Do you have enough retirement savings?

My company matches the first 6% of your paycheck that you put in to 401k and I still havent put a dime.

They need to change the 401k rules because millennial dont stick around at 1 company for 6 years to get the full vestments
 
I hope none of you are counting property value in your calculation of 'savings' or net worth. Especially those in SoCal.
 
Grassshoppa said:
Why not? Home values here are going up about $80k per year.
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There is a reason the bankers we work with have specific language about calculating net worth and it's because they are LA based and know how at risk that portion of paper wealth is.
 
Secondly, when I retire I expect to just flip into a smaller nice home. I don't expect it to be that much cheaper than the house we'll down size from. Maybe that's too specific for my situation but unless you are in a high demand metropolitan area and plan on moving to bumble-fuck, Kansas -- how much net cash do you expect in retirement based on your home?
 
Krixes said:
The problem is most Americans think they've got to have the newest shit. Everyone has to have a new car or truck, a super nice house, the newest smart phone every-time it comes out etc... Don't get me started on these poor as people having multiple kids....
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First you get the rims, then you get the audio, THEN you get tha poozy (and 6 kids).
 
If I absolutely had to I am 100% sure I could live off what I have saved up for a very long time. I have enough but not enough to live like I would want to. So I guess I would realistically say no at this point. I am close but not there yet.
 
Grassshoppa said:
I save about $6,000 a month. Have about 2.5M in 401k, roth, and other financial matters. Own 6 rental properties and 1 primary home. All paid for in full. Put about 12% into 401k with a 5% match. I'm well under 50 and could retire today if I wanted, but just work to have something to do. I suppose you could say I'm the average Sherdogger. Only bench about 250 though.
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250?! What a loser you are.
 
34 and me and wife are doing ahead the curve at this point. Also have to count on your house being paid off and counting towards your net at the point of retirement / determining what lifestyle you want to keep.

20 percent of our paychecks go into retirement savings, 60 into joint savings / investment and 20 is our own (which I invest most of)

However how all of this will look in a post automation dominated workforce is a ??
 
Queen B said:
My company matches the first 6% of your paycheck that you put in to 401k and I still havent put a dime.

They need to change the 401k rules because millennial dont stick around at 1 company for 6 years to get the full vestments
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I don’t even think you start making a real difference in a company until about the 3 year mark. 5 year vestment is very generous.
 
gonads20 said:
I will have a enough when I reach retirement. But for me putting away 15 percent of my paycheck for retirement is sacred. Too many dickheads in the U.S. are like "I won't live to be that old" and guess what? These same dick heads live to 90 relying on other people to take care of them. These are also the same dick heads who drive nice cars while I ride around in my paid off Nissan Sentra.

I don't have kids yet but its also setting up my family tree for success. Money doesn't buy happiness but it does buy you options. When I die my kids and their families will be set up for success. They're not going to have to rely on student loans for the best education.
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It’s a good plan, IF the family and kids cooperate, I have seen many people work their entire lives, only to have a fucked up kid bring it all down..
 
no, I went too early, retired at 37, if I had waited a few extra years, I would've been sweet.
 
Lol nah. I've made a number of poor life decisions. Maybe all of the decisions?? I dunno. I will most likely die in abject poverty. Suck it debtors!
 
I'm 38 and have about double my salary, although I've had some salary acceleration the past couple years that probably outstripped my savings.

I sock away 4% in a traditional 401k and another 9% in a Roth 401k. Company matches 4%, and I've been around long enough to be eligible for pension (although it'll probably be worth very little). I've got 2 kids (4 and 7) so I also put a flat $50 in to a college fund for each kid every month. Wife dumps a little less in to her IRA, but she's also a public school teacher and will get a solid pension...supposed to be an average of last 3 years of salary after 38 years of teaching, but that'll probably change in the next 30 years.
 
therealdope said:
There is a reason the bankers we work with have specific language about calculating net worth and it's because they are LA based and know how at risk that portion of paper wealth is.
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Home values are overcooked again. Have we learned nothing?

There's a new development next to my neighborhood that's selling houses for 800-900k. I live in fucking Cincinnati, skyscrapers made of solid gold aren't worth that much here. Fuckery is about in the housing market again.
 
Strange King said:
Bro i can count on one hand how many healthy 70 year olds ive met
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Even better , sick and broke sounds phenomenal ! Buncha room temperature IQ'd fools up in here. The ability to plan for the future is one of the main things that sets us apart from shit flinging monkeys......what does that make you guys?
 
Queen B said:
My company matches the first 6% of your paycheck that you put in to 401k and I still havent put a dime.

They need to change the 401k rules because millennial dont stick around at 1 company for 6 years to get the full vestments
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Fantastic logic. You sure showed them.
 
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