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(CNN)   American workers spend more time planning their vacations every year than they do for retirement   (money.cnn.com ) divider line
    More: Stupid, Charles Schwab, time use research, electronic trading, investment advisors, retirees  
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613 clicks; posted to Business » on 19 Aug 2014 at 5:38 PM (1 year ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



111 Comments     (+0 »)
 
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2014-08-19 01:53:41 PM  
They're doing it right. I'd rather take lots of vacations in my 20s to 40s than in my 60s since I figure I'll pop at 70.
 
2014-08-19 01:54:46 PM  
Duh, you don't retire every year.
 
2014-08-19 02:46:57 PM  
I don't know how much planning is required for "work until I die."

Rich people's problems, not mine.
 
2014-08-19 03:30:02 PM  
What are these "vacations" you speak of?
 
2014-08-19 04:07:03 PM  
Choosing the right mix of stocks, bonds and other investments for your age is one of the best ways to ensure you'll have enough money for retirement.

Or, you know, we could just do it like Europe, and most of the rest of the civilized world does it, and provide a retirement for all workers.
 
2014-08-19 05:28:06 PM  
Hahaha!  When I was a stockbroker, this was one of the lines they pushed us to say to every "prospect" we met.

"You know Bob, most people spend more time planning their vacations than they do planning for their retirement.  Let's sit down at my office next week and take a look at that old 401K plan you've got sitting over at COMPANY X."

/And if that didn't work, we were taught to guilt them in to not planning for their child's college education:

"So, have you heard about these 529 Plans yet?"
 
2014-08-19 05:44:18 PM  

Lando Lincoln: I don't know how much planning is required for "work until I die."

Rich people's problems, not mine.


Pretty much this. I could conceivably had a decent retirement but I'm not willing to give my kid the middle finger when it comes to going to college. My retirement will be my kid getting a PhD. I plan on kicking off shortly after that.
 
2014-08-19 05:44:49 PM  
That's easy, why bother planning for something you'll never get to do compared to something you might get to do?
 
2014-08-19 05:47:50 PM  
Does CNN expect everyone to be day traders?
 
2014-08-19 05:56:39 PM  
So, not at all?
 
2014-08-19 06:01:56 PM  

12349876: Does CNN expect everyone to be day traders?


Yes.
 
2014-08-19 06:08:41 PM  
No shiat.  We get vacations still.  Retirement is a pipe dream
 
2014-08-19 06:14:10 PM  

Monkeyhouse Zendo: Lando Lincoln: I don't know how much planning is required for "work until I die."

Rich people's problems, not mine.

Pretty much this. I could conceivably had a decent retirement but I'm not willing to give my kid the middle finger when it comes to going to college. My retirement will be my kid getting a PhD. I plan on kicking off shortly after that.


Because leeching off your kid when (if) he gets his PhD is a far more ethical goal?
 
2014-08-19 06:16:34 PM  

12349876: Does CNN expect everyone to be day traders?


Here:

http://www.bogleheads.org/wiki/Three-fund_portfolio

If you do what this says up to the first row of graphics, you will have a comfortable retirement.  You're welcome.
 
2014-08-19 06:19:36 PM  
If you are offered $50 now or $200 at the end of three years which would you choose?

The second option makes the most objective sense, just most people will choose the first.
 
2014-08-19 06:29:02 PM  
Subby must not be American, otherwise he'd know that we can no longer afford to retire.

Why waste time planning something that won't ever happen?
 
2014-08-19 06:32:22 PM  
What's a vacation ?
 
2014-08-19 06:45:36 PM  

AngryDragon: Monkeyhouse Zendo: Lando Lincoln: I don't know how much planning is required for "work until I die."

Rich people's problems, not mine.

Pretty much this. I could conceivably had a decent retirement but I'm not willing to give my kid the middle finger when it comes to going to college. My retirement will be my kid getting a PhD. I plan on kicking off shortly after that.

