Are you saving for your retirement?

[HansNZ]

I am only 28 and I am preoccupied with aquiring funds so I can be financially independent from needing to have a job, as quickly as possible. I am investing as much as I can, as quickly as possible. But I find that many people (even if they hate their jobs) make no provision for retiring as soon as they can.

You find them spending their entire incomes on consumption rather than putting a good half of it into a mortgage, paying off student loans, establishing a pension fund, buying investment property, or whatever.

Are there other people on here like me or do most of you not really think about retirement? I am told that Americans have a tendency to be quite short-term minded when it comes to saving, etc.

 

[Joe DiAngelo]

u should do a persona trainer here in nyc .

i dont know where u live,but here is where the business is !

 

[ajtomasi]

I've been told with $5mill in the bank will get you over $200K a year when you retire.

This place has a lot of money info

Montey Fool Online

 

[***]

man i'm just living paycheck to paycheck, paying off loans. no time to think about saving for retirement.

 

[HansNZ]

I've been told with $5mill in the bank will get you over $200K a year when you retire.

This place has a lot of money info

Montey Fool Online

I think $200k from 5 million in assets is a VERY poor return. I think 400k would be conservative.

 

[ajtomasi]

I think $200k from 5 million in assets is a VERY poor return. I think 400k would be conservative.

perhaps your right if 1 mill can get you $80K

oh well check this out

STONE BABY

 

[nice6pac]

you are forgetting that if u invested int eh stock market that 5 million drops to 2.5 million when u cash it out it dpoends how you invest it ther are ways around it but the best is getitng a 55 return tax free i don;t remmber what its called but bascially you would get 55 of whatever the meony you ahd with no investment tax shit attached to it not to shabby and its 100% backed by the government so no risk ther eis a minmum amount though its basicaly a bond type thing

 

[***]

perhaps your right if 1 mill can get you $80K

oh well check this out

STONE BABY

in today's economy with the interest rates this low i don't think an 8% return is feasible if you're just relying on low risk investment returns...

 

[supersizeme]

i'm 27 and don't have a retirement fund set up yet. i am planning on starting a roth next year. right now i'm hording money away to get into a house at the end of the year once my apartment lease is up provided i am able to stay employed in this volatile tech job market. i had planned to do this last year, but i was laid off from my job, and that set me back a full year. right now my main focus is to get away from throwing thousands away every year in apartment rent. i don't see $5 million dropping into my lap anytime soon so i haven't been paying too much attention to what kind of return that can give me.

 

[Lestat]

26 and have 15K or so in my 401k