Falling Behind on Retirement

Discussion in 'Off-topic' started by Malum Prohibitum, Apr 12, 2007.

  1. Malum Prohibitum

    Malum Prohibitum Moderator Staff Member

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  2. pro2am

    pro2am New Member

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    Huh...must be a rhetorical question. But just in case, "Yes", they are that stupid.
     

  3. GeorgiaGlocker

    GeorgiaGlocker Romans 1:16

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    You want to know the worst thing about it? There's no cure for it. :shakehead:
     
  4. Malum Prohibitum

    Malum Prohibitum Moderator Staff Member

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    So, are people here planning for retirement?

    Or are we too shortsighted?
     
  5. USMC - Retired

    USMC - Retired New Member

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    You mean the one I'm getting now or the next one?

    In either case, yes....
     
  6. Tinkerhell

    Tinkerhell Active Member

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    I'm planning to be retired from my primary job at 55 or so and then fully retired somewhere after 60 or 65 depending on how things work out.

    I'm 36 now have a nice sum in my 401k already
    I have a lovely pension from that same company (assuming it's not bought out before I retire) which should net me either $60k a year if I wait till 65 or 1/2 that if I take it at 55. (guess which I plan to do...)
    and of course I'm going to get something like $14k a year from Social Security (that's right after hell frezes over of course...)

    My wife is considerably younger than me but she already has a few things set up also.

    I am definatley making my plans to get out of the job business. :D
     
  7. Doc Holliday

    Doc Holliday New Member

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    Well somwhere around age 55 I will be living off of the government's teat. No, not social security but teacher retirement which is pretty damn good. I also have some money tied up in investment, an IRA which I have contributed monthly to since I was 22. I joke that the IRA is my move to Florida, buy a Cadillac and a beachhouse fund. Now that I am 30, I want to start looking at mutual funds and other long term investments since I have some extra money to invest.
     
  8. Mike from Philly

    Mike from Philly New Member

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    Its called the Lottery. That is my retirement plan. $1/week and I'll be rich by 55.
     
  9. Tinkerhell

    Tinkerhell Active Member

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    #-o
     
  10. NetAdminWithGun

    NetAdminWithGun New Member

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    I'm just starting to build for my retirement, I have been trying like hell to make 1,000 to put into maxing out the roth IRA and the rest in mutual funds each month.
     
  11. Adam5

    Adam5 Atlanta Overwatch

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    I have an old fashioned pension plan at work. My wife and I both have 401k's, and we are starting IRA's this year.
     
  12. Malum Prohibitum

    Malum Prohibitum Moderator Staff Member

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    Roth IRA is $4,000 for you and 4,000 for the wife ($8,000) annually, unless this is an income phasing-out issue.

    There are catch up provisions permitting more if you are older.
     
  13. glockgirl

    glockgirl New Member

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    I really want to stay at UGA just for the retirement... if I stay I will retire at 50 and still have my parttime job at HR block which pays really well. Plus I can retire early on sick leave and stuff...

    of course I still have 25 years to go :)
     
  14. Macktee

    Macktee New Member

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    Being retired, let me tell you this...

    you can't save enough while you're working!


    Not "enough" as in enough to live on, but "enough" as in there's no such thing as having too much money!

    Save every cent you can. You'll not regret it!

    If you never believe anything I tell you, believe this.

    Start an IRA if you don't have one. The Roth IRA is great. If your company has a contributory retirement plan and you're not contributing you should have your ass kicked. Hard!

    Retirement age can come up pretty quickly. You need to be ready. I'm very lucky that I worked for Ford and have a pension, medical coverage and etc.

    If you don't have that going for you, SAVE!!!


    You'll be an old fart, or fartette, a lot sooner than you can possibly believe!
     
  15. peashooter

    peashooter New Member

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    Im like you Macktee I retired from UPS at 52 and i was just one of the lucky ones. Pension Insurance Etc. And i have never looked back. I don't even miss it.
     
  16. maddog

    maddog New Member

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    I'm already receiving 1st retirement and am working on second will have it when I am 56. :righton:
     
  17. Macktee

    Macktee New Member

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    You beat me by a few years. I was 55 the first time. Then Ford waved enough money under my nose to entice me back for almost three more years. Then I was dumb enough to go to work for a general contractor (money again!) for another year and a half.

    But then....... we moved to Atlanta to be near the grandkids, ended up six houses away from them, and the only work I've done since has been around the house!

    Doing absolutely nothing is my full-time occupation and I love it. Best "job" I've ever had! My only regret is I didn't start doing this immediately after high school........
     
  18. NetAdminWithGun

    NetAdminWithGun New Member

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    I am trying to retire at 45, how much a month do you guys think i need to do this? :)
     
  19. Malum Prohibitum

    Malum Prohibitum Moderator Staff Member

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    How much to save each month or how much will you need to spend each month in retirement?

    :?:
     
  20. NetAdminWithGun

    NetAdminWithGun New Member

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    10,000 a month?? holy crap, i'm screwed.

    Let me borrow some money.