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| lithman |
 Posted: Fri Jun 09, 2006 10:24 am Post subject: when did you start saving? |
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When did you start saving for retirement? I am 23 now, and eligible for my companies 401k in July. I don't have a lot of money to put into the 401k, so for now I'm going to simply put in the 3% so I get the company match.
It's always best to start saving when your young. Just wonder... at what age did you start saving? |
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| domgen |
| Posted: Fri Jun 09, 2006 3:32 pm Post subject: |
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Investing Sr. Associate
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| I started saving about 10 years too late. Also got involved in a bad real estate deal that I lost a chunk of change on early. Took me awhile to recover. No regrets though it was a great learning experience! |
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| GeneCosta |
| Posted: Fri Jun 09, 2006 8:30 pm Post subject: |
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Well, as a child I always recieved hundreds of dollars (possibly thousands) every year for Christmas and my birthday. My parents were smart in putting 75% of it in my bank. Looking back, I know I would have spent it all. 
Personally though, I opened my own bank account when I was 15 and actually had a job. |
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| Awakened-Soulja |
| Posted: Mon Jul 10, 2006 11:42 pm Post subject: |
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| I havent started saving yet, but will do soon ^^ |
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| CJ. Wentworth |
| Posted: Tue Jul 11, 2006 12:27 am Post subject: |
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Investing Sr. Associate
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at such a "young" age your super isn't as important as what else you could be doing. Please don't read this as saying not to contribute because that's not what I'm saying, and I totally agree with the 3% that you've put in there (especially because of the company co-contribution).
A way to think of your super is as Insurance. You really shouldn't bother putting much more than 5% into your Super as the other 95% could be used much more effectively. If you make mistakes along the way, if you've placed 5% of your salary into your Super, you'll be fine once you've hit retirement.
I'll come back to this as I'm somewhat distracted atm |
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| MrT |
| Posted: Tue Jul 11, 2006 10:13 am Post subject: |
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Investing Sr. Associate
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| I go by the 10% rule, that you should always put away 10% into savings/retirement. I heard that from someone before who had some good logic behind it, but I don't remember what it was now. To me it seemed like a small enough amount not to be too bad, but large enough to make a difference if I needed it. |
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| SemirB |
| Posted: Wed Jul 19, 2006 10:55 am Post subject: saving |
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Investing Sr. Associate
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| I started saving when i first got my job. Up to this date I saved Up a 100% of my checks in to my fathers account. Now I want to learn where to invest it |
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| raspberry24 |
| Posted: Sun Aug 06, 2006 5:00 pm Post subject: |
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Member of the Month
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| I started saving when I got a real job.. so I guess about 6 years ago. I have an IRA and since I am a teaher, money from my check goes in to TRS automatically (instead of social security). |
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| SpiffWilkie |
| Posted: Sun Aug 06, 2006 5:16 pm Post subject: |
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Investing Associate
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| I've just started really saving recently (I'm in my mid-20's). I should've started a while ago, but better late then never. I try to put away at least 15% in 401K and other investments. |
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| e_pang |
| Posted: Sun Aug 06, 2006 5:25 pm Post subject: |
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Investing Sr. Associate
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| my rule of thumb is 80-10-10...this being 80% expenses, 10% to Church, missionaries, etc 10% savings. Just my rule of thumb! |
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| Gilgamesh |
| Posted: Sun Aug 06, 2006 5:58 pm Post subject: |
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| I started when i was in grade school, my parents really stressed saving. in my teens I started taking it a lot more seriosuly on summer jobs and finally started investing in my early 20's. I now contribute 10% to my official retirement fund (TSP goverment fund) from my paycheck and try to put another 10 -20% or even more into my regular investments a month. Right now as a late 20's stably employed guy; i figure I am single, moving around so still renting (cheaply) and fully willing to live below my means (no 62 inch plasma TV) and carry no debt so now is the perfect time to be putting money away in preperation for down the line. |
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| Dave Rathbun |
| Posted: Mon Aug 07, 2006 2:23 am Post subject: |
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CFO
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| Gilgamesh wrote: | | and fully willing to live below my means (no 62 inch plasma TV) |
Congratulations! You've solved one of the most important pieces of the puzzle, in my opinion.  |
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| rykarde |
| Posted: Wed Aug 09, 2006 7:05 am Post subject: |
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Investing Sr. Associate
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I started my 401k as soon as I was able to. I made sure I got the company match then just increased 1% everytime it opened up.
Start early and often .. any amount will grow ... |
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| shaffawn |
| Posted: Fri Sep 29, 2006 6:19 am Post subject: |
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I just started investing in my 401K but only up to the company match.
I will start saving with the 80-10-10 rule once a pay off my student loan debt. I pray that this will be within the next year. |
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| zerolikedis |
| Posted: Mon Oct 02, 2006 8:47 am Post subject: |
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Investing Manager
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started saving from a kid my mom bought me a couple of bonds
btw i just increased my 401 k to 18% from 15%
i just got a cost of living increase of 3 %. i have about 4 grand save since start of 06. i dont know if i will be with the company long so i want to make sure i have 5000 saved in the companys vangaurd 401k programs so that i avoid fees if it ges rolled over |
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