how do you handle it?
im starting to worry about it the older i get. i wont draw anything but social security but my husband will draw his 401k, social security and veterens pay. i am on disabilty and we are going to start saving my whole check. if i didnt have a mortgage i wouldnt worry so much about it. we are working on getting our house paid off early.
I never use to, but with the way things are now days I do think more about that. But, I'm the type of person that I don't worry much about things. We can just do what we can do. My husband was able to retire at 55 with a full pension, plus he's been working on his second career job for 7 yrs. now. He gets a 401K and we are putting money into that as well. He qualifies for Soc. Sec. in Sept., but he wants to work till 66 to get full Soc. Sec. $400 more a month difference between 62 & 66. He could start collecting it in a couple of months though if he wants to quit his job.
I also will collect Soc. Sec. because, I worked alot before we even had our kids. I worked a total of 20 yrs., some of that p/t, so I won't get alot but I will get at least 1K a month, that something :) Although, I was a SAHM first, I did work with the Schools, with Spec. Needs kids, when my kids got older. I worked another 10 yrs. there. I was permanent at first, then quit & just did Sub. work with the Schools. So, I could work when I wanted to. We want to sell our house, (which we don't owe alot), then pay cash for another house where our children live OR hope to live. Which is in N. Calif. :)
I do, but I worry more about paying my current bills
I do a tiny bit, but I do qualify for social security if the system is still up at that point. Otherwise, I have a small 401K (I started working late, but did put 10%+ into 401K and my company matched) and my husband has a large 401K (older, earns more). Even though it's all his, even if he divorced me or something, I'd get some of it from when we were married. And then I hope to work more some day
i worry about retirement alot. Recently, i started a Roth IRA at work, but it only has about $250. I joke with my kids when we go to walmart that i will be the greeter someday. What they don't know is that I am pretty serious. I will probably have to work for the rest of my life. Hopefully that won't be too much longer. I'm already 42.
I have had a 401k at my last two jobs that I contribute the max amount, plus my company matches up to a certain percentage. They also put some in once a year. I'm 32 so hopefully if I keep contributing until retirement I should be doing ok.
i do, but dh has a pension, as long as he stays with the job he has.
Just wondering how do you handle it? Are you worried about retirement yourself? When my husband & I were younger, we were always taught by our parents that just working at 1 job, get your pension & soc. sec., get your house paid off & have a savings. That's how my parents did things. Things are SO different these days. These are alot more expensive, plus jobs just don't offer & pay what they use to. Healthcare for example, when I was growing up, my dad's UNION job pay EVERYTHING!! Now days, ALOT of us have to pay for our Ins. I'm seeing our Healthcare go up & up all the time.
But, I should be happy because all these yrs. while raising our kids, we paid NOTHING for Healthcare. My husband's job paid it all :) But, not anymore :( Still I guess it's less than what I hear some people pay. We pay $450/mo. That's health, dental & eyes. That includes our daughter that's in College. Still back in the days of my parents, that would be ALOT of money to afford. Especially, only on 1 salary. That's doesn't include co-payments which are $25 a visit & prescription fees. If you're say younger than 55, you won't be getting any Soc. Sec. or you'll get less. The program is going bankrupt. Young people today have to plan for their own retirement, without depending Soc. Sec. Yrs. ago, that's what we planned on getting.
So, like with my kids which are 23 & 27, they both will HAVE TO save, save, save. Put into a Roth IRA, & contribute to a 401K. Because, it also seems alot of Company's aren't offering Pension any longer. Honestly, I don't know what we'd do IF at our age we didn't have our Soc. Sec. & my husband's Pension coming in. (Soc. Sec. in a couple months if we choose to go that route). I think it's also very scary not knowing what is going to happen in this Country, to all the programs that help people. I think unfortunately, we will see alot of cuts. Cuts in Medicare for Seniors, Medicaid for the poor, Soc. Sec. age pushed up for which one can start collecting & perhaps lower benefits (but to people under 55 I think), Soc. Sec. Disability cuts, & PA cuts. It has to happen, being the shape this Country is in. Or else we'll be a Greece, & other Countries.
how do you handle it?
yes i do. my parents have a real mess on their hands. my mom was a real spender in her eary days, and they debit to their eyes. i dont want that. i have zero saved though. hoping my d/h finishes school and gets a good job. than save for retirment even though we are 34!!!!!!!!!!!!!
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