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Mega Super Mommy
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Join Date: Mar 2008
Posts: 2,931
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DH got a statement regarding his pension in the mail yesterday - he calculated out to stuff roughly and wrote "pathetic" on it....it was funny. It got me thinking about all the things we are trying to do to retire sooner rather than later.
So I wondered if I could get any ideas from you girls about retirement savings...what does everyone do to save for retirement.
We do our 401k's at work (and put in at least up to the max match our employers will do).
We max out our Roth IRA's each year as well.
We have whole life ins. policies that are building cash value.
We also put some money annually into regular currently taxable mutual funds/money market accounts - but this is a small percentage overall.
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"Children too are a gift from the LORD, the fruit of the womb, a reward." Psalm 127:3
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Platinum Supermommy
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Join Date: Apr 2007
Location: Barbados
Posts: 18,988
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We have similar plans to what you have. We don't call ours the 401ks here but we do something similar.
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Thank you Helen for my beautiful siggy!
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Platinum Supermommy
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Join Date: Jun 2007
Location: Louisiana
Posts: 8,090
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Right now all we have is DH's 401K.. Eventually when we get a bit ahead we want to start a mutual fund and get into putting some money into the stock market!
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Aimee wife to Jeremiah mommy to Adeline Louise
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Platinum Supermommy
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Join Date: Feb 2006
Location: Hagerstown, MD
Posts: 23,058
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We had a 401K but canceled it due to the economy being so unstable. We only made money with it but decided to save in our own home in a safe. Your money isn't actually yours when it sits in the bank. Your money gets loaned all over the place and if something happened to our economy or banking system (like to many other companies in this country) a lot or all of your money could be gone. For example, lets say our bank told us for every 5 thousand you have we'll guarantee you a thousand. Well if you gain enough money in your account you could lose a big chunk of it if something major happens and be no where near as ready as you thought you'd be for retirement. This isn't something I would have worried about years ago but now I do. I guess I've gotten to the point where I want to be in charge of my money and not trust it to anyone else. I tried to explain that the best way I knew how  Sorry if it came out weird or didn't make sense. We do have a checking account open to pay bills online and we do have a savings account but use it only as a vacation fund.
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Platinum Supermommy
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Join Date: Jul 2007
Location: Earth
Posts: 6,570
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We haven't saved for it at all  ! We aren't sure what were doing as far as Chris' future job just yet. His contract is up in 2012 I want him to get out or at least re-class (to what Jen's DH does  ) if he doesn't I think I might just loose my marbles LOL . But he is not sure if he wants to get out just yet. I know excuses, excuses right  !!!
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Platinum Supermommy
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Join Date: Oct 2007
Posts: 8,102
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sounds like u have things under control!
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broken.
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Join Date: Aug 2008
Location: Georgia
Posts: 5,834
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We have a plan through the military and some funds set aside in stocks and IRA's as well.
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My Blog
2006-2012 6 years of NTNP, TTC, TTCMA, Losses, Surgeries, and Diagnoses.
RPL and Genetic Tests came back 100% normal
No known reason for our losses.
50+ cycles of heartbreak, loss, and the hated waiting.
RE Reconsult 4/26-Done
Cycle 52- letrozole, trigger, & DS IUI- ???
Follie Scan 5/21: 1x16mm, 1x7mm, 5x6mm or less
Follie Scan 5/23: 1x21 mm, 1x14mm, 5x7mm or less
Trigger 5/23 10,000 IU
IUI 5/24- count was excellent, perfect timing.
Beta 6/11-?
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Platinum Supermommy
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Join Date: Dec 2006
Location: Chicagoland
Posts: 5,117
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I contribute 5% of my income to my 403(b) - nonprofit equivalent of a 401(k). I also have a money market for savings and an index fund I'm looking to convert into a Roth IRA.
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Platinum Supermommy
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Join Date: Jun 2006
Location: Canada
Posts: 10,199
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We have life insurance through work and independantly. I'm not to sure what else but I think James' work offers other things as well.
It sounds like you guys are doing well.
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Mega Super Mommy
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Join Date: Aug 2008
Location: Western Illinois
Posts: 3,075
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We both have the equivalent of a 401K at our jobs (well, my old job - but it's still there) and we also each have a Roth IRA. We aren't able to max them out with me not working, but we contribute as much as we can and when I go back to work we'll be able to max them out. We also have a 7 month emergency fund that we still add money to every month, we hope to build it to a year and then we'll put that money somewhere else.
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Thank you ~*Helen*~ for my awesome siggy!
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Platinum Supermommy
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Join Date: Dec 2008
Location: Northern VA
Posts: 7,874
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I have a 401k that I contribute to and my job matches a certain percentage.
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Mega Super Mommy
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Join Date: Mar 2008
Posts: 2,931
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Well it sounds like alot of us are doing a good job saving! Yeah girls!!! Lauren...your comment about the emergency fund got me thinking that we probaby need to make our emergency fund bigger....sometimes we just feel too safe and we dip into it for fun stuff - whoops! We do have mutual funds we could dip into in an emergency but I'd hate to trigger a taxable event because we couldn't be diligent enough to keep a good about in a money market fund.....oh well!
__________________
"Children too are a gift from the LORD, the fruit of the womb, a reward." Psalm 127:3
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Platinum Supermommy
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Join Date: Sep 2006
Posts: 10,854
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Dh doesn't do a 401k now that he works for a smaller company. We really need to do something about our savings, right now it's just in a money market account drawing little interest but Dh HATES the stock market and anything associated with it. So I dunno what we'll do. Right now they recommend having a huge amount of emergency money in case of job loss and we do have that, just not much in the way of retirement. Dh says he doesn't ever want to retire b/c he thinks he'd be bored "just sitting at home". We'll see if that changes.
We did finally get to it and get a life insurance policy on Dh.
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Retirement savings
