There is no one rule for a dollar amount. Health care coverage, debt level and the part of the country you choose to live in ie Texas as opposed to California.I feel there is no one rule for the amount of money a coule needs at retirement.
Scott
Scott
of TX
@
Jul 15, 2009 14:35:54 PM
this article was GOOD!
i liked the story about the man who divorced his wife & spent a million on his new "arm trophy"!! Wouldn't THAT beat crying all of the time? jim fletcher
james fletcher
of IL
@
Apr 18, 2009 01:25:20 AM
this article was GOOD!
i liked the story about the man who divorced his wife & spent a million on his new "arm trophy"!! Wouldn't THAT beat crying all of the time? jim fletcher
james fletcher
of IL
@
Apr 18, 2009 01:25:20 AM
Retirement Savings
If a financial advisor was good at his job he wouldn't need to be working by the time he was 35. What's your advisors age? And yes, he works for HIS family not yours! The raiding of Soc. Sec. and Medicare has been done by both parties ever since it began! We would truely be well off if they had left it alone. Just ask Don Silver! How much could we have if we paid 6% into an IRA from the time we start working at age say 21, until we retire at age 67. Even at minimum wage, and an average 8% return, you'd end up with about 200,000 in savings. Increase your 6% to 10% and you should end up over ONE MILLION dollars. The MAGIC of TIME.
Kegler299
of TN
@
Apr 17, 2009 19:45:40 PM
Retirement Saving
At 72 I have learned one lesson about saving for retirement. That is -- it is my responsibility. The world is full of people who will help me save and invest money. They will offer any idea that i will buy. The truth is that they (brokers and investment counselors) are milking my assets. They are selling approaches and recommendations set up by their companies. They are not my friends and should not be considered as such.
JerryB2
jerryB2
of MD
@
Apr 17, 2009 13:32:42 PM
Inflation
Funny thing about basic economics. When I was a kid we used to watch a TV show called "the millionaire". He'd go around, find deserving recipients and hand them a check. The recipient was an instant millionaire. Happily married and now content, you'd think...
He divorced his wife and spent the million on his brand new "Arm Trophy". In 6 months he was broke, worn out and died...All with a smile on his face! LoL...
JUST KIDDING...ROFL
Don is actually right on...
Tom in San Diego
of CA
@
Apr 12, 2009 11:52:43 AM
If you don't protect
Social Security and Medicare from raids by conservatives who would like to give both over to corporations, you are most likely toast. Ditto your kids.
Muser
of NM
@
Apr 08, 2009 21:06:36 PM
Time is the best vehicle for becoming wealthy
I've shown examples of compound growth and received comments such as "That's magic," "It can't be true" and "How come no one ever showed me this before?" The key to a successful retirement is starting to save early. Time can make everyone a more successful investor. Our schools need to step in and teach the financial facts of life.
Scott of TX @ Jul 15, 2009 14:35:54 PM
james fletcher of IL @ Apr 18, 2009 01:25:20 AM
james fletcher of IL @ Apr 18, 2009 01:25:20 AM
Kegler299 of TN @ Apr 17, 2009 19:45:40 PM
jerryB2 of MD @ Apr 17, 2009 13:32:42 PM
Tom in San Diego of CA @ Apr 12, 2009 11:52:43 AM
Muser of NM @ Apr 08, 2009 21:06:36 PM
Don Silver of CA @ Apr 07, 2009 11:51:07 AM
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