Retirement money may not be there for most Americans

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  • Owl Salt Lake City, UT
    May 14, 2013 10:30 a.m.

    Provident living comes through as a significant and reality-based factor. The parable of the wise v. foolish virgins is both spiritual and temporal advice. The safety net is to provide in situations beyond an individual's control, not for every unwise or reckless financial practice. Our government bails out AIG for their irresponsible behavior, but not we common citizens.

  • Z South Jordan, UT
    May 14, 2013 8:51 a.m.

    Speaking from experience, the problem I see most often is that most people ignore the issue of retirement, thinking that they will start planning for retirement 'later'. But the true power of a long-term savings plan like a 401(k) comes from starting early and saving consistently, even through down times. It takes discipline and the courage to ignore the nay-sayers. But then YOU are the one who will find yourself able to actually retire, take a few trips once in a while, and not live on dog food.

  • luv2organize Gainesville, VA
    May 14, 2013 8:48 a.m.

    "Whatever the reason, people are just not preparing for retirement."

    Maybe it's the $600 dollar car payments spread over 8 years that people foolishly set themselves up in.

    Maybe it's the mortgage that stretches them too far.

    Maybe it's the credit cards that they max out to the limit to get what they want now!

    It's usually not the bump in the road like a job loss or illness that thwarts retirement it is overall lack of planning and self control with finances.

  • Max Charlotte, NC
    May 14, 2013 8:41 a.m.

    It all comes down to the fact that people are spending too much and saving too little AND they are retiring far too young for today's life expectancies. This isn't rocket science. It is as simple as it comes, but it does require people to be responsible -- which is the heart of the problem. We have become an amazingly irresponsible people.

  • Silent Lurker Cottonwood Heights, UT
    May 14, 2013 8:06 a.m.

    Once again Sammyg is talking about something he knows little to nothing about. It's fine to have an opinion but his is usually negative unless it abot BYU sports. This article is about making plans and seeing them mature for retirement--it is not meant as the only answer to the retirement problem. It is written as a guide to help inspire readers to think about their retirement. I retired over ten years ago I am by no means wealthy but quite comfortable, I have considerably less income than I made while employed, and I pay less in tax now, and I still have some savings tucked away. I have no special skills that others do not have. So it is possible. If I can do it anyone can do it. Even Sammyg and washcommon.

  • baddog Cedar Rapids, IA
    May 14, 2013 6:43 a.m.

    My wife and I had a simple plan after we started over at age 50 and went to work for a large company: 10% to the Lord, 10% into savings and live reasonably on the rest.

    Today, as we look retirement directly in the eye, we owe only our house mortgage (~$40K) which will be paid off next month. Our vehicles are paid for. No credit card debt to speak of, a child's student loan paid off.

    The company I work for had a savings match. We took advantage of it. We aren't going to challenge Warren Buffet in this life, but we can live fine until we die, as far as we can see into the future.

    Sure we'll be taxed. Sure costs will rise. Sure we can whine about those things, but looking at where we started and where we are today, we think we can make it work.

  • Onion Daze Payson, UT
    May 13, 2013 5:28 p.m.

    Sammyg & washcomom need to drink more cool water and less vinegar.

    May 13, 2013 4:59 p.m.

    This is nothing new, in fact it is as old as time. Recall Aesop's fable of the Ant and the Grasshopper (~600 BC). People will just end up working until they die. I think that was the original retirement plan anyway (Gen 3:19).

  • washcomom Beaverton, OR
    May 13, 2013 4:31 p.m.

    Social Security is gone as far as my husband and I are concerned. We are trying to have some sort of retirement plan in place, but it is looking less likely more and more with all the confiscating of personal private funds happening. Gas prices are skyrocketing, Obamacare has reared the ugliness of putting the care plan onto the backs of the states more so than ever before, which means MORE taxes to be taken. Wages are not increasing and the economy is in the slowest climb ever.
    Yep. We are all losers in this game of life when it comes to savings for the future.

  • sammyg Springville, UT
    May 13, 2013 3:53 p.m.

    Really? Anyone surprised about the forthcoming nanny state?

    Yet another government 'sponsored' money grab fraught with risk and if you make it to the end of your 'rainbow' the government is there to take its 'fair share'.

    Why would anyone invest in a program to have their principal, company match and gains (if any) taxed at some future unknown tax rate which undoubtedly will be higher?

    Anyone on here believe they would actually retire in a lower tax bracket????