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how old are you, and how much do you have saved toward retirement?

How old are you and how much do you have saved for retirement?

  • Over 20 0-20k

    Votes: 20 36.4%
  • Over 20 20-50k

    Votes: 5 9.1%
  • Over 20 50k+

    Votes: 4 7.3%
  • Over 40 0-20k

    Votes: 0 0.0%
  • Over 40 20-50k

    Votes: 2 3.6%
  • Over 40 50k+

    Votes: 21 38.2%
  • Over 60 0-20k

    Votes: 0 0.0%
  • Over 60 20-50k

    Votes: 1 1.8%
  • Over 60 50k+

    Votes: 2 3.6%

  • Total voters
    55
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?

Varaibles are plentiful....
Retirees should have paid off their house by the time they are 60, and gotten completely out of debt. If they can't do that, renting is their only option. My maternal grandparents did it that way, as grandfather never made much money.
Certainly bare bones would be renting a small place, working the coupons when grocery shopping, living close enough to the stores that only one car is needed, if that.
It can be done. Lots of people are in that situation now.
If you want a better retirement, you have to plan for it. Big companies are doing their best to get out of the benefits business, you can bet that the govt will follow suit...
 
Varaibles are plentiful....
Certainly bare bones would be renting a small place, working the coupons when grocery shopping, living close enough to the stores that only one car is needed, if that.
It can be done. Lots of people are in that situation now.
If you want a better retirement, you have to plan for it. Big companies are doing their best to get out of the benefits business, you can bet that the govt will follow suit...
You say “Education is expensive, ignorance is costly.” My position is that one doesn’t need a costly education, just some training to think rationally and critically. And you say “If you are not saving for retirement, you have no brains.” Yes, one needs some wealth from some source for comfortable and enjoyable retirement.
I think we need a bare bones retirement and medical care for the stupid. Unless we’re willing to let stupid starve to death or die from a simple infection that an antibiotic would cure. Private charities don’t have the money and often have other agenda or priorities. Sometimes we forget the following: If we allow the stupid to die we’ll have a culture change that most of smart people will not like. Therefore, I support SS. We need to keep its account separate from other government functions and need to keep it a minimal safety net.
I think we are almost agreeing but coming from somewhat different positions. Amazing.
 
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My position is that one doesn’t need a costly education, just some training to think rationally and critically.

I don't see education as a need, but as a means to understand a particular subject of interest. If one doesn't manage to think critically in HS or undergrad, who knows when/if it's gonna happen. People spend their whole lives without being self aware or progressing beyond that. I seriously doubt an expensive education could change that.
 
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I don't see education as a need, but as a means to understand a particular subject of interest. If one doesn't manage to think critically in HS or undergrad, who knows when/if it's gonna happen. People spend their whole lives without being self aware or progressing beyond that. I seriously doubt an expensive education could change that.

Depends on what they are studying. You can't critically think your way into being a doctor, engineer, lawyer, architect, etc. Most of the time anyway.

Specialized training is important and professionals need that training. We have to be careful when we frame arguments that try to negate the value of education.

Self-awareness isn't necessary to do a job that society needs, but it does definitely help to expand your abilities and what your work means to you.
 
My wife and I are 25, I think combined our retirement and 401k's just topped 20k.
 
You say “Education is expensive, ignorance is costly.” My position is that one doesn’t need a costly education, just some training to think rationally and critically. And you say “If you are not saving for retirement, you have no brains.” Yes, one needs some wealth from some source for comfortable and enjoyable retirement.
I think we need a bare bones retirement and medical care for the stupid. Unless we’re willing to let stupid starve to death or die from a simple infection that an antibiotic would cure. Private charities don’t have the money and often have other agenda or priorities. Sometimes we forget the following: If we allow the stupid to die we’ll have a culture change that most of smart people will not like. Therefore, I support SS. We need to keep its account separate from other government functions and need to keep it a minimal safety net.
I think we are almost agreeing but coming from somewhat different positions. Amazing.

