Planning For Your Future

**Shell** · 01-29-2003, 06:54 PM

I was wondering how many of you are putting away money for the future? I have always put money away every month into an RRSP (IRA) and now put money away monthly into an emergency fund (see challenges) What kind of financial plans have you made for when you retire?

**pita1213** · 01-29-2003, 07:04 PM

dh has money go automatically from his paycheck to a 401k. right now i am ashamed to say that is all we are doing. it's better than nothing, but i would like to put money away into a seperate account for emergencies and such.

**MJsLady** · 01-29-2003, 07:29 PM

pita we are the same. We did decide when dh gets his raise it will be added to his 401k deposits

**Ellise** · 01-29-2003, 08:48 PM

DH also has money going into a 401k, Company matches him 100%. We've been saving since we met in 1987. So far in savings $31,000.00. And we were in the ARMY for 11 years. I recently went back to work about 2 years ago. We save almost all of my paychecks unless we have an emergency. Stocks are doing great got in on some really killer ones that don't seem to be going away anytime soon. Early College Funds for the kids were started by our parents. We had to use one of them when my oldest son died 8 years ago. He had Cancer and the bills were over a millon dollars, still paying on them. So that is how we are saving for our future

**Shell** · 01-29-2003, 11:00 PM

Ellise, I am so sorry to hear about your son.

**homesteadmamma** · 01-29-2003, 11:12 PM

Ellise, sorry to hear about your son.

Were putting money into our RSP's also being Canadian and were semi-retired with a small pension coming in. We are also adding to our savings as much as we can each month.

**PrairieRose** · 01-30-2003, 12:02 AM

We are putting into a SEP/IRA and are working on getting a year's worth of expenses ahead at the moment. Not there yet but still plugging along.

**pamy** · 01-30-2003, 06:49 AM

DH and I both put 10% in 401(k)'s (pre-tax) and save another 20% after-tax for our freedom and emergency accounts. We also are trying to get our mortgage paid off as quickly as we can.

**babynurse** · 01-30-2003, 07:23 AM

I am currently starting an RRSP (only 150$/month, but a start) and I am trying to save 10% of each paycheck in an emergency account/new car account! Feels good to be planning for the future!

**tigo** · 01-30-2003, 08:57 AM

I buy stocks through sharebuilder for me and the kids. DH and I both have 401s. He has military retirement when he gets out. We are currently focusing on buying bonds for the kids college and our retirement too. Right now, paying off debt is on the front burner, so that is where a good percent of our free money goes.

**Mom23boys** · 01-30-2003, 09:14 AM

DH has a stock plan through his work. I have a stock plan and I will have teacher's retirement when I retire. We both have something to fall back on, but will it be enough??? I doubt it.

**Ellise** · 01-30-2003, 02:03 PM

Hey Luvedwife, As I'm sure you guys have already been to the budgeting class on base, remember not to over pay on you larger debts ans still have the payment each month. What we did was pay off the smallest one(s) first, use that payment money to pay on the next smaller one and so forth. You'll be surprized at how much sooner you get them paid off. We use to take our Income Tax return checks and pay off as much as we could --while putting half into savings-- so when we got back $400.00 we'd pay as much as we could with $200.00 what couldn't be paid just stayed in our budget (monthly). Hope this helps someone who may have needed to makes heads or tails of budget payoffs

**graci42** · 01-30-2003, 02:54 PM

Dh and I both have retirement funds thru work, and we've put back 2000.00. We are putting our income tax return into savings. We are hoping to buy a house this year and will use the money for closing costs.

After that, we will continue to put 200.00 or more a month into a savings account for emergencies. If we can get the loan the way we want, all of our debts will be consolidated into the morgage. That will free up quite a bit for savings.