Are you on track for retirement?
Funding retirement ought to be a priority for everyone, but based on the things that are often in the media (people raiding 401k accounts, baby boomers delaying retirement, etc.) it’s probably not.
I know that I personally am behind on funding retirement, even though I’ve been hitting it hard for the past couple of years and intend to keep doing so.
(Of course, it’s a whole lot easier to just start with your first job and fund retirement consistently, thanks to the magic of compounding over time.)
How are you doing with retirement?
I thought it might be interesting to see how many people are or are not, based on a calculator that’s easy to use: Retirement Planner.
So, here is a little poll:
In either case, when did you start funding retirement? What advice would you give others?
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June 24th, 2009 at 6:29 pm
I’m only on track because I have a pension. I started my pension job in my late 20s. A few years after that I started saving a small amount of additional money for retirement. About five years after that, I started maxing out a Roth IRA. Two years ago I started saving additional money in a Roth 403(b).
If I enter the amount in my pension and the amount I’ve saved myself and include Social Security, I’m still not on track to retire as early as I want to, so I’m also hoping my pension rules won’t change for the worse.