Comments on: A Life Without Debt: Building the Retirement Nest Egg http://www.pfadvice.com/2009/08/11/a-life-without-debt-building-the-retirement-nest-egg/ Bridging the gap between saving money and investing Fri, 10 Feb 2012 02:42:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: ProfBill http://www.pfadvice.com/2009/08/11/a-life-without-debt-building-the-retirement-nest-egg/comment-page-1/#comment-951626 ProfBill Thu, 14 Jul 2011 03:05:11 +0000 http://www.savingadvice.com/blog/?p=4992#comment-951626 We will Social Security into the far future. But, it will probably provide a smaller portion of your living expenses than now. There are many ways to fix it. One example - right now we have a low income cap for which Soc. Sec. is taken. Why cant those hedge fund managers making billions, pay soc. sec. tax on all of it? His kid will attend Harvard and mine ends up in ´stan in the Army. How is soc. sec. tax on only the first hundred thousand or so, fair? We will Social Security into the far future. But, it will probably provide a smaller portion of your living expenses than now. There are many ways to fix it. One example – right now we have a low income cap for which Soc. Sec. is taken. Why cant those hedge fund managers making billions, pay soc. sec. tax on all of it? His kid will attend Harvard and mine ends up in ´stan in the Army. How is soc. sec. tax on only the first hundred thousand or so, fair?

]]> By: Foxie | CarsxGirl http://www.pfadvice.com/2009/08/11/a-life-without-debt-building-the-retirement-nest-egg/comment-page-1/#comment-626342 Foxie | CarsxGirl Wed, 12 Aug 2009 17:14:34 +0000 http://www.savingadvice.com/blog/?p=4992#comment-626342 I understand saving for retirement... I have a Roth IRA and a 401(k), at 21. But right now, considering all of what I want to do when I'm young... I can't save all that much. Total, I've got roughly $1.5k stashed away in both, but I have no clue whether it's a good thing or not. (Too little? Or good enough because I'm a bit ahead of the curve?) I appreciate saving for the future, but I want to have some semblance of a life now... Yeah, I could retire a millionaire, but I don't want to do it making myself miserable. I'm hoping that graduating from college and getting a better job help me out. Right now, I don't make enough money to do all of what I want to do, and retirement's the one thing that I don't want to put off saving for, but it's on the chopping block for sure. I understand saving for retirement… I have a Roth IRA and a 401(k), at 21. But right now, considering all of what I want to do when I’m young… I can’t save all that much. Total, I’ve got roughly $1.5k stashed away in both, but I have no clue whether it’s a good thing or not. (Too little? Or good enough because I’m a bit ahead of the curve?)

I appreciate saving for the future, but I want to have some semblance of a life now… Yeah, I could retire a millionaire, but I don’t want to do it making myself miserable. I’m hoping that graduating from college and getting a better job help me out. Right now, I don’t make enough money to do all of what I want to do, and retirement’s the one thing that I don’t want to put off saving for, but it’s on the chopping block for sure.

]]> By: Steven http://www.pfadvice.com/2009/08/11/a-life-without-debt-building-the-retirement-nest-egg/comment-page-1/#comment-626299 Steven Wed, 12 Aug 2009 14:14:16 +0000 http://www.savingadvice.com/blog/?p=4992#comment-626299 Wonderful advice. Every year, social security will send you a statement of earnings showing how much money you have made to date in your lifetime. I noticed when I was 45, I had more money invested in my IRA, 401K, and my brokerage account, than I had made working for a paycheck. I retired in 2005, at age 57, debt free and financially comfortable. Wonderful advice.

Every year, social security will send you a statement of earnings showing how much money you have made to date in your lifetime.

I noticed when I was 45, I had more money invested in my IRA, 401K, and my brokerage account, than I had made working for a paycheck.

I retired in 2005, at age 57, debt free and financially comfortable.

]]> By: FinanciallySmart http://www.pfadvice.com/2009/08/11/a-life-without-debt-building-the-retirement-nest-egg/comment-page-1/#comment-626164 FinanciallySmart Wed, 12 Aug 2009 02:15:02 +0000 http://www.savingadvice.com/blog/?p=4992#comment-626164 Yes being debt free is the best way forward for a good retirement. A lot of us make the mistakes of gaining unnecessary wants instead of planning towards having a good time during the retirement years. Thanks for sharing your article. Yes being debt free is the best way forward for a good retirement. A lot of us make the mistakes of gaining unnecessary wants instead of planning towards having a good time during the retirement years. Thanks for sharing your article.

]]> By: Richmonder http://www.pfadvice.com/2009/08/11/a-life-without-debt-building-the-retirement-nest-egg/comment-page-1/#comment-626148 Richmonder Wed, 12 Aug 2009 00:12:47 +0000 http://www.savingadvice.com/blog/?p=4992#comment-626148 Also, one should consider paying off the home mortgage eary. It will give you a great peace of mind. The tax benefit of having a mortgage is a gimmick for working folks9unless you are in high tax bracket). especially when your rate is above 5% and you can not earn that much in any safe investment. My two cents... Good article. Also, one should consider paying off the home mortgage eary. It will give you a great peace of mind. The tax benefit of having a mortgage is a gimmick for working folks9unless you are in high tax bracket). especially when your rate is above 5% and you can not earn that much in any safe investment.

My two cents…

Good article.

]]> By: Broken Arrow http://www.pfadvice.com/2009/08/11/a-life-without-debt-building-the-retirement-nest-egg/comment-page-1/#comment-626064 Broken Arrow Tue, 11 Aug 2009 15:59:50 +0000 http://www.savingadvice.com/blog/?p=4992#comment-626064 Good article! It's what I've been harping on all along myself. Anyway, congrats for reaching your goal so early! Good article! It’s what I’ve been harping on all along myself. Anyway, congrats for reaching your goal so early!

]]> By: Jay Gatsby http://www.pfadvice.com/2009/08/11/a-life-without-debt-building-the-retirement-nest-egg/comment-page-1/#comment-626060 Jay Gatsby Tue, 11 Aug 2009 15:26:40 +0000 http://www.savingadvice.com/blog/?p=4992#comment-626060 Solid advice. Too bad most people won't listen. Solid advice. Too bad most people won’t listen.

]]> By: Sherry http://www.pfadvice.com/2009/08/11/a-life-without-debt-building-the-retirement-nest-egg/comment-page-1/#comment-626057 Sherry Tue, 11 Aug 2009 15:08:41 +0000 http://www.savingadvice.com/blog/?p=4992#comment-626057 It is so great that you are so young and have such a good life plan. My favorite line is: "..So they continue to finance large and small purchases, living only for today and heedless of the distant future." That does seem to be at the root of the problem. Congratulations. It is so great that you are so young and have such a good life plan. My favorite line is: “..So they continue to finance large and small purchases, living only for today and heedless of the distant future.” That does seem to be at the root of the problem.

Congratulations.

]]>