|
|
02-28-2016, 11:27 AM
|
#21
|
Recycles dryer sheets
Join Date: Mar 2010
Location: Poway, CA
Posts: 441
|
Agreed
Sent from my Nexus 4 using Early Retirement Forum mobile app
|
|
|
|
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!
|
02-28-2016, 12:05 PM
|
#22
|
Thinks s/he gets paid by the post
Join Date: Nov 2011
Posts: 3,902
|
Quote:
Originally Posted by Al18
Anyone can lie on a survey. I put more faith in the 401K/IRA retirement saving account numbers reported by Fidelity.
|
I do too, but only with the realization that "account value" is less than "amount of retirement savings". Account value skews low because many people have multiple accounts. How many retirement accounts do people have on average? That's a number I've not seen accompanying results of such reports.
|
|
|
02-28-2016, 12:26 PM
|
#23
|
Thinks s/he gets paid by the post
Join Date: Jun 2013
Location: Bonita (San Diego)
Posts: 1,795
|
Quote:
Originally Posted by GrayHare
I do too, but only with the realization that "account value" is less than "amount of retirement savings". Account value skews low because many people have multiple accounts. How many retirement accounts do people have on average? That's a number I've not seen accompanying results of such reports.
|
Good point. I seriously doubt those gathering data from account numbers apply due diligence to acknowledge the fact that, for example, DW and I hold three IRAs, two 403b accts, a brokerage acct, and a defined contribution retirement account. That's seven investment/retirement accts for two individuals, each of which individually would paint a much different picture than the aggregate.
__________________
"So we beat to our own drummer in the sun;
We ask for nobody's permission to run.
I just wanna live in a world like that;
Now I'm gonna live in a world like that!" - World Like That, O.A.R.
|
|
|
02-28-2016, 02:07 PM
|
#24
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Location: On a hill in the Pine Barrens
Posts: 9,721
|
As I grow older I have become more trusting of govt. It's the population I have lost faith in.
|
|
|
02-28-2016, 04:03 PM
|
#25
|
Recycles dryer sheets
Join Date: Dec 2013
Posts: 174
|
Quote:
Originally Posted by target2019
As I grow older I have become more trusting of govt. It's the population I have lost faith in.
|
My thoughts are the opposite. Especially with the FBI/Apple debacle
|
|
|
02-28-2016, 04:18 PM
|
#26
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2004
Location: SW Ohio
Posts: 14,404
|
Quote:
Originally Posted by btdt22
My thoughts are the opposite. Especially with the FBI/Apple debacle
|
If Americans count that little perturbation, which is very limited in scope and being handled quite well in a very transparent way inside our current system, as a "debacle," then we are truly blessed to be a people with minor problems. The fact that we are exercised about it is a good thing, too.
|
|
|
02-28-2016, 05:20 PM
|
#27
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
|
Apple being allowed to appeal a court order and going all the way up to the SC is a debacle?
The US government is not perfect, but far from the worse. One needs to go live in another country, not just as a tourist, to understand how the locals are treated by its government. Usually, foreign tourists bring in money, so are left alone and they do not know how the natives live.
Quote:
Originally Posted by GrayHare
I do too, but only with the realization that "account value" is less than "amount of retirement savings". Account value skews low because many people have multiple accounts. How many retirement accounts do people have on average? That's a number I've not seen accompanying results of such reports.
|
Quote:
Originally Posted by nash031
Good point. I seriously doubt those gathering data from account numbers apply due diligence to acknowledge the fact that, for example, DW and I hold three IRAs, two 403b accts, a brokerage acct, and a defined contribution retirement account. That's seven investment/retirement accts for two individuals, each of which individually would paint a much different picture than the aggregate.
|
For us, it's his and her 401k's (3), his and her IRA at Schwab (2), his and her Roth at Schwab (2), his and her IRA at Vanguard (2), his SARSEP (1). So, that's 10 accounts.
I have after-tax investment accounts, which I definitely consider my retirement savings. That's another 7 accounts, not counting banking accounts.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
|
|
|
02-28-2016, 05:57 PM
|
#28
|
Recycles dryer sheets
Join Date: Mar 2010
Location: Poway, CA
Posts: 441
|
I thought the thread was about how little most Americans had saved. What does this have to do with how many accounts we have?
Sent from my Nexus 4 using Early Retirement Forum mobile app
|
|
|
02-28-2016, 05:58 PM
|
#29
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
|
It's because statistics count money in each account, and fail to compensate for the fact that people usually have several.
If they look at only my smallest account, they will say that this NW-Bound is going to eat cat food.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
|
|
|
02-28-2016, 06:05 PM
|
#30
|
Thinks s/he gets paid by the post
Join Date: Jun 2014
Posts: 1,069
|
Lies, D&mned lies, and Statistics
Sent from my iPhone using Early Retirement Forum
|
|
|
02-28-2016, 06:51 PM
|
#31
|
Thinks s/he gets paid by the post
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,393
|
Quote:
Originally Posted by target2019
As I grow older I have become more trusting of govt. It's the population I have lost faith in.
|
Yes, I'm starting to feel this way as well. The people on this forum are smarter and richer than most. Good for us!!
|
|
|
02-28-2016, 06:56 PM
|
#32
|
Thinks s/he gets paid by the post
Join Date: Oct 2009
Posts: 1,190
|
Quote:
Originally Posted by target2019
As I grow older I have become more trusting of govt. It's the population I have lost faith in.
