Save For Retirement Knowledge Base
Is 18 too young to save for retirement? I don't know if this is adsurd but I really want to save retirement right now.
How do you decide whether to save for retirement (which is tax-deferred) or save for a down payment on a home? Buying a home, even with the downturn in the market, is still the most successful way to invest money. But I don't make enough money to both save for much of a down payment and still put much money aside for retirement. So how do I choose where to put what money I don't need to live on?
What is the best way to save for Retirement for Small Business owner? My husband and I own a small business - what is the best option for both of us to save for retirement and why? We are both in our 20's right now.
How can you save for retirement if you own your own business or make money from home? I am 22.I will soon be making money on my own working from home. I don't know anything about retirement. How much money should I save and what should I put this money into, a CD,a bond? I have no idea about these things. Also, does anyone know at what rate the cost of living rises each year? Is there an equation to determine how much money will be needed for me to retire when I get ready to?
When you live pay check to pay check how can you save for retirement? My employer does not offer 401K plans. When someone has student loans, children, and live paycheck to paycheck, how do they begin to save for retirement?
What is the best way to save for retirement? My job offers no benefits like 401k ect. I need to do something for retirement but I am not sure what is the best way to save. I can only work part time, as I take care of my granddaughter. thanks!!
Should we should save for retirement? My husband and I are in our later thirties. We are planning to settle in Australia or Canada. Both of us do not have any good guidance from any experienced elders regarding anything in life. So far we have not saved a penny for our retirement. Experienced people please guide me on the follwing: 1) If we do not save will the governments of these two places help us in futureafter retirement? 2) Is setting up a parallel income recommemded? 3) What the conditions of old people who have not saved all thier life (will they be provided medical help)? 4) Is it prudent to save monthly, yearly? 5) Do children take care of poor parents? (My husband is currently well off. And we give the best to our parents and children. Will we too be taken care of similarly)? 6) Many parents who are financilally dependent on their children in their later years are insecure and encourage disharmony in thier children's married life. Why?
I want to save for retirement but do not know how? I am in my late 20s and I hear so many people say get an IRA, 401k, try saving with your bank through mutual funds, or CDs but what do I do? I just started a new job and they offer nothing. My last job had 401k and plans were already mapped out so all I had to do was contribute $100 a month. So now I am looking for ways I can save for retirement but with so many choices, and investment companies which company should I choose and once I find one what route should I take. I do not want to be 65 and still have to work 50 hours. I appreciate any help.
If you never save for retirement, what happens to you? How much SHOULD you invest? I'm only 25, but still at my age, I"ve just gone through lots of schooling, and spent all my money on things like housing, car, vacation, etc, all those frivolous things, and I never really saved, I'm n ot a millionaire, and I don't have a 401K or any type of plan yet. I have lots of family friends, and I live with my partner, who has some of those things, but I'm starting to feel like maybe I should already have some sort of a plan. Personally, I just don't think that far in advance, because I could be dead by then, but just HOW important is saving for retirement. Worst case scenario, if you have no plan, money, friends or family by then, will you end up being a homeless senior citizen, where do you technically end up? I'm not familiar with the programs this country has, if any. I'd like to start planning something, however it makes life SO monotone, everything is a plan. work, schooling, shopping, retirement, it takes the FUN out of living. Blah.
What is the best way to save for retirement if I am a stay at home mom. What is a spousal IRA? I quit my job to stay home with my daughter. But i may go back to work some day and would like to use my 401K money to continue saving for retirement in the mean time. What is the best option?
how do i save for retirement when my employment does not offer a retirement plan? i recently started a new job, it's a union job, which has great medical benefits and sick time and paid time off, but it does not offer a retirement plan. what should i be doing to save for retirement?
How much is enough to save for retirement? I'm almost 24 years old and I feel like I'm obsessed with saving for retirement. I think it'd be better if I had an idea of how much I should actually be saving. If I max out an IRA every year from now until I retire at 65, will that be enough to live off of? I need to set a reasonable limit for myself so that I can actually have money to go out and have some fun rather than just sit at home when I'm not at work.
What percentage of my income should i save for retirement savings ? I need to start saving for retirement. Is there a rule of thumb that could get me started.. Like 5% or 10% of my income... I need some basic advice on what to do.
