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Old 09-06-2006, 09:11 AM   #1
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Planning for Retirement, how much is enough?

How much do you think you should save per year (percentage wise) to ensure you will have enough to retire with? Most dont save that much if at all... and some sources say at LEAST 15% of your check should go into your saving (NOT including 401k investments)

Once you have determined your savings percentage where do you feel those funds are best invested?
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Old 09-06-2006, 11:03 AM   #2
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Re: Planning for Retirement, how much is enough?

Id save whatever wasnt in my budget personally... I see what saving has done for my parents, and my dad invests probably 25% of what he makes.
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Old 09-06-2006, 11:12 AM   #3
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Re: Planning for Retirement, how much is enough?

that may work for you, but i'll keep my 401K, IRA and stocks
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Old 09-06-2006, 11:18 AM   #4
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Re: Planning for Retirement, how much is enough?

I save money in my 401k and mortgage, right now. I put at least enough in my 401k to get my maximum employer matching. Anything left over I dump onto my mortgage payment.
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Old 09-06-2006, 11:33 AM   #5
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Re: Planning for Retirement, how much is enough?

Quote:
Originally Posted by timpryor View Post
that may work for you, but i'll keep my 401K, IRA and stocks
what are you talking about?
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Old 09-06-2006, 05:19 PM   #6
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Re: Planning for Retirement, how much is enough?

DOH, i posted this in the wrong thread oops
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Old 09-06-2006, 06:02 PM   #7
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Re: Planning for Retirement, how much is enough?

determining a 401k is hard sometimes too because u don't want to eliminate money out of your paycheck that you need

before i lost my job, i had 15% of my check added to the 401k...sucks though cause i only got to use it for 3 weeks before i lost my job
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Old 09-06-2006, 06:58 PM   #8
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Re: Planning for Retirement, how much is enough?

It all depends, the more I look into it, the more I'm liking perpetual annuities. It's a matter of coming up with the capital to start it. When it comes to saving, I'm a non risk taker, my money stays in cd's and savings accounts, I need to learn to take a risk or two in order to see real gains. When I get a job here in a few years, my savings will probably be minimal because of other payments and bills that will come up then, eventually I want to put back at least 15% and put it in some sort of a high yield annuity or something.
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