How much do you have saved up for retirement?

[Confused Democrat]

I'm just curious. Tell us your age age and how much you have saved up for retirement.

I'm 20 and have have about $3500 saved up for retirement so far. I've got $2500 in a 401(k) and another $1000 in a separate stock account. I'm also thinking about opening a Roth IRA this year with Fidelity or something and maxing that out.

[🦀🎂🦀🎂]

This thread will make me feel bad lol

[Mr. Reactionary]

I have an AK47. Those last generations if oiled.

[dead0man]

not enough!


I did do the social security calculator thing the other day.  If I make what I make now until retirement I'll do alright on SS alone....assuming I don't have any large bills.  Even retiring a little early.  That's assuming SS makes it until I retire and the Boomers don't destroy it.  So a few grand a month from SS, plus whatever's in my 401k and home equity...I should do alright....assuming I can keep my job for another 15 or so years.

[DavidB.]

Nothing (normal 23-year old). And while I've got 99 problems, this sure ain't one -- yet.

[MASHED POTATOES. VOTE!]

Nothing (normal Polish)

[Sprouts Farmers Market ✘]

I will not live to see retirement almost certainly.

[muon2]

In my early 30's I took advantage of a defined benefit retirement program offered through my employer. I paid 8% of my income every month for 28 years. The employer guaranteed that it would match and provide for any shortfall should the investment returns be too low, but I got no extra benefit if the returns were high. It cost a good part of my income for many years, but now I have a reasonable income stream going forward.

[Lexii, harbinger of chaos and sexual anarchy]

Nothing

[(Still) muted by Kalwejt until March 31]

Nothing (normal 23-year old). And while I've got 99 problems, this sure ain't one -- yet.

[Crumpets]

Nothing (normal 23-year old). And while I've got 99 problems, this sure ain't one -- yet.

[Blair]

Lol- I've got 2k of savings put aside from when I worked over the summer, and that my uncle saved for me as he doesn't have kids, but beyond that I've got nothing. (and know that any savings would be swept aside in the first 10 years of working/renting in London)

[Tender Branson]

For retirement ?

Don't know, but I currently have around 85.000$ in my bank and saving accounts.

[MASHED POTATOES. VOTE!]

Odds of me living past 65 are too small to bother

[President of the great nation of 🏳️‍⚧️]

Nothing (normal 15-year old). And while I've got 99 problems, this sure ain't one -- yet.

[HagridOfTheDeep]

[Ebowed]

Nothing, aside from a reasonable yet utterly insignificant* amount locked away in a government fund ("superannuation") which I very much doubt I will ever actually get to see.  (The gov't doesn't let you access it until you turn 65 - by that time, the money will have evaporated)

Besides, if the current political climate is anything to go by, the retirement age will probably be raised to "dig your own grave, worker" by the time I get there.

*I define this as a sum that would be helpful to have right now for living expenses, but completely useless as far as making investments or putting down a deposit on property would be concerned.

[Torie]

Well I'm 66, and I'm not living under a bridge. I always viewed my legal career as unstable, and while except for a couple of years (the early 90's in Socal were quite frightening for the professional class as real estate and the defense industry and so forth collapsed), nothing much ended up going wrong. The result is that I saved a lot of money so that when a financial tsunami hit, I would be on high ground, and well, real estate is a hobby of mine, and one thing led to another. 

One piece of advice I would give, that would apply to most folks in this situation, is that just because you are making a bunch of money now, does not mean that will continue unabated over the decades, and one should plan accordingly. We live in dynamic times. I was very lucky.

[Torie]

I'm just curious. Tell us your age age and how much you have saved up for retirement.

I'm 20 and have have about $3500 saved up for retirement so far. I've got $2500 in a 401(k) and another $1000 in a separate stock account. I'm also thinking about opening a Roth IRA this year with Fidelity or something and maxing that out.

Roth IRA's are great, particularly if you are young, and you should do what you can to take advantage of it, while eligible to do so. There are income limitations, so if you make too much money, you are not eligible.

[Coolface Sock #42069]

Negative $90,000, currently, though my wife and I are paying out about $2,000 a month to put that debt away so we can start saving up for retirement for real.

But we are 27 and 25, so we have some time.

[#TheShadowyAbyss]

literally $5.

[Confused Democrat]

For retirement ?

Don't know, but I currently have around 85.000$ in my bank and saving accounts.

That's pretty stupid. All that money is just losing value if leave it sitting in your bank account. Invest it.

[FEMA Camp Administrator]

Hah!