Anonymous wrote:It's especially important if you don't have a pension. A good pension is the equivalent of having a million or two in the bank.

Anonymous wrote:It's especially important if you don't have a pension. A good pension is the equivalent of having a million or two in the bank.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are people here obsessed about saving for retirement?
I do save for the future but not aggressively. I do not max my 401k.
I am not concerned about retirement because I plan to work well into my 70s possibly 80s if still alive.

Retirement is for blue collar workers and poor people. These blue collar jobs are often unpleasant, they take a toll on the body and require a
physical fitness that workers no longer have as they age. It makes perfect sense to call it quit and retire.

White collar don't often face the same situation. They even get wiser and better with age. Why retire if you love what you are doing?

Most successful people I know are not thinking about retiring. You find a lot of old men and women at the top of the business, corporate and
political pyramid in our society. They are still working.

I know my perspective might be unique here. I'm a research scientist. Maybe I'm a crazy scientist?

I am also a research scientist. I enjoy what I do. The pace can be frantic at times. And I absolutely plan to retire. Why? Well, right now, the work I do -- the research -- is geared to what others want/need. It is very applied. I am taking my science and building algorithms that with work within the customers constraints. That is what I have to do to get paid. I would like to do some more basic research (6.1 or 6.2 instead of 6.4 in terms of DoD funding guidelines). But, I know I can not get paid what I am making to do that.

I am currently 55 and have just over 1 mil in my 401K. I am looking to work to at least when my child finishes college, in 6 years. I figure I should have closer to 2 mil; my house will be paid for and worth close to 800K. Sell it, move to an area where I can continue working (central Florida) at a lower level of effort (and lower salary) to cover expenses while transitioning to retirement. Full retirement will begin when Medicare is available.

You’ll have to be putting away at lest $75k/year (which is over the 401k limit) and hope for at least 6% per year to go from 1 million to 2 million in 6 years. Last year was great but I’m negative YTD so 6% is pretty optimistic

Historically, the market doubles about every 8 to 9 years. I am over a million now.

Economist here. I would say there is close to zero chance of the market doubling in the next 8 to 9 years...

Are you shorting since you are so sure?

Ugh, man... I am so tired of you and your "short" posts. You say the same thing EVERY.SINGLE.DAY.

Ugh, man... I am so tired of you and your "short" posts. You say the same thing EVERY.SINGLE.DAY.

Anonymous wrote:

Anonymous wrote:Not everyone puts wages into retirement. Some jobs come with automatic benefits as soon as your time is in. Law enforcement is one of these jobs, at least, it is in Virginia. You can retire at 50 with extra for hazardous duty pay or you can work longer and do a large plop along with the haz pay.

This is a huge problem that will have to be corrected. It was fine when lifespans were shorter; the taxpayers do not want to pay for retirement that, in many instances, is as long as or longer than the time public employees worked.

Anonymous wrote:Not everyone puts wages into retirement. Some jobs come with automatic benefits as soon as your time is in. Law enforcement is one of these jobs, at least, it is in Virginia. You can retire at 50 with extra for hazardous duty pay or you can work longer and do a large plop along with the haz pay.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are people here obsessed about saving for retirement?
I do save for the future but not aggressively. I do not max my 401k.
I am not concerned about retirement because I plan to work well into my 70s possibly 80s if still alive.

Retirement is for blue collar workers and poor people. These blue collar jobs are often unpleasant, they take a toll on the body and require a
physical fitness that workers no longer have as they age. It makes perfect sense to call it quit and retire.

White collar don't often face the same situation. They even get wiser and better with age. Why retire if you love what you are doing?

Most successful people I know are not thinking about retiring. You find a lot of old men and women at the top of the business, corporate and
political pyramid in our society. They are still working.

I know my perspective might be unique here. I'm a research scientist. Maybe I'm a crazy scientist?

I am also a research scientist. I enjoy what I do. The pace can be frantic at times. And I absolutely plan to retire. Why? Well, right now, the work I do -- the research -- is geared to what others want/need. It is very applied. I am taking my science and building algorithms that with work within the customers constraints. That is what I have to do to get paid. I would like to do some more basic research (6.1 or 6.2 instead of 6.4 in terms of DoD funding guidelines). But, I know I can not get paid what I am making to do that.

I am currently 55 and have just over 1 mil in my 401K. I am looking to work to at least when my child finishes college, in 6 years. I figure I should have closer to 2 mil; my house will be paid for and worth close to 800K. Sell it, move to an area where I can continue working (central Florida) at a lower level of effort (and lower salary) to cover expenses while transitioning to retirement. Full retirement will begin when Medicare is available.

You’ll have to be putting away at lest $75k/year (which is over the 401k limit) and hope for at least 6% per year to go from 1 million to 2 million in 6 years. Last year was great but I’m negative YTD so 6% is pretty optimistic

Historically, the market doubles about every 8 to 9 years. I am over a million now.

Economist here. I would say there is close to zero chance of the market doubling in the next 8 to 9 years...

Are you shorting since you are so sure?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are people here obsessed about saving for retirement?
I do save for the future but not aggressively. I do not max my 401k.
I am not concerned about retirement because I plan to work well into my 70s possibly 80s if still alive.

Retirement is for blue collar workers and poor people. These blue collar jobs are often unpleasant, they take a toll on the body and require a
physical fitness that workers no longer have as they age. It makes perfect sense to call it quit and retire.

White collar don't often face the same situation. They even get wiser and better with age. Why retire if you love what you are doing?

Most successful people I know are not thinking about retiring. You find a lot of old men and women at the top of the business, corporate and
political pyramid in our society. They are still working.

