How many people actually retire?

[sclimb]

I'm reading articles and they suggest like $1.5 million minimum to retire. How the **** many people actually ever save up millions of dollars?

I don't plan on retiring, ever, I guess.

[BrahPlease]

When your 65+ can yoy collect social security and still work? If you cant thats the biggest scam on earth. Especially for people nowadays chit is so expensive.

[ErnieMccracken]

Relatively few srs. No pensions, garbage 401k's, skyrocketing cost of living, etc. We'll be on the Asian method soon. When you get too old to work, move back in with your kids until you die.

[Mudshovel]

I'll have a pension hopefully.

[nothingshocking]

I will be able to retire and pay for my kids college too.

[GabrielNovar]

once you retire you rottttt never retire.....always gotta do something


just not as often. Like only go into the office twice a week.

[Frank Drebin]

I will be able to retire and pay for my kids college too.

This. The opportunities I had over the last 15 years have been fantastic but I do worry about my kids. Really thinking about buying another rental home to hedge against inflation.

[MrQuint]

Figure out your yearly expenses, multiply by 25 and that's your goal to save. Lower your expenses and you'll need less.

[PisseninMisc]

Stop reading sob stories about plebs who can't retire and figure out your own situation. There was no real golden era in history, just a bunch of peasants suffering, including many of our own parents.

Here is the truth of this life: the powers that be will do what they need to do to stay on top. They will retire... chit they have ALREADY retired, while you're here talking about working your ass to the bone so you can get some rest in 40 years. At that point you might as well not retire at all.

Either make peace with the fact that you're one of the average people, find a stable job and keep your head down, or arm yourself with knowledge and go to war to win at life as early as you can. The middle road does not exist; it is a lie constructed and propagated to keep the peasants at bay. There is a reason they call it the American DREAM. Wake the fuk up.

[Godfrd824]

If you start with $1000 at 30 years old and save $1000 per month for 30 years, you'll have $1.3 million by your 60s.

[Frank Drebin]

Stop reading sob stories about plebs who can't retire and figure out your own situation. There was no real golden era in history, just a bunch of peasants suffering, including many of our own parents.

Here is the truth of this life: the powers that be will do what they need to do to stay on top. They will retire... chit they have ALREADY retired, while you're here talking about working your ass to the bone so you can get some rest in 40 years. At that point you might as well not retire at all.

Either make peace with the fact that you're one of the average people, find a stable job and keep your head down, or arm yourself with knowledge and go to war to win at life as early as you can. The middle road does not exist; it is a lie constructed and propagated to keep the peasants at bay. There is a reason they call it the American DREAM. Wake the fuk up.

pissening

[Layne205]

When you get too old to work, ask to move back in with your kids, but mysteriously fall down the stairs and die the same day.

FTFY. My parents better get peppered.

[ErnieMccracken]

If you start with $1000 at 30 years old and save $1000 per month for 30 years, you'll have $1.3 million by your 60s.

brb medical bills, school debt, house needs a roof, furnace broke down, utility bills increasing every time I turn around, family needs money, etc.

[katya422]

Relatively few srs. No pensions, garbage 401k's, skyrocketing cost of living, etc. We'll be on the Asian method soon. When you get too old to work, move back in with your kids until you die.

^^^
Check out this optimist assuming the kids ever move out of your house to start with.

[PisseninMisc]

brb medical bills, school debt, house needs a roof, furnace broke down, utility bills increasing every time I turn around, family needs money, etc.

lol brah let's not pretend like most of the peasants ITT have the income or discipline to set aside 500 a month let alone 1k. If you can work your way to that point in 2017 there is no reason why you cant do much better.

[wesleysh21]

My dad is 100% retired, doesn't do a single thing as a side hustle like he always said he would do. He's got a pension from a factory, back when a pension was a thing. When he dies, my mom will get that pension...theoretically. My mom is semi-retired. She simply can't put away the side hustles. My dad was scheduled for full retirement at one point, but he was so scared of what was next that he hung on for another 3 years. I think its funny because I LOVE months with an extra week, it means an extra paycheck, but my bills are based on months. But his retirement benefits are based on months, so any month with an extra week just means a week of extra expenses with the same pay.

Having tons of discussions with older co-workers and associates about retirement, I can definitely tell you one thing should be front and center in your mind. House, house, house, house, house. If you can set yourself up in a situation where your house is paid off, you have enough equity in your home to quickly trade down and have a paid off house, or any other scenerio you can think of where you are not paying a typical housing expense...that's going to be a game changer for most people. If you can eliminate a housing expense, retirement might not be that bad. If you still owe on the house, retirement might not happen for you.

[Layne205]

I think its funny because I LOVE months with an extra week, it means an extra paycheck, but my bills are based on months. But his retirement benefits are based on months, so any month with an extra week just means a week of extra expenses with the same pay.

You do realize that all months are within 3 days of being the same length, and all but one are within 1 day of being the same length?

[Theanine]

The "retirement" age is the government cucking you and designed to keep the hamsters on the wheel. Most people don't have many years left after retirement, no thavms Jeff.

You can semi-retire or completely retire in your 30's if you played your cards right, but it takes living in much more affordable countries at least part of the year. You can either work part-time or seasonally as well.

Really comes down to hustling and being able to live within your means.

[meenman83]

lol brah let's not pretend like most of the peasants ITT have the income or discipline to set aside 500 a month let alone 1k. If you can work your way to that point in 2017 there is no reason why you cant do much better.

I was taught this in the military, whenever I got promoted I learned to live at my prior ranks lifestyle and banked the promoted ranks pay into savings/IRA/Stocks for at least 2 years then splurged for a few months on furniture, pots/pans etc then resumed putting it away. 13 years later the short notice medical retirement didn't kick me financially as I was ready for it financially so to say until I got divorced then I got fuked.

