http://www.wilmingtonstar.com/apps/pbcs.dll/article?AID=/200...
Interesting article in the paper today - brings up an interesting discussion.
Jist of it is that Online Retirement Calculators on the websites of some investment firms like Fidelity & Vanguard, overestimate how much you need to save so you invest more with them of course.
My first thought was, well, yeah, and they exaggerate how well their funds do all the time too - gotta be a wash, right?
Secondly, as stated in the article, with the push to get people in this country to save, the last thing we need is to tell people they are saving too much.
Thirdly, for the savers out there. We rather err on saving far too much. IT is really pretty impossible for us to figure out how much we need in retirement. Life happens. I think the closer we get the better idea we'll have. In the meantime, heck yes, we will aim in saving too much. Of course. I Can think of far worse things...
But overall an interesting point I guess.
The article also said Americans are not so bad off - they are saving and are prepared for retirement. Pffffft. On what world? LOL. I could argue that one until the cows come home, but whatever. My only real peeve with the article.
Overall, figured could spark some interesting discussion.
Interesting article in the paper today - brings up an interesting discussion.
Jist of it is that Online Retirement Calculators on the websites of some investment firms like Fidelity & Vanguard, overestimate how much you need to save so you invest more with them of course.
My first thought was, well, yeah, and they exaggerate how well their funds do all the time too - gotta be a wash, right?
Secondly, as stated in the article, with the push to get people in this country to save, the last thing we need is to tell people they are saving too much.
Thirdly, for the savers out there. We rather err on saving far too much. IT is really pretty impossible for us to figure out how much we need in retirement. Life happens. I think the closer we get the better idea we'll have. In the meantime, heck yes, we will aim in saving too much. Of course. I Can think of far worse things...
But overall an interesting point I guess.
The article also said Americans are not so bad off - they are saving and are prepared for retirement. Pffffft. On what world? LOL. I could argue that one until the cows come home, but whatever. My only real peeve with the article.
Overall, figured could spark some interesting discussion.
January 28th, 2007 at 05:04 am 1169960652
My take on it is that its a fine line - most people aren't saving enough, but their final target that they should save is so high that most won't bother saving anything. Better to lull them into saving something than saving nothing.
January 28th, 2007 at 05:08 am 1169960882
- Become seriously ill
- Become disabled
- Become a widow or widower
- Go through a devastating and financially draining divorce
- Get downsized or laid off because of age discrimination and end up taking a job as a greeter at Wal-Mart
- Etc
- Etc
[I hope my sarcasm is coming through loud & clear.]
January 28th, 2007 at 05:24 am 1169961892
1. Not saving ENOUGH
2. Not distributing savings appropriately (right now, it's finding the right balance between retirement savings and saving for a house down payment)
January 28th, 2007 at 05:52 am 1169963530
January 28th, 2007 at 12:43 pm 1169988231
The silence is deafening.
That's right, not too many.
Save On Sisters, Save On!
January 29th, 2007 at 03:40 pm 1170085201
And for the life of me, I will never understand it!
January 30th, 2007 at 05:57 pm 1170179853
Second they talked with "wealthy" retirees. What about the majority who didn't save? Who are living off of only SS? What happened to them? I think I'd rather have more than less and not have to eat cat food or depend on my children for money.