Poll: How much do you have to support your retirement?

[rjm1cc]

A common question for people about to retire is how much do I need.

Maybe a sample of a large number of retires will help answer the questions.

Please check off the group you fall into as of today.

Please total all your assets (except retirement home) that you could use to meet retirement expenses.

Reduce this by debts, including all mortgages.

Pensions have value and to value them use the old 4% safe withdrawal rule. To do this multiply your annual household pensions by 25 and add this to your total. Pensions include social security, employer pensions, employer health insurance, annuities (do not count in investments) and any other regular payment you receive that is not generated by your investments assets.

For example if you receive monthly payments of $1,000 and your spouse $2,000 from social security, a pension of $1,000, assets of $250,000 and a $100,00 mortgage your total assets for this poll is $1,3450,000 ($4,000*12*25 + $250000 -$100,000).

[Villager Joyce]

Are people answering this? I wouldn't and didn't.

[Bogie Shooter]

A Google search will get the answer.

[Bogie Shooter]

Are people answering this? I wouldn't and didn't.

11 so far.

[gomoho]

I can tell you we have a nice healthy monthly income from pensions, ss, and a small VA disability payment that allows us to more then meet our monthly expenses, have fun and often end up with an addition $1000. a month. Have a nice nest egg we only touch when something special is needed or wanted. And we have a mortgage and a car payment which is not a problem for us. We are blessed indeed to both have stayed with very stable companies that should come through with that pension without a problem till the day we die. And what you need is totally dependent on how you choose to live not by what other people have or don't have - it's such an individual thing.

[Marathon Man]

And this poll exists because...?

[JoelJohnson]

Oh ... he expected the truth? :)

[dbussone]

Are people answering this? I wouldn't and didn't.



That's the correct answer as far as I am concerned. It seems to me, as with so many other similar requests, that one may be setting yourself up for identity theft. Certainly they can track your user ID and other data.

I was one of those who lost all kinds of personal data, including SS#, etc., when the IRS was hacked last year. Someone was kind enough to file a return for me in December 2015. Fortunately, my accountant always files with a personal ID#. That told the IRS that the filing was not mine and they contacted me to verify that information.

As Ronald Reagan famously said, beware of those who say: "Hello, I'm from the government and I'm here to help you."

And watch out for the IRS robocall scam that would have you believe the IRS has either moved to India or has a call center there.

[Nucky]

That's the correct answer as far as I am concerned. It seems to me, as with so many other similar requests, that one may be setting yourself up for identity theft. Certainly they can track your user ID and other data.

I was one of those who lost all kinds of personal data, including SS#, etc., when the IRS was hacked last year. Someone was kind enough to file a return for me in December 2015. Fortunately, my accountant always files with a personal ID#. That told the IRS that the filing was not mine and they contacted me to verify that information.

As Ronald Reagan famously said, beware of those who say: "Hello, I'm from the government and I'm here to help you."

And watch out for the IRS robocall scam that would have you believe the IRS has either moved to India or has a call center there.

dbussone, I read about phoney phone calls and to beware when answering a number I don't recognize. The warning was here on TOTV. I'm almost certain it was yesterday and by the time the sun went down after being left alone by these pinheads for a while the call came from a bank that was a fugazy. It's a sport for people to take advantage of each other and now it's a business. You have to have eyes in the back of your head. What a shame. Phony tax returns....amazing. :police:

[dbussone]

dbussone, I read about phoney phone calls and to beware when answering a number I don't recognize. The warning was here on TOTV. I'm almost certain it was yesterday and by the time the sun went down after being left alone by these pinheads for a while the call came from a bank that was a fugazy. It's a sport for people to take advantage of each other and now it's a business. You have to have eyes in the back of your head. What a shame. Phony tax returns....amazing. :police:



What's even worse, Nucky, is that IRS and other government servers are not secure.

[TOTV Team]

Polls can be done where the user is anonymous.

[Polar Bear]

Are people answering this? I wouldn't and didn't.
Totally agree.

First time I saw this post was on Tapatalk and the poll itself didn't show up. I figured it was just a harmless way for people to do the calculation by themselves and see how it came out.

Answer the poll? Never...not in a non-anonymous format.

[dbussone]

Totally agree.

First time I saw this post was on Tapatalk and the poll itself didn't show up. I figured it was just a harmless way for people to do the calculation by themselves and see how it came out.

Answer the poll? Never...not in a non-anonymous format.

And for a slick hacking group, even what appears anonymous could be non-anonymous. All kinds of identifying data can be gathered by participation in what seems like an anonymous survey.

[Polar Bear]

And for a slick hacking group, even what appears anonymous could be non-anonymous. All kinds of identifying data can be gathered by participation in what seems like an anonymous survey.

That too. Being certain any poll is truly anonymous is another topic altogether.

[RickeyD]

Are people answering this? I wouldn't and didn't.



The OP has more then 1000 posts and he describes his occupation as an accountant. He's a numbers guy. Nothing here can harm anyone. The bottom line is a number, nothing more.

[Polar Bear]

The OP has more then 1000 posts and he describes his occupation as an accountant. He's a numbers guy. Nothing here can harm anyone. The bottom line is a number, nothing more.

Depends on your definition of harm. Information obtainable from such a simple poll may be limited, but if you think nothing useful can gleaned from filling out such a form, you are mistaken.

[rubicon]

:popcorn:

The response to the OP's question is that he is framing the question incorrectly. The most common mistake is that folks focus on the amount of income they need to retire. so called expert advise that you need to retain 70-80% of what you earn per year before you retire.

However, the critical part of this equation is what you remove from your budget that will comprise the 20-30% difference.

As o security concerns if you live in TV people of dubious intent already circled you as a potential client even if your not a member of TOTV. All it takes is a phone book. By the way if you are on Facebook, Twitter, etc they already know more about you than your spouse

[jimbo2012]

As o security concerns if you live in TV people of dubious intent already circled you as a potential client even if your not a member of TOTV. All it takes is a phone book. By the way if you are on Facebook, Twitter, etc they already know more about you than your spouse

almost tooooo true

One thing you may not be aware is with this software the person starting the poll can see who votes for what! :throwtomatoes: