QOTD 3/19

minionlover

Do you think that Social Security is going to still be around when you get to retirement age?

ramstein1027

Nope.  I actually work in the financial services industry now and do a lot of retirement planning work.  It would be awesome if I'm wrong, but I don't think I am.  People make a big mistake when planning for retirement by assuming SS will still be there, especially people in their 20's and 30's.  My advice: plan as if it won't be there, and if it is still there by some miracle, then you'll have that extra income.

mrshall1027

Nope. And that's all I'm going to say because my mom told me if I don't have anything nice to day, then don't say anything at all.

brainybrunette

Unfortunately, I don't think it will be. H and I have already started our retirement savings on the assumption that it will not be around. Even if SS is around, it's not really enough to comfortably live on.

It's no secret that I'm a Liberal...so I think the attacks on social security are just a disgrace!

islandmonkey8

Nope.

WillyH19

Nope.

goatlady12

I would really doubt it!  DH and I just have 401Ks and a sizable savings account for right now.  Hopefully we can do some investments in the near future.

mana8503

Nope!

I started my retirement savings when I started here at age 22. I read a goal should be 1 year salary by age 30, I'm just shy of that. But I also have a pension from here after 30 years that's pretty decent.

H's work has a 401k with a profit sharing thing (from what I read that will match some years when they make a profit... 2015 they already promise a 5% match). So we plan to start his next year. We might also start some IRAs once we get settled with a 6 month emergency fund.

I see how little planning my parents did and at one point I thought they would have to move in with us. That's with ss and my dad's pension! I don't want to be a burden on our kids.

snuff9861

I don't think we'll have it either up here. As soon as I graduate school and start making real money, we'll start saving.

LDubHawksFan

Nope. I've been doing 401k since 21, and between DH and I, we have a lot in investments for retirement. Our goal is 60. Our financial advisor is really impressed with how much we have thus far, and we don't count ss in that.

minionlover

I don't think it will be around either. Thankfully DH and I will both have pensions. DH will be fully vested next year and he stops paying into it then. After that we will set up defered comp. I still have another 5 yrs until I can stop paying. I also have 3 IRA accounts. I am hoping that everything we have will be enough.

xxjen015

Eh, I doubt it. H and I both have IRA accounts through work and H has a 401k through work. I have a mutual fund (small, but it's there) and we both have money invested. Now that we're making a big effort to budget and save, we'll hopefully invest more soon. 

consciousdear88

If it is around, I doubt much will really be left. DH and I each have 401(k)'s from our job. He also had one from his old job as well--it would have cost him more to switch that one over than to just cash it out. So, that has provided us a small nest egg/house down payment when that point comes around.