Because leeching off your kid when (if) he gets his PhD is a far more ethical goal?


Well, no, he'll be dead.

The good part is with graduate stipends the kid'll be more or less self-supporting during grad school.
 
2014-08-19 06:46:25 PM  

twistofsin: Subby must not be American, otherwise he'd know that we can no longer afford to retire.

Why waste time planning something that won't ever happen?


Even if you can retire, there is nothing stupid about enjoying and living the life you have right now.

The only thing stupid here is subby eluding to the enjoyment of living life today being somehow secondary to planning how it will end.

It's not an unpopular stupidity. Our nation continues to lean towards it and it's why we don't have time off anymore, and even on vacation we take our work with us.
 

A bird in the hand is better than two in the bush. The same goes for the happy moments of your life.
 
2014-08-19 06:51:37 PM  
I just read another article that we don't even take vacations because we are scared to.

/Off to Puerto Vallarta from mid December to mid January !!!
 
2014-08-19 06:55:57 PM  

Prophet of Loss: If you are offered $50 now or $200 at the end of three years which would you choose?

The second option makes the most objective sense, just most people will choose the first.


A more apt analogy would be: If you were offered $50 now or $500 at the end of three decades which would you choose?

And neither makes more objective sense than the other. There are many logical paths that can be reasoned that would put each choice ahead of the other.
 
2014-08-19 07:02:13 PM  

MurphyMurphy: Prophet of Loss: If you are offered $50 now or $200 at the end of three years which would you choose?

The second option makes the most objective sense, just most people will choose the first.

A more apt analogy would be: If you were offered $50 now or $500 at the end of three decades which would you choose?

And neither makes more objective sense than the other. There are many logical paths that can be reasoned that would put each choice ahead of the other.


Who is this guy handing out $50 at a time? I need to have a "discssion" with him.
 
2014-08-19 07:03:11 PM  

listernine: MurphyMurphy: Prophet of Loss: If you are offered $50 now or $200 at the end of three years which would you choose?

The second option makes the most objective sense, just most people will choose the first.

A more apt analogy would be: If you were offered $50 now or $500 at the end of three decades which would you choose?

And neither makes more objective sense than the other. There are many logical paths that can be reasoned that would put each choice ahead of the other.

Who is this guy handing out $50 at a time? I need to have a "discssion" with him.


"discussion", even.
 
2014-08-19 07:03:53 PM  

Prophet of Loss: If you are offered $50 now or $200 at the end of three years which would you choose?

The second option makes the most objective sense, just most people will choose the first.


I'd choose the $50 since neither option amounts to more than a couple of months of free spending money.  If you were to offer $500 now and $20,000 at the end of three years that would seriously alter my considerations.
 
2014-08-19 07:09:07 PM  

MurphyMurphy: Prophet of Loss: If you are offered $50 now or $200 at the end of three years which would you choose?

The second option makes the most objective sense, just most people will choose the first.

A more apt analogy would be: If you were offered $50 now or $500 at the end of three decades which would you choose?

And neither makes more objective sense than the other. There are many logical paths that can be reasoned that would put each choice ahead of the other.


Missing out on opportunity costs.  Sure, you'd have to have a 100% RoR on the first amount, and the second amount is a more reasonable 7.97%... but you never know.   $50 in scratchers today may be a bigger payoff than waiting.

And I'm saying this from experience.  I'm an 'advisor' for mass-affluent (poor) people, and our largest account is the Wal-Mart account.
 
2014-08-19 07:37:21 PM  
Why yes, I do spend more than zero minutes planning vacations.
 
2014-08-19 07:54:39 PM  
If you set up your retirement funds right, you really shouldn't have to do much active management of the funds. In fact, you'll probably shoot yourself in the foot if you try to time the market instead of doing an index fund.
 
2014-08-19 07:57:05 PM  
Because vacations are happening right then, in the here and now.  Retirement is something off in a distant future that may not occur.
 
