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April 19, 2007


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I am happy to say I have no delusions about my retirement prospects.


hmm...could it be that most people have no idea how to calculate how much they need to save for retirement. Or maybe they just can't count!

Yes, knowing I will need millions to retire (with inflation and everything - I am only 30) - and also with concerns of rising taxes and healthcare in the long run, and not counting on ss or medicare. I have come up with quite a large number. I know for a fact most people my age have not made retirement a priority. I frankly have no idea how they intend to retire when I am worried about making a target that I started saving for very young. I of course factored in the longevity that runs in the family and wasn't too cocky on ROR. So hopefully reality will be far less than I imagine. Preparing for the worst, hoping for the best.

I hear lots of people dismiss retirement concerns with the commment, "I will never retire, I'll just keep working".

That is hardly realistic.

I do wonder how they come up with the stat that half of Americans have under $25,000 saved. I have three retirement accounts, each at about $50,000. If you were were looking at each of these separately, yes, you would conclude I was woefully underfinanced.

The truth is not quite so grim (although I am in the process of beefing up the balance in my current account to make the outlook better).

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