How much do you have saved for retirement? (2013)

[Kodos]

Will be an anonymous poll, of course.

Retirement Savings by Age: How Do You Compare? - DailyFinance (http://www.dailyfinance.com/2012/11/14/retirement-savings-by-age-how-do-you-compare/)

[Subby]

That article makes me very sad for people.

[Lathum]

That article makes me very sad for people.

yeah. I just glanced through the numbers and it is pretty surprising. A lot of people are going to work until they die.

[JonInMiddleGA]

Not a damned dime at this point*, it vanished in order to survive in the first year or two of the downturn.

*wife stands to inherit a reasonable sum from a childless aunt & a childless uncle, so that's basically what passes for "retirement"

[Kodos]

That article makes me very sad for people.

Yep. I'm amazed at the number of my wife's friends and relatives who have saved *nothing* for retirement. I wasn't sure if that was the norm, which is why I went looking for an article like the one linked above.

[Kodos]

Also, I realize this poll is a bit worthless without being broken down by age group.

[path12]

Not enough. That whole "401K will have you a millionaire by retirement" pitch from 25 years ago hasn't panned out that way.

[DaddyTorgo]

I'm glad you found the article though - I had been looking for something like that. All of the financial advisors I talked to refused to give me that sort of breakdown to let me know if I was like "alright" or "wayyyyyy behind."

Nice to see where I stack up at least in general (although of course everyone's situation is unique).

[CleBrownsfan]

Regardless how much I'm saving for retirement I will work/own my business until the day I die... or someone buys me out for millions!!! ;)

[Kodos]

On the occasions where I have worked with people just entering the workforce, my advice has always been start socking it away immediately. You'll never miss the money if you sock it away from the start.

[MacroGuru]

Honestly, and one point in time I was set to retire by the time I was 55, then the dot bomb happened and I was unemployed for 2 years, lived off of retirement and savings and lost a lot of $$ in the market to where....I have squat. I am trying to rebuild slowly but going over a 3 year nasty divorce isn't allowing for it.

[Subby]

I want to work for the rest of my life. Just not here.

[Sublime 2]

I'm only 28, so God knows it could change quickly, but I'm happy to have about $50,000 in my 401k.

[Kodos]

It's easy to understand people who fell on hard times over the past decade and had to drain their savings to get by. But my wife's friends don't even seem interested in trying to save.

[CAsterling]

I want to work for the rest of my life. Just not here.

Ditto.

Noticed this in the article
"All the figures below apply only to women."
Not sure what difference it really makes, but seems like a chart for men and women would have been more useful.

[Kodos]

Huh. That is pretty weird. Didn't notice that.

[Fidatelo]

I'm not sure how to vote in this poll. I assume by the word 'individually' I shouldn't include my wifes savings or pension, however that seems odd because how much couples save individually is often a function of tax laws (and is mostly irrelevant anyways).

Also, if this doesn't include a subtraction of debt then it's also kind of meaningless. Someone who has $0 in savings but owns a $400k house without a mortgage is better off than someone who has $250k in savings but a $400k mortgage.

[Marc Vaughan]

yeah. I just glanced through the numbers and it is pretty surprising. A lot of people are going to work until they die.

You make that sound like a bad thing - I'm in a 'reasonable place' with regards to savings and suchlike ... but frankly I never want to retire, I'd be bored shitless, I enjoy my job and it keeps me busy why would I want to retire and sit around watching day-time TV ;)

[Kodos]

I'm not sure how to vote in this poll. I assume by the word 'individually' I shouldn't include my wifes savings or pension, however that seems odd because how much couples save individually is often a function of tax laws (and is mostly irrelevant anyways).



I chose individual because it reflects how you would be doing if you got divorced. I'm actually significantly better off if the wife sticks around. :)

[Draft Dodger]

I have a decent amount (+$100k) and I stress that I'm behind...and yet, seems like I'm well ahead of many.

which tells me this country is going to be in a LOT of trouble in 20 years

[lungs]

My 401K is my farm so I'm pretty sure I'm into six figures saved for retirement based on the value of the stock I own in our farm. Stock in a corporation (even one that I have controlling interest) can be kind of flimsy so I'm working on some land next. That will be my real 401K as it was for my grandfather and father before me.

[molson]

I'm required to put a % of my paycheck into a government pension every month, and then they'll pay me a fixed amount, adjusted annually for inflation, per month for the rest of my life when I retire, depending on how many years I put in, my average salary, and when I retire. Or at least, you know, I hope that's how it goes down. If I stay with this or other employers who are a part of this plan I should be good to go by the time I'm 60 or so, or maybe a little earlier if I manage to save a bunch on the side.

[jeff061]

I'm not as informed as I should be when it comes to what I should have and where I should be in 30 years. But I've been contributing a fair amount yearly since I was 20 and have been maxing out the last few years. I feel I'm doing well for my age.

[tarcone]

I'm required to put a % of my paycheck into a government pension every month, and then they'll pay me a fixed amount, adjusted annually for inflation, per month for the rest of my life when I retire, depending on how many years I put in, my average salary, and when I retire. Or at least, you know, I hope that's how it goes down. If I stay with this or other employers who are a part of this plan I should be good to go by the time I'm 60 or so, or maybe a little earlier if I manage to save a bunch on the side.

This is pretty much me.

[JeeberD]

Not nearly enough.

[Desnudo]

What's funny, or sad, is that no one ever includes social security in their calculations. I'll have really enjoyed throwing money into that black hole by the time I'm 60.

[jeff061]

SS. LOL.

[Scarecrow]

I'm required to put a % of my paycheck into a government pension every month, and then they'll pay me a fixed amount, adjusted annually for inflation, per month for the rest of my life when I retire, depending on how many years I put in, my average salary, and when I retire. Or at least, you know, I hope that's how it goes down. If I stay with this or other employers who are a part of this plan I should be good to go by the time I'm 60 or so, or maybe a little earlier if I manage to save a bunch on the side.

I'm in the same boat. I put in 4% of my salary into KPERS, and my employer puts in 8%. When I retire at 65, I'll have 30 years vested, which translates into me getting a paycheck at 50% of my final salary + paid health insurance for the rest of my life.

Add to that my wife's 401k (in conservative/balanced funds) currently at ~$150k, and my Father-In-Law's millions of $$$ in stocks (Coca-Cola & Colgate Palmolive), and our SS - I feel pretty secure.