Spinoff to post about debt/401k?

Do you think you are in a good place for retirement right now? Are you saving aggressively?

I think we are in good shape. We save very aggressively, maxing out employer matches.

Message edited 9/21/2007 4:17:17 PM.

Re: Spinoff to post about debt/401k?

No, terrible shape. DH is self employed, I am the sole employee for the company I work for we have no provisions for a 401 k from work etc. I know we should do one ourselves but so far we have not...

We keep thinking we are going to hit lotto!!! but thats not going to happen.

Its on my list of things to do...

Re: Spinoff to post about debt/401k?

We're in a pretty good place right now, but since we are extremely aggressively invested in junk bonds that could change at any moment. However since that's what DH's firm invests in and he's looking at them all the time, we are pretty confident in our strategy right now.

.

Message edited 1/8/2008 11:27:19 AM.

Re: Spinoff to post about debt/401k?

We're not ready for retirement financially. DH has a retirement fund (NOT the 401K) that we tap more often than we'd like. We both have 401Ks but the amount in mine iin only 25% above my salary.

Re: Spinoff to post about debt/401k?

We're in a great place for retirement. Actually, my DH and I have arguments about this all the time....I think we're saving too much for the future and not living enough for now. KWIM?

Re: Spinoff to post about debt/401k?

Re: Spinoff to post about debt/401k?

Message edited 11/24/2007 4:07:07 PM.

Re: Spinoff to post about debt/401k?

No. We just got yet another mortgage increase due to escrow shortage, and I'm still paying student loans. The way I figure it, I'll be working until the day I die anyway, so what am I saving for???

Re: Spinoff to post about debt/401k?

We will both get pensions and I have a 401K from my old job. Plus, we both contribute a little bit more to our retirement. We should be ok. Probably better than we are now.

Re: Spinoff to post about debt/401k?

ahhh... NO...

And what upsets me more is we haven't begun saving for Cailen's future yet. Another new years resolution!

Re: Spinoff to post about debt/401k?

we are in a pretty good position. i read recently that you should have 4x your salary in retirement by 35. we don't have that in specific retirement accounts, but in investments. Although I want more to go into retirement, since Dh is always fantasizing about selling something so he can buy a toy or something...LOL...btu I guess I do the same thing fantasizing a new bathroom!

I think by 55 it was 15x you salary - thats a scary number!!!

Re: Spinoff to post about debt/401k?

I'm a teacher with a pension and 403(b). Ideally I'd like to put more into that, but now's not the time. DH also has a 403(b)- he puts in 3% and his school puts in 9%, which is pretty nice. I feel secure about retiring, at least.

Message edited 9/22/2007 9:07:44 AM.

Re: Spinoff to post about debt/401k?

Both of us save really well. We have nice sized retirement accounts, as in 401-k's, as well money invested in stocks, as well as our own money market savings accounts.

Re: Spinoff to post about debt/401k?

Our retirement savings are very healthy, it's the now that could use some help

Re: Spinoff to post about debt/401k?

ETS: Ditto for the above. We have a good retirement plan and savings, just always need a little more to have fun with.

Message edited 9/22/2007 11:21:13 AM.

Re: Spinoff to post about debt/401k?

We are in a great place, although I could contribute more. My DH maxed his out years ago and keeps contributing the max every year. I only do half the max but I also have the child care taken out of my check pre-taxed. I also will get a pension when I retire and SS for the years I worked in NY(CA teachers don't pay SS).
So overall I think we are in a good place.

Re: Spinoff to post about debt/401k?

I'm still really young, but I'm in an OK place so far. As long as we keep up the pace we are going now.

I don't have 401K, but I do have profit sharing, so I don't have to put any money in. And, I'm fully vested. So we have a decent amount.