...a set of guidelines from Time...I would view these as minimum requirements:
What You Should Save By 35, 45, and 55 To Be On Target:
Getting started is half the battle when it comes to building retirement security. Setting near term goals are important too. Here's how to do both.
By Dan Kadlec
At age 35, you should have saved an amount equal to your annual salary.
At age 45, you should have saved three times your annual salary.
At 55, you should have five times your salary.
When you retire at age 67, you should have eight times your annual pay.
Read more: Retirement Saving Goals for Ages 35, 45 and 55 | Moneyland | TIME.com
...majestically enthroned amid the vulgar herd...
What do you do when you hit 75? Pattaya balcony time?Originally Posted by tomcat
One option is clearly to reduce your annual income so that it fits the savings criteria.
Age 55 with annual income of $ 100,000 and savings of $ 250,000 means you have underprovided.
There are two choices. Either find another $ 250,000 from somewhere or simply take a 50% paycut.
You just can't beat sound retirement advice
Someone who has ThB 20,million saved by the time of 60 or so can retire reasonably comfortably in Thailand, especially if they have bought their own accommodation....and keep out of the bars.
Last edited by Chang; 22nd September 2012 at 12:10.
Migrated
$2 - $2
$2 - $6
$1.5 - 7.5
$0 - $0
'should' is contingent.
'If' you want to be healthy you 'should' eat right and exercise.
People get condtioned and think 'should' is what 'has to' to be done.Its your choice. Retirement articles like this are shit.
For what reason 'should' i save according to this example?
fred
fuckenA, fred!
a buncha assholes trying get people to be like them
fuckem, cluez, fuckem. they don;t know shit
I'm way behind that schedule. Hell, even if I continued with the great job and healthy 401k I had prior to the recession I would still be well behind this figure now. I just don't see it happening, not if you have any kind of life, a mortgage, rent anywhere but the ghetto.
One of the reasons I bailed on that life. Why work my ass off now to have money when I'm too fucking old to enjoy it?
"While Jim is milking the Russian Boar, I'm in the shade of a Baobab tree being served a cool drink by a beautiful young indigenous girl. "
Marlin Perkins
Aloha - Aloha HARD
or even more common now, to die before ever getting to enjoy the money.
So basically save (only) 1/5th of your salary.
Sweet! I'm ahead in life.
Though can the article tell me what to do with it?
Guy Manpoof sux nuts for $$.
Tomcat trained. Satisfaction guaranteed.
exactly. gotta save money to pay for that nursing home. fun fun
I'm eight years ahead, best news i've had all year.
IMO this is much too low. Doesn't this calculation assume the saver will receive Social Security payments in retirement? I don't think most foreign teachers in Thailand will be.
---Update---
For example, let's assume someone is making 50,000 baht per month. At 67 could this person retire comfortably with 4.8 million baht? It's possible, but I don't think so.
...many American teachers (myself included) worked at least 40 quarters in the US before following the pheromone trail and are entitled to some Social Security income...
...none at all: you may decide, for example, that a bottle of vodka and a shotgun is a fine retirement strategy...
...it doesn't have to be that way: modest contributions to an after-tax retirement account will guarantee you some income even if you have to work while receiving it...
I did that for years. Most of it disappeared 4 or 5 years ago.
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