|
Funny. I feel more and more nervous about government the closer I get to collecting Social Security. 🤔
Sent from my iPad using Early Retirement Forum
|
|
|
02-28-2016, 07:05 PM
|
#33
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
|
Quote:
Originally Posted by target2019
As I grow older I have become more trusting of govt. It's the population I have lost faith in.
|
I have always been neutral between the government and the people, generally speaking. Both governments and peoples have been able to commit atrocities like genocide in the past.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
|
|
|
02-28-2016, 07:26 PM
|
#34
|
Recycles dryer sheets
Join Date: Mar 2010
Location: Poway, CA
Posts: 441
|
I'm not sure that this study is so inaccurate as some members of this forum are making out to be. The following is a clip from the report used for this study. Looks pretty well documented to me.
Sent from my Nexus 4 using Early Retirement Forum mobile app
|
|
|
02-29-2016, 12:19 AM
|
#35
|
gone traveling
Join Date: Oct 2007
Posts: 1,135
|
Quote:
Originally Posted by OrcasIslandBound
The way I see this, at least 3/4 of the population of imminent retirees don't have much, if any, retirement savings. We of this forum would like to think that this is not our problem. For a while, I think it is unlikely to be our problem. However, eventually, if there is some sort of Arab spring here, it might become our problem. I hope it doesn't come to that.
Sent from my Nexus 4 using Early Retirement Forum mobile app
|
+1. Absolutely.
There is bound to be some forms of wealth transfer through this process. How it manifests itself is anyone's guess. Kitces talks about the risk of taxation to certain retirement accounts, inheritance tax changes, reduced SS, medical care costs where those who can afford cover those who can not...
It's all a bit ominous knowing someone will want your pile.
As senator said a few weeks ago " booze, lead and guns"
|
|
|
Slightly more detailed info on how much American retirees have saved...
02-29-2016, 08:18 AM
|
#36
|
Thinks s/he gets paid by the post
Join Date: Oct 2009
Posts: 1,190
|
Slightly more detailed info on how much American retirees have saved...
Quote:
Originally Posted by papadad111
+1. Absolutely.
There is bound to be some forms of wealth transfer through this process. How it manifests itself is anyone's guess. Kitces talks about the risk of taxation to certain retirement accounts, inheritance tax changes, reduced SS, medical care costs where those who can afford cover those who can not...
It's all a bit ominous knowing someone will want your pile.
As senator said a few weeks ago " booze, lead and guns"
|
Not to be flippant, but in a broader context what exactly do you think the last 8 years, and ZIRP, have been all about? It has been a systematic transfer of wealth of enormous proportions from savers to spenders/debtors. If you have been a saver you have been under attack for years, and if the FED is crazy enough to follow the other fools down the rabbit hole to the land of NIRP, it will be a full-on nuclear war on savers.
Sent from my iPad using Early Retirement Forum
|
|
|
02-29-2016, 09:14 AM
|
#37
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
|
Quote:
Originally Posted by OrcasIslandBound
I'm not sure that this study is so inaccurate as some members of this forum are making out to be. The following is a clip from the report used for this study. Looks pretty well documented to me.
|
They asked people for the total savings. It's good.
In the past, many articles just used the balance of accounts at a brokerage or a 401k custodian to prove that retirees will be in dire straits.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
|
|
|
02-29-2016, 11:52 AM
|
#38
|
Thinks s/he gets paid by the post
Join Date: Jun 2014
Posts: 1,069
|
Quote:
Originally Posted by LARS
Not to be flippant, but in a broader context what exactly do you think the last 8 years, and ZIRP, have been all about? It has been a systematic transfer of wealth of enormous proportions from savers to spenders/debtors. If you have been a saver you have been under attack for years, and if the FED is crazy enough to follow the other fools down the rabbit hole to the land of NIRP, it will be a full-on nuclear war on savers.
Sent from my iPad using Early Retirement Forum
|
Except that savers benefited the most as the markets tripled, and companies had records profits and cash holdings. But yeah....
Sent from my iPhone using Early Retirement Forum
|
|
|
Slightly more detailed info on how much American retirees have saved...
02-29-2016, 12:10 PM
|
#39
|
Thinks s/he gets paid by the post
Join Date: Oct 2009
Posts: 1,190
|
Slightly more detailed info on how much American retirees have saved...
Quote:
Originally Posted by dallas27
Except that savers benefited the most as the markets tripled, and companies had records profits and cash holdings. But yeah....
Sent from my iPhone using Early Retirement Forum
|
There is a big difference between savers (most) and stock market shareholders. While there is overlap, it is not any where near as great as you might think.
Edit: should also add that the tripling was from the bottom and for most stockholders the relevant benchmark is more like 50% i.e. The market was at 12,000 before plunging to 6,000 then going back to 16s today.
Sent from my iPad using Early Retirement Forum
|
|
|
02-29-2016, 12:18 PM
|
#40
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,936
|
Quote:
Originally Posted by target2019
As I grow older I have become more trusting of govt.
|
Exactly the opposite for me. When I was growing up I had a great deal of respect for the US government and I was very patriotic. Not anymore, however after traveling around the world several times, I still wouldn't want to live anywhere else. Read into that what you like.
Quote:
Originally Posted by target2019
It's the population I have lost faith in.
|
Not me. Hard to lose something I never had.
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|