Comments on: Young People All But Ignore Planning for Retirement

By: clep exams

clep exams — Thu, 18 Dec 2008 22:35:50 +0000

great article. I will bookmark this

By: 27YEAR OLD

27YEAR OLD — Wed, 02 Jul 2008 17:43:28 +0000

I stumbled upon this blog article and I am appalled at the way young people are viewed. It is tough out there to *max* out our 401k. the article should have shown the average income for 25* year olds and probably discussed how we can’t afford health insurance, let alone retirement savings! I make 38k per year and after my 10% 401k contribustion, I also pay taxes and insurance which equal to be 3.5 times what my 401k contribution is. Add rent, utilities and other living expenses & 20 somethings have their work cut out for them. I haven’t seen a raise in 3 years, neither have any of my co-workers. the market and economics are changing drastically everyday.

By: retirement-planning » Blog Archive » Advisors Falling Short on Retirement Income Planning: Register Rep Mag

Sat, 08 Sep 2007 15:22:33 +0000

[...] Though the vast majority of eligible baby boomers participate in their 401(k)s, less than a third of workers 25 and under are contributing to these employer sponsored retirement plans. Even worse, only 4% of young workers are maxing out … …more [...]

By: SavingDiva

SavingDiva — Wed, 13 Jun 2007 20:14:02 +0000

I agree that there should be education for young people. Even if you start saving 5% of your income into a RothIRA at 15 with your first paycheck, you’ll never get used to having the money there and it will be a lot easier to keep it up as your income increases.

By: SmartInvestor

SmartInvestor — Tue, 29 May 2007 09:36:00 +0000

I thought I was seriously behind. I’m 24 years old. I make 65K/year. I put 8% of my salary into my 401K plan (have about 20K). I manage my retirement constantly. So far, since I started investing I been making greater than 20% return. I always stay on top of the market. But I also have 20K in student loans and 5K in credit cards. Sometimes paying that debt seems difficult. But is good to know that I’m not alone.

By: Personal Finance and Investing Blog » Blog Archive » Weekly Blog Roundup, Mother’s Day Edition

Sun, 13 May 2007 14:23:49 +0000

[...] Young People All But Ignore Planning for Retirement JLP from All Financial Matters quotes an MSN article which in turn quotes a Hewitt study describing how the young’uns just aren’t putting enough away for retirement. [...]

By: » Weekly Blog Roundup, Mother’s Day Edition on Consumerism Commentary: A Personal Finance Blog

Sun, 13 May 2007 13:14:46 +0000

By: Financial Planning for Generation Next » financial zen

Financial Planning for Generation Next » financial zen — Thu, 10 May 2007 22:34:46 +0000

[...] JLP at AllFinancialMatters has written about Young People All But Ignore Planning for Retirement. It’s quite distressing when you actually see the numbers presented. [...]

By: MSN Money Cries Wolf Over Young Adults and 401(k)s | Online Savings Blog

MSN Money Cries Wolf Over Young Adults and 401(k)s | Online Savings Blog — Thu, 10 May 2007 00:54:49 +0000

[...] Young adults all but ignore 401(k)s, IRAs (via AllFinancialMatters) Several recent studies say the vast majority of young workers are failing to sign up for myriad tax-advantaged accounts, potentially leaving hundreds if not thousands of dollars of benefits on the table. [...]

By: Miguel

Miguel — Tue, 08 May 2007 17:50:12 +0000

@ Wanda – BTW, I’m a liberal arts graduate too. So, basically I went into thousands in debt to graduate with a major many people would call “utterly useless” especially since I never even pursued a career in my major.

Yet, I would describe myself as a financial overachiever – in the 99th percentile by age 40 on any measure you care to analyze.

Not saying that my way is the right way, just saying that there really is no “right” way.

I believe that you have to constantly look at the hand you’re dealt, and then figure out how to play to your strengths and mitigate your weaknesses. Simple – and yet not so simple. Because that leaves many potential permutations of choices and avenues depending on who you are, where you are, and what your priorities are.