Comments on: Why You Need to Start Saving for Retirement Now: Compound Interest http://thebillfold.com/2012/03/why-you-need-to-start-saving-for-retirement-now-compound-interest/ Everything About Money You Were Too Polite To Ask Wed, 19 Jun 2013 05:09:48 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: ashleyj18 http://thebillfold.com/2012/03/why-you-need-to-start-saving-for-retirement-now-compound-interest/#comment-44981 ashleyj18 Sat, 20 Apr 2013 20:10:38 +0000 http://thebillfold.com/?p=7#comment-44981 8%? What recession do you live in? More like .8%. 8%? What recession do you live in? More like .8%.

]]> By: Jul Phamily@facebook http://thebillfold.com/2012/03/why-you-need-to-start-saving-for-retirement-now-compound-interest/#comment-33526 Jul Phamily@facebook Mon, 04 Feb 2013 04:53:55 +0000 http://thebillfold.com/?p=7#comment-33526 Maybe I just have really good company matching and its requirement to save for retirement at x% but obtaining $1 million by age 65 is a given even at 5% earning. That leads me to another point - $1 million is not enough to retire on. Am I missing something? Maybe I just have really good company matching and its requirement to save for retirement at x% but obtaining $1 million by age 65 is a given even at 5% earning. That leads me to another point – $1 million is not enough to retire on. Am I missing something?

]]> By: Popop Nana@facebook http://thebillfold.com/2012/03/why-you-need-to-start-saving-for-retirement-now-compound-interest/#comment-24841 Popop Nana@facebook Sun, 18 Nov 2012 04:28:35 +0000 http://thebillfold.com/?p=7#comment-24841 Sure, tell everybody its for your retirement account. Can you have my boss cut two checks. What's wrong with the car. Those pricks know! Sure, tell everybody its for your retirement account. Can you have my boss cut two checks. What’s wrong with the car. Those pricks know!

]]> By: Mike Dang http://thebillfold.com/2012/03/why-you-need-to-start-saving-for-retirement-now-compound-interest/#comment-248 Mike Dang Sun, 08 Apr 2012 01:53:13 +0000 http://thebillfold.com/?p=7#comment-248 @Jake It's true that there is no way to project how the market will perform, but here's some info provided from <a href="http://www.bankrate.com/calculators/retirement/roth-ira-plan-calculator.aspx" rel="nofollow">Standard & Poor's to consider</a>: From January 1970 to December 2009, the average annual compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 10.1%. That includes the recessions of the early '70s,'80s, and '90s, the dot-com bubble burst, and the housing crisis and recession of the mid and late aughts. Save early and regularly — even when the market is low (i.e. buying low), because the market will eventually correct itself. @Jake It’s true that there is no way to project how the market will perform, but here’s some info provided from Standard & Poor’s to consider: From January 1970 to December 2009, the average annual compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 10.1%.

That includes the recessions of the early ’70s,’80s, and ’90s, the dot-com bubble burst, and the housing crisis and recession of the mid and late aughts. Save early and regularly — even when the market is low (i.e. buying low), because the market will eventually correct itself.

]]> By: Jake http://thebillfold.com/2012/03/why-you-need-to-start-saving-for-retirement-now-compound-interest/#comment-242 Jake Sat, 07 Apr 2012 22:53:07 +0000 http://thebillfold.com/?p=7#comment-242 Except that shit doesn't grow at 8% any more, and probably won't for quite a while yet. At the much more realistic 4.5%, 300$/year for 40 years only comes to $395,000. Not only do we need to start saving early, we need to save bigger percentages of our incomes than our parents did. Except that shit doesn’t grow at 8% any more, and probably won’t for quite a while yet. At the much more realistic 4.5%, 300$/year for 40 years only comes to $395,000. Not only do we need to start saving early, we need to save bigger percentages of our incomes than our parents did.

]]> By: jen325 http://thebillfold.com/2012/03/why-you-need-to-start-saving-for-retirement-now-compound-interest/#comment-124 jen325 Thu, 05 Apr 2012 12:36:51 +0000 http://thebillfold.com/?p=7#comment-124 Ugh, it's always so depressing to read this stuff when you're in your thirties and have no retirement savings. I wish I hadn't moved out of my parents' house at such a young age. Ugh, it’s always so depressing to read this stuff when you’re in your thirties and have no retirement savings. I wish I hadn’t moved out of my parents’ house at such a young age.

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