Retirement

[AngelInDisguise]

I was in my living room listening to my dad talk and they brought up retirement and said that they don't have any(that I know of) retirement money, because when I was little they spent it on computers, motocross bikes, ect. I just feel bad for them. They aren't looking at retirement, but I just feel bad cause he said he will probably have to work till he dies.

 

[BabyPiglet]

So you're dad hasn't been putting retirement money away through his work?

 

[AngelInDisguise]

I don't know??? He owns his own bussiness(I don't know if this makes a difference) I am pretty clueless about retirement.

 

[BabyPiglet]

I don't know??? He owns his own bussiness(I don't know if this makes a difference) I am pretty clueless about retirement.

Uhmm, then how do you know this is what he was talking about?

 

[hidmickey:myantidrug]

Owning his own business makes a big difference. Certain work places take an amount of money out of a person's salary and automatically put it away. This is how (of course along with having his own retirement fund that he personally put into) my grandpa (tec. teacher) retired at 55. I'm guessing if your father owns his own business, it's all in his hands. You should talk to him about how important it is to start a separate fund.

 

[Axel]

My dad's retired and on social security, along with a pension from his old job. My mom's a financial planner, so he's had money saved for a long time.

 

[DisGirlAllie]

I don't know if my parents have any set aside. . Great now I'm all worried and paranoid.

 

[AngelInDisguise]

Uhmm, then how do you know this is what he was talking about?

Because he said RETIREMENT and even though I don't know much about it I can hear.

 

[AngelInDisguise]

I don't know if my parents have any set aside. . Great now I'm all worried and paranoid.

Sorry. I just feel bad, because there isn't really anything I can do. Unless I win the lottery and make a fortune.

 

[BabyPiglet]

Because he said RETIREMENT and even though I don't know much about it I can hear.

I'm sure your parents have it all under control, it's not something you should be worrying about.

 

[schmitty]

Like 70% of America lives from paycheck to paycheck.

 

[AngelInDisguise]

^ I could NEVER do that! and most likey NEVER will!

 

[BabyPiglet]

^ I could NEVER do that! and most likey NEVER will!

Do you even know what that means?

 

[Ping-PongMaster]

well owning a business makes a HUGE difference! my dad owns his own business, and he has set away over a million dollars for retirement so far. he is very young too. he could retire any time he wanted to, but he enjoys what he does. owning a business can make a world of difference. you seem old enough, so you should just go up to your dad and ask him about it. if he doesnt want to discuss it with you, then just accept the fact that it is his own personal business. you never know, he may be ashamed of himself, and may need some cheering up!

 

[Sparx]

Like 70% of America lives from paycheck to paycheck.

60% of america is in debt. something like 55% will never get out of it.

 

[hidmickey:myantidrug]

well owning a business makes a HUGE difference! my dad owns his own business, and he has set away over a million dollars for retirement so far. he is very young too. he could retire any time he wanted to, but he enjoys what he does. owning a business can make a world of difference. you seem old enough, so you should just go up to your dad and ask him about it. if he doesnt want to discuss it with you, then just accept the fact that it is his own personal business. you never know, he may be ashamed of himself, and may need some cheering up!

But on the flip side of that, a lot of people who own their own business don't bring in enough money to put a good chunk of change away.

 

[AngelInDisguise]

Do you even know what that means?

Yes! I am not stupid. Means that you get you pay-check every fri. or w/e the day is.

 

[hidmickey:myantidrug]

Yes! I am not stupid. Means that you get you pay-check every fri. or w/e the day is.

Whoops. Not quite.

It means, to put it simply as to not get tied up in trying to explain things, that people are just making enough to get by. They don't have money in access (in this case, to put away) so they have to live "pay check to pay check", as they say, just to get by paying bills, eating, mortgage/rent, etc.

 

[BabyPiglet]

Yes! I am not stupid. Means that you get you pay-check every fri. or w/e the day is.

No, that's not what it means.

It means on your rely on each coming pay check to pay the bills/buy groceries etc,. It means you don't have a lot of money backed up in savings to rely on.

 

[AngelInDisguise]

Well. Ok I am walking away cuz if I don't I will get hurt.