There are a lot of topics on MT lately about money... this one I think is relevant if not just as important to us the individual. I'm sure it's on our minds all the time (if not every minute of every-day) about if we are going to have enough to live at least comfortably til we're dead and buried.
There are ways to ensure that and there are ways to blow it out of the water.
There are ways to ensure that and there are ways to blow it out of the water.
How's your parachute coming along? (no need for details or numbers...just in general)8 ways to ruin your chances to retire
Sheyna Steiner
Monday December 29, 2008, 6:00 am EST
http://finance.yahoo.com/news/8-ways-to-ruin-your-chances-brn-13925607.htmlIf 50 is the new 30, then 80 must be the new 60. Good thing, because otherwise a lot of people won't be retiring before they draw their last breath.
Last year Bankrate's Financial Literacy survey found that one in five people expect to work until they die. This year one in five people say they're afraid they'll never be able to retire. It's true; we asked the same question two different ways, and the results are unsettlingly identical.
At this rate, the competition for greeting jobs at Wal-Mart will be as fierce as the struggle to get into Harvard.
For the dedicated workers who aspire to devote their entire lives to propelling the economy forward with their unceasing toil, the dream of not retiring can be achieved in any number of ways. We came up with eight.
Ruin retirement
Spend a lot
Save nothing
Ignore savings vehicles
Disregard taxes
Overestimate portfolio earnings
Miscalculate lifetime earnings
Adopt the ostrich approach
Be ignorant about investments