How much to save for retirement? Here's an interesting question for you: I would like to know what percentage of my income to save in order to give me the most similar income in retirement as in my working life. Here are the (I think) important pieces of information you will need to help me answer this question: 1) I will get a 70% company pension when I retire 2) I will retire in 27 years 3) I would like to receive retirement income for 30 years 4) Assume average interest of 3% for any investments
How to save for retirement when self-employed? I am only 22, but I want to start saving for retirement. I am currently self-employed. I don't make alot of money & have no clue where to start. I can only start with $2000-$3000 and for now only add $100 or so a month. What can I do that is low risk?
What is the best way to save money for retirement? I'm under 40, and I'm planning for my retirement. I plan to retire when I'm around 60-65. So, what would be the best way for me to save money till then? Also, I want to save without any risks. I don't want to end up WITHOUT money. ;)
What is the best way to save for my retirement in UK only? I've just had a meeting with my bank's financial advisor about personal pension - who have recommended Standard Life as his choice. I know that the bank only has 6 or 7 pension companies to choose from (all big names incl. Norwich Union, Stanard Life, Prudential, Legal&General, Friends Providence, AXA) but i'm quite happy with going with the big companies. My question is - is pension really the best way to save for my retirement? I have my own Savings account with high interest as well as ISA but wanted something a bit more long term for the REAL future i.e. retirment. If it is, I can then really take his recommendation but if there is other alternatives then I would like to know. Retirement == 65 years for most people so I'm going with that. Also note that I know if my employer contributes, then obvosuly that is the bet choice however they do not. Note, answers that apply in UK only please
what do I need to do to save money to my retirement? I'm 28 years old and I have $1500 in my savings, I have a season work (there are months where I get a lot work and some where I don't work at all). I don't know what to do to start to save for my retirement, any good advices?
How do I save for retirement without help from my employer? I work for a small company with no pension plan or employer matched contributions. I make the max contribution to my IRA each year. What other options are available that have perks like tax savings or others that can help me save for retirment?
What is the best way for me to save for retirement at age 22? I can only start with a few thousand. It needs to be little or no risk. My job offers no retirement plan.
what is the besat way to save for retirement? I would like to retire in 10 years and have no retirement set back so far.
Pay off House or Student loans in next 2 years or take longer & save for retirement? House mortgage is 67,000 at 6.5% interest Student loans is 65,000 @ 8.0% interest Current retirement savings is 40,000 You can take the interest on student loans as a tax deduction on your taxes without itemizing which is a plus I am age 36.
How can International School teachers living abroad save for retirement in the US? If you don't have a typical retirement plan offered by your employer and you are exempt from things like Roth IRAs because you live abroad, how can you invest without getting hurt tax-wise?
How much should I save before retirement? I am 22 years old. Assuming that I plan to retire at age 65, taking into account inflation and assuming I will have an average pension plan from work, how much do you think I should have saved up in order to retire comfortably and with peace of mind. A million? 2? What are your thoughts?
Whats the best way to slowly save for retirement.? Im 30 and i want to start retirement savings. How can i slowly build up savings. Im not good at understanding all kinds of investments I just know i need to start saving but it hard to figure out where to start.
How much should someone save for retirement? I am 23 and plan on retiring at 70 in 2054. I am maxing out my 401a (no 401k, b/c I work for a non-profit). I imagine that I am doing better than many, but I don't think that my 401a will be enough to retire on. How much do I really need to put in extra investments now and later in my working career in other investments like an IRA. Should I contribute as much as I am able to those too?
Should I save for downpayment for a house or invest in retirement? I am wondering, what should I do? I heard the more down payment I put down to a house, the more I save on interest. But retirement is very important too. What should I do? if I only have a small amount of money each month to save.
Should I pay off my student loans before starting to save for retirement? I owe $60000 from college loans. I make $55000 a year and it'll take me about 9 years to pay off my loans. Should I finish paying off my loans before putting money into my 401k?
What is the best way to save for retirement and how does one ensure that he/she will have enough to retire? I am 42 and would like to retire at the age of 60.
