Do you save for retirement?
 

Just curious what percentage of people in the industry actually think about and plan for retirement.

My hunch is very few. The industry attracts "free spirits" who could likely never succeed in a regimented 8-5 lifestyle. Same personality typically doesn't think 20+ years down the road.

We have tons of examples of people who made more money in a couple or three years than many will make in a lifetime and have absolutely nothing to show for it. My hunch is tha majority would be in danger of losing cars, having utilities cut off and no place to live inside of 3 months if their adult income went to $0 right now.

Myself, I've been socking some back since first gig out of college when I was putting a pitifully small amount into 401K. At the point the nest egg is big enough to support the lifestyle I want for the rest of my life without it having to be fed, I'm out. I might still dabble, but only out of boredom. I'm not there yet, but I can at least see the finish line.

The earlier you start, the easier it is to get there. My hunch is VERY few companies offer even so much as a SEP and most individuals likely do not even have a IRA.

Just curious what the prevailing mindset is...

Re: Do you save for retirement?
 

HUH????? :blink: You mean you wasn't serious when you said "Your leaving it all to me"...?

Re: Do you save for retirement?
 

not a bit yet, I am too busy putting it all back into building what I have up.....I would imagine I will start one day though

Re: Do you save for retirement?
 

Damn, I had the feeling I was forgetting something...:scratchin

Re: Do you save for retirement?
 

i live for today and buy lottery tickets... thats my retirement plan! heh heh


spaz


i'm serious dammit!

Re: Do you save for retirement?
 

I would love to, but really didn't manage to save anything yet..:(

Re: Do you save for retirement?
 

I'm still paying back all the start-up costs for the home biz... but that should end this year and I'll be able to build up some savings.

Re: Do you save for retirement?
 

Ok... So whos the 1 dumb numbnut who voted for obtion 4? :thumbdown

Re: Do you save for retirement?
 

I certainly don't plan on working until I am 70, so I am trying to work towards retiring early

Re: Do you save for retirement?
 

Best advice I can give is to simulate your own 401K plan. If you're a small company or self employed this can easily be done with a SEP-IRA.

The idea is take a percentage of your income and have it deposited before it ever gets into your hands. You never miss it that way. Even 5% adds up.