|
|
08-19-2017, 07:55 AM
|
#1
|
Senior Member
Join Date: Jun 2012
Location: The Bluegrass State
Posts: 8,882
|
Retirement Savings
I had an interesting conversation with one of my neighbors about retirement savings. He had commented about how I must have inherited a lot of money to be able to afford a motorhome and travel so much in our retirement years. He said I'm still working at 70 and will be until I'm 85! "how did you get so rich?" he asked.
"Well, I haven't received any inheritance, but I did have a smart father and he instilled in me to put away 6% of my earnings into a retirement account (or the same amount as what Social Security took out of paychecks). I started that when I was a newspaper boy back in the 60's and have done that with every job I have held since" I told him, "and I never touched that money until retirement time". He countered with "I couldn't do that because I needed all of my money to live on".
So my question to you kind people is "Did you save for retirement?"
__________________
Good Luck, Be Safe and Above All, Don't Forget To Have Fun
Pete
Central Kentucky
2006 Fleetwood Discovery 35H, 2014 Honda CR-V, M&G Engineering Braking System
|
|
|
|
Join the #1 RV Forum Today - It's Totally Free!
iRV2.com RV Community - Are you about to start a new improvement on your RV or need some help with some maintenance? Do you need advice on what products to buy? Or maybe you can give others some advice? No matter where you fit in you'll find that iRV2 is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with other RV owners, see fewer ads, upload photographs, create an RV blog, send private messages and so much, much more!
|
08-19-2017, 08:00 AM
|
#2
|
Senior Member
Join Date: Jul 2017
Posts: 434
|
Yes, we both work for major corp. so have had the benefit of great matching in our 401 accts. If you don't see it you will never miss it. Each time I get a raise I up my percentage into my 401 so it has grown nicely over 25 yrs. I have always pushed new employees to take advantage of this as well because they will not have the benefit of a pension like us old timers.
__________________
Mike & Kelly
2017 Discovery 40E Freightliner Cummins 380hp
2017 Jeep Wrangler Unlimited
|
|
|
08-19-2017, 08:08 AM
|
#3
|
Senior Member
Join Date: Jun 2017
Posts: 2,807
|
Quote:
Originally Posted by Bigd9
I had an interesting conversation with one of my neighbors about retirement savings. He had commented about how I must have inherited a lot of money to be able to afford a motorhome and travel so much in our retirement years. He said I'm still working at 70 and will be until I'm 85! "how did you get so rich?" he asked.
"Well, I haven't received any inheritance, but I did have a smart father and he instilled in me to put away 6% of my earnings into a retirement account (or the same amount as what Social Security took out of paychecks). I started that when I was a newspaper boy back in the 60's and have done that with every job I have held since" I told him, "and I never touched that money until retirement time". He countered with "I couldn't do that because I needed all of my money to live on".
So my question to you kind people is "Did you save for retirement?"
|
Yup, beer, cigarettes, tattoos, lottery tickets and $200 a month cable TV ain't free.
|
|
|
08-19-2017, 08:17 AM
|
#4
|
Senior Member
Join Date: Feb 2013
Location: Sedona, AZ
Posts: 2,989
|
I had an employer that required that we put a certain percentage every year into an IRA. No match mind you. Just the requirement. I hated it then but am so grateful now.
__________________
Shell Bleiweiss
2014 1/2 Thor Challenger 37KT
Sedona, AZ
|
|
|
08-19-2017, 08:39 AM
|
#5
|
Senior Member
Join Date: Mar 2017
Posts: 322
|
I am getting pretty fed up with the "you must be rich" garbage . . . see a lot of it on this website which is disappointing. We may seem to be "rich" but its only the result of between the two of us having worked almost 90 YEARS and saving.
If you want to buy a older unit and fix it up I'm all for it! Did it with multiple houses but don't act like you are somehow "better" than someone who made a different choice.
Buy what you want and can afford then get out in the wind and enjoy it!
__________________
Two lovers searching for special times traveling. No motorhome yet . . . still looking Steve & Debbie
|
|
|
08-19-2017, 08:53 AM
|
#6
|
Senior Member
Country Coach Owners Club Solo Rvers Club iRV2 No Limits Club
Join Date: May 2011
Location: Vancouver, WA
Posts: 37,725
|
I worked for the State of Washington for 30 years. In 1998 I started collecting 60% of my highest two years of work. My late wife had a retirement through her employer, plus bought stock with matching from the company. Since her death a year ago this coming Monday I get her higher SS too.
