Quote:
Originally Posted by Lon
Sounds good Paula, as long as the projected total will make you happy when you retire. Speaking for myself, I saved/invested never less than 10% of my gross income (before taxes) from age 27 to age 56. That worked for me.
"Cars" reply post on savings:
To start saving at a young age is the way to go like Lon said. However, when you're young, "retirement" is one of the last things on your mind. And saving for it is very difficult, especially when there are so many expensive pressing current needs.
I myself foolishly did not start saving subsataitially until I was about 35, before then only a meager 2% of my salary. As my feelings when I was in my 20's was that I never was going to reach "55", much less "retitement" age. I don't know why, it was as I said, it just was a foolish thing! (Here I am newly retired, it really does sneak up on you when you're not looking!)
Anyway, thank God my new bride at the time (I got married at 33) convinced me to start savings for the future, as well as "OUR retirement". I increased my payroll savings plan percentage, and began participating in my companies 401K plan. (About 25 years ago) Now as I mentioned previously, being "newly retired" between my pension, SS, & my "401K" we are very comfortable!
SO AGAIN, START SAVING (IRA or 401K) EARLY LIKE YOUR COMFORTABLE LIFE DEPENDS ON IT. "IT DOES"
Cars :driving:
