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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 04-06-2015, 12:05 PM
 
Location: New Jersey
517 posts, read 357,899 times
Reputation: 716

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This is geared mostly at married/cohabiting couples with their own pension/401K accounts. Recent news article about how only 20% of Americans (or around that number) is really prepared for retirements, so it gotten me thinking;

are you happy with the amount you have in your current retirement accounts? and how much more can you really contribute towards it between paying your mortgage, paying for the kids, car maintence and vacations?

are you gonna delay your retirement due to low funds?
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Old 04-06-2015, 12:13 PM
 
5,619 posts, read 8,546,901 times
Reputation: 7705
Methinks the 20 year old will have less saved than the 60 year old.....

Don't see how your poll will help much.
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Old 04-06-2015, 12:16 PM
 
Location: Central Massachusetts
4,800 posts, read 4,843,254 times
Reputation: 6377
Themanwithnoname is right but your poll will have a valid point to make. Let's see how it goes. Most 20 year olds are not in our retirement forum. if there are some it will be valuable to them as well to understand and appreciate what they need to plan for. Then they need to get off this one and over to personal finances or the investment forums.
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Old 04-06-2015, 01:00 PM
 
Location: Mount Airy, Maryland
10,459 posts, read 5,920,270 times
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Am I to assume option 2 is More Than $350,000?

In addition as discussed in the past people who spend time on a retirement or investment board tend to have more money than the general public so I expect a lot of over $500,000 responses.
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Old 04-06-2015, 02:12 PM
 
Location: Montana
1,752 posts, read 1,652,767 times
Reputation: 5951
I am an outlier for how you have framed the issue.

My net worth is tied up in real estate, so I don't access it as an "income" source, and it's less than $350K (but not by much). However, I have 2 pensions that pay just short of $80K/yr between them (I am also still working for a few more months), and am able to draw full SS once I am old enough (in a couple more years), so I am very comfortable IMO.

I am sure there are plenty of folks who have a lot more, but also plenty of folks who have a lot less, too!

EDIT: I polled as less than $350K, but if you intended more than $350K, I belong in the more than $150 category.
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Old 04-06-2015, 05:14 PM
 
Location: Northern IL
241 posts, read 226,686 times
Reputation: 481
Agree age and being on this forum will equal many responses with > 500k.
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Old 04-06-2015, 06:42 PM
 
Location: Great State of Texas
86,093 posts, read 72,479,637 times
Reputation: 27565
Quote:
Originally Posted by mommy2be1053 View Post
This is geared mostly at married/cohabiting couples with their own pension/401K accounts. Recent news article about how only 20% of Americans (or around that number) is really prepared for retirements, so it gotten me thinking;

are you happy with the amount you have in your current retirement accounts? and how much more can you really contribute towards it between paying your mortgage, paying for the kids, car maintence and vacations?

are you gonna delay your retirement due to low funds?
Your poll is not indicative of your questions though.

Yes, I'm happy with my funds.
I don't have a mortgage.
My kids are grown and have flown the coop.
Car maintenance ? (what's different about car maintenance in retirement?)
I still take a vacation every year.

I'm retired so I cannot contribute any more towards my 401K.
I never contributed to my pension.

Most of us in the retirement forum are retired so not many are going to 'delay' what we've already did
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Old 04-06-2015, 07:20 PM
 
Location: New Jersey
517 posts, read 357,899 times
Reputation: 716
Quote:
Originally Posted by golfingduo View Post
Themanwithnoname is right but your poll will have a valid point to make. Let's see how it goes. Most 20 year olds are not in our retirement forum. if there are some it will be valuable to them as well to understand and appreciate what they need to plan for. Then they need to get off this one and over to personal finances or the investment forums.
You're right. It is why i posted in the retirement forum, as the article i mentioned in my original post made it sound like there are a lot of people in 40's to late 50's realizing they have very little in savings to retire. The percentage of that was around 20-25% if i recall, but could be wrong. I was thinking it seemed to be more about the 20-30's something crowd than the older nearing retirement population.

Quote:
Originally Posted by DaveinMtAiry View Post
Am I to assume option 2 is More Than $350,000?

In addition as discussed in the past people who spend time on a retirement or investment board tend to have more money than the general public so I expect a lot of over $500,000 responses.
you assume right. That is reassuring to know.
Quote:
Originally Posted by HappyTexan View Post
Your poll is not indicative of your questions though.

Yes, I'm happy with my funds.
I don't have a mortgage.
My kids are grown and have flown the coop.
Car maintenance ? (what's different about car maintenance in retirement?)
I still take a vacation every year.

I'm retired so I cannot contribute any more towards my 401K.
I never contributed to my pension.

Most of us in the retirement forum are retired so not many are going to 'delay' what we've already did
Touche! what about your health care costs? do you have insurance to cover your expenses or are you paying out of pocket?
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Old 04-06-2015, 08:05 PM
 
Location: Great State of Texas
86,093 posts, read 72,479,637 times
Reputation: 27565
Quote:
Originally Posted by mommy2be1053 View Post
You're right. It is why i posted in the retirement forum, as the article i mentioned in my original post made it sound like there are a lot of people in 40's to late 50's realizing they have very little in savings to retire. The percentage of that was around 20-25% if i recall, but could be wrong. I was thinking it seemed to be more about the 20-30's something crowd than the older nearing retirement population.



you assume right. That is reassuring to know.


Touche! what about your health care costs? do you have insurance to cover your expenses or are you paying out of pocket?
Retiree insurance with my company. I took the high deductible plan which costs me $0.
I could have opted for higher premium/lower out of pockets costs but that would have cost me.
I'm healthy so I opted for the $0 to me high deductible.
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Old 04-06-2015, 08:14 PM
 
Location: Texas
43,545 posts, read 52,637,306 times
Reputation: 70777
Max out every year x 10 years and have "matched" myself.
Consider it part of paying myself first.
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