A Record Low for Retirement Plans

Mar 19, 2013 | Posted by: Mr_Bill | Full story: abcnews.go.com

Despite an improving economy and a boost for most 401k plans with the recent rise in the stock market, Americans' confidence in their retirement has fallen to a new low.

Nearly 60 percent of workers have less than $25,000 in total household savings and investments, according to today’s report by the Employee Benefit Research Institute. Only 13 percent of those surveyed said they were very confident about retirement, while 28 percent said they had no confidence they’ll be able to retire comfortably. That’s the highest level in 23 years of annual reports. In the past five years, the percentage of workers saving for retirement fell from 65 percent to 57 percent.

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idiots united

Seattle, WA

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#22
Mar 19, 2013
 

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WeTheSheeple wrote:
<quoted text>
So a smart investor would have got into the market after the crash in '08 and would be preparing to get out around the 15,000 point.
Those who get greedy will get burned.
This smart investor (your truly) got shaken badly in 9/11 crash I never had the vision after that for all I know dow 3,000 is still obese fat lady that could sing a nasty song. How would I know Obama and bernanke would rig the stocks without respite. It seems like it was always too late to get in the flying hovering pigs.

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

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#23
Mar 19, 2013
 
omg wrote:
how can anyone retire when we who work have to pay for 5 who dont work. enjoy your free barry cash and free barry phone. oh and have another free beer with your ebt cards.
ill try and work some overtime so you pukes can enjoy more "free" stuff..........
Good, now get off Topix and get back to work you slacker.

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

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#24
Mar 19, 2013
 

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idiots united wrote:
<quoted text> This smart investor (your truly) got shaken badly in 9/11 crash I never had the vision after that for all I know dow 3,000 is still obese fat lady that could sing a nasty song. How would I know Obama and bernanke would rig the stocks without respite. It seems like it was always too late to get in the flying hovering pigs.
I've been putting $1000/mo in a basic savings account every month for the past 10 years just in case something unforseen happens to my stock investments. Plus we have our military pensions & social security when we turn 62; we'll be making about $75k per year just in retirement income.

Scary as it may be, most people have no choice but to invest in the market in some form- either stocks or mutual funds or 401ks; unless of course they want to work the rest of their lives.

SO glad I stuck it out for 20.

idiots united

Seattle, WA

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#25
Mar 19, 2013
 
WeTheSheeple wrote:
<quoted text>
I've been putting $1000/mo in a basic savings account every month for the past 10 years just in case something unforseen happens to my stock investments. Plus we have our military pensions & social security when we turn 62; we'll be making about $75k per year just in retirement income.
Scary as it may be, most people have no choice but to invest in the market in some form- either stocks or mutual funds or 401ks; unless of course they want to work the rest of their lives.
SO glad I stuck it out for 20.
Well at least maybe you don't need to retire in other country where cost and standard of living is/are cheaper. We have our retirement home all paid for in the pacific/asia area so it's set. Your retirerment is going to be only 70,000 higher than me and wife. LOL!
idiots united

Seattle, WA

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#26
Mar 19, 2013
 
So then I can start living with 1200 - 1500 a month. Lots of people lives on $500 or less a month in that place. My annual real estate tax for more than 3500 sqft home is anout $250 and no heat or aircon needed. It's relatively inexpensive and less stress.

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

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#27
Mar 19, 2013
 
idiots united wrote:
<quoted text> Well at least maybe you don't need to retire in other country where cost and standard of living is/are cheaper. We have our retirement home all paid for in the pacific/asia area so it's set. Your retirerment is going to be only 70,000 higher than me and wife. LOL!
I did time on Guam for a couple of years. Had a great time until I got "island fever" from driving in a circle all the time!

Housing is the biggest expense for most people in retirement, so at least that's one less thing you have to worry about. We recently paid off our property- very liberating!

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

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#28
Mar 19, 2013
 

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idiots united wrote:
So then I can start living with 1200 - 1500 a month. Lots of people lives on $500 or less a month in that place. My annual real estate tax for more than 3500 sqft home is anout $250 and no heat or aircon needed. It's relatively inexpensive and less stress.
A lot of people in the US live on $500 a month; obviously not very well though......
idiots united

Seattle, WA

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#29
Mar 19, 2013
 
WeTheSheeple wrote:
<quoted text>
I've been putting $1000/mo in a basic savings account every month for the past 10 years just in case something unforseen happens to my stock investments. Plus we have our military pensions & social security when we turn 62; we'll be making about $75k per year just in retirement income.
Scary as it may be, most people have no choice but to invest in the market in some form- either stocks or mutual funds or 401ks; unless of course they want to work the rest of their lives.
SO glad I stuck it out for 20.
Make that about $2,000 higher per month excluding your 401K. Be careful, some savers will go on saving until the end, makes saving for better life futile.

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

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#30
Mar 19, 2013
 

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idiots united wrote:
<quoted text> Make that about $2,000 higher per month excluding your 401K. Be careful, some savers will go on saving until the end, makes saving for better life futile.
No worries there. I've been unofficially retired for years and make a point of doing those things I've always wanted to do.

