https://www.foxbusiness.com/personal...rement-savings
I wasn't surprised by the amount in the younger age groups but was very surprised at 50 to 59 and 60 to 69.
https://www.foxbusiness.com/personal...rement-savings
I wasn't surprised by the amount in the younger age groups but was very surprised at 50 to 59 and 60 to 69.
It does seem low but that excludes other assets such as homes and shares I suppose.
I got a tenner to my name
Well, clearly I am totally fcuked......
^^ I thought you were a member of a group I had previously thought mythical: people who make good money teaching via skype?
Don't feel bad Simon, I've got a feeling that medical bills will eat up a big chunk of what I did manage to accumulate. It's time to pay the piper. You've got better health practices going for you...
True. I also kept mine out of the "markets" as in stawks and had it in a MM for a big part of the time.
That's my group.
50-59: $174,100 ... yep about my 401 amount
But add my cash, shares (stocks) and other investments and that amounts increases substantially.
I aim to have circa $300/350k US in the 401k/Super when I call stumps.
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A telling factor is if the individual/couple have paid off their house ... many haven't
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As an aside, I've just opened Superannuation (401k) accounts for the kids.
They are 5yo.
If I deposit $1,000 AUD a year till they turn 18 (then nothing more) and the fund earns 7.5% for the life of the fund
they will have, at age 67 ... $737,484 AUD.
Not a bad return for $13,000 invested. The miracle of compounding interest
The reason for stopping @ 18 is that I'll suggest they start a second fund which they can contribute themselves.
I dumped into mine very early and continued to through out my life. You get used to living on that 10% or so less. I did take out a large sum to pay for my daughters college education but feel good as they do not have any tuition debt.
SKkin, you can reduce your risk by learning how to stirfry....
I wouldn't bet on Simon either, he's going to find that pumping testosterone into his 60's and walking around with a permanent hard-on will put undue strain on his ticker...that or dying of mortification when he wakes up hazy next to a ..... bloke
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