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View Poll Results: For retired posters only, (anonymously) how much $ do you currently have?
< $1 million 51 36.17%
$1-$2 million 48 34.04%
$2-$3 million 20 14.18%
$3-$4 million 7 4.96%
> $4 million 15 10.64%
Voters: 141. You may not vote on this poll

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Poll: How much money do people have who are retired?
Old 06-13-2010, 06:14 AM   #1
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Poll: How much money do people have who are retired?

I understand that how much money you need for retirement depends on your personal situation (not the least of which is your personal cost of living). However, I was curious to know how many people who are retired on this forum have <$1M, <$2, <$3 or over $4. I have never submitted a poll before on this site so I hope this works ...
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Old 06-13-2010, 08:08 AM   #2
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What is the question underlying the poll? It doesn't include fixed pensions and SS which can make a difference for retirement planning.
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Old 06-13-2010, 08:34 AM   #3
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I agree it does not include SS and Pensions. I was just curious (independent of SS/Pensions, individual's cost of living needs, healthcare needs, etc.), how much people had in overall savings. I would think many would be interested in knowing this information (for different reasons) and this forum uniquely allows this info to be collected/shared anonymously. It also sets some background info when reading posts regarding investment opinions, etc., re: how much of a nest egg people are investing.
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Old 06-13-2010, 09:19 AM   #4
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I have a pension that covers all my expenses as well as paid health care. To ignore that would be ridiculous.
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Old 06-13-2010, 09:28 AM   #5
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I have a pension that covers all my expenses as well as paid health care. To ignore that would be ridiculous.
In what way? The question is "How much money do you have." I suppose one could count future cash flow but that seems (to me) like making it overly complicated. It probably isn't the most well-formed question but it is what it is.
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Old 06-13-2010, 09:35 AM   #6
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Include house value? I know the original question is about money but financial assets are what they are. I have a house, a taxable account and tax free/deferred accounts. Also some gold coins. My biggest asset is my COLAd pension. If one is trying to ascertain their financial condition all of these are relevant.
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Old 06-13-2010, 09:42 AM   #7
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You may be interested in looking at ORP User Profile. ORP saves some of the parameters that users enter into the tool. This is not really a poll and certainly is not scientific, but it does allow you to see what numbers people are using. There are tables for tax deferred, Roth, and after-tax assets.
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Old 06-13-2010, 09:54 AM   #8
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So far, the poll seems to be confirming my impression that a significant percentage of our members have over a million dollars in stocks, bonds, and cash.
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Old 06-13-2010, 10:32 AM   #9
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A cola'd pension has a substantial present value but I used the number my estate would be worthif I died today.
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Old 06-13-2010, 10:51 AM   #10
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In what way? The question is "How much money do you have." I suppose one could count future cash flow but that seems (to me) like making it overly complicated. It probably isn't the most well-formed question but it is what it is.
Perhaps I'm making an incorrect assumption, but I'm under the impression that the OP is asking the question to get a warm feeling about his own estimate of what it will take for HIM to retire. Ignoring substantial other income streams seems like it would render the data useless.
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Old 06-13-2010, 10:58 AM   #11
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Perhaps I'm making an incorrect assumption, but I'm under the impression that the OP is asking the question to get a warm feeling about his own estimate of what it will take for HIM to retire. Ignoring substantial other income streams seems like it would render the data useless.
Exactly. Without my diet COLA pension I would still be slaving away down in the salt mine hoping that in "just one more year" I can free myself. The pension means I can retire and live a decent lifestyle, the rest of the net worth means I can send the kids to college on my dime, take some nice trips, and buy a few toys here and there.
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Old 06-13-2010, 11:08 AM   #12
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I wonder if perhaps some people who have significant amounts of their net worth sunk into their housing, or value of pension/SS/whatever, are just embarrassed to admit on an anonymous poll that they don't have much actual money. There is nothing to be embarrassed about, though. Hey, we all wish we had an 80% pension, SS, and a big paid off house. This part of one's net worth sure seems more certain than investing, to me.

The OP specifically said he was interested in "background info when reading posts regarding investment opinions, etc., re: how much of a nest egg people are investing." The nest egg that I am investing consists of mutual funds and cash. My pension is not part of that. My house is just a place where I live.
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Old 06-13-2010, 11:11 AM   #13
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I think "How much money do people have" is straightforward. Income isn't money you have; it's money you expect to get. Since I'm not retired, though, I couldn't answer the poll

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Perhaps I'm making an incorrect assumption, but I'm under the impression that the OP is asking the question to get a warm feeling about his own estimate of what it will take for HIM to retire. Ignoring substantial other income streams seems like it would render the data useless.
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Old 06-13-2010, 11:29 AM   #14
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Perhaps the OP is asking this of early retiree posters (such as myself) who are not yet collecting a pension or SS to see how much liquid savings they have. I do not know.
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Old 06-13-2010, 11:32 AM   #15
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Perhaps I'm making an incorrect assumption, but I'm under the impression that the OP is asking the question to get a warm feeling about his own estimate of what it will take for HIM to retire.
Yeah, that's what I meant by not the "most well-formed question." The setup was about "need" but the question itself was about "have" -- in the current sense.
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Old 06-13-2010, 12:41 PM   #16
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Seems to me if you don't like the poll question for whatever reason, you don't have to answer it.
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Old 06-13-2010, 01:36 PM   #17
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Seems to me if you don't like the poll question for whatever reason, you don't have to answer it.
I didn't.
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Old 06-13-2010, 02:45 PM   #18
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Quote:
Originally Posted by Earl E Retyre View Post
I understand that how much money you need for retirement depends on your personal situation (not the least of which is your personal cost of living). However, I was curious to know how many people who are retired on this forum have <$1M, <$2, <$3 or over $4. I have never submitted a poll before on this site so I hope this works ...

If you would like to know the net worth of most of the posters there are a few old threads on it . We usually do a poll every few years . A lot of our posters have very large pensions and frankly I do not see the difference between having a $40,000 pension or a million dollars to invest they both give you to same amount to spend . Plus with the pensions you have that same amount of money regardless of what the market does . I have a smaller pension and during the meltdown my pension stayed steady while my investments dropped by 30%.
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Old 06-13-2010, 02:52 PM   #19
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I am not sure why the OP ask the question. If he just wanted to know how much money people have, then it appears to be worded correctly. If he is looking to answer a question as to weather he had enough, then it is a bad poll.

I agree with other that say the 'cole'd income and other pensions' must be considered. Our savings is our 'mad money' and has little to do with our retirement decission.
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Old 06-13-2010, 03:03 PM   #20
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I thought that the OP might be a young dreamer who doesn't expect to have a pension and is highly doubtful that SS will be there for him in the future. Then I saw that wasn't the case...
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