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texdav - as many others have said, no one can read your posts!
Are you on a phone or just that poor of a typer??? It hurts my head...
If it's a legitimate physical handicap, I apologize.
Thank you for saying this. I have pointed this out to texdav a million times, to no avail. Now I just ignore his posts. I honestly think some people should be banned (or at least have their posts deleted) because of poor spelling. I know I'll get flamed for saying that but I don't care.
A lot of what people call luck is mostly just the ability to make good (or bad) decisions consistently over time. Ever noticed how some people are always lucky or always unlucky financially?
Quote:
Originally Posted by Remote_Control
You guys really think you know what state the US economy will be in 25 years? Stick it in your mattress because they got the boomer's money and soon they'll be coming for yours!
Case in point, this post sounds like some bad luck happening.
I too have done everything "right" financially, but I fear it will not be enough. Not with interest rates being held at near zero simply to minimize federal debt interest;
If the extremely low interest rates of the past few years are the reasons you don't have enough, you have might want to reconsider whether you have done everything right financially.
Exactly They wouldn't let me rep you so here it is
Yup, needing additional reps just for Escort Rider is almost reason enough to create additional user accounts. I never have the reps available to keep up with the good words of ERider.
Yup, needing additional reps just for Escort Rider is almost reason enough to create additional user accounts. I never have the reps available to keep up with the good words of ERider.
Aw, shucks! (Blushing) I can give you the names of a few posters who would be glad to rebut your assertions! LOL
If the extremely low interest rates of the past few years are the reasons you don't have enough, you have might want to reconsider whether you have done everything right financially.
just being diversified in bonds the last decade produced amazing returns just because of the low rates. its usually those that shun all risk that are being hurt . they dont realize by hiding in cash they took the biggest risk of all.
nothing is without risk and some things like cash can be the silent killers. on the surface cash instruments look like they are protecting you from risk but actually its the asset class that has driven more retirements into the failed retirement graveyard then even 100% equities.
in fact 100% equities over a 30 year plus retirement period turned out to date to be the least riskiest as far as failures in retirement go .the big cushions built up when they are up more then cushions later on for those drops .
im not advocating retirees load up on 100% stock but unless you got a lot of money and only need to withdraw 2% or less in retirement, having cash instruments only can be a very risky game.
negative rates arent a new thing,they happened quite a few times through out our history and its not something only the fed is doing. negative rates are happening all over the world as country after country tries to deal with recession.
the fact is the fed did everything but send up helicopters and drop leaflets that said if you didnt at least move to bonds , annuities or other fixed income investments you will get nothing on your cash instruments.
those that took the advice did great. our portfilio right now is 97% various types of bond funds and is up around 9% this year.
we have seen an almost 6% average return over the last decade with 1/3 the volatility of the s&p 500 and those returns were just because of these low rates.
if stocks fall around 10% from here ill start to shift a portion to a growth and income model at that point. .
Last edited by mathjak107; 11-20-2012 at 03:17 AM..
If anyone just sits with a calculator and ask themselves how much they need to retire on, it's scary. I would say one needs at $1-1.5 million in cash/assets to retire at age 60-65 and live another 20-25 years. $1 million dollars over 25 years is $40k a year so we are not even talking about living lavishly here. And I'm assuming we cannot rely on the government here. Whatever benefits we get will be insignificant.
Sure some people can save this money but how many really can, especially the way the markets and the world has turned. Some people even retire abroad in Panama and Thailand because they can't afford it. My question is that are you saving for retirement and how do you plan on funding it?
Is it more difficult to retire? I would say yes in the general sense but I do not agree in the doomsday sense in this OP. In the end when things are rough out there there those that have lived a life of economic discipline and as other are out there complaining how bad it is they are OK at least.
To me part of the problem is the "I want it now" and "I want it fast" attitude. I see people around me wasting so much money in frivolous stuff. That in time will mean they will have less in the later part of their lives. There are people that even today in the midst of hard economic times are thriving. I am not refering to the rich everybody try to demonize. I am refering to average people that look for discounts, user coupons to buy stuff, look for the specials, use their gas wisely, stay within the budget they have planned, etc.
I have numerous examples of single moms that have saved and have put their kids through college with small hourly wages. How about the couple that earn small hourly wages but were disciplined and have their homes and put their kids through college also and have enough to retire?
You used the word lavishly. To me that is the problem with many people. They want to have a lavish life. Why not have a comfortable life where your necessary and most important things in life are there? My wife and I saved our money so when I retired from the Army we did not just depend on a retirement and VA check. Along the way we still had fun, travelled, etc. We found ways to have fun and enjoy life with our kids without depriving ourselves. It is a matter of attitude.
Not along agon John Stossel had a documentary of people in the middle of a recession readjusted their lives and still made it, they did not went to a corner and whine about life. They did not wait for the government to give them. They rolled their sleeves and found ways to make it and are doing good. I believe it is up to how hard someone wants to work and how much is willing to spend the time to make it when times are harder and prepare for old age. Take care.
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