Have you been able to put away any money for retirement?

@kykidd (6812)
United States
January 8, 2011 3:00pm CST
Have you been able to put away any money for retirement? I was just curious how many people have a retirement fund. I would like to start something, I do have rentals, but that is not even enough to live on now, let alone when I retire. But it is a start. What about you? Do you have a 401K plan? What about an IRA? Any suggestions for someone who would like to start saving for retirement?
3 people like this
8 responses
@sweet_pea (3322)
• Philippines
4 Feb 11
My husband and I invested on insurance, pension and educational plans. We are also contemplating on taking a memorial plan. The maturity value is not that big but I think it is sufficient to sustain me in my retirement. Rather than spending on gadgets that depreciate fast, we spend it in premiums. We work, save and invest while we're able so we can live comfortably when we reach the golden years. But it is also important to enjoy life right now.
1 person likes this
@kykidd (6812)
• United States
6 Feb 11
I love it that the people here on myLot really have great plans and ideas on money and being thrifty. I think that there are so many intelligent people here, that really get what life's all about. They also are hard working people who are willing to go the extra mile to get ahead in life. Thanks for responding in this discussion Sweet Pea and good luck to you and your husband. I am sure that you will retire well!
@sweet_pea (3322)
• Philippines
7 Feb 11
Thanks kykidd! Mylot is a good venue for sharing things. We also learn from the experiences of other Mylotters here. It is not really about getting ahead in life that I am concerned of but more of securing the future of my kiddo. Life is just so uncertain. I want to make sure, that in the event something happens to me and my husband, my child is not left empty-handed. I am not being pessimistic. I just want to be prepared.
• Pamplona, Spain
19 Jan 11
Hiya kykidd, Money for retirement no I have had to spend it on my Kids to help them get other things that they needed and to be able to rent a House as I had to sell my own House twice now. But I don´t let it worry me too much at the moment I am past all that. I did worry a lot about it but not now. I know I should worry about it but unless I have something saved a good amount there is nothing I can do about not being able to invest in anything at the moment. Hope you find yours though. Good luck now. xxx
@kykidd (6812)
• United States
3 Feb 11
Thanks for the good luck wishes lovinangelsinstead21. I really hope that I can come up with something new in the near future. I do have some bonds that I received for doing something online. They are 30 year bonds, and I don't even think about them, although there are only about 4 of them. I haven't looked at them in a while, but I either have $100 or $200 worth of them. I wish you and your family the best of luck and Thanks for posting in this discussion. Have a great day!
• Pamplona, Spain
3 Feb 11
Hiya kykidd, Something is better than nothing eh? At least you have got something to start with. I am not the only one in this kind of situation I was just talking to someone from Valencia who is in the same boat more or less. He cannot find work anywhere at the moment and therefore you cannot save either although you want to you can´t as you have to keep taking out the money out of your precious savings. Thanks for the good wishes though I appreciate that too. Take care now.
@buggles64 (2709)
• United States
8 Jan 11
I can't even think about retirement right now. I have to focus on creating some money first, so I will be able to put a budget together and then I will think about retirement.
1 person likes this
@kykidd (6812)
• United States
8 Jan 11
Sad to say in this day and age, buggles64, that is true for so many people. I hope that you will find the opportunity that you are seeking, and that you will soon not only have a creative budget but also be able to get ahead in life. Thank you for your response in this discussion, and good luck to you and yours!
@buggles64 (2709)
• United States
8 Jan 11
Thank you for such a thoughtful reply :) I will get there I am sure, it just takes a little time.
1 person likes this
• Philippines
3 Feb 11
I do have a pension plan, which I pay every quarter.. I would get the face amount + dividends when I reach 50. I guess that would also be the time for me to retire and live comfortably (hopefully!). I think saving is really important, as you should always think about your future.
@kykidd (6812)
• United States
6 Feb 11
Wow, to be able to retire at the age of 50. That would be excellent. I am so happy to hear that you have been saving for retirement and you have a great plan. Congratulations to you Ingkingdereders and thank you for responding in this discussion. Have a great day!
@bounce58 (17385)
• Canada
8 Jan 11
I have something saved up. It's been sitting there for a while now. Although it is not that much, it gives me a peace of mind that there is something in the future. Even though I contribute to it regularly, its value was greatly depreciate in the past two years. Still I continue. I recommend that you start something. Even if it's just for your peace of mind.
1 person likes this
@kykidd (6812)
• United States
9 Jan 11
That's a great idea bounce. I believe a lot of people have lost quite a bit in the retirement funds, especially if they were in the stock market, the last couple of years. I am sure it will go back up in the near future, although it may take a few years to get back to the point that it was. Good luck to you and thank you for your response in this discussion. Have a great day!
• United States
8 Jan 11
Plan all you want, but a steady monthly deposit into a retirement account is an easy way to save for retirement. Planning is great, but so many things come up in life that end up costing more than you expected. The easiest way to live better during retirement is to be completely debt free. Usually if you go through life saving on interest payments you will have alot of money by the time you are to old to work.
@kykidd (6812)
• United States
9 Jan 11
Great advice fixerupper. I like the idea of having an IRA or some other type of retirement account. Listening to financial advisors, they will tell you the same thing. Stay out of debt, and put at least 15 percent of your income in a retirement plan. Thanks for responding here in this discussion about retirement savings and have a wonderful day!
@calajane (1003)
• Poland
8 Jan 11
I'm 25 and until recently, I haven't thought about a retirement plan. But ever since deciding to become a freelancer, I started to seriously consider putting away some percentage of my money for my retirement. Sure, first I need to pay all my debts, but once that's done, I will start saving up. I really don't want to end up like my parents who have very little money once all the bills are paid.
@kykidd (6812)
• United States
9 Jan 11
It's great that you are thinking about retirement at such a young age. I agree whole-heartedly. When I get older, I most certainly do not want to live on such a fixed income that I am unable to travel and enjoy my Golden Years. Thanks calajane for responding in this discussion. Have a great day!
@gloryacam (5540)
• Philippines
7 Feb 11
It's not much, but I've started to set aside something for my retirement. But I intend to do more about it. I've read that it is very important to prepare for the future, and I intend to have a rocking retirement when that time comes. I'd like to go to a lot of places and do all the things I'm too tired to do now because of work. I'd also like to save a little for my parents because I know they've not prepared for retirement.