Your wealth when you RETIRE

[frenchtower]

Have you ever asked yourself at what age are you going to stop working for money and your money working for you instead?

At what age do you plan on retiring and how much wealth have you accumulated during your lifetime?

Here are simple tools that will help you estimate how much you need for retirement:

http://cgi.money.cnn.com/tools/retir...entplanner.jsp

http://moneycentral.msn.com/retire/planner.aspx

http://www.bloomberg.com/invest/calculators/retire.html

You'll be amazed how much you still need to raise for your golden parachute. Note: this is based on US standards. Just convert the Peso against the Dollar or vice versa.

Fill in the blanks and in the end it will show you the result.

For those without 401K, just leave it blank. If you have diversified investment, consider it as part of your retirement stash.

Folks in their 20's or 30's sometimes neglect to foresee what their lives would be when they get older. Most pinoys, IMHO, have late stage financial literacy and maturity. The perfect time to prepare for this certainty is as early as possible. Just hoping you agree.

I'm planning to retire at age 65 and hopefully, my investments will bouy me and my family forward till I expire.

Let's see how you fare?

[tidus1203]

You know bakit di ako masyado believe sa mga retirement calculators na yan, there is one thing that is so unpredictable and that is INFLATION. If I am right, inflation will be a huge problem later on because of all the pumping in the system.

But with that said, I do agree savings should be a habit!

[frenchtower]

You know bakit di ako masyado believe sa mga retirement calculators na yan, there is one thing that is so unpredictable and that is INFLATION. If I am right, inflation will be a huge problem later on because of all the pumping in the system.

But with that said, I do agree savings should be a habit!

True. These are just basic calculators and does not accurately depict what one needs upon retirement. However, I know some folks would like to know how much wealth they need to accumulate (without downplaying inflation).

Good point Tidus.

[uls]

just don't run out of money before you die

[Isuzoom]

kahit maliit basta healthy and walang utang ok na.

[Sriver]

magnda habang nagsisimula palang ganyan na ang mindset, usually pag bata pa kasi, outing kung saan saan, gastos dito at doon.

[al shaheen]

kahit maliit basta healthy and walang utang ok na.

+1 ako dito, tapos may munting taniman sa paligid ng bahay na pang libangan, ayos na

[empy]

You know bakit di ako masyado believe sa mga retirement calculators na yan, there is one thing that is so unpredictable and that is INFLATION. If I am right, inflation will be a huge problem later on because of all the pumping in the system.

But with that said, I do agree savings should be a habit!

i agree about inflation. the other big unknown is your average rate of return...while it's true that the stock market returns close to double digit growth on average and over time, it's very volatile year over year, as 2008-2009 has evidenced. kung ma-timing ka sa down year tepok ka :dead:

[alwayz_yummy]

i am weathy when i retire.

i have absolute financial freedom.

my kids graduated from the best schools money can buy.

my heirs will have the best of everything.

i can have any car i want.

i have the perfect health.

i have the perfect family.

i own a decent home in tierra pura, qc.

i can go on vacation anywhere in the world.

i can have anything i want.

and lastly, right now, as i say this, i am thanking that i will be receiving what i stated above.

[shadow]

i am weathy when i retire.

i have absolute financial freedom.

my kids graduated from the best schools money can buy.

my heirs will have the best of everything.

i can have any car i want.

i have the perfect health.

i have the perfect family.

i own a decent home in tierra pura, qc.

i can go on vacation anywhere in the world.

i can have anything i want.

and lastly, right now, as i say this, i am thanking that i will be receiving what i stated above.

kulang pa yata eh...my wife took her own life.....

akala ko si Ted failon eh...

[tidus1203]

Basta ako I believe in in my golden rule when it comes to money and savings. Its manage your own money. Don't let others do the investing for you. Others are only their to make money out of you and more importantly you are still the best person to do the investing because you are the person who cares most about your money. Kung di ka marunong, then learn. The banks, the insurance companies, the pre-need companies they are there to make money of you. This crisis has further instilled my belief on that, although even before the crisis I already believed in it.

Kaya ako I don't have any insurance policies (only property insurance), no pre-need policies (never believed in this from the beginning)...

[chie07]

You know bakit di ako masyado believe sa mga retirement calculators na yan, there is one thing that is so unpredictable and that is INFLATION. If I am right, inflation will be a huge problem later on because of all the pumping in the system.

But with that said, I do agree savings should be a habit!

There are other ways to beat the inflation. I agree with you that saving should be a habit, but we must be wise enough to know where to put our savings. For short term savings (just to cover our emergency funds), a bank would wtill be the best institution. But for long term savings and investments, there are other credible institutions that can help us out. PM me for further details.

[uls]

like mutual funds?

they kill you with fees

manage your own money

open a brokerage account and bet (i mean invest) your own money

[Lucius]

I'm not even working

[Jun aka Pekto]

If it's just for daily living, me and the wife wouldn't need to work either. But, I need to build up the college funds (and wedding accounts) of two daughters because I'm not as blessed as some people. See below.

Must be nice when the husband* of my wife's cousin inherited his millions and run a DIY computer store strictly as a hobby. He actually lives off the interest of his inheritance. Just the interest alone is much much more than I make in a year. It must be nice. ***SIGH***

What's strange is even though the economic times are hard, his DIY pc store is still breaking even and then some. Must be location.


* He's also our web master during our weekend online family gaming.