Is your 401k up to this standard?
- Thread starter Over70irregs
- Start date
Best President ever.
oldngray
nowhere special
Over70irregs
Well-Known Member
We won't have one left after he's done taken care of us
What'dyabringmetoday???
Banned
You mean Sean? Lol.
Babagounj
Strength through joy
I had to vote NO on this poll.
I retired some years ago because of medical issues.
My amount saved, without an employer match, was as I have read elsewhere at the level of what commercial airline pilot had.
I have since taken out around $200,000 for some toys.
But not all at once, must watch those medicare tax amounts. Medicare has a sliding scale about income that will raise what you pay monthly going forward. They look at your age 63 income to set your monthly amount for your first year ( 65 ).
Saving into a 401K was easy. Every raise given was an additional increase. Sure there were times when I lowered the amount, but looking back that was a big mistake.
I have calculated that when I begin taking RMD, required minimum distributions, my current amount will last until I'm 122.
( Don't worry gumby , I'll check out before then )
I retired some years ago because of medical issues.
My amount saved, without an employer match, was as I have read elsewhere at the level of what commercial airline pilot had.
I have since taken out around $200,000 for some toys.
But not all at once, must watch those medicare tax amounts. Medicare has a sliding scale about income that will raise what you pay monthly going forward. They look at your age 63 income to set your monthly amount for your first year ( 65 ).
Saving into a 401K was easy. Every raise given was an additional increase. Sure there were times when I lowered the amount, but looking back that was a big mistake.
I have calculated that when I begin taking RMD, required minimum distributions, my current amount will last until I'm 122.
( Don't worry gumby , I'll check out before then )
Red Headed Stranger
Well-Known Member
I don't doubt what you have posted but I would like to see how they arrived at their statistics.
Considering that the US population under the age of 18 as of the 2020 census was 22.1%, is the 33% figure based on working-age population or overall population? I remember reading a book called "How To Lie With Statistics" and now I look at every article with skepticism.
rod
Retired 23 years
Speak for yourself. I have that and 2 pensions and a military disability check and SS coming in every month. I can’t spend it fast enough.Remember those in the chart above don’t have pensions……
Babagounj
Strength through joy
I know a lot of those that never really saved for retirement.
They operated fishing boats, thinking that when the time came to quit, they could sell their business to finance their retirement.
But times have changes with fewer people willing to buy.
Several are in their high 70's and still working their boats.
They operated fishing boats, thinking that when the time came to quit, they could sell their business to finance their retirement.
But times have changes with fewer people willing to buy.
Several are in their high 70's and still working their boats.
Lineandinitial
Legio patria nostra
Over70irregs
Well-Known Member
Over70irregs
Well-Known Member
Thebrownblob
Well-Known Member
You’d be surprised how many there are.
Over70irregs
Well-Known Member
I could not imagine.
Thebrownblob
Well-Known Member
We got probably a dozen
Over70irregs
Well-Known Member
Feeders?
Darmark7
Retired 2020. Not my Problem Anymore!
You will own nothing and be happy! Why be concerned about saving anything? This is great!
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