Now that we plan for Retirement

designs

One of the big adjustments for many of us was growing older and realizing Retirement was a reality. How are you doing and what are you doing. Did you have a company or government retirement package or personal IRA or 401K. What advice would you give the 20 to 60 year olds coming to term with 'Life in this System'.

EntirelyPossible

401K, investements, bonds, CDs. A mix of agressive short term and stable growth long term.

TA DA!

Found Sheep

I take as much as I can aside for 401K and some stocks.... I had $0 when I left 4 years ago and it's a slow process. I figure by 90 I should be able to retire

biometrics

401K, investements, bonds, CDs. A mix of agressive short term and stable growth long term.

Sorry, but that investment strategy worked in the 1980s, but it won't work in 2012, or for the next 5+ years.

finally awake

I am supposedly earning a government pension - if i put in a full 35 years I am supposed to receive 60% of my final salary each year as long as I live. I am also supposed to receive health insurance until I die, and I am paying into Social Security. I am beginning to think that my pension is at risk due to the political climate in my state. I put money into the deferred compensation (401K) plan, but I wonder if it's truly safe from being raided by the politicians. I have some private investments, but not anywhere near enough to substitute for my government pension

pontoon

I lost $125,000 from my 401k in the '08 economic bust. It really was not earned money, my 401k was at about what I had put into it. Anyway, I took the rest of it out, paid the taxes on it and bought a (retirement) house. Now I have two homes, very little mortgage, when I sell one I should be OK, hoping the real estate market comes back. Just couldn't risk the Wall Street thieves getting the rest of it.

Phizzy

Strategy is not something I would advise on, apart from saying, for Chrissakes do SOMETHING !

I was a born in,but not a 100% "taken in" , so, in mid 1975, when it was all supposed to have ended about 3 month later, I started a small pension.

I wish that I had known that the WT was a total scam, and I would have made more of my opportunity to build up a pension.

Nobody will care for you in later life, MAKE PROVSION NOW !!!!

Disillusioned Lost-Lamb

Don't forget that when you are retirement planning you must also consider the cost of (gasp) aging.

Do you have enough insurance? Most people think they do, but they don't.

Do you have the right kinds of insurance? Depending on your age, give serious though to life and long-term care insurance. Most people think of retirement savings solely for living expenses, but nothing eats away at even large retirement funds faster than someone who is ill and needs round the clock/extra care.

Think about talking to a good reputable financial advisor. Yes it's hard to pay them some of that hard earned money but it’s their field expertise (not yours), and even if you don't "do business" with them they are a treasure trove of advanced financial information.

Other than that, SAVE YOUR ASS OFF. J

biometrics

@pontoon

Sorry to hear you lost so much in 08. Not trying to blow my own trumpet, but my pension plan nearly trippled from 2008 to 2010. I wouldn't say it was "Luck", but I had good timing on my side. I took all my superannuation money from the stock market about 3 months before the crash, then invested it in commodities.

designs

Some retirement plans allow us to self-direct investments rather than be stuck with a few choices in mutual funds. I saw that IRA funds can now be directed toward real estate, farms etc.. Diversification away from Stocks and Bonds. Anyone try these alternatives.

Now that we plan for Retirement

Share this