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I doubt this forum will attract them but I suspect a lot of people out in the world in their 20's, 30's, and even 40's have no retirement savings, and perhaps no savings account either...what do these people rely on or how do they generally get by when they can no longer work?
My information:
26, single
$1,500 in 401k, just started my full time job in November, growth has been sluggish, about 2% so far.
$6,000 in a Roth IRA mutual fund, have had that one for a little over 3 years.
$2,500 in mixed savings accounts through the bank, my emergency fund for whatever life throws at me, contribute to it every day.
At age 23 I had $0 in savings to my name, just the thousand or so in my checking account.
I doubt this forum will attract them but I suspect a lot of people out in the world in their 20's, 30's, and even 40's have no retirement savings, and perhaps no savings account either...what do these people rely on or how do they generally get by when they can no longer work?
My information:
26, single
$1,500 in 401k, just started my full time job in November, growth has been sluggish, about 2% so far.
$6,000 in a Roth IRA mutual fund, have had that one for a little over 3 years.
$2,500 in mixed savings accounts through the bank, my emergency fund for whatever life throws at me, contribute to it every day.
At age 23 I had $0 in savings to my name, just the thousand or so in my checking account.
My retirement savings isn't as impressive as most on this board, but I finished undergraduate later than some (25) and came from a poor family (no inheritance).
Age: 29
Traditional 401k: $14,000
Roth 401k: $13,000
Upside is no student loans though! Plus two liquid six-month emergency funds! :-D I'm doing okay, right? ... Right?
My retirement savings isn't as impressive as most on this board, but I finished undergraduate later than some (25) and came from a poor family (no inheritance).
Age: 29
Traditional 401k: $14,000
Roth 401k: $13,000
Upside is no student loans though! Plus two liquid six-month emergency funds! :-D I'm doing okay, right? ... Right?
You're doing great, and as long as you stay the course, you'll be fine. You probably have far more than most people your age. This forum becomes somewhat of a "bragging corner" and is not anywhere near representative of the population at large.
You're doing great, and as long as you stay the course, you'll be fine. You probably have far more than most people your age. This forum becomes somewhat of a "bragging corner" and is not anywhere near representative of the population at large.
Absolutely. If I had 0 in my 401k I wouldn't post here for sure.
brag update? LOL! sure will, but only because it was hard work/sacrifice me/50 wife/47
457...444619
403...164297
roth...150000
accrual fund..32000
Ally savings...89000
Dominion stock..4000 wish we had bought more
house paid off/worth 450000-550k
my pension 75k,,,wife just stopped working after recent car accident....looks like 100k settlement soon
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