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Tag Archives: saving for retirement

Odds Are You Are Going to Retire Hungry and Poor

If your 75 year old self could talk to you today about making retirement saving a priority, what advice do you think you'd hear?

Americans can be in as much current day denial as they want to about their future and what retirement will look like but recent studies show a significant number of people are not at all confident they will be able to retire with adequate income and savings. According to the Employee Benefit Research institute, 49 percent of workers surveyed said ... Read More »

I’m 62 Years Old and Saving Hard for Retirement. What About Our Other Debt? – Michael

retirement

“Dear Steve, I am 62 yo, wife is 61 yo. Our combined stats: -We have $27k in credit card debt (0% interest, due to finding 12-18 month 0% promotional rates), -$200k home mortgage using a 5/5 arm at 2.75% which amounts to a $1000/month P&I payment–our property tax in NJ is $1000/month, -$400k in retirement savings–401k, ira, annuities mostly in ... Read More »

Chances Are You WIll Live Long Enough to Be Broke

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Photo Credit: Rosie O’Beirne I just read that the life expectancy for people in the United States and Canada continues to rise. Seems like a real blessing, doesn’t it. We get to live a longer life. But how are we going to afford medical care and to feed ourselves if life far exceeds our ability to work and earn? Unless ... Read More »

No Retirement, No Savings, Drowning in Debt. – Randy

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“Dear Steve, Self employed – earned about $80K in 2010 (up from 2009); 58 years old. $10K in savings; no retirement plan other than to work ’till the end. Home owner – mortgage etc. about $2K/mo; no equity, but not underwater either – just about even. Unsecured debt is about $50K. Not behind yet in anything, but between self-employment taxes ... Read More »

We Are Seven Years From Retiring. How About This Plan for Eliminating Our Debt? – Alan

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“Dear Steve, We are 7 years from retiring ( we are on target to have 5K a month in retirement annuities) Owe 110K on house Have 68K in college loans for 4 kids to pay off Have 28K in credit card Have 25K in 2 car loans The wife and I bring home 102K combined each year I would like ... Read More »

How Can We Pay Down Our Debt to Save For College? – Marie

justball-144x125

“Dear Steve, I will try to make a long story short…Currently have approx $38K in credit card debt, $30K in HELOC, $195K in first mortgage, $8K in car loan. Husband is collecting disability for heart condition and works part-time. Our combined income with disability for husband and payments for our children, his part-time income and my full time income is ... Read More »

I’ve Never Participated in My Companies 401(k). – Steve

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“Dear Steve, I am 40 yrs old and have been working at the current corporation for about 10 years now. I have not participated in the 401K plan(they do not contribute or match at all). I feel like i am the only one there who doesnt. Now everyone probably have some decent money towards retirement and I have nothing at ... Read More »

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