Comments on: Early Retirement Planning: How I Save For Retirement http://20smoney.com/2008/08/21/early-retirement-planning-how-i-save-for-retirement/ Aggressive Yet Responsible Wealth Building For 20-Somethings Tue, 09 Mar 2010 23:27:27 -0800 http://wordpress.org/?v=2.8.3 hourly 1 By: Retirement Investor http://20smoney.com/2008/08/21/early-retirement-planning-how-i-save-for-retirement/comment-page-1/#comment-1870 Retirement Investor Wed, 10 Jun 2009 15:53:33 +0000 http://20smoney.com/?p=204#comment-1870 Due to current economic turmoil many employees are leaving the workforce in favour of early retirement which is putting an increasing strain on the state’s finances. Due to current economic turmoil many employees are leaving the workforce in favour of early retirement which is putting an increasing strain on the state’s finances.

]]> By: Isabella Coldivar http://20smoney.com/2008/08/21/early-retirement-planning-how-i-save-for-retirement/comment-page-1/#comment-1111 Isabella Coldivar Tue, 28 Oct 2008 19:50:50 +0000 http://20smoney.com/?p=204#comment-1111 Saving for retirement these days has almost become a magical formula. The current state of the economy is throwing a lot of wild cards and it's hard to know what to do. Many baby boomers are having to delay their retirement a bit because of this. However, when you're ready to sit back, relax and enjoy your golden years, remember that there's one company who will be there to help you enjoy the ride through retirement... AARP is a great source of services and information that can be beneficial to the quality of life. What's great about AARP is that a membership comes with prescription and travel discounts! AARP has teamed up with talk show host, Cristina Saralegui and made a fun, customizable video and you're just a click away from being the next guest on Amigos Live! Check out http://www.upclosewithcristina.com/video to learn more and make your own video! Also, you can enter to win an all inclusive trip for 2 to Miami while you're checking out the site! (And even if you don't win, there's still those great travel discounts that come with the membership!) Definitely check out AARP for yourself or a loved one. There are really are some great benefits to joining! I hope it's alright that I commented on your blog -- wanted to let you know about the fun video with Cristina and AARP's great benefits. If you have any further questions, please don't hesitate to email me. Thanks! Isabella Coldivar AARP Ambassador isabellaAARP@gmail.com Saving for retirement these days has almost become a magical formula. The current state of the economy is throwing a lot of wild cards and it’s hard to know what to do. Many baby boomers are having to delay their retirement a bit because of this.

However, when you’re ready to sit back, relax and enjoy your golden years, remember that there’s one company who will be there to help you enjoy the ride through retirement…

AARP is a great source of services and information that can be beneficial to the quality of life. What’s great about AARP is that a membership comes with prescription and travel discounts!

AARP has teamed up with talk show host, Cristina Saralegui and made a fun, customizable video and you’re just a click away from being the next guest on Amigos Live! Check out http://www.upclosewithcristina.com/video to learn more and make your own video!

Also, you can enter to win an all inclusive trip for 2 to Miami while you’re checking out the site! (And even if you don’t win, there’s still those great travel discounts that come with the membership!)

Definitely check out AARP for yourself or a loved one. There are really are some great benefits to joining!

I hope it’s alright that I commented on your blog — wanted to let you know about the fun video with Cristina and AARP’s great benefits. If you have any further questions, please don’t hesitate to email me.

Thanks!
Isabella Coldivar
AARP Ambassador
isabellaAARP@gmail.com

]]> By: kevin duffey http://20smoney.com/2008/08/21/early-retirement-planning-how-i-save-for-retirement/comment-page-1/#comment-648 kevin duffey Sun, 24 Aug 2008 11:49:02 +0000 http://20smoney.com/?p=204#comment-648 Kevin, great thoughts. Mixing up my strategy with a traditional IRA might be a good idea considering the uncertainty of the future. Thanks for the comment. Kevin, great thoughts. Mixing up my strategy with a traditional IRA might be a good idea considering the uncertainty of the future. Thanks for the comment.

]]> By: Kevin http://20smoney.com/2008/08/21/early-retirement-planning-how-i-save-for-retirement/comment-page-1/#comment-642 Kevin Sun, 24 Aug 2008 03:07:33 +0000 http://20smoney.com/?p=204#comment-642 Kevin you might want to consider balancing your IRA contributions between a Roth and a traditional IRA. Since a 401K plan offers tax-deferred earnings (just like a traditional IRA), whereas a Roth IRA offers tax-exempt earnings, opening a traditional IRA can diversify the taxing of your portfolio. In theory the Roth is probably better for tax purposes because you will hopefully be in a higher tax bracket by the time you're ready to withdraw. But nothing is set in stone and it could be beneficial to have some retirement savings that you can deduct from your taxable income today. Perhaps you could have your wife's IRA set up as a traditional and keep yours as a Roth. This method would avoid multiple IRAs under your name. One last thing - dollar cost averaging is really a wash. It's not necessarily beneficial, but it's not detrimental either. Just a matter of personal preference (I can quote one of my former Finance professors on this one, as I was unsure myself!). Good luck! Kevin you might want to consider balancing your IRA contributions between a Roth and a traditional IRA. Since a 401K plan offers tax-deferred earnings (just like a traditional IRA), whereas a Roth IRA offers tax-exempt earnings, opening a traditional IRA can diversify the taxing of your portfolio.