[Frank Drebin]

You do realize that all months are within 3 days of being the same length, and all but one are within 1 day of being the same length?

if you get paid bi weekly there are 26 paycheques in a year, and if your bills are set up monthly that means 2 months out of the year you will have an extra paycheque.

[Frank Drebin]

I was taught this in the military, whenever I got promoted I learned to live at my prior ranks lifestyle and banked the promoted ranks pay into savings/IRA/Stocks for at least 2 years then splurged for a few months on furniture, pots/pans etc then resumed putting it away. 13 years later the short notice medical retirement didn't kick me financially as I was ready for it financially so to say until I got divorced then I got fuked.

Nothing beats splurging on pots and pans.

[Layne205]

if you get paid bi weekly there are 26 paycheques in a year, and if your bills are set up monthly that means 2 months out of the year you will have an extra paycheque.

Interesting. Thought he meant there were more daily expenses in a long month than a short one.

I spend money like a complete fool, and have never needed to know when my paycheck was arriving. I don't know what's wrong with people.

[goonsondeck]

stop spending money on shiet u dont need its the government cukin u srs

[martin545]

If you live in a modest house, drive a modest car, don't go out to eat, and don't go on vacations, you can save a ton of money and retire early. It's all about the savings rate and investing while you're young in 401k/IRA with index funds.

[Bentley41]

Its not about how much you make, its about how much you save when it comes to retirement. The reason you see physicians working until they are 70+ is because they tend to try live the typical "doctor lifestyle" which is of course driving a expensive car and leading a high consumption lifestyle. The people who are really able to retire early are those who are able to make money, and live a frugal lifestyle and invest it wisely. Not saying people typically buy into stocks that sky rocket quickly, but more like buying a stock and holding it for 20+ years while it grows slowly.

If youre really interested in retiring in a timely manner:

[yeshli2nuts]

Ive been putting 15% of my salary in my 401k while still saving quite a bit in my savings account for large purchases. See no reason why I wont retire around 60.

[PisseninMisc]

stop spending money on shiet u dont need its the government cukin u srs

If you live in a modest house, drive a modest car, don't go out to eat, and don't go on vacations, you can save a ton of money and retire early. It's all about the savings rate and investing while you're young in 401k/IRA with index funds.

Its not about how much you make, its about how much you save when it comes to retirement. The reason you see physicians working until they are 70+ is because they tend to try live the typical "doctor lifestyle" which is of course driving a expensive car and leading a high consumption lifestyle. The people who are really able to retire early are those who are able to make money, and live a frugal lifestyle and invest it wisely. Not saying people typically buy into stocks that sky rocket quickly, but more like buying a stock and holding it for 20+ years while it grows slowly.

If youre really interested in retiring in a timely manner:
[img]https://images.gr-assets.com/books/1348313018l/998.jpg[/img

Retirement ALONE can't be the goal either. You have to live your life, drive that car, fuk that hole, eat the best, go where you want when you're 30 to enjoy life. LOL at waiting till you're 55 to do all of the above.

The truth is you're cucked either way unless you can see beyond these games. What is the point of retirement anyway? How many of the professionals ITT know people who retired and then came back as consultants because they were bored at home?

Open your mind guys, look at the bigger picture.

[mcboo2]

Ive done a chit ton of research on this stuff cus for some reason ive always been interested in personal finance. Inb4 TLDR. What i see alot in the workplace (im very young compared to majority of people i work with) is the majority people were too intimidated by what funds to pick and just never started. I personally found once you get started it becomes alot easier and motivating to save more.

** If your not atleast taking advantage of your employee match go in tomorrow and start immediately, its literally a free 100% return.**

As for picking mutual funds, a great resource is morningstar.com. Sign up for their free trial and you can get comprehensive reviews for every fund in existence. Cancel after your review to avoid any fees. Ive had great sucess with most vanguard funds. They offer some of the lowest fee's in the industry and outperform 90% of all funds. Lower fees is unbelievably important when you consider the difference of a 1% increased fee over a 40 year period.

As for allocation of mutual funds you really have two options. You could do an all inclusive target date retirement fund and end it at that, or a blend of mutual funds. Taget date retirement funds will put you in total market index fund, as well as a mix of bonds. As you get closer to retirement they will reallocate your portfolio to less stocks and more bonds to mitigate risk.

I opted for a mix of mutual funds and am currently own these funds:

30% target date retirement vanguard 2060
30% international growth vanguard
30% fundamental growth pioneer
10% vanguard materials and index.

Ive done well since i began saving for retirement and am up 18% this year alone. Here are some resources if you want to learn from people much more knowledgeable than me on this stuff, just google:


madfientist
Doughrollermoney
Radical personal finance
Jlcollinns NH, particularily the stock series
Mr. Money moustache(shout out my co brah)
Morningstar
Motley Fool

Gl misc

[ErnieMccracken]

Its not about how much you make, its about how much you save when it comes to retirement.

This is the old way of thinking, which I used to preach. The times of changed, though. Spending 25% of your take home on a mortgage, having a year worth of living expenses, dumping 20% into the stock market with blind faith that it will grow, etc. just isn't realistic anymore for most people. The median home in my area is $800k and the median income is $55k. Do the math. The cost of living is too high, wall st is a fukkin scam, and job security is a joke. You are gone the second they find some peasant to do your job for $20 less.

The ONLY way out for most people is to dramatically increase income to the point where it outpaces the cost of living.

[dhawkeye1980]

I should be able to retire esp if soc security is still around (big IF i know) but i have very little debt other than mortgage and i make good money. I dont want to rot away either tho so i might stay part time w some easy gig.