tag:blogger.com,1999:blog-14245531.post117003445684223955..comments2023-11-18T01:21:55.631-05:00Comments on My Open Wallet: Are You Saving TOO MUCH for Retirement?Madame Xhttp://www.blogger.com/profile/11536189690094235926noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-14245531.post-1170687958491620232007-02-05T10:05:00.001-05:002007-02-05T10:05:00.001-05:00Most people might have saved too much previously b...Most people might have saved too much previously because they have something a 20 or 30 year old doesn't, a pension. Those are history and even some older people will have a lowered pension than they thought. <BR/><BR/>So how can you compare a 65 year old now collecting a pension and SS with a 25 year old who will have neither? That 25 year old better be saving a bundle more.Living Almost Largehttps://www.blogger.com/profile/06594523259748625997noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1170687948638687992007-02-05T10:05:00.000-05:002007-02-05T10:05:00.000-05:00Most people might have saved too much previously b...Most people might have saved too much previously because they have something a 20 or 30 year old doesn't, a pension. Those are history and even some older people will have a lowered pension than they thought. <BR/><BR/>So how can you compare a 65 year old now collecting a pension and SS with a 25 year old who will have neither? That 25 year old better be saving a bundle more.Living Almost Largehttps://www.blogger.com/profile/06594523259748625997noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1170214366275628042007-01-30T22:32:00.000-05:002007-01-30T22:32:00.000-05:00Savings too much? New retirement planning tools a...Savings too much? New retirement planning tools are revealing that 20th Century financial calculators may give a false sense of security. Most old-fashioned calculators use "straight line" modeling which assumes a fixed rate of return (6,7,8,9,10%?) over your retirement lifespan. Those who have been following the market over the past 10 years recognize that when investing in equities (which most should consider in order to not outlive their money) doesn't produce steady returns year after year. This nuance makes little relatively difference over time when saving for retirement. But, when selling shares to produce a retirement paycheck, this fact (variability of returns) can be the difference between leaving something to heirs and going broke in your 70s. An analysis model known as Monte Carlo analysis performs a series of trials, given an investor's investments to illustrate a best and worst case scenario.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1170124301305278192007-01-29T21:31:00.000-05:002007-01-29T21:31:00.000-05:00really depends on the peson and what they want out...really depends on the peson and what they want out of their lifeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1170120248390164372007-01-29T20:24:00.000-05:002007-01-29T20:24:00.000-05:00I think it depends on what people want when they b...I think it depends on what people want when they become retirees.Askazombiehousewifehttps://www.blogger.com/profile/00853261725678234242noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1170113641164551062007-01-29T18:34:00.000-05:002007-01-29T18:34:00.000-05:00It's hard to imagine being old and stressing over ...It's hard to imagine being old and stressing over having saved *too* much money. The future is always uncertain and it's better to have more than you need than not enough...<BR/><BR/>The article does make a good point though that the investment houses benefit when people follow their advice to save more.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1170093325743266752007-01-29T12:55:00.000-05:002007-01-29T12:55:00.000-05:00Figured I was on the right track and saving a comf...Figured I was on the right track and saving a comfortable amount and had the proper amount saved for someone in the not so late 30's. Now I'm facing a divorce and half of those savings are getting instantly wiped out. It's gonna take me years to get back to where I am now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1170090403571864462007-01-29T12:06:00.000-05:002007-01-29T12:06:00.000-05:00I noticed in the original article that they say yo...I noticed in the original article that they say you should save as much as the investment houses tell you if you're planning for end of life medical bills. I think that alone is reason enough to keep saving - old people tend not to die in skydiving accidents, they linger with chronic diseases. I don't want to make my family go into debt to pay for my care in a hospital, and I don't want them to pull the plug because I'm out of cash either!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-1170088455845157302007-01-29T11:34:00.000-05:002007-01-29T11:34:00.000-05:00"assume your situation is dire and that you need t..."assume your situation is dire and that you need to save every penny you possibly can, until at least sometime in your 30s. At that point you can take stock of your position and maybe make some adjustments to your strategy"<BR/><BR/>Well said. This is my thinking, exactly. Yes, I'm freaked out about saving enough. I feel that I should be saving more. But I figure if I'm hyper-diligent about it now and continue to ramp up my savings, at a certain point those calculators will stop saying "I hope you like catfood" and will start saying "where do you want your beach house to be located?" Okay, maybe they'll be somewhere in between those two extremes. :) Then I can take a deep breath and take that trip to Buenes Aires I've always wanted.<BR/><BR/>But I started saving for retirement at age 20. My partner started at age 38. So I guess it's going to be a concern for a while longer.Tiredbuthappyhttps://www.blogger.com/profile/17292908687495239545noreply@blogger.com