What Are You Doing To Prepare For Retirement?

Apostanator

I'm curious as to what some of you are doing to prepare for retirement. Some people have 401k's, others buy Real Estate, Some have many children in hopes that they will take care of them when they get old. So i'm wondering what some of you are doing now to prepare.

Sad emo

I've got pension funds but at the rate the UK is increasing the retirement age I'm probably gonna be dead before I even get chance to retire

unclebruce

I slaved in the city for enough years to buy a cheap block in the country. Now I'll build a big house out of wood and stone. It'll be way too big for me but I can always sell and move to Texas or Oregon

serendipity

Financially, I pay my bills rather than carry credit card debt. I had it drilled into my head to "keep my eye simple" so that it's fairly easy to sock away 20% of my income in 401K and Roth IRs, which are invested in mutual funds and ETFs. I have a frozen company pension (it only earns interest, no more employer contributions). Any money I get from my home sale or exercise of underwater stock options will be put in an account and invested in mutual funds and ETFs. My car is paid off this year, so that money will be channelled likewise. I used to put my annual salary increases in the 401K, but my employer limits the %. So this year, I will save the raise and build my emergency fund.

I'm also taking good care of my health to minimize medical, dental expenses later.

I've started to research places to live, and when I go on vacation, I check out areas to see if I like it. I'm seriously considering relocating to the Northwest and may buy a piece of property next year.

Edited to add: I'm sending my daughter to college to ensure she gets a good paying job. I've also let her know that I plan to move in with her and her family in the event I'm too poor to live on my own. She's 17, so that's not a very appealing prospect. I'm sure she'll get over it when she realizes that a built in babysitter is a good thing.

Elsewhere

I've got several 401k's, IRA's and a pension. I currently contribute at least 11% of my gross income to my current 401k (with matching up to a certain point by my employer). In addition to this I save at least 10% of my gross income in a money market account and other investments.

I've been saving in a 401k since I was 24 or 25.

Basically I work off the assumption that I will get no Social Security benefits and nothing from my biological family since they are all in the WTS cult and shun me.

My plan is to be 100% self-sufficient and non-reliant on anyone other than myself. I've been burned by relying on other people too many times.

garybuss

My retirement plan was always to die young. That's not working out. I think I'll buy lottery tickets. I have to hit a big one . . . right? The greeters at Wal Mart all seem happy. That and my $250 a month Social Security and I can develop a taste for canned dog food . . . I'll be fine.

whyamihere

I would say in a few years...I can really start planning.

Right now, it is to die early.

Brooke

damselfly

It seems to leaping up at me very quickly.

So far I have nothing saved and I mean nothing, I think I have less then $10 in my account.

That's why I am in school, I need a job that will pay more than my day-to-day expenses so I can put something away for my old age. I definetly don't expect anyone to take care of me, I always look out for myself.

Dams

blondie

Excellent retirement plan (not a private company)

Social security

Real estate

Deferred compensation through work (less taxes)

Move to a state without income tax (the only way you can escape federal income tax is to die)

Savings/investments

We know retirees that were careful not to rack up debt and can live on $600 a month.

Blondie

Honesty

Scheming to hack into the WTBT$'s bank accounts.

What Are You Doing To Prepare For Retirement?

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