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Latest BS on yahoo about retirement
Old 11-16-2009, 11:43 AM   #1
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Latest BS on yahoo about retirement

Ther have been a rash of articles on Yahoo about retirement and for a laugh I often read them. Here's the latest one

retirement-saving-through-the-ages: Personal Finance News from Yahoo! Finance

I love sentences like the following:

"Think about it this way: If you're 25 years old and you want to save up $1 million by the age of 65, you'd only have to invest $85 a month at a 12 percent annual return."

12% annual return, why even do the calculation. When I see such artlcles and financial advisers using numbers like 4% I'll have some respect for them.
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Old 11-16-2009, 11:53 AM   #2
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It may well be in the next several decades that a 12% return is a reasonable guess.

But if it is, it will probably be because inflation is running at 6-10%.
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Old 11-16-2009, 12:06 PM   #3
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Quote:
Originally Posted by nun View Post
Ther have been a rash of articles on Yahoo about retirement and for a laugh I often read them. Here's the latest one

retirement-saving-through-the-ages: Personal Finance News from Yahoo! Finance

I love sentences like the following:

"Think about it this way: If you're 25 years old and you want to save up $1 million by the age of 65, you'd only have to invest $85 a month at a 12 percent annual return."

12% annual return, why even do the calculation. When I see such artlcles and financial advisers using numbers like 4% I'll have some respect for them.
Perhaps they asked Suze Orman and/or Richard Kiyosaki for help?
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Old 11-16-2009, 03:56 PM   #4
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Agree that the numbers in the article are a little ridiculous, but obviously the take-away the author was really going for was the order of magnitude change in savings needed per month when the starting age is the only variable.
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Old 11-16-2009, 04:33 PM   #5
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Agree that the numbers in the article are a little ridiculous, but obviously the take-away the author was really going for was the order of magnitude change in savings needed per month when the starting age is the only variable.
Yep - have seen various versions and different numbers every decade since the 1960's - I remember the guy touting $100/mo into mutual funds - back when load funds were good for you/nicotine wasn't addictive - and you got in all the fishing you ever wanted before you croaked/ran out of money.

Apparently he didn't golf.

heh heh heh - .
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Old 11-16-2009, 05:37 PM   #6
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51 percent of workers age 50 or older are delaying retirement.
What does that mean, delaying by 2 minutes, a year, six months, 10 years? All those time periods compressed into that 50%?

So let us speak of the under-represented 49%!
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Old 11-16-2009, 07:17 PM   #7
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NewsFlash

"50 Percent of workers save less than the other 50 percent"
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Old 11-17-2009, 01:42 AM   #8
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"50 Percent of workers save less than the other 50 percent"
I thought that was 20% of the workers do 80% of the saving.
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Old 11-17-2009, 06:44 AM   #9
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This kinda reminds me of the "career counselors" we had in high school. It quickly occurred to me that if they knew how to get a good job, they would have. Ditto with financial writers and financial independence.
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Old 11-17-2009, 02:32 PM   #10
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The "start saving for retirement early" always bugs me. If you're married, with a mortgage and kids, it's probably reasonable to consider "paying off the loans" the best retirement savings plan.

The "Financial Professionals" in this article are probably sales people who would be happy to have you pay fees for a car loan at the same time that you are paying fees for investment advice.
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Old 11-17-2009, 02:34 PM   #11
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First time on the board. Nice to finally see some people on the internet talking reality regarding future stock returns.

Look forward to participating more in these forums.
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