texasstud
Apr 7th 2011
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I just read the article about singles needing to save for retirement and I wanted to know: how are you all saving up? I was told to put 20% of my income away,
but in reality I never do that. I wanted to hear from everyone what their strategy is. (I read the article here: http://www.stellasingles.com/blogs/view.php?id=245
2 Answers - Answer by texasstud

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The article that you are referencing brought up some interesting points. A lot of things that I didn't even consider. I agree with "Stephanie" though, and suggest that pre-tax dollars are the best way to save for retirement. Put plenty of money in your 401K and other long term savings plans, but keep enough to survive on.

I would say put 'whatever you can' away. And maximize your retirement accounts, such as IRAs, 401k plans etc. Because those are pre-tax dollars, so before you can save anything with your after-tax money, make sure you're contributing the maximum you can to those retirement plans. Then, if you have anything left, try to put it aside every month. I think it all depends on your age, so if you're younger, you can start with just a little bit and then when you're making more money, you can add more. Hope this helps.

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