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 04-03-2016, 07:09 AM
 
29,884 posts, read 34,945,207 times
Reputation: 11793

Advertisements

Quote:
Originally Posted by ReachTheBeach View Post
One odd thing about this is that sometimes I think some retirees who have decent savings but well short of the "magic mark" end up retiring more comfortably than those that barely make it to their target. Comfortably might be the wrong word; maybe enjoyably is a better choice. Living in luxury you can barely afford can be stressful.

I do wish there was an easy way to find studies and surveys that somewhat closely described me and my plans better. I probably won't make the magic mark. I won't fall way short. OTOH I am not sure how much it would help to see statistics. The kind of stat I am talking about is something along the lines of likelihood of the various scenarios that throw people for a loop financially so I could make informed decisions about which ones to try to insure against or somehow safeguard myself from.

I know there are a bunch of us "in betweeners". We read the general US stats and feel like we are set then click on a thread like this and worry about having enough.
That's why it is important to read and consider the data behind the headlines. It is in reviewing various studies that you can find your niche. One of the things that attracted me to the Triangle area of NC was the nature of its corporate base ( tech oriented ) as opposed to Charlotte ( financial ) or Wilmington old with retirees and other transplants wanting the ocean. The future economic sustainability with educated and affluent millenials in the Triangle was best. The Great Recession supported it in hindsight. As far as what to safeguard against that is a function of planning, time and events to be determined. Each year we become more shielded as things uneventfully fall into place and our life expectancy horizon compacts. By how much is unknown but we obviously have five less years to live than in 2011.
Reply With Quote Quick reply to this message

 
Old 04-03-2016, 07:32 AM
 
14,048 posts, read 7,490,249 times
Reputation: 25699
Quote:
Originally Posted by Listener2307 View Post
In fact, some people will do better because they will spend their first 30 working years buying what is necessary and paying off debt and, the last 10 years living debt free and saving. That can work, too, but only if you can control spending.
I have been living this strategy after getting divorced twice but i'm pretty high income. It's simply not a reasonable approach unless you are quite high income. If you're a 5%er, saving 40% to 50% of your gross for a decade between maxing a 401(k) and banking a big chunk of your after-tax income, you can create that pile of investable assets to retire with an OK income stream. If you're closer to median household income, it simply won't pile up fast enough to make much of a difference. If anything bad happens with employment or health, you're screwed. You're forced down the path of retiring at age 62 with the smallest possible Social Security check and dipping into your savings any time a large expense comes up.
Reply With Quote Quick reply to this message
 
Old 04-03-2016, 07:40 AM
 
29,884 posts, read 34,945,207 times
Reputation: 11793
Quote:
Originally Posted by GeoffD View Post
I have been living this strategy after getting divorced twice but i'm pretty high income. It's simply not a reasonable approach unless you are quite high income. If you're a 5%er, saving 40% to 50% of your gross for a decade between maxing a 401(k) and banking a big chunk of your after-tax income, you can create that pile of investable assets to retire with an OK income stream. If you're closer to median household income, it simply won't pile up fast enough to make much of a difference. If anything bad happens with employment or health, you're screwed. You're forced down the path of retiring at age 62 with the smallest possible Social Security check and dipping into your savings any time a large expense comes up.
One of the recent reports had data supporting your exact point. It broke retirement readiness down by several variables including divorce and the age when divorced. It was a statistical killer. Health was not a controllable variable and employment as related to job changes a plus or minus but often a minus if accrued benefits were diminished. It was based on a data review. The data link of this thread includes 77 pages of data about saving habits along with spending habits etc. it looks at employment history and most importantly for your latest post current and previous marital status. It is a lot meat for what are often skeleton bare forum retirement discussions.
Reply With Quote Quick reply to this message
 
Old 04-03-2016, 07:48 AM
 
Location: USA
6,229 posts, read 5,381,454 times
Reputation: 10643
It wasn't such a problem when employers offered lifetime pensions.
Reply With Quote Quick reply to this message
 
Old 04-03-2016, 07:50 AM
 
29,884 posts, read 34,945,207 times
Reputation: 11793
Quote:
Originally Posted by s1alker View Post
It wasn't such a problem when employers offered lifetime pensions.
It was and is a problem when pensions go belly up especially private ones and companies close. Give the data a look at and you might find there are tunnels with light.
Reply With Quote Quick reply to this message
 
Old 04-03-2016, 07:51 AM
 
72,064 posts, read 72,068,214 times
Reputation: 49610
wouldn't know , in my 40 years of working i never had an employer that had a pension . in fact we didn't even have 401k's for much of my working years .

except for gov't jobs pensions were already on the way out in my lifetime .
Reply With Quote Quick reply to this message
 
Old 04-03-2016, 07:59 AM
 
29,884 posts, read 34,945,207 times
Reputation: 11793
From now on more paragraphs
Reply With Quote Quick reply to this message
 
Old 04-03-2016, 08:00 AM
 
72,064 posts, read 72,068,214 times
Reputation: 49610
my eyes suck so i tend to use big spaces and to many paragraphs when i post .
Reply With Quote Quick reply to this message
 
Old 04-03-2016, 08:04 AM
 
Location: NC Piedmont
3,931 posts, read 2,892,754 times
Reputation: 6313
I do run on sentences and then go back and embed more sentences inside them in parantheses. But I do generally space between paragraphs to give readers a chance to uncross their eyes and catch their breath.
Reply With Quote Quick reply to this message
 
Old 04-03-2016, 08:05 AM
 
29,884 posts, read 34,945,207 times
Reputation: 11793
Quote:
Originally Posted by mathjak107 View Post
my eyes suck so i tend to use big spaces and to many paragraphs when i post .
You personally are a great study in the context of the linked data. Your thinking and life experiences support their data. There is a lot to be learned from their data and your life experiences just because of the point you noted.
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