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How important is a solid retirement plan?
Posted on 4/18/16 at 10:21 am
Posted on 4/18/16 at 10:21 am
It seems like there are 100's of different strategies out there but finding honest answers is next to impossible.
No better place for unfiltered honesty than the OT lounge...
Fire away!
No better place for unfiltered honesty than the OT lounge...
Fire away!
16
Posted on 4/18/16 at 10:22 am to ptper09
money board and important if you ever plan on retiring.
Posted on 4/18/16 at 10:22 am to ptper09
I'll worry about retirement when I get there
Posted on 4/18/16 at 10:23 am to ptper09
Strongly recommend that you take this to Money Talk. Will point you in the right direction. Yes, it's very important. Short answer is max out your 401(k) and also Roth IRA for tax diversification.
Posted on 4/18/16 at 10:25 am to ptper09
Contribute to your jobs 401k plan at least up their total match amount. If you can max out your IRA each year. You do this and you'll probably be better off than 95% of Americans
Posted on 4/18/16 at 10:26 am to ptper09
Quite important if you don't have a large inheritance.
Should be something else they teach in high school, but don't. Every kid who turns 18 should be set up with an IRA and have it explained to them.
Should be something else they teach in high school, but don't. Every kid who turns 18 should be set up with an IRA and have it explained to them.
Posted on 4/18/16 at 10:27 am to ptper09
Whatever you do, DO SOMETHING
Posted on 4/18/16 at 10:31 am to ptper09
In general, don't be short sighted ever. Take full advantage of your employer's retirement benefits.
Posted on 4/18/16 at 10:46 am to ptper09
It's the main reason I haven't left my current place of employment.
Hospital is part of AZ's retirement pension plan. I'm a little over a year away from being 100% vested in the plan. From what I was told....if for example I have 100k at 10 years....the day I make 10 years employment that pot doubles to 200k and then my contributions are matched 100%.
I know many coworkers that can't stand their job anymore.....but don't want to give up the retirement benefits.
Hospital is part of AZ's retirement pension plan. I'm a little over a year away from being 100% vested in the plan. From what I was told....if for example I have 100k at 10 years....the day I make 10 years employment that pot doubles to 200k and then my contributions are matched 100%.
I know many coworkers that can't stand their job anymore.....but don't want to give up the retirement benefits.
Posted on 4/18/16 at 10:47 am to ptper09
Step 1. Live off less than you make. The higher percent you save the better.
Posted on 4/18/16 at 10:48 am to lsunurse
quote:
From what I was told.
I'm sure it's in writing somewhere, you may want to look it up
Posted on 4/18/16 at 10:50 am to ptper09
quote:
How important is a solid retirement plan?
It depends.
Do you want to retire one day?
Posted on 4/18/16 at 10:50 am to ptper09
Buy as many bitcoins as possible.
Posted on 4/18/16 at 10:50 am to TigerSaints318
Also start saving with your first job out of college. I never did any retirement saving for the first 6 years of my nursing career cause I wanted more in take home pay. Wish I would have just started right away. You don't miss what you aren't used to spending anyways.
Posted on 4/18/16 at 10:51 am to ptper09
quote:
How important is a solid retirement plan?
Well, that depends.
1. Do you plan on retiring?
2. If so, do you want to actually enjoy your retirement?
If you answered yes to either, then having a solid retirement plan is pretty damn important.
Posted on 4/18/16 at 10:51 am to ptper09
quote:
How important is a solid retirement plan?
Do you want to retire someday? If so, it's pretty important to have a solid plan and be putting money away today for it, regardless of your age.
Posted on 4/18/16 at 11:02 am to lsunurse
quote:frick that. New money = spend it all
Also start saving with your first job out of college
Posted on 4/18/16 at 11:04 am to ptper09
I don't worry too much about it. I doubt I'll live much longer than mid 60's
Posted on 4/18/16 at 11:07 am to ptper09
Not important, just yolo.
You get taxed from retirement plans when you take them out anyway. By the time those 45 and under retire it will be such a cluster with social security going bankrupt that the planners will be fricked either way as saving and preparing will be seen as racist or unfair somehow.
You get taxed from retirement plans when you take them out anyway. By the time those 45 and under retire it will be such a cluster with social security going bankrupt that the planners will be fricked either way as saving and preparing will be seen as racist or unfair somehow.
Posted on 4/18/16 at 11:11 am to RogerTheShrubber
quote:I plan and save a good bit for my retirement
I don't worry too much about it. I doubt I'll live much longer than mid 60's
However, you usually dont hear old people say "I wish I had saved more for retirement" as they are dying
One theory is spend your money while you are young enough to enjoy it, instead of saving it all for when you cant. I think the answer lies in the middle
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