Comments on: Saving Money for Retirement — 6 Steps to Peace of Mind http://wealthpilgrim.com/saving-money-for-retirement/ WealthPilgrim.com -No Money Worries. No Matter What. Wed, 23 May 2012 12:06:25 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Mary http://wealthpilgrim.com/saving-money-for-retirement/#comment-9701 Mary Thu, 02 Dec 2010 21:19:47 +0000 http://wealthpilgrim.com/?p=16200#comment-9701 I am nearing retirement and how it played for us was 15-20% automatic of gross. 15% was when we were saving for real estate down payments. However at a certain point (40+) we found our lifestyle no longer was on an upward trajectory though our income was. So yes as we approached 45+ we started saving even more - it was just easier. That said I do not think there is any excuse not to save at least 15% - it is just irresponsible. You find a way, your future depends on it. I am nearing retirement and how it played for us was 15-20% automatic of gross. 15% was when we were saving for real estate down payments. However at a certain point (40+) we found our lifestyle no longer was on an upward trajectory though our income was. So yes as we approached 45+ we started saving even more – it was just easier. That said I do not think there is any excuse not to save at least 15% – it is just irresponsible. You find a way, your future depends on it.

]]> By: ChristineWithRegence http://wealthpilgrim.com/saving-money-for-retirement/#comment-8694 ChristineWithRegence Mon, 18 Oct 2010 15:32:30 +0000 http://wealthpilgrim.com/?p=16200#comment-8694 Great tips! For ideas on how you can take charge of your health care costs, check out Whatstherealcost.org. Great tips! For ideas on how you can take charge of your health care costs, check out Whatstherealcost.org.

]]> By: Mary http://wealthpilgrim.com/saving-money-for-retirement/#comment-8623 Mary Fri, 15 Oct 2010 13:02:40 +0000 http://wealthpilgrim.com/?p=16200#comment-8623 The only way to have a decent retirement is to save 15 - 20 percent of your pay every single month of your working life. Forget all other estimates. SS and pensions are going to be decimated in the future so you have to take care of your own retirement. You just have to live on less money, how you do it is curbing your consumer appetite and for young parents you have to curb your parental guilt. Don't worry about where you are going to invest until you have your savings in order. If you can't save you are not exhibiting the financial savvy to invest in the markets. When you have savings then you start considering investing and start with simple financial products. You can't slice and dice a couple of thousand dollars among different asset classes - the fees will eat your savings. Working builds wealth, saving stores wealth, investing protects wealth. You are not going to get rich in the markets, you are simply trying to protect your savings from the ravages of inflation. Right now is a wonderful time to learn how to protect your savings as there is very little inflation and one does not have to take large risks in order to protect savings. The only way to have a decent retirement is to save 15 – 20 percent of your pay every single month of your working life. Forget all other estimates. SS and pensions are going to be decimated in the future so you have to take care of your own retirement. You just have to live on less money, how you do it is curbing your consumer appetite and for young parents you have to curb your parental guilt.

Don’t worry about where you are going to invest until you have your savings in order. If you can’t save you are not exhibiting the financial savvy to invest in the markets. When you have savings then you start considering investing and start with simple financial products.
You can’t slice and dice a couple of thousand dollars among different asset classes – the fees will eat your savings.

Working builds wealth, saving stores wealth, investing protects wealth.

You are not going to get rich in the markets, you are simply trying to protect your savings from the ravages of inflation. Right now is a wonderful time to learn how to protect your savings as there is very little inflation and one does not have to take large risks in order to protect savings.

]]> By: Rich with SFP http://wealthpilgrim.com/saving-money-for-retirement/#comment-8553 Rich with SFP Wed, 13 Oct 2010 02:40:36 +0000 http://wealthpilgrim.com/?p=16200#comment-8553 Speaking as one who is retired, these are all good suggestions. There is nothing worse than getting to retirement and not being prepared! Thanks, Speaking as one who is retired, these are all good suggestions. There is nothing worse than getting to retirement and not being prepared! Thanks,

]]> By: karyn http://wealthpilgrim.com/saving-money-for-retirement/#comment-8454 karyn Tue, 12 Oct 2010 01:19:14 +0000 http://wealthpilgrim.com/?p=16200#comment-8454 I would love to hear your answer on that one. And truly, we're pretty frugal. No cable, old cars (without payments), clothes from thrift stores, etc. Any extra money goes towards kid stuff like homeschooling materials, piano lessons, and such (yes, I know these are extras). It's tight because I'm home with the kids, which is worth it, but I would love suggestions for retirement planning. I do work part time in the evenings when my husband is home. I would love to hear your answer on that one. And truly, we’re pretty frugal. No cable, old cars (without payments), clothes from thrift stores, etc. Any extra money goes towards kid stuff like homeschooling materials, piano lessons, and such (yes, I know these are extras). It’s tight because I’m home with the kids, which is worth it, but I would love suggestions for retirement planning. I do work part time in the evenings when my husband is home.

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