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Old 02-23-2016, 11:45 AM   #41
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Hmm, my grandparents have been retired for as long as I can remember. I'm Asian so for me, multi-generational households are the norm. Of course in our case, the middle generation live in the family home and fund their parents retirement while the older generation are built-in babysitters so both husband and wife can go to work.

Yea. That's true. Asian culture, having lived in Asia for 25 years, is indeed different from western retirement culture. Multi family living in the USA is hardly the norm.
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Old 02-23-2016, 12:00 PM   #42
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Quote:
Originally Posted by hnzw_rui View Post
Hmm, my grandparents have been retired for as long as I can remember. I'm Asian so for me, multi-generational households are the norm. Of course in our case, the middle generation live in the family home and fund their parents retirement while the older generation are built-in babysitters so both husband and wife can go to work.
I'm partially funding my parents' retirement - it's called Social Security

I can't imagine living with my parents as an adult.

Well except for about 2 months when I was moving back to Houston and looking for a house. I actually lived with them in my 30s. When someone asked me where I lived and I said "with my parents" I instantly became the biggest loser in the room.

Back on topic - what happened to those threads where someone said they had an accurate calculator but couldn't comment on it? Holding out on us?
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Old 02-23-2016, 12:02 PM   #43
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I never fully trusted any retirement calculator. I ran it to get a rough idea. But also withholding some assets just in case I'm wrong. Who am I going to go after if my numbers are wrong when I'm in my 90s.


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Old 02-23-2016, 12:03 PM   #44
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Yea. That's true. Asian culture, having lived in Asia for 25 years, is indeed different from western retirement culture. Multi family living in the USA is hardly the norm.

It's not universal, having lived in Asia for 10 years, I can tell you it varies from household to household. It's actually a very foreign concept for my family.


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Old 02-23-2016, 12:32 PM   #45
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Sure I did just about every free retirement calculator known to man. Sure they made me feel good. I also paid to have an independent study done. But, there are easy ways to set retirement scenarios up on Excel spreadsheets which I did for my own peace of mind. My breakdown was:

Retirement holdings at one point in time
One with early SS
Worst case scenario
Worst case scenario early SS

Overlayed that with my various budgets. Conservative returns of 4%. A bit obsessive but effective.

Now just waiting to exit.
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Old 02-23-2016, 03:55 PM   #46
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Newsflash: Tenured faculty with lifetime appointments critique retirement calculators' failure to predict with 100% certainty the financial security of everyone else.
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