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I'm just curious because a new report came out that consumer debt is like craaaazy, and student loans are crippling and all that. People always complain that young people need to save for retirement, but how reasonable is that expectation? How much have you saved for retirement? Do you intend to step that up in the future? When and how? Okay, haha, here's the kicker. Millennials are actually being way more diligent than former generations when it comes to retirement savings, particularly when adjusted for, well, their capacity to do so. So did you accidentally give up when it turns out your friends really are saving? Or did the loving survey dorks do that loving thing where they just interviewed some socal white people and assumed that they could generalize that to the entire country? quote:Overall, Americans significantly improved their "retirement preparedness" score—a measure of how well people will be able to afford at least their essential expenses in retirement—since the benchmark was last assessed in 2013 by Fidelity.That year, Fidelity found that 38% of Americans were prepared for retirement. In 2015 that number jumped to 45% as a result of better saving and investment allocation, the analysis shows. quote:The median age at which millennials buy their first mutual fund shares, for instance, is 23, according to the ICI's latest, just-out, annual Fact Book. In contrast, members of Generation X — who range in age from 37 to 52 — took their first bite of the mutual fund apple at a median age of 26.
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Sep 13, 2017 03:06
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None of your loving business.
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Sep 13, 2017 03:07
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negative
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Sep 13, 2017 03:15
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jon joe posted:negative ho
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Sep 13, 2017 03:15
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Pick posted:ho not that desperate yet
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Sep 13, 2017 03:17
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It's all in bitcoins, I'm buying a spaceship in 30 years
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Sep 13, 2017 03:19
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$42,069
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Sep 13, 2017 03:20
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Between my employer and I we put about 1100 biweekly into my pension. If I work until I'm 55 my pension will pay me 5800 a month until I die (assuming I only get a 2 percent raise per year). 65 and I get 7500. I don't know why you guys keep voting to crush unions.
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Sep 13, 2017 03:20
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a basement full of PBR cans
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Sep 13, 2017 03:20
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I just started with my 401k
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Sep 13, 2017 03:21
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a bunch of john kruk rookie cards and my NES collection
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Sep 13, 2017 03:22
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I don't plan to live long enough to reach retirement age
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Sep 13, 2017 03:22
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Jose posted:I don't plan to live long enough to reach retirement age this guy gets it
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Sep 13, 2017 03:22
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manpurse posted:Between my employer and I we put about 1100 biweekly into my pension. If I work until I'm 55 my pension will pay me 5800 a month until I die (assuming I only get a 2 percent raise per year). 65 and I get 7500. I don't know why you guys keep voting to crush unions. envy
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Sep 13, 2017 03:23
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just lol if you're saving money and not putting it all into guns and ammo and supplies for the imminent apocalypse
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Sep 13, 2017 03:23
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Kenzie posted:just lol if you're saving money and not putting it all into guns and ammo and supplies for the imminent apocalypse why spend that much? You only need one gun and bullet for the apocalypse.
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Sep 13, 2017 03:24
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You could retire today and be just as broke as you will when you retire at age 70. You might even come away with more money by doing it now.
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Sep 13, 2017 03:24
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If yI count together my current 401K and the old 401K I rolled into a Vanguard IRA, it's a little over 100 Gs, OP. How about yourself?
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Sep 13, 2017 03:27
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bradzilla posted:$42,069
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Sep 13, 2017 03:28
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Lots, OP. Australian law makes superannuation contributions mandatory
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Sep 13, 2017 03:30
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I've got an ok amount between the wife and myself, but I hope all of the "I put away 10k a month into my blah blah" all die at 55 without getting to enjoy it and their (ugly) kids fight over their money.
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Sep 13, 2017 03:31
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enough but still growing it (like my dilz)
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Sep 13, 2017 03:32
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Tyson Tomko posted:I've got an ok amount between the wife and myself, but I hope all of the "I put away 10k a month into my blah blah" all die at 55 without getting to enjoy it and their (ugly) kids fight over their money. I'd rather die secure at 50 than die broke at 90
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Sep 13, 2017 03:32
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Tyson Tomko posted:I've got an ok amount between the wife and myself, but I hope all of the "I put away 10k a month into my blah blah" all die at 55 without getting to enjoy it and their (ugly) kids fight over their money. no 
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Sep 13, 2017 03:33
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General Dog posted:If yI count together my current 401K and the old 401K I rolled into a Vanguard IRA, it's a little over 100 Gs, OP. How about yourself? grad school put me behind on it so I'm working on it now, trying to figure current v. future enjoyment and etc.
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Sep 13, 2017 03:33
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General Dog posted:I'd rather die secure at 50 than die broke at 90 Not sure if you're agreeing or disagreeing with me but we're totally on the same page. My main debacle is a lot of mine is in stock, so if it takes a poo poo so does 40% of my monay. Rolling those dice! Also worst case scenario, if I turn 103 and funds dry up I'll bag holographic future groceries or something for some spare change.
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Sep 13, 2017 03:34
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I don't think these forums will exist when I retire so my future enjoyment will be much diminished
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Sep 13, 2017 03:35
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Pick posted:
Almost certainly this. Mutual fund purchases were only popular as a part of retirement strategy (I can't check how they define it since you didn't source your mfin quotes) after the 401k was made the main retirement vehicle by the death of pensions. Purchases were delayed by boomers because they still had pensions. Also I'm guessing the median age is only among people who actually have access to them. Because lol.
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Sep 13, 2017 03:35
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Pick posted:grad school put me behind on it so I'm working on it now, trying to figure current v. future enjoyment and etc. Well if your employer matches on 401K at least max that out; it's free money!
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Sep 13, 2017 03:36
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I save 7% per year, more if I can swing it.
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Sep 13, 2017 03:38
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General Dog posted:Well if your employer matches on 401K at least max that out; it's free money! Oh poo poo absolutely, I don't leave money on the table.
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Sep 13, 2017 03:38
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Green Stamps, Topps cards from the 80s, and outdated electronics. Worth a little more than $200. US. Yep, I'm set. 
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Sep 13, 2017 03:39
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I'm gonna have to work until I die.
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Sep 13, 2017 03:40
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When I die my nieces and nephews can have the money since I didn't live long enough
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Sep 13, 2017 03:40
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Jose posted:When I die my nieces and nephews can have the money since I didn't live long enough Same, I figure it'll go to some other random family members and some charity or w/e I probably won't get there.
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Sep 13, 2017 03:41
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I have a cool 750k in Iraqi Dinar. Now all I gotta do is wait for the middle east to calm down.... any day now.
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Sep 13, 2017 03:42
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Pick posted:Same, I figure it'll go to some other random family members and some charity or w/e I probably won't get there. Same I'm a dink so the niece and nephew and local childrens hospital are gonna clean up.
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Sep 13, 2017 03:43
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like, a lot. my plan is to retire in my 50s, & its on track
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Sep 13, 2017 03:44
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Pick posted:Same, I figure it'll go to some other random family members and some charity or w/e I probably won't get there. To be honest, same. If I'm still kickin in a few (a few few is more like it) years when my house is paid off I'll consider that a victory and paying the bills will be a shitload easier from that point forward. I wish I could get by without any health insurance to spend even less but gently caress that ultra gamble.
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Sep 13, 2017 03:45
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Jose posted:When I die my nieces and nephews can have the money since I didn't live long enough I have a will and and living will as well. Makes it easier. This is a serious post.
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Sep 13, 2017 03:46
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