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Thread: NOT ENOUGH!

  1. #1

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    Default NOT ENOUGH!

    Retirement: A third have less than $1,000 put away

    Source: USA Today

    Retirement: A third have less than $1,000 put away

    Nanci Hellmich, USA TODAY 1 p.m. EDT March 18, 2014
    Most people aren't trying to figure out how much they'll need in their golden years.


    Most people have very little tucked away for retirement, and many aren't even trying to figure out how much they'll need later in life, a new national survey reveals.

    About 36% of workers have less than $1,000 in savings and investments that could be used for retirement, not counting their primary residence or defined benefits plans such as traditional pensions, and 60% of workers have less than $25,000, according to a telephone survey of 1,000 workers and 501 retirees from the non-profit Employee Benefit Research Institute and Greenwald and Associates.

    Only 44% say they or their spouses have tried to calculate how much money they'll need to save by the time they retire so that they can live comfortably in their golden years, the survey shows. Workers who have done calculations on what they need to save tend to have higher levels of savings than those who haven't crunched the numbers.

    "There's an incredible difference between those lucky enough to have a retirement plan and those who don't," says Jack VanDerhei, the institute's research director and co-author of the 2014 Retirement Confidence Survey. "What's really striking is that 73% of those without a retirement plan, such as an IRA, 401(k) or 403(b), have less than $1,000 in savings and investments."


    Read more: http://www.usatoday.com/story/money/personalfinance/2014/03/18/retirement-confidence-survey-


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  3. #2

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    Default Re: NOT ENOUGH!

    It will be OK, NANNY will take care of them, and you too!laughdog.gif
    Last edited by nnuut; 03-19-2014 at 09:49 AM.
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  5. #3

    Default Re: NOT ENOUGH!

    It'd be interesting to see the age breakouts for those respondents, as well as asking if individuals think they will ever retire. At 26, I'm saving for retirement, but really don't think I'll ever be able to.

  6.  
  7. #4

    Default Re: NOT ENOUGH!

    Yes, these kind of stats really need to be broken out by age group but rarely are.

    I did see a stat in last months AARP magazine that claimed 36% of those aged 55+ have less than $10,000 in savings & investments. They didn't quote their source so I was rather suspect of the number but it appears in line with the figures quoted here.
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  9. #5

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    Default Re: NOT ENOUGH!

    Too many sheep, daydreaming, planning their lives around watching American Idol and Walking Dead and assuming somebody (government via our tax dollars) will be there to pay their bills later in life. They'll vote it in to be sure they are taken care of.



    A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the Public Treasury. From that moment on, the majority always votes for the candidate promising the most benefits from the Public Treasury with the result that a democracy always collapses over loose fiscal policy always followed by dictatorship.

    - Alexander Fraser Tyler,'The Decline and Fall of the Athenian Republic'.
    "The flag stands for rights, not results. Time to grow-up buttercup"

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  11. #6

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    Default Re: NOT ENOUGH!

    Quote Originally Posted by PLANO View Post
    Too many sheep, daydreaming, planning their lives around watching American Idol and Walking Dead and assuming somebody (government via our tax dollars) will be there to pay their bills later in life. They'll vote it in to be sure they are taken care of.



    A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the Public Treasury. From that moment on, the majority always votes for the candidate promising the most benefits from the Public Treasury with the result that a democracy always collapses over loose fiscal policy always followed by dictatorship.

    - Alexander Fraser Tyler,'The Decline and Fall of the Athenian Republic'.
    You need to add the rest of that quote:

    The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.”
    Alexander Fraser Tytler
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
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  13. #7

    Default Re: NOT ENOUGH!

    Wow, isn't that a cheery thought. Maybe those folks think they only need to save enough for a 9mm round in retirement because who wants to live in a world like that.
    Allocations as of COB Dec 28 : 100% S. | Retirement Date:Dec 2022
    Past Returns:
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  15. #8

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    Default Re: NOT ENOUGH!

    Quote Originally Posted by Frixxxx View Post
    You need to add the rest of that quote:

    The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.”
    Alexander Fraser Tytler
    You guys can believe ANYTHING YOU WANT. It's a free country.

    Besides- it must be true- 'cause I read it on the internets.

    The Truth About Tytler

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  17. #9

    Default Re: NOT ENOUGH!

    Quote Originally Posted by James48843 View Post
    Besides- it must be true- 'cause I read it on the internets.

    The Truth About Tytler
    And where does your USA Today story fall in that theory?

    ("Internets." Was that a typo or part of the joke, because that is funny.)


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  19. #10

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    Default Re: NOT ENOUGH!

    Which one of you nuts has got any guts? -- Randle P. McMurphy
    ... stupidity will always find a way. -- Nnuut

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  21. #11

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    Default Re: NOT ENOUGH!

    I really don't care who wrote it or why, look back through history and it is an old story and has happened many times over.
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  23. #12

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    Default Re: NOT ENOUGH!

    None of this is important, nothing to see here, move along, wait! We need to save Ukraine!!!

    Ukraine Got Talent

    NWPF www.youtube.com/watch?v=c9FS1bxaGTg

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