Whats the best place to put my extra money to save for retirement? I am 40 , are roth IRA's only good if you are younger. Should I buy some good stocks with it like microsoft. What should I do?
I earn about 65K a year. What is the best way to save for retirement? I am only 32, but need to start saving now.
what is the best way to save for retirement and where should I invest? I invest in rrsp's but I am not happy with their returns. I am wondering what I should be investing in since I will not be retiring for 30 more years. There are so many options and I am looking for something with good growth potential but not too much risk.
Where to save for early retirement? I'm almost 24 and I've saved about $20000 for retirement in my TSP and Roth IRA. Although my income isn't that high, I can easily save at least $10000/year, and I plan to save more than that as my income increases. I think that I may want to retire early, but with the TSP and Roth, I have to be 59 1/2 to make withdrawals. What type of account can I save in that will let me have access to some money sooner?
At what age is it appropriate to save for retirement ? I'm 21... I have a chequing account, saving account but i don't know what kind of funds would the best one.Any ideas?? I'll have my degree in 2 years so...When is it a good time to start?? At what age you started ??
Can I use my IRA retirement account money for surgery? I am planning on having surgery out of the country, since the surgery in US is too expensive, I am thinking to use the money I had saved in my retirement account( IRA) . Can I use this money without paying a penalty? Since is for health reasons. Does it matter that the surgery will be performed in another country?
Is there an online checklist to help you save up for retirement? I am getting married soon and we are using wedalert.com to make it easier, but I was wondering if there was some sort of checklist site that will help me to save up for retierment or just to have extra money for emergencies. Something to help me be more financialy secure.
What is the best retirement option for someone that wants to save on his own? I am a foster parent and I get paid by my agency through a per diem. That means the money I get paid is tax free. And since I don't have a full time job, I don't have a retirement plan. I want to start saving for the future. Can any one help?
What is the best way to save for retirement? I am 33 years old. I make too much money to have an IRA. I have about $60k in a savings account. I don't know much about investing. What would be good for me?
What is the best way to save or invest for retirement? I am a Realtor with no retirement benefits.... what is the smartest investment. I am 30 years old.
What is a smart way to save your money for retirement or even a rainy day? Hello, I am 31 years old and have had a 401K for over 6 years now, where I've been putting in 10% of each paycheck. I also have a little over $2K in a Roth IRA, but it has been effective for about 5 years now and hasn't seemed to make that much money. Lastly, I try to put away at least $500 a month in a savings account that has 4% interest for a rainy day (this has been going on for the past 6 months. Not sure if I can keep up with the $500 a month forever). Above all, I am very frugal with money and I would rather put it away than go on a huge shopping spree every weekend (once in a while I will go out and buy something for my house or myself, but I am careful to make sure that is not an outrageous purchase and doesn't happen very often) I want to know what else is out there for me to do to save my money smartly? I am not that crazy about stocks because I am a conservative investor, but can someone fill me in on some other good ideas? Bonds? Mutual Funds? How do I set those up?
Getting Education Degree: If I take a loan of 60,000 will earn 40,000: How will I save for retirement? Oops! I forgot to mention I am a graduate student getting M.Ed in school counseling with an undergrad degree in psych. did all of this so that insensative people like superbad who needed a good role model as a child don't grow up to unappreciative of knowledge!
How can I convince my young adult children to buy life insurance and save for their retirement? Too often I see people have deaths in their families and then they have to ask others for the money to bury them and also the surviving spouse and children have to find a way to get that income replaced.
What the best way to save for early retirement? I'm in my early 20's and I wanting to retire as early as possible say between 40 and 45. I know its a bit of a stretch but it could be done. Should I put all that i can into my 401k and IRA or should I put most in an account where there isn't any penalty for withdrawals since i would be retiring any where form 14 to 19 years before i start withdrawing from my 401k and IRA. If so what kind of account should i look into?
What is the best way to save money for retirement? My job doesn't offer a 401(k) but I would really like to start one is it possible to do it independently?
Save for retirement or house down payment? I'm 25, married, with combined income of $120,000 in southern CA. Should I contribute money to my company's 401k (I don't need to contribute anything to recieve full employer contribution), my ROTH IRA, or save for a down payment on a house?
