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View Poll Results: How do YOU plan to afford to retire in OC?
I have a trust fund, it's not a problem. 4 23.53%
I really don't think about it. Right now I know I have not saved enough. 2 11.76%
I know that I cannot afford to stay in OC if I retire. I don't know what I will do. 0 0%
I plan to leave OC before or at the time of retirement. 3 17.65%
I am on track to retire comfortably in OC by having saved, invested, etc. 8 47.06%
I plan to keep working late into my elderly years. 0 0%
Voters: 17. You may not vote on this poll

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Old 04-29-2016, 06:23 PM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,142,657 times
Reputation: 7997

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The OCRegister recently ran an article about the one million dollar requirement for people to retire comfortably in OC.

The problem is that a majority of Americans older than 55 have no retirement savings at all, and, among those who do, half have less than $150,000, according to the GAO.

California is set to introduce some sort of a retirement savings plan for private sector workers who have no set pension plan. These plans would require employers to automatically withhold 3 percent or 5 percent of each worker’s pay in a "Secure Choice" account. Secure Choice

Sorry guys, this fund won't cut it.And a lot of folks in OC are ridiculing the savings plan.

Whatever, the case, how to YOU plan to afford to retire in OC?
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Old 04-29-2016, 07:11 PM
 
Location: Ca expat loving Idaho
5,267 posts, read 4,182,098 times
Reputation: 8139
Me and my friends can't retire here there's no way. I'm actually looking into bailing to another state right now. I think only Union pensioners can even come close to affording to retire here. I have a elderly neighbor and she tells me all the time the only way she can stay here is because she owns her condo outright
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Old 04-29-2016, 08:15 PM
 
73 posts, read 56,967 times
Reputation: 60
Not really thinking about it because it's a pretty long way off. Marrying an MD + have a trust fund + I make good money.
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Old 04-29-2016, 08:30 PM
 
384 posts, read 734,630 times
Reputation: 347
Honesty I wouldn't choose OC for retirement.
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Old 04-29-2016, 09:57 PM
 
Location: Riverside Ca
22,146 posts, read 33,537,436 times
Reputation: 35437
I'm living in OC but don't plan on retiring here. We have a few rentals here which we plan to keep and enjoy the cash flow.
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Old 04-30-2016, 10:31 AM
 
2,986 posts, read 4,577,410 times
Reputation: 1664
having your house paid off by retirement changes everything. you don't need to be a trust fund baby to retire in OC
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Old 05-01-2016, 06:03 PM
 
Location: Rust'n in Tustin
3,272 posts, read 3,933,909 times
Reputation: 7068
Quote:
Originally Posted by Cardiff Kook View Post
having your house paid off by retirement changes everything. you don't need to be a trust fund baby to retire in OC
Yep, people that don't plan for THEIR retirement can't have any of mine.
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Old 05-01-2016, 06:04 PM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,142,657 times
Reputation: 7997
Quote:
Originally Posted by ysr_racer View Post
Yep, people that don't plan for THEIR retirement can't have any of mine.
Ah but they plan to take it. Believe it.
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Old 05-01-2016, 06:35 PM
 
Location: Riverside Ca
22,146 posts, read 33,537,436 times
Reputation: 35437
Quote:
Originally Posted by LuvSouthOC View Post
Ah but they plan to take it. Believe it.


It's the ant and grasshopper all over again
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Old 05-02-2016, 09:38 AM
 
3,437 posts, read 3,287,395 times
Reputation: 2508
if you are only saving 3% - 5% of your pay, theres no way you could build a sizeable retirement.


I submit it should be 20% of your pay and do it for 40 years..and that is regardless of your pay
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