Retirement

[Cogman]

So, I'm young and I'm thinking about retirement (Or at least planning for it). What is your current retirement plan? Whats a good method to it?

I was think about doing CDs up until retirement, but don't know if this is the wisest route to take.

 

[Kirby]

I work for the gubment, so I've got pretty retirement in addition to my TSP.

 

[hiromizu]

I'm prolly gonna die young so no plans for me. Live fast and furious.

 

[Feldenak]

What retirement? I'll drop dead at my desk.

 

[MovingTarget]

Lets see....the three-legged stool of retirement: SS, Private savings/investments, Corporate pensions.

1) SS is either going to be gutted or slashed, and will never reach me in its current form (I'm pro-SS, but the numbers don't look good for my generation)
2) You can't invest if you can't get a job, and as we've seen lately, a 401k or other plan can crash pretty harshly and wipe out years of work
3) These hardly exist anymore as they've moved to riskier 401k plans. Damn.

So I guess that means I have a few good years to pick out a nice place under an interstate bridge.....

 

[imported_Imp]

No idea. Just only about to start my career, and I'm only planning my career change.

 

[xanis]

I've resigned myself to the fact that I'm screwed. I'll just deal with it the best I can.

 

[Semidevil]

100/month for 40 years?

 

[boomhower]

Hopefully my state govt pension will still around. Hopefully my investments will net around 1 million (I know its not going to be anything like it is today). Hell its hard to tell what kind of shape the country itself will be by the time we get to that point.

 

[IronWing]

Originally posted by: Semidevil
100/month for 40 years?

You would have saved ~120,000 in real dollars (assuming an average return of 4% over inflation). I doubt one could retire on this amount.

 

[HappyPuppy]

I will begin collecting my UNION pension in about five months. I worked hard and have earned every penny of it. I am holding off on filing for my Social Security welfare check and Medicare until I am sure all you young turds are REALLY hurting. I will then being colecting the SS and rub it in your faces.

Oh, you think the politicians are going to change or lower SS? You are wrong, because AARP and the senior citizens are the most powerful voting block in the country.

Good luck with yor 401k's and IRA's.

hp snickers

 

[dbk]

Originally posted by: nkgreen
I work for the gubment, so I've got pretty retirement in addition to my TSP.

 

[IronWing]

I like this retirement calculator:
http://cgi.money.cnn.com/tools...irementplanner_101.jsp
Ain't saying it is right or wrong, just that I like it. The reason I like it is because I do. Also, it allows you to fine tune your assumptions and also has a retirement cash flow table.

 

[SonnyDaze]

What is this retirement you speak of?

 

[Leros]

Have 4 children. Each will owe me 25% of their paycheck as long as I'm still alive.

 

[IronWing]

Originally posted by: Leros
Have 4 children. Each will owe me 25% of their paycheck as long as I'm still alive.

Keep us updated on how that works out for you.

 

[Jadow]

Just max out 401k and Roth IRA, max out wife's Roth, invest in stocks till age 40, then start shifting to bonds, using a 100- you're age model for equity/bonds ratio.

Have house paid off at age 45, and retire early around 52-53 while my younger wife continues to work.

edit- also wife is a teacher and is in a killer pension plan from the state.

 

[Schadenfroh]

I will likely be assassinated by those wishing to end my cruel dictatorship long before then.

 

[nanette1985]

Originally posted by: SonnyDaze
What is this retirement you speak of?

ditto

 

[Dr. Detroit]

Max out the 401K every year- growth funds

Some individual stocks

cash savings in low risk CD's - when the Govt does not interfere in the markets the rate of return is pretty decent at 5.5% or higher.

2yrs ago the plan was to retire at age 45 - I don't need a mcmansion in Santa Barbara - but with my 8% rate of return estimate completely in the tank I'm thinking age 50 now.

Thought process is:
must survive from age 45 to age 60 on cash savings
At age 60 begin to tap retirement funds
At age 67 begin to draw on SSI

I do plan on doing some work when I retire but it will not be the 50+hr weeks I've been pulling the last 9yrs.


Lots of things to consider - if Obama universal health care is established you will need significantly less money to retire as I budgeted $1,500 a month for medical insurance for the two of us at age 45 - 60. May be a bit high at age 45 and a bit low at age 60 but the average should work out.

Also have to consider you will most likely only recieve 50 - 60% of your estimated SSI payments when you retire.

 

[OogyWaWa]

hookers and blow

 

[alkemyst]

SHIT SON...first walmart paycheck and I am done.

 

[mugs]

Originally posted by: MovingTarget
Lets see....the three-legged stool of retirement: SS, Private savings/investments, Corporate pensions.

1) SS is either going to be gutted or slashed, and will never reach me in its current form (I'm pro-SS, but the numbers don't look good for my generation)
2) You can't invest if you can't get a job, and as we've seen lately, a 401k or other plan can crash pretty harshly and wipe out years of work
3) These hardly exist anymore as they've moved to riskier 401k plans. Damn.

So I guess that means I have a few good years to pick out a nice place under an interstate bridge.....

Yes, because the stock market will never, ever recover.

 

[brtspears2]

Not worried, I been told with my eating habits and weight problem, I will drop dead by ~50.

 

[Alone]

I've pretty much secured myself by joining the military. If I retire after my 25 years, I'll be 45. Then I can join class b reserves and make 98% of reg force pay, as well as my pension.

Plus, I've got some minor investments for now.