- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: This Is What Life Without Retirement Savings Looks Like
Posted on 2/23/18 at 8:17 am to Mingo Was His NameO
Posted on 2/23/18 at 8:17 am to Mingo Was His NameO
I’m guessing he doesn’t earn income or he’s 1099 and doesn’t pay his taxes.
0
Posted on 2/23/18 at 8:18 am to jlovel7
quote:
I’m 23 and just started a company matched Roth IRA and am talking to the firms financial manager about college funds on Tuesday. If I don’t have money for retirement it won’t be because I fricked up.
Why on Earth would this get downvoted? This guy's doing it right.
Max out that 401k if you don't have to go homeless to do it. 55 year old retired or semi-retired you will thank you.
This post was edited on 2/23/18 at 8:22 am
Posted on 2/23/18 at 8:19 am to soccerfüt
quote:
the median savings in a 401(k) plan for people between the ages of 55 and 64 is currently just $15,000
If you’re 64 with only 15k in 401k savings, you have a serious problem. You’ve either drawn against it, or didn’t contribute at all.
I wonder if this factors in that a lot of 55-64 year olds have pension plans? Technically you couldn’t count their pension as having a lot in 401k savings.
Posted on 2/23/18 at 8:20 am to TigerstuckinMS
quote:Sounds great now, but wait till the kids hit college first till we jump to that conclusion.
50 year old retired you
Posted on 2/23/18 at 8:21 am to BulldogXero
quote:
Where are they getting the money to afford the down payment to make that reasonable?
Saved up money? Parents?
I did both.
Posted on 2/23/18 at 8:23 am to Mingo Was His NameO
quote:
Who's fault is that?
It’s the system, and the truly narrow minded are those who assume they would be different than everyone else doing the exact same thing, in keeping with the mindset of giving your kids better than you had growing up. To be so harsh in judgement is to really be dishonest with one’s own self that you would quite probably do the exact same if placed in similar circumstances as another person who found themselves in the same predicament paying for private school, college, after school activities, and giving their kids all they possibly could, only to find their kids so fricking ungrateful for it that they would scorn them for not having the means in their later years. Of course, they probably thought their kids might then take care of them a little and reciprocate.
But to think we’ve learned something from it is fool hearty, as the mounting debt from college financial aid shows that nobody’s learned a damn thing. We still want to spend what we don’t have and worse yet, many want that fricking debt forgiven. No.. we’ve not learned jack shite.
Posted on 2/23/18 at 8:24 am to OleWarSkuleAlum
quote:
the median savings in a 401(k) plan for people between the ages of 55 and 64 is currently just $15,000
I find that hard to believe
Posted on 2/23/18 at 8:25 am to RealityTiger
quote:
Sounds great now, but wait till the kids hit college first till we jump to that conclusion.
Kids? Nobody with kids gets to retire! They suck out your money and soul and eventually become a piece of shite like the OP.
Don't have them. Retire ahead of the curve and bang hotties who are only in it for the money. Change them frequently so you don't get tired of them.
This post was edited on 2/23/18 at 8:28 am
Posted on 2/23/18 at 8:26 am to PhiTiger1764
quote:
I’m just saying.. that’s the reality of it. People talk about retiring in their 50’s. Good luck.
There are jobs out there that still provide good retirement programs. That's the one shining light regarding being a school teacher. You may not make much money, but you have great retirement. You can even retire in one state, teach in another, then draw retirement from two states.
Posted on 2/23/18 at 8:26 am to Powerman
quote:
I find that hard to believe
You not believing it doesn't make it not true.
Posted on 2/23/18 at 8:31 am to fallguy_1978
quote:
There are plenty of millennials on here that live in 350k houses on 85k income.
Well, most of the anger is because Boomers were the ones that brought significant inflation to housing, medical expenses, education. The three big cornerstones of "growing up" and getting into a good middle class life. Not only that, with Medical Expenses they are mostly putting that on the backs of the middle class now.
You will rarely find a good house in a good school district for less than 250-200k in any of the Top 50 cities.
Posted on 2/23/18 at 8:34 am to Freauxzen
quote:
You will rarely find a good house in a good school district for less than 250-200k in any of the Top 50 cities.
shite. It's getting to the point where you will rarely find any house in a good school district for less than $300k. Maybe in mid-sized cities in the South you'll find a few around $250k in good areas.
Just looking at Birmingham, you'd have to move way out to Pelham, Alabaster, or a few parts of Hoover to find a house under $250k. Vestavia, Homewood, Mountain Brook, and Spain Park (our best suburban schools) are easily in the $300k+ range.
This post was edited on 2/23/18 at 8:35 am
Posted on 2/23/18 at 8:37 am to Mingo Was His NameO
quote:
You not believing it doesn't make it not true.
Of course. It's just a little shocking to me.
Millenials will wind up in much better financial shape than the people always bitching about them.
Posted on 2/23/18 at 8:39 am to Powerman
quote:
Millenials will wind up in much better financial shape than the people always bitching about them.
This I agree with.
Posted on 2/23/18 at 8:42 am to Mingo Was His NameO
quote:
You not believing it doesn't make it not true.
Well this is from synchrony bank but it does seem to dispute the claim in the OP
LINK
quote:
Americans in their 20s: $16,000
Americans in their 30s: $45,000
Americans in their 40s: $63,000
Americans in their 50s: $117,000
Americans in their 60s: $172,000
Posted on 2/23/18 at 8:46 am to OleWarSkuleAlum
quote:
Good frick EM! They deserve to be poor in old age when they decided to rack up debt for their exorbitant homes, cars, etc. Zero sympathy from me.
That's a little harsh. However, I do think it's one reason that more and more people in their 20's and 30's are saving more and foregoing things like buy houses, buying cars, or having kids. My wife and I are putting away about 20% of our monthly income into retirement/long-term investment accounts because of horror stories you hear from people reaching retirement age right now. Social Security will be defunct by the time we hit it, so you have to rely on private savings. I'll go without some luxury items earlier in life if it means that I won't die destitute.
Of course, if the proletariat rises when Millennials start to run things, then none of it will mean shite when they confiscate everything we own.
Posted on 2/23/18 at 8:53 am to OleWarSkuleAlum
Material goods and saving bro- it’s surefire insulation from human suffering. A lot of people don’t realize this, but if you retire with the most shite, even if you’ve led a mediocre life, you Win.
Posted on 2/23/18 at 8:53 am to NYNolaguy1
quote:
quote:
Millenials will wind up in much better financial shape than the people always bitching about them.
This I agree with.
100%
Both sets of our boomer parents are not very well postioned for retirement. My wife and I have made it our mission to aggressively save.
Posted on 2/23/18 at 9:12 am to jimbeam
quote:
Dude we're 1500 points off the ATH. How bad could you have taken a hit?
Well let’s just say my portfolio isn’t what you would call “diversified.” I play a lot of 3x leveraged ETFs and own several speculative biotech and MLPs. Big risk, big reward.
Posted on 2/23/18 at 9:15 am to OleWarSkuleAlum
quote:
Good frick EM! They deserve to be poor in old age when they decided to rack up debt for their exorbitant homes, cars, etc. Zero sympathy from me.
I hope you fricking lose everything. Doing your best to put a roof over your family isn’t being exorbitant.
Page 9 of 12
Popular
Back to top
Follow TigerDroppings for LSU Football News