__________________
2009 45' Magna 630 w/Cummins ISX 650 HP/1950 Lbs Ft, HWH Active Air
Charter Good Sam Lifetime Member, FMCA,
RV'ing since 1957, NRA Benefactor Life, towing '21 Jeep JLU Rubicon Ecodiesel
|
|
|
08-19-2017, 08:56 AM
|
#7
|
Senior Member
Join Date: Sep 2016
Location: New Smyrna Beach Fl
Posts: 232
|
yes we were able to retire last year at 60 lived very very comfortable life never above our means, purchased certified preowned cars instead of new as I put about 30k miles a year. Bonuses were truly bonuses. half for travel half for investing. We have owned 8 homes in 40 years and whenever we sold a home rolled the equity into new home to keep mortgage payment low and paid credit cards off at end of each month. When we purchased our MH we purchased one that was 15 months old let the original owner take the hit And will take SS at 62
__________________
Don & Liz B. w/ Pink Retired Greyhound
Forest River
2016 GTS 2800QSF
|
|
|
08-19-2017, 08:57 AM
|
#8
|
Senior Member
Vintage RV Owners Club Holiday Rambler Owners Club
Join Date: Aug 2016
Location: Rochester, NY
Posts: 356
|
I have a large jar of quarters....
__________________
Steve (spinroch)
1997 Holiday Rambler Vacationer 31'
1996 Chevy P30 FROG 454 TBI
|
|
|
08-19-2017, 09:04 AM
|
#9
|
Senior Member
Join Date: Jul 2017
Posts: 434
|
Quote:
Originally Posted by spinroch
I have a large jar of quarters....
|
You're Set
__________________
Mike & Kelly
2017 Discovery 40E Freightliner Cummins 380hp
2017 Jeep Wrangler Unlimited
|
|
|
08-19-2017, 09:07 AM
|
#10
|
Senior Member
Join Date: Mar 2017
Posts: 322
|
Quote:
Originally Posted by spinroch
I have a large jar of quarters....
|
Just emptied our Beer mug "found money jar (loose change)" and yielded about $80 bucks! WHHOOOO HOOOOO!! Gonna get to eat tonight! LOL
__________________
Two lovers searching for special times traveling. No motorhome yet . . . still looking Steve & Debbie
|
|
|
08-19-2017, 09:11 AM
|
#11
|
Junior Member
Forest River Owners Club
Join Date: Aug 2017
Posts: 14
|
When I was a kid working I could not understand how my friends always had toys - boats, three-wheelers, etc when I could not afford them. I am now retired for about 8 months, but during my professional career I always put away as much money as I could into retirement because my motto has always been "you pay now, or you pay later"
I currently have 4 retirement accounts, and use only one of them. Interestingly, the one I use gives me more take-home pay that I had when I was working full time.
__________________
PZ
2011 Rockwood 8288SS
2012 Ram 3500 6.7L Cummins
|
|
|
08-19-2017, 09:16 AM
|
#12
|
Member
Join Date: May 2017
Posts: 31
|
Mindset
I retired from the Army at 55 years old. 34 years total, 14 Active Duty and 10 good years National Guard. We saved and invested most of our married lives. At times, up to 17%. To be sure, we are blessed, we worked hard, and made choices.
I grow tired of slackers that say "you're rich or lucky, 'cause the government is paying your retirement." Well, I've got 7 combat deployments and all the associated exposure.
Fast forward. Our cars are paid for, the house payment is made automatically from investments, we are on the road 45-60 days a year, and we tithe. On paper, we are not rich. We live a rich life because of choices made and blessings from the Almighty.
__________________
2017 Grand Design 2600RB
2012 Ford F-150 Platinum 4x4 3.5 Ecoboost
Blue Ox BXW 1000 w/Straptek
|
|
|
08-19-2017, 09:25 AM
|
#13
|
Senior Member
Newmar Owners Club Workhorse Chassis Owner Spartan Chassis
Join Date: May 2010
Location: McAlester Ok
Posts: 2,057
|
When the kids were little and money was tight, I did not save. In my early 30s I did buy whole life insurance, that I use to fund their college tuition for my two kids. Then I started saving for retirement. Company's had nice matching for 401 K so at first I contributed that matching percentages. Then, every time I got a raise, 1/2 of that percentage went into that 401K. I was contributing the legal max for the last several years. The company stock it was invested in did fairly well. I did take a small loan from it once, did the numbers later and learned what a mistake that was! A divorce after 25 years of marriage it it hard, but was surprised how that recovered by being conservative, and working until age 64.
And most importantly, I am truly, truly BLESSED.
__________________
2007 Newmar KSDP. 3912
2010 Nissan Frontier SE
|
|
|
08-19-2017, 09:32 AM
|
#14
|
Senior Member
Winnebago Owners Club Workhorse Chassis Owner
Join Date: Feb 2015
Posts: 585
|
As I look back over my 69 years I can't think of a dime I regret spending except for that DAMN 76 Cardova!! Hated that car!!!!!
__________________
WE WORK HARD SO OUR DOG CAN HAVE A BETTER LIFE
2005 ADVENTURER 38J
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
Search this Thread |
|
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Discussions |
|
|
|
|
|
|
|
|
|
|
|
|
|