Comments about ‘Small salary? Here's how to save for retirement’

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Published: Thursday, Feb. 20 2014 10:45 a.m. MST

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Chris B
Salt Lake City, UT

Good advice.

And lets remember, what other people make has nothing to do with me. My financial situation is dependent on what I do - not on what rich people do.

I have no one to blame(or be proud of) but myself for my situation. Lets not be lazy and think we deserve for the rich to take care of us and pay for our share of govt resources

Bountiful, UT

Get rid of debt before saving for retirement? Perhaps but starting a Roth IRA and maxing it out as soon as possible probably has longer term benefits, if its possible to do both.

BYU Track Star
Los Angeles, CA

It would be nice to know how to get to stop paying spousal support to my Former. Then, I can think about retiring. I don't want to work until I die. Her mom made it to 90. We were married 25 years and she thinks she is entitled to lifetime spousal support. Eventhough she is working. She already got half my defined-benefit pension, half my 401K and I'm buying my house back from her. I pray she re-marrys, but why should she?

Kings Court
Alpine, UT

...and just pray that you or a family member doesn't get a serious medical problem because it will wipe out your retirement and then some.

I Bleed Blue
Las Vegas, NV

Nice points Chris and my heart also goes out to track star. What is unfortunate is that other men who may want to date your ex will see how things turned out for you. The result is that she won't be married any time soon.

Gilbert, AZ

This is great advice only if the people that handle our 401(k)'s are honest. The amount of dishonest investing with other people's 401K's that happen a few years ago makes me very nervous about them.
I think the best bet is to diversify. Invest in gold, even in gold you can touch personally. Invest in property, invest in 401Ks. Put money in a wide variety of safe and solid invest places. Then elect honest people who will pick honest people to manage 401Ks.

ny, NY

Good points. The thing many people don't understand is that you should put away what you can and start as early as possible because compounding will help grow your nest egg.


I prefer the Richest Man in Babylon method: 10% for church/charity, 10% for savings, 80% to live on. The trick is learning to live within the 80%. If you can do that for 30 years, then you will be comfortable in retirement. As for medical and other catastrophes, make sure you are well insured and have a 3-6 month emergency fund. I started putting 10% of my paycheck (plus employer match of an additional 3%) into my 401k at 22 when I started working and after 15 years I've built my 401k to over $100k. Just takes time and patience.

Cheyenne, WY

I agree with you completely. The other one I would say is get your house paid off. That can be a very large savings every month.


I've never seen this "6% return" that is constantly cited in *every* single retirement article I've *ever* read in my poor life... It hasn't been 6% since the eighties, am I right? What bank offers 6%, what retirement service offers 6%? Somebody please, point me in the right direction; all I've ever seen is 1-3%!

Cheyenne, WY

@Mercy N Lovelie.
They are talking about retirement funds (401k,457, etc)
I enrolled in a 457 and historically since the creation of the duns 50 years ago it has averaged a 7-8% return (including recessions).
No bank account will give that type of interest at least for a few more years.


Thank you; I'll read up on these retirement funds...

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