Comments on: News - Average Retirement Savings By Age

By: Dan

Dan — Thu, 18 Feb 2010 18:52:03 +0000

This is a no brainier folks! Saving money is not glamorous…it take dedication. In my opinion no single person should be in debt except for maybe student loans. I make 87K a year and I’m no happier than when I made 6K my first year out of college. We Americans spend spend spend, when it should be save save save. Peoples saving habits are generally an environmental problem…did the parents save and pass on good habits, or did they just drop the financial ball.

All one has to do is educate your self and read a book. Personal finances, investing, and mutual funds for dummies will give you all the info you need! But hell why do that…I have more important things to do like research that big screen TV I going to buy next week. People make there on beds…now they have to lay in it.

By: mark

mark — Mon, 08 Feb 2010 18:59:41 +0000

i am 63 ihave 6,25mm in cash and retirement funds,3mm in home equity,even now, and another 50mm in my business.why don’t i feel secure?probably because my business was worth about 150mm 2 years ago,my plan is to work until i’m 70 and then live hopefully another 20 years.i’ve never held a job,just invest my own money.didn’t have a dime when i was in high school,but have worked hard in various financial deals.everyone is stressed to the max right now,at least i am.tell me to relax and enjoy.thanks mark

By: cf

cf — Tue, 05 Jan 2010 08:43:43 +0000

In Australia we have a system like your (401k) which is called SUPERANNUATION and between 9% and 12% of our salary is deducted and placed into the Australian stock market. This compounds over time and when turning 65yrs old we can withdraw the whole amount tax free.

The average Australian will retire with between $500,000 and $1,000,000 of SUPER assets, which will compliment the national pension system.

By: Lucky

Lucky — Sat, 12 Dec 2009 11:05:55 +0000

Heya,

I’m 28 and have approximately $140,000 in savings, no debts, about $3k in shares, no property or any other investments.

Like Tom J said ‘the secret to happiness is wanting what you have’ and the great thing for me is everything I want and have in my experience right now is FREE.

I run 2 businesses from home, both in fields which I am PASSIONATE about, I have the FREEDOM to stop work whenever I wish and spend TIME with people I LOVE (girlfriend, friends, my dog). My body is in a state of perfect HEALTH, my mind is relaxed and my soul is always SMILING =)

My advice to everyone is use your money only for the things which are most important to you. Don’t waste it on meaningless material objects, you don’t NEED the latest toy your best friend has.

Save a good portion of your money and buy yourself peace of mind, freedom, time, health and happiness.

By: Harrison

Harrison — Thu, 19 Nov 2009 22:39:23 +0000

Hi? thanks for reply!

I think it is hard to find a calculator which can show you the accurate answer. There are many factors in future that might affect our economy and your retirement. May I know what is the meaning for your “comfortable retirement”?

By: RocketGirl

RocketGirl — Tue, 17 Nov 2009 17:18:37 +0000

Hey there,

I am 35, single and have no consumer debt. I have about 100k in RRSP’s and 45K in taxable accounts (thus far no room to move into tax sheltered accounts). I am equally frustrated as others that retirement calculators do not seem to indicate that this savings level and my future savings will equal the life I want to live in retirement. I am equally frustrated that a few years ago I had 100K but with the dip in the stock market I am just back there now, despite thousands of additional dollars that have been invested over the last few years.

I would love to see a calculator that would help me determine if the other things I am doing (3 rental property units, universal (investment based) life insurance and other items are going to bring me a comfortable retirement).

I find I am getting a bit compulsive in worry lately…I know I need to chill!

By: Tom j.

Tom j. — Tue, 22 Sep 2009 01:58:39 +0000

I am 33 and have about 100k in savings. I have no debt other than mortage. My wife and I have a 15 year mortage and are already 5 years into it. We also put about 30 k down when we bought our house so we have a lot of equity. I went back to school at 30 for a teaching degree and have not found a job yet, but I sub and do odd jobs. My wife works part time and raises our son. My wife is very organized and uses coupons to buy all the food and housewares we need. We our able to lead what I believe is a very happy stress free life because we are good with our money. I see many of my friends working themselves to death to make more money and all they seem to have is more clutter in their lives and in their houses. My friends make 3 to 4 times the money I do and still can’t save as much as I do. Spending money seems to be a losing cycle to me the more people make the more they spend and are they any happier or stress free?? I heard a saying one time and I try to live by it. ” The secret to happiness is not having what you want but wanting what you have.

By: Tom j.

Tom j. — Tue, 22 Sep 2009 01:42:18 +0000

By: Father Sez » Archive » My two elder girls’ net worth computations as at the end of 2008. Now it’s all up to them.

Wed, 28 Jan 2009 00:30:57 +0000

[...] these are the savings statistics for Americans when they reach retirement [...]

By: retiredebtfree01

retiredebtfree01 — Fri, 10 Oct 2008 08:43:53 +0000

Thank you for providing wonderful survey.After seeing this information most will try to invest their money in their younger age itself.

Retirement Plans, Retirement Savings, Retirement Investments,Retirement Income, Retirement Funds,Home based Business