• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

How much have you saved for retirement, not counting SS?

How much to you have saved for retirement?

  • $0.00 - Social Security is my plan

    Votes: 6 8.8%
  • 0-10K

    Votes: 2 2.9%
  • 10-25K

    Votes: 7 10.3%
  • 25-50K

    Votes: 1 1.5%
  • 50-75K

    Votes: 3 4.4%
  • 75-100K

    Votes: 3 4.4%
  • 100-200K

    Votes: 3 4.4%
  • 200-400K

    Votes: 9 13.2%
  • 400K+

    Votes: 33 48.5%
  • I have yet to decide a retirement stategem

    Votes: 1 1.5%

  • Total voters
    68

Renae

Banned
Suspended
DP Veteran
Joined
Aug 26, 2007
Messages
50,241
Reaction score
19,243
Location
San Antonio Texas
Gender
Female
Political Leaning
Conservative
[FONT=&quot]If you're overwhelmed by [/FONT]the financial responsibilities of day-to-day life[FONT=&quot] and more focused on making it to the end of the month than on the possibility of being able to save for the distant future, you're not alone. In fact, the vast majority of Americans have under $1,000 saved and half of all Americans have nothing at all put away for retirement.
[/FONT]
[FONT=&quot]"Nearly half of families have no retirement account savings at all," the Economic Policy Institute (EPI) [/FONT]reported[FONT=&quot], even in savings vehicles such as [/FONT]IRAs[FONT=&quot] and [/FONT]401(k)s[FONT=&quot]. The median for U.S. families is just $5,000, and the median for families with some savings is $60,000.[/FONT]
https://www.cnbc.com/2017/06/13/her...have-nothing-at-all-saved-for-retirement.html

It's a private poll so don't feel called out, I'm curious how reflective these reports are.
 
None, but then again I am a full-time student and Canadian.
 
I retired in 2000 and worked for 34 years at a major company. I put in the maximum amount toward my 401k account and the company matched it at 50%. I and my wife (who worked at the same company for 30 years) are set for life. My home is paid off and I own two autos free and clear.
 
37 here, and I figure I'm only at 20-25k in my 401k, give or take. Wife is about the same.

I put 10%, company does a 50% match up to 6% salary.
 
37 here, and I figure I'm only at 20-25k in my 401k, give or take. Wife is about the same.

I put 10%, company does a 50% match up to 6% salary.

My company is similar, I put 15% and they match I think 3% but that also includes quarterly bonuses, plus I am enrolled in our company stock program that buys in bulk every 6 months at 5% off the average of that last days closure.
 
41, and have next to nothing. Some Social Security, no 401K. Still have lots of debt (Ph.D, piled high and deep) . Academic low paying jobs with no benefits for like 12 years, had to cash out what little 401K I had during unemployment. And I work for a state where they have their own garbage pension but it requires 10 years to get any benefits and I'm not paying into SS. So I'll probably never get to retire. And my current pay sucks, although looking for new jobs

Hey, plus, recently paid off my car payments, so I own my car
 
41, and have next to nothing. Some Social Security, no 401K. Still have lots of debt (Ph.D, piled high and deep) . Academic low paying jobs with no benefits for like 12 years, had to cash out what little 401K I had during unemployment. And I work for a state where they have their own garbage pension but it requires 10 years to get any benefits and I'm not paying into SS. So I'll probably never get to retire. And my current pay sucks, although looking for new jobs

Hey, plus, recently paid off my car payments, so I own my car

Academic life is not as rosey as people believe.

Good luck.
 
41, and have next to nothing. Some Social Security, no 401K. Still have lots of debt (Ph.D, piled high and deep) . Academic low paying jobs with no benefits for like 12 years, had to cash out what little 401K I had during unemployment. And I work for a state where they have their own garbage pension but it requires 10 years to get any benefits and I'm not paying into SS. So I'll probably never get to retire. And my current pay sucks, although looking for new jobs

Hey, plus, recently paid off my car payments, so I own my car

Well our real retirement is hinged on the company my wife works for selling. It's a start up that intended to be sold, she's looking at 500K+ right now and if they don't sell for another 5 years? Chances are that number will go up substantially. Personally I think the owners are holding out for a large payout and we're more likely to break into the 1-2mill range, but I'm not holding my breath for that much.
 
I'd rather not answer such a personal question.
 
I'd rather not answer such a personal question.

A: You need not say anything.
B: It's an anon poll seeing how closely DP matches the findings in the OP Link.
 
