tag:blogger.com,1999:blog-4055690688282230469.post6674343491130881953..comments2024-03-28T03:58:48.788-07:00Comments on creative savv: Are you on track with your retirement savings?Lilihttp://www.blogger.com/profile/13292553654219380455noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-4055690688282230469.post-72169945145051218332013-06-21T06:04:43.354-07:002013-06-21T06:04:43.354-07:00Hi live and learn,
That's really great! It is ...Hi live and learn,<br />That's really great! It is nerve-wracking at times. I am sooo glad we were nowhere close to retirement in 2008/2009. I knew some folks who had already retired at that point, and it was devastating for their finances.Lilihttps://www.blogger.com/profile/13292553654219380455noreply@blogger.comtag:blogger.com,1999:blog-4055690688282230469.post-48137337782157107162013-06-21T04:03:15.865-07:002013-06-21T04:03:15.865-07:00I think we're on track for retirement, but you...I think we're on track for retirement, but you never know. A couple of times a year, we look at our investments and plans to see if they are where we want to be. Some years are good for return on investments and some are not. As we age, we have put them into less risky places. Live and Learnhttps://www.blogger.com/profile/13493777474885053903noreply@blogger.comtag:blogger.com,1999:blog-4055690688282230469.post-42242355045706089352013-06-20T13:00:27.565-07:002013-06-20T13:00:27.565-07:00Hi Jen,
You are doing so great! Awesome!
I'v...Hi Jen,<br />You are doing so great! Awesome!<br /><br />I've read the 11 X figures and also 12 X. Some of these figures are based on retiring before age 67. I'll still stick with an 8 times scenario for my husband and myself, retiring around age 67 or later. This amount will give us 85% of our pre-retirement earnings, according to Fidelity (here's an article http://www.cnbc.com/id/49031856 with Fidelity's assessment of how much to save).<br /><br />All of it is a gamble, though. And that's why it's better to have a plan B and C, which for some folks could include the sale of their large family home and downsizing to a small condo, and if even that isn't enough, then multi-generational housing (AKA moving in with the kids).<br />Lilihttps://www.blogger.com/profile/13292553654219380455noreply@blogger.comtag:blogger.com,1999:blog-4055690688282230469.post-82100135656843402992013-06-20T12:50:01.250-07:002013-06-20T12:50:01.250-07:00Hi!
Thanks for the advice concerning selling colle...Hi!<br />Thanks for the advice concerning selling collections. You're absolutely right. One can never tell if their treasures will indeed fetch a good price.<br />Thanks for your comments.Lilihttps://www.blogger.com/profile/13292553654219380455noreply@blogger.comtag:blogger.com,1999:blog-4055690688282230469.post-34242870481071882062013-06-20T12:48:24.140-07:002013-06-20T12:48:24.140-07:00Hi Jemma,
Retirement savings sure is one of those ...Hi Jemma,<br />Retirement savings sure is one of those less-fun things to think about. My husband and I have reached the point where we have to think about it seriously.<br />Thanks for commenting.Lilihttps://www.blogger.com/profile/13292553654219380455noreply@blogger.comtag:blogger.com,1999:blog-4055690688282230469.post-30106105843988443222013-06-20T12:26:53.544-07:002013-06-20T12:26:53.544-07:00We are on track! We are under age 45 with retirem...We are on track! We are under age 45 with retirement savings closer to age 55 . . . but it still doesn't seem like we're anywhere near done. I read recently that 11X final earnings might be recommended, and we have a ways to go to get to that.<br /><br />One thing that has helped us enormously in saving is not having any college loans. I hope that is a legacy that we can pass on to our daughter.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4055690688282230469.post-62331677011815496172013-06-20T10:00:04.195-07:002013-06-20T10:00:04.195-07:00My husband is a Financial Advisor. I showed him yo...My husband is a Financial Advisor. I showed him your article, and he said that, yes, those figures on how much to have held in savings or investments, per age group, are about right. His only reservation would be concerning adding in the value of a collection. He said that selling collections can be tricky, and that the market for your particular collection may not be strong when you need to sell. But the rest is spot on, in his opinion. Well done! And we both agree, far better to save too much, than to save too little. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4055690688282230469.post-45080784398171158352013-06-20T05:53:17.716-07:002013-06-20T05:53:17.716-07:00Lili,
Such a wise and sensible post-you are so rig...Lili,<br />Such a wise and sensible post-you are so right, that BIG salary may never come and there is no time like the present to prepare. <br />Thank you for sharing!<br />Have a perfectly great day-<br />JemmaJemma@athomewithjemmahttps://www.blogger.com/profile/01137225389791605398noreply@blogger.com