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This site makes me depressed...
04-24-2013, 07:43 PM
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#1
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Recycles dryer sheets
Join Date: Nov 2012
Location: Kearneysville
Posts: 237
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This site makes me depressed...
Lots of good information, but this site has destroyed any illusions that I may have had about doing better than average in my retirement financial planning.
I used to pat myself on the back for putting 15%+ away each year, but on this site it seems like most sock away 25% +.....there is just no way to do that on just over $100,000 a year, with a wife that likes horses, among other things.
I also used to think that getting out at 62, maybe 60, with money to live at or above my current means was great, but then I read all these posts from 30 somethings that will be retired long before I am (49 at present).
Guess I am just jealous:-) I just need to save those articles that are periodically published showing how much the AVERAGE 50 year old has saved for retirement, to remind myself that I am doing OK.
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04-24-2013, 07:46 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Nov 2012
Location: Madeira Beach Fl
Posts: 1,403
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__________________
_______________________________________________
"A man is a success if he gets up in the morning and goes to bed at night and in between does what he wants to do" --Bob Dylan.
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04-24-2013, 08:00 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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The average person here is probably ahead of 95% of the general population when it comes to retirement planning. Keep that in perspective and keep the faith!
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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04-24-2013, 08:05 PM
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#4
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Confused about dryer sheets
Join Date: Feb 2013
Posts: 7
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yea these folks are crazy, according to the US Census bureau the average american has 3,800 in savings.
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04-24-2013, 08:07 PM
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#5
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,518
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It's not about being better than average, it is about achieving an objective. Don't blame DW, develop an objective you both can live with and then go after it!
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04-24-2013, 08:13 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2007
Posts: 1,085
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If you are putting 15%+ away each year, I'd say you are doing very well. And I agree with what Ziggy and MichaelB say.
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04-24-2013, 08:17 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Sep 2009
Location: Hong Kong
Posts: 1,688
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Quote:
Originally Posted by MichaelB
It's not about being better than average, it is about achieving an objective. Don't blame DW, develop an objective you both can live with and then go after it!
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+ 1
It's not about averages or outliers - it's about you, your life and your ambitions and getting on with achieving them.
__________________
Budgeting is a skill practised by people who are bad at politics.
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04-24-2013, 08:25 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Feb 2011
Posts: 1,795
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Saving 15+% puts you WAY ahead of the ave American. And that 'ave American' might think you are nuts for saving that much & not immediately spending it. Doesn't everyone NEED $200+/mo for smartphone service & apps
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04-24-2013, 08:34 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Mar 2013
Posts: 1,778
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Yeah, you're doing great. Don't compare yourselves to the knuckleheads here (and even if you do, you sound like you're in the average range). Like ziggy said, we are a bunch of outliers. I read somewhere that the average person entering retirement age has about $10,000 in savings.
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04-24-2013, 09:06 PM
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#10
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Administrator
Join Date: Apr 2006
Posts: 22,923
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I don't see this as some sort of race. It's more like perfecting my golf swing - just me, working on making improvements in my own life.
__________________
Living an analog life in the Digital Age.
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04-24-2013, 09:13 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Jun 2010
Posts: 2,301
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"Don’t waste your time on jealousy; sometimes you’re ahead, sometimes
you’re behind…the race is long, and in the end, it’s only with
yourself."
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04-24-2013, 10:15 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Feb 2011
Location: West Tx
Posts: 1,392
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My husband and I are more like you are. I read here because everyone has great advice and knowledge. We also will need to work till 62-3 to meet our goals of not having to worry about money, but at the same time we won't be wealthy even then. However, we are so much better off than most people we know our age, that I do feel alot of satisfaction.
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04-24-2013, 10:28 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Bernalillo, NM
Posts: 2,717
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Quote:
Originally Posted by Ally
My husband and I are more like you are. I read here because everyone has great advice and knowledge. We also will need to work till 62-3 to meet our goals of not having to worry about money, but at the same time we won't be wealthy even then. However, we are so much better off than most people we know our age, that I do feel alot of satisfaction.
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+1
It's about knowing what your situation is that is important, and being able to prioritize about what you can spend comfortably, not blindly assuming everything will be happy, happy, happy in some vague way. Facts and information are important.
My now departed FIL once made the statement, when DW and I were asking about how he would get by, he said "someone will take care of me". If I weren't driving a car at the time, I might have fallen out of my seat.
__________________
"We live the lives we lead because of the thoughts we think" ...Michael O’Neill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to accept the illogical"...Anonymous
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04-24-2013, 10:52 PM
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#14
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Recycles dryer sheets
Join Date: Jul 2008
Location: Sacramento area
Posts: 467
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Slow and steady really does win the race. Keep plugging along. It WILL get there.
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04-25-2013, 12:03 AM
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#15
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Recycles dryer sheets
Join Date: Feb 2013
Posts: 103
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Quote:
Originally Posted by Sniggle
I used to pat myself on the back for putting 15%+ away each year, but on this site it seems like most sock away 25% +.....there is just no way to do that on just over $100,000 a year, with a wife that likes horses, among other things.
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Oh yes there is. Although society may have programmed you otherwise, money, and the materiel things that it buys, doesn't have to be the primary fuel for happiness.
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04-25-2013, 12:15 AM
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#16
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Thinks s/he gets paid by the post
Join Date: Apr 2006
Location: North Bay
Posts: 1,246
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Quote:
Originally Posted by Gumby
I don't see this as some sort of race. It's more like perfecting my golf swing - just me, working on making improvements in my own life.
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+1
We are here to share and support each other toward our goals, not compare and compete. And it sounds like you have good habits and are well on your way to achieving your goals. Talk to your wife and see if it's time to update those goals and habits.
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04-25-2013, 04:21 AM
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#17
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Thinks s/he gets paid by the post
Join Date: Mar 2012
Posts: 1,555
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Choices to make - no right or wrong. Spend it now or save it to spend it later. There may be no 'later'. Life's funny that way. There can be a balance, it just takes planning and discipline.
__________________
"Growing old is no excuse for growing up."
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04-25-2013, 06:47 AM
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#18
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Thinks s/he gets paid by the post
Join Date: Oct 2010
Posts: 2,459
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With time it will seem as if some lost relative is adding money to your accounts. Naw it is just compounded growth. At some point 5% of a bunch of money is a lot of months in early retirement.
__________________
For me experiences are not good or bad, just different
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04-25-2013, 06:54 AM
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#19
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Full time employment: Posting here.
Join Date: Jul 2011
Location: South Florida
Posts: 551
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Gosh, when I began w*orking, the rule of thumb (or so I was told and so I did) was to save 10%. It worked for me.
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04-25-2013, 07:06 AM
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#20
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,150
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If you started young, saving and investing 15% will serve you very well, and it puts you out in front of 95% of the population. No reason to beat yourself up. And it's normal to save an increasingly higher % as you get older, try to work that into your plans. You're doing very well, but watch those equestrian expenses.
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
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