Yes....but not of my own doing! I have a 401K from my employer (and one from my last employer). I just got a financial planner and he's helping me with retirement planning because I'm freaking clueless. I'm 36 and should have done this a long time ago!
Yes....but not of my own doing! I have a 401K from my employer (and one from my last employer). I just got a financial planner and he's helping me with retirement planning because I'm freaking clueless. I'm 36 and should have done this a long time ago!
I was thinking of getting a financial planner in January when I'm out of my apt and have much more disposable income. My employer doesn't offer 401k. I feel so behind!!!
No. I have a little bit saved (around 4 years of my base salary) in stocks, but my retirement plan is kind of a mess. I turn 35 this year, so I'm starting to get a little nervous.
I have a tiny bit back in a 401K in the US, along with a tiny bit in a Roth IRA (it's pretty much impossible to qualify for a Roth contributions when you live in a HCOL country). Since moving overseas I ended up with 6 years of contributions into the company's international pension plan, which won't amount to much, and now I'm paying into the Norwegian social security system. With everything spread around so much, it's hard to know how much I really have, and bouncing between pension systems means that I won't get much of a payout in the end.
I have a 401k that my employer automatically set up. You have 14 days from your start date to opt out. I didn't. It hasn't even been two years yet and I'm already contributing at 10%, will be fully vested next year.
Post by starburst604 on Jul 30, 2014 9:17:55 GMT -5
I do have a 401k with employer matching but I don't save nearly as much as as I should. In a year from now we should be in much better financial shape and we both will start putting in the 10%. Possibly more since we both need to play catchup.
Yep. We set up a 401k a year into my first job out of college, so I've been contributing since then. For a awhile I was only contributing up to what was being matched, but now I contribute up to the annual limit. I'm 33.
This is very interesting to me because it's what I do. One of the hardest things is to get people to think of the future when they're young and commit to retirement savings. I think everyone should save even a little from an early age. The difference of saving in your twenties vs starting in your thirties is astounding. If a 20 yr old started saving less than $100 a month by age 65 they'd have $1 million. Most people eventually ratchet that savings up and will have much more.
I've got a 401k that I began when I was 25 that is almost 6 figures now. It makes me feel very happy knowing I'm saving for my future.
I've also got a college savings account for P that I started when he was born.
Post by WinterIsComing on Jul 30, 2014 10:36:14 GMT -5
Yes, I have a Roth IRA and a 401k. STBXH and I got a little late start on retirements savings but had been aggressively saving for the last couple years so I am in a pretty good place. Even after paying STBXH part of my 401k in the divorce, I will still have about 1.3 times my salary (I'm 31).
Yes, I have a 403b from my previous employer. I will set something up (probably a 401k) when I get a new job. I have about 1 year of income saved so far, which is a little behind at 32 but I'm hopeful not so far behind that it will be an issue.
I hope to start regular contributions to an IRA within the next year, too, but we'll see. A lot of things have to fall into place (and I have to start being more disciplined) for that to be a realistic goal. I could probably put a little in each month now but I don't.
Not near enough... I'm going to be working the rest of my life :/
Ummm... Unless you win the lottery!!! (Which is always my GoTo when I start freakin out a bit.. Maybe It would help of I actually bought a ticket every now & then- heh:) )
All these answers are very reassuring compared to the answers on this topic on the MM board. I am 32 and have 1.5-2 years of annual income in a ROTH and SIMPLE plan (kind of like a 401k but for small businesses)
I loooove looking at my retirement accounts and thinking about when I'll never have to work again, LOL. I've saved a minimum of 10% of my paycheck into 401Ks and Roths since I graduated college.
Me too!! I look at the balances growing and picture myself sitting on the beach not working. I just wish it wasn't 35 years away, lol!
I loooove looking at my retirement accounts and thinking about when I'll never have to work again, LOL. I've saved a minimum of 10% of my paycheck into 401Ks and Roths since I graduated college.
Me too!! I look at the balances growing and picture myself sitting on the beach not working. I just wish it wasn't 35 years away, lol!
Me too -- I set up mental milestones every 50k or so and get so excited when I cross them. I picture retirement houses and travel
Post by stephreloaded on Jul 30, 2014 14:07:54 GMT -5
I do but the system works different where I live.
I have a pretty sweet deal though. Here the employee contributes a minimum amount and the employer another %. My company not only pays the employer amount but also pays mine so I don't have to fork over any money for my retirement. I should contributing more though.
Not near enough... I'm going to be working the rest of my life :/
Ummm... Unless you win the lottery!!! (Which is always my GoTo when I start freakin out a bit.. Maybe It would help of I actually bought a ticket every now & then- heh:) )
Haha I do get a lotto ticket every couple months! I'm hoping my $1 will turn into millions so I can quit my job, and hopefully live a comfortable life lol
This is very interesting to me because it's what I do. One of the hardest things is to get people to think of the future when they're young and commit to retirement savings. I think everyone should save even a little from an early age. The difference of saving in your twenties vs starting in your thirties is astounding. If a 20 yr old started saving less than $100 a month by age 65 they'd have $1 million. Most people eventually ratchet that savings up and will have much more.
I've got a 401k that I began when I was 25 that is almost 6 figures now. It makes me feel very happy knowing I'm saving for my future.
I've also got a college savings account for P that I started when he was born.
I'm always reminding myself, "It's better to be broke in your 20s (and 30s) than in your 60s and 70s!"
I started working at my company when I was 23 and have ALWAYS contributed up to the company match. I remember the first time I met with one of the financial planners, he had all these fancy laminated charts and projections, and none of them had my retirement year on them. LOL
And a few years ago, when the gov't offered Roth 401ks, I jumped on that so fast. 70% of my retirement account is post-tax. The idea is that I pay taxes on it NOW, in a fairly low tax bracket, rather than when I retire in (hopefully) a higher tax bracket.
I feel like I'm so far behind with retirement savings that I'll never catch up. I'm 34 and the only money going into my 403(b) is the 2% non elective portion my employer contributes. My history with money has never been good and when you add college and law school (with law school paid for 100% by loans) into the mix I'll have to work after I'm dead. It's pretty depressing, actually. Each year I think my raise will help when all it does is get absorbed into the increase in my student loan payment. Some days I feel like I need finance/savings boot camp for dummies.
I do. I've been contributing to 401ks since I started working at 22 and I've always contributed the max so it's a nice chunk of change. I also have some other investments that are not specifically for retirement but assuming I have no need for them by then, they'll go towards retirement as well. My goal is to retire at 50 and my current plan will get me there.
I do. I started saving for retirement when I was a teen with my first job. But I haven't saved much in the past 10 years. I'm hoping my real estate purchases will make up for the past decade.