U.S.Workers and retirement?

[Fly Rod]

If people can not save now....just think when Obamacare kicks in and your hours R cut from 40 to 29 hours....most that own property and have a mortgage will need a second job....will not be able to spend more time with family and could only enjoy skiing, boating and vacation until their charge card is exhausted.

The average pack of cigarrets cost 8-10 bucks per pack...take the 8 bucks a day x 7=56 bucks if U R a one pack a dayer x 52 weeks =$2,912...U have to be a rich person to smoke in the first place....and doubled if married and both smoke....stop smoking and start saving

[piemma]

Originally Posted by Fly Rod

I

The average pack of cigarrets cost 8-10 bucks per pack...take the 8 bucks a day x 7=56 bucks if U R a one pack a dayer x 52 weeks =$2,912...U have to be a rich person to smoke in the first place....and doubled if married and both smoke....stop smoking and start saving

We have a close friend who we have known for 25 years. She drives a 20 year old car that is beat to s#@*&, bald tires, etc, etc. Constantly complains about not having any money. Yup, you guessed it, her and her boyfriend both smoke a couple of packs a day. I don't get it.

[JackK]

I've been trying to max my 401K the past few years. I wasted a few years without contributing- catching up!!

It's fun to play around with the 401K calculators to see the potential in thirty-odd years.

Still need to diversify though- Roth IRA, some mutual funds, maybe some high-risk stocks. I need to speak to a financial adviser.

[Piscator]

Originally Posted by JackK

I've been trying to max my 401K the past few years. I wasted a few years without contributing- catching up!!

It's fun to play around with the 401K calculators to see the potential in thirty-odd years.

Still need to diversify though- Roth IRA, some mutual funds, maybe some high-risk stocks. I need to speak to a financial adviser.

Our government discriminates when it comes to the Roth IRA and many other things for that matter. They exclude people from participating at certain income levels.....
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[JackK]

If I ever make $114,000 a year, I'll probably be able to live without the Roth!

[Piscator]

Originally Posted by JackK

If I ever make $114,000 a year, I'll probably be able to live without the Roth!

The government thinks so as well
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[Jimbo]

This has been a very informative thread so far and made me get off my butt and take a serious look at what if I'm doing the best I can with my retirement savings. I've been with the same company 30 years and started 30 years ago slowly each year increasing the deduction from my paycheck. I just initially picked what co-workers agreed to invest in, and not risky, and let it ride. The problem I'm having is, at 56, after 30 years of dedicated service I think I'm being unceremoniously phased out. I'm scared I'm going to be forced to break the one most important rule about retirement savings I've learned, and that's under no circumstances touch that money for any reason until you retire. My wife and I aren't extravagent in our spending so I'm just praying when the time comes I can find something for a few years just to keep the lights on. I've been thinking about it for a while, but I think a financial advisor is in my future, too, as some others have mentioned.