3 out of 5 of us will go broke in retirement

The annuity industry commissions a study that tells you to buy annuities -- and you're latching onto that?
If you've been maxing your 401(k) for 40 years, you'll retire fine.
So long as you don't waste your money on annuities.

 

Looks like my plan of being dead by 50 is coming along nicely.

 

Sort of the polar opposite of IT"S MY MONEY AND I WANT IT NOW!

More like, we'll take your money and dole it back it tou you in little spoonfuls at a time. And take a nice commission each time for doing so.

 

Well, it's not all that bad:

Almost three out of five new middle-class retirees will outlive their financial assets if they keep up their pre-retirement ways of living.

My dad just retired and he drives less, travels less, hangs out at home doing yard work and spends less and loves it.

 

You know what my No. 1 expense is currently?
Saving for retirement.
That won't be as much of a problem when I'm retired.

 

Screw retirement. I max out my 401k (and pay in an extra 3% to boot) and its rate of growth lately has been outstripped by inflation. Social Security will be gone. So I plan to keel over at my desk.

 

OUTING ALERT: FB is Bat Masterson.

 

Do you have kids at home? I'd like to see that budget.

 

Will post on SportsJournalists.com for food!

 

Most of the e-mail spam I get at work hawks leads for annuity salespeople. 'Nuff said.

And yet, Ben Stein can't say enough goods things about annuities.

 

10 percent off the top the the church, a stay-at-home spouse and far more children than the national average is not a prescription for excellent retirement savings.

 

I do, and I've already started saving for her school. The wife and I have a chequing account which ALWAYS remains above the magic "three months expenses (and then some)" number.

Anything, I mean EVERYTHING, that's above that and the kid's school fund at the end of the month goes to retirement.