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  1. #1
    Susan Kunz
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    Default Saving for retirement


    The gal that did our taxes this year brought this one up because of my hubby
    and we are only in our mid 20s. The main thing that she mentioned was to see
    if the employer had a 401k program. The main thing that I could think of
    would be getting a separate savings account that is set up so that the only
    way to touch the money is face to face. After you have this set up start
    putting money into it and after you have enough money in it get a CD or
    savings bond and place it in a safety deposit box. Continue to do this and
    and by the time that you retire you could/should have quite a bit saved up.

    Susan



    < Wishing for our troops to come home soon. Peace and love be with them all. >

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  2. #2
    Senior Member Savin' Moola's Avatar
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    Default Saving for retirement

    The gal that did our taxes this year brought this one up because of my hubby
    and we are only in our mid 20s. The main thing that she mentioned was to see
    if the employer had a 401k program. The main thing that I could think of
    would be getting a separate savings account that is set up so that the only
    way to touch the money is face to face. After you have this set up start
    putting money into it and after you have enough money in it get a CD or
    savings bond and place it in a safety deposit box. Continue to do this and
    and by the time that you retire you could/should have quite a bit saved up.

    Susan

  3. #3
    Senior Member Savin' Moola's Avatar
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    We go with Primerica for our retirement and life insurance. They are wonderful.
    If one of us was to pass away the other would have absolutely no worries, and
    our retirement is going to be pretty well cushioned as well. Also, when you
    talk to an agent, they help you do an FNA (Financial Needs Analysis) (FREE) that
    helps you decide what bills to pay off first and how you can pay them off at an
    accelerated rate and how much life insurance you may want and need as well as
    retirement needs and planning for college for your children. We are mid 20's,
    so we got started early enough that we will be well set for retirement.

    My husband used to be a Primerica agent so he can tell you a little bit if you
    want, he can't give much advice though because he isn't liscenced anymore and he
    can't work across state lines. It is a really good thing to look into, the
    initial FNA is free, and even if you decide against there life insurance or
    anything, the FNA still gives a lot of info and direction into paying off bills.
    Let me know if anyone wants more info, and I'll have my husband right in.

    Naomi
    Disclaimer: We are not affiliated with Primerica and will not benefit in any way
    from any information we give about Primerica. Just thought I would add that
    since I sounded a little like an ad above.
    From: "CRAIG JONES" <chondro25@msn.com>
    Date: Mon Apr 21, 2003 4:45 pm
    Subject: Re: Budget101.com : Saving for retirement (kinda long)

  4. #4
    Senior Member Savin' Moola's Avatar
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    We all really need to save for retirement and it is so hard when you are
    living paycheck to paycheck. If your husband has a 401k at work (or could
    be called a 403b or 457 depends on the company or govt that he works for)
    make sure that he is putting some money into it. Most companies have a match
    and that is free money. My former company would pay 50 cents on every
    dollar that I invested up to 6% of my salary. That was free money. The
    money is also tax deferred.

    If you are the non-working spouse you can set up a spousal IRA which can
    either be Traditional (tax deductible and tax deferred) or a Roth IRA (no
    deduction but grows tax-free). The Roth has less restrictions on it. You may
    put in $3000 a year (this amount is going up every few years) and put it in a
    CD, money market, annuity or a mutual fund.

    http://www.fool.com is a wonderful resource for learning about retirement savings.
    I used to be trainer for a financial services firm specializing in
    retirement.

    Theresa
    Mommy to Lewie, Ryan and Colin

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