Parents: when did you start contributing to a retirement plan (be it 401k or other)?

Question

If it was before you had children did you reduce the percentage you invested after the kids came?
Just curious.

I pretend the money does not exist so I really don't miss it. But I only contribute 6% (it's what my employer matches).

Answer 1

It was probably 3 or 4 years ago. I originally put 10% in actually. Now I only put 5% in since I had my daughter. My employer does NOT match, AND I'm only paid once a month- lame-o's.

Answer 2

I have three different ones. I started contributing as soon as I had a job with that option - sometime in my 20's, long before I had kids. Now I need to work on rolling them all over into something I can contribute into again, now that I'm a freelancer. Mountains of paperwork to get that worked out.



My parents were quite poor for most of my childhood and young adulthood with some real rough spots - but they owned their house and they held onto their retirement plans and now they are in great shape. Worth doing.

Answer 3

I've never had a pension. When I started working full time at 16, a pension was the last thing on my mind, I just wanted all my wages. Now over 20 years later, I still don't have one. I'm just hoping that I'll receive a state pension whenever I manage to retire, as they keep upping the retirement age.

Answer 4

Soon after our son was born, my husband opened a life insurance/retirement through the Military Benefit Association. We pay in $100 a month (minimum of $25 to keep the account open) into this retirement, which should be about $250-450K when he retires.



Because he was in the military he received this benefits package. It's a veterans only retirement fund and well worth the $100 every month.



My husband was 23 and I was 21 when he opened it, so we've been paying into it for about 4 years now.

Answer 5

As soon as I got my first job out of college. Unfortunately, there are a couple of states that make it next to impossible to transfer teachers' retirement plans, and I had been working in one of those states...so I lost the majority of that savings when I moved out of state with my military husband. We are only contributing to my husband's now. I don't know the percentage, but I know the amount. It's a pretty good chunk going in to the TSP every paycheck.

Answer 6

About 7 years ago, at my old job - and then when I took my current position, I rolled everything over to the one we have here and kept on contributing. I contribute 5%, what my employer matches.

Answer 7

Around the time i started the job. It was too good to turn down sort of thing. Bare minimum to meet the match. Once I got married and had kids, it actually hit me that I would eventually be old and need it. So we started taking it seriously, and contribute more wisely.

Answer 8

I haven’t signed up for it yet and I know I should. We can sign up quarterly and our employer matches up to 3%. I should do it because it’s stupid not to. It’s “free money” so to speak.



But every time I think about it, fill out the paperwork, it seems my husband loses his job. And then I never pass in my application because I can’t miss out on $20/wk or whatever I end up choosing. It sucks.



My next raise (hopefully that’s soon) I’ll sign up. And pretend I never got a raise and put the money straight into my 401K. At 27 yrs old, I’d seriously be a FOOL to not sign us up!

Answer 9

positioned the optimal volume which will maximize what your organization places away for you. Then open up a ROTH ira with your economic enterprise and positioned the optimal allowed in there. A ROTH IRA is After Tax money and because you do not make too plenty besides ther'es no think approximately attempting to save money with PRE TAX money. The ROTH will enable that money to enhance and once you retire you are able to pull all that money out with out having taxed on it. you will in spite of the shown fact that should pay taxes on your 401k and a usual IRA once you retire. you're incredibly plenty already interior the backside tax bracket, so putting away money on your 401k won't forestall plenty. somewhat positioned up on your organization will max out on with the aid of fact this is loose money.

Answer 10

i started contributing as soon as i had a job that offerred it, which was before my son was born, about 14 years ago. I contribute 6% also because that is what they match. I've never changed it.

Answer 11

I started just after I had my son but when I got divorced I had to stop and I have yet to restart. I'm probably going to be working until I'm dead anyway, not sure if the dream of retiring is beyond me now. Lord knows there won't be any social security left when I can collect.

Answer 12

i started my retirement plan the year i graduated from college and got my first job. in the beginning i was putting in i think 3%, but now we put in close to 8% (and my employer matches that).