Comments on: Preparing for Retirement

By: LifeInsuranceIndia

LifeInsuranceIndia — Thu, 17 Jul 2008 14:48:09 +0000

I think you have a very long vision and have taken a good step trying to save now. You just have to check the power of compunding to confirm you are on right track. If you are investing for such a long time i would suggest you go for blue chip equities along with SIP (Systematic Investment Plan) and keep investing everymonth irrespective of the upturns and downturn and you would see tremendeous growth in you portfolio every 5 yrs or so (business cycle)

By: Jonathan

Jonathan — Tue, 08 Jul 2008 19:55:32 +0000

Hey Dennis,

Great post! I also recently graduated college and have the same sentiments as you do. Neither of my parents were every really fiscally responsible, so I’m trying to get a head start. I agree maxing out my IRA is a terrific idea, but I’d like to add attempting to pre-pay my mortgage off asap as well is a goal I have for myself.

By: I got a raise! by Pro Money Blog | A young professional finance and entrepreneurship blog

Fri, 24 Aug 2007 04:41:27 +0000

[…] the extra money coming in next year, there are some implications to my retirement plan. Instead of hitting the next tax bracket in 2010, I’ll actually reach it a whole year […]

By: Dennis

Dennis — Wed, 08 Aug 2007 03:59:03 +0000

Thanks for all the comments!! About 15% of my gross income is going into a retirement fund. The rest is being saved through stock investments or a high interest savings account.

By: junger

junger — Tue, 07 Aug 2007 20:47:46 +0000

Just found your blog, and I’m in a situation similar to you. I’m 23 going on 24, contribute 10% of my income to my 401k (but get an employer match) and max out my Roth IRA every year.

Now I’m also trying to start saving for a house downpayment, and realizing that if I didn’t save for retirement and an emergency fund, I’d already be there!

But that’s okay — We’re both far ahead of the game as is.