At what age do you hope to retire?

I work in the 401k industry and all I can say is that people do not save anywhere near enough money towards retirement. Start as early as you possibly can and let that compound interest help you out. I personally contribute 15% of my own money and I get a 3% match on top of that so 18%.

If the company you work for does not have a 401k then open an IRA, once you get it set up you kind of forget about it.

 

I second everything he said. I know I'm young but I'm smart enough to figure out that starting a year early could add hundreds of thousands of dollars to your account value even if you retire at the same time.

Although I don't forget about mine, I check how my fund does every night because it amazes me how much I make for not doing anything


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Are you in retail?

 

A lot depends on the economic climate (as it does with everyone). I see myself retiring around 52. I've been investing in a TSA since I was hired at 24 (now 29). My wife has a substantial 401K established from her first few years at CVS that matched 5% 1:1. We rolled that into an IRA when she left and went to work at Wegmans where we now are also vesting 9% in her 401K. We're looking at doing a Roth while we still qualify.

I have a solid pension that will form the basis of my retirement. Most of my investments are supplementary.

I have a couple of other sources of income coming in that will be helping along the way as well.

We just paid the bulk of my wife's student loans off last month. All that's left are a few $1k's on ultra low interest which we'll pay off the bare minimum until they're done (so for all intents and purposes, they're paid off). So hopefully we an up our % contributions now.

With that all being said, life is anything but predictable. I'll keep living and working and enjoying it along the way.

 

You didn't mention any amazement at losses. What fund are you in???

 

I will have a small pension worked out with free family plan insurance in 7 years. Ive got 7 months of sick time built up and hope to have a years worth in a few years. I'll be fifty and my house will be paid for at roughly the same time. I will probably get another job but insurance and pay may be secondary. I currently hate my job.

 

At 65, with two retirement checks, the house paid off, IRA for emergency spending and a little bit of stocks. Doubt if I'll ever see Social Security. Want to be young enough to still enjoy life a little.

 

America funds. The ticker is amcpx. I got a little over 20% even with the 5.75% up front fee. Like with everything it goes up and down. It's a high risk high reward type fund for long term investing. It's not that ignore the losses it's just I understand how the market works. And I know that after every recession or depression since the beginning of the market, the market then goes higher than pre-crash. So basically I don't care if I lose today, this week, or this year, because it will go higher after.

I also fully expect another recession in the next 12 months


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Only retire when I can't work but just slowly slow down and play more more as I get there.

Don't plan on doing squat with any Social Security. It's all a government Ponzi Scheme anyhow. Not relying on their crooked arses to take care of my arse.

 

I'm just mad that I have to pay the SS tax and I will most likely never get anything out of it


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I will inherit a lot of money one day. Hopefully a LONG time from now. Until then I will work and save.


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Do you mean have 250k saved? Or pull that much out every year?

 

My one house Is 400k. And it's a townhouse hahha. I plan on getting another one when I move out of here though.

 

I think he means that he plans on living off $250k/year once he retires

 

I plan to have about 250k in interest every year when I retire, If everything goes as planned. But by then I should have my house paid off, all other things paid off, and should not need anywhere near 250k a year...

 

in 50 years $250k/year is going to feel like $25k/year

just sayin'

 

I will retire tomorrow if I win the powerball. Assuming that doesn't happen I will probably work at some capacity until the day I die which I hope is at least 40 years out!

 

I don't think it will be quite that bad
But if inflation goes that high, I would be making 1.5 mil a year so I'm still not worried


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I just figured I'd run for Congress here in a few years. I hear they have a decent retirement

 

I'd like to get paid 178k to talk about nothing important


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