10 Retirement Statistics That Will Scare the ####### Out of You

[Janelle2002 3,865]

10 Retirement Statistics That Will Scare the ####### Out of You

Eric McWhinnie MORE

May 20, 2016

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Scary retirement statistics | Source: Dimension Films

Americas retirement crisis is the most gruesome wreck youll find on Main Street. New victims are discovered every day amid a financial bloodbath of too much debt, not enough savings, and stalled wages. We cant look away nor should we.

More than ever, you need to take an active role in preparing your future self for a time when youll want or need to retire. The company-pension airbag is officially deflated. In 1974, the original IRA was introduced after Congress passed the Employee Retirement Income Security Act. Four years later, the IRS added a little paragraph to the tax code that led to the first 401(k) being created in 1981. Today, IRA and 401(K) retirement accounts have replaced pensions, with one glaring downside: They are do-it-yourself retirement plans.

Edited May 20, 2016 by Janelle2002

[Janelle2002 3,865]

http://www.cheatsheet.com/money-career/10-retirement-statistics-will-scare-#######.html/?ref=YF&yptr=yahoo

1. Nothing saved for retirement

Your mama may have told you to be happy with what youve got, but that isnt much if were talking about retirement savings. A recent survey from GoBankingRates.com finds more than half of Americans have less than $10,000 saved for retirement, with one in three having nothing saved. The National Institute on Retirement Security estimates the nations retirement savings gap is between $6.8 and $14 trillion.

Exactly how much you need to save for retirement is an ongoing debate, but one thing is clear: Youll need more than nothing.

[Teddy B 17,252]

I've spent a lot of time researching retirement savings options for my wife and I and how much we need to put away each week in order to be comfortable well into our late 80's. We both just increased the amount of money we put into our 401k's and hope to increase it again within the next five years. Annuities appear to be a viable option for a steady flow of income during retirement. If one can opt to defer their social security payments a few years, that will also increase the amount you will receive in benefits every month. We're hoping and planning to retire at 65 or 66.

Edited May 20, 2016 by Teddy B

[Janelle2002 3,865]

I've spent a lot of time researching retirement savings options for my wife and I and how much we need to put away each week in order to be comfortable well into our late 80's. We both just increased the amount of money we put into our 401k's and hope to increase it again within the next five years. Annuities appear to be a viable option for a steady flow of income during retirement. If one can opt to defer their social security payments a few years, that will also increase the amount you will receive in benefits every month. We're hoping and planning to retire at 65 or 66.

If you work for state government it's an automatic they deduct a certain percentage for retirement every month. I did pretty good in Texas. At least I'm not in the number 1 group.

Edited May 20, 2016 by Janelle2002

[Teddy B 17,252]

If you work for state government it's an automatic they deduct a certain percentage for retirement every month. I did pretty good in Texas. At least I'm not in the number 1 group.

Based on everything I read about how ill prepared most people are for retirement I'm pretty happy where we stand at this point.

[Teddy B 17,252]

Here are a few helpful retirement links for anyone interested.

http://www.forbes.com/sites/mitchelltuchman/2014/01/22/best-investments-for-retirement-planning/#562b6af76489

http://www.marketriders.com/investing/retirement-savings-power-thinking-small/?utm_source=forbes&utm_term=2014-01-22-best-investments-for-retirement-planning/

These retirement calculators are a good tool.

http://www.bankrate.com/calculators/index-of-retirement-calculators.aspx?ec_id=m1031991&s_kwcid=AL!1325!10!3991452282!20544838568&ef_id=VZpoJgAABeynzk3J%3a20160420152331%3as

Edited May 20, 2016 by Teddy B

[elmcitymaven 9,712]

I'm on the Golddigger Retirement Plan, as a good CABA should.

Teddy, your CABA wife is just fooling you into thinking she's putting money away! That money is going on purses and Cheetos. She'll be relying on YOU in your dotage so chop chop!

[Boiler 45,478]

In Colorado the State retirement fund is solvent.

Assuming a real rate of return of 8%.

[Janelle2002 3,865]

Here are a few helpful retirement links for anyone interested.

http://www.forbes.com/sites/mitchelltuchman/2014/01/22/best-investments-for-retirement-planning/#562b6af76489

http://www.marketriders.com/investing/retirement-savings-power-thinking-small/?utm_source=forbes&utm_term=2014-01-22-best-investments-for-retirement-planning/

These retirement calculators are a good tool.

http://www.bankrate.com/calculators/index-of-retirement-calculators.aspx?ec_id=m1031991&s_kwcid=AL!1325!10!3991452282!20544838568&ef_id=VZpoJgAABeynzk3J%3a20160420152331%3as

Good read, however some of us newbies may not get social security benefits thanks to Bush.

http://www.politifact.com/truth-o-meter/statements/2015/aug/03/facebook-posts/did-george-w-bush-borrow-social-security-fund-war-/

"

Next time a Republican tells you that Social Security is broke, remind them that Pres. Bush borrowed $1.37 trillion of Social Security surplus revenue to pay for his tax cuts for the rich and his war in Iraq and never paid it back," reads one version of the meme, which appeared on the Facebook pages of Occupy Democrats and Americans Against the Republican Party."

[CarlosAndSveta 808]

Too late for retirement planning for me. I retired from the IRS on April 1st after working for over 41 years. Hopefully my civil service pension will be enough. If not, my wife will have to go to work.

[Janelle2002 3,865]

Too late for retirement planning for me. I retired from the IRS on April 1st after working for over 41 years. Hopefully my civil service pension will be enough. If not, my wife will have to go to work.

75-115 hrs a week or she's lazy ;-)

[OriZ 3,157]

http://www.hussmanfunds.com/wmc/wmc160523.htm

[The Nature Boy 7,659]

Good read, however some of us newbies may not get social security benefits thanks to Bush.

http://www.politifact.com/truth-o-meter/statements/2015/aug/03/facebook-posts/did-george-w-bush-borrow-social-security-fund-war-/

"

Next time a Republican tells you that Social Security is broke, remind them that Pres. Bush borrowed $1.37 trillion of Social Security surplus revenue to pay for his tax cuts for the rich and his war in Iraq and never paid it back," reads one version of the meme, which appeared on the Facebook pages of Occupy Democrats and Americans Against the Republican Party."

For old times sake

A. Bush's fault . can also be "conjure up any conservative in history that even remotely did anything similar to what is going on today. It makes it ok.

[The Nature Boy 7,659]

Here are a few helpful retirement links for anyone interested.

http://www.forbes.com/sites/mitchelltuchman/2014/01/22/best-investments-for-retirement-planning/#562b6af76489

http://www.marketriders.com/investing/retirement-savings-power-thinking-small/?utm_source=forbes&utm_term=2014-01-22-best-investments-for-retirement-planning/

These retirement calculators are a good tool.

http://www.bankrate.com/calculators/index-of-retirement-calculators.aspx?ec_id=m1031991&s_kwcid=AL!1325!10!3991452282!20544838568&ef_id=VZpoJgAABeynzk3J%3a20160420152331%3as

One thing I disagree with on the article. We have a 401k but no matching. I don't participate. I would much rather put my yearly contribution in an IRA that I can manage. Same net effect on taxes

[Expat1 971]

http://www.hussmanfunds.com/wmc/wmc160523.htm

Im cashing mine out, not taking an annuity