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Reply to "How much should I be saving for retirement?"
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[quote=Anonymous]Invest as much as you can for as long as you can. You don't know what the future holds. And compound interest works in your favor. I had access to an employer retirement plan 5 years before my husband did and 15 years later I have almost double the money in my 401(k). As life goes on, stuff comes up -- kids, mortgage, college savings for the kids, parents may get sick, you may get laid off or sick, etc. Save what you can, when you can. I'm not saying you should subsist on Saltines and water and never have any fun. Just set aside at least 10 percent in the 401(k), which will lower your taxable income. If you have extra money, go on a nice vacation or buy that overpriced pair of shoes, but don't piss it away on getting drunk with your pals nightly or eating expensive lunches out every day. Make conscious choices with your money. Getting off the soap box now ...[/quote]
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