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Bureau of Labor Statistics

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la4angus

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The Bureau of Labor Statistics revealed that out of 100 people who start working by age 25, by the age of 65:

1% are wealthy
4% have adequate capital for retirement
3% are still working
63% are dependent on Social Security, friends, relatives, or charity
29% are dead

Conclusion: By age 65, 95% of people are either DEAD, or DEAD BROKE!

Do you know the Number One culprit? SPENDING TOO MUCH MONEY ON THINGS WE DON'T NEED!

Do you know the Number Two culprit? BAD INVESTMENT DECISIONS!

Can you see ways to improve yourself or your life because of this message?

How much time have you REALLY spent thinking about and planning for your retirement?

Think about it!
 

Cattle Rack Rancher

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I was an investment advisor for a few years and I can tell you a few things. The more children you have, the less money you'll have to retire. The fewer children that your parents have, the more money you'll have to retire. Pension plans at work make a huge difference in the longterm comfort that you will have in retirement. Contribute as much as you possibly can. Every teacher and nurse I ever met in Canada have it made when they retire. If you are a young investor, invest in the highest volatility funds that you can stand and when your statement comes in, don't open it, just throw it in a drawer. You can worry about whether the market is up or down when you get closer to retirement. Meet with your investment person once a year to see if they recommend any changes. Watch out for management fees. Index Participation Units are way cheaper than mutual funds in the long run and have about the same performance as mutual funds of equal risk. The difference is that IPU's cut out alot of the broker and management fees. Starting young is key. If you teach your kids that the they need to treat their investment contribution as if it is a mandatory monthly bill, it will give them a good start. Piling in money in your fifties doesn't work nearly as well, because you don't have the time available to ride out the swings of the market.
 

frenchie

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Is,nt it amazing that in this day and age where we have everything,We have nothing. No thought of retirement at all. :)
 

kjerckie

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Many years ago my goal was to retire at 55, sell what I had (renting at the time) get saddle and pack horses and ride the Pacific Crest Trail from Canada to Mexico. Now I have a house, bull, and critters. Not 55 yet, but figure I'll work till I'm 80.
 

J Baxter

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Amen D.R.

I am working my way to the point my farm will be self sufficient and provide me with an income. It is all I ever wanted to do. I'm hoping to be retired as you are in another 10 years and have a modest income.

JB
 

D.R. Cattle

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Don't get me wrong, I'm still working in the produce business to make ends meet for a later date. But I hate grapefruit and I hate working for someone else.
 

J Baxter

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Congratulations Guru D.R.

I imagine that I will continue to work on the side as well, but it will be for myself. I don't mind 16 hour days working for myself as much as I mind a morning at work. It just seems to go by quicker when you are the one in control.....I just need to remind a couple of my cows who is control, they seem to think I'm just the grocery delivery boy at times.

JB
 

D.R. Cattle

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J Baxter":keq6fvik said:
Congratulations Guru D.R.

I imagine that I will continue to work on the side as well, but it will be for myself. I don't mind 16 hour days working for myself as much as I mind a morning at work. It just seems to go by quicker when you are the one in control.....I just need to remind a couple of my cows who is control, they seem to think I'm just the grocery delivery boy at times.

JB

Can't think of anyone who can't relate to that.
 

dun

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Mine also seem to think of me as a travel agent. Anytime I'm out in a pasture that they aren't in they all come to the nearest gate and beller and raise a ruckus cause they want to go to some place new. They may be in grass up to ther bellys, but they've been in that pasture, the new one alwasy looks better. The old "grass is alwasy greener" syndrome

dun
 

eric

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I think alot of guys my age (40) are gonna be in for a rude awakening in a few yrs. I couldnt count the number of guys who have worked for me over the yrs and didn't have a pot to pi$$ in. Most of these guys were skilled machinists making pretty decent money, but come payday, they would cash their checks and it would be gone by the next payday! I bet I can count on one hand the number of times I have actually cashed a paycheck. I've always believed in paying yourself first and live within your means. Dont cash your check and then hope to put some back , put some back first then get some spending money!
It's not like it was with my parents, where you worked for the same company for 30 yrs and the company took care of you when it came time to retire. I dont know of hardly anyone who has worked for the same place more than 10 yrs or so. And even if they did, the company shows no loyalty and they will sell the company right out from under the employees.
 

dun

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eric":8x3clndg said:
I think alot of guys my age (40) are gonna be in for a rude awakening in a few yrs. I couldnt count the number of guys who have worked for me over the yrs and didn't have a pot to pi$$ in. Most of these guys were skilled machinists making pretty decent money, but come payday, they would cash their checks and it would be gone by the next payday! I bet I can count on one hand the number of times I have actually cashed a paycheck. I've always believed in paying yourself first and live within your means. Dont cash your check and then hope to put some back , put some back first then get some spending money!
It's not like it was with my parents, where you worked for the same company for 30 yrs and the company took care of you when it came time to retire. I dont know of hardly anyone who has worked for the same place more than 10 yrs or so. And even if they did, the company shows no loyalty and they will sell the company right out from under the employees.

Sad but true that it isn't just those 40 and below. I know of people that are getting close to 60 that haven't done anything yet. It's alwasy the same story. "I've been meaning to get to it but just haven't had the chance. Gonna have to get to it one of these days". MORONS
Some of our investments have fallen flat and we've lost our donkey on some of them, but with enough diversification we're holding our own. Nothing to squander, but enough to do what we want. Social Security is pretty much a joke so we don't count on it.

dun
 

TheBullLady

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I think the only way you can control your destiny any more is to work independantly. I know a lot of people who have worked for the "big guys" for years, and like mentioned previously, there is no security. They worry daily that someone else will come along and get their job. And a lot of the big companies don't like keeping employees forever.. they are cheaper to replace.
 

txag

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i work for one of the big, bad companies. we have been through a merger and yes, jobs were cut. i have no illusions that it won't happen again. in today's world you can no longer count on a pension. the good thing about the big companies is that they have 401K programs.....they match contributions (& you can contribute pre-tax which lowers your taxable income). these matching contributions are like extra money. they pay very good salaries and then pay extra for anyone who takes advantage of it. surprisingly not everyone does. we also receive bonuses and good dividends on our stock options. they also have good medical insurance programs which can be very expensive if you work independently and have to try to pay for it yourself. working for a big company has some negatives but it also has some really good benefits, too.
 
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la4angus

la4angus

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txag":14wpfb5x said:
i work for one of the big, bad companies. we have been through a merger and yes, jobs were cut. i have no illusions that it won't happen again. in today's world you can no longer count on a pension. the good thing about the big companies is that they have 401K programs.....they match contributions (& you can contribute pre-tax which lowers your taxable income). these matching contributions are like extra money. they pay very good salaries and then pay extra for anyone who takes advantage of it. surprisingly not everyone does. we also receive bonuses and good dividends on our stock options. they also have good medical insurance programs which can be very expensive if you work independently and have to try to pay for it yourself. working for a big company has some negatives but it also has some really good benefits, too.
Well stated, txag.
 

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