2014-08-19 07:58:10 PM  
goddamit where's my $50 dollars.
 
2014-08-19 07:59:20 PM  
My retirement plan is to move to some 3rd whole hell hole and set myself up as El Jefe de Gordito
 
2014-08-19 08:02:41 PM  
I max out my 403b and IRA every year. Not sure what else to do.
 
2014-08-19 08:06:51 PM  

Mad_Radhu: If you set up your retirement funds right, you really shouldn't have to do much active management of the funds. In fact, you'll probably shoot yourself in the foot if you try to time the market instead of doing an index fund.


That's what I was thinking. I give maybe ten minutes a month of thought to my retirement: basically enough to read my monthly statement.  My contributions are set up as an automatic deduction and I'm not going to mess around with my funds for at least probably 8 more years.  I don't know why the average person would need to spend much time at all thinking about retirement once they have an account up and running.
 
2014-08-19 08:06:56 PM  

Grand_Moff_Joseph: Choosing the right mix of stocks, bonds and other investments for your age is one of the best ways to ensure you'll have enough money for retirement.

Or, you know, we could just do it like Europe, and most of the rest of the civilized world does it, and provide a retirement for all workers.


Pshaw. This is America, son. You put your retirement at the mercy of the market which will probably crash twice before you retire, or you're a godless communist. Oh, and don't forget your brokers' fees!
 
2014-08-19 08:21:32 PM  

AngryDragon: 12349876: Does CNN expect everyone to be day traders?

Here:

http://www.bogleheads.org/wiki/Three-fund_portfolio

If you do what this says up to the first row of graphics, you will have a comfortable retirement.  You're welcome.


Step 1: Be Rich
Step 2: Don't Be Poor
Step 3: Comfortably Retire
 
2014-08-19 08:27:26 PM  
Why is that "stupid?" We'll actually get vacations - we won't get retirement. Unless you're making enough money to put aside to establish an actual retirement, what's the point in planning? The lowest-paid quartile of this country can barely eat, never mind "plan for retirement." The next quartile can't put aside enough money to fatten a savings account, never mind put enough away in a 401(k), IRA, etc. on which to live. So, yeah, at least 50% of the population isn't actively planning for retirement. What a surprise!
 
2014-08-19 08:30:31 PM  
So people spend more time planning vacations. In most cases, planning it is all most people can do. Actually getting to go on one is an entirely different story. It's not even so much the expense as the fact that it's held up as some kind of bizarre virtue here to neglect every portion of your life except the part beholden to your corporate overlord.
 
2014-08-19 08:32:15 PM  

Grand_Moff_Joseph: Or, you know, we could just do it like Europe, and most of the rest of the civilized world does it, and provide a retirement for all workers.


What's next, feeding people just because they are hungry and we can afford it? How will that ever teach them the value of inheriting a farm?
 
2014-08-19 08:36:59 PM  

Mad_Radhu: If you set up your retirement funds right, you really shouldn't have to do much active management of the funds. In fact, you'll probably shoot yourself in the foot if you try to time the market instead of doing an index fund.


Indeed. If you could beat the market, you'd already have the kind of job where retirement isn't a worry. Find a diversified strategy with as few fees as possible, set it and forget it.
 
2014-08-19 08:41:00 PM  
What's retirement?
 
2014-08-19 08:44:29 PM  
Why spend time planning for retirement? Pick a few low-fee index funds, put money in them. I'm young and don't mind the risk, so I stay away from bonds. I also don't mess with it.

I spent more time on the toilet today than I spent planning my retirement this year. I'll still be fine.
 
2014-08-19 08:48:36 PM  
Retirement is a concept that has had its day.
 
2014-08-19 08:55:24 PM  

Nuclear Monk: AngryDragon: 12349876: Does CNN expect everyone to be day traders?

Here:

http://www.bogleheads.org/wiki/Three-fund_portfolio

If you do what this says up to the first row of graphics, you will have a comfortable retirement.  You're welcome.