In theory the Roth is probably better for tax purposes because you will hopefully be in a higher tax bracket by the time you’re ready to withdraw. But nothing is set in stone and it could be beneficial to have some retirement savings that you can deduct from your taxable income today.

Perhaps you could have your wife’s IRA set up as a traditional and keep yours as a Roth. This method would avoid multiple IRAs under your name.

One last thing – dollar cost averaging is really a wash. It’s not necessarily beneficial, but it’s not detrimental either. Just a matter of personal preference (I can quote one of my former Finance professors on this one, as I was unsure myself!).

Good luck!

]]> By: Saturday Link Love: Another One Bites The Dust (Ask Mr Credit Card’s Blog) http://20smoney.com/2008/08/21/early-retirement-planning-how-i-save-for-retirement/comment-page-1/#comment-629 Saturday Link Love: Another One Bites The Dust (Ask Mr Credit Card’s Blog) Sat, 23 Aug 2008 09:48:34 +0000 http://20smoney.com/?p=204#comment-629 [...] Money discusses how he saves for retirement - without the benefit of a 401(k) [...] [...] Money discusses how he saves for retirement – without the benefit of a 401(k) [...]

]]> By: kevin duffey http://20smoney.com/2008/08/21/early-retirement-planning-how-i-save-for-retirement/comment-page-1/#comment-618 kevin duffey Fri, 22 Aug 2008 18:21:22 +0000 http://20smoney.com/?p=204#comment-618 By at once, I mean once a year. I prefer not to dollar cost average every month. If you're doing that, it may work out or may not but it kind of indicates you are very unsure of your positions. When I transfer the max Roth IRA contribution annually into my Roth IRA, I may or may not purchase stocks immediately with those funds. If I'm waiting for a better buying opportunity, there may be some cash in the Roth IRA for some time. If I am buying more shares of positions I already have, then I may be participating in dollar cost averaging also just on an annual basis as opposed to monthly. Thanks for the comment. By at once, I mean once a year. I prefer not to dollar cost average every month. If you’re doing that, it may work out or may not but it kind of indicates you are very unsure of your positions. When I transfer the max Roth IRA contribution annually into my Roth IRA, I may or may not purchase stocks immediately with those funds. If I’m waiting for a better buying opportunity, there may be some cash in the Roth IRA for some time.

If I am buying more shares of positions I already have, then I may be participating in dollar cost averaging also just on an annual basis as opposed to monthly.

Thanks for the comment.

]]> By: Sean http://20smoney.com/2008/08/21/early-retirement-planning-how-i-save-for-retirement/comment-page-1/#comment-617 Sean Fri, 22 Aug 2008 16:59:23 +0000 http://20smoney.com/?p=204#comment-617 Why do you favor buying lots of stocks at once rather than dollar-cost averaging if you do not pay commissions per trade? (sorry if you've already covered this) Why do you favor buying lots of stocks at once rather than dollar-cost averaging if you do not pay commissions per trade? (sorry if you’ve already covered this)

]]> By: kevin duffey http://20smoney.com/2008/08/21/early-retirement-planning-how-i-save-for-retirement/comment-page-1/#comment-614 kevin duffey Fri, 22 Aug 2008 14:17:57 +0000 http://20smoney.com/?p=204#comment-614 Yes you're right. In 2009, it is bumped up to $5,500. Since I'm already maxed out this year, I have 2009 in focus and the $5,500 number on my mind. Thanks for the clarification. Yes you’re right. In 2009, it is bumped up to $5,500. Since I’m already maxed out this year, I have 2009 in focus and the $5,500 number on my mind.

Thanks for the clarification.

]]> By: Eli http://20smoney.com/2008/08/21/early-retirement-planning-how-i-save-for-retirement/comment-page-1/#comment-613 Eli Fri, 22 Aug 2008 13:41:39 +0000 http://20smoney.com/?p=204#comment-613 Isn't the 2008 limit $5,000 and $6,000 for age 50+? Isn’t the 2008 limit $5,000 and $6,000 for age 50+?

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