I try to live for today because you never know when tomorrow won't come. My ideal would be to spend the last penny I have on my last day on earth.

My folks are in their 70's are still pinching pennies to add to their savings (which his plenty). I keep asking them just WHAT they're saving for? But they've always lived like that so it's probably more habit than anything.
XDR

Miami, FL

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#32
Mar 20, 2013
 
idiots united wrote:
<quoted text> This smart investor (your truly) got shaken badly in 9/11 crash I never had the vision after that for all I know dow 3,000 is still obese fat lady that could sing a nasty song. How would I know Obama and bernanke would rig the stocks without respite. It seems like it was always too late to get in the flying hovering pigs.
What most individual investors do: Buy High in the euphoria, Sell Low in the panic

The only real way to make money in stocks outside of luck or insider knowledge: Diversify into index funds, buy and hold, dollar cost average
lolol

Albuquerque, NM

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#33
Mar 20, 2013
 

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with the fed printing money to pump into the stock market it lowers the value of every account, retirement or bank. the dollar devalues more every time money is printed with nothing backing it. this policy has been refined to a fine art the last 4 years and is the equivelant of taking money from every account.
XDR

Miami, FL

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#34
Mar 20, 2013
 
lolol wrote:
with the fed printing money to pump into the stock market it lowers the value of every account, retirement or bank. the dollar devalues more every time money is printed with nothing backing it. this policy has been refined to a fine art the last 4 years and is the equivelant of taking money from every account.
...nope. Retirement accounts invested in stocks have increased due to increased monetary liquidity, not decreased. Without QE 1 and 2 the market indexes would be much lower.
idiots united

Seattle, WA

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#35
Mar 20, 2013
 
XDR wrote:
<quoted text>
What most individual investors do: Buy High in the euphoria, Sell Low in the panic
The only real way to make money in stocks outside of luck or insider knowledge: Diversify into index funds, buy and hold, dollar cost average
I can't be that stupid to leave money unused by yours truly. It sucks to have too much of anything and then die a rich idiot, living lavishly is just that lavishly living, it robs you out of feeling the beauty and joy of nature. With too much money it makes one a idiot compulsive materialistic hoarder. I have my brakes working, do you? LOL!
XDR

Miami, FL

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#36
Mar 20, 2013
 
idiots united wrote:
<quoted text> I can't be that stupid to leave money unused by yours truly. It sucks to have too much of anything and then die a rich idiot, living lavishly is just that lavishly living, it robs you out of feeling the beauty and joy of nature. With too much money it makes one a idiot compulsive materialistic hoarder. I have my brakes working, do you? LOL!
Whenever you find yourself with too much money on hand, do let me know. I'll give you an address to send it to in certified funds to relieve you of your burden. I won't even charge you for my service.
lolol

Albuquerque, NM

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#38
Mar 20, 2013
 
XDR wrote:
<quoted text>
...nope. Retirement accounts invested in stocks have increased due to increased monetary liquidity, not decreased. Without QE 1 and 2 the market indexes would be much lower.
.
Your dollar amount increased but with the fed printing 85billion a month and dumping it to investors it reduces the dollars value. You had 90.00 and with gains now have 100.00 now but gas has risen a buck a gallon and milk is 4 bucks a gallon, utilities cost more, all groceries are in smaller containers. What did you gain ? You're spending as much or more of the 100.00 you have today compared to buying the same items when you had 90.00 last year and with last years prices. To get a real wake up call go take 10,000.00 of your retirement out, convert it to euros and see what a european vacation costs.
Eleanor

Buffalo Grove, IL

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#39
Mar 20, 2013
 

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wtf wrote:
<quoted text>what rock have you been living under? i work hard i dont blow my money. i dont even eat out. you must be one of the low lifes who think we the people owe you something. well we dont owe you sheet. get a job! meanwhile enjoy your free internet paid by hard working tax payers.
Apparently you haven't done well enough in life to be able to PROVIDE for yourself beyond your basic needs.

Some of us worked at getting a good education so we can do better than simply living paycheck to paycheck.
XDR

Miami, FL

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#40
Mar 20, 2013
 
lolol wrote:
<quoted text>
.
Your dollar amount increased but with the fed printing 85billion a month and dumping it to investors it reduces the dollars value. You had 90.00 and with gains now have 100.00 now but gas has risen a buck a gallon and milk is 4 bucks a gallon, utilities cost more, all groceries are in smaller containers. What did you gain ? You're spending as much or more of the 100.00 you have today compared to buying the same items when you had 90.00 last year and with last years prices. To get a real wake up call go take 10,000.00 of your retirement out, convert it to euros and see what a european vacation costs.
Many people's stock market gains have more zeros in them than your example. As in, a $10,000 gain over the last few years, not $10.$10K or even $1K buys a whole lotta gas and ice cream, and can surely buy more than they could have before the stock market rebound.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

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#41
Mar 20, 2013
 
High taxes = low pension savings.

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