At what age did you begin retirement planning

by Zoos 7 Replies latest jw friends

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  Zoos

  I am 46. I just started a 401K three months ago.

  Not long ago, while I was still "in", the topic of 401s came up between me and a coworker. He asked if I was plugged in and I said, "No. My retirement is already secured. No need for a 401." That probably left him with the impression that I had a secret pile of money stashed away somewhere. Actually, I knew that Armageddon would be here soon. No need to deprive myself of any portion of my paycheck now.

  That was then.

  I have done some forecasting and I am fortunate that I do not carry too much debt. If I behave myself I can be debt free in less than five years (mortgage in about 13 years) and then begin pouring all that money into IRAs, etc. I am also fortunate that I have a reasonably good paying job so the current, day-today needs are not a struggle. Not bad for someone who was able to avoid the temptation of a demonic higher education.

  Forecasting is one thing. Life's curve balls are quite another and I am feeling a bit nervous. This is something I should have been taught and encouraged to begin 25 years ago. Retirement is not something you can just throw together at the last minute. ESPECIALLY in this financial climate.
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  zeb

  32 and heard slight mutterings about "not relying on Jehovah".

  I ask; do you have car insurance? You do. So you have insurance against calamity that may never happen. Two things will happen; first is that you will get to old to work its called retire. The other one is you will die.
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  MissConfused

  25 - cos i was a worldy non-JW then. I am happy that i did all planning before getting the troof!! :D
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  Chaserious

  I started my 401k when I was 22 and still in. It just seemed like giving away free money not to contribute when my employer at the time would match what I put in. Still, 46 is better than never. There are still a lot of people who rely on just SS & medicare.
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  jam

  21 years of age. I purchase my first home at 21. My plan was

  to have at least 5 homes by the time I retire plus 401.

  My divorce put an end to that. I was on my way with two properties.

  I figured after I retire I would sell one property every five years adding

  this to retirement income. That was my plan before the WT came along. LOL
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  hoser

  I started an rrsp at the ripe old age of 23. The company matched 4% of my wage. But I never really got serious about retirement planning until I hit 40 and knew ttatt

  hoser
• 

  Found Sheep

  33 had $0 when I left
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  happy@last

  Age 18, 3 years after my baptism! I was still thinking the 'end' was coming years later, in reality everyone's end comes at some point