Medical care is a seperate issue....I am for "Obamacare", within reason. There needs to be some serious copays to keep the hypochondriacs at home, and other than mandating insurance from private sources, the govt should stay out of it. I know too many people who say they cannot afford health care insurance, and they are mostly liars. They have cable TV, cell phones, more cars than jobs in the family, go out to eat too often, etc. They are not poor, just selfish.
People can be stupid, and they should pay a price for that. Stupid, my definition, is refusing to learn. If they stubbornly cling to ignorance, refuse education, they get what they deserve. It might take a few generations, but people will learn.
You misunderstand my sig...education is expensive. but worth the price usually. Ignorance is past expensive, it can be very costly....slightly different terminology for a reason. People who choose to stay ignorant are bound to be victims of the educated who have no ethics.
I wouldn't want the ordinary stupid to die, but willful stupidity is different. They need to suffer the most basic subsistence as an example to others who might want to follow in their footsteps. Of my parents' 5 children, 2 of us rejected our parents lax attitude toward education and preparing for retirement and are living well. Another has enough retirement if he would lay off the beer, smokes, and casinos. The other 2 are financial drains on society. One sister had 8 children, most following her in poverty....the brother at least never married or reproduced, that we know of.
We can't continue to let government employees determine the future of the nation by making it too easy to do too little for ourselves. Had a co-worker, single mom, her husband bailed on the family. The state trained her for a good job, and she was grateful. Then the state told her she was eligible for child care at the expense of the state. She said, NO THANKS, that she appreciates the training and the job, but her widowed mom was going to come live with her and the kids and provide the child care. State says, you can still get the child care money, again she said NO.....damn govt employees were doing their best waste funds that could better be used elsewhere.
 
I am not concerned one way or the other about social security. I paid into it so I will collect it, if it is not around oh well.

We make our own financial future.
 
All opinion, based on conservative radio, probably....

I live in Japan. The talk radio station in english that I can get here is NPR.

No trust in government = no trust in our people....not good, IMO.

this isn't a lack of trust in the government - that was a Supreme Court Decision (Flemming v Nestor). You don't have any right to social security benefits, irregardless of whether you "paid in".

If you are under 40 and planning on "Social Security Being There For Me" in retirement.... you need to ramp up savings. Because by the time we get there, Social Security is not going to look like it does today. Ditto for Medicare.
 
Hey, lay off the millionaires.....some of us are them....
Anyone with a brain, useful education, and a good job can accumulate a million....

wrong. you only got it because you were lucky. Brains and hard work will not get you rich because the rich are constantly stealing from everyone else. Hence, you can claim no credit for having done "the right thing" - you're just the more fortunate among us. that is why you must be punished, as a matter of fairness.

:mrgreen:

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.....

then we need to start incentivizing job creation here in the US. why would someone hire an American right now, with no idea how much their employment costs are going to shoot up once Obamacare kicks in? Why would someone really start up a business, knowing that their largest expense (personnel) is utterly unpredictable, the regulatory burden is rapidly increasing, and even if they succeed, if they don't have access to special tax loopholes they will be hit with the highest corporate tax rate (outside of Japan) in the industrialized world? people aren't holding on to their money because they like swimming in it like scrooge mcduck; they want to use that money to make more money. Of those that were going to invest money anyway; huge amounts of their cash went into funding the governments' latest binge borrowing. This administration's attempts to "fundamentally change America" have proven a great wet blanket to job creation, and nobody is hiring because nobody dares.

oh. except McDonalds. you may have heard about them hiring alot of folks recently. total coincidence, I'm sure, that they didn't go on into expansion / hiring mode until after they had gotten their Obamacare waiver.
 
