Don't miss what's happening in Kingwood
People on Kingwood.com are the first to know.
Go to top of page
Close
 
Close
Back

Americans Retirement Savings

Americans Retirement Savings

« Back
This discussion has been locked.
Message Menu
by: rocket Active Indicator LED Icon 3 OP 
~ 9 years ago   Mar 31, '14 12:56pm  
This is another good read on retirement savings and problems therein.  It's a bit long but a good read nonetheless.http://www.cbsnews.com/news/danger-zone-americas-retirement-system-is-breaking-down/ 4951
* Reactions disabled on political threads.
What are your thoughts? Log in or sign up to comment
Replies:
Message Menu
bubbleyes72 Active Indicator LED Icon 18
~ 9 years ago   Mar 31, '14 1:41pm  
Thank you @rocket, I love reading these kind of articles. 4951
* Reactions disabled on political threads.
Message Menu
Retired_Engineer Active Indicator LED Icon 13
~ 9 years ago   Mar 31, '14 1:58pm  
I don't understand how people can be so stupid that they don't plan for the future.  If you don't save for your future, enjoy your catfood.  Sorry if that sounds heartless, but it's what people deserve if they don't plan and save for their future. 4951
* Reactions disabled on political threads.
Message Menu
bubbleyes72 Active Indicator LED Icon 18
~ 9 years ago   Mar 31, '14 2:20pm  
Easier said than done, this article proves that there was one who did save, but when he lost his job and was out of one for over three years, he went through the 125k he had in his 401k and then the 40k he had in his savings. Sometimes things do come up that we have no control over. Now for those who never had any intentions on saving then I don't know what to say about them. But I personally know of  a few people who have hit hard times to where they had to do short sales on their homes to keep from filing a bankruptcy. One of my girlfriends who was single, she has since then rebounded but it scared her, I was scared for her too.
 
No matter how much we prepare things will come up. All the more reasons to have that JIC (Just In Case) funds account. 4951
* Reactions disabled on political threads.
Message Menu
Retired_Engineer Active Indicator LED Icon 13
~ 9 years ago   Mar 31, '14 2:33pm  
Easier said than done, this article proves that there was one who did save, but when he lost his job and was out of one for over three years, he went through the 125k he had in his 401k and then the 40k he had in his savings. Sometimes things do come up that we have no control over. Now for those who never had any intentions on saving then I don't know what to say about them. But I personally know of  a few people who have hit hard times to where they had to do short sales on their homes to keep from filing a bankruptcy. One of my girlfriends who was single, she has since then rebounded but it scared her, I was scared for her too.
 
No matter how much we prepare things will come up. All the more reasons to have that JIC (Just In Case) funds account.
 
@bubbleyes72:   I agree that things can happen that eat your savings that you have no control over.  But that article shows that the majority of Americans are NOT even trying to save. Most of my retirement funds are in a 401k.  If our economy and the banking/investment companies collapse, that "money" is gone.To help my two kids start their own JIC funds, I gave them each $5k.  My son is older and he has tripled his savings and is looking to buy a house.  This is my daughters first year of teaching, so she hasn't been able to save much yet.
4951
* Reactions disabled on political threads.
Message Menu
bubbleyes72 Active Indicator LED Icon 18
~ 9 years ago   Mar 31, '14 2:48pm  
When I say things can happen that are out of our control I am generalizing, not speaking off the article on this statement,  because it can happen to anyone of us that do save and put back. Just consider if a person is being pushed into early retirement due to health reasons as you have stated this being your case before, you on the other hand was able to save. But what about those who work for companies that don't offer a 401k? Or those that really don't make much to put back to begin with. Yes, I feel everyone should save something if it's no more than a 100.00 a month, something is better than nothing. JMO Emoticon 4951
* Reactions disabled on political threads.
Message Menu
rundmv Active Indicator LED Icon
~ 9 years ago   Mar 31, '14 3:07pm  
I don't understand how people can be so stupid that they don't plan for the future.  If you don't save for your future, enjoy your catfood.  Sorry if that sounds heartless, but it's what people deserve if they don't plan and save for their future.
 
@Retired_Engineer: because the government has conditioned them to believe someone else will take care of their every need.
 
