Are you "lucky"if you have a secure retirement?

rmk700 · Feb 22, 2015

I always try to tell young recruiting employee's to get on a retirement plan as soon as possible and it's like a small raise. They generally figure retirements to far out to worry about right now.

ovrszd · Feb 22, 2015

JDgreen227 said:
Well...out of 507 total replies there are at least 91.6% that deal at least in part with the topic so I respectfully disagree.

You actually counted and formulated that percentage??? Amazing. So in this reply what words exactly do I have to use to be "on topic"?? Just want to make sure I add one or more of those words with each post to keep your ratings up....... So I don't screw it up,,,, "luck".

timswi · Feb 22, 2015

rmk700 said:
I always try to tell young recruiting employee's to get on a retirement plan as soon as possible and it's like a small raise. They generally figure retirements to far out to worry about right now.

Absolutely. I listened to4, and absorbed everything my dad told me and investing was a big one..Even when I wanted to spend my money on other things...

I recall talking to guys at work that were older than me and making much more than I was and them telling me that they "couldn't afford to" put money away...Now they are trying to plow away "make-up" contributions to compensate for youthful ignorance...

Glad I listened to Dad.

JDgreen227 · Feb 22, 2015

ovrszd said:
You actually counted and formulated that percentage??? Amazing. So in this reply what words exactly do I have to use to be "on topic"?? Just want to make sure I add one or more of those words with each post to keep your ratings up....... So I don't screw it up,,,, "luck".

Are you kidding? No, I didn't actually count and formulate that perentage....I just made a LUCKy guess....:laughing: Yes...amazing !!!

ultrarunner · Feb 22, 2015

rmk700 said:
I always try to tell young recruiting employee's to get on a retirement plan as soon as possible and it's like a small raise. They generally figure retirements to far out to worry about right now.

People at work are always coming to me and asking about the work plan... I tell them straight up that 9 years ago the company stopped any match and the choice of funds is iffy at best...

This past year the provider changed and the choices are better... still no match.

By far the single best thing I ever did was get into rental property at age 22... classic cars a distant second.

TomSeller · Feb 23, 2015

JDgreen227 said:
Are you kidding? No, I didn't actually count and formulate that perentage....I just made a LUCKy guess....:laughing: Yes...amazing !!!

Note to self: don't play poker with JDgreen

bf109v7 · Feb 23, 2015

300UGUY said:
Pics or it didn't happen???

I don't have many Pic of my Ex. But I think this 2 show what i ment. The first one is when we were about 24/25, the second at 55/56. And the last one is my new wife with me at 67 and her with 43.
Abd I don't think this is to much off topic. because you have to hav the right partner to have a secure retirement. Without my new wife I would have very, very little now. Or would be still working something to have an income. Alex

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Egon · Feb 23, 2015

People say investing is good advice?.

Remember Bre-X!

Parkanzky · Feb 23, 2015

Egon said:
People say investing is good advice?.

Remember Bre-X!

Or Enron or any one of thousands of failed companies. I've lost almost all of my investment in a few companies over the years, but I've never had nearly all my money in one company and my overall returns have been excellent.

Buy a good selection of low-fee mutual or exchange traded funds. Add a few stocks for individual companies when you think you see an opportunity.

Right now, interest is about 1/3 inflation, so piling all of your money into a savings account will guarantee that you lose buying power over time.

check · Feb 23, 2015

ultrarunner said:
People at work are always coming to me and asking about the work plan... I tell them straight up that 9 years ago the company stopped any match and the choice of funds is iffy at best... This past year the provider changed and the choices are better... still no match. By far the single best thing I ever did was get into rental property at age 22... classic cars a distant second.

Yup. Real Estate. Worked for me!

ovrszd · Feb 23, 2015

TomSeller said:
Note to self: don't play poker with JDgreen

I think he really counted but now is embarrassed that he did....

"luck"

KennyG · Feb 23, 2015

JDgreen227 said:
Are you kidding? No, I didn't actually count and formulate that perentage....I just made a LUCKy guess....:laughing: Yes...amazing !!!

86% of all the statistics on the internet are just made up.

riptides · Feb 23, 2015

KennyG said:
86% of all the statistics on the internet are just made up.

There are lies, d*** lies, then statistics....

JDgreen227 · Feb 23, 2015

ovrszd said:
I think he really counted but now is embarrassed that he did.... "luck"

If it makes you feel better, I DIDN'T count....

jix · Feb 23, 2015

Wisdom is present in this thread...Now, how do you get your kids to read and heed.

That wisdom, and prospering, comes from:
1. Making good choices
2. Personal disciplne
3. Having good friendships..and valuing them highly.
4 Being willing to listen well.
5 Living simply
6 Working and doing.
7.Making every mistake a learning experience.
8 Thinking clearly
9 Never giving up
10 Sharing good fortune and Trusting
11 Being humble, forgiving, loving and considerate
12 Personal courage
13 Being dutiful to what you believe in.
14. Reading
15 Keeping friends close......
:thumbsup:
Jix

TomSeller · Feb 23, 2015

Parkanzky said:
Or Enron or any one of thousands of failed companies. I've lost almost all of my investment in a few companies over the years, but I've never had nearly all my money in one company and my overall returns have been excellent.

Buy a good selection of low-fee mutual or exchange traded funds. Add a few stocks for individual companies when you think you see an opportunity.

Right now, interest is about 1/3 inflation, so piling all of your money into a savings account will guarantee that you lose buying power over time.

Enron was more than just another company that failed. It was pure fraud and a disgrace. Connected at the highest levels in this country, it was a scandal. It reeked to high heaven in my book and I never invested in it but knew many that lost most of heir life savings.

CobyRupert · Feb 23, 2015

KennyG said:
86% of all the statistics on the internet are just made up.

:thumbsup: But to be more precise, 86.348% of internet statistics are made up.

300UGUY · Feb 23, 2015

TomSeller said:
Enron was more than just another company that failed. It was pure fraud and a disgrace. Connected at the highest levels in this country, it was a scandal. It reeked to high heaven in my book and I never invested in it but knew many that lost most of heir life savings.

The people who really got screwed were the folks who worked for companies bought out by Enron with their funny money. Their retirements got caught up in the bankruptcy, and they lost their jobs.

newbury · Feb 23, 2015

300UGUY said:
The people who really got screwed were the folks who worked for companies bought out by Enron with their funny money. Their retirements got caught up in the bankruptcy, and they lost their jobs.

And that's what this thread is about - retirement.

It is too late for me to worry about it for myself but how does one make plans to ensure their company does not fail them?

JDgreen227 · Feb 23, 2015

300UGUY said:
The people who really got screwed were the folks who worked for companies bought out by Enron with their funny money. Their retirements got caught up in the bankruptcy, and they lost their jobs.

A few months before the Enron scandal broke, I read in a business magazine (FORTUNE or one of it's ilk) that Enron was considered one of the best companies in America...I still had the magazine and took it to work and everyone who read the article commented on how well the scandal was rigged.