Friday, July 22, 2005

Another Retirement Story

One of my coworker, who is in her late 40's has not even started saving for retirement. She's not enrolled in the 401K plan even though the company offers a company match. Her husband also hasn't started saving for retirement. I can understand that her finances maybe tight with a child in college, but she can start small. When she was asked why she hasn't started saving for retirement. Her answer was "Social Security." She really believes that Social Security will finance her retirement. I just couldn't believe it!

Well, here's a Money Magazine answer to someone, who wants to retire in 13 years, but has not started saving. Click here.

2 Comments:

At July 25, 2005, Anonymous tershania said...

As if starting to save for retirement just 13 years down the road isn't scary enough. Money just posted an article about workers raiding their retirement accounts when they changed jobs. They posted stats about works between the ages of 20-29 raiding their retirement and people with LESS than $10k in their retirement tended to raid than people with more than $10k in their retirement. Amazing stats...it's no wonder American's can't save worth crap. We're a consumption, "give me now" kind of society.

 
At July 25, 2005, Blogger Money Turtle said...

Thanks for the article... If people don't jack up their savings, we're going to be in big trouble. Eventually, everyone will have to pay to fix this mess.

 

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