Are you planning on retirement ever?

[Bubstr]

I was watching PBS last night and they had a program dealing with retirement. They said that the 401k fees at just 2% or less can add up to $155,000 by the time you retire. Is this a good deal for someone that pays all the money and gets all the risks? I'm retired and My 401K didn't preform anywhere near what I thought it would. It didn't even preform half as good as my sisters Index fund.

http://www.kiplinger.com/article/saving/T001-C000-S002-the-high-cost-of-401-k-fees-how-much-are-you-payin.html

Now do we really want to gut SS or Medicare?

I hear guys in their 40s or younger not even thinking they will ever be able to retire. The trouble is your body, health and employer will retire you whether you wish to or not.

[RACEMAN]

401Ks were never intended for the masses. It was created for a few small companies that were getting special treatment.

[mudslinger47]

I think its a "who and how" deal. Who manages it and how they manage it. If they throw it to the market and let it set it probably won't do that well. My wife plowed a ton into hers to get wiped out by Obummer but continued to plow more in, after the huge dip her buying power was large and in the end she did pretty well. Not rich by any standards but very well. And as far as retiring, why? My health is good, I love my work and its not all that strenuous, why retire? To do what be a gray haired ole man driving my motor home down the freeway at 45? Naw, I'll work and enjoy life....if I take a week off at a time I start to go nuts. We spend a week up at Tahoe every spring, by the last couple of days man its time to go....how long can a person sit and be unproductive...

[Bubstr]

I know I put way too much in it for what I got out. The bad thing is the fees are not even in the fine print. They code them. Then you think 2% isn't much, but when you compound it it starts adding up to the manager getting more than you do. I was seeing their take of your retirement was 66%. I'm sitting here thinking, I'm the one lending the money. I should be the one getting compound interest, not paying it.

Do yourself a favor and learn what you have. I don't think a lot of employers really know what they are offering.

[ALASKA54]

He stopped loving her today

RIP Possum:http://www.bing.com/videos/search?q=...ail&FORM=VIRE2

[Clayton_Wetter]

I think its a "who and how" deal. Who manages it and how they manage it. If they throw it to the market and let it set it probably won't do that well. My wife plowed a ton into hers to get wiped out by Obummer but continued to plow more in, after the huge dip her buying power was large and in the end she did pretty well. Not rich by any standards but very well. And as far as retiring, why? My health is good, I love my work and its not all that strenuous, why retire? To do what be a gray haired ole man driving my motor home down the freeway at 45? Naw, I'll work and enjoy life....if I take a week off at a time I start to go nuts. We spend a week up at Tahoe every spring, by the last couple of days man its time to go....how long can a person sit and be unproductive...

My 401K made 6% last year, but if I was able to see the future I could make a killing with it by constantly redirecting the funds.

[Bubstr]

My 401K made 6% last year, but if I was able to see the future I could make a killing with it by constantly redirecting the funds.

If yours is anything like mine was, you get a choice of what risk level, but certainly not what stocks. They pay off brokerage fees by investing in their stock or funds. your fund manager has little responsibility to you. I had years of 17% and a couple that cut the thing in half. I paid the fees either way. Do you realize how much 2% of $100,000 is a year? That's not counting the hidden fees. It's too late for me, but the trouble is, we don't understand these things. Mostly because the fees are camouflaged. I don't know about you, but if I had kept my contributions to 4% to get matching funds from my employer and invested the rest in a good index fund, I would have been about $50,000 to 65,000 richer. Some would be $150,000 richer.

We deserve to have these contracts written out in plain English. Almost all of the republicans and enough democrats in congress decided that we didn't the last time this was brought up in congress.

[Clayton_Wetter]

Yes I can't make specific chioces, just lumped risk levels. I lost $5000 back in 2008 over that deal also.

[mudslinger47]

Yes I can't make specific chioces, just lumped risk levels. I lost $5000 back in 2008 over that deal also.

Wife lost close to 100K on that deal but while the market was around 7 she bought like a madwoman. made most all back, not all but (not a nice word)(not a nice word)(not a nice word)(not a nice word) close. If I recall she bounced around aero space.

[Bubba Smith]

I lost a lot of money on my 401K investments. The way I have figgered they still owe me money but guess what? I can't find them.

When I started checking out who them was, them must have disappeared someplace else.

[RACEMAN]

I think its a "who and how" deal. Who manages it and how they manage it. If they throw it to the market and let it set it probably won't do that well. My wife plowed a ton into hers to get wiped out by Obummer but continued to plow more in, after the huge dip her buying power was large and in the end she did pretty well. Not rich by any standards but very well. And as far as retiring, why? My health is good, I love my work and its not all that strenuous, why retire? To do what be a gray haired ole man driving my motor home down the freeway at 45? Naw, I'll work and enjoy life....if I take a week off at a time I start to go nuts. We spend a week up at Tahoe every spring, by the last couple of days man its time to go....how long can a person sit and be unproductive...

Right on, bud. I too would like to keep working until the Big Guy calls me home. I've been "retired" for several months now and I'm really looking for something constructive to do.

[C4Vette]

Naw, I'll work and enjoy life....if I take a week off at a time I start to go nuts. We spend a week up at Tahoe every spring, by the last couple of days man its time to go....how long can a person sit and be unproductive...

So many golf courses, so little time.

I'm looking forward to retirement in about 10 years or so if all goes well. I'm a bit of a gear head (aren't we all here?). I have one project car that it seems I don't have enough time to spend on. When I retire I'll probably find another project car.

[Bubstr]

This would be 52 minutes well spent to watch.

http://video.indianapublicmedia.org/video/2365000843

[kidrock]

This would be 52 minutes well spent to watch.
http://video.indianapublicmedia.org/video/2365000843

Thanks for the video Bubstr. I kept saying the game was rigged for the super rich and we can not win at their game. It's about time for the market to crash again and guess what your money will be gone.

[mudslinger47]

I can't figure out how you guys didn't know, all your lives, that the little guy always eats crap. Just the way it is. In my business, larger companies crap on me all the time, its a way of life for cryin' in the beer pale. My job is to dodge the piles and dig through the others. I can't see why that is such a surprise. There is absolutely no reason why any one of us couldn't be the rich guy pullin the strings. The only hold back was ourselves. Usual excuses, don't want to move, want to play at the hobbies, need more family time and on and on and on. People that are rich, by and large worked their tails of for it and sacrificed everything else to get where they are today. Do they pull more strings and fix it s its better for them then us? Of course, and thats the same thing your wanting to do to them, only with out the lifetime of work... Shoes a little snug when its on the other foot...

One of my best friends is a millionare a few times, we travel a bit together in our racing endeavors, the guys worked 18 hrs a day up until about 7or 8 yrs ago, he's 77 now. You don't get where he got workin a union job with weekends off. He had a string of auto parts stores, he started out selling parts out of a friends warehouse and off he goes from there. No start up money, just a good line of credit and a gift of gab....