View Poll Results: How old are you and how much do you have saved for retirement?

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  • Over 20 0-20k

    23 37.70%
  • Over 20 20-50k

    5 8.20%
  • Over 20 50k+

    5 8.20%
  • Over 40 0-20k

    1 1.64%
  • Over 40 20-50k

    2 3.28%
  • Over 40 50k+

    22 36.07%
  • Over 60 0-20k

    0 0%
  • Over 60 20-50k

    1 1.64%
  • Over 60 50k+

    2 3.28%
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Thread: how old are you, and how much do you have saved toward retirement?

  1. #111
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    Re: how old are you, and how much do you have saved toward retirement?

    Quote Originally Posted by American View Post
    What is a liberal doing with all those assets? You turn that over to Uncle Sam, at once!
    indeed, it would seem that Captain America is one of the evil "Millionaires And Billionaires" that haven't been paying their fair share.

  2. #112
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    Re: how old are you, and how much do you have saved toward retirement?

    Quote Originally Posted by earthworm View Post
    Of course it is "savings"....of a sort...
    We have accounts with social security; simply request a statement.

    no, it is not "savings" of a sort. you have no assets, no money, no paper, no claim to anything. The FDR Administration and the Supreme Court have both been clear on this - however much you pay into the system, you do not have any right whatsoever to draw a single penny from Social Security. The US Congress could pass a measure tomorrow saying "BTW, Screw Earthworm" and you would be stuck paying in with no benefit for the rest of your life and there wouldn't be a thing you can do about it. It is "savings" in the sense that a Ponzi scheme is an "investment".

    you don't have "accounts", what you have are estimations due to the fact that Social Security benefits are calculated off of your high-earning years. when you put in your current income, historical income, and age, they assume a set percentage of continued growth in your wage, take out the proper number of high-paying years, and calculate a benefit from that.
    Last edited by cpwill; 07-28-11 at 09:34 AM.

  3. #113
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    Re: how old are you, and how much do you have saved toward retirement?

    Quote Originally Posted by cpwill View Post
    you are being very wise - I wish I had started at 21. I was stupid and waited a full 3 years later. I think I will have some kind of a match program for my kids when they start their teenage jobs to get them into it early.


    I am 28, and have about 30K. I say about because I had 30K... before this debt crises thing. I max out my IRA every year now, and am thinking of starting one for my wife.



    Bluntly Put: SS will not be there for me. Medicare will be radically different assuming I qualify for it. Plan on no SS if you are under 45, and if anything is left, you get to be surprised in a good way rather than the bad.
    All opinion, based on conservative radio, probably....
    No trust in government = no trust in our people....not good, IMO.

  4. #114
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    Re: how old are you, and how much do you have saved toward retirement?

    Quote Originally Posted by cpwill View Post
    you are being very wise - I wish I had started at 21. I was stupid and waited a full 3 years later. I think I will have some kind of a match program for my kids when they start their teenage jobs to get them into it early.


    I am 28, and have about 30K. I say about because I had 30K... before this debt crises thing. I max out my IRA every year now, and am thinking of starting one for my wife.



    Bluntly Put: SS will not be there for me. Medicare will be radically different assuming I qualify for it. Plan on no SS if you are under 45, and if anything is left, you get to be surprised in a good way rather than the bad.
    you are being financially conservative, a good thing.....something that even liberals can do....
    Oracle of Utah
    Truth rings hollow in empty heads.

  5. #115
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    Re: how old are you, and how much do you have saved toward retirement?

    Of course it is "savings"....of a sort...
    We have accounts with social security; simply request a statement.
    I'll give ya a statement.

  6. #116
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    Re: how old are you, and how much do you have saved toward retirement?

    Quote Originally Posted by cpwill View Post
    that is not a savings. that money was immediately sent to a current retiree.
    as a current SS recipient, I thank you. Much of that money has already gone into education savings for our grandchildren so they will have a better chance at being gainfully employed. Assuming there are jobs to be had, of course....
    Oracle of Utah
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  7. #117
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    Re: how old are you, and how much do you have saved toward retirement?

    Quote Originally Posted by cpwill View Post
    indeed, it would seem that Captain America is one of the evil "Millionaires And Billionaires" that haven't been paying their fair share.
    Hey, lay off the millionaires.....some of us are them....
    Anyone with a brain, useful education, and a good job can accumulate a million....it really isn't that much anymore.
    SS needs to be slowly reduced til it provides only a bare bones existence. That should be incentive enough for the able bodied and average intellect to save for the future.
    Of course, the rich have to provide jobs here in the USA.....
    Oracle of Utah
    Truth rings hollow in empty heads.

  8. #118
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    Re: how old are you, and how much do you have saved toward retirement?

    Quote Originally Posted by Harry Guerrilla View Post
    To add, I started about 3 1/2 years ago, I'm 28 and have over $10k put back.
    About to move, my expenses are expected to go down, allowing me to put more towards my general savings/retirement fund.
    Thinks you are doing great .. remember the 10% rule and you will have no worries when you reach retirement age ..

  9. #119
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    Re: how old are you, and how much do you have saved toward retirement?

    Just turned 60 , well above the top listing in retirement programs.

    The worst part with me is, I love what I do .. and have no plans to retire until forced out, or should something health related force me to retire.

    But even then I will have an income, I'm one of the few small players in the commodity markets that does okay, sadly today with all the volatility in the markets today, it's much harder for people with smaller bankrolls to even try and get started. When I began over 15 years ago .. I was able to start with just $2,500 and had returned that money to my savings account in just over 4 months.

    I also a small time coin collector and sell a bit on e-bay to a tune of making 300 to 500 a month there. My problem right now .. is trying to figure out when gold and silver are going to top out of my gold coins .. I have 30 or so that are duplicates and should be gotten rid of -chuckles- but I guess I'm a bit of a hoarder I just find it hard to get rid of things that I've collected.... Both of these things I do as a home based business, and needless to say if done right there are tax advantages

    so all and all I feel comfortable in being able to live out my life in a comfortable manner.

    I guess if I was to give a youngster advice it would only be two things .. to me both are equally important .. first it was drilled into me at a very early age to pay yourself 10% of whatever you make .. no matter how tough it is to do I don't care if you only make 25 dollars a week cutting grass when you are in your early teens 2.50 of that has to go into savings the earlier in life you learn to do that .. the easier it gets as you grow older to keep doing. Pay yourself first and foremost and do what you have to do to live off of 90% of your earnings.

    Next would be to find something that you are truly passionate about if you can't make a living doing it then do it as a side line or part time, you will get as much satisfaction from making even 50 or 100 a month, as you will from your full time job . and eventually you will reap even more rewards from it . because when a person is passionate about something, they usually end up being very good at it

  10. #120
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    Re: how old are you, and how much do you have saved toward retirement?

    Quote Originally Posted by UtahBill View Post
    Hey, lay off the millionaires.....some of us are them....
    Anyone with a brain, useful education, and a good job can accumulate a million....it really isn't that much anymore.
    SS needs to be slowly reduced til it provides only a bare bones existence. That should be incentive enough for the able bodied and average intellect to save for the future.
    Of course, the rich have to provide jobs here in the USA.....
    You are making some points that I agree with. I'm wondering how much bare bones existence is. I get $1704 a month. If I had earned more or was employed for another year I would have paid more SS tax I'd get a bit more and be maxed out. So given COL today what would a bare bones amount for me be?

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