How do I get my Finances in order? My husband and I want to save for our retirement. dont know where to begin? My husband I want to save for the future but we can barely pay the bills and have food on the table. My husband is great with money but me on the other hand, I am horrible with money. I want to buy everything, buy things when i dont really need them, and i Could not tell you which bills are due when. we recently had a check bounce on our account and I know it was my fault but husband wont say it is. How can we be on the same page and save money? Please HELP
Should we save for retirement? My husband and I are in our later thirties. We are planning to settle in Australia or Canada. Both of us do not have any good guidance from any experienced elders regarding anything in life. So far we have not saved a penny for our retirement. Experienced people please guide me on the follwing: 1) If we do not save will the governments of these two places help us in futureafter retirement? 2) Is setting up a parallel income recommemded? 3) What the conditions of old people who have not saved all thier life (will they be provided medical help)? 4) Is it prudent to save monthly, yearly? 5) Do children take care of poor parents? (My husband is currently well off. And we give the best to our parents and children. Will we too be taken care of similarly)? 6) Many parents who are financilally dependent on their children in their later years are insecure and encourage disharmony in thier children's married life. Why?
Should a young couple save money in retirement accounts or stock money in an emergency fund.? A question for all of you advisers & planners out there... Should a 24 year old couple save money in a retirement account (after normal 401k contributions) like a Roth IRA or use that money to invest in a safe money market account to get to the 3-6 month level of savings financial professionals say you need in case of an emergency. One other thing to note is that this couple has principal currently sitting in Roths > 5 years, so money can be withdrawn from the Roths tax & penalty-free in case of an emergency. I may be answering my own question, but I wanted to get other perspectives on this issue.
Should I open a Roth IRA at 22, or is there a better way to save my money for retirement? I've just graduated college and started my first full-time job a couple months ago. Lately I've been reading articles about Roth IRA's and how young people should consider them because they can save a huge amount of money by the time they retire with the smallest amount of input (since they're getting started earlier). I know I'm still young, but I want to set myself up for a comfortable future. I'm making $35k/year salary, but my company does not have a 401K plan (as of yet). I would like to try putting away $250 a month in order to create a nest egg for when I retire (and maybe allow myself to retire a little earlier?). Is a Roth IRA the way to go, or is there something better I could do with my money to allow it to increase over the years? I don't know much about this stuff and don't even know where to start. I do know that IRAs have something to do with investments, which is risky and scares me a little...
John wants to save for his retirement, which will occur 30 years from now, by depositing monthly into an accou John wants to save for his retirement, which will occur 30 years from now, by depositing monthly into an account earning 8% interest compounded monthly. His goal is to be able to draw $30,000 each year during a 40 year retirement. How much should John save each month? a.$200.00 b.$220.03 c.$240.03 d.$260.03
What is better a retirement plan or a 401K plan? Is there a difference and how much should I save a month? Do you know a good place to start when your employer is not doing retirement because you do not have enough hours? I dont feel like Social Security will be around when I get to the age to draw. That will be like in 2040 something.
Do you save enough for retirement? Since we cannot rely on Social Security (especially since Bush wants to privatize it) are you saving enough for retirement? - do you put in the max amount in your 401K? - do you have a Roth IRA or some type of investment on your own?
At what age do most people begin saving for retirement? My husband and I are both 30 years old, and we just started saving this year. We are only able to save $250 each month in a Target Retirement mutual fund. Our goal is to save 15% of our gross income each month (but right now, we are only saving about 10%). Will we have enough money when we retire? I don't want to be 80 years old, looking for a job at Walmart because we didn't save enough. My husband is in the military, so we should also be getting a pension at the end of 20 years in service. I certainly hope that social security, a pension and our Target Retirement mutual fund are enough to keep us out of the poor house!
Bad idea to save 10% of your income for retirement? I am low middle class income and I have to tighten my belt quite a lot to save 10% of my income for retirement. Most americans only save 1% for income. When I retire, I may have a lot of money, but apparently most americans will not. Which means I may be taxed heavily to pay for thier welfare and special programs. I know my Roth IRA is not supposed to be taxed again...BUT they have 30 years to change the rules and it could get taxed! Is there a way to ensure to my nest egg pays out to only myself when I am retired? Thanks!
