of steel at times to have the discipline to make the deals we did , lastly marriage . being married to a wonderful wife who had contacts who were people that were some of the most famous and the greatest real estate investors in the country helped us investing wise .

her income while not that much still provided just enough income so i could save a good portion of my own and deploy it..

what i can't say was ever a factor was frugal living as we didn't live above our means but we didn't deny ourselves much either in the process.

each one of our stories of retirement success will take a different road .

Last edited by mathjak107; 04-07-2015 at 02:13 AM..
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Old 04-07-2015, 05:24 AM
 
Location: Backwoods of Maine
7,110 posts, read 8,145,682 times
Reputation: 18741
Quote:
Originally Posted by mathjak107 View Post
each one of our stories of retirement success will take a different road .
Quite true.

One of the advantages of starting and growing your own business is not just employment security, but retirement $$$. I sold my business when I retired, but the young guys who bought it could not afford it, so I now own many shares in my former business (from which I derive income) plus medical insurance as an employee, for myself and wife, as long as we live. The premium is very low. I also get other employee perks.

This is in addition to a retirement account, an annuity, SS for myself and wife, plus her pension. We are very happy with the way things have worked out. We have no mortgage, and no debt. This is not because we are stinkin' rich (we're not), but because we have lived our lives very frugally, and never did go into debt. If we could not afford to pay cash for it, we didn't buy it. Not many feel that way today, but it pays off.
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Old 04-07-2015, 06:18 AM
Status: "Finally Retired" (set 6 days ago)
 
Location: Tucson, AZ
362 posts, read 333,813 times
Reputation: 632
We have been contributing the maximum to our 401 and SIMPLE plans for a long time then added the catch-up as soon as we were eligible. We also contribute the max to Roth accounts for each of us and topping it off, we put 2k per month into a brokerage account. The retirement accounts are like black holes, money goes but never comes out. We save until it hurts, but the return on this investment over the years has made it worth it.

Retirement? Can't wait.
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Old 04-07-2015, 07:17 AM
 
Location: Anchored in Phoenix
1,942 posts, read 3,917,296 times
Reputation: 1767
How come you don't care how much a single person saved in a 401k? I did cohabitate a few years so I'm ex-cohabitated.

I saved for nearly 26 years in my 401k and IRA and recently it broached $1,000,000. I did not tell my friends or family - I keep it a secret from those who know me. I did not get any more advantage than anyone else except I turned 50 in 2009 and took advantage of the catchup for both 401k and IRA.

If I could do it, anyone can.
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Old 04-07-2015, 07:55 AM
 
Location: Grove City, Ohio
10,128 posts, read 12,373,396 times
Reputation: 13936
Quote:
Originally Posted by jack_pine View Post
Agree age and being on this forum will equal many responses with > 500k.
Yep, if you go by the results of this forum you will end up thinking you are among the poorest retirees on the planet if your annual income is less than $40k.
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Old 04-07-2015, 02:40 PM
 
Location: SoCal desert
8,093 posts, read 13,223,984 times
Reputation: 14870
Quote:
Originally Posted by Howard Roark View Post
How come you don't care how much a single person saved in a 401k? I did cohabitate a few years so I'm ex-cohabitated.
I wondered the same thing
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Old 04-07-2015, 08:45 PM
 
Location: Eastern UP of Michigan
1,202 posts, read 681,982 times
Reputation: 1271
Despite ourselves and all sorts of stupidity in our youth, we should be comfortable in our retirement. Had wanted about 750K, won't hit that but still pretty good. And our lifestyle is very simple-- our only car is an 9 year old Ford Focus wagon.

DH did retire 3-4 years earlier than we have expected, so as to take care of "lil momma" better. We dropped about 4k on his pension to do so, but was the right thing to do.

His pension, my SS at age 63(we are both 61) and a very small pension with the PBGC will total about 57K.

Medical comes from his employer and at 65 we will figure out what to do with it and Medicare. Also have to figure out yet what amount to take as a survivors annuity to his pension, as we a approaching the nine month married requirement. He will not be eligible for a SS benefit off my work record, something to do with CSRS.

If not for the mortgage..............................
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