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Medical care is a seperate issue....I am for "Obamacare", within reason. There needs to be some serious copays to keep the hypochondriacs at home, and other than mandating insurance from private sources, the govt should stay out of it. I know too many people who say they cannot afford health care insurance, and they are mostly liars. They have cable TV, cell phones, more cars than jobs in the family, go out to eat too often, etc. They are not poor, just selfish.
People can be stupid, and they should pay a price for that. Stupid, my definition, is refusing to learn. If they stubbornly cling to ignorance, refuse education, they get what they deserve. It might take a few generations, but people will learn.

why would they when we continue to subsidize and incentivize their failure?

We can't continue to let government employees determine the future of the nation by making it too easy to do too little for ourselves.

Amen. Welfare and the like ought to come with required hours of labor.
 
Half the year I live in a place where questioning authority is generally not done. When you go to a doctor don’t ask about treatment options, the one he has chosen for you is correct no matter what your special circumstances might be. When you buy tires for your car they will put the ones on that you should have, they will not hear a repeated request to up section height from 50 to 55. I can go on and on. Most people here have their retirement strategy determined by some authority. An authority because he has a job as a financial advisor, not because he knows what he is doing or because he understands his clients desires. I think it is an education that starts very early that sets this culture up to be like I’m describing. The effect is the same as being stupid, but the source is education.
 
Sorry to read about your problems. You wrote “I know a lot of people that were just so smug with themselves and their jobs and then KaBoom!” Do you think having a safety net like Social Security is a good thing for them and you?

No problems... just life. Thanks though.

I meant that I know, as many of us probably do, people that thought, "I have a great job and the house and car and blah blah blah" and now they are having to walk away from the house, trade in the car and have no retirement for various reasons.

My point is that being secure in your planning is an illusion.

SS? Isn't it failing? I doubt that I will see much, if any, of my SS and I don't plan on having any, so I plan to take care of myself.
 
Μολὼν λαβέ;1059692850 said:
And yes, I consider SS part of my retirement. I paid into it. It's my money.

not according to the Supreme Court it isn't.
 
No problems... just life. Thanks though.

I meant that I know, as many of us probably do, people that thought, "I have a great job and the house and car and blah blah blah" and now they are having to walk away from the house, trade in the car and have no retirement for various reasons.

My point is that being secure in your planning is an illusion.

SS? Isn't it failing? I doubt that I will see much, if any, of my SS and I don't plan on having any, so I plan to take care of myself.

SS is not failing, it still has a surplus of money that is counted as special intragovernment bonds that earn a low rate of return. It will be under pressure in the future without some changes to it. The federal government will also have to transfer some funds from general revenues to SS to pay for the borrowing from it. But with changes to retirement dates, lowering benifits, and potentionally increasing contribution rates and it will be fine. Not to mention if it was able to actually invest in things other then the Federal government bonds
 
nearly 50 and I haven't saved a dime....I plan on living off social security :roll:
 
Didn't respond to poll being that ya missed some cattagories! In a couple yrs. we will sell house Hopefully break even?) Anyway I have enough cash to purchase my "dream MH" & then some! Plan on touring US with motorcycle in tow! Live off Mongo's pension & hopefully some SS. Probably add to income by selling some of my art. Biggest concern would be health insurence.
 
SS is not failing, it still has a surplus of money that is counted as special intragovernment bonds that earn a low rate of return. It will be under pressure in the future without some changes to it. The federal government will also have to transfer some funds from general revenues to SS to pay for the borrowing from it. But with changes to retirement dates, lowering benifits, and potentionally increasing contribution rates and it will be fine. Not to mention if it was able to actually invest in things other then the Federal government bonds

We are in a recession, the government is about to go into default (the House just passed the plan minutes ago) and the government has done nothing to raise the age of retirement in 70 years... I think that it is safe to assume the SS won't serve me much, if anything, by the time I am able to retire.
 
wrong. you only got it because you were lucky. Brains and hard work will not get you rich because the rich are constantly stealing from everyone else. Hence, you can claim no credit for having done "the right thing" - you're just the more fortunate among us. that is why you must be punished, as a matter of fairness.

