Retirement savings ....Yikes !

[JDL538]

Homeland Security is buying ammo, agreed. They do every year. This years spending is not out of line with past years minus the spike in ammo prices. Several agencies get their ammo through them. A recent article was just written about it, I will try and find the link. Haven't heard about the tanks, but my local PD has a regional one the town paid part of. Doesn't seem too out of line for an agency we task with protecting us?

And if there is more to it then 99% of most think then what the heck can 1% do about it anyway. Go on with life, prepare for the worst, but live for what you hope is going to happen. If that doesn't work I heard Iceland and New Zealand are really nice.

I agree there are problems ahead but to refer to a situation (that didn't happen) in a tiny island across the world as Europeans having their savings account seized is ridiculous.

And your right about people being clueless, just look at the people we voted in.

They bought way more this Year than ever before 1.3 billion rounds enough to put 3 in every person in the U.S. ...Forbes wrote about the Tanks dozens of them, You can find it though Google. Cypus may be tiny but the Russian's KGB bank ,many Billions on deposit anything but small. Cyprus is just the start of it. JMO

 

[BuzzardA91]

It always seems when police shoot a bunch of rounds there are only a few hits, so I looked up the average. 9% hit ratio in a law enforcement shooting. They better order more if they want 3 for each of us. :laughing:

And as a previous poster pointed out how did a 1.6 billion approval became billions? The same way Europeans were having their savings of 25k and over seized on this very day, March 19 2013.

 

[JDL538]

Is that all You could come up with? 9% not good. Believe what You like it's no skin off my butt.

 

[Cat_Driver]

Don't worry the Libbies will take of everyone. That's what they want, they don't want people to be self sufficient. Cradle to grave, free cell phones, free food stamps, free rent, free cars, really what else does anyone need. This will make the Government very happy to have everyone on the Dole.

 

[Alan L.]

There will be so many at the trough when I retire, some of us will be sucking hind tit. Hopefully the economy picks up by then. If I sell the acreage and we move into a small house and never go out we might be able to make it without starving.

 

[Redneck in training]

So what do you guys think is the amount you should have in your 401K to retire now. Or next year.

 

[J F]

Give or take.

 

[Gunny]

I would hate to think that I would have to work all my life with no retirement in sight. I've got one brother like that, does carpentry work until he gets a little saved, then stops working until his savings are gone, then back to work. No doubt that I'll be taking care of him later on in his life, when I'm gone then I don't know what he'll do.

Savings accounts pay next to nothing, CDs the same way, current 401K is almost nothing more than a large savings account (since I've retired, most of the funds have been moved to 'safe' accounts)

Thankfully, I do own some properties, so I think my best bet is to just spend my time improving on the value of those for the future.

My wife is pretty much set, her own retirement accounts, good education, good job and like I tell her, when I'm gone she can have one h#ll of a yard sale getting rid of all my toys!

 

[texasjohn]

Over time, liquidate and use all assets then when nearing zero, go live with kids. No kids? Camp out in parks.

 

[dmccarty]

I feel for those people too Bob. For anyone getting close to your retirement age, you best not have a whole lot you can't afford to lose tied to the stock market. I'm amazed that people close to retirement or already retired who keep a large portion of their retirement income in stocks.

Pretty much a basic no-no, unless you can afford the risk that comes with it.

Way back in the late 80s or early 90s, I knew of a grandparent couple who had most of their investments in the stock market. They were not rich people by any means but they had worked hard AND SAVED as much as they could. There was one of the market crashes and the lost a bunch of money. Course, eventually the market returned and the loss was only a paper loss not actual but they took it hard mentally for awhile especially since they were managing the money of a family member who was mentally ill.

You needs SOME investments in the market to keep up with inflation. How much is a matter of how much risk one can handle both money wise and mentally. One rule of thumb I have seen is to subtract you age from 100 and that is the amount of investments that should be in the stock market...
If you are 30, the 100-30 = 70 so 70% of your investments should be in the market. If you are 60 then 40% should be in the market. One can tweek that numbers as the see fit. Personally at age 30 I have everything in the market. Twas not much but it was every thing.

Social Security should not be a primary retirement plan. IT should be a Rah Ruh Net to catch people when things go bad. It only takes one serious accident or illness to bankrupt a family. If SS is around when I retire, my assumption is that it will be only be enough to pay the health care premiums. I hope it will be that much....

Later,
Dan