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Old 04-25-2015, 05:23 PM
 
33,046 posts, read 22,057,675 times
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Quote:
Originally Posted by Escort Rider View Post
Perhaps I am belaboring the obvious, but the tacit implication of some of the quotes from the article is that if people have made no retirement plan and have no savings whatsoever, that they will have nothing in retirement and will be totally destitute. That thinking ignores Social Security. Someone with 35 years of earnings at more than minimal levels who is able to wait until full retirement age to draw SS retirement benefits will be able to live in reasonable, albeit rather frugal, comfort, even if there are no other savings.

Now I am not arguing that such total reliance on Social Security is a good idea, nor would I be personally satisfied with such a non-plan and its concomitant life style.

So while it is a bit scary and also puzzling that so many people have no plan and/or no savings at all, the picture is not totally bleak either. Excellent rationale for the mandatory nature of SS, which is a real life saver on a societal level.

Someone with 35 years of earnings at more than minimal levels without saving for retirement gets my opprobrium. I do not expect someone with minimal wages to save for retirement, but I do expect those with higher earnings to save, especially if they did not start out weighted down by student loan debt.
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Old 04-25-2015, 05:25 PM
 
71,559 posts, read 71,730,589 times
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Lets not forget those weighted down who had loans from buying a business,those weighted down with illness,job loss, divorce.

But yet folks do save and do okay. but not you..

Last edited by mathjak107; 04-25-2015 at 05:49 PM..
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Old 04-25-2015, 09:16 PM
 
Location: State of Grace
1,582 posts, read 1,137,722 times
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Quote:
Originally Posted by mathjak107 View Post
this is not correct for the purpose of this discussion. . you don't look at it from birth. once you make it to 65 a 65 year old man has a 62% chance of seeing 80 and a 42% chance of seeing 85 . a 65 year old women has a 72% chance of seeing 80 and a 54% chance of 85 . a couple has a 89% chance of seeing 80 and a 73% chance of 85 since either one can out live the other .

for purposes of discussing retirement you need to keep the numbers in the right range.

if i was an insurer i would be interested in deaths from birth but for retirement planning it serves no bearing.



we are adding 1 year of life now every 4-5 years since 2000


I agree... if you make it to 65 - which was my point.


Mahrie.
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Old 04-25-2015, 11:30 PM
 
33,046 posts, read 22,057,675 times
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Quote:
Originally Posted by mathjak107 View Post
Lets not forget those weighted down who had loans from buying a business,those weighted down with illness,job loss, divorce.

But yet folks do save and do okay. but not you..

Actually, people weighted down with illness often limp along on minimal disability checks, unless they were able to work long enough to acquire assets. e.g. previously I rented a room from someone who was living on disability but previously had owned a restaurant for years and thus owned a house.
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Old 04-26-2015, 12:00 AM
 
Location: Sugar Land, TX
49 posts, read 65,243 times
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I help teachers set up their 403b and there a some whom only want to contribute $20 per paycheck. Pathetic. That's less than $500 a year. They should be saving at least $5,000 a year which is about 10% of their salary.
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Old 04-26-2015, 12:08 AM
 
10,817 posts, read 8,063,256 times
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Quote:
Originally Posted by Kitten_Moon View Post
I help teachers set up their 403b and there a some whom only want to contribute $20 per paycheck. Pathetic.
How exactly are you "helping them", do you get a commission or fee? How are these 403b's invested?
I'm a former Texas teacher who for a brief time was ripped off by persons who wanted to "help" me.
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Old 04-26-2015, 02:33 AM
 
33,046 posts, read 22,057,675 times
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Quote:
Originally Posted by biscuitmom View Post
How exactly are you "helping them", do you get a commission or fee? How are these 403b's invested?
I'm a former Texas teacher who for a brief time was ripped off by persons who wanted to "help" me.

The commission on $20 per paycheck would be pathetic.
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Old 04-26-2015, 05:03 AM
 
29,779 posts, read 34,867,277 times
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Quote:
Originally Posted by biscuitmom View Post
How exactly are you "helping them", do you get a commission or fee? How are these 403b's invested?
I'm a former Texas teacher who for a brief time was ripped off by persons who wanted to "help" me.
Bada Bing and how are they helping them factor in their pensions. I have little respect for faculty room sales vultures. Most of them are annuity salespeople.
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Old 04-26-2015, 05:12 AM
 
29,779 posts, read 34,867,277 times
Reputation: 11705
Quote:
Originally Posted by Kitten_Moon View Post
I help teachers set up their 403b and there a some whom only want to contribute $20 per paycheck. Pathetic. That's less than $500 a year. They should be saving at least $5,000 a year which is about 10% of their salary.
You are new to CD and you need to realize people can check your posting history. It is interesting that you would post a negative comment about teachers after posting in another forum thread on hating your job. You are a recent grad who hates their job in financial sales and can't find another one. You hate having to do cold sales and go to meet people who don't show up. Your sales numbers are low and you will be dismissed this summer unless you get them up. So how do you respond? You come into another forum and attack those very people face to face you claim to be helping. Are there words for that? Yes financial sales person.
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Old 04-26-2015, 05:12 AM
 
71,559 posts, read 71,730,589 times
Reputation: 49156
i always thought about getting licensed and helping boomers structure but i think i would just talk myself out of a good living being to honest.

heck , with my son being an attorney and his wife a cpa we could have opened a retirement super market with one stop shopping.

but laws here about owning associated business's would make that grey area a source of trouble .

to much like work as well ha ha ha
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