Retirement - save now or work until you die?
March 13, 2009 2:33pm CST
I just found out yesterday that a co-worker does not have one single cent saved for retirement. I found this odd but also sad. My husband and I don't have millions of dollars saved for our retirement but we don't think that just depending on Social Security payments will be enough for us. So we put aside as much as we possibly can every year hoping that when we will be able to retire at some point in time. We don't want to work the same amount of hours and days until the day we die. We'd like to have some time off to travel and enjoy our "golden years". So what do you think? Do you think it's better to spend now and live in the moment? Or is it better to spend a bit less to put away for the future? I'd love to hear your opinions!
13 Mar 09
unfortunately, i am sure that this will not be uncommon in the years to come. heck, most of us find it hard enough to live day to day, let alone put money aside for the future! fortunately for us, one job that hubby lost came with a big payout package which we quickly invested and we cannot touch it til we are 65, so that will definitely help! i will be still crafting and writing, so i will be making some money!
13 Mar 09
It's always a good idea to plan for the future. Right now most of my paycheck goes to daycare, so I don't have much to put aside for retirement. Once my daughter is 10 and can take the bus to and from school, and my son is in grade 1, daycare costs will be minimal, so I could start saving more then. That will be about 2 years from now. Also, I look at the fact that our house is an investment and one day we could sell that and move to a smaller home - thus freeing up the money we invested in our home and using it once we are retired for travelling, etc.