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"Even more disappointing; The savings rates have barely changed over the past three years, even though a larger percentage of consumers report an increase in job security, a higher net worth and an overall better financial situation."
Is it possible that with all the safety nets available, there is no need to fear something not going to plan?
As far as safety nets,me personally,I'm not putting anything into a retirement account.
That's what Social Security is for.
Besides,its not like I have anything to put in a retirement account after monthly expenses anyway
As far as safety nets,me personally,I'm not putting anything into a retirement account.
That's what Social Security is for.
Besides,its not like I have anything to put in a retirement account after monthly expenses anyway
SS was passed as a SUPPLEMENTAL source of income for retirees.
Who cares anyway, we'll just blow all of our money on useless crap and stick it to the next generation. It's the American way!
Not me. I've got enough saved to fund a quality lifestyle through my retirement years. As for others, if they wish to be frivilous, I'm not responsible for them. They may simply need to work extensively past the normal retirement age..just to scrape by.
Not me. I've got enough saved to fund a quality lifestyle through my retirement years. As for others, if they wish to be frivilous, I'm not responsible for them. They may simply need to work extensively past the normal retirement age..just to scrape by.
Im fairly young,but there is nothing nowadays to save.
I can't understand the older generation. You guys had it so much easier than we do.
Not me. I've got enough saved to fund a quality lifestyle through my retirement years. As for others, if they wish to be frivilous, I'm not responsible for them. They may simply need to work extensively past the normal retirement age..just to scrape by.
Quote:
Originally Posted by jerseygal4u
Prove it.
I thought it was supposed to be retirement income?
What's the point of them taking money out of my paycheck for something that's supposed to be supplemental?
Something isn't making sense....my employer doesn't offer a retirement plan.
Look it up. It's pretty much common knowledge. Social security was never in any way intended to be a retirement plan.
Quote:
Originally Posted by jerseygal4u
Im fairly young,but there is nothing nowadays to save.
I can't understand the older generation. You guys had it so much easier than we do.
Prove it.
I thought it was supposed to be retirement income?
What's the point of them taking money out of my paycheck for something that's supposed to be supplemental?
Something isn't making sense....my employer doesn't offer a retirement plan.
Because added to a 401k, it provides a far more sound plan for retirement than either would individually.
A 401k, quite common, is largely employer financed, with most contributing at least 3-4% when an employee contributes 6%. The 6% , by the way, LOWERS your taxes, so if you pay 25% in taxes, 6% costs you 4.5%. But you get an impact of 9-10% (your 6%,PLUS employers 3-4%, for your 4.5% cost).
Because added to a 401k, it provides a far more sound plan for retirement than either would individually.
A 401k, quite common, is largely employer financed, with most contributing at least 3-4% when an employee contributes 6%. The 6% , by the way, LOWERS your taxes, so if you pay 25% in taxes, 6% costs you 4.5%. But you get an impact of 9-10% (your 6%,PLUS employers 3-4%, for your 4.5% cost).
Where have you been the last 10 years?
Employers have been doing away with contributing to retirement accounts.
Where have you been the last 10 years?
Employers have been doing away with contributing to retirement accounts.
Pensions have declined-401k are incredibly common. Employers usually match contributions by employees. Mine puts in 2% gross-automatically, with 3% on my first 3%, 1% more on my next 2%.
So 5% per tax, which costs me 3.5% or so post tax, gets me 11%. My 5%, employers 2% even if I contribute squat, plus 4% employer match on my 5%.
3.5% gets me 11%. Ca-ching.
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