Americans aren't saving for retirement. Or maybe they can't?

[w¡n9Nµ7 §£@¥€r 123]

All other wives should be like us.

I got this indoor helicopter from Brookstone and haven't used it at all. I hear about it every single day.

[Calypso 464]

I got this indoor helicopter from Brookstone and haven't used it at all. I hear about it every single day.

Your wife is perfectly normal.

My husband likes saying, "We need to buy..."

It all starts there.

When I first arrived here, I saw his air purifier, air humidifier, and many other things I don't know the names. He barely uses them. When I first cleaned the ref, I listed all items that we still had enough and threw the ones that have expired no matter how plenty they are. I couldn't believe I had to get rid of so many dressings, sauces, spreads, pastes, etc. that were still almost full.

[chri'stina 190]

I got this indoor helicopter from Brookstone and haven't used it at all. I hear about it every single day.

My husband is incredibly cheap, I am the one who has to convince him to spend any $.

[natty bumppo 297]

My husband likes saying, "We need to buy..."

It all starts there.

When I first arrived here, I saw his air purifier, air humidifier, and many other things I don't know the names. He barely uses them. When I first cleaned the ref, I listed all items that we still had enough and threw the ones that have expired no matter how plenty they are. I couldn't believe I had to get rid of so many dressings, sauces, spreads, pastes, etc. that were still almost full.

we are the exact opposite. she says "we need to buy..."

i usually say we need to think about it for a while ... at least long enough so that her "need to buy" goes away and the decision is more rational.

Edited March 10, 2010 by Natty Bumppo

[Calypso 464]

we are the exact opposite. she says "we need to buy..."

i usually say we need to think about it for a while ... at least long enough so that her "need to buy" goes away and the decision is more rational.

Well, it depends on what she says you need to buy.

My husband bought our cat a mini-castle and a tent, among others.

[Texanadian 10]

The interesting thing about the middle class is that everybody considers themselves to be middle class. Rich is always somebody who makes more money than they do. If you make 30K a year, you think people making 75K a year are rich. If you make 75K, you think people making over 100K are rich. 100K people think they're middle class and that people making 150-200K are rich.

[CDAgirlMI 51]

IMO, the economy might be an issue as to why Americans aren't saving much, but I don't see many Americans the saving-type. Maybe its the people I know, haha.

Side note: The fact that Americans can write their mortgage off on their taxes isn't a good thing to me. It prolongs paying off their homes, which I don't think is financially smart.

[My Name Is Nobody 3]

Does this mean 43% of Americans are irresponsible?

Or does it mean that our economy is structurally unsound, in that it is failing to meet the needs of a large proportion of our population?

This is falls into line with the politics of the country and the way they look at life. So no surprise here.

About 40 % of the population lean to the Liberal side and 60% Conservative.

Libs dont make decisions for the future and most Conservs do.

Pretty straight forward

[w¡n9Nµ7 §£@¥€r 123]

This is falls into line with the politics of the country and the way they look at life. So no surprise here.

About 40 % of the population lean to the Liberal side and 60% Conservative.

Libs dont make decisions for the future and most Conservs do.

Pretty straight forward

i guess all those liberals who have significant retirement savings are figments of my imagination.

[Revenesque 2]

This is falls into line with the politics of the country and the way they look at life. So no surprise here.

About 40 % of the population lean to the Liberal side and 60% Conservative.

Libs dont make decisions for the future and most Conservs do.

Pretty straight forward

Just because one is a Liberal politically does not mean they are Liberal financially. I'm fiscally conservative but I'm definitely a Liberal.

[My Name Is Nobody 3]

i guess all those liberals who have significant retirement savings are figments of my imagination.

Pretty well

. I'm fiscally conservative but I'm definitely a Liberal.

This creature does not exist

Edited March 11, 2010 by My Name Is Nobody

[w¡n9Nµ7 §£@¥€r 123]

Pretty well

This is for you.

EheLN-MDzrA

[Dan J 277]

This is falls into line with the politics of the country and the way they look at life. So no surprise here.

About 40 % of the population lean to the Liberal side and 60% Conservative.

Libs dont make decisions for the future and most Conservs do.

Pretty straight forward

To bad that doesn't hold up. The recent financial crisis is proof of that. Republicans at the helm with very bad future decision making.

[My Name Is Nobody 3]

To bad that doesn't hold up. The recent financial crisis is proof of that. Republicans at the helm with very bad future decision making.

Read my lips Danny ..... I said conservative not republicans.

[Revenesque 2]

I was a financial planner/personal banker in my former career and am shocked (and yet not shocked) how many people don't plan financially. Too short-term in their thinking.

When I first met hubby, I was surprised he didn't have any retirement savings plan in place--not even regular contribution to social security via payroll! I thought that was mandatory like they have in Canada (Canadian Pension Plan). Anyways, I put an end to that and he now contributes about 10% of his pre-tax income to his employer-sponsored retirement plan. His employer matches his contribution...I think...120%. Pretty f*ckn GREAT--where else are you going to earn an automatice 120% rate of return? The best one can get from a well-balanced equities is something like 6%.

If you can get it through your employer, that's the best way IMO, and then supplement any gaps with IRAs, mutual funds, stocks, bonds, etc.

An observation: Rate of return in the US are SOOO much better than Canada--transaction fees eat up too much of your returns. Little wonder why Canadians lean conservative on their investments.

Gollum, I recommend 10% savings rate of your monthly pretax income--that should meet your retirement goals sufficiently. Ever wonder why churches demand a 10% tithe?--yah, Churches can get rich on that. That's the magic number: 10%.

As for the $75 cat fountain, I shelled US$600 for top-of-the-line automatic petfeeder. Yup, by my calculations, it works out to be cheaper over the long-run. Hurts up front, but #1) we save money by not having to hire a petsitter and kennel fees while we travel and #2) we get peace of mind that our kitties are fed a scheduled meal. I can't remember how much I paid for the cat fountain, but $75 sounds about right. I haven't got the kitty grass yet, but I'm thinking about it.

This creature does not exist

Hellooooo....I'm here and very much alive!

Edited March 11, 2010 by Revenesque