• In the Spotlight:
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

How Do You Save for Retirement?

Posted by on Sep. 28, 2010 at 10:12 AM
  • 13 Replies

I was wondering how everyone out there saves for retirement, especially the SAHM and business owners. 

I've been a teacher for 13 year but think my position is going to be cut after this year.  I applied to several other schools over the summer but I think I'm too expensive for them.  (Why would they hire someone on the 13th step when there are plenty applying on the 1st step?)  I've always thought about staying home and doing daycare out ouf my home but I'm concerned about giving up the Teacher's Retirement System.  Financially I'd be fine doing in-home daycare, but there would be a whole lot left for saving.

by on Sep. 28, 2010 at 10:12 AM
Add your quick reply below:
You must be a member to reply to this post.
Replies (1-10):
lizmarie1975
by Liz on Sep. 28, 2010 at 10:47 AM

I work so I've got a 401K that I've been contributing into for about 14 years now (good lord). 

elwalters77
by Erica on Sep. 28, 2010 at 10:54 AM

 NY State retirement plan through my job

Mom2Jack04
by Melissa on Sep. 28, 2010 at 11:29 AM

Well DH works a job and we have the carpet cleaning business.  Right now it's just the 401K BUT we plan on saving more once he is getting regular paychecks from the new job, but we are working on debts first. 

I love love LOVE, the books by David Bach, a good one to start is Smart Couples Finish Rich, and it's all about paying off all your debt and saving for the future and these are the principals we are using to eliminate our debt and save more than we spend. 

There is also a book/tape set called Transforming Debt into Wealth by John Cummuta (spelling i think is wrong there), which is based on a similiar system than David Bach's

tiredgranny521
by Silver Member on Sep. 28, 2010 at 11:43 AM

We have my 401 from work which is pretty small but we have IRA's (regular and Roth) from previous rollovers. We also have a couple of annuities and a REIT. They took a bit of a hit when the market fell but we pretty much recouped our losses. We are nearing retirement age but hope to hold off taking out of the IRA's until we really have to. When we had our business, we were able to continue contributions into hubby's Union Fund. We are collecting from that now.

Mom2jngnc
by Stephannie on Sep. 28, 2010 at 11:47 AM

 sadly EMS (Emergency Medical Services) is so limiting due to the "smallness" of the companies that we have none.

Wife to John, Mom to John, Garrett, CJ and Alex 
"Your stupidity is my husbands job security."
"I have one designer thing in my house, and it's a dog."

tiredgranny521
by Silver Member on Sep. 28, 2010 at 11:50 AM

 

Quoting Mom2jngnc:

 sadly EMS (Emergency Medical Services) is so limiting due to the "smallness" of the companies that we have none.

 Start an IRA yourself. Put a few bucks aside each month and it will grow. You have to pay yourself FIRST.

lady-J-Rock
by Niki on Sep. 28, 2010 at 11:57 AM

I do daycare I take 50% of my paycheck and put it into savings. My husband also has a 401k

Mom2Jack04
by Melissa on Sep. 28, 2010 at 12:36 PM

Oh by the way....where the heck have you been girl?  You rarely post these days, hope everything is okay!!!  Are you still with discovery toys?  If you are post or PM me a link.

lish2127
by Platinum Member on Sep. 28, 2010 at 4:29 PM

My DH has his 401k and that's all for now. I'm a SAHM hopefully at least until all of my kids are  in school and then I'll pursue a profession and will think about it more then.

DiscoveryToysMW
by Member on Sep. 30, 2010 at 8:27 AM


Quoting Mom2Jack04:

Oh by the way....where the heck have you been girl?  You rarely post these days, hope everything is okay!!!  Are you still with discovery toys?  If you are post or PM me a link.

haha...very busy!  But I just dropped out of college and should have a lot more time on my hands!  (Long story...I'm a permanently certified math teacher in NYS, my alma mater offered me a job as a tech person/librarian, then came back years later this past March to tell me I'm not supposed to be in that position (duh!) but they'd let it slide until someone complained or until they had to close my building and lay me off...which could possible happen after this school year.  I applied to several jobs for math this summer and had 3 interviews, but they all came back and said they were concerned because its been almost 10 years since I've taught math and may not be up on the latest standards (I actually think that was there excuse because its much cheaper to hire a 1st year teacher than a 13th year teacher.)  So I went to school for library but was really struggling to balance my time with family (because I needed to take student loans to pay for it and you need to be enrolled in 6 credits to get them), so I dropped out this last Monday.  Hence my return to cafemom and my interest in opening a day care!)

I don't sell Discovery Toys any more (I REALLY wish I could change my name on here!)  I started a Miche Bag business and the money is so much better!  But I am still active with DT until the end of the year so if you are interested in gettting any toys I can order them for you...they do sell the BEST toys!  I'm not looking to make any money off it so I'm happy to give anyone who wants it my 20% discount.  If you're interested take a look at the main DT site  http://www.discoverytoys.com/ and pm me.

 

Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)