Step 1: Be Rich
Step 2: Don't Be Poor
Step 3: Comfortably Retire


If only the 0Bummer Tax-O-Crats would let us!

i.imgur.com
 
2014-08-19 09:29:17 PM  

Lando Lincoln: I don't know how much planning is required for "work until I die."

Rich people's problems, not mine.


Yep. The bottom 50% that's under 50 will never retire unless they *really* like cat food.
 
2014-08-19 09:33:22 PM  

Prophet of Loss: Nuclear Monk: AngryDragon: 12349876: Does CNN expect everyone to be day traders?

Here:

http://www.bogleheads.org/wiki/Three-fund_portfolio

If you do what this says up to the first row of graphics, you will have a comfortable retirement.  You're welcome.

Step 1: Be Rich
Step 2: Don't Be Poor
Step 3: Comfortably Retire

If only the 0Bummer Tax-O-Crats would let us!

[i.imgur.com image 850x560]


Where the fark is this from?
 
2014-08-19 09:36:37 PM  

jayphat: Prophet of Loss: Nuclear Monk: AngryDragon: 12349876: Does CNN expect everyone to be day traders?

Here:

http://www.bogleheads.org/wiki/Three-fund_portfolio

If you do what this says up to the first row of graphics, you will have a comfortable retirement.  You're welcome.

Step 1: Be Rich
Step 2: Don't Be Poor
Step 3: Comfortably Retire

If only the 0Bummer Tax-O-Crats would let us!

[i.imgur.com image 850x560]

Where the fark is this from?


Fantasyland I would assume.  Wages like that don't exist anywhere but a few shiathole huge cities with no horses.
 
2014-08-19 09:53:52 PM  

ajgeek: Lando Lincoln: I don't know how much planning is required for "work until I die."

Rich people's problems, not mine.

Yep. The bottom 50% that's under 50 will never retire unless they *really* like cat food.


My retirement plan is "drop dead at age 67" (they bumped the retirement age up from 65 north of the 49th).

My career plans are currently "spin my wheels while waiting for the Boomers to hurry up and die."  The thing about socialised medicine is that even though the Boomers were irresponsible farkwits and can't afford to retire, the healthcare they get in this country means they'll be in the workforce for decades to come, while everyone else gets stuck on the promotion ladder behind them.
 
2014-08-19 09:56:22 PM  

jayphat: Prophet of Loss: Nuclear Monk: AngryDragon: 12349876: Does CNN expect everyone to be day traders?

Here:

http://www.bogleheads.org/wiki/Three-fund_portfolio

If you do what this says up to the first row of graphics, you will have a comfortable retirement.  You're welcome.

Step 1: Be Rich
Step 2: Don't Be Poor
Step 3: Comfortably Retire

If only the 0Bummer Tax-O-Crats would let us!

[i.imgur.com image 850x560]

Where the fark is this from?


Originally from a Forbes article I think. Its been a Fark Favorite(tm) for a while.
 
2014-08-19 10:05:41 PM  
That's because those under 40 might actually get vacations. We ain't getting to retire, though. Wal-Mart greeter, here I come.
 
2014-08-19 10:07:08 PM  

untaken_name: That's because those under 40 might actually get vacations. We ain't getting to retire, though. Wal-Mart greeter, here I come.


Didn't you get the retirement memo? They got rid of greeters a while back.
 
2014-08-19 10:10:39 PM  

DubyaHater: I max out my 403b and IRA every year. Not sure what else to do.


First, you're doing it right. Pat yourself on the back.

I'll assume you have no debt (other than perhaps a mortgage). If you do, pay it off! You'll get no better return on your money, anywhere.

Got kids? CESAs and 529s are your next step. Start socking away some tax advantaged money for college.

Start dumping money into an interest earning account until you get at least six months of expenses.

Got a house? Buy a house. No one ever got wealthy renting.

After all that, buy yourself something nice. You earned it.
 
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