How much saved for retirement?

[V00DOO]

No option for negative.

 

[brtspears2]

24.
-$218,000, but if you wanna count the equity in my home (which, should never be considered a retirement nest egg), in the black by $30-40k.

 

[igowerf]

23. Saved up enough for a trip to Europe and a widescreen LCD. I'll start saving for retirement when I get back from Europe.

 

[DCFife]

35, started saving just under 4 years ago. $39k in 401(k), $6k in Roth IRA, about $26k in stocks, $95k in cash.

 

[StormRider]

43, about 85K in my 401/403(K) plans, 35K in savings, 5K in stocks and I paid about 200K for my condo and I've seen prices in the 300K range now so maybe I have about 100K in equitity?

I'm sort of worried about being way behind because I languished around in grad school for too long.... I have a feeling I will need to keep working until I die.

 

[T9D]

I'm 30

I dont save any money. I invest it all in rental properties. So I dont really know. I have been averaging $10,000 a month in equity on 4 of my places in this last year since I started. And I'm buying two more within the next month or two. I'm just going to keep doing that. And then of course I'll always have the rental money coming in. So I dont need retirement money my income will keep growing till I die, even if I stop buying places and stop doing anything exept collect rent.

 

[Slew Foot]

Originally posted by: SarcasticDwarf
ok, whoever it is that has 500k+ saved and is in their thirties, I will take your job.

Hoping for about 3 mill by 45.

 

[Slew Foot]

Originally posted by: tk109
I'm 30

I dont save any money. I invest it all in rental properties. So I dont really know. I have been averaging $10,000 a month in equity on 4 of my places in this last year since I started. And I'm buying two more within the next month or two. I'm just going to keep doing that. And then of course I'll always have the rental money coming in. So I dont need retirement money my income will keep growing till I die, even if I stop buying places and stop doing anything exept collect rent.

Talk to us in 3 years after the bubble pops. See how much you have then. I sold my rentals last year and have been watching the struggling flippers I sold them to lose 1000/mo on the rental, and even more on the home equity.

 

[T9D]

Originally posted by: Slew Foot

Originally posted by: tk109
I'm 30

I dont save any money. I invest it all in rental properties. So I dont really know. I have been averaging $10,000 a month in equity on 4 of my places in this last year since I started. And I'm buying two more within the next month or two. I'm just going to keep doing that. And then of course I'll always have the rental money coming in. So I dont need retirement money my income will keep growing till I die, even if I stop buying places and stop doing anything exept collect rent.

Talk to us in 3 years after the bubble pops. See how much you have then. I sold my rentals last year and have been watching the struggling flippers I sold them to lose 1000/mo on the rental, and even more on the home equity.

Depends where you live and how you do it. I buy at the bottom of the market and get them below market value (the ones I find). They are fixers that I remodel myself. So I get a lot of equiety right off the bat from the remodel. It's dirt cheap to remodel and maintain when you can do it all yourself. Materials cost almost nothing. I have a lot of room also for rent to vary up and down. And there is still a ton of room for growth here comparing housing to income.

If I was in California somewhere then I'd say yes I'd be worried for sure. But I'm in Portland and it would just be inpossble for the market to fall back down to where I got it. It just wont. I really watch what I invest in too. I keep a sharp eye on the market and my investments.

 

[Slew Foot]

Oregon and Washington are by my calculations pekaing right now and are about 6 months behind the CA bubble. Youve had a lot of CA equity $$$ flow there (as well as Phoenix and florida) to help prop up the market but after CA pops, the second homes that Californians bought up are going to be dumped and youll see some declines. Not saying that you cant make money, but it's going to be a lot tougher.

 

[ponyo]

I don't plan on retiring, and I'll leech off the govt like everyone else.

 

[Blayze]

26

$0

 

[thegimp03]

Only 23 but have a decent savings, mutual funds, and 401k. Having a stable job, and not spending a lot of money works well. For me my largest expense every month is rent.

 

[Kaieye]

 

[HardcoreRobot]

20s. 20+

 

[jadinolf]

Originally posted by: MetalMat
24

Couple cases of beer, 5th of jack daniels, couple pounds of weed, and an acoustic guitar

See you during the apocalypse

That's really all you need at 24.

 

[FlashG]

60 now, I plan on retiring in a couple of years with a little over $1m in totatal savings & equity. I'm not going to quit working in total but I want to travel a bit and play with my kit car.