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Re: average savings
Old 09-22-2006, 10:04 AM   #61
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Re: average savings

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Originally Posted by SLC Tortfeasor
Yeah, it is time consuming to set things up.* Getting my accounts all interlinked was sort of a pain, but you're right that it's nice to be able to move money around.*

Don't look to me for investment advice!* I'm only getting into it.* I've got a variety of stock mutual funds, and a few stocks for just playing around.* Vanguard's target retirement date funds (or "lifecycle" funds as they're known in other circles) are good no-brainers.
Don't like Lifecycle funds...............a great idea that's been overmarketed............
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Re: average savings
Old 09-22-2006, 10:28 AM   #62
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Re: average savings

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Originally Posted by FinanceDude
Don't like Lifecycle funds...............a great idea that's been overmarketed............
What is your rationale?


I think they are great although I don't currently own any. If I had to pick a single fund, I'd probably pick a target retirement/lifecycle type fund. Same for recommending something to family/friends/children who just need a decent investment to start out with. Simple, easy to implement, low cost jack-of-all-trades funds. Just make sure to pick the one that fits your risk profile.

They beat the heck out of most other funds with much higher sales fees + expenses.
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Re: average savings
Old 10-08-2006, 09:24 AM   #63
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Re: average savings

We save 55% of our net, 40% of our gross (We are DINKs, 39 and almost 38 with plans to retire in our early 50s). No debt at all (not even mortgage). It's so nice to see the numbers that folks here are saving. You have no idea just how rare we all are here.....
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Re: average savings
Old 10-08-2006, 04:28 PM   #64
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Re: average savings

The problem with most life cycle fund investing is that people buy them and then have loads of other investments that defeat having the lifestyle funds.

Lifestyle funds work great but need to stand on their own. Some may be more or less aggressive but they still provide far better diversification and planning than 99% of the people out there do on their own when they have such little knowledge about finance as most do..
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Re: average savings
Old 10-09-2006, 10:26 AM   #65
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Re: average savings

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Originally Posted by mathjak107
The problem with most life cycle fund investing is that people buy them and then have loads of other investments that defeat having the lifestyle funds.

Lifestyle funds work great but need to stand on their own. Some may be more or less aggressive but they still provide far better diversification and planning than 99% of the people out there do on their own when they have such little knowledge about finance as most do..
Agree with your post 100%.................

Besides, if you do some homework on how to invest, you probably will do better...........

Don't like the FIDO Freedom Funds either............
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Re: average savings
Old 10-09-2006, 12:40 PM   #66
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Re: average savings

We live by the "pay ourselves first" motto. So we have all savings swiftly tucked away before it hits our hot little hands. We max out the 401(k), with added $5k company match. We max out both Roth's each year and put $1000 a month in a MM account. We are fortunate enough, albeit from unfortunate reasons, to have about $23K per year in tax-free military retirement benefits. (VA and Combat related disability) So, in essence, we are investing in our Roth's with a portion of our tax free money...

All in all, we save about $40k per year. Not bad, but not super great, since we both got obliterated by divorce 5 years ago, and we started from scratch @ 38 and 32. So we lost time, more than anything...If, when, I go back to work, I can only work for a company that will allow me to max out my 410(k) contributions. Otherwise it doesn't make tax sense for us to do that. We will get slaughtered by Uncle Sam. I have found that so many companies put a cap on the % of salary you can invest in a 401(k). If you make $40k a year and they only allow 25% max contributions, well...big whoop! You're not really maxing out your 401(k)...

