Reply to How much should I be saving for retirement?

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[quote=Anonymous]I am 29 and my parents did not know a thing about retirement savings and financial planning. At 19/20, I had a coworker who pleaded with me to start saving for retirement now because of how far ahead I would be, but I felt like retirement was so far away that I'd already be a millionaire by then (after all, I had PLENTY of time to figure it out lol). Around 23, his advice started to sink in and I began with $50 a month on 28K a year.

I used to beat myself up for not starting when he first told me and I had more disposable income (was living at home), but I realized that it's far more important to just start somewhere and to stick with it. My salary is shy of 70K and cant afford to max just yet, but I save 10% at work (plus match) and about $2500/year in a Roth IRA. When I turn 30 this summer, I'm going up to 15% at work.

I have friends who have big maxxing for years and others who don't contribute anything at all. I'd suggest not comparing yourself to others, esp DCUMers with 10-20 years more to save and collect salary increases and promotions. As a PP said, save as much as you can when you can and you will be fine.[/quote]

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