What do you save for first - home or retirement? I'm a working college student - working my butt off, to be precise, so I don't have any debt. I want to buy a house in the next year or so. I'm already 26, and I know I should have a retirement account - but getting your hands on a piece of real estate is a really important investment, too. My plan so far has been to put every dollar into savings for a down payment to get the house ASAP - ignoring starting a retirement account for now. But I also know that time is on your side as far as retirement investing- when money is tight and you're aiming to buy a house, how do you decide?
For parents with 3 or more children: do you save for retirement? Or are you counting on having your children take care of yu in old age?
By law, do you have to save for retirement? In Australia, we have what is called Superannuation. The company you work for contributes 6% of your salary into a fund. This grows and you are not allowed to touch it until you are at the retirement age of 55-60 years old. Hopefully, you will then have enough to live off your superannuation. Is is the same in other countries?
How much should I be aiming to save for my retirement? I've worked out that if I continue saving at my present rate I'll have about £250,000 in cash not including my house and other things, is that enough? should I be doing more? anything you can recommend is greatly appreciated thank you :)
Retirement? I make around 35.000 dolars a year, I'm married but my husband is graduate students so no money from him! We are 30 years old and we need to start saving for retirement too. What should we do? How can we save for retirement and live ok? Thanks for all the help you can give me.
retirement? been thinking, how much would some one need to save for retirement living in the wild... like at camp, only going to the city for yearly supplies.. and in retirement for about 30 years? ok... what i mean by living in the wild i mean no internet, no electricity at all....and a tent no.. i mean like a cabin, woodstove, no cell phone, car, running water even.. all no.. just like they use to live way back in the day, like 1800s but in the forest on a lake (and i know the land prices are expensive in the places i would like to build) sorry forgot to mention, im about 20, single, no kids.. no plans in having kids.. possibly marriage.. i have a passion for photography and camping deep in the forest... im talking about the bare minimum you need in life.. small home, living dependently off my self and nature entirely
Retirement? I'm a 25 year old female who has not even came close to saving for retirement..... I have just recently got my credit cards paid off so fortunately i have a few extra dollars to save. I would like to know the best way to increase my money in the long run?
Should I buy a house or save for retirement? I'll be eligible for the company 401(k) plan soon. I want to make the maximum allowable contribution and start a Roth IRA which I also plan to fund fully. I have 10k in my bank account and I'm adding about 2k to that each month, but my retirement plans will negatively impact my savings rate. I moved out of my first house last year which I'm renting out for a small profit, and I'm currently residing in an area colloquially known as "Da Hood". My rent is $500 / month and set to increase by 3% at the end of my lease in March. If I buy a home in a respectable neighborhood, my living expenses would increase substantially. Should I wait and save more money or go house hunting? I have zero retirement savings and I'll be 30 in just a few short years. I don't see the purpose of renting in a better neighborhood. Right now, my living expenses are very low and my biggest inconvenience is driving across town to do my grocery shopping.
Save money? retirement plan? Hi, im a 23 year old army soldier whos serving in iraq. I have been very bad with my money but thats gonna have to change because im getting married when i go on leave. Im thinking about putting money away, like a retirement plan or something. Can anyone name programs that i can do to start saving up now? Thanks
How to Save for Retirement With Unearned Income? I am a graduate student, and I exist on a stipend from my university that covers my living expenses (I do not pay for tuition, I do not receive a W2). I pay taxes on the stipend, although they are not withheld. Since this is not earned income, I can't put any of it in a Roth IRA as I would like. So, what would you recommend as the next best option for saving for retirement? I would rather not wait until I receive my PhD in 5 + years to start saving, especially since at the moment I have few expenses and no family to support.
I want to save for retirement, help!? I'm 35 y/o and have $0 saved for retirement. What would be the best way to get up to speed? I clear about $1,200.00 and spent about $800.00 paying bills, etc.
What is the best way to save for retirement if I am a stay at home mom. What is a spousal IRA? I quit my job to stay home with my daughter. But i may go back to work some day and would like to use my 401K money to continue saving for retirement in the mean time. What is the best option?
