U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-02-2016, 03:51 PM
 
71,798 posts, read 71,896,917 times
Reputation: 49350

Advertisements

well you have 1/2 the country with no savings at any point in their life so why should retirement be any different . it is no surprise you see article after article about seniors being in poor financial shape but duh , these same folks never had anything
Reply With Quote Quick reply to this message

 
Old 04-02-2016, 04:02 PM
 
Location: RVA
2,172 posts, read 1,271,519 times
Reputation: 4492
Well, WE know that welmoff savers are fine in retirement, but what kind of percentages are we tapking about? And does that really matter? All that matters is if YOU are ready and handling your finances with aplomb.
Reply With Quote Quick reply to this message
 
Old 04-02-2016, 04:45 PM
 
29,813 posts, read 34,900,894 times
Reputation: 11730
Quote:
Originally Posted by Escort Rider View Post
So what is the point in this thread? That a certain subset of people are doing fine? If so, didn't we all know that already?
Yup, just like the endless parade of threads saying how so many are hurting. My sense is the negative threads far outnumber the positive ones. So a little joy for the group. Also the link which the thread is all about has a ton of data that is rarely posted in the forum that is being made for available for number crunchers to have data to support or refute points made or implied. Thoughts abound in here based on .................
Reply With Quote Quick reply to this message
 
Old 04-02-2016, 04:47 PM
 
29,813 posts, read 34,900,894 times
Reputation: 11730
Quote:
Originally Posted by Perryinva View Post
Well, WE know that welmoff savers are fine in retirement, but what kind of percentages are we tapking about? And does that really matter? All that matters is if YOU are ready and handling your finances with aplomb.
Check out the link and find out
Reply With Quote Quick reply to this message
 
Old 04-02-2016, 04:52 PM
 
29,813 posts, read 34,900,894 times
Reputation: 11730
Here is the narrative from the 2014 report along with the link to the 2015 data which I failed to link in the OP.
A Positive Picture of Retirement - T.*Rowe*Price

http://rps.troweprice.com/mc/sites/R...thFindings.pdf

If interested digest and enjoy if not oh well you aren't!
Reply With Quote Quick reply to this message
 
Old 04-02-2016, 07:12 PM
 
1,099 posts, read 665,718 times
Reputation: 734
I never know what to think. This was the last article I read on the topic...

Nearly a third of savers have less than $1,000 for retirement

"Twenty-eight percent of workers have less than $1,000 in savings that could be applied toward their retirement"

"57 percent say they have less than $25,000 in retirement savings."
Reply With Quote Quick reply to this message
 
Old 04-02-2016, 07:28 PM
 
Location: RVA
2,172 posts, read 1,271,519 times
Reputation: 4492
Don't get me wrong. I agree with more positive posts here, the doom and gloom ones far out number "Here's some proof that if you do what is considered prudent, it actually works." I Disagree with the other posters that say the results are obvious..they are far from that. An educated guess would be that those results are expected, but the proof is in the pudding.

The article does not specify, nor is it intended to, indicate what percentage the intended demographic is of the overall total retiree population fitting the same time frame.
Reply With Quote Quick reply to this message
 
Old 04-03-2016, 03:12 AM
 
71,798 posts, read 71,896,917 times
Reputation: 49350
the reality is no one really knows what we all have . those surveys, even the separate census one are just randomly given to a relatively small sampling .

i don't think you would come close to guessing what each of us has on our own block it vary's so much .

personally who cares what others have or don't . if everyone worried more about themselves instead of their neighbor they would be better off
Reply With Quote Quick reply to this message
 
Old 04-03-2016, 03:34 AM
 
Location: Los Angeles area
14,018 posts, read 17,759,876 times
Reputation: 32309
Quote:
Originally Posted by Escort Rider View Post
So what is the point in this thread? That a certain subset of people are doing fine? If so, didn't we all know that already?
Quote:
Originally Posted by GeoffD View Post
There is no point to this thread
Quote:
Originally Posted by TuborgP View Post
Yup, just like the endless parade of threads saying how so many are hurting. My sense is the negative threads far outnumber the positive ones. So a little joy for the group. Also the link which the thread is all about has a ton of data that is rarely posted in the forum that is being made for available for number crunchers to have data to support or refute points made or implied. Thoughts abound in here based on .................
O.K., Tuborg, you wanted to counterbalance all the negative "people aren't saving enough" threads, the ones usually based on magazine or newspaper articles. I get that, but I still think studying people with a 401(k) available to them at work with a certain minimum balance in it is a silly kind of study because the conclusion is rather obvious.

I actually share your irritation at the "ain't it awful" type of journalism which is an obvious hook for more readership in which the grains of truth are distorted by failing to take into account various things. But the study cited here didn't cause me any particular "joy". I already knew many people were successfully saving.
Reply With Quote Quick reply to this message
 
Old 04-03-2016, 04:50 AM
 
29,813 posts, read 34,900,894 times
Reputation: 11730
Quote:
Originally Posted by Escort Rider View Post
O.K., Tuborg, you wanted to counterbalance all the negative "people aren't saving enough" threads, the ones usually based on magazine or newspaper articles. I get that, but I still think studying people with a 401(k) available to them at work with a certain minimum balance in it is a silly kind of study because the conclusion is rather obvious.

I actually share your irritation at the "ain't it awful" type of journalism which is an obvious hook for more readership in which the grains of truth are distorted by failing to take into account various things. But the study cited here didn't cause me any particular "joy". I already knew many people were successfully saving.
There is a bigger picture to all of this that I was unfortunately assuming everyone would connect. One of the core issues in our society today is is not just income inequality but perhaps most importantly wealth inequality. Much of the discussion about retirement affordability is directly related to that. Much of the political discussion is how to alleviate wealth inequalities impact on retirement. I think many would agree that is a big topic of discussion. Core to that and there are many related proposals to help ease that inequality is the creation of work place savings for all. Or a 401K for all. We all know there have already been efforts non seeming to work to address that. This is part of the SS distribution/means testing for SS and Medicare etc etc. It is hard for policy makers to come up with workable solutions without knowing the data. Politicians can jaw without knowing but for actual policy decision making the data and how it plays out is critical. So yes 401K and perhaps most importantly a 401k with employer match is a well as you note documented way to the option of retirement financial security. We often discuss in here how the world we individually live in shapes our perception of the big picture. That is often a function of geography. I was listening to a discussion the other day that where the greatest approval for the current economic conditions and individual personal feelings about themselves are the greatest near urban areas with a high percentage of industry in Tech and Health fields etc. Those areas offer higher salaries, benefits ( pensions and 401K/403B, health insurance, leave time) etc. They are also the areas with lower unemployment and greater job stability. Noted in the conversation was the difference between upstate NY and suburban NY city metro area. Many in this forum with retirement security are there because of their workplace setting and their employment history. The study provides insight into how and why this has happened and along with other studies provides valuable insight into much of the root cause of retiremt/wealth inequality. It is more than the simple frugality of not buying Iphones as some would suggest. Many of the folks entering a secure retirement are doing so with the newest Iphone and Ipad in hand. In fact they are using them to manage their portfolios. Anyone graduating from high school today would be advised to know and understand all of the available data and use it to help chart their future path in life including where to live and what to study in college or a trade school.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top