Comments on: Average Retirement Savings–All Measurements Lead to the Same Conclusion

By: Jun

Jun — Sat, 23 Jan 2010 13:42:16 +0000

This Retirement Income Calculator surely help me overlook my income sooner when I retire. I will save it, I hate spending which led us to crisis.

By: Savings

Savings — Mon, 14 Dec 2009 10:29:29 +0000

I agree people have a very low net worth these days the emphasis seems to be to much on spending. The economic climate is not helping this with many people refinancing their mortgage, this is going to push the retirement age higher and could result in a crisis.

By: Jill

Jill — Mon, 09 Nov 2009 02:26:12 +0000

I didn’t even begin to start to save for retirement until about 3 years ago when ING offered to put $40.00 in an account if I opened one. I was 48 and now almost 51. I have managed with bascially scrimping to put away close to $20,000.00. I have gotten some refunds be it taxes, stimulus checks, on insurances etc that were larger chunks of money but most of it is a litlte by little. I opened up two other bank accounts and received $250.00 for that. I save $5,00 everyday and a $100.00 every month. I estimate my utilities bills and whatever I over estimate goes in the pot. I got $15.00 for doing a survey. Any extra unplanned money goes in the pot. Any work I do on a Saturday goes into retirement. A little at a time seems almost silly but I think it will matter when I retire. Of course I plan to work until 70, have my house close to being paid off as well as student loan etc. I’m suppose to get almost 1,600 on SSI which I could probably live off of if house and student loan paid. Any extra I save will supplement. So basically get creative on whereever you can save. It seems hopeless to start late with nothing but any amount helps. I would like to share ideas from others on how they may be saving for retirement.

By: Producing $2,500 of Monthly Income with a $100,000 Portfolio | Understanding The Stock Market

Sun, 23 Aug 2009 20:37:56 +0000

[...] average American has just $88,000 when they retire but we’re not talking about them - we are talking about the retirees we aspire to be - the [...]

By: Healthcare the clinker for retirement plans | Funny about Money

Healthcare the clinker for retirement plans | Funny about Money — Fri, 07 Aug 2009 15:01:57 +0000

[...] doesn’t it? Especially when you realize that studies show average Baby Boomer retirement savings range from $38,000 to $88,000, with a mean amount (in 2005, before the economic collapse!) of $49,944. That would put my savings, [...]

By: Dowdee Thomas

Dowdee Thomas — Fri, 10 Oct 2008 05:19:05 +0000

I question your stated estimates for post retirement income of 126%.
Most retirees spend less in retirement - Mortgage paid off, clothing and transportation costs have dropped, they no longer contribute to a 401(k)
lower tax bracket.

Most financial professionals estimate the average retiree can get by without much sacrifice on about 75% to 80% of their post retirement income.

That would significantly alter your required savings figures.