Reply to If your HHI is less than 100k

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My question to those of you making less than 100K - are you planning to live off anything but SS in retirement? I can't see how you can amass enough money to throw off retirement income.[/quote]

My company (where I have worked for 15 years) makes a 7.5% non-elective contribution to my 401k annually.  We also have considerable savings/investments from my spouse's former job before becoming a SAHP. So no, we're not relying on SS.[/quote]

We make $125k HHI. I have a retirement plan at work (401k) with employer matching, which I make full use of. DH and I also have about $300k in IRA accounts we rolled over years ago when leaving prior jobs. The funds took a beating during the last decade's recession, but they are coming back now. DH and I plan to work for at least another 15 years, so I'm hoping we accumulate more of a nest egg between now and then. Still in the process of putting kids through college at the moment, so we'll see.[/quote]

125k is not less than 100k so I am bored. I know you couldn't resist chiming in but zzzzzzzz. If it said 50k then I would be interested in your comments.

[b]And to the pp that asked, why do you assume that people plan to retire? If you can barely afford today, are you really thinking about 30 years from now when you may or may not be on this earth? That is why the pp I quoted is a bore, same old same old yadda yadda[/b]. [/quote]

Sorry, but I don't understand you. Are you saying that "poor" folk don't care about saving for retirement?[/quote]

I am saying that people with "pea" brains make huge assumptions when it comes to retirement. The first assumption being that most people plan to retire. Some people will work until they die, or come close to it.

Secondly, if you were truly poor, and 70k is not poor, retirement would probably not be a priority, depending on the cost of living where you live. If I am in a low cost area then maybe 20k is enough to live ok and think about retirement. If my HHI IS 30K and I live here, then no. My main concern would probably be eating and not getting evicted. Why give myself a heart attack worrying about both today and tomorrow? Your life would be miserable and nothing but working to panic.[/quote]

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