tag:blogger.com,1999:blog-3414772750326477532.post1094955469363745245..comments2011-12-13T17:16:37.459-05:00Comments on Saving and the Single Girl: Baby-stepping toward retirementsavingandthesinglegirlhttp://www.blogger.com/profile/06524591099459423712noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3414772750326477532.post-76918864997095893552011-03-14T21:16:39.803-04:002011-03-14T21:16:39.803-04:00Seriously scary. And with the state of Social Secu...Seriously scary. And with the state of Social Security, we have to assume that won't be kicking in as much as it does for retirees today. It's sad when you start to panic about 30 years from now...savingandthesinglegirlhttps://www.blogger.com/profile/06524591099459423712noreply@blogger.comtag:blogger.com,1999:blog-3414772750326477532.post-55543924287366213292011-03-14T18:56:28.298-04:002011-03-14T18:56:28.298-04:00Watching Suze Orman has put me into a despression ...Watching Suze Orman has put me into a despression - apparently even if you have $750,000 in your 401K, no debt, $40,000 in cash and savings and are turning 60, retirement is NOT an option. Suze told her caller that because her social security did not kick in yet and because the income tax she would have to pay on her 401K withdrawls - that she would run out of money before she turned 75!! Could welfare be a better, less stress-filled way of life??Jenean Gabberthttps://www.blogger.com/profile/07145159409115653330noreply@blogger.comtag:blogger.com,1999:blog-3414772750326477532.post-41358928366972488692011-03-14T14:40:03.890-04:002011-03-14T14:40:03.890-04:00That was very wise! I'm hoping to do something...That was very wise! I'm hoping to do something similar going forward.savingandthesinglegirlhttps://www.blogger.com/profile/06524591099459423712noreply@blogger.comtag:blogger.com,1999:blog-3414772750326477532.post-87932344709616019912011-03-14T00:20:45.796-04:002011-03-14T00:20:45.796-04:00One thing that I did early on in my career was to ...One thing that I did early on in my career was to increase my 401k contributions by the raise amount every time I received a raise. This did several things - increased my 401k (and matching) contributions, kept additionl money out of my pockets (I didn't miss it because I never had it) and kept my taxable income lower (401k contributions are not included as taxable income to the IRS (form 1040)).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3414772750326477532.post-24807199471869348522011-03-09T21:59:14.236-05:002011-03-09T21:59:14.236-05:00Yeah, I've had a couple friends/coworkers who ...Yeah, I've had a couple friends/coworkers who seem horrifed that I'm not up to the full 6% in my 401(k). I guess one of the benefits of being single and childless is that I don't have to shell out for daycare, diapers, and college tuition. At least I'm hoping that means I'll have a chance to catch up ... so I won't spend my 80s subsisting on cat food.savingandthesinglegirlhttps://www.blogger.com/profile/06524591099459423712noreply@blogger.comtag:blogger.com,1999:blog-3414772750326477532.post-17790230436929898082011-03-09T21:11:27.028-05:002011-03-09T21:11:27.028-05:00Well, I know I wasn't one of the law school fr...Well, I know I wasn't one of the law school friends because my retirement plan is "win the lottery". I had a professor in college that had a 5 year plan - starting at 16, put $1000 a year in an IRA and you'll have a million dollars when you retire. Well, considering I was 21 at the time, I was already hosed. I also do not take full advantage of my company's 401(k) match, but I can't afford it right now. My company does provide me a pension that is company paid for and I earn interest and years-of-service credit - that's completely free money and at least it is something. I need to start looking at other things, but I need to take baby steps too.Denisenoreply@blogger.com