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re: Beginner's Tactics for Investing - Young and Self-Employed
Posted on 6/24/14 at 11:45 am to geauxbears08
Posted on 6/24/14 at 11:45 am to geauxbears08
I agree that $500k is more than likely not enough money for retiring at the age of 60. On the other hand, I have a hard time believing that the majority of Americans will have $500k or more saved up at the age of 60.
3
Posted on 6/24/14 at 12:39 pm to RickAstley
quote:
On the other hand, I have a hard time believing that the majority of Americans will have $500k or more saved up at the age of 60.
What does this have to do with your expectation of what you will need to retire? Are you expecting the government to bail everyone out and give them free money to retire? Or are you expecting all of those people to have to work until they are 80 to retire?
Posted on 6/24/14 at 1:46 pm to RickAstley
quote:
On the other hand, I have a hard time believing that the majority of Americans will have $500k or more saved up at the age of 60.
For sure. That's why the majority of Americans ain't gonna retire at 60.
Posted on 6/25/14 at 9:56 am to RickAstley
quote:
I have a hard time believing that the majority of Americans will have $500k or more saved up at the age of 60
I'd be terrified if I didn't have twice that when I turned 60.
I may make some stupid decisions regarding money every now and then and I may not always max out my Roth contributions, but I never miss contributing at least 16% every month to my retirement savings one way or another.
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