Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
"Retirement Crisis"? What retirement crisis?
Old 01-15-2007, 11:39 AM   #1
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,620
"Retirement Crisis"? What retirement crisis?

From Ted's most excellent links at FundAlarm:

Vanguard claims "Retirement Crisis" is overblown
__________________

__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: "Retirement Crisis"? What retirement crisis?
Old 01-15-2007, 11:43 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,884
Re: "Retirement Crisis"? What retirement crisis?

Quote:
"Many retirees now live solely on Social Security income,"
I wonder where these many retirees live? ...and what brand of cat food they would recommend.
__________________

__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Re: "Retirement Crisis"? What retirement crisis?
Old 01-15-2007, 11:48 AM   #3
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
Re: "Retirement Crisis"? What retirement crisis?

Airstream in the desert, halfway to Vegas.

...or with their kids. My neighbors have his Dad living with them. Didn't save a dime, CAN'T READ ( how does somebody born in this country not learn to read?), and is 70 years old. But he's worked for construction companies all his life, collects decent Social Security, and does odd jobs for supplimental income. Even pays rent to them to help with the mortgage, and watches the dogs when they go away on trips.

Not everyone is lucky enough to have family, but I bet the majority of cases are like the above.
__________________
laurence is offline   Reply With Quote
Re: "Retirement Crisis"? What retirement crisis?
Old 01-15-2007, 12:17 PM   #4
Full time employment: Posting here.
 
Join Date: Mar 2005
Posts: 927
Re: "Retirement Crisis"? What retirement crisis?

[quoteDidn't save a dime, CAN'T READ ( how does somebody born in this country not learn to read?), and is 70 years old.[/quote]

It's not that hard, especially for earlier generations. My father was orphaned at 6 years old -- middle of the depression -- in rural Texas. He was lucky to wind up in a Catholic orphanage where they DID teach him to "read, write, and cypher." But even that didn't last long -- he got TB in 7th grade and was shipped to the Texas State sanitorium. That was the end of his formal education right there.

Siblings who were just a few years older were farmed out... literally, to work the cotton fields or clean other people's houses. They were all smart and hard-working, but never made much money or got much education.

When I'm feeling cranky about my lot in life I think of my Dad's limited opportunities, and that gets me over it pretty darned quick.
__________________
Caroline is offline   Reply With Quote
Re: "Retirement Crisis"? What retirement crisis?
Old 01-15-2007, 12:48 PM   #5
Thinks s/he gets paid by the post
Telly's Avatar
 
Join Date: Feb 2003
Posts: 1,448
Re: "Retirement Crisis"? What retirement crisis?

Thanks for the link, Nords.

I found this quote from the article quite odd:

"A survey from Boston-based Financial Research Corp. planned for release this month shows that 61% of the baby boomer respondents said they spend one to eight hours a month planning for retirement, while 39% spend one hour a month or less. The survey was of 648 boomers."

I think the poll respondents answered with what they figured they ought to be doing, rather than what they actually were doing!

I know I didn't spend that amount of time before the event that lead to my EER! Furthermore, none of my peers did, either. Sure there were a few market timers always buzzing about the latest new method of timing, but I would hesitate to call any of their actions "planning for retirement"
__________________
-- Telly, the D-I-Y guy --
Two fools dancing on the hands of time
Telly is offline   Reply With Quote
Re: "Retirement Crisis"? What retirement crisis?
Old 01-16-2007, 09:03 AM   #6
Recycles dryer sheets
Jeb-NY's Avatar
 
Join Date: Nov 2005
Location: North Coast of NY
Posts: 269
Re: "Retirement Crisis"? What retirement crisis?

How many hours a month does it take?

You setup to max out your 401K contribution, write a check once a year for your ROTH and pick a few good funds to DCA in automatically every payday to supplement the 401K and Roth. Increase what you save every year as your salary increases and maybe tweak AA once every few years and live on what's left of your salary.

Seems like if you spend to much time on the process it becomes your hobby and you end up chasing rainbows.

Jeb
__________________
Jeb-NY is offline   Reply With Quote
Re: "Retirement Crisis"? What retirement crisis?
Old 01-16-2007, 10:13 AM   #7
Moderator
bssc's Avatar
 
Join Date: Dec 2005
Posts: 9,940
Re: "Retirement Crisis"? What retirement crisis?

It will be interesting to see how the baby boomers retire since we seem to need more and more toys.

Mr. Chard's comment that " "Between mortgages and real estate values, people are trying to buy more with less; they're not set for retirement" seems to be to be saying that people can't save because real estate. I though real estate was supposed to be an investment.
__________________
Angels danced on the day that you were born.
bssc is offline   Reply With Quote
Re: "Retirement Crisis"? What retirement crisis?
Old 01-16-2007, 12:28 PM   #8
Thinks s/he gets paid by the post
 
Join Date: Sep 2006
Posts: 1,698
Re: "Retirement Crisis"? What retirement crisis?

The article contends that retirees ill-prepared is overblown. Then in the article they admit they only were looking at individuals planning for their retirement over the internet. This is hardly a worthy look at the well being of future retirees. How can you attempt to refute common perception that most are not prepared by excluding those that have done nothing?
__________________
Running_Man is offline   Reply With Quote
Re: "Retirement Crisis"? What retirement crisis?
Old 01-16-2007, 01:41 PM   #9
Thinks s/he gets paid by the post
 
Join Date: Feb 2003
Location: Mesa
Posts: 3,588
Re: "Retirement Crisis"? What retirement crisis?

Quote:
Originally Posted by Running_Man
. . . How can you attempt to refute common perception that most are not prepared by excluding those that have done nothing?
It must be pretty easy if you are facing a submission deadline for your column and you are bankrupt of any real financial ideas.
__________________

__________________
sgeeeee is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Paritioned portfolios of Target Retirement 20XX for each decade of retirement chinaco FIRE and Money 11 03-15-2007 06:06 PM
Vanguard Retirement Study REWahoo Other topics 4 03-02-2007 10:19 AM
Should a married couple have individual retirement investing plans? Anaya_1de Young Dreamers 28 12-05-2006 08:57 PM
Earliest Retirement with 100% Equity Portfolio? bbuzzard FIRE and Money 42 12-03-2006 11:13 AM
Declining COL in retirement?... Cb FIRE and Money 31 06-09-2005 02:47 PM

 

 
All times are GMT -6. The time now is 05:24 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.