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Started By
Message
re: The typical U.S. worker has $955 saved for retirement, report finds
Posted on 2/7/26 at 7:15 am to RLDSC FAN
Posted on 2/7/26 at 7:15 am to RLDSC FAN
quote:
Saved for retirement
quote:
How much does the OT have in their bank accounts?
These are two different things. Are you asking bank account for retirement? Because my retirement Def is not at a bank.
But I’m mid 30s. Almost $200k between wife’s 401k, my SoloK, and our Roth IRs. Then 30k in savings in a money market. Then kid’s UTMAs is another $15k. She’s 6 so have a good bit of time there too. I only keep roughly $2000 in checking. Everything above gets moved and invested.
This post was edited on 2/7/26 at 8:31 am
1
Posted on 2/7/26 at 7:19 am to RunnersWorld
quote:
Dow is closing above 50,000 today.
I remember when DOW 10k was a big deal....
Posted on 2/7/26 at 7:39 am to Lonnie Utah
quote:
I remember when DOW 10k was a big deal....
My biggest regret is saving only 3% from 20 to 32. To make it worse I had it going into a savings account and not in the market.
Couldn’t imagine what I would have now if I had been paying attention those first 12 years.
Posted on 2/7/26 at 7:44 am to RLDSC FAN
I have $675k in retirement and hold about $70k in Money Market funds as checking/savings at 34.
People blow their wad too early in life and since they know they'll never retire they just stay on the hamster wheel of buying shite they don't need
People blow their wad too early in life and since they know they'll never retire they just stay on the hamster wheel of buying shite they don't need
Posted on 2/7/26 at 7:50 am to WaydownSouth
quote:
Risky move considering all the BS with PBMs
not when you help the state legislature pass a measure ensuring you get paid the cost of the med you are dispensing, while also negotiating a required service fee per dispense...
oh yeah, we did that too....
Posted on 2/7/26 at 8:18 am to KLSU
quote:
Still doesn’t answer my main question. What happens to the money the government FORCED me to contribute over the years?
Social security is a Ponzi scheme and it will persist in its current form until most boomers have passed on. Benefits will ultimately either be gutted or the age to receive them will go up, or both.
quote:
They can’t force you to pay into something and not compensate you back that money
Watch them.
Another issue no one seems to be discussing much is that the classic 60/40 portfolio in retirement is all but dead. You’ll need to take on more risk in retirement in the future due to the governments constant and ever increasing debasement of money. Bonds are dead. Own assets. It will be the only way to keep up.
Posted on 2/7/26 at 8:24 am to LSUtiger89
If you have a lot of cash in a checking account you’re very much doing it wrong.
Posted on 2/7/26 at 8:43 am to upgrayedd
quote:
2. I think in the next 15-20 years there is going to be a major push to place annual taxes on 401k’s
That's why I'm not bothering with Roth accounts. By the time I retire, they will most certainly be taxed on both ends. Congress won't be able to help themselves. And we'll all vote for them anyway.
Posted on 2/7/26 at 8:43 am to nealnan8
quote:
The average American has very little savings yet is living longer and spending more, frivolously.
Posted on 2/7/26 at 8:47 am to nealnan8
quote:
Added to this problem is that Social Security will be insolvent anywhere between 10-15 years, and you have a coming storm.
Social Security was supposed to be insolvent by 2030. Just like LA was supposed to be under water by then.
I don't support relying on daddy government to save you, and I plan like I won't have SS, but the likelyhood that it goes away entirely is low
Posted on 2/7/26 at 8:47 am to KLSU
quote:
They can’t force you to pay into something and not compensate you back that money.
Are you new to this country? They'll just wrap it up as changed to a "helping poor americans" tax, and make it retroactive.
And there's dick-all you can do about it. Forget about what you paid in to SS if you're not already retired or close to it. You'll never see it.
Too many Quality Learing Centers that need to be funded.
Posted on 2/7/26 at 8:48 am to Chucktown_Badger
quote:
you have a lot of cash in a checking account you’re very much doing it wrong.
I know people that keep like 50K In a checking account. It's crazy. At least throw it in a CD.
Posted on 2/7/26 at 8:50 am to RLDSC FAN
The cruise industry is destined to fail in the future since all the old timers won’t have any income to spend.
Posted on 2/7/26 at 8:51 am to upgrayedd
quote:
2. I think in the next 15-20 years there is going to be a major push to place annual taxes on 401k’s
I could see this instituted as a "holding fee" or similar to how the management companies typically charge 0.2-2% annual fees on your portfolio.
I could also see this causing a massive price crash, a flood of alternative investments, and a lot of money leaving the country that tries it. Average Joe stockholders might get screwed, but any real money (the majority of stockholders) would easily move their money outside of the US.
I don't see how you put it SOLELY on 401ks either. That's the very definition of middle class/upper middle class working dudes. You'd likely have to tax brokerage accounts for years for public sentiment to even consider the idea
Posted on 2/7/26 at 9:19 am to Bigdawgb
Eh.
40+ years ago companies offered pensions. In the 1980s they started shifting to 401ks because of reduced capital outlay by the companies. This shifted the burden of savings and risk to the employee, while letting companies cap costs and eliminate long-term liabilities. Now the push is toward Roth IRAs and Roth 401ks, shifting even more responsibility to individuals while also locking in tax revenue for the government today instead of later. And none of this even considers what's happened to social security.
The bottom line is the system is structured against the average person. The person without fiscal discipline. There's no wonder we're headed towards a place where most/many folks will never be able to retire.
40+ years ago companies offered pensions. In the 1980s they started shifting to 401ks because of reduced capital outlay by the companies. This shifted the burden of savings and risk to the employee, while letting companies cap costs and eliminate long-term liabilities. Now the push is toward Roth IRAs and Roth 401ks, shifting even more responsibility to individuals while also locking in tax revenue for the government today instead of later. And none of this even considers what's happened to social security.
The bottom line is the system is structured against the average person. The person without fiscal discipline. There's no wonder we're headed towards a place where most/many folks will never be able to retire.
Posted on 2/7/26 at 9:23 am to RLDSC FAN
quote:
The average American worker has less than $1,000 saved for retirement,
But they got a $1,200/month car payment and are heading to Disney World for Mardi Gras…
Posted on 2/7/26 at 9:26 am to LanierSpots
quote:
I have $10 a month direct deposited into mine every month. Stop being poor Captain
Spent all my money on cat food and putting in my lean to.
Posted on 2/7/26 at 9:29 am to Chucktown_Badger
quote:
I’ve been drinking but help me understand the point you’re trying to make
If Moe and Larry have $5 each, and Curly has $80, you would be wrong to say that the average Stooger has $5. The median Stooger has $5, but the average one has $30.
Elon Musk has $700 billion saved for retirement. If you divide that by the number of workers in America it comes to about $4,000. So i know that the average is more than that.
Note that I had quoted what I disagreed with. It wasn’t the thread title, which is sound.
Posted on 2/7/26 at 10:06 am to RLDSC FAN
This is why I eat a lot of crap food and drink heavily
Don’t have to stress about making it to retirement. I won’t make it that long
Don’t have to stress about making it to retirement. I won’t make it that long
Posted on 2/7/26 at 10:30 am to Chucktown_Badger
Back door Roth exists for high income
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