4951
* Reactions disabled on political threads.
Message Menu
Retired_Engineer Active Indicator LED Icon 13
~ 9 years ago   Mar 31, '14 3:10pm  
When I say things can happen that are out of our control I am generalizing, not speaking off the article on this statement,  because it can happen to anyone of us that do save at put back. Just consider if a person is being pushed into early retirement due to health reasons as you have stated this being your case before, you on the other hand was able to save. But what about those who work for companies that don't offer a 401k? Or those that really don't make much to put back to begin with. Yes, I feel everyone should save something if it's no more than a 100.00 a month, something is better than nothing. JMO Emoticon
 
@bubbleyes72:   I definitely agree.  $100/month may not sound like much, but over the years it adds up.  Now, if only interest rates on savings accounts would go up, the compounding affect would help!
4951
* Reactions disabled on political threads.
Message Menu
Retired_Engineer Active Indicator LED Icon 13
~ 9 years ago   Mar 31, '14 3:12pm  

- - - - - - - -
>> I don't understand how people can be so stupid that they don't plan for the future.  If you don't save for your future, enjoy your catfood.  Sorry if that sounds heartless, but it's what people deserve if they don't plan and save for their future.
 
@Retired_Engineer: because the government has conditioned them to believe someone else will take care of their every need.
 
 
@rundmv:  Quite true.  Unfortunately, the young and those of us that DID save will end up paying more taxes to care for those that didn't save.I also think too many people succumb to instant gratification instead of saving for the future.
4951
* Reactions disabled on political threads.
Message Menu
rocket Active Indicator LED Icon 3 OP 
~ 9 years ago   Mar 31, '14 3:14pm  
When I say things can happen that are out of our control I am generalizing, not speaking off the article on this statement,  because it can happen to anyone of us that do save at put back. Just consider if a person is being pushed into early retirement due to health reasons as you have stated this being your case before, you on the other hand was able to save. But what about those who work for companies that don't offer a 401k? Or those that really don't make much to put back to begin with. Yes, I feel everyone should save something if it's no more than a 100.00 a month, something is better than nothing. JMO Emoticon
 
@bubbleyes72: Personally I think one of the reasons many people don't save for retirement is because they cannot envision themselves getting "old".  They believe there is plenty of time to put something away - later.  But time passes and the next thing they know they're looking at themselves in the mirror wondering how the hell did I get here?  Then it dawns on them they are no longer spring chickens.  In the meanwhile there's the mortgage, car payments, kids college tuition, possible parent issues and the disposable income they have become addicted to.  Basically we live in a youth obsessed culture.  So the very idea of retirement to a lot of people means one day they'll no longer be young.  It's an eventuality many don't want to face.
4951
* Reactions disabled on political threads.
Message Menu
TheTruthHurts Active Indicator LED Icon 12
~ 9 years ago   Mar 31, '14 3:26pm  
The other sad fact is our kids had it good. A standard of living that was comfortable. We saved for college so they won't have huge debt. The problem with that is now they have a rather unrealistic view of earning money and the true drudgery of doing so. Work, it ain't fun sometimes.
 
And things are much costlier now. If you have a health care crisis, it could send you into bankruptcy. One recent trip to the ER can cost thousands...it's expensive to have healthcare much more NOT have it.
 
World has changed. It's not cheap to live. 4951
* Reactions disabled on political threads.
Message Menu
bubbleyes72 Active Indicator LED Icon 18
~ 9 years ago   Mar 31, '14 3:36pm  

- - - - - - - -
>> I don't understand how people can be so stupid that they don't plan for the future.  If you don't save for your future, enjoy your catfood.  Sorry if that sounds heartless, but it's what people deserve if they don't plan and save for their future.
@Retired_Engineer: because the government has conditioned them to believe someone else will take care of their every need.
@rundmv: Only a fool would trust or sit around thinking/waiting on the government to provide/take care of them and their needs! I feel they should go without. A man don't work don't eat. To me it should be every man/woman for him/herself. Emoticon 4951
* Reactions disabled on political threads.
This discussion has been locked.
« Back to Main Page
Views: 2
# Replies: 11

Lampson Retirement Solutions




Kingwood Spaces Logo Steven Byers Attorney At Law & Mediator Logo Town Center Park Association Logo Crust Pizza Co. - Kingwood Docks Logo T & K Electric Logo Primrose School of Eagle Springs Logo Pet Ranch Inc. Logo J & M Construction & Remodeling Co. Logo Radiant Facials Skin & Body Spa Logo Texas Water & Ice Logo Caliber Auto Care Logo Northpark Animal Hospital Logo Kingwood Mulch & Stone - Supplier / Wholesaler Logo Huntington Learning Center Logo Madd Air-Heating and Cooling  Logo G & S Tire and Auto Logo PWR House Generators Logo CBD American Shaman Of Kingwood Logo Kingwood Pressure Washing, LLC  Logo J + A Pool Plastering Logo Home by Zia LLC Logo MiCo Environmental Solutions LLC ~ GENERATORS Logo Kingwood Pet Resort Logo Three B's Grill Logo Zero Gravity Jump Zone Logo Ricky Plumbing, LLC Logo Anytime Pest Elimination  Logo Old Humble Distilling Company Logo
Sponsor an ad Sponsor an Ad »