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post #1 of 21 (permalink) Old 11-24-2009, 08:41 PM Thread Starter
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Retirement?

whats a good amount to retire with.
i had more money but i had it in a spot where i would not lose money and a friend told me to change it to where i would make more money and i did and then i lost from 89,000 to 53,000 in like 3 months. im 33 and i have it back up to like 84,000. i also i get 85.00 per year that im at work and i started when i was 18. i plan on retiring at 50
so i will get 85.00 x 32 years=2720.00 a month i get on top of my 401. will i be ok when i retire. i have a older lady that is across the street and she is on ss and she is waiting on a check all the time. just dont want to be like her
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post #2 of 21 (permalink) Old 11-24-2009, 08:47 PM
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It really doesn't matter. There won't be anything left of this country in five years, let alone 17.

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post #3 of 21 (permalink) Old 11-24-2009, 08:55 PM Thread Starter
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im not talking about ss but i know alot of people are getting it just because they are to lazy to get a job
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post #4 of 21 (permalink) Old 11-24-2009, 09:48 PM
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A lot can change by then. you've got enough money young enough, there is NO benefit to putting it in high risk areas....thats for people who need to make it quick....(or lose it)

Despite what you've heard, opportunity does not knock
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post #5 of 21 (permalink) Old 11-24-2009, 09:59 PM
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Smile Retirement

Depends on the cost of your hobbies after retirement! I don't know if anybody feels comfortable anymore, we still as taxpayers have to pay for the economic stimulus package, and who knows what else? It will depend on where you retire to as well. Out here in California the illegals and the people coming in under persecution (mostly former soviet union) use up all the social services available so many , many native CA. born are leaving in retirement for better living conditions. I wouldn't count on social security at all. Too many people that haven't paid in are drawing benefits, thats why its going broke. Keep stuffing as much as you can into your 401k, but don't be too risky. I congratulate you on holding down a job since so young , shows a good work ethic. Keep saving but do smell the roses and have some fun in your life too!
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post #6 of 21 (permalink) Old 11-25-2009, 01:53 PM
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I read a book many years ago titled "The Millionaire Next Door". It really opened my eyes about money in general and debt in particular.

In a nutshell, if you don't have a mortgage or a car payment, how much money do you need to keep the lights on and feed yourself? If you do have a mortgage and car payment, you have no business even talking about retirement.

That is why my racecar is so slow. I spent all of my money paying off all the debt I could. I need to work 12.5 more years at my union thug job, and you can bet your *** I want to leave as soon as possible. (unnecessary rant edited out)

I work with some (not all) guys who have done enough time to retire, but they have dug themselves into a hole that they can't get out of . Some people can make 120K a year and spend 150K. That is the hurdle to get over.........

But I tell you what, when I roll up to work in my '82 Mustang, there are some BEAUTIFUL new F250's and F350's parked there. And you should see the boats some of these guys have. And the houses !!! Holy crap !!!

Like George Carlin said, "WE GOT TOO MUCH ****ING STUFF !!!!"

And we can make ourselves slaves to our "stuff".


Typed at the desk in the single wide trailer in Charles City County, VA.

So how do you wanna live??.........

Where's my beer and that half inch wrench?

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post #7 of 21 (permalink) Old 11-25-2009, 03:24 PM Thread Starter
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as now im not working i had a bike about 3 years ago and i have worked off and on scents then. i had to move back to my parents. i made about 100,000 a year before me bike wreck. when i return to work like 5.25 a hour goes to my 401 not from me but from my company i work for. i work 7 12s most of the time so it adds up fast.
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post #8 of 21 (permalink) Old 11-25-2009, 07:44 PM
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I saved just like you are doing in a 401K and it got ripped off by Qwest management (almost $300.000). Have you heard of Enron...Same thing. Don't count on anything. I wished now that I wouldn't have saved like I did. GOOD LUCK
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post #9 of 21 (permalink) Old 11-25-2009, 10:24 PM
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Last time i checked they still make pillow cases, and separate the mattresses from the box springs.
sounds like a more stable place to hide it.

Despite what you've heard, opportunity does not knock
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post #10 of 21 (permalink) Old 11-25-2009, 10:42 PM
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Cletus makes Dave Ramsey look like a noob......
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post #11 of 21 (permalink) Old 11-26-2009, 09:07 AM
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Quote:
Originally Posted by Mark O'Neal View Post
Cletus makes Dave Ramsey look like a noob......

Thanks Mark. I'm surprised that my wife puts up with me. She keeps hinting around about a new Challenger, and I tell her, "There is NOTHING wrong with your '68 Charger. It still runs FINE !!! "

Where's my beer and that half inch wrench?

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post #12 of 21 (permalink) Old 11-26-2009, 09:44 AM
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you will need much more money than that if you take into account inflation...and if you have expensive hobbies like drag racing....Im a 31 year old dentist and i plan to work til i die....what the hell else is there to do...ill get bored....my dad retired at 55 and got a job at 57 cuz he got tired of sitting around now he is 67 and just quit working again...and he is complaining already....i think he has adult a-d-d
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post #13 of 21 (permalink) Old 11-26-2009, 04:51 PM
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Im a dental lab tech and my wife said i can work till im 80, because its not stressfull, lol
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post #14 of 21 (permalink) Old 11-27-2009, 05:28 PM
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I'll probably just work 'til I die, then cover myself with dirt.

The older I get, the smarter Dad was.
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post #15 of 21 (permalink) Old 11-27-2009, 10:04 PM
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Smile retirement

Didn't you know thats how they plan to fix social security? Keep raising the retirement age , so you work till you die and never collect what you put in. Problem solved! If you truly want to leave anything at all to your kids you will probably never be able to retire, the cost of just getting by are too high now.
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