Cutting expenses

[mrsrobinson]

I see those charts from time to time as well, usually some email sent to me, and I wonder what the heck does it really mean? There are too many variables in my opinion. Like eating a Whopper everyday...

I had a friend recently say if you don't have $2 million set aside for retirement you're in trouble. What does that mean? Rhetorical question.

 

[Stee6043]

I see those charts from time to time as well, usually some email sent to me, and I wonder what the heck does it really mean? There are too many variables in my opinion. Like eating a Whopper everyday...

I had a friend recently say if you don't have $2 million set aside for retirement you're in trouble. What does that mean? Rhetorical question.

Two things I take from those charts: 1.) On average we as a people are massively underfunding our retirements and 2.) The government isn't going to let all of those underfunded people die; as long as I'm saving a lot more than the average guy I should be fine, or better than fine

 

[Woody]

I see those charts from time to time as well, usually some email sent to me, and I wonder what the heck does it really mean? There are too many variables in my opinion. Like eating a Whopper everyday...

I had a friend recently say if you don't have $2 million set aside for retirement you're in trouble. What does that mean? Rhetorical question.

The question is, what does it mean to him? Who knows.

But how about you? It really isn't complicated. If I want to live out my life in retirement the same as when I worked. Yes there are some adjustments I can make to save a buck here and there but for the most part my retirement income has to to remain about the same as when working. All that needs to be done is figure out how to do that, a plan made sooner is better than later.

 

[Pirate Lady]

I had a friend recently say if you don't have $2 million set aside for retirement you're in trouble. What does that mean? Rhetorical question.

Possibly means if you have no ongoing income and all you will ever have is your savings, AND you expect to spend like a drunken sailor like you did when employed.
Now, if you have SSA, and a pension, and reduce expenses and retire with no debt like house payment or credit cards or big loans, AND have a decent savings give or take 300 to 500 K, then you dont need 2 mil. at least from my experience.

 

[mrsrobinson]

The question is, what does it mean to him? Who knows.

But how about you? It really isn't complicated. If I want to live out my life in retirement the same as when I worked. Yes there are some adjustments I can make to save a buck here and there but for the most part my retirement income has to to remain about the same as when working. All that needs to be done is figure out how to do that, a plan made sooner is better than later.

Agreed, but again, far too many variables in my opinion. All we can do in my opinion is plan and reduce the risks as much as possible, and not eat Whoppers everyday..

My finance guy tells me I'm fine, in fact recently said I'm more than fine based on the results of my Ameritrade portfolio, which I hadn't shared with him in a while. Still, who really knows.

I do get frustrated with folks who have the mindset that's what social security is for.