Hedrick Smith Quotes

Our seniors' retirement should never rely on the bull of political promises or the bear of the market.

Money isn't everything, but it is when you start thinking about putting money away for your retirement days.

Since Social Security faces a large gap between what it promises younger workers and what it can afford to pay them, private savings will likely need to play a larger role in retirement planning for younger workers.

With or without a Social Security fix, Americans don't have enough assets to retire on. There has to be a much larger debate.

Anyone with a pension or retirement is an investor in the stock market.

Americans are not saving enough for retirement.

In other words, Social Security is every bit as insecure as the stock market.

Americans living longer than ever must save more than ever.

Never take a loan against your retirement! When you pay interest against your retirement, you cost yourself interest.

It's hard to have any idea of how much money is enough to finance an appropriate lifestyle in retirement. But if a lump sum is translated into a monthly income, it's much easier to determine whether you have enough put away to afford to stop working.

With the duckets that I now have safe, I think I will retire at 66 years of age, praise God, in good health.

If you put nothing away for retirement, I can tell you, to the last penny, how much you will have when you retire: nothing.

The next generation is going to have to understand that Social Security is just one leg of a stool. We need to actually bring back that savings incentive, and the only way you're going to be able to do that is if you have a job.

Everyone thinks about retirement at some point.

You have a short window, you know, and if I plan on living the lifestyle I want, I've got to make a nest egg.

The basic idea of retirement income is, to me, to get a check, two checks every month, one from your fixed income and one from equity account. And you want them to grow over time.

I always tell people, it's never too late to start saving for retirement. It's not that important how much you have already saved. What's important is that you start saving. And save as much as you can. You will be amazed at how quickly it will build up.

The essence of any plan for financing old age is saving-to put aside some part of today's earnings for the future. Anything that saps the value of savings-and inflation is the worst single threat-is the enemy of the aged and of those who expect to grow old.

I, like everybody else, have lost most of my pension plan in this economic crash. So I have to. I'm going to call it I Slept With Everyone On Television.

I'm not a nest-egg person.

If you do not have at least an eight-month emergency fund, and you think there's a probability you could loose your job - and it's not just losing your job; you could be in a car accident, get sick - continue to pay the minimum on your credit card every month. Everything beyond that needs to go to establish an emergency fund. And if you have an emergency fund saved, then fund your retirement account before paying down credit card debt.

Many people focus on the 4 percent rule, which essentially says that as long as you withdraw no more than 4 percent from your retirement accounts each year, the money should last you 30 years.

I can't retire.

What we should be trying to do is to encourage people to establish private retirement accounts and help them take pressure off the Social Security system.

I have no plan to retire anytime soon, although remember I am 50 years old!