Author Topic: The Average American Can't Save Enough to Retire!  (Read 2526 times)

ducky19

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The Average American Can't Save Enough to Retire!
« on: March 18, 2019, 09:58:22 AM »
I like to scroll through suggested news articles on my lunch break, and came across this gem.

https://www.forbes.com/sites/johnmauldin/2019/03/15/the-average-american-cant-save-enough-to-retire/#7aa4821f63de

Strangely enough, it was right above an article announcing LG's pricing and availability of the new model year's OLED smart TV's!

https://www.techhive.com/article/3367745/lg-announces-pricing-and-availability-of-its-2019-oled-smart-tv-lineup.html

I think I may have found the reason they can't save....

eljefe-speaks

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Re: The Average American Can't Save Enough to Retire!
« Reply #1 on: March 18, 2019, 02:53:21 PM »
Standout line:

"The simple fact of the matter is, it takes enormous discipline to save even 6% for your 401(k) at [$40,000 / yr]."

Really?

SpeedReader

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Re: The Average American Can't Save Enough to Retire!
« Reply #2 on: March 18, 2019, 10:40:07 PM »
It does seem to take more discipline than some people have, anyway.

nereo

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Re: The Average American Can't Save Enough to Retire!
« Reply #3 on: March 19, 2019, 05:24:10 AM »
Standout line:

"The simple fact of the matter is, it takes enormous discipline to save even 6% for your 401(k) at [$40,000 / yr]."

Really?
Gee - I wish someone had told me that when I was saving ~17% of my income and only earning $32k. Granted I didn't even have a 401(k) option at the time, but still managed to max out my IRA.

A Fella from Stella

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Re: The Average American Can't Save Enough to Retire!
« Reply #4 on: June 21, 2019, 02:47:02 PM »
Wish these sites would not be so fear-based.

One of my favorite articles out there is about a dad who got his 15 yo daughter set up with a roth.

https://wealthyjoeinvesting.com/2017/11/18/guest-post-is-15-too-young-by-chris-pascale/

This kid is going to be perfectly fine, and saving 6% isn't going to be a Herculean effort.

nereo

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Re: The Average American Can't Save Enough to Retire!
« Reply #5 on: June 21, 2019, 03:26:36 PM »
One of my favorite articles out there is about a dad who got his 15 yo daughter set up with a roth.

My dad did the same thing with me - one of the most  important financial things he ever did was teach me about compound interest and the importance of starting early.

jps

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Re: The Average American Can't Save Enough to Retire!
« Reply #6 on: June 21, 2019, 03:33:43 PM »
Standout line:

"The simple fact of the matter is, it takes enormous discipline to save even 6% for your 401(k) at [$40,000 / yr]."

Really?

"Oh my goodness, how could I possibly afford to save $100 per paycheck? Unthinkable!!! Oh, the horror!"

A Fella from Stella

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Re: The Average American Can't Save Enough to Retire!
« Reply #7 on: June 22, 2019, 06:21:12 PM »
One of my favorite articles out there is about a dad who got his 15 yo daughter set up with a roth.

My dad did the same thing with me - one of the most  important financial things he ever did was teach me about compound interest and the importance of starting early.

Your dad is a great man. You're very lucky.