Apr 7th 2011
Flag This
Next Question » « Prior Question
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

Recent Answers   (2)

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.

Add Answer See All Answers
300x250 KissRejection v3
Dust Off Your New Year's Resolutions

January 1st, 2013 was for many a great day.  Celebrations, drinking, friends, food, fun – the whole deal.  You counted down ‘til 2012 was over, and you rang in the new year with a smile on your face.  When you woke up the next morning yo… Read More ›
Featured Resources