Poll: How Much Money Do You Have Saved for Retirement? (relative, psycho)
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I answered but without more information, the numbers mean little. As an example, say 62 with debt and $500K is different then 76 with no debt and $500K.
Exactly. How many vacation homes do you own? How much does it cost to maintain them? How many yachts do you have? How much does it cost to crew and maintain them? How many rental units do you own? What percentage of your retirement income do you reinvest? What taxes do you pay? How much of your retirement income is taxable income, how much is capital gains, and how much is tax free? Can your retirement savings be repatriated without penalty? Do you count cash value of annuities and insurance policies, even though you can't access the funds?
Then there's the point that retired people don't keep their money in money, so net worth is hypothetical.
I didn't mean to make anyone uncomfortable. I thought it was a very common issue for a retirement forum. I was a little surprised by the pearl-clutching.
The poll is completely anonymous. No one will know what option you selected.
It's completely up to you, whether you want to make post about your personal situation. That's why I made it a poll (anonymous) rather than an open question.
lol IMO only here is it an issue.
I also hang out on bogleheads and early retirement.org.
Only poor people talk about how much money they have. "Old money" and well-off people do not. It's tasteless and crude.
Money discussions here consist of evaluating your retirement cash flow to maintain the lifestyle you would like, along with abstract generalizations, like the fact that $1,000,000 will buy you about $40,000/year income, before taxes.
I beg to differ. I volunteer in the one of the poorest citys in the NOrtheast, Camden NJ. the problem is the opposite. the poor do not talk about money, they don't talk about how they spend their money nor how to grow, bank or invest money.
The rich that I know ( those who are making 300-400K annually) ask questions and talk all the time. They will tell you what they think about investments, life insurance, wills, financial planners etc. they will ask you specific amounts.
Again if you post a question on bogleheads or earlyretirement (those are the two I am familiar with) they are going to ask you pertinent question.
op, you may have better luck on the economics board specifically the investment tab. old folks here are scared someone's going to rob them.
Whos to say you should believe one poll over another? People can lie on any surveys they want. Maybe the people who completed the bank survey are the biggest liars. Or maybe the polls are inaccurate. Like all the polls that said Hillary was a slam dunk winner.
In other words, this poll is as ridiculous or as accurate as you want it to be.
My guess is that the regular posters here place a priority on providing for their future and therefore have likely taken an active role (i.e. decades of savings) toward that goal. So higher than normal savings amounts does not surprise me. A high percentage of low savings amounts would surprise me.
I also hang out on bogleheads and early retirement.org.
i agree.money and amounts are freely talked about on many forums where the goal is more focused on doing better , having more ideas for a plan , and seeing what you can cherry pick for your plan that others may do .
much different crowd then here which is comprised of the have and have nots. you have some with the goals above and others who just want to commiserate with others who may have less than . that is why there is such a focus on all these how bad we are all supposed to be doing articles and surveys .
Last edited by mathjak107; 09-17-2018 at 06:52 AM..
My guess is that the regular posters here place a priority on providing for their future and therefore have likely taken an active role (i.e. decades of savings) toward that goal. So higher than normal savings amounts does not surprise me. A high percentage of low savings amounts would surprise me.
I agree. And if you were to go to the Boggleheads or similar financial/retirement site where the vast majority of folks are heavily involved in their financial goals, the figures will be higher than average.
I also hang out on bogleheads and early retirement.org.
Same here. This sort of conversation is run of the mill there. Multiple polls on the same and similar subjects. Constant, open conversation about personal financial situations.
But here, it's a taboo subject somehow, not talked about. Asking for people to click an anonymous poll is transgressing the social boundaries. Frankly, that's weird.
I've been surprised at the level of defensiveness, hostility, and dismissiveness. At first I thought it was just a couple of wackos, but no, it seems to be fairly widespread.
I think part of it is that I must have struck a nerve with some people. I can almost hear the "How Dare You!" in their tone. I suspect that they don't feel all that great about their financial situation, so they react defensively.
I've also been surprised at how unsophisticated the ideas are. Many people have dismissed the poll as meaningless because it doesn't paint a complete picture of a person's financial situation. Since when do polls paint a complete picture of anything? Have people never encountered a poll before?
Quote:
Originally Posted by eliza61nyc
op, you may have better luck on the economics board specifically the investment tab. old folks here are scared someone's going to rob them.
lol, thanks. It's nice to hear from people who can shed a little light.
we were featured in both money magazine and fidelity investment magazine , we dropped our pants for millions to read . it was much ado about nuttin . the article spent 10 years up on the cnn website too . i guess they take things down every decade .
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