save for retirement

The goal of saving for retirement always includes the question “How much is enough?” I’ve read that one should save at least 15% of salary (each pay period). That includes any company match. But depending on a person’s age and whether they put off saving for retirement, that percentage could be much higher.

Regardless, the IRS allows you to save up to $15,500 per year on a before-tax basis (that’s my goal). If your’e age 50+, you can save an additional $5K (or $20,500 ea. year).

I did read this weekend that right now is a good time to roll over traditional IRAs to Roth IRAs, because the market is down so far and your tax burden may be significantly less…so I’m going to research that in the next few weeks, hopefully. If I can roll my IRA (leftover from an old job) into a Roth IRA, I’ll at least have investments that are both pretax and post tax.

And of course, we’ve got to get something set up for my husband, too.

So, I have started.
The thing is, the goal really can’t be finished until I am retired and living off the funds.

I am still going to check this off.

1 million is the minimum for my golden years to be decently comfortable. all things considered, my plan is to start saving for my retirement by the time i hit thirty. only a few more years to go!

I have a 5-yr plan that I’ve been sticking to for about a year now. By time I turn 31, I want to start investing in my retirement. Social in-security will probably be gone by time I need it. Right now, we are drowning in credit card debt and auto loans. Its hard to pay things down with the way the economy is right now. Good luck to everyone else with this goal!

I have opened a RRSP and will be making monthly investments to it! Yay me! I am 21 right now and should have a nice comfertable savings by the time I am 45.

I hate the idea of not being ready for retirement. I didn’t start focusing on saving until I was about 33 so my bottom line isn’t where I want it to be. I don’t have any faith in Social Security; at this time I’m treating it like it’ll be a nice surprise if it’s still around in 30 years to help me out. That means that my comfort during my twilight years is all on me. If I liked the idea of feeling like a burden when I’m old, my retirement plan would be to move in with my only child. Hmph…

I “pay myself first” by using auto-deposit into savings. Embracing the minimalist lifestyle helps me meet all my financial obligations. Working 2 jobs helps the bottom-line and also gives me less time to spend money.

And I still play. I love to sail and dive. And I enjoy “nights out.” This is money that could be saved, but I don’t want to wake up one day and find I’m too feeble to enjoy life. ;)

I need to figure out how to balance paying the debt and saving for retirement, our current recession demonstrates that there is much to be said for saving.

I would like to have a comfort zone when i do retier

I want to be able to ride my bicycle across America when I retire. That takes money. I shall start saving now.