Do you have a retirement fund or account?

**Katybird** · 01-04-2004, 02:33 PM

I have retirement with my job.  They will match anything I put into it up to 4%.  I have not been putting the entire 4% in but I plan to start putting in 6% of my income and they will match 4% so that will give me 10% into retirement.  I have to redo my retirement portfolio though, I have not done it in several years and I have money going into some more risky investments.  I am going to take it out of the investments and put it back into a risk free retirment.  I was younger and more adventurous when I originally set it up, now I want to know that my money is safe.

  

Do you have a retirment fund set up.  Do you think that there will be any social security left for us when we are ready to retire?  I hate to thing about putting into it for 50 years and never seeing any money back, but with the government's wild spending and robbing Peter to pay Paul I think it might be gone long before we reach retirment age

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**Michelle** · 01-04-2004, 02:42 PM

Yes, Dave is eligible this month to do it at his job. I believe the match is $750/yr. I'm currently doing the budget to see how much we'll be putting in our 401K.

**PrairieRose** · 01-04-2004, 02:44 PM

Yes we have an IRA that we put into yearly. I wish someone would match for us

**mrscornbread** · 01-04-2004, 02:55 PM

No but this is really starting to scare me, I have to do something. I know tat there is retirement for teachers, but I am starting at 44-45 years old, kwim?

**homesteadmamma** · 01-04-2004, 02:58 PM

This is one area that really has me concerned. Dh already gets a pension, but even after working 20 years at the same place, its so small you can hardly see it. Where he works now, there is no pension plan until after you've worked there a year. By then, were hoping he will be completely retired.

As to social security, we will get some. We will be taking out Canada pension as soon as dh hits 60. Old age security won't come into effect until he is 65.

I can't stress enough how important it is for everyone to start young. We didn't have that chance. When we were first married, they didn't have RRSP's and he didn't work at jobs where he could put any money into a pension fund. Then when he did and worked for 20 years, he couldn't put anything into his pension. It was all company pension.

My advice to anyone - put some money into a retirement savings every month if at all possible. With society aging, there just might not be any type of social security when you hit retirement age.

**voodidit** · 01-04-2004, 03:09 PM

I have one through work and they will match so much, one year it was dollar for dollar, I'm not sure about this year. But I can't afford to put much in right now.

**seadream** · 01-04-2004, 04:18 PM

Yes we have a 401K and profit share account through dh work. As he has been there for 15 years and they match pretty good and investing good we have a pretty sizable amount. Dh had 20 some years to go before retirement so we are pretty good in that area.

**lucy979** · 01-04-2004, 04:50 PM

No we don't and it scares me. WE really need to get one started.

**sunshine** · 01-04-2004, 05:43 PM

I have a retirement plan at work (not a 401K- and I don't get to contribute anything, but it will be about $1000/month when I retire at age 65)

I also have a private retirement fund- not an IRA, but with mutual funds and so forth. Right now with the market being so sluggish, it's not worth much- but hopefully at retirement age I'll be able to draw another $1000/month on it as well.