Good luck to the OP (original poster). So many people on this DB are on the right track. It's really great to see that...I am excited to learn from everyone on here.
Now, can we get the other 80% of this country on track?
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Re: average savings
Old 10-09-2006, 01:24 PM   #67
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Re: average savings

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Now, can we get the other 80% of this country on track?
But then who'd contribute their payroll taxes to Social Security & Medicare?
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Re: average savings
Old 10-09-2006, 06:17 PM   #68
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Re: average savings

I second, third, and fourth Nords' comment. Please people, some of us rely on SS benefits!
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Re: average savings
Old 10-09-2006, 06:49 PM   #69
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Re: average savings

Boy do i see the working stiffs getting hammered paying for ss and medicare as no politicians want to tell 80 million voting baby boomers they either cutting something or raising there taxes.
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Re: average savings
Old 10-09-2006, 06:50 PM   #70
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Re: average savings

wow my 1000'th post. no wonder my hair hurts from all this thinking.
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Re: average savings
Old 10-09-2006, 09:14 PM   #71
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Re: average savings

Quote:
Originally Posted by mathjak107
wow my 1000'th post. no wonder my hair hurts from all this thinking.
JG used to have a trick to increase his post count. He would use 2 to 4 posts in a row on the same thread.
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Re: average savings
Old 10-09-2006, 11:16 PM   #72
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Re: average savings

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Originally Posted by 73ss454
JG used to have a trick to increase his post count. He would use 2 to 4 posts in a row on the same thread.
There's a difference between post count and post content.
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Re: average savings
Old 10-10-2006, 07:57 AM   #73
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Re: average savings

Quote:
Originally Posted by 73ss454
JG used to have a trick to increase his post count. He would use 2 to 4 posts in a row on the same thread.
Hey. That wasn't a "trick". I think and write so fast that by the time I hit
"Post" I had a new idea which (of course) was too good to keep to myself.

JG
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Re: average savings
Old 10-10-2006, 07:59 AM   #74
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Re: average savings

Quote:
Originally Posted by Nords
There's a difference between post count and post content.
Now there you and I are in complete agreement.

JG
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Re: average savings
Old 10-10-2006, 02:57 PM   #75
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Re: average savings

Quote:
Originally Posted by Nords
But then who'd contribute their payroll taxes to Social Security & Medicare?
Did I say something offensive? That wasnt my intention. What I meant was that that 80% of Americans aren't doing squat about their financial futures. The average balance in most 401(k) accounts upon retirement is only $60k. I know that people rely on SS benefits, especially the ones who draw it today, like my grandparents, parents, and the new up and coming baby boomers. But, for us, late boomers, Gen Xs, we think of SS as a perk we might get when we retire...More like a bonus check...We don't plan our retirement around it. We can't do that to ourselves.
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Re: average savings
Old 10-10-2006, 05:00 PM   #76
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Re: average savings

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Originally Posted by Mr._johngalt
. . . I think and write so fast that by the time I hit
"Post" I had a new idea which (of course) was too good to keep to myself.

. . .
Isn't that an indication of thinking slowly . . . as opposed to fast? If your thought processes occured fast, then you would be able to formulate them into a single cohesive post, or edit out the nonsense and produce one (or fewer) reasonable posts. You might rationalize this habit by saying that you type fast -- at least faster than you can think. But that's different than claiming that you think fast.
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Re: average savings
Old 10-10-2006, 05:16 PM   #77
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Re: average savings

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Originally Posted by sgeeeee
edit out the nonsense
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Re: average savings
Old 10-10-2006, 08:47 PM   #78
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Re: average savings

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Originally Posted by sgeeeee
Isn't that an indication of thinking slowly . . . as opposed to fast? If your thought processes occured fast, then you would be able to formulate them into a single cohesive post, or edit out the nonsense and produce one (or fewer) reasonable posts. You might rationalize this habit by saying that you type fast -- at least faster than you can think. But that's different than claiming that you think fast.
Whatever.

JG
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Re: average savings
Old 10-10-2006, 09:59 PM   #79
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Re: average savings

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Originally Posted by Mr._johngalt
Whatever.

JG
Clearly a lot of quick thought went into that one.
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Re: average savings
Old 10-11-2006, 10:22 AM   #80
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Re: average savings

Quote:
Originally Posted by sgeeeee
Clearly a lot of quick thought went into that one.
The Preview button does wonders for improving the quality of submissions...(Alt-p)
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