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View Poll Results: Are you on track to retire?
No way! It's a global banker illuminati conspiracy I read about on infowars.com! 3 3.06%
We're just living paycheck to paycheck - I'll worry about that when the time comes. 14 14.29%
We've put away a little, but I doubt we're on track. 27 27.55%
My retirement plan involves a second career, "welcome to walmart!" 6 6.12%
Saving steadily here and believe we're on track to retire at 65. 27 27.55%
I'm looking at early retirement 15 15.31%
I built myself a small fortune early I'm just doing what I want now 4 4.08%
trust fund bro! 2 2.04%
Voters: 98. You may not vote on this poll

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Old 08-19-2012, 08:32 AM  
KC Jones KC Jones is offline
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How prepared are you for retirement?
So seeing oldandslow has made it to his retirement and having seen a few early retirements at work recently, I'm curious how many planeteers are on track for this? I'd really like to retire a little early or plan for a sabbatical before I fully retire. Not sure I'm on plan for that though...

What about you?

(poll questions coming, and if you've already retired pick the options that most closely follows your retirement planning)
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Old 08-19-2012, 10:06 AM   #31
lewdog lewdog is offline
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I just graduated (almost 27 years old) so I started my job by just putting 3% into a 401K. I also dropped 2k into a Roth IRA. I have other expenses to take care of, trying to build an emergency savings fund, but I figured that was a good place to start.
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Old 08-19-2012, 10:06 AM   #32
R8RFAN R8RFAN is offline
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Originally Posted by ThaVirus View Post
I've resigned to the fact that ill be middle class my entire life. I'm a pretty good saver but ya just never know.

I fear the day all of our money is worth nothing.
What is Middle Class? Everybody has a different definition.

Trust me, if money is ever worth nothing, we have way more things to worry about than retirement.

People would be killing for a loaf of bread
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Old 08-19-2012, 10:07 AM   #33
R8RFAN R8RFAN is offline
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Quote:
Originally Posted by lewdog View Post
I just graduated (almost 27 years old) so I started my job by just putting 3% into a 401K. I also dropped 2k into a Roth IRA. I have other expenses to take care of, trying to build an emergency savings fund, but I figured that was a good place to start.
Excellent place to start, just make sure you are putting the FULL amount that your employer will match... It's Free Money!
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Old 08-19-2012, 10:08 AM   #34
cdcox cdcox is offline
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I've been putting away 10% of my salary since I was 30. If I rely only on that and we get some decent return on investment, I will be in my late 60's before I can retire.

I've got two additional hole cards.

About a year and half ago I exercised some stock options that I received for serving on the board of advisers of a start up. The company is still growing and still attracting significant investment capital, though they have not yet earned any revenue. I figure that one investment ($1000) has the potential to out perform my entire retirement plan at work. It is still a long shot, but that investment has the potential to drastically alter my retirement plans.

And then there is Sandbox Simulations. Another long shot, but if we are able to capture even a small portion of the fantasy sports market, it will be a reliable source of income that can supplement whatever other retirement income I have.
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Old 08-19-2012, 10:11 AM   #35
TLO TLO is offline
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Originally Posted by R8ers View Post
To all you young people remember, even though you think you will never get old or die you will.

I am just a blue collar truck driver with a great company and I am living proof you don't have to be broke just because you don't have a brilliant mind or a big time college education.
I know I will be working for the State of Missouri. So I'm not exactly sure what they offer as far as matching pay, etc. But I will be sure to look into it.

What about investments? Are they basically like playing the lottery?
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Old 08-19-2012, 10:15 AM   #36
R8RFAN R8RFAN is offline
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Quote:
Originally Posted by Big Smoke View Post
I know I will be working for the State of Missouri. So I'm not exactly sure what they offer as far as matching pay, etc. But I will be sure to look into it.

What about investments? Are they basically like playing the lottery?
I think Single stocks are playing the lottery, I think solid mutual funds are good, look at Vangaurd https://personal.vanguard.com/us/home?fromPage=portal
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Old 08-19-2012, 10:18 AM   #37
Psyko Tek Psyko Tek is offline
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I will work till the day I die. & I'm fine with that.
I will work until 2 days after I die
my will says buy a keg of smithwick's and play irish punk, social d and springsteen at the wake
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Old 08-19-2012, 10:23 AM   #38
Rasputin Rasputin is offline
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It's been tough go for me these last few years. I'm not making it from pay check to pay check so I voted the top one lol. I've made some progress & the place I just got (cheap ass trailer house) it's nice enough just hope it holds up for the years to come. I think I am in a better managable situation now so I'm not at dires road anymore. The price of gas and food on the table is whats getting me the most now.

I have no money saved in a retirement plan but got on 401k with my job this year. I'm not really worried about retirement right now just want to see my kids graduate high school then evaluate what I want to do with the rest of my life I guess.

I've thought about becomming a hobo for a few months, ride the rails & go solo just for fun & get away from pressures of life. Then again I'm probley too chicken shit to do something like that lol.
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Old 08-19-2012, 10:24 AM   #39
R8RFAN R8RFAN is offline
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Quote:
Originally Posted by Big Smoke View Post
I know I will be working for the State of Missouri. So I'm not exactly sure what they offer as far as matching pay, etc. But I will be sure to look into it.

What about investments? Are they basically like playing the lottery?
When you are in a mutual fund say you are in 5 of them, Each of those funds represent like 50 or so companies and the amount you put in your 401 k per week is distributed equally among all funds so sometimes you buy partial shares if a stock...

The advantage is if one company in those funds tanks, you have 49 others to hold it up but also if one company does really well you are being dragged down by those 49 companies...

This is what I own in my particular funds (#of shares)
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Old 08-19-2012, 10:36 AM   #40
R8RFAN R8RFAN is offline
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Oh and the value of my 401k has doubled since may 2009
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Old 08-19-2012, 10:42 AM   #41
007 007 is offline
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VARSITY
Planning for 65 and maybe even earlier, but with this economy, probably 70.
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Old 08-19-2012, 10:44 AM   #42
R8RFAN R8RFAN is offline
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Originally Posted by Guru View Post
Planning for 65 and maybe even earlier, but with this economy, probably 70.
Yup I voted "Saving steadily here and believe we're on track to retire at 65."
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Old 08-19-2012, 11:12 AM   #43
KC Jones KC Jones is offline
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Originally Posted by R8ers View Post
Excellent place to start, just make sure you are putting the FULL amount that your employer will match... It's Free Money!
truth!!!

Even if your investments don't appreciate at all if your employer match is 50% that's a 50% return on investment! At a minimum you should be investing enough in any matching plan to maximize the match!
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Old 08-19-2012, 11:20 AM   #44
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Originally Posted by Big Smoke View Post
What exactly should I be doing at my age? I don't know much about saving for retirement.
Like everyone is saying, of course you should use the 401k and/or IRA accounts. The biggest thing you should do starting out is to educate yourself about what investing and saving for retirement really means. There are tons of books on this subject some good some not so good. I really enjoyed reading Robert Kiyosaki's books on investing philosophies. I'm sure there will be a few replies to this from those who disagree. I think the thing to take away from his books is not so much the details of what he has done, but the attitudes he describes toward investing and making money. Read a lot of different books and you'll start to find what works for you.
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Old 08-19-2012, 11:45 AM   #45
Dayze Dayze is offline
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Retirement...what's that? My retirement plan has been wiped out on two occasions the past ten yrs. I'm not going to worry about it. My luck I'll die the day after I retire anyway.
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