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Old 09-30-2009, 02:30 PM
 
Location: Sierra Vista, AZ
16,133 posts, read 20,833,904 times
Reputation: 8293

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Quote:
Originally Posted by Iwillthink4u View Post
living in the U.S. has proven to be almost always about one thing! Retirement!
everyone is "living to retire!"....it's an ultimate goal and you better be ready for it!!! how silly! People don't understand that there needs to be a balance! live well now, prepare so you can live well later also! that's what i believe it should be!

i wanted to know if people here are overly concerned about retirement.....or have they found that balance. I'd also be interested in hearing about how much you've stashed away and at what age....

i'm 28, working for 6 years, 42k in 401k, 20k stocks, 75k equity in houses, and that's about it. most calculators put me at the bottom to midle of the chart as far as saving for retirement. I don't want to kill myself now with saving just so that i can have money in retirement (and then die at 75! lol)
Don't there's a lot of life between you and retirement. Aquire assets, improve your job, whatever you need to do to make your present more secure
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Old 09-30-2009, 02:43 PM
 
Location: Alaska
5,356 posts, read 16,354,822 times
Reputation: 4024
Quote:
Originally Posted by mathjak107 View Post
its like fighting a war. you need to support all fronts and not pull from one to prop up another. you need money for now, money for later, money for those expenses not even on the radar.... it isnt easy and requires strict discipline but thats what it takes to pull this off...

of course having one of those rare jobs with a pension makes things easier but good luck finding one of those..
One of the luckiest things I did was to stumble into a job with a defined benefit pension. I though nothing of it at the time, other than working enough to become vested. Now it's the difference between working until I'm 66-70+ versus retiring at 60. My wife was fortunate too when she got a job with the same thing, but then I knew how lucky we both were.
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Old 09-30-2009, 02:45 PM
 
204 posts, read 541,562 times
Reputation: 65
Quote:
Originally Posted by mathjak107 View Post
Whatever you do time is your friend the younger you start the easier it is to grow some nice chunks of dough..

everytime i used to find it a struggle to keep funding my retirement plan thru the decades i would remind my self if i was finding it difficult now with a paycheck making ends meet how was i going to do it when the checks stop.... i would always mange to come up with the money some how to sock it away. id always pay me first, just like a bill
your response leads me to believe that you didn't even bother to read my original post!
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Old 09-30-2009, 02:46 PM
 
29,784 posts, read 34,885,423 times
Reputation: 11710
Quote:
Originally Posted by Iwillthink4u View Post
this is the exact mentality that i'm talking about!
i think there are things that are best experienced NOW as opposed to when you retire and are old! don't you think?
i think that if there is a balance, between enjoying life now and saving for tomorrow, then you wouldn't have to worry so much about the last 20 years of life as opposed to living the first 60!
It isn't a matter of worrying about the last 20 years of life. In fact if you do it right and stay healthy you can be retired for about if not loner than you worked. Tis possible. Now that is the life a 30 plus year vacation. Your philosophy is great until you reach the point of wanting to retire and not being able to. It is all a matter of balance and if you make enough you can have your cake life long. It is a matter of being aware of today and tomorrow and striking a balance between the two. The wonderful thing is it is in your hands and you can play out your life as you want. I write this as I sit gazing out at the woods laptop on the lap. Aghhhhh yes it tis the life.
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Old 09-30-2009, 02:54 PM
 
13,322 posts, read 25,578,684 times
Reputation: 20520
THe OP sounds like he/she is in great shape for the future, starting so early. He hardly has to eat ramen noodles and live on a mat in a room for 50 years towards retirement.
I didn't do a thing about the long-term future until age 42, and was a little older when I realized, by sheer accident, that I was vested in a fat old-fashioned pension plan. I am now, at 56, plodding along with a nice lifestyle and a 40-hour job that is really a strain on me. I remind myself that, if I'd done anything prudent earlier (anything, not just retirement!) I could likely work fewer hours now and still be on track. I remind myself it won't get any easier if I start tomorrow, and if I'd started earlier, it would be easier now.
Sounds like the OP could actually just coast from now on, not scrimp and stuff. Yes, one should live somewhat fully all along, but it depends on what that means and how much it costs.
I absolutely wish I'd saved more (or anything) when younger. I mean, ten bucks a week since my first job in 1969 would be pretty nice by now! I just didn't get it.
Hats off to the OP for such a good start.
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Old 09-30-2009, 02:54 PM
 
Location: Sierra Vista, AZ
16,133 posts, read 20,833,904 times
Reputation: 8293
Trying to prepare for what will happen over the next 40 years is impossible. I've lived through several recessions one hyper inflation and had six jobs. The time I thought I was preparing for the future turned out to be wasted and the time I wasted turned out to be the basis of my retirement. Insurance and annuities only make money for the Insurance Companies. Put some away and use the rest to improve your life.
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Old 09-30-2009, 03:11 PM
 
Location: Prospect, KY
5,288 posts, read 17,967,262 times
Reputation: 6544
We have lifetime pension, medical and dental, a monthly annuity, an IRA, a money market account and some modest savings - not any huge chunks of cash but we feel fairly secure with our good income, insurance and investments. Our guaranteed annuity was a way for us to tax defer a large chunk of change and ultimately saved us about $50,000 in taxes.
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Old 09-30-2009, 04:48 PM
 
71,716 posts, read 71,829,507 times
Reputation: 49288
Quote:
Originally Posted by Iwillthink4u View Post
your response leads me to believe that you didn't even bother to read my original post!
of course i did, and the answere is your doing just fine... you started young, you have lots of time to grow those assets you have.

the point was at times life is going to throw lots of zingers at you and try to knock you off course.. expenses, family , changes in careers, you name it and its lurcking out there.

i started at 18 and i got to say so many times thru our lives i was not going to make a contribution to my retirement plans because of other expenses..

i would think long and hard about it and force myself to do it, kind of pay myself first...

im retiring next year at 57 and we are doing it because we invested religiously and planned for years
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Old 09-30-2009, 05:32 PM
 
Location: Sacramento
13,784 posts, read 23,817,529 times
Reputation: 6195
Quote:
Originally Posted by Iwillthink4u View Post
living in the U.S. has proven to be almost always about one thing! Retirement!
everyone is "living to retire!"....it's an ultimate goal and you better be ready for it!!! how silly! People don't understand that there needs to be a balance! live well now, prepare so you can live well later also! that's what i believe it should be!

i wanted to know if people here are overly concerned about retirement.....or have they found that balance. I'd also be interested in hearing about how much you've stashed away and at what age....

i'm 28, working for 6 years, 42k in 401k, 20k stocks, 75k equity in houses, and that's about it. most calculators put me at the bottom to midle of the chart as far as saving for retirement. I don't want to kill myself now with saving just so that i can have money in retirement (and then die at 75! lol)

I think if you put away 5-10% of your gross income each year until retirement age (I assume mid to late 60's) you should be OK. It would help if you have a full or partial matching contribution from your employer.

I think you will find Social Security will still around in the future, and your savings will generate income to supplement SS.

I've read those calculators about how much you should have in retirement, and generally find them to be inaccurate.
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Old 09-30-2009, 05:43 PM
 
48,516 posts, read 83,978,960 times
Reputation: 18050
Too many have choose to live well now and hope for the best later is what its really about . Then they want the government to support them when they figureout that the are about to go to the poor house as they near retirement.
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