Many, many years ago, I started trying to invest to start saving for retirement. I started a mutual fund account. But when I got separated from my husband at the time, I cashed that in, used all the money towards living expenses, and have never been able to start saving since. If you have read some of my posts, you know that I am a broke single mother and at times have some difficulty paying my regular monthly bills, but as time goes by, I often think about my future, or lack of a financially secure future. So I was wondering:

Are you saving for retirement? How much money do you plan to have when you retire? What age are you planning to retire? What ways are you saving for retirement?

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I have and recommend a SEP IRA. I would check with a financial planner to see exactly what would be best for you and your family though!

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I'm sorry you are struggling but it's great that you are looking for a solution. When I first married we put money away for everything even though we struggled. We out money away for retirement, towards our first home, towards college for the kids, for future vacations but we had to go through it all when DH had Cancer. Never expected it would all be gone and we would be left with debt. But if we did it once we could do it all again. DH has money taken out of his check every week towards a retirement plan. He also has money taken out to a savings account that we don't touch. I would like to invest in Realty With that in years to come. We also hope to have our home paid off when kids get older so we can downsize and put that money towards retirement also.

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We both contribute to a roth ira monthly. My husband contributes 10% to his work 401 K and they match I think up to 3 or 4 % We didn't get married until we were close to 30 and I didn't have anything saved for retirement.He had a little one($15,000) from his previous employer. We decided when we were 32 that we better get serious so we have contributed the max every year since then.We will be 40 at the beginning of 2015 and we just received our latest statement from our financial advisor. We reached $200,000 last month and I seriously jumped for joy!!! It was hard work but we just looked at it as a payment we HAD to make,like our mortgage. I plan to retire somewhere between 55-60 and he will retire at 60,maybe 62. As you know,daycare takes a toll on you so I told him I get to retire first.lol
I'm not sure where we will be in 15-20 years but I would love to reach a million between our retirement and our savings. Ooohhh,I can't wait for retirement!

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I need a savings account too! Right now I'm banking on selling my center real estate and my home when my kids are grown and out of the house (8 years) and living in an RV.....beyond that....no idea. Hopefully the real estate market good, otherwise I'm screwed. Lol. Not that its funny......

I heard Roth IRA is a good way to go. I need one!

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A Roth is a great way to go. Unfortunately my husband and I surpass the income restrictions but if you are within the limits I would go for the Roth. If someone is able to put more than the max amount in a Roth, you can put it in a Sep IRA and do an IRA conversion, but you will then be taxed on it.

I'm sure Tom Copeland would be a good resource for this!

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Real estate is making a comeback in my area.

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I'm 60 and have been separated for 6 years. Dh has a retirement account through his job and since he's 2 1/2 yrs. older than me, I assume he'll retire first. I never started my own but now I know I should have.
My plan is to keep doing this as long as I can, then eat cat food the rest of my life.

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