J.K.Logic Wrote: I'm not sure if there is a more effective way right now than just promoting good savings habits. Obviously that's not a popular answer to hear, and many aren't making enough to set much if anything back for when they are older. But if you are, it is imperative that you realize one day you won't be able to produce the amount of income you are today. Setting even a small amount aside, every month, can add up.
J.K.Logic Wrote: Then the question becomes, how much is enough to comfortably retire on?
Richard1022 Wrote:J.K.Logic Wrote: Then the question becomes, how much is enough to comfortably retire on? That's the million dollar question. The main problem with the vast majority of companies doing away with the pension system is that people no longer will have guaranteed income for the remainder of their lives. It's going to be very difficult to determine how much money you will need to live out the rest of your life when you know you are dependent only on yourself. You're one catastrophe away from bankruptcy with no one there to prop you up.
YellowSubmarine Wrote: I would be more worried about starving, than bankruptcy, in that scenario.