Save for retirement or buy a condo? I'm interested in getting some opinions on this. I'm 37 years old and don't plan to retire for at least 20 years. Over the past few years I've been able to contribute between $700 & $900 monthly on a pre-tax basis to my employer's retirement savings plan. My contributions are currently invested in approximately 75% stocks and 25% bonds. One of the reasons I can contribute so much is that I rent an apartment with 2 other people and so the rent is VERY cheap. Now I'm considering buying a condo here in San Diego (I can't afford a house), but in order to afford the mortgage I will pretty much have to stop contributing to the retirement savings plan. So my dilemma is, what will be most beneficial to me in the long run: continuing to contribute large amounts to my retirement savings plan, or purchasing a condo now in this buyer's market? If more information is needed let me know and I'll be happy to add more details. Having my roommates move into the condo with me was considered and rejected for several reasons. First, I think we've all had about enough of each other. Second, I would then need to buy a 2- or 3-bedroom place instead of the 1-bedroom for just myself. And finally, doing this would put me in a "landlord" type role where I would need to collect rent, address complaints, find a new tenant if someone moved out, etc. All-in-all, I just decided it was too much of a hassle to manage with such a long-term commitment.
how can I save for retirement?.? I am in Canada, and I have some savings. I own a home, but work for myself. My spouse works as well. We want to travel now and not wait until retirement.,while our health is good. Retirement is a scary thought as income decreases. I would like help to figure this out so we can live without fear.
Attempting to save for retirement? I don't know a lot about investing. I don't have a lot of money to start with. But, I was wondering what is a good way for a person in their late twenties to invest for retirement? I know that you take the chance of losing money, but what's a good way with not losing a lot along the way?
what can i do to save for retirement!!! PLEASE SERIOUS ANSWERS? i am 26 years old and i have a job that i have been at for almost a yr........but they dont offer retirement. i know i can use a life insurance plan that builds cash value but i only will have about 35 dollars to put back for it every month. and i dont think at my age i will be able to get a policy that will cover what i will need on 35 dollars a month. does anyone have any suggestions?
I am 28, Emt, how do I save for Retirement? I guess age is catching up with me and I have realized I have nothing for retirement. My company doesn't offer 401k, so what do I do? I have tried to look this up myself but i'm just puzzled when it comes to stocks, bonds, IRA's.. thanks!
I want to start saving for retirement.....................................? I want to start saving. I would like to open some kind of Bank CD account or maybe an IRA account but i want to be able to keep track of the account but i dont want to be able to get any kind of money out of it untill im at least 40 and i want to be able to put money in as i get it. Is there a bank that i can set up a savings account tell them not to give me acces till im 40 and only make deposits not withdraws? if so what banks or do you have any other ideas i checked out doing a 401K or 403B account and i dont really think thats what im looking for. THank you. Also anybody ever bank with INGdirect.com?
British Government Tells Us To Save For Your Retirement.....? I have heard this several times over the last few years. The British Government says that we need to save towards our retirement! But that's ok for the lucky people that have a well paid job. They can afford to do this. But some people are on the minimum wage (this has advantages as well as disadvantages) and can hardly afford to live a moderately comfortable life. They pay quite a bit in tax and N.I., and the end result is a pay packet that is not very liveable in today’s living standards. And we are then asked to start saving towards a retirement. How can we? Answers appreciated How can you reduce your outgoing when your incomings are that poor that you cannot afford to save for your retirement. That was the point of the question. If you have very little money coming in and these are being swallowed up by expensive standards-how can you afford to save?
Do you save for retirement? I don't because I retire every night. What about you?
Best way to save for retirement? Im 28? Should i use 401k or IRA of other?
Do these verses mean that Christians should not save for retirement? "Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moth and rust do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also." Matt. 6:19-21 What does this mean, if it does not indicate that saving money is non-Christian? ^v^ ^v^ ^v^ ^v^ ^v^ ^v^ ^v^ ^v^ ^v^ ^v^ ^v^ ^v^ ^v^ ^v^ ^v^ ^v^ I'll let the community pick the best answer here. ^v^ ^v^ ^v^ ^v^ ^v^ ^v^ ^v^ ^v^
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