Comments on: Save for Your Retirement: Stop Putting it Off

By: Philip Taylor

Philip Taylor — Thu, 01 Jan 1970 00:00:00 +0000

Thanks, Doris. I appreciate the encouragement.

By: Philip Taylor

Philip Taylor — Thu, 01 Jan 1970 00:00:00 +0000

Sure, it’s tough going from no saving to instantly saving 50% of your income. But that’s simply what it will take if you are just getting started in your late 40′s or 50′s. Sorry, but that’s just the truth. Do you have to start with 50%? No. But you better eventually get there. As for lifestyle, that’s for the saver to decide. Do you want to have everything now and nothing in retirement? Or are you ready to dial things back (i.e. get a smaller house, don’t pay for your kid’s education, don’t buy your teenagers expensive stuff) so that you can have money to live on when you can’t earn anymore. What I think is unrealistic is not saving and then hoping something good will happen for you.

By: Doris Ovwurie

Doris Ovwurie — Thu, 01 Jan 1970 00:00:00 +0000

I find the information very useful. Please keep up with the enlightenment.

By: jennifer

jennifer — Thu, 01 Jan 1970 00:00:00 +0000

When asked which comes first my kid’s college or my retirement, my financial guy says, “There are no scholarships, grants, or loans for retirement.”

By: Lauren

Lauren — Thu, 01 Jan 1970 00:00:00 +0000

I find your article really informative. I have a pension, but not really sure of the ins and outs of it. Just started my own blog. Still in its early stages of development.

By: rebmoti

rebmoti — Thu, 01 Jan 1970 00:00:00 +0000

I appreciate the intention, but this is the kind of advice that makes people throw up their hands and not act at all. Is it really realistic to ask people in their 40s and 50s to save half their earnings? No, it is not. This is the age when people have the most expensive lifestyles – teenagers, kids in college, big-house mortgages and the like. If they haven’t been saving for retirement at all, the idea that now all of a sudden they’re going to start saving half of what they earn…. Well, not realistic, like I said. Perhaps a post looking into this issue a little more closely, it is a big one, as these (we, I should say) are the people most affected by the collapse of housing prices and the famous 1990s/2000s 0% savings rate.