I know my perspective might be unique here. I'm a research scientist. Maybe I'm a crazy scientist?

I am also a research scientist. I enjoy what I do. The pace can be frantic at times. And I absolutely plan to retire. Why? Well, right now, the work I do -- the research -- is geared to what others want/need. It is very applied. I am taking my science and building algorithms that with work within the customers constraints. That is what I have to do to get paid. I would like to do some more basic research (6.1 or 6.2 instead of 6.4 in terms of DoD funding guidelines). But, I know I can not get paid what I am making to do that.

I am currently 55 and have just over 1 mil in my 401K. I am looking to work to at least when my child finishes college, in 6 years. I figure I should have closer to 2 mil; my house will be paid for and worth close to 800K. Sell it, move to an area where I can continue working (central Florida) at a lower level of effort (and lower salary) to cover expenses while transitioning to retirement. Full retirement will begin when Medicare is available.

You’ll have to be putting away at lest $75k/year (which is over the 401k limit) and hope for at least 6% per year to go from 1 million to 2 million in 6 years. Last year was great but I’m negative YTD so 6% is pretty optimistic

Historically, the market doubles about every 8 to 9 years. I am over a million now.

Economist here. I would say there is close to zero chance of the market doubling in the next 8 to 9 years...

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are people here obsessed about saving for retirement?
I do save for the future but not aggressively. I do not max my 401k.
I am not concerned about retirement because I plan to work well into my 70s possibly 80s if still alive.

Retirement is for blue collar workers and poor people. These blue collar jobs are often unpleasant, they take a toll on the body and require a
physical fitness that workers no longer have as they age. It makes perfect sense to call it quit and retire.

White collar don't often face the same situation. They even get wiser and better with age. Why retire if you love what you are doing?

Most successful people I know are not thinking about retiring. You find a lot of old men and women at the top of the business, corporate and
political pyramid in our society. They are still working.

I know my perspective might be unique here. I'm a research scientist. Maybe I'm a crazy scientist?

I am also a research scientist. I enjoy what I do. The pace can be frantic at times. And I absolutely plan to retire. Why? Well, right now, the work I do -- the research -- is geared to what others want/need. It is very applied. I am taking my science and building algorithms that with work within the customers constraints. That is what I have to do to get paid. I would like to do some more basic research (6.1 or 6.2 instead of 6.4 in terms of DoD funding guidelines). But, I know I can not get paid what I am making to do that.

I am currently 55 and have just over 1 mil in my 401K. I am looking to work to at least when my child finishes college, in 6 years. I figure I should have closer to 2 mil; my house will be paid for and worth close to 800K. Sell it, move to an area where I can continue working (central Florida) at a lower level of effort (and lower salary) to cover expenses while transitioning to retirement. Full retirement will begin when Medicare is available.

You’ll have to be putting away at lest $75k/year (which is over the 401k limit) and hope for at least 6% per year to go from 1 million to 2 million in 6 years. Last year was great but I’m negative YTD so 6% is pretty optimistic

Historically, the market doubles about every 8 to 9 years. I am over a million now.

Economist here. I would say there is close to zero chance of the market doubling in the next 8 to 9 years...

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are people here obsessed about saving for retirement?
I do save for the future but not aggressively. I do not max my 401k.
I am not concerned about retirement because I plan to work well into my 70s possibly 80s if still alive.

Retirement is for blue collar workers and poor people. These blue collar jobs are often unpleasant, they take a toll on the body and require a
physical fitness that workers no longer have as they age. It makes perfect sense to call it quit and retire.

White collar don't often face the same situation. They even get wiser and better with age. Why retire if you love what you are doing?

Most successful people I know are not thinking about retiring. You find a lot of old men and women at the top of the business, corporate and
political pyramid in our society. They are still working.

I know my perspective might be unique here. I'm a research scientist. Maybe I'm a crazy scientist?

I am also a research scientist. I enjoy what I do. The pace can be frantic at times. And I absolutely plan to retire. Why? Well, right now, the work I do -- the research -- is geared to what others want/need. It is very applied. I am taking my science and building algorithms that with work within the customers constraints. That is what I have to do to get paid. I would like to do some more basic research (6.1 or 6.2 instead of 6.4 in terms of DoD funding guidelines). But, I know I can not get paid what I am making to do that.

I am currently 55 and have just over 1 mil in my 401K. I am looking to work to at least when my child finishes college, in 6 years. I figure I should have closer to 2 mil; my house will be paid for and worth close to 800K. Sell it, move to an area where I can continue working (central Florida) at a lower level of effort (and lower salary) to cover expenses while transitioning to retirement. Full retirement will begin when Medicare is available.

You’ll have to be putting away at lest $75k/year (which is over the 401k limit) and hope for at least 6% per year to go from 1 million to 2 million in 6 years. Last year was great but I’m negative YTD so 6% is pretty optimistic

Historically, the market doubles about every 8 to 9 years. I am over a million now.

Anonymous wrote:OP is at least partly right. The Economist recently ran a cover story about a worldwide savings glut - never in the history of the world have people saved as much as now. And all these savings create a hunt for yield, which is part of what has bid up housing markets in the rich world - think Sydney, London, SFO, Toronto, etc. This is sort of why interest rates are so low. Too much supply of capital has bottomed out the demand (interest). This is the systemic side of things.

At a personal level you also require far less money than you think. And if you are willing to work until 70 you are golden.

Anonymous wrote:Add me to the list of those pushed out within a month of my 50th birthday. I'll never get close to making that kind of money again.