when did you and/or your SO start saving for retirement? - Page 2

Mama2mygirls · 03-09-2008, 01:10 PM

When we were first married so I was 19 and he was 22. We weren't making much and the $150 a month we put in that first year of marriage was a ton for a single income couple who could qualify for WIC once our dd was born. Each raise we increased it as much as we could. Now, 5 years and several raises later we are able to invest a much more significant amount each month and feel great about our retirement plan.

stacia · 03-09-2008, 06:35 PM

When my dh was 25, I was 23.

Kim · 03-09-2008, 07:09 PM

When we got our first jobs we maxed out the 401K option right away. It was in our early 20s. It really has paid off. I'd highly recommend starting as early as possible.

Kellyandgirls · 03-09-2008, 07:16 PM

I started an 401K when I was 16 and got my first job (well 2nd but 1st one didnt have that)
I also had one at all jobs I had except a partime I had when In college! (they didnt have one)
now I do not have a job and no money going into it! but dh does!!

my dad is big on saving money he got it from his parents whom saved money for my kids even before they had kids of there own!! it paid off for all the grandkids etc after they died!
they gave a lot to each of us and I feel blessed and hope I can pass that down to mine as well!! it made me think of how special we were to them! and even before we were thought of!!!

2littleonesmommy · 03-10-2008, 06:02 AM

I started when I got my first job out of college (all my jobs before that I did not have an option) so I was 23. I maxed it out so I got used to living on less. DH started when we got married so he was 25. I love that compounding interest.

jgaume1 · 03-10-2008, 09:17 AM

I started right out of college at age 24. I contributed 10% of my salary to my company's 401(k) for the nine years that I worked there. They matched my contributiion at 115% on the first 6% that I put in. I managed to save a lot in those years. Now that I am home fulltime I am not saving anything for my retirement. I know that I should be contributing to an IRA but, there is just not enough left over to do that. My husband is still contributing 10% of his pay and he has the same 115% match that I had. So, for now, I am counting on him. We dont miss the 10%. I guess it is because for the last ten years we have been doing it this way so it is as though we never had the money in our pocket anyway.

Branachsmom · 03-10-2008, 02:04 PM

We each started saving at age 21.

Debbiesmom · 03-10-2008, 02:43 PM

We haven't really started yet. I am 23 and DH is 25. DH is self employed so we really don't know where to start. We have $599 in a savings account earmarked for retirement and we add to it now and then, but are not really sure when or how to invest it.

rskmom · 03-12-2008, 12:34 PM

Dh started around 19, but the company he worked at for the next 20 years finally ended their program. When he left there five years ago we reinvested it and it's doing well. He now works for the state and has a defined benefit program.

I have worked for the state since I was 24 and that's when I started contributing. I have always contributed the max and am blessed to have a great employer match.

We have never borrowed from our retirement and tbh I would only do so as a last resort. My goal has been to retire at 55 but once we had the twins, I realized I may need to adjust that a bit.

Lorikeet · 03-12-2008, 01:04 PM

We started late like 10 years ago. My husband was hit by a DUI driver and when we got the settlement we invested a good portion of it into retirement, education savings for our DD, and also paying off debt. In strange sort of way some good came out of a horrible situation. We would not have been as financial sound without that money.
I do notice that a lot of people do not discuss money. I wish my parents had discussed retirement programs when I started working. I hope to educate my DD.