A persons age is important to this poll.
 
41% of dp posters have saved over 400K toward retirement.
53% of dp posters have saved over 200K toward retirement.
Less than 6% have saved less than 10K.

I didn't realize this whole website was so well off.
 
In RRSP (can equivalent to 401k) 230 k
Rental property fully paid off worth 200 k
60 k in cash
Does not include equity in house or cars values
 
My company is similar, I put 15% and they match I think 3% but that also includes quarterly bonuses, plus I am enrolled in our company stock program that buys in bulk every 6 months at 5% off the average of that last days closure.

Buy the stock...but diversify it as soon as possible

Don’t keep more than 10% of your total portfolio in your company....

Love the fact that you are using what is available, but company stock plans have to be watched

And too many never diversify out of them...
 
I paid off my house in December, will be using the extra $$ to fix it up. I reached fully vested status with my employers contribution to my 401(k) last month. I hope to be able rent out the house when I retire and live somewhere tropical and cheap along with my 401(k) and SS bux.
 
41% of dp posters have saved over 400K toward retirement.
53% of dp posters have saved over 200K toward retirement.
Less than 6% have saved less than 10K.

I didn't realize this whole website was so well off.

Some people like to screw around with anon polls. The over 400K is clearly being inflated. The rest is probably accurate, though.
 
Buy the stock...but diversify it as soon as possible

Don’t keep more than 10% of your total portfolio in your company....

Love the fact that you are using what is available, but company stock plans have to be watched

And too many never diversify out of them...

I am planning 2 year cycles, let it build, and then go from there.
 
41% of dp posters have saved over 400K toward retirement.
53% of dp posters have saved over 200K toward retirement.
Less than 6% have saved less than 10K.

I didn't realize this whole website was so well off.

Again age of members responding is a key factor. Myself am 55, live and work in the North East, higher income area. 400K is nothing in my world (not bragging, but complaining), that said I will retire on the comfortable side of things even if I stay where I am. If we move south as planned or even border hop, even better.
 
72 now, so will look back to age 65.....
2 houses, paid for, 1 in AZ and 1 in Utah, 3 cars (not new but new enough for us). We have lived debt free since age 55.

Retirement INCOME is the most important factor, ask yourself if you have enough income to house you and your spouse in the kind of health care facility that Alzheimers's disease requires.
Without that, your kids will have to sell your house for you, and hope you don't outlive that amount..
 
less than $10k, but I've only been out of school a short while.
 
In terms of actual savings, not much....both my homes are paid off, and I retired from the service in 2008 with lifetime pension.
I am 51 now, and began working again a few weeks after I retired...I plan to work until I can draw my second retirement and Social Security at 62.
 
less than $10k, but I've only been out of school a short while.

You know, my son just entered the workforce. I sat him down and stressed that the moment he gets a job, to get a 401k set up and start paying even 5% of his pay into it. And he did, at 18 he has started it. When he's my age, he's going to be secure in his future. Start early, it's worth it.
 
I find it interesting how well off the DP forums are compared to the national average.
 
I find it interesting how well off the DP forums are compared to the national average.

I am 64 and my girlfriend is 65. We have no retirement savings or private pensions (she does have a small share of an inherited oil/gas lease and access to a trust fund for medical expenses) and we basically live on our Social Security retirement income - my SS is $1,800/month and hers is $800/month (but hers would rise to $1,800/month if her ex dies - thus we won't marry).

We still work some (running a self-employed handyman business) and use that (tax free cash) bonus income to buy luxuries. Our most recent luxury purchase (about $11K last month) was a used 28' travel trailer and we are now saving to buy a 14' enclosed cargo trailer for use as a mobile tool shed.

Our rent (of a single-wide mobile home on just under 1/2 acre) is currently very low ($300/month) so we can live quite comfortably and can easily afford utilities, cable TV, internet and occasional travel.
 
Age is an important factor to this poll. I am 41. I have just over 200k in my 401k right now. I put 13% of my income in it, and the company does a 50% match to 6% (those old high matches are thing of the past for most of us). I also contribute to an HSA. Our home is on a 15 year and thus will be paid off well before I reach retirement.

I have been strict about maintaining a good whole foods diet my whole life, run 30 miles a week, lift 4 to 5 days a week. I have done that pretty much my entire adult life. I am mentioning this because keeping yourself strong and in good health can you hundreds of thousands of dollars in medical expenses during retirement, yet a lot of people don't think about it that way.
 
Back
Top Bottom