Do you have enough retirement savings?

mid 30s, am doing quite well in retirement savings, especially factoring in where I live and the COL

Mainly due to solid 401k and TSP contributions, but I got extremely ballsy w my Roth IRA a few years back putting in the full contribution first year, putting it all into Netflix. Netflix doubled in value, I sold, and then split all of those revenues into equal parts NVDA and ATVI.....NVDA was 30ish per share then, it's now 249. ATVI went from 27 to 79

It uh paid off quite well for me
edit: forgot I have a Pension too, that wasn't being counted
 
@Fox by the Sea I found all the legitimate Sherdog adults

<{RoseRun}>
hold me tenderly as they serenade us with their sweet songs of their Roth IRAs
caress my troubled brow as they regale us with tales of their home equity line of credit
 
MacDuffle said:
@Fox by the Sea I found all the legitimate Sherdog adults

<{RoseRun}>
hold me tenderly as they serenade us with their sweet songs of their Roth IRAs
caress my troubled brow as they regale us with tales of their home equity line of credit
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lol @ these numbers.
i had 6x my yearly salary in savings by the time i was 11.
 
boingyman said:
Nope, because if I had enough I would already be retired. Ok, getting back to reality for my age yes I do. Wife and I are definitely ahead of the pack, but compared to some hardcore savers (like some you see on boglehead), probably just average. Combined we put ~$30-40k/year ($11k of that is towards Roth IRA) towards retirement not including employer match for the past decade. Another ~$5k/year towards 529 college plans for the past 3 years. Wife has a pension. If I decide to switch from contractor to government employee I will have a pension too. We don't use a HDHP so we don't touch that route or investing. Ideally own 2 or more properties outright by retirement. Ideally continue to save fairly aggressive even when my kids hit college some day since the 529 probably won't be enough. Ideally live a long healthy life.

I can say this though, it's all about balance. You never know what can derail your life, which can happen in an instant. With that being said health is just as important as saving/preparing for retirement way in advanced. People downplay the importance of health and wellbeing, but that should be a top priority as quality of life when you do hit retirement is extremely important. So enjoy the ride too because shit happens.
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Good point in health. In particular in America where citizens pay about 4x what any other countries citizens pay.

Retire sick in the states you'd probably want 4x a healthy non America would want.
 
not yet.. i will have that whenever i plan to retire though.. it'll be a mix of 401k, IRA and real estate.. but that's a long way away
 
MacDuffle said:
as a 9 year old girl I can confidently say I have 18% APR
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threads like these are super depressing because they are populated either by total goofball flankers or by dronish energizer bunnies for which life is an achievement unlocked race.
 
Americans toss IRA comfortably while every euro's brain is trained to spot that acronym out of a line-up across the internet while picturing James Coburn in a dynamite vest
 
there is really no logic to NOT taking part of the 401k if the employer matches....unless you are literally living paycheck to paycheck and even then it's likely expenses that need to be cut.

It's free money, basically your investment is doubled if you do the full match rate. Even if you leave it in some can Retirement Date fund or bond fund w/ little to no growth, you're still doubling your investment. Shit, even if you pick a risky fund (or the market starts to recede) and it loses value, you still had double originally. So if you put in 50, they match 50, and then the total value drops to 80....you're still up 30.

Even if you live by the suggested 70/20/10 expense/debt/savings ratio, you'd still have 5-6% for savings and 4-5% for a matching 401k which is really 8-10%.....I mean why not?
 
Fox by the Sea said:
threads like these are super depressing because they are populated either by total goofball flankers or by dronish energizer bunnies for which life is an achievement unlocked race.
Click to expand...

hey man I'm trying to masturbate to this investment advice

michal001 said:
Depends. If house paid off and don’t drive much it’s doable. Most old people spend a lot less.

Each year you should save 10-20% take home in mixed investments. You should put 10% of that into something high risk high yield if it works.
Click to expand...
 
MacDuffle said:
Americans toss IRA comfortably while every euro's brain is trained to spot that acronym out of a line-up across the internet while picturing James Coburn in a dynamite vest
Click to expand...
Try to imagine how I ordered a Carbomb in Dublin...

I mean I didn't think I could literally ask for that, so I just asked for Jameson, Baileys, and Guinness separately and mixed them myself. Didn't want to be 'that guy'
 
I didn't save shit while working.
I also didn't put anything in deferred comp while working.
BUT I have a great pension and make $108K a year to NOT work anymore.
That also includes full medical coverage (but not dental).
The downside of course is that I'm old as fuck.
 
HunterSdVa29 said:
Try to imagine how I ordered a Carbomb in Dublin...

I mean I didn't think I could literally ask for that, so I just asked for Jameson, Baileys, and Guinness separately and mixed them myself. Didn't want to be 'that guy'
Click to expand...

good lord yes

spent one St Patrick's in Vermont a few years back and listened to kids demanding, retrieving and singing the praises of their Irish Car Bomb once every ten minutes
 
MacDuffle said:
good lord yes

spent one St Patrick's in Vermont a few years back and listened to kids demanding, retrieving and singing the praises of their Irish Car Bomb once every ten minutes
Click to expand...
I was at St Patricks in the Temple Bar area, shit was crazy
and I say that as an American that at the time lived in Germany which has legal public consumption of alcohol
 
My retirement plan is drinking myself to death on social security.
Maybe developing a heroin habit as well.
 
I get 50% match up to the max of 18500. Should be pretty set. I imagine I’ll be needing about 40k a year so I’ll need about a 1.5 mil to retire at 50.

I’ll be retired at 40 though so I need some more passive income.
 
I'm 31.

£12k in savings at the moment
25 years left on my mortgage
Government pension for every £1 I put in the government's putting in £2 so that's decent then I'll get state pension as well.

Id be lucky to be in my Dads position, he's just turned 60, working part time and got some decent pensions already paying out, £600k mortgage free house and £500k in stocks and savings.
 
I always wonder why some people think they can't afford to save. To me, that means they need to scale back their present lifestyles.

My partner and I (own all things jointly) have about 6.75x income put away in our mid-forties and I feel far behind in saving. I think the numbers in the first post are actually low if you want anything like the same income you enjoy prior to retirement.

I also think the savings curve is wrong. Like another poster earlier said, it is really damn hard to do the most saving in your 30s. That's when you likely have the most costs. When you are young, you can survive on ramen and a bicycle. When you are older, you might have paid off the house and any kids are grown. In the middle is rough even if you are disciplined.
 
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