Comments on: When is the right time to start saving for retirement?

By: Planning ahead for our baby’s education

Planning ahead for our baby’s education — Wed, 18 Aug 2010 19:16:06 +0000

[…] philosophy for retirement savings has been similar. We each have a Roth IRA, and we contribute as much as we can each year. Right […]

By: Andrew

Andrew — Wed, 14 Jan 2009 18:43:41 +0000

I'm 24 and started saving for retirement right out of college. The sooner you start the better. Since you don't have an employer match right now, set a small goal for your Roth IRA and go after your debt with a vengeance. Right now I do the following: 4% matched into employer 457 plan, maintain emergency fund, $5,000 into Roth IRA, budget some money for fun and anything left over goes into the wife's Roth. Andrew’s last blog post..Shared Google Reader Items

By: We’re saving for retirement! | Frugal Living Tips & Money Saving Ideas | Living Well on Less

Sat, 10 Jan 2009 17:05:41 +0000

[…] week, I questioned when we should start saving for retirement. I got a lot of great advice from readers (thanks!). After talking it through and doing our own […]

By: MrsMoney

MrsMoney — Sat, 10 Jan 2009 00:51:49 +0000

I started saving for retirement when I got my first "real job" at the bank. I don't regret it at all, but it certainly has taken a hit, just like everyone else's. I was 21 when I started saving for retirement. I think you would be fine if you wait a few more years, but then again, now is the time to invest supposedly. It's such a tough decision! Good luck! MrsMoney’s last blog post..My Free Living Room Makeover

By: Melanie

Melanie — Thu, 08 Jan 2009 15:52:25 +0000

Hi there
Look at what your interest rates on your debts are. If you are paying more than what you could make on your retirement savings then you are best to pay off your debt first. i.e. if you are paying 12% in interest on your debt but only making 6% on your retirement investment then it doesn’t make any sense to pay into your retirement fund without paying off the debt first.
However – start saving a little (even if it is just $50 a month) – this gets you into the HABIT of saving (which is more important than how much you invest).
Good luck!

By: momstheword

momstheword — Thu, 08 Jan 2009 01:21:52 +0000

Sorry, I meant to say it's "www.paidtwice.com" that is doing the finance panel! momstheword’s last blog post..BUILDING A FRIENDSHIP WITH YOUR SPOUSE

By: momstheword

momstheword — Thu, 08 Jan 2009 00:55:30 +0000

Sorry, it didn't come out right. I said Lynnae at "beingfrugal.net" is doing a post thing on where you can email your finance questions, etc. to a panel. momstheword’s last blog post..BUILDING A FRIENDSHIP WITH YOUR SPOUSE

By: momstheword

momstheword — Thu, 08 Jan 2009 00:53:42 +0000

I thought you might like to know that Lynnae at "beingfrugal.net" ing a thing where you can email any questions to a panel of people who do frugal blogs or finances or something. This might be a great way to get some good answers. I don't know how you're doing on your grocery budget (and I'm not trying to be to personal here so please don't think you have to tell me), but have you seen some of those great blogs out there where people are feeding their families on $60 a week (and there are families, not a couple). You can find some on my sidebar under frugal sites. I am hoping to save some money out of our grocery budget. momstheword’s last blog post..BUILDING A FRIENDSHIP WITH YOUR SPOUSE

By: Deni

Deni — Wed, 07 Jan 2009 21:21:10 +0000

I think Megan has a great idea by using a calculator to really see the numbers in black and white. You can’t argue with facts.

For us, it would be putting $50 a month in an IRA while paying down debt… or 4 years later rolling what we were paying on debt into and IRA and putting several THOUSAND dollars a month away for retirement. Once that was fully funded – we build wealth. Although this is a long way down the road.

By: Kacie

Kacie — Wed, 07 Jan 2009 19:24:29 +0000

Are you familiar with Dave Ramsey? I forget. Anyway, I think he would say since you're n ot getting an employer match, to just keep on going as you are and get out of debt first and then hit your retirement accounts hard. But then again, if you want to send $25-50 to an IRA each month, that might pay off, especially while the market is down. I like the suggestion of running the numbers to get an idea of what such contributions could potentially turn into by your retirement age. For us, Shane is contributing a tiny bit more than his company's full match. It's not enough right now, but we want to get our car paid off first. Then, we'll increase retirement savings, start Johnny's 529, and start saving for a house. Kacie’s last blog post..I have a cold, ugh. And some link love