retirement goes?
2006-10-06 05:47:53 · 10 answers · asked by horrorfan 3 in Business & Finance ➔ Other - Business & Finance
depends on the kind of retirement life you want to have. If you haven't started by 35, it would be hard to preserve your standard of living you'll reach by age 65. if you started younger, it would depend a lot on what you've invested, but you could have a very comfortable retirement. But really It also depends on how you invest and what you invest in.
My I'm 35, I started thinking about all of it when I was 30. so I bought a house, rented it out, bought another, rented it out. and so on. I don't expect to get much out of SS, or my 401K. I'm hoping things will continue to grow, and that either I can continue renting the homes and eventually pay them off (while taking nice taz deductions) and live off the rental income when I'm old or eventually sell them when they're worth 4 times what i originally paid for them in apprieciation.
You see there's many different plans, but the idea is to HAVE one, You won't get anywhere if you don't do anything. As the least, you can got to the bank and tell them you want a Roth IRA, and stick 5% or more in there from your pay. it will be beter than nothing, and it's only a nickle out of every dollar. 50 bucks out of every $1000. that you'd be saving. if you do that for 30 years you should have a sizable sum that will help you,especially if SS is ended by then.
Just do something, sitting there won't help.
2006-10-06 05:59:42 · answer #1 · answered by jeepguy_usa 3 · 0⤊ 0⤋
I'm going to say birth. With how things are going in this country and how everything is a "me" mentality I wouldn't count on any help when you are old and decrepit, not too mention I think they even pushed retirement back a few yrs because people are living sooooo much longer now that they must be in pretty good health until they are in their 70's.
2006-10-06 12:51:19 · answer #2 · answered by God spelled backwards 1 · 1⤊ 1⤋
55
2006-10-06 13:17:47 · answer #3 · answered by oldsoftee2001 6 · 0⤊ 0⤋
Im not saving **** i live love and laugh and im not about to save up 50000.00 to spend when i get old. I need my dam money now. When i get old i may have alzheimers or any dam thing my n o good son baby mama might put the panties on him and talk him into putting me in a nursing home. I have a problem with FICA taking miney already for **** i need now. I know its my Social Security but what if something happens to me i know you are about to say " your son would then get " well let him get his own dam money. Now if something happens to him and i FICA done took all my dam money that i need NOW
2006-10-06 13:07:21 · answer #4 · answered by Luckys Charm 4 · 0⤊ 0⤋
I would say about 35 or 40
2006-10-06 12:49:48 · answer #5 · answered by Molly323 5 · 0⤊ 0⤋
THAT DEPENDS ON YOUR HEALTH AND HOW LONG YOU ARE WILLING TO WORK TOWARD GETTING SET UP FOR RETIRMENT. IF YOU GET A GOOD JOB AND REALLY TRY I THINK YOUI COULD START AT 50 AND STILL BE OK, YOU GONNA HAVE TO RERALLY SAVE AND INVEST A LOT IN A HURRY THOUGH INORDER TO DO IT THOUGH.
2006-10-06 12:52:29 · answer #6 · answered by roy40372 6 · 0⤊ 0⤋
I think I'll be alright and I just started at 40, with 10% of my salary going to 401k and modest market gains.
2006-10-06 12:50:54 · answer #7 · answered by onottopilot 4 · 0⤊ 0⤋
We're all pretty much screwed anyway
2006-10-06 12:50:28 · answer #8 · answered by Jenyfer C 5 · 1⤊ 0⤋
I GUESS 45
2006-10-06 12:50:59 · answer #9 · answered by jay j 4 · 0⤊ 0⤋
30. just a guess...
2006-10-06 12:49:26 · answer #10 · answered by kermit 6 · 0⤊ 0⤋