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In Reply to: Planning for retirement posted by Reposter on August 29, 2004 at 00:21:48:
Um ... I don't have a penny saved for my retirement. Nothing. I'm only thankful that my wife and I finally decided we'd better get life insurance even though it seemed like just an extra expense. It's that that I haven't examined the options, but where is the money going to come from to set aside for retirement? It's all needed here and now.
And honestly, part of feeling it's useless to set aside is knowing that I should have been saving money starting back when I was in my 20s so that the compound interest would have built up so much by now that I wouldn't even need to hardly contribute any more. But giving what small amount I could at this time is hardly worth it, especially when it would have to be taken from my kids' dental needs, or their college funds.
I read somewhere recently that people our age are better at saving for their kids' college funds than they are for their own retirement and that's sure the truth with me at least.