:mrgreen:



then we need to start incentivizing job creation here in the US. why would someone hire an American right now, with no idea how much their employment costs are going to shoot up once Obamacare kicks in? Why would someone really start up a business, knowing that their largest expense (personnel) is utterly unpredictable, the regulatory burden is rapidly increasing, and even if they succeed, if they don't have access to special tax loopholes they will be hit with the highest corporate tax rate (outside of Japan) in the industrialized world? people aren't holding on to their money because they like swimming in it like scrooge mcduck; they want to use that money to make more money. Of those that were going to invest money anyway; huge amounts of their cash went into funding the governments' latest binge borrowing. This administration's attempts to "fundamentally change America" have proven a great wet blanket to job creation, and nobody is hiring because nobody dares.

oh. except McDonalds. you may have heard about them hiring alot of folks recently. total coincidence, I'm sure, that they didn't go on into expansion / hiring mode until after they had gotten their Obamacare waiver.
Lucky? 18 and out was the rule in our house. Then there was the draft hanging over my head. Lucky that I was interested in science, math, etc. and did well on the Navy's tests, so yeah, some luck.
No influential family or friends to help me get jobs, get promotions, etc.
But Lucky that I married well, to a poor farm gal who didn't feel that THINGS are a measure of wealth. People who think that often spend themselves into a poor retirement.
The best thing we can do for the nation is to detach benefits from the jobs, AND the govt.
Wall Street will suffer, tho, if they don't have the trillions in retirement funds to steal from....but it would be interesting to see all the yuppies having to sweat for their wages instead of siphoning their wages from funds entrusted to their care....
 
nearly 50 and I haven't saved a dime....I plan on living off social security :roll:

and your military retirement? I get 3/8 base pay for my 12 years active and 10 years reserves, plus don't have to pay for the medicare supplement, or part D. Hang in there, get your 20....
 
Absolutely not, It wont be there when I retire and I am 50...I am still firm in my beleif that chance favors the prepared mind.
 
I am 54 and I do not count on SS being there when I retire. It would be nice if it was but I am not counting on it. I figure, after I retire, according to wonderful jewish accountant, with my pensions, mutuals, business residuals and natural gas royalties, coupled with the sale of my home, I should have around 2.25 - 3.0 million to get me through my twilight years, (assuming we don't go into depression or the people the GOP tends to protect gets at my money again, like they did a few years ago.) Truly, spread out over a period of 20 years or so, that really isn't a helluva lot of money to have on hand. But I'm a man of simple means. I plan to retire in a simple beach house near the Gulf of Mexico and as long as I can pay my utility bills and the other daily nickle and dime bills that come along day to day, and still afford fishing tackle and bait, I'll do just fine.
you dont need to worry about the people the GOP get you will be target of your own kind...with that kind of Dough.....the leeches will strip you clean.
 
Lucky? 18 and out was the rule in our house. Then there was the draft hanging over my head. Lucky that I was interested in science, math, etc. and did well on the Navy's tests, so yeah, some luck.
No influential family or friends to help me get jobs, get promotions, etc.
But Lucky that I married well, to a poor farm gal who didn't feel that THINGS are a measure of wealth. People who think that often spend themselves into a poor retirement.
The best thing we can do for the nation is to detach benefits from the jobs, AND the govt.
Wall Street will suffer, tho, if they don't have the trillions in retirement funds to steal from....but it would be interesting to see all the yuppies having to sweat for their wages instead of siphoning their wages from funds entrusted to their care....

please. evil corporations and trust fund babies keep anyone from becoming rich. obviously you just got lucky and it is only fair for the government to redistribute your wealth to me :D
 
We are in a recession, the government is about to go into default (the House just passed the plan minutes ago) and the government has done nothing to raise the age of retirement in 70 years... I think that it is safe to assume the SS won't serve me much, if anything, by the time I am able to retire.

You are working in New Zealand, correct? Do you pay into SS when working in New Zealand? If no, I would not expect that you would be getting very much anyway (missing a few years of contribution)
 
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