Comfortable Amount of Savings

@NailTech (6890)
United States
July 14, 2012 3:58pm CST
For you what would be a comfortable amount of money to have to retire with, do you have a specific amount or do you think that it's too diversified, etc. to comment? Realistically speaking, though not talking about having millions.
1 person likes this
10 responses
• United States
14 Jul 12
I would just want a amount that i can comfortably pay the bills buy the food and be able to spend on crafts and maybe a small vacation once in a while. I dont need to be a millionaire to be happy i just want to be able to live without worries and be comfortable.
@NailTech (6890)
• United States
14 Jul 12
I agree, I know I won't be a millionaire unless some kind of miracle happens,and those are few and far between. I know I should be more goal oriented and try to save more, but with medical bills now I feel it is so out of reach.
• United States
15 Jul 12
I know what you mean, its so hard to save anything with the prices now days and bills. I have been out of school for over a year so far and never realized how hard it would be. I had a bunch of medccail problems there for a while and couldnt work, drive, had to quit college it was bad. I am now just starting to work a cleaning job i got its not much at all a month. I am lucky that i dont have a lot of bills but, i have some and its getting harder and harder watching what i had saved disapear. I feel way out of reach as well.
@choybel (5059)
• Philippines
15 Jul 12
I haven't really thought about retirement yet, but I think that an amount that would provide me food and shelter and to live with other basic needs as well would definitely be what I want by that time. It's not really specific but that's the plan so far.
@NailTech (6890)
• United States
22 Jul 12
Sounds like a good plan to me, it's all that everyone really wants when they are old enough to retire. These days we get older and older as far as the retirement age, too, due to the economy we live within.
@oindy54 (3446)
• India
15 Jul 12
I have not thought of a specific amount honestly and I still need to get a job before thinking of retirement. But your post made me contemplate. I think having my own house, a car, bonds, fixed deposits of three to four hundred thousand rupees, medical and life insurance would help me lead a comfortable life. But more importantly I hope that I would have people near me who care for me. Or else I would be leading a lonely life.
@NailTech (6890)
• United States
22 Jul 12
That is true about the people being around for you to help care for you. Loneliness is not something I would like out of my life either no matter how much money I have or not have. I would love to have my house, and the extras you mentioned as well. Good thinking there, and a good start to getting to your goals if you focus on them first and foremost of the time. Things never go entirely smoothly though in life, thats for sure.
• Philippines
15 Jul 12
The amount needed should be enough to cover my daily expenses and needs. A bit of extra from that amount would be better. I am aiming on having a fund that can generate passive income to live by. Also, having a business or some real estate assets is part of my goals before retiring.
@NailTech (6890)
• United States
15 Jul 12
You have alot of good goals there AgentGulaman, I wish you the best success with it all. These days some people need more than just a pension, it seems.
@celticeagle (118254)
• Boise, Idaho
15 Jul 12
I have SSD and a pension. I did have alittle in savings but used it long ago. And I had some stocks and bonds but I lived off of it once for about three years. It was great. Like a long needed vacation after a divorce. Now days for a person to live comfortably for 20-30 years you need a good pension hopefully and about $500,000.00 to really live comfortable. And getting up into the millions doesn't seem so far off either because things are getting more expensive. So many people are having to keep working and not able to retire.
@NailTech (6890)
• United States
15 Jul 12
Good for you celtic. A pension and SSD sounds like you have it made for your old age. I have no where near that 500,000. and you're right about having to have millions, but who can get that much into savings the way things are going, it is like one thing defeats another. I hope something doe change drastically about everyone's living expenses. My poor dad had to work til he was like 70, he only retired cause they made him, and he got so ill with lung fibrosis.
@cher913 (25891)
• Canada
14 Jul 12
i have heard that you should have at least 60% of what you live on now for at least 20 years past retirement. i think we do need to save and not rely on the government to take care of us when we age because the money is liable to run out.
@NailTech (6890)
• United States
15 Jul 12
That sounds very substantial to me. I wish I could do more for myself currently. I'll probably live an average of 20 more years if things go half way decent for me but I doubt it. I'll probably die homeless, lonely and broke, and very ill. My luck has never been really good ever.
@surfer222 (1715)
• Indonesia
14 Jul 12
For me, i'm comfortable with a small house with no mortgage, a vehicle (a car or motorcycles) and at least $500 monthly passive income from my bank interest or $1000 if i decided to have kids.
@NailTech (6890)
• United States
15 Jul 12
Hi surfer, that sounds like my kind of savings too if I had it that is.
@wongchoiyee (7352)
• Malaysia
14 Jul 12
I would like to have 60 thousand in my funds so that I can live comfortably for the later days when I am old. But now I only have a few thousand and the interest is little only few hundreds a year, the interest will get big if your funds is big too so now I am working as hard as I can from now on and hoping that when that time comes, I can retire comfortably. Even after retire, I can still do some part time job to earn some pocket money.
@NailTech (6890)
• United States
14 Jul 12
Cool, that sounds about reasonable. I hope you get to saving that much one day. I would love to have that plus a home and not have anything extra to pay except maybe for food and expenses that come up which aren't too much. I'm not so sure I have enough is why I ask, and I'm nearly 50 yrs old. I have no steady real job either so it gets to be worrisome.
@gadrian (66)
• Romania
14 Jul 12
Hmm, your question reminded me that I'm not 20+ anymore. I should take these matters more seriously because time passes by. About your question, of course I think I'd prefer to have sufficient resources to live an easy life in my old age, perhaps even enjoy from time to time some vacations. I couldn't give you an approximation of what "sufficient" would be, because conditions and expectations might change in my life from now till then. It's also a matter of what people from different countries with different levels of development might find sufficient. Those amounts could be therefore relative.
@NailTech (6890)
• United States
14 Jul 12
Me neither, I'm going to be 50 nest year if I make it to that age that is. I'm still not sure if I'll be able to with all the stress and such that I have had in my life and most likely will continue to have. Its a never ending cycle, but I know my life won't be easy as I get older, it's partly due to m environment and my own bad choices. I have never went on a vacation in my life, the closest I ever come to as far as vacations are hospital stays and that doesn't count.
@Ixodoi (445)
• Israel
14 Jul 12
If I'll have an apartment with no montage + a car + no owning money to anyone (especially no banks) + $1M saving I'll know I can just live from the interest, and will be quite. Yet, the chances to actually get to this point is reducing all the time...
@NailTech (6890)
• United States
14 Jul 12
Oh wow, 1 mil would be awesome along with the apt and car. I would like to have a check of $1200 a week too if I won the lottery for life. I know that will never happen though as I don't even play. I know what you mean, the cost of living has been getting out of hand and it seems it reduces and never gains.