U.S.Workers and retirement?

[piemma]

So I always made a decent living as did my wife but we were very judicious about how we spent our discretionary cash. We bought a used Popup camper when we first got married and camped. That was vacation. 2 weeks trout fishing in Maine. Great times and cheap.

I'm not gonna get into a life story but I think you get my drift.

You should live as you can afford to live. You need to always be aware of the fact the SSI will not allow you to retire without eating dog food twice a week.
You NEED to put away for retirement! Don't be mislead that you can live on SSI. We didn't and now we can retire with a sense of confidence and peace.

[Jenn]

Thanks for making me feel a little better guys I KNOW I got a little "ranty, sideways and sort of off topic" in my last post. It's just so hard to understand sometimes and I know I shouldn't be comparing my situation to others and I don't live life stewing over what I don't have that others do but lately (what I call "the gap") seems more and more baffling to me! It all started with my curiosity over the retirement thing. Oh well typical of me to get sidetracked I will be ok!

[nightfighter]

Manicures, haircuts, color, clothes, shoes, vacations, new cars every two year.... yup, that would be my ex-wife's MO. Don't know about what she and new husband have done about retirement, but the message to my kids is not one about what reality....

[Fly Rod]

If people can not save now....just think when Obamacare kicks in and your hours R cut from 40 to 29 hours....most that own property and have a mortgage will need a second job....will not be able to spend more time with family and could only enjoy skiing, boating and vacation until their charge card is exhausted.

The average pack of cigarrets cost 8-10 bucks per pack...take the 8 bucks a day x 7=56 bucks if U R a one pack a dayer x 52 weeks =$2,912...U have to be a rich person to smoke in the first place....and doubled if married and both smoke....stop smoking and start saving

[piemma]

Originally Posted by Fly Rod

I

The average pack of cigarrets cost 8-10 bucks per pack...take the 8 bucks a day x 7=56 bucks if U R a one pack a dayer x 52 weeks =$2,912...U have to be a rich person to smoke in the first place....and doubled if married and both smoke....stop smoking and start saving

We have a close friend who we have known for 25 years. She drives a 20 year old car that is beat to s#@*&, bald tires, etc, etc. Constantly complains about not having any money. Yup, you guessed it, her and her boyfriend both smoke a couple of packs a day. I don't get it.

[JackK]

I've been trying to max my 401K the past few years. I wasted a few years without contributing- catching up!!

It's fun to play around with the 401K calculators to see the potential in thirty-odd years.

Still need to diversify though- Roth IRA, some mutual funds, maybe some high-risk stocks. I need to speak to a financial adviser.

[Piscator]

Originally Posted by JackK

I've been trying to max my 401K the past few years. I wasted a few years without contributing- catching up!!

It's fun to play around with the 401K calculators to see the potential in thirty-odd years.

Still need to diversify though- Roth IRA, some mutual funds, maybe some high-risk stocks. I need to speak to a financial adviser.

Our government discriminates when it comes to the Roth IRA and many other things for that matter. They exclude people from participating at certain income levels.....
Posted from my iPhone/Mobile device

[Swimmer]

Originally Posted by Jenn

Thanks for making me feel a little better guys I KNOW I got a little "ranty, sideways and sort of off topic" in my last post. It's just so hard to understand sometimes and I know I shouldn't be comparing my situation to others and I don't live life stewing over what I don't have that others do but lately (what I call "the gap") seems more and more baffling to me! It all started with my curiosity over the retirement thing. Oh well typical of me to get sidetracked I will be ok!

Jenn the difference beteeen those other people who seemed to have so much more than you is thier house will never be paid for, nor will anything else. They probably lease the cars they drive. Have numerous credit cards, we only ever had one. Never charged to it what we couldn't afford to pay off evrr month. And dont worry, somehow those windows will get replace.
Posted from my iPhone/Mobile device