Retirement

[Sheik]

Assuming by the time you retire, your house is paid for, no car payments, no outstanding debt, how much money would you need to retire comfortably?

Was listening to talk radio today and this question was posed.

Lets assume everyone retires at 65, and you live to be 85. How much would you need saved before you feel comfortable?

 

[JBond]

$2 million minimum.

 

[ThoughtExperiment]

Yeah, voted 500+ but I think it would need to be substantially more than 500.

 

[dbair1967]

I figure I will retire and live off the income of a forum like DCU. I know there's big money in this stuff.

 

[bbgun]

Depends on your lifestyle. Do you want to live well (travel, spoil the grandchildren, etc.) or just get by?

 

[Sheik]

The show I was listening to, there were some really shocking numbers.

One that stuck out to me, 29% of people that retired in 2013 had less than $1,000 saved.

 

[bbgun]

so they're relying on SS and medicare? wow. the problem is that pensions are becoming a thing of the past in the private sector, meaning dumb people are on their own when it comes to saving, investments, planning, etc.

 

[Sheik]

I guess.

 

[Sheik]

I can't help but wonder how many of that 29% had a retirement plan of maybe hitting the lottery someday.

 

[JBond]

Yeah, voted 500+ but I think it would need to be substantially more than 500.

The RV, boat and Jet ski's are going to set me back by about $300k alone. As BB mentioned, I plan on spoiling the heck out of my grandkids and I plan on traveling a ton. Plus I want to pass on a decent amount to my kids.

 

[JBond]

so they're relying on SS and medicare? wow. the problem is that pensions are becoming a thing of the past in the private sector, meaning dumb people are on their own when it comes to saving, investments, planning, etc.

Those of us in our 30's and 40's would be crazy to rely on the government for anything.

 

[Sheik]

I'll be at the track everyday when I retire, so I may have to go back to work at 67.

 

[CobraKai]

I'm going to let the taxpayers foot the bill and live in South America.

 

[Jon88]

I always put money away after I get paid but I'm not even going to think about retirement right now.

It's like they want us to be robots - always thinking about work and going as far as you can with it, having the latest cars, clothes, a nice house, vacations etc. and then worrying about retirement all at the same time.

Fuck that

 

[peplaw06]

Yeah, if you have any plans of traveling and having fun living your life when you retire then you have to go more than 500k.

 

[Rock Slamdance]

$500.

 

[Bob Sacamano]

Does the comedian union have a 401K, rock?

 

[Midswat]

Morning pops

 

[Midswat]

<---- gonna work until the day I die

 

[2233boys]

I plan on retiring in 10 years