[Anonymous]

Just curious the annual amount? Is that amount a percentage of income or a flat amount?

[smyoung0521]

I started back late to the game since I just got back in the working world at 35. I currently work state which has a plan where you get 60% of your last salary at retirement and they automatically take 10% of salary. They also have an additional plan to save. Right now I do a tiny (2%) percent to that as well but in about a year I hope to increase that. We are saving up to sell/buy a new home right now and want more money for down payment. At some point though I am going to have to figure out if I plan to stay state (great benefits, pay?) or whether I want to go public/private. Question, does anyone save outside of their employment such as Roth IRA or just IRA?

Restarting my journey!
Using Rogers and supplementing with Ninja

[MintsRGood]

I contribute 15% and my firm matches 4%. I put money into a Roth monthly also and will max it out at year end time if I'm short. My husband does the same at his job too. We don't want to be poor when we are old or have to work until we are 90 to retire!!!! I'm 30 and he is 32. We sucked it up and paid off our student loans ASAP a few years ago. aside for the mortgage we are debt free so we make savings and retirement savings a priority! When I was paying off my student loans however I put in 6% and got my 4% match. It's so important to contribute something, even if its small!!! 🙂

REG: 75 DONE 🙂
AUD: 61, 71, 68, 92 DONE 🙂
BEC: 76 DONE 🙂
FAR: 72, 74, 79 DONE 🙂
Licensed Michigan CPA 🙂
-Some people dream of success...others wake up and work hard for it!!!
-The cowards never start and the weak die along the way!
-You better work, b***h!
-Only those who dare to fail greatly can ever achieve greatly.-JFK

[Anonymous]

My job doesn't have benefits period, so I have no employer-sponsored savings plans. At the moment, I don't have an IRA etc (except for a tiny one of my last job, where I had benefits, but had to be 21 to qualify and left not long after turning 21…), but I'm not sure I want one. I'd far rather save it and have access to it, able to invest it as I see fit. I'm considering buying a run-down house, fixing it up, and renting it out – I anticipate at least making a 10% return on my investment, and that's if things don't go well…you can't get that in any IRA!

However, for now, I am saving money. By providing care to elderly relatives, I'm able to have very few bills since their house is paid off and they insist on paying the utilities etc., so I currently save about 50% of my net check, and if I manage to get a raise (my hourly pay is single digits…), I'll put most or all of it towards savings. I have plenty enough saved to start an IRA etc., but right now I don't think that's the best way to save money for myself.

[Anonymous]

Retirement? That's like 30 or 40 years from now. That sounds like a job for future 3CPA to handle.

3CPA

[Author]

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