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 03-21-2007, 08:38 PM
 
Location: Oregon Coast
1,848 posts, read 6,248,052 times
Reputation: 1383

Advertisements

Do you have your finances figured out for your retirement years?

We hae figured out most of it but I worry that it won't be enough. Still when I look at the totals it should be enough. Who can say how much is enough?

My husband and I'll have 2 pensions and a small 401k. Plus we'll get S.S. once we are old enough. Still I am a concerned about the future cost of things. I don't suppose there is a fool proof plan for retirement years.
Reply With Quote Quick reply to this message

 
Old 03-21-2007, 09:04 PM
 
Location: Somewhere close to Heber, AR
388 posts, read 1,643,259 times
Reputation: 201
Biggest thing, IMO, is making sure you own your home outright before you retire, and have no other debt.

A few bucks in the bank for emergencies (new roof, plumbing repairs and the like) and three years expense money including food, fuel, utilities, etc.

Once you retire, you'll adjust.

I realize some will think that's not enough, others might have trouble amassing savings to meet that criteria, and I certainly have no idea of the worth of your pensions or your 401k(s) and can't factor those in, but that's the minimum, IMO.
Reply With Quote Quick reply to this message
 
Old 03-21-2007, 09:33 PM
 
Location: Happy wherever I am - Florida now
3,359 posts, read 10,908,364 times
Reputation: 3838
Two pensions sounds like a pretty foolproof plan for retirement. You're lucky to have them. Most people don't.
Reply With Quote Quick reply to this message
 
Old 03-22-2007, 02:00 AM
 
Location: Oregon Coast
1,848 posts, read 6,248,052 times
Reputation: 1383
Good suggestions magrack! We are working at paying off the couple of things we have left. We'll need to finish paying off the car. Then it'll be time for retirement. Yippie!

Perhaps I just worry too much.
Reply With Quote Quick reply to this message
 
Old 03-22-2007, 10:37 AM
 
Location: Prospect, KY
5,288 posts, read 17,953,712 times
Reputation: 6544
We will retire next year - DH will be 62 and I will be 57...we will move and relocate to the south where we will pay cash for our house. We will have a pension and investments that will allow us to basically have the same income that we do now in So. California. We plan to travel and enjoy all the things we do now but with more time and no house payment. Life is good.
Reply With Quote Quick reply to this message
 
Old 04-13-2007, 12:10 PM
 
Location: Las Vegas
13,886 posts, read 25,311,688 times
Reputation: 26372
Can anyone ever have enough?

I think all those estimators are wrong. They say you need millions to retire. Sounds like work till you die propaganda to me! I really believe they are figuring retirement with no change in standard of living or activities when in reality, most people know these things will change after they retire.

I will save a load of money by just not going to work every day!
Reply With Quote Quick reply to this message
 
Old 04-13-2007, 07:03 PM
 
Location: Journey's End
10,189 posts, read 24,907,732 times
Reputation: 3840
Things do change, but if you are prepared financially, and psychologically, it works better than you think. And money is elastic and nothing stays the same. My insurance has gone up, down and up in one year, but other expenses have decreased. Hopefully, it all works out in the end and I'll be able to eat more than catfood.
Reply With Quote Quick reply to this message
 
Old 04-13-2007, 07:42 PM
 
2 posts, read 5,292 times
Reputation: 10
My husband retired tow years ago and I'm still working (I'm 52 years old). At this point I've decided to save every penny to add to his pension and IRA/401k. Our home will be paid for in 1.5 years and that will provide more liquid cash for "stuff". I worry more about nursing home care costs if one of us needs it....With the cost of things is it really the golden years?
Reply With Quote Quick reply to this message
 
Old 04-17-2007, 02:13 PM
 
124 posts, read 616,456 times
Reputation: 93
I found a very excellent article today by Humberto Cruz titled, "Study sets guidelines for saving for your retirement." There is a link in the article to the actual study which was published in the April Journal of Financial Planning. It was very interesting read.

http://www.sun-sentinel.com/business/columnists/sfl-ybsave16apr16,0,7255351.column (broken link)
Reply With Quote Quick reply to this message
 
Old 06-22-2007, 07:21 PM
 
29,774 posts, read 34,856,103 times
Reputation: 11687
Default Teaching and Retirement Planning are awesome

Don't let anyone tell you teachers are not well paid. My wife and I are both educators and where else today can you get a pension that pays 50-65% of your salary for life after working 30 years. That along with the 403B possibilities schools systems have and social security can make for a very stable retirement future. Reading in this forum should be required for all of us educators so we realize how good we have it.
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
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