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

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

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View Poll Results: Poll: How much do you have to support your retirement?
$0 to $500,000 6 13.64%
$500,001 to $1,000,000 13 29.55%
$1,000,001 to $1,500,000 7 15.91%
$1,500,001 to$2,000,000 5 11.36%
$2,000,001 to $3,000,000 7 15.91%
$3,000,001 to $4,000,000 1 2.27%
$4,000,001 to $5,000,000 0 0%
Over $5,000,000 5 11.36%
Voters: 44. You may not vote on this poll

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Poll: How much do you have to support your retirement?
  #1  
Old 04-02-2016, 02:24 PM
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rjm1cc rjm1cc is offline
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Default Poll: How much do you have to support your retirement?

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).

Last edited by rjm1cc; 04-02-2016 at 02:31 PM.

  #2  
Old 04-02-2016, 04:55 PM
Villager Joyce Villager Joyce is offline
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Are people answering this? I wouldn't and didn't.
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  #3  
Old 04-02-2016, 05:00 PM
Bogie Shooter Bogie Shooter is offline
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A Google search will get the answer.
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Old 04-02-2016, 05:01 PM
Bogie Shooter Bogie Shooter is offline
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Quote:
Originally Posted by Villager Joyce View Post
Are people answering this? I wouldn't and didn't.
11 so far.
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  #5  
Old 04-02-2016, 05:13 PM
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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.
  #6  
Old 04-02-2016, 07:04 PM
Marathon Man Marathon Man is offline
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And this poll exists because...?
  #7  
Old 04-02-2016, 07:31 PM
JoelJohnson JoelJohnson is offline
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Oh ... he expected the truth?
  #8  
Old 04-02-2016, 07:46 PM
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Quote:
Originally Posted by Villager Joyce View Post
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.
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Old 04-02-2016, 08:06 PM
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Quote:
Originally Posted by dbussone View Post
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.
  #10  
Old 04-02-2016, 08:11 PM
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Quote:
Originally Posted by Nucky View Post
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.


What's even worse, Nucky, is that IRS and other government servers are not secure.
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pensions, assets, total, retirement, $1, 000, investments, employer, poll, receive, security, social, count, health, household, annual, add, insurance, include, annuities, mortgage, $100, 00, $250, 000, pension, $1, 3450, 000, $4

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