reality check

[mamkotke]

I was reading about retirement planning. There were sample calculations of how much you should save, and to be on the safe side they assumed 30 years in retirement. I thought, 30 years in retirement? I haven't even lived 30 years yet! That put some perspective on things

Comments

[anonymous]

1) Zero!
2) Yes, $6,000
3) Yes, ~1500 in savings
4) No other debt.

[anonymous]

1) About how much do you earn a year?
$11,800

2) Do you have any retirement savings? If so, how much?
I barely have enough to live on, let alone save.

3) Do you have any other savings that you don't plan to spend within a year? If so, how much?
$500

4) Do you have any debt other than student loans or mortgage? If so, how much?
$2,000

[anonymous]

1) After taxes, about $12,000 this past year. This year it'll likely be more like $16,000.

2) I have a mutual fund with about $1200 in it, which I've been slowly adding to for 4 years. The market hasn't been too great lately, so it's barely earned any money.

3) $25.

4) I owe my family a total of about $4000 that I borrowed (for things like rent, airfare, and paying off existing student loans).

[anonymous]

1) -$40K (thank you, school loans)
2) No (considering that I am living off of loans right now, it wouldn't be very prudent)
3) No
4) No

[anonymous]

Actually, to revise #3, I do have about $30K in stock that I could liquidate if necessary, but I don't intend to.

[anonymous]

1. Earnings? Are you kidding? I am in medical school and spending like crazy on books and stuff
2. Savings? For retirement? Hypothetically, hopefully somewhere aroung 10,000 or more. Realistically, I am currently happy if I don't manage to deplete my parent's retirement savings by the end of the